A very interesting video clip from Marcus & Millichap’s Hessam Nadji who discusses the overall housing market recovery in the US. The most interesting part to note is the slides which show that Chicagoland is one of the top ten markets in which buying makes more sense than renting.
Assuming that you can qualify for a mortgage, based on current pricing it is generally speaking less money to buy versus rent a similar home. This also speaks volumes about the housing market’s overall affordability and pricing at the moment. So even if you currently have a home, it seems now is the time to make a move up if you and your family will need more space in the coming years!
Click Here to view the Marcus & Millichap video.