Dont Rent BUY NOW

Dated: June 8 2011

Views: 4742

It is cheaper to buy then rent in the Nyacks, Rivertowns like Piermont, and Throughout all of rockland county from Stony Point to Suffern time is now... According to NPR this AM: "While it's been getting cheaper to own a home, it's actually been getting more expensive to rent a place to live. Gleb Nechayev is a housing economist with CBRE Econometric Advisors, a real estate research firm in Boston. Nechayev has a chart that shows the cost of owning a house compared to renting. Back in 2006, the cost-of-owning line on the chart was reaching its peak, but now the line has plunged down — like the cliff of a mountain. The Buy vs. Rent Ratio Over Time These days, the monthly cost of renting or buying a home is about the same. That one-to-one ratio is the lowest in 25 years. That's down from 2006, just before the housing market crashed, when the cost of owning was 46 percent higher than renting. "We are at the very bottom of that mountain right now and we have never seen that ratio so low," Nechayev says. Nechayev's data goes back to 1986. And he says since then, it's never been this cheap to own a house as compared to the cost of renting." (national public radio, morning edition, June 8, 2011) Chart source: Gleb Nechayev/CBRE Econometric Advisors
Blog author image

Kacy Coyle Dow

Growing up in Rockland County and being a 3rd generation realtor, it was important for me to continue the "Coyle & Coyle" family tradition of real estate. I understand the importance of professionali....

Want to Advertise on this Site?

Latest Blog Posts

Fall Apples And Apple Cider Vinegar

Fall is my favorite season in Nyack and everywhere else. The cool, crisp air and the fresh apples have always been the best parts of the season for me. And, now I've learned how to make my own Apple

Read More

August Holidays You Probably Did Not Know About

It seems there's a new holiday every time I turn around! There are some interesting ones in the month of August and I thought you'd like to know about them. My favorite? Probably the "Just Because"

Read More

Killing Weeds Naturally Around Nyack

I don't know about you, but my flower beds need a thorough de-weeding! Because of my dogs, though, I don't want to use chemicals to accomplish the task. So, here are some other ways to keep the

Read More

Decreasing Plastic Waste In Nyack

Great article attached regarding "swaps" to make to reduce plastic waste in our everyday lives. And, please be gentle with our watery natural resources (rivers, lakes, oceans, etc.) The number of

Read More
Fair Housing Icon NY Fair Housing Notice