On a monthly basis, the New Housing Price Index (NHPI) fell 0.4% in October, the largest monthly decline since April 2009. However, the picture was mixed across the country, as prices were down in 9 out of 27 census metropolitan areas (CMAs) surveyed, but unchanged in 11 CMAs and up in the remaining 7.
Really?
As a homeowner, I’ve had to replace a roof, an A/C, furnace, driveway, shed, washer/dryer/oven/fridge, fencing, removed trees, and had indoor renovations done… Tens and tens of thousands.
That doesn’t include any of the time and expense to maintain the property.
Unless renters have to cover expenses like that, I can’t possibly see renting as more expensive.
I have kids who rent their own place, and while the rent is expensive, they never have these kinds of crazy expenses to deal with.
But I really don’t want to get into an affordability pissing contest. Everything is expensive and unaffordable for the majority of the population.
Renters do cover expenses like that. Because they pay rent. And rent pays for all of that plus profit.