Wiener Lucena Group at RE/MAX - 6 Offices in
Boca Raton - Boynton Beach - Delray Beach - Parkland
Friday, February 24, 2017
Real Estate News February 2017
Buying Is Better Than Renting in Most
Markets... but for How Long?
Buying a home is more affordable than renting one in 66
percent of housing markets in the U.S., with Cook County, Ill.,
Maricopa County, Ariz. and Miami-Dade County, Fla. among those with the
highest buy affordability, according to ATTOM Data Solutions' 2017
Rental Affordability Report. Renting a home, to compare, is more
affordable than buying one in 34 percent of markets, with Dallas
County, Texas, Kings County, N.Y. and Santa Clara County, Calif. among
those with the highest rent affordability.
Predominantly impacting affordability are stagnant wages, which have
lagged at a growth rate of 2.2 percent since one year ago, compared to
home prices, up 5.7 percent, and rents, up 4.2 percent.
Rising mortgage rates could deal another blow to affordability. Average
rates, which retreated since charging forward following the
election, are currently above 4 percent.
Home price growth outpaced wage growth in 79 percent of the counties
analyzed in the report, while rent growth outpaced wage growth in 62
percent. Wage growth, however, outpaced home price growth in 21 percent
of the counties analyzed, and outpaced rent growth in 38 percent.
A monthly house payment on a median-priced home will require 36.6
percent of average wages, according to the report; a monthly fair
market rent will require 38.6 percent.
How to Reduce Your Carbon Footprint at
You drive a fuel efficient car, recycle and bring your
own reusable shopping bags to the store. But how can you work on
reducing your carbon footprint at home?
For more Americans, heating and cooling your home accounts for nearly
50 percent of personal carbon emissions.
insulation. Check your home's insulation to make sure
you're not losing that warm air your home works so hard to provide you
systems. From windows to appliances, using Energy
Star-rated systems can help your home work more efficiently.
thermostats. Set your thermostat to lower the
temperature of your home when you're out, or asleep.
Smarter lights. Switch
from old, incandescent light bulbs to new light emitting diodes (LED)
options which last longer and use less energy.
use. Many of us use over ten gallons of water a day.
Take shorter, cooler showers, make sure your dishwasher or washing
machine is full when you run it, and turn off the faucet when brushing
your teeth or shaving.
If you have a brokerage relationship with another
agency, this is not intended as a solicitation. All information
deemed reliable but not guaranteed. Equal Opportunity Housing
Provider. Each office is independently owned and operated.