It's 15% more expensive to rent an apartment! It costs you more to rent than it would to buy a home-a home which you'll own in a matter of years depend on your mortgage contract.
The decline in home prices, coupled with lower interest rates (at a record low) boost the demand for homes at entry-level prices. In Modesto, entry-level homes are averaged at $125,000 and they're is over 175 on the market for that price or lower. Many future owner we'll have monthly payments of about $850 after taxes. In contrast, the average price to rent a home in the Central Valley is well over $1000/month.
Once-reluctant home buyers should now move into the housing market and investors should take advantage of the rates! Contact me and we'll get you into the homeowners club.
What side are you on?
Feel free to snoop around my blog I have published plenty of success stories showing what the Wall Street Journal is talking about.
Here's a quick link to one of my stories: Why rent when you can own
Happy House hunting.