Paying Rent? Don’t Let Rising Rents Trap You

NextView Loans

There are many benefits to home-ownership. One of the top reasons is being able to protect yourself from rising rents while locking in your housing cost for the life of your mortgage.

Don’t Become Trapped

Jonathan Smoke, Chief Economist at recently reported on what he calls a “Rental Affordability Crisis.” He warns that, “Low rental vacancies and a lack of new rental construction are pushing up rents, and we expect that they’ll outpace home price appreciation in the year ahead.”

The Joint Center for Housing Studies at Harvard University released their 2015 Report on Rental Housing, in which they reported that 49% of rental households are cost-burdened, meaning they spend more than 30% of their income on housing. These households struggle to save for a rainy day and pay other bills, such as food and healthcare.

It’s Cheaper to Buy Than Rent

In Smoke’s article, he went on to say, “Housing is central to the health and well-being of our country and our local communities. In addition, this (rental affordability) crisis threatens the future value of owned housing, as the burdensome level of rents will trap more aspiring owners into a vicious financial cycle in which they cannot save and build a solid credit record to eventually buy a home.”

“While more than 85% of markets have burdensome rents today, it’s perplexing that in more than 75% of the counties across the country, it is actually cheaper to buy than rent a home. So why aren’t those unhappy renters choosing to buy?”

I think the reason more people don't buy is they are nervous about the process. We can help! You can buy a home with imperfect credit and less money down than you could ever imagine.

Both being sales consultants ourselves, we are so impressed with Char's representation,...

mjzd0709 says:

The entire staff has been professional and quick, helping us obtain not one, but two loans for our family's needs at different stages in our lives. Both being sales consultants ourselves, we are so impressed with Char's representation, knowledge and professional attitude. He has honestly helped us make our home ownership experience a dream come true!

Nextview Loans is rated 5 stars over 118 reviews. Read more reviews