For those seeking stability and long-term wealth, 2017 is characterized as a strong but "moderating" year for home purchases.
: Rates are expected to rise toward 4.4%–4.5% by the end of the year. Locking in a rate early may be beneficial before they "inch up" further. should i buy a house or rent 2017
: In roughly two-thirds of U.S. counties, monthly payments on a median-priced home (including taxes and insurance) consume 36.6% of average wages, compared to 38.6% for fair market rent on a three-bedroom property. For those seeking stability and long-term wealth, 2017
: Buying allows you to build equity with every payment, whereas rent is an expense that is never recouped. : In roughly two-thirds of U
Renting remains the superior option for those prioritizing flexibility or facing "record-high" purchase prices in competitive metros.
: Homeowners can leverage federal tax deductions for mortgage interest and property taxes, benefits not available to renters. The Case for Renting in 2017
The 2017 housing market presents a complex choice between buying and renting, heavily influenced by rising interest rates and varying regional affordability. While homeownership is more affordable than renting in of U.S. housing markets, the actual monthly cost of owning (including taxes and maintenance) remains higher than renting in every state. The Case for Buying in 2017