{"id":2701,"date":"2018-11-08T11:00:07","date_gmt":"2018-11-08T11:00:07","guid":{"rendered":"https:\/\/thezakariagroup.com\/75-of-renters-have-been-misinformed\/"},"modified":"2018-11-08T11:00:07","modified_gmt":"2018-11-08T11:00:07","slug":"75-of-renters-have-been-misinformed","status":"publish","type":"post","link":"https:\/\/thezakariagroup.com\/75-of-renters-have-been-misinformed\/","title":{"rendered":"75% of Renters Have Been Misinformed"},"content":{"rendered":"
\n

\"75%<\/p>\n

Recently, multiple headlines have been written asserting that homeownership is less affordable today than at any other time in the last decade. Though the headlines are accurate, they lack context and lead too many Americans to believe that they can\u2019t partake in a major part of the American Dream \u2013 owning a home<\/em>.<\/span><\/p>\n

In 2008, the housing market crashed and home values fell by as much as 60% in certain markets. This was the major trigger to the Great Recession we experienced from 2008 to 2010. To come back from that recession, mortgage interest rates were pushed down to levels that were never seen before.<\/p>\n

For the last ten years, you could purchase a home at a dramatically discounted price and attain a mortgage at a historically low mortgage rate.<\/p>\n

Affordability skyrocketed.<\/strong><\/p>\n

Now that home values have returned to where they should be, and mortgage rates are beginning to increase, it is less affordable to own a home than it was over the last ten years.<\/p>\n

However, what is not being reported<\/em> is that it is MORE AFFORDABLE to own a home today than at any other time since 1985<\/a> (when data was first collected on this point).<\/p>\n

If you take out the years after the crash, affordability today is greater than it has been at almost any time in American history.<\/p>\n

This has not been adequately reported which has led to many Americans believing that they cannot currently afford a home. <\/strong><\/p>\n

As an example, the latest edition of Freddie Mac\u2019s Research: Profile of Today\u2019s Renter<\/a><\/em> reveals that 75% of renters now believe it is more affordable to rent than to own their own homes. This percentage is the highest ever recorded. The challenge is that this belief is incorrect.<\/em> Study<\/a> after study<\/a> has proven that in today\u2019s market, it is less expensive to own a home than it is to rent a home in the United States.<\/p>\n

Thankfully, some are starting to see this situation and accurately report on it. The National Association of Realtors<\/em>, in their 2019 Housing Forecast<\/a><\/em>, mentions this concern:<\/p>\n

\n

\u201cWhile the U.S. is experiencing historically normal levels of affordability, potential buyers may be staying out of the market because of perceived problems with affordability.\u201d<\/em><\/p>\n<\/blockquote>\n

Bottom Line<\/strong><\/h3>\n

If you are one of the many renters who would like to own their own homes, let\u2019s get together to find out if homeownership is affordable for you right now.<\/p>\n<\/div>\n

Powered by WPeMatico<\/a><\/small><\/p>\n","protected":false},"excerpt":{"rendered":"

Recently, multiple headlines have been written asserting that homeownership is less affordable today than at any other time in the last decade. Though the headlines are accurate, they lack context and lead too many Americans to believe that they can\u2019t partake in a major part of the American Dream \u2013 owning a home. In 2008, […]<\/p>\n","protected":false},"author":101010,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","enabled":false}}},"categories":[110,98,99,111],"tags":[],"jetpack_publicize_connections":[],"yoast_head":"\n75% of Renters Have Been Misinformed - The Zakaria Group<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/thezakariagroup.com\/75-of-renters-have-been-misinformed\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"75% of Renters Have Been Misinformed - The Zakaria Group\" \/>\n<meta property=\"og:description\" content=\"Recently, multiple headlines have been written asserting that homeownership is less affordable today than at any other time in the last decade. 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