{"id":2131,"date":"2017-04-20T10:08:08","date_gmt":"2017-04-20T17:08:08","guid":{"rendered":"http:\/\/skyrisere.com\/listings\/?p=2131"},"modified":"2017-04-20T10:10:48","modified_gmt":"2017-04-20T17:10:48","slug":"dont-buy-rental-trap","status":"publish","type":"post","link":"https:\/\/skyrisere.com\/listings\/2017\/04\/20\/dont-buy-rental-trap\/","title":{"rendered":"Don&#8217;t Buy Into The Rental Trap"},"content":{"rendered":"<div class=\"row\">\n<div class=\"col-md-8 col-md-offset-2 lead\">\n<h1>Don&#8217;t Buy Into The Rental Trap<\/h1>\n<p><a href=\"http:\/\/skyrisere.com\/listings\/wp-content\/uploads\/2017\/04\/IMG_9658.jpg\"><img fetchpriority=\"high\" decoding=\"async\" data-id=\"2130\"  src=\"http:\/\/skyrisere.com\/listings\/wp-content\/uploads\/2017\/04\/IMG_9658.jpg\" alt=\"\" width=\"800\" height=\"800\" class=\"aligncenter size-full wp-image-2130 img-responsive\" srcset=\"https:\/\/skyrisere.com\/listings\/wp-content\/uploads\/2017\/04\/IMG_9658.jpg 800w, https:\/\/skyrisere.com\/listings\/wp-content\/uploads\/2017\/04\/IMG_9658-150x150.jpg 150w, https:\/\/skyrisere.com\/listings\/wp-content\/uploads\/2017\/04\/IMG_9658-300x300.jpg 300w, https:\/\/skyrisere.com\/listings\/wp-content\/uploads\/2017\/04\/IMG_9658-768x768.jpg 768w\" sizes=\"(max-width: 800px) 100vw, 800px\" \/><\/a><\/p>\n<p>There are many benefits to homeownership. One of the them is being able to protect yourself from rising rents by locking in your housing cost for the life of your mortgage.<\/p>\n<h2>Don\u2019t Become Trapped<\/h2>\n<p>Jonathan Smoke, Chief Economist at <a href=\"http:\/\/realtor.com\">realtor.com<\/a>, reported on what he calls a \u201cRental Affordability Crisis.\u201d He warns:<\/p>\n<blockquote>\n<p>Low rental vacancies and a lack of new rental construction are pushing up rents, and we expect that they\u2019ll outpace home price appreciation in the year ahead.<\/p>\n<\/blockquote>\n<p>In the Joint Center for Housing Studies at Harvard University&#8217;s 2016 State of the Nation\u2019s Housing Report, they revealed that \u201cThe number of cost-burdened households rose to 21.3 million. Even more troubling, the number with severe burdens (paying more than 50% of income for housing) jumped to a record 11.4 million.\u201d These households struggle to save for a rainy day and pay other bills, such as food and healthcare.<\/p>\n<h2>It\u2019s Cheaper to Buy Than Rent<\/h2>\n<p>In Smoke\u2019s article, he went on to say:<\/p>\n<blockquote>\n<p>Housing is central to the health and well-being of our country and our local communities. In addition, this (rental affordability) crisis threatens the future value of owned housing, as the burdensome level of rents will trap more aspiring owners into a vicious financial cycle in which they cannot save and build a solid credit record to eventually buy a home. While more than 85% of markets have burdensome rents today, it\u2019s perplexing that in more than 75% of the counties across the country, it is actually cheaper to buy than rent a home. So why aren\u2019t those unhappy renters choosing to buy?<\/p>\n<\/blockquote>\n<h2>Know Your Options<\/h2>\n<p>Perhaps you have already saved enough to buy your first home. HousingWire reported that analysts at Nomura believe:<\/p>\n<blockquote>\n<p>It\u2019s not that Millennials and other potential homebuyers aren\u2019t qualified in terms of their credit scores or in how much they have saved for their down payment. It\u2019s that they think they\u2019re not qualified or they think that they don\u2019t have a big enough down payment.<\/p>\n<\/blockquote>\n<p>Many first-time homebuyers who believe that they need a large down payment may be holding themselves back from their dream home. As we have reported before, in many areas of the country, a first-time home buyer can save for a 3% down payment in less than two years. You may have already saved enough!<\/p>\n<h2>Our Conclusion<\/h2>\n<p>Don\u2019t get caught in the trap so many renters are currently in. If you are ready and willing to buy a home, find out if you are able. Have a professional help you determine if you are eligible for a mortgage.<\/p>\n<p>We can help guide that possibility so that it becomes a reality.<\/p>\n<div>&nbsp;<\/div>\n<p><a href=\"http:\/\/skyrisere.com\/listings\/contact\/\" class=\"btn-primary btn-lg\">Contact Us<\/a><\/p>\n<p><a href=\"http:\/\/skyrisere.com\/listings\/wp-content\/uploads\/2015\/11\/SkyriseLogoLrg.jpg\"><img decoding=\"async\" data-id=\"1497\"  src=\"http:\/\/skyrisere.com\/listings\/wp-content\/uploads\/2015\/11\/SkyriseLogoLrg.jpg\" alt=\"SkyriseLogoLrg\" class=\"img-responsive\" \/><\/a><\/p>\n<p class=\"pull-right\">BRE: 01338047<\/p>\n<\/div>\n<\/div>\n ","protected":false},"excerpt":{"rendered":"<p>Don&#8217;t Buy Into The Rental Trap There are many benefits to homeownership. One of the them is being able to protect yourself from rising rents by locking in your housing cost for the life of your mortgage. Don\u2019t Become Trapped Jonathan Smoke, Chief Economist at realtor.com, reported on what he calls a \u201cRental Affordability Crisis.\u201d [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"ocean_post_layout":"","ocean_both_sidebars_style":"","ocean_both_sidebars_content_width":0,"ocean_both_sidebars_sidebars_width":0,"ocean_sidebar":"","ocean_second_sidebar":"","ocean_disable_margins":"enable","ocean_add_body_class":"","ocean_shortcode_before_top_bar":"","ocean_shortcode_after_top_bar":"","ocean_shortcode_before_header":"","ocean_shortcode_after_header":"","ocean_has_shortcode":"","ocean_shortcode_after_title":"","ocean_shortcode_before_footer_widgets":"","ocean_shortcode_after_footer_widgets":"","ocean_shortcode_before_footer_bottom":"","ocean_shortcode_after_footer_bottom":"","ocean_display_top_bar":"default","ocean_display_header":"default","ocean_header_style":"","ocean_center_header_left_menu":"","ocean_custom_header_template":"","ocean_custom_logo":0,"ocean_custom_retina_logo":0,"ocean_custom_logo_max_width":0,"ocean_custom_logo_tablet_max_width":0,"ocean_custom_logo_mobile_max_width":0,"ocean_custom_logo_max_height":0,"ocean_custom_logo_tablet_max_height":0,"ocean_custom_logo_mobile_max_height":0,"ocean_header_custom_menu":"","ocean_menu_typo_font_family":"","ocean_menu_typo_font_subset":"","ocean_menu_typo_font_size":0,"ocean_menu_typo_font_size_tablet":0,"ocean_menu_typo_font_size_mobile":0,"ocean_menu_typo_font_size_unit":"px","ocean_menu_typo_font_weight":"","ocean_menu_typo_font_weight_tablet":"","ocean_menu_typo_font_weight_mobile":"","ocean_menu_typo_transform":"","ocean_menu_typo_transform_tablet":"","ocean_menu_typo_transform_mobile":"","ocean_menu_typo_line_height":0,"ocean_menu_typo_line_height_tablet":0,"ocean_menu_typo_line_height_mobile":0,"ocean_menu_typo_line_height_unit":"","ocean_menu_typo_spacing":0,"ocean_menu_typo_spacing_tablet":0,"ocean_menu_typo_spacing_mobile":0,"ocean_menu_typo_spacing_unit":"","ocean_menu_link_color":"","ocean_menu_link_color_hover":"","ocean_menu_link_color_active":"","ocean_menu_link_background":"","ocean_menu_link_hover_background":"","ocean_menu_link_active_background":"","ocean_menu_social_links_bg":"","ocean_menu_social_hover_links_bg":"","ocean_menu_social_links_color":"","ocean_menu_social_hover_links_color":"","ocean_disable_title":"default","ocean_disable_heading":"default","ocean_post_title":"","ocean_post_subheading":"","ocean_post_title_style":"","ocean_post_title_background_color":"","ocean_post_title_background":0,"ocean_post_title_bg_image_position":"","ocean_post_title_bg_image_attachment":"","ocean_post_title_bg_image_repeat":"","ocean_post_title_bg_image_size":"","ocean_post_title_height":0,"ocean_post_title_bg_overlay":0.5,"ocean_post_title_bg_overlay_color":"","ocean_disable_breadcrumbs":"default","ocean_breadcrumbs_color":"","ocean_breadcrumbs_separator_color":"","ocean_breadcrumbs_links_color":"","ocean_breadcrumbs_links_hover_color":"","ocean_display_footer_widgets":"default","ocean_display_footer_bottom":"default","ocean_custom_footer_template":"","ocean_post_oembed":"","ocean_post_self_hosted_media":"","ocean_post_video_embed":"","ocean_link_format":"","ocean_link_format_target":"self","ocean_quote_format":"","ocean_quote_format_link":"post","ocean_gallery_link_images":"on","ocean_gallery_id":[],"footnotes":""},"categories":[1],"tags":[],"class_list":["post-2131","post","type-post","status-publish","format-standard","hentry","category-featured","entry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Don&#039;t Buy Into The Rental Trap - Skyrise Real Estate Group<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/skyrisere.com\/listings\/2017\/04\/20\/dont-buy-rental-trap\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Don&#039;t Buy Into The Rental Trap - Skyrise Real Estate Group\" \/>\n<meta property=\"og:description\" content=\"Don&#8217;t Buy Into The Rental Trap There are many benefits to homeownership. 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One of the them is being able to protect yourself from rising rents by locking in your housing cost for the life of your mortgage. 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