Money Monday: Affordability for renters and homeowners

“Affordability is a much more pertinent issue for renters than homeowners, according to new research from CoreLogic, a real estate data firm. Since 2005, the monthly cost to rent a single-family home has risen significantly, while the monthly principal-and-interest mortgage payments of homeowners dropped slightly.

“CoreLogic’s national rent index jumped 36 percent in December 2018 compared to December 2005. On the other hand, the typical mortgage payment fell 4 percent over that same period…” (REALTOR Magazine. “Report: Do Homeowners Fare Better Than Renters?” 18 April 2019.
https://magazine.realtor/daily-news/2019/04/18/report-do-homeowners-fare-better-than-renters)

Read it on REALTOR Magazine.

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