Rental costs are skyrocketing and you might not know why, but we do.
A majority of the economy is renting instead of purchasing! Why?
With the economy down we are learning to live with less square footage and necessities.
We find ourselves traveling more which means we aren't willing to be tied down.
But because of these things, more renters equal higher rent. It's the average concept of supply and demand.
But with higher rent it is less affordable, so you end up in a less desirable area.
And you'll soon find out that the single family home you were looking at before, is not only more affordable. But you get a return investment from it!
Which is better? Neither. It depends on your living situation. But if you are looking for something more affordable, you might just want to look at your rent cost vs a monthly mortgage!