Many Americans are worried - thinking they can't afford to buy a home. Housing Expert Todd Wiley says they should beef up their credit rating and save a 5% down payment - because a house payment is lower than rent! "If you're renting an apartment right now, because of INFLATION, the prices continue to go up. A 650 square foot apartment: you're talking $1800 a month. That's higher than most house payments -- on a really nice house!" Wiley says the housing panic mostly comes from states with state taxes and lots of employees in the Tech Sector. Wiley continues:
"The Top Ten Metropolitan Areas that Have the Fastest Growth Rates are in states that have no state taxes!"
Half of Americans think a housing market crash is on its way. That same nationwide survey found half of us also think houses will become less affordable this year.... and higher interest rates scare them as well. Wiley says it matters where you live. " The home values around Texas are hanging in there. No home owners are putting up fire sale prices. It continues to remain strong!" Wiley's biggest concern is that inflation has caused rent prices everywhere to blow up - making it especially hard for families to save a 5% down payment and become home owners.
He says the housing market may have cooled here, but it's still solid..
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