There is so much speculation about the adequacy of Social Security and the age of eligibility for future retirement, giving yourself an edge makes sense. In a lifetime of renting, you can collect receipts and next month, look forward to another payment and another receipt - forever.
Or, you can invest in a home and use that next egg any way you choose when the time comes. Checkout today's report and see what a millionaire has to say to millennials.
Are we in an "Age of Millennials"? Without a doubt, they are coming of age and they are the best educated, most able generation ready to invest in a home of their own. In the right column of this blog, there is a link to our special publication dedicated to Millennials. Check it out.
The truth is - homes are more affordable today than 25, 20 or even 11 years ago! That is a bold statement, so I am going to suggest you click through to today's report and read it in detail (it's a short read).
Waiting costs money. The cost is added year after year for 30 years. Today's chart is a quick look at the impact of rising interest rates.
For something more in depth, checkout our blog page on how interest rates affect your buying power: https://www.sanantoniorealestate.blog/p/what-is-purchasing-power.html
In the six years that Trulia has conducted a cost of rent vs cost of buy study, this is the first time that two metro areas were cheaper to rent than to buy. Both cities are on the West Coast (San Jose and San Francisco). That does not signal a trend - real estate is high in both cities.
The remaining 98 metro areas in the study remain cheaper to own that to rent. That is pretty solid!