Kathy Phillips-Rhode Island Realtor

🚨 Is the real estate market heading for a crash? 🚨

Experts say no.

Talk of recession has led some Americans to fear a housing crash like we saw in 2008. But many economists say that outcome is unlikely.

In 2023, housing inventory remains low compared to demand, unlike in 2008 when we had a housing surplus. Plus, lending reform has significantly reduced the likelihood of defaults.

While market uncertainty is always nerve-wracking, real estate remains a solid long-term investment—and slower markets are often the best time to get a good deal on a home.

Want to know more about where the U.S. real estate market is headed in 2023? Check out our latest blog post!

🔗 [https://pelusoproperties.com/2023-real-estate-market.../

Do you know your community’s price-to-rent ratio?

It compares the cost of renting versus buying a home.

To calculate the price-to-rent ratio, divide your area’s median home price by its median yearly rent price. The higher the ratio is, the more expensive it is to buy compared to rent.

Even if renting seems like the better bargain today, it’s still important to consider the big picture. As the years go by, homeowners can gain equity and pay a fixed mortgage payment. Renters, on the other hand, face price uncertainty and miss out on equity gains.

Trying to decide whether buying or renting is right for you? Check out our latest blog post for more key tips.

🔗 [https://www.linkedin.com/pulse/buy-now-rent-longer-5-questions-answer-before-your-first-tonya-peluso/