[{"data":1,"prerenderedAt":-1},["ShallowReactive",2],{"$f1bjwrnpnh6h73":3,"$ffeh0925h8cuz":51,"$f2emv3tus0uf1":55,"$fbwk2pqjjqsc7":59},{"item":4,"previous":39,"next":45},{"id":5,"slug":6,"title":7,"description":8,"excerpt":9,"contentType":10,"featuredImage":11,"bannerImage":9,"body":12,"agentsBottomLine":13,"bodyImage":14,"isInfographic":15,"categories":16,"isVideo":15,"videoThumbnail":9,"videoSource":9,"publishedAt":37,"updatedAt":38},1332,"renters-paying-substantially-more-while-owning-costs-less","Renters Paying Substantially More While Owning Costs Less","In a recent \u003Ca href=\"https:\u002F\u002Fwww.corelogic.com\u002Fblog\u002F2019\u002F04\u002Fhousing-costs-have-risen-faster-for-renters-who-remain-more-cost-burdened-than-owners.aspx\">\u003Cem>Insights Blog\u003C\u002Fem>\u003C\u002Fa>, \u003Cem>CoreLogic \u003C\u002Fem>reported that rent prices have skyrocketed since 2005. Meanwhile, the typical mortgage payment has actually decreased.","","blog","https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2019\u002F04\u002F22170609\u002F20190425-Share-KCM.jpg","In a recent \u003Ca href=\"https:\u002F\u002Fwww.corelogic.com\u002Fblog\u002F2019\u002F04\u002Fhousing-costs-have-risen-faster-for-renters-who-remain-more-cost-burdened-than-owners.aspx\">\u003Cem>Insights Blog\u003C\u002Fem>\u003C\u002Fa>, \u003Cem>CoreLogic \u003C\u002Fem>reported that rent prices have skyrocketed since 2005. Meanwhile, the typical mortgage payment has actually decreased.\u003C!--more-->\r\n\u003Cblockquote>\u003Cem>“CoreLogic’s national rent index was up 36% in December 2018 compared with December 2005, while the typical mortgage payment was down 4% over that period.”\u003C\u002Fem>\u003C\u002Fblockquote>\r\n\u003Ca href=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002Fwp-content\u002Fuploads\u002F2019\u002F04\u002F20190425-ENG-MEM.jpeg\">\u003Cimg class=\"aligncenter wp-image-39569\" src=\"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002Fwp-content\u002Fuploads\u002F2019\u002F04\u002F20190425-ENG-MEM.jpeg\" alt=\"Renters Paying Substantially More While Owning Costs Less | Simplifying The Market\" width=\"650\" height=\"488\" \u002F>\u003C\u002Fa>\r\n\u003Ch4>\u003Cstrong>Why the difference between the costs of renting versus owning?\u003C\u002Fstrong>\u003C\u002Fh4>\r\nIt makes sense that rents have risen. However, how did mortgage payments decrease? \u003Cem>CoreLogic\u003C\u002Fem> explained:\r\n\u003Cblockquote>\u003Cem>“It’s mainly because mortgage rates back in December 2005 were significantly higher, averaging 6.3% for a fixed-rate 30-year loan, compared with 4.6% in December 2018. \u003C\u002Fem>\r\n\r\n\u003Cem>The national median sale price in December 2005 – $190,000 – was lower than the $220,305 median in December 2018, but because of higher mortgage rates in 2005 the typical monthly mortgage payment was slightly higher back then – $941 – compared with $904 in December 2018.”\u003C\u002Fem>\u003C\u002Fblockquote>\r\nAdditionally, a recent report by the \u003Cem>National Association of Realtors\u003C\u002Fem> (NAR) showed that purchasing a home requires less of your monthly paycheck.\r\n\r\nAccording to the \u003Ca href=\"http:\u002F\u002Feconomistsoutlook.blogs.realtor.org\u002F2019\u002F04\u002F15\u002Ffebruary-2019-housing-affordability-index\u002F\">\u003Cem>Economists’ Outlook Blog\u003C\u002Fem>\u003C\u002Fa>\u003Cem>,\u003C\u002Fem> NAR’s \u003Cstrong>\u003Cem>February 2019 Housing Affordability Index\u003C\u002Fem> \u003C\u002Fstrong>showed that the \u003Cem>“percentage of income needed”\u003C\u002Fem> to pay the typical mortgage has decreased the last three months.\r\n\u003Cul>\r\n \t\u003Cli>November - 17.3%\u003C\u002Fli>\r\n \t\u003Cli>December - 16.9%\u003C\u002Fli>\r\n \t\u003Cli>January - 16.2%\u003C\u002Fli>\r\n \t\u003Cli>February – 15.9%\u003C\u002Fli>\r\n\u003C\u002Ful>\r\n\u003Ch3>\u003Cstrong>Bottom Line\u003C\u002Fstrong>\u003C\u002Fh3>\r\nWhat does this all mean to the current housing market? We think \u003Cem>First American\u003C\u002Fem> said it best in a \u003Ca href=\"https:\u002F\u002Fblog.firstam.com\u002Feconomics\u002Fhow-will-low-mortgage-rates-impact-housing-affordability-this-spring\">post\u003C\u002Fa> last week:\r\n\u003Cblockquote>\u003Cem>“The mortgage rate-driven affordability surge has arrived just in time… Rising affordability has already benefited home buyers and, if the lower rate environment persists, we’re in for a great spring home-buying season.”\u003C\u002Fem>\u003C\u002Fblockquote>","\r\nWhat does this all mean to the current housing market? We think \u003Cem>First American\u003C\u002Fem> said it best in a \u003Ca href=\"https:\u002F\u002Fblog.firstam.com\u002Feconomics\u002Fhow-will-low-mortgage-rates-impact-housing-affordability-this-spring\">post\u003C\u002Fa> last week:\r\n\u003Cblockquote>\u003Cem>“The mortgage rate-driven affordability surge has arrived just in time… Rising affordability has already benefited home buyers and, if the lower rate environment persists, we’re in for a great spring home-buying season.”\u003C\u002Fem>\u003C\u002Fblockquote>","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002Fwp-content\u002Fuploads\u002F2019\u002F04\u002F20190425-ENG-MEM.jpeg",false,[17,21,25,29,33],{"id":18,"name":19,"slug":20},5,"For Buyers","buyers",{"id":22,"name":23,"slug":24},6,"For Sellers","sellers",{"id":26,"name":27,"slug":28},11,"First-Time Buyers","first-time-buyers",{"id":30,"name":31,"slug":32},38,"Move-Up","move-up",{"id":34,"name":35,"slug":36},53,"Rent vs. Buy","rent-vs-buy","2019-04-25T10:00:35Z","2019-04-23T09:03:40Z",{"id":40,"slug":41,"title":42,"featuredImage":43,"publishedAt":44,"contentType":10,"isVideo":15},1331,"new-study-reveals-one-surprising-reason-for-the-inventory-shortage","New Study Reveals One Surprising Reason for the Inventory Shortage","https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2019\u002F04\u002F16152136\u002F20190424-Share-KCM.jpg","2019-04-24T10:00:53Z",{"id":46,"slug":47,"title":48,"featuredImage":49,"publishedAt":50,"contentType":10,"isVideo":15},1333,"existing-home-sales-slow-to-start-spring-infographic","Existing Home Sales Slow to Start Spring [INFOGRAPHIC]","https:\u002F\u002Ffiles.simplifyingthemarket.com\u002Fwp-content\u002Fuploads\u002F2019\u002F04\u002F23164814\u002F20190426-Share-KCM.jpg","2019-04-26T10:00:30Z",{"cover":52,"open":53,"shareSpread":54},"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Buyers-Guide-Cover-original.png","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Buyers-Guide-Spread-original.png","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Buyers-Guide-Magazine-original.png",{"cover":56,"open":57,"shareSpread":58},"https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Sellers-Guide-Cover-original.png","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Sellers-Guide-Spread-original.png","https:\u002F\u002Ffiles.keepingcurrentmatters.com\u002FKeepingCurrentMatters\u002Fcontent\u002Fimages\u002F20260603\u002F2026-Summer-Sellers-Guide-Magazine-original.png",[60,64,65,66,70,74,78,79,83,87,88,92,96,100,104,105,109,113,117,121,125,129,133,137,141,145,149,153,157,161],{"id":61,"name":62,"slug":63},1,"Uncategorized","uncategorized",{"id":18,"name":19,"slug":20},{"id":22,"name":23,"slug":24},{"id":67,"name":68,"slug":69},7,"Foreclosures","foreclosures",{"id":71,"name":72,"slug":73},8,"Infographics","infographics",{"id":75,"name":76,"slug":77},9,"Home Prices","home-prices",{"id":26,"name":27,"slug":28},{"id":80,"name":81,"slug":82},34,"Senior Market","senior-market",{"id":84,"name":85,"slug":86},35,"Mortgage Rates","mortgage-rates",{"id":30,"name":31,"slug":32},{"id":89,"name":90,"slug":91},41,"For Sale by Owner","for-sale-by-owner",{"id":93,"name":94,"slug":95},42,"Featured","featured",{"id":97,"name":98,"slug":99},45,"New Construction","new-construction",{"id":101,"name":102,"slug":103},52,"Luxury \u002F Vacation","luxury--vacation",{"id":34,"name":35,"slug":36},{"id":106,"name":107,"slug":108},80,"Time-sensitive","time-sensitive",{"id":110,"name":111,"slug":112},81,"Outdated","outdated",{"id":114,"name":115,"slug":116},147,"Internal","internal",{"id":118,"name":119,"slug":120},148,"Do Not Autopost","do-not-autopost",{"id":122,"name":123,"slug":124},320,"Inventory","inventory",{"id":126,"name":127,"slug":128},321,"Agent Value","agent-value",{"id":130,"name":131,"slug":132},322,"Affordability","affordability",{"id":134,"name":135,"slug":136},323,"Buying Tips","buying-tips",{"id":138,"name":139,"slug":140},324,"Downsize","downsize",{"id":142,"name":143,"slug":144},325,"Economy","economy",{"id":146,"name":147,"slug":148},326,"Equity","equity",{"id":150,"name":151,"slug":152},327,"Forecasts","forecasts",{"id":154,"name":155,"slug":156},328,"Selling Tips","selling-tips",{"id":158,"name":159,"slug":160},339,"Expired\u002FWithdrawn\u002FCanceled","expiredwithdrawncanceled",{"id":162,"name":163,"slug":164},340,"Price It Right\u002FOverpricing","price-it-rightoverpricing"]