The latest study by CoreLogic. Home owners are spending on average 33.2% on housing while renters are spending 38.4%.
Since 1985, homeowners have increased their housing expenditure allocation by 12 percent, while renters increased by 22 percent.
As consumers allocate more of their expenditures toward housing, they have less money to spend on non-housing consumption. The largest decline in a household’s budget occurred in transportation expenditures which fell by 17 percent and 22 percent since 1985 for homeowners and renters, respectively, CoreLogic said.
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This is a very important topic and needs to be shouted out from the top of a mountain! Too many people are wasting time wondering if now is the right time to buy while they throw their money away on renting. With interest rates this low it is likely a renter can spend less to actually own a home. Tampa real estate home search, market statistics, articles, topics http://www.GoToni.com Tampa Real Estate Specialist - Toni Hedstrom REALTOR, e-PRO
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