This post was contributed by a community member. The views expressed here are the author's own.

Real Estate

Rent Prices Continue Going Up, Up, Up

Face the facts, renting just doesn't make sense... National rent prices are through the roof with no end in sight. Make the right decision.

Face the facts, renting just doesn’t make sense...

National rent prices are through the roof with no end in sight.

A lot of people out there are facing a tough decision. Should you sign a lease, or sign a contract to buy a home? There are options, and there are definite consequences to your decision.

Find out what's happening in St. Charlesfor free with the latest updates from Patch.

Compared to the “pre-bubble” years of 1985 to 1999, buying a home is over 30% more affordable now. Looking at the same time period, renting a home is 20% less affordable.

rent-price-prediction-1024x768.jpg

Find out what's happening in St. Charlesfor free with the latest updates from Patch.

According to Zillow’s Chief Economist Stan Humphries, There’s no end in sight.

Rents are going to continue to rise and every time someone moves into a rental situation while rents are skyrocketing, it makes it that much more difficult to save for a home.

Make the right decision. If you would like to speak with a real estate professional who can offer unbiased opinions and guidance, contact The Kombrink Lobrillo Team at RE/MAX Great American North today at (630) 488-3300.

The views expressed in this post are the author's own. Want to post on Patch?