This stat will blow your mind. I had a chance today to read through the Wadsworth Multifamily report for Salt Lake City Q3. When comparing homeownership to renting in the area, they provided this wild statistic: Right now, the cost of owning a home is 1.9x the cost of renting. Something has to change, this unaffordability can't continue. #realestate #affordability #CRE #saltlakecity Access the report here:
Jason Shepard
10mo
Wow! Doesn’t surprise me. I’ve been looking for homes in thay markets for 5 years now and blown away at the 2-3x increase that market has experienced during that time frame.
Mother | Advocate for People-Centric Leadership | Championing Work-Life Balance & Team Development
10moIt's why we didn't end up buying....again. I work in the renting industry, but I desperately want to settle our roots and find OUR home. However, a home built in 2014 that clearly needs remodeling, is still $5k/month. Not including utilities, property tax, insurance and the remodel. We also don't qualify for Utah's first-time home buyer program because we make too much money. So, we're still renting. Like you said, this can't continue, but when is that ceiling going to break??