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There’s never been a worse time to buy rather than rent

There’s never been a worse time to buy rather than rent

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Accessing property has rarely been so difficult for first-time buyers. But a tight real estate market isn’t proving to be a boon for homeowners either.

The cost of purchase Home buying versus renting is at its highest level since at least 1996. The average monthly payment for a new mortgage is 52% higher than the average apartment rent, according to CBRE analysis. The last time the measure seemed derailed was before the housing crash of 2008. Even then, the premium peaked at 33% in the second quarter of 2006.

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Eleon

With a penchant for words, Eleon Smith began writing at an early age. As editor-in-chief of his high school newspaper, he honed his skills telling impactful stories. Smith went on to study journalism at Columbia University, where he graduated top of his class. After interning at the New York Times, Smith landed a role as a news writer. Over the past decade, he has covered major events like presidential elections and natural disasters. His ability to craft compelling narratives that capture the human experience has earned him acclaim. Though writing is his passion, Eleon also enjoys hiking, cooking and reading historical fiction in his free time. With an eye for detail and knack for storytelling, he continues making his mark at the forefront of journalism.
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