Renting Now Costs More than Buying

The graph above depicts Monthly Rent Costs versus Monthly Mortgage Payments over recent years.We see the beginnings of recovery for the housing market. The demand for rentals has exploded so that renting is still more expensive than buying a home.  See “The After Math Of the Housing Bubble” by David Kelly, J.P. Morgan. Fallen home prices in Silver Spring coupled with historically low interest rates and shrinking inventory have produced a buying opportunity.

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Barbara Ciment, Realtor