Are You Debating Renting or Buying?
Rising housing costs are pushing more middle-class families in California to rent rather than buy. The average cost of ownership payments for a mid-tier house in California are currently double the cost of renting a similar home. And compared to January 2020, the combined monthly cost of mortgage payments, taxes and homeowners insurance has jumped by 80%, according to the state Legislative Analyst’s Office. Some tenants rent because they can’t afford a down payment, but others prefer the greater flexibility and savings they can get from renting. To meet demand, corporate homebuilders are…
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