Marketplace today talked of the value of buying vs renting.  They noted that housing starts are up, and there is a 17 year low in mortgage lending.  They implied that the crazy high cost of renting is pushing people into owning their own homes.  And rents are predicted  to continue to rise.  It’s, on average, 34% cheaper to buy in the DC Metro Area than it is to fork over rent, according to Zillow (see earlier post below).

If it’s so awful for renters, why don’t they go out and  buy their first home?  Savings.  It’s hard to save when you are paying such high monthly rent.  Our own District government recognizes this.

Just because your mindset says you cannot afford to buy a home, doesn’t mean that is true.  Perhaps it’s time to talk with me about programs like DC Open Doors that cover your down payment.  Is it time to talk with a mortgage broker so you can a clear picture of how much/little you need to purchase your first home?