Reblogged from: The M Report – Xhevrije West
The financial costs of delaying or forgoing a home purchase in today’s unexpected market have become very high, according to the inaugural Opportunity Cost Report released by Realtor.com, a leading provider of online real estate services operated by News Corp subsidiary Move, Inc. With interest rates and home prices expected to rise within the next year, consumers could end costing themselves more by putting off buying a home.
The report reviewed the 382 largest markets in the U.S. using data on current median existing home prices, rents, local mortgage rates, and estimates of property tax, and insurance rates. It also factored in maintenance costs, costs of selling, forecasts for mortgage rates, home prices, and rents over a 30-year time period.
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