Cost of Owning a Home Surges Above the Cost of Renting One
Cost of Owning a Home Surges Above the Cost of Renting One
Abstract
The imbalance has pushed many would-be home buyers out of the market, says John Burns Real Estate Consulting. Just a year ago, the difference between owning and renting was virtually flat, according to the firm's data. Nationally, the cost of owning is 31 percent higher than renting, but the disparity is greater in metropolitan areas where housing prices have surged. In the Raleigh-Durham area in North Carolina, for example, thecost of owning was 42 percent. The gap was 40 percent.
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