| Over the past few months, a spate of good news about the U.S. housing market has led some to think a recovery is finally on the horizon. The evidence is compelling. It now costs almost as much to rent as buy.
Since the housing bubble burst in 2006, home prices have fallen by 33% nationwide -- more than they did during the Great Depression. Waves of foreclosures and tighter lending standards have helped drive a surge in rentals. And during the third quarter, the median monthly mortgage payment totaled $698 compared to the median monthly asking rent of $700, according to Capital Economics, citing data from the National Association of Realtors and the Census Bureau...............................................Full Article: Source |