Why You Should Stop Renting and Buy a Home Now

By Lex Levinrad

Are you currently renting the home that you live in? We recently analyzed data on historical pricing for existing home sales of single family homes in the U.S. We looked at historical price data for single family homes from the U.S Department of Housing and Urban Development (HUD) going back to 1970. We applied historical real estate data to today’s real estate market in order to compare and analyze how a typical first time home buyer today could benefit by purchasing a home similar to the one that they are currently renting. Based on historical data, along with current home prices and mortgage rates we believe that if you are currently renting and you have decent credit then you should really think about buying a home right now. [more...]