Thereâ€™s even more of a reason why you buy vs. renting a house.
In a slide titled â€œThe After Math Of The Housing Bubble,â€ JP Morgan Fundsâ€™s David Kelly offers a chart of monthly rent versus monthly mortgage payments to show the imbalance in the housing market.
Americans continue to be unable or unwilling to buy a house, and still remember what happened in the housing market a few years ago.
Meanwhile, this the demand for rentals have exploded, so much so that average rents are much higher than average mortgage payments.
Hereâ€™s the chart illustrating the evolving trends: