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Tuesday, January 15, 2013

Monthly rent versus monthly mortgage payments

Monthly rent versus monthly mortgage payments

mortgage rent

Census Bureau, J.P. Morgan Asset Management. Monthly mortgage payment assumes a 20% down payment at prevailing 30-year fixed-rate mortgage rates; analysis based on median asking rent and median mortgage payment based on asking price.

Americans continue to be unable or unwilling to buy a house.  Many still remember what happened in the housing bubble not just a few years ago.

Meanwhile, this the demand for rentals have exploded, so much so that average rents are much higher than average mortgage payments.

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