Consumers Reap Benefits from a Renter's Market

Increasingly more consumers are recognizing that at least at the moment they're better off economically renting than buying. This is undoubtedly a departure from the past when most consumers recognized that the best monetary alternative would be to purchase rather than rent so that their money would go into creating equity in a home.

 that's definitely not the case, however. Though rents have continued to climb in lots of places, consumers are still learning they're typically able to rent for less money than what they'd pay for a monthly mortgage payment on a matching property. In some circumstances, renters have the ability to save between 40% and 50% by renting as opposed to purchasing.

One of many reasons for this can be that in some places, property values rose quite steeply. Right now, people who snatched up those homes without blinking have discovered they must now sell. The problem? They must sell the homes at the price ranges at which they purchased them two years ago to recoup the balance they must pay back on the mortgage. Renters just will not be prepared to pay more money than a house is worth.

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