In some markets, the difference can be less than $100, according to a national study conducted for The Associated Press by Marcus & Millichap Real Estate Investment Services.
The analysis of 45 metro areas found the difference between the monthly mortgage payment on a median-priced home and the median rent is down to $256. The last time that gap was nearly that small was in 1993, when it fell to $264, according to the study.
There are tax benefits to buying a home, including capital gains deductions for property taxes and loan interest. A home appreciates in the long term and acts as a hedge against inflation. It helps diversify your assets, builds equity and provides a means of forced savings as you slowly pay down the principal.
OBJECTIVE REAL ESTATE
6399 WILSHIRE BLVD SUITE 908
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