Overall, the Republicans» tax changes look like a net plus for corporations and stockholders, but a net negative for people who've benefited the most from the tax code's longtime preferences for
homeownership over renting.
In terms of wealth creation, the U.S. housing market, when considered as a whole, has swung marginally more in favor of
homeownership over renting a comparable property and investing monthly rent savings in a portfolio of stocks and bonds.
Based on this, you might think I'm an advocate of
homeownership over renting.
Not exact matches
The rising cost of
homeownership is pushing more people to
rent, and the vacancy rate in Toronto has tightened
over the past few years to 1.3 per cent, according to CMHC.
This means more people will take the standard deduction rather than itemize items such as mortgage interest, which CBRE said will significantly benefit renters in most of the country's largest markets and encourage
renting over homeownership.
Though you're probably aware that
over time,
homeownership makes more sense than
renting, but that doesn't always mean it's appropriate to your unique situation.
The rising cost of
homeownership is pushing more people to
rent, and the vacancy rate in Toronto has tightened
over the past few years to 1.3 per cent, according to CMHC.
There are many reasons why people in this state choose
renting over homeownership.
«Many of the metros at the top of our list have these two common characteristics: strong job growth, and residents who prefer
renting over homeownership as median home prices remain relatlively high and the cost of mortgage debt continues to increase,» explains Steve Hovland, director of research at HomeUnion.
«
Over the past eight years,
homeownership in the U.S. has decreased while many in the growing population have turned to
renting instead of buying a home.
(Bloomberg View)-- In the early 2010s, economic development emphasized
renting over homeownership and young people
over families, and clustered economic activity in urban cores instead of outlying areas.
Especially compared to the west and the northeast, buying and
renting in the Midwest are both relatively affordable — but because
homeownership also increases a person's net worth
over time, buying often makes more sense in the medium - and long - term.