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rent vs. buy

This week’s money news

July 1, 2024 By Liz Weston

This week’s top story: State and local minimum wage hikes kick in around U.S. In other news: July mortgage rates could follow house prices downward, corporations want you to rent, not own, and 7 states where will pump up gas taxes on July 1.

State and Local Minimum Wage Hikes Kick In Around U.S.
Minimum wage earners in Washington, D.C., will now make $17.50 per hour, more than in any state.

July Mortgage Rates Could Follow House Prices Downward
Mortgage rates are poised to edge lower in July as inflation cools.

Corporations Want You to Rent, Not Own. Can Lawmakers Stop Them?
Corporate landlords wield outsize market power. Congressional bills would force them to sell.

Heads Up, Drivers: 7 States Will Pump Up Gas Taxes on July 1
State taxes average about 33 cents per gallon, though they vary widely by state.

Filed Under: Liz's Blog Tagged With: apartment renting, gas, gas prices, gasoline prices, minimum wage, mortgage rates, rent vs own, rent vs. buy, renting

Q&A: Newlyweds wonder if it’s the time to buy a home

May 20, 2024 By Liz Weston

Dear Liz: My husband and I are newlyweds and looking into purchasing a home. However, many homes in our area sell for $50,000 and more over the asking prices, which already are pretty high. We have stable jobs, but our dilemma is whether we should go into the market now or continue to save and wait a year or two.

Answer: The best time to buy a home is when you can afford to do so. It’s hard to time any market, but that’s especially true for real estate. If you put off buying a home hoping for a correction, you could be waiting a long time.

The supply of houses for sale is low in many areas. Often homeowners are reluctant to sell, even if they want to trade up, downsize or move, because they don’t want to give up their low-rate mortgages. A drop in mortgage rates likely will induce more people to put their homes on the market, but also could increase competition as buyers get access to more affordable loans.

Also, many homes for sale in tight markets are deliberately underpriced. Sellers hope to spark a frenzy of offers over asking price. You’d be smart to get clear on how much you can afford to pay — consider consulting a fee-only financial planner — and to enlist the services of a good real estate agent who understands your local market.

Filed Under: Q&A, Real Estate Tagged With: buying a home, home affordability, home buying, homeownership, rent vs own, rent vs. buy

Tuesday’s need-to-know money news

October 12, 2021 By Liz Weston

Today’s top story: Make your money more exciting by keeping it boring. Also in the news: A new episode of the Smart Money podcast on finding a new job and rent vs. buy in a new city, 7 ways to make more confident COVID-Era business decisions, and why you might finally qualify for student loan forgiveness.

Make Your Money More Exciting — By Keeping It Boring
Growing your net worth doesn’t have to be a thrill ride. Boring money management allows you to live your life while your nest egg grows in the background.

Smart Money Podcast: Finding a New Job and Rent vs. Buy in a New City
Getting what you want out of a new job.

7 Ways to Make More Confident COVID-Era Business Decisions
Here’s how to make COVID-era decisions with less anxiety.

You Might Finally Qualify for Student Loan Forgiveness
New Public Service Loan Forgiveness rules mean hundreds of thousands of borrowers could have their loans forgiven faster than expected.

Filed Under: Liz's Blog Tagged With: budget tips, COVID-era business decisions, job hunting, rent vs. buy, Smart Money podcast, student loan forgiveness

Friday’s need-to-know money news

May 11, 2018 By Liz Weston

Today’s top story: Amazon Prime hits $119. You’ll probably pay it. Also in the news: Understanding a bear market, 5 money mistakes 20-somethings make, and the 3 best reasons to rent your home instead of buying.

Amazon Prime Hits $119. You’ll Probably Pay It.
It’s about more than just free shipping.

What Is a Bear Market?
Investment prices are dropping.

Ask Brianna: 5 Money Mistakes 20-Somethings Make
How to side step them.

The 3 best reasons to rent your home instead of buying
Not every reason is financial.

Filed Under: Liz's Blog Tagged With: 20-somethings, Amazon Prime, bear market, Investments, money mistakes, real estate, rent vs. buy, stock market

Tuesday’s need-to-know money news

March 8, 2016 By Liz Weston

Zemanta Related Posts ThumbnailToday’s top story: How to prevent identity theft. Also in the news: The costs that are often overlooked when deciding to rent or buy, reasons to file a tax extension, and how you’re using your credit card incorrectly.

How to Prevent Identity Theft
Staying one step ahead.

The Major Costs People Often Overlook When Deciding to Rent or Buy
What you need to taje into consideration.

6 Reasons to File a Tax Extension
Beyond procrastination.

5 Ways You’re Using Your Credit Card Wrong
Bad credit habits you should kick.

6 times it’s more expensive to be a woman
Happy International Women’s Day!

Filed Under: Liz's Blog Tagged With: Credit Cards, Identity Theft, International Women's Day, rent vs. buy, tax extension, Taxes

Friday’s need-to-know money news

May 23, 2014 By Liz Weston

Split Wedding CakeToday’s top story: How to determine whether to rent or buy. Also in the news: Becoming a better car buyer, how to save during wedding planning, and how to protect your finances during a divorce.

Is It Better to Rent or Buy?
These calculators will help you decide.

3 Ways to Be a Better Car Buyer
Negotiating is key.

6 Secrets From Couples Who Saved Big on Their Weddings
The before.

Keep an Eye on Finances During a Divorce
And the after.

5 Tips to Calculate Your Financial Worth
Knowing what you should be paid is essential during a job hunt.

Filed Under: Liz's Blog Tagged With: car shopping, Divorce, financial worth, real estate, rent vs. buy, weddings

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