US Housing Market Moving Further into 'Buy Territory'

US Housing Market Moving Further into 'Buy Territory'

According to the latest Beracha, Hardin & Johnson Buy vs. Rent (BH&J) Index, the U.S. housing market has continued to move deeper into buy territory, supporting the belief that housing markets across the country remain a sound investment. The BH&J Index is a quarterly report that attempts to answer the question:

In today's housing market, is it better to rent or buy a home?

 

The index examines the entire US housing market and then isolates 23 major cities for comparison. The researchers "measure the relationship between purchasing property and building wealth through a buildup in equity versus renting a comparable property and investing in a portfolio of stocks and bonds." Ken Johnson, Ph.D., Real Estate Economist & Professor at Florida Atlantic University, and one of the index's authors explains that:

"Housing prices, in general, continue to slow and when considered in light of the recent trends in the Buy vs. Rent Index signal that ownership remains an excellent investment for the majority of Americans."

While 15 of the 23 metropolitan markets examined moved further into buy territory since last quarter, Dallas, Denver, and Houston are three of the major cities that are currently deep into rent territory. In these three markets, it is estimated that renting will top homeownership 7 out of 10 times. Eli Beracha, Ph.D., Assistant Professor in the T&S Hollo School of Real Estate at FIU, believes that, in these three markets, the "strong odds in favor of renting to create more wealth should begin to have an impact on the demand for home ownership and from that, impact property prices in these areas." Simply put, home prices in these areas will begin to return to more normal levels once residents realize that renting may be a better choice, therefore bringing home affordability back as well.

Bottom Line

The majority of the country is strongly in buy territory. Buying a home makes sense socially and financially. Rents are predicted to increase substantially in the next year. Protect yourself from rising rents by locking in your housing cost with a mortgage payment now. To Find Out More About the Study: The BH&J Index and other FAU real estate activities are sponsored by Investments Limited of Boca Raton. The BH&J Index is published quarterly and is available online at http://business.fau.edu/buyvsrent. #jamesonsothebys#premiersothebys

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We first met Ron when walking back to our apartment after brunch with friends. He was sitting outside this gorgeous condo building a block down the street from our apartment. He greeted us as we were walking toward the building. My partner saw the real estate sign in the front yard of the building, and she suggested we just take a look even though we were planning on investing in a property the next year. It was love at first site. The condo felt like home as soon as we walked in. Ron was so warm, welcoming, and genuine. This was my first home purchase, and he held our hands through the entire process with such care. In the future when I am looking for another property to invest in I'm calling on Mr. Ron Goldstein! Also, he conducts business in Florida, which will come in handy when my brother-in-law and his partner are looking to purchase a new home down south. Also, my mother/father in-law will be looking to sell in a year or so, and we will be calling on Ron then as well. I highly recommend Ron as your real estate broker -
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