Do a quick Google search on the term “rent prices” and you’ll see headlines like “The middle class is struggling to make the rent” and “Rent inflation shows no signs of letting up.” At the same time, the headlines on home buying read “Home Sales Surge as Prices Pick Up.”
So let’s get this straight, rent prices are up and unaffordable, but home prices are also increasing – what’s a person to do? If you’re trying to decide whether to renew the lease at your rental or sign up for that 30-year mortgage – read on to help you make that decision.