Morning Minute: Buying beats renting in just three years on average, Zillow finds

Rent vs. Buy? Zillow research finds it will take just 2.8 years for a renter in Chicago to reach the “break-even horizon – how many years of homeownership it would take before owning a home becomes more financially advantageous than renting the same home.” Nationwide, it’s 3 years.  Read more in the Chicago Tribune.

In other news:

U.S. regulators extend deadline for homeowners seeking foreclosure review. (Chicago Tribune)

Now is the right time to buy a house (Wall Street Journal)

Mortgage rates rise, ending record streak (CNNMoney)

 

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About Stephanie Sievers

Stephanie Sievers is Senior Editor for the Illinois Association of REALTORS®. She serves as Senior Editor for IAR publications including the Illinois REALTOR® magazine and all other IAR publications. She is responsible for developing content for the Illinois REALTOR® Weekly Connection e-newsletter, coordinates the IAR Twitter account content at ILREALTOR and plans and develops content for videos. She assists in developing and writing content for the IAR blog. She also is involved in researching and drafting news releases and coordinates the news media distribution database and newsclips reports for the Association. She also assists in IAR spokesperson training seminars and is involved in development of association briefing materials on issues. She assists with the housing statistics program and reports.