Every so often, I read an article or blog that really gets me thinking. The chief economist at the National Association of Realtors, Lawrence Yun, recently posted about how a home buyer’s average mortgage payment today is not much different than it was 30 years ago. Though 1981 saw mortgage rates of 18 percent, home prices were much lower than they are now; and now that interest rates are so low, it is almost even.
Yun says, “Compare the chart below on the 30 year payment growth of the overall consumer price index, rent, food prices, gasoline prices, college tuition, and medical costs, versus the monthly mortgage payment. The rapid increases in college tuition bills may also imply too much demand, perhaps even a bubble in term of students not getting their money’s worth. A recent spike in college student loans is due primarily to weak job market conditions, but may also be due to ‘over investment’ in education in relation to the cost.”
The slow growth in monthly mortgage rates and how cheap homes are on a per month basis makes a real value proposition for homebuying! Now is the time to buy an investment property, call me today at (303) 442-5001 to discuss your options.
Yun says, “Compare the chart below on the 30 year payment growth of the overall consumer price index, rent, food prices, gasoline prices, college tuition, and medical costs, versus the monthly mortgage payment. The rapid increases in college tuition bills may also imply too much demand, perhaps even a bubble in term of students not getting their money’s worth. A recent spike in college student loans is due primarily to weak job market conditions, but may also be due to ‘over investment’ in education in relation to the cost.”
The slow growth in monthly mortgage rates and how cheap homes are on a per month basis makes a real value proposition for homebuying! Now is the time to buy an investment property, call me today at (303) 442-5001 to discuss your options.
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