Joe Biden’s economy is having a serious negative impact all across the country and as prices on everything we need skyrocket, the dream of owning a home is slipping away.
A new study, for instance, finds that it is now cheaper to rent than it is to buy a home in the country’s 50 largest metro areas. And this is putting serious pressure on home builders and sales.
It is more cost effective to rent a place to live than to own a home, Bankrate said in a report it published at the end of April.
While the cost of rent soared over the last few years, the cost of buying and owning a home has not only caught up to that rise in rent but has eclipsed it as mortgage rates have begun rising and low home inventory have created higher prices, the report adds.
The personal finance resources company notes that owning a home now costs nearly 37 percent more than renting.
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It was already so bad last year that Americans had to earn a record high annual income to