Renting A House Is Cheaper Than Buying For Most Of The Country – Except in Cape Coral
Even though home prices have come down throughout most of the country, it’s still cheaper to rent, rather than buy. Unless you’re in Cape Coral. According to a study from FAU, “The Beracha, Hardin & Johnson National Price-to-Rent Ratios Monthly Report for January shows that homes still are selling for more than they should in 97 of 99 markets, an indication that renting is more favorable than homeownership. ”
The study shows that across the United States home prices are still too high and have more room to come down. Ken H. Johnson, Ph.D., a co-author of the report and an economist in FAU’s College of Business states “While rents also are on the rise, consumers are better off financially in most areas if they hold off buying until home price declines level off.” Although rent prices in most areas have come up, Johnson believes renters are better off waiting for further home price declines. Except in two markets. Springfield, Massachusetts and Cape Coral-Fort Myers.
The study shows that an extreme lack of supply in the rental market of Southwest Florida has driven up rental rates significantly. Partly because of the damage from Hurricane Ian. Also the influx of new residents. The construction of needed units will help bring the housing crisis under control, the researchers said. They aren’t saying that home prices won’t come down in Southwest Florida, they’re saying that the rent is so high right now that you’re probably still better off buying anyway. There’s a LOT of new construction that hopes to alleviate that.
But while both rent and purchase prices scream higher here in Southwest Florida, there is an additional point to be made.
Up until last week, mortgage rates were steadily climbing, making buying more costly. Then on Friday, Silicon Valley Bank collapsed and interest rates flipped. Today’s mortgage rates are actually the lowest they’ve been since December. Making buying even more attractive. Thus the dilemma.
Buy now and start building equity in your new home. Or
Wait and see if the market cools and you can get a better price.
The situation is incredibly volatile. There’s no way to know what’s going to happen next with home prices here.
At least there’s cookies.
Crumbl Cookies Opens In Cape Coral
Crumbl Cookies opens in Cape Coral on Friday, March 17th. It is a national cookie chain that is known for their fresh, flavorful treats. The treats are packaged in a signature pink box. There are about 750 Crumbl locations around the country. However, until this week, the only one in Southwest Florida has been in Naples. It opened last year on Naples Blvd. We know how much Southwest Floridians love their cookies, their cakes, and just desserts in general, so this is some tasty good news.
Crumbl Cookies bake fresh daily and always have something new and different to try.
Crumbl has some 200 different flavors on its roster. The Milk Chocolate Chip is a flagship and is always found in the stores. Flavors rotate weekly so you always have a different selection. Fans check the website each week to find the six cookies that will be coming out of the ovens. In addition, there is always a so-called “Mystery Cookie.” Unique to Crumbl, not all cookies are hot. Some are chilled. Other’s are more cake-like. There is a cookie for everyone here. Wether you gift them or take them home, Crumbl offers a variety of box sizes with four and six packs being the most popular.
The newest cookie shop is at 1519 NE Pine Island Rd, Suite 150. It’s across the street from FOS Furniture, next to Mission BBQ. Doors open Friday at 8am and stay open until midnight for you late night snackers.
Crumbl Cookies opens in Cape Coral this week. To get primed and ready, check out some of the photos in these posts. Go and enjoy.
Have you seen the signature box
Here it is. Pretty in pink. Once you know, you know.
