This is the question that many ask themselves when they think about buying a home. Lately stagnant wages, growing rent and inflation make people weigh in whats a better financial decision for them , to invest or to rent?<\/p>\n
According to a study from Harvard\u2019s Joint Center on Housing Studies, the number of U.S. households that spend at least half their income in rent could increase 25% to 14.8 million over the next decade. By rule of thumb, households shouldn\u2019t be spending more than 30% of their income on housing. But if rent continues to grow faster than wages, people will be spending more than half of their money in rent. In the second quarter of this year wages grew 0.2% marking it the slowest pace since 1982.<\/p>\n
Although new data from the Census Bureau last week showed that the percentage of U.S households spending 30 percent of their income on housing was lower in 2014 than in any year since 2005. Most likely because home buyers taking out new mortgages or refinancing existing loans at lower rates and the fact the the Fed decided not raise rates yet for another consecutive year, makes it more reasonable and affordable to purchase a new home.<\/p>\n
Also, we might want to acknowledge that prices per square foot in Miami Dade are still very\u00a0competitive around the globe. As Miami keeps capturing everyones attention for growth opportunities, lifestyle and great weather all year round, this is a great place to have your money invested. At the beginning of this year the price per square foot in urban apartments compared as follows:
\nMiami, USA $446
\nToronto, CANADA $770
\nSydney, AUSTRALIA $810
\nParis, FRANCE $1,429
\nLondon, UK $2,865<\/p>\n","protected":false},"excerpt":{"rendered":"
This is the question that many ask themselves when they think about buying a home. Lately stagnant wages, growing rent and inflation make people weigh in whats a better financial decision for them , to invest or to rent? According to a study from Harvard\u2019s Joint Center on Housing Studies, the number of U.S. households<\/p>\n