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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
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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