Housing Market Trends Report: Winter 2016
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Real Estate Agent Reviews Key Takeaways 2016 will be all about housingÂ affordability, pushing people outside city centers to the suburbs. National home values still lag 6.8% below their pre-recession peak. Current renters spend roughly 30% of their household incomes on housing; home buyers spend about 15%. 5 Even with less money down and a higher interest rate, rental costs are remarkably higher than homeownership costs. Millennials have conservative views ofÂ homeownership, but high rents are giving them incentive to buy. The question isnât âWhy donât millennials want to buy a home?â ItâsÂ âWhen and what can they afford to buy?â