Renters Getting Off Easy vs Owners When it Comes to Rising Payments?

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Posted To: MND NewsWire

According to CoreLogic, it doesn’t matter whether you rent or recently bought a home, your housing costs probably went up over the last year. Two separate posts in the CoreLogic Insights blog look at the rising costs, and find that homeowners are being hit harder than before. Still, when viewed historically, the cost of owning remains more affordable. There has been a steady increase in rents since 2010. Many households vacated homeownership, voluntarily or otherwise, and others that in better times would have bought rented instead. Those increases hit an annual peak, as measured by the CoreLogic Single-Family Rental Index (SFRI), of 4.4 percent in February 2016. Analyst Shu Chen writes that, since then, the increases have declerated slowly. In August’s most recent data, the index, which uses…(read more)

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