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Depending on where you live, much or all of that value goes away if it’s 35-50 percent more expensive to own. Especially if you choose to invest the savings.
They said 14% in the article. Don’t go doubling it or more for the sake of winning an argument.
Commercial real estate investment firm CBRE pegs the premium to buy versus own at about 35% earlier this year, with the dip in mortgage rates in the fall helping bring that level down from a record high of 52%. Their measure includes the cost of mortgage insurance that most lenders require but doesn’t factor in expenses like homeowners insurance or upkeep.
We’re talking about two different things.