“Reason No. 2: Rents are high
In many markets, rents are rising to unsustainable levels, reports the National Association of Realtors (NAR). “In the past five years, a typical rent rose 15% while the income of renters grew by only 11%.”
The cities with the highest rent increase since 2009 include New York, San Jose, San Francisco, Denver, and Seattle. For the rest of the list, click here, and to see how much more renting can cost you over a lifetime, check out Riskology.”
That is a great indicator that homes sales will be steady for the next 2 years and probably explode in 2017. The easing of credit will also be a huge factor in that number. even when homes are selling the rental market stays consistent.
Number 5 is also a great reason to purchase real estate
“Reason No. 5: It’s still one of the best investments out there
In fact, some would say it’s the very best investment out there.
“Buying a home is the best investment any individual can make. Affordability is still at an all-time high,” said CNBC.
Not only as a comparison between buying and renting, but as a measurable asset, homeownership stands up—as long as buyers make a smart decision.
“The largest measurable financial benefit to homeownership is price appreciation,” said Investopedia. “Price appreciation helps build home equity, which is the difference between the market price of the house and the remaining mortgage payments.”
Real estate is still the best investment that you can buy today. They area not making any new land unless your near a volcano were you may have a problem keeping your property cooled : )
Prices in the Cleveland Metro area are still great deals and high in quality. Call Brett 216-703-5740 Coldwell Banker Rooftopinvestment.com