WHY RENTERS CAN’T MAKE THE MOVE

As rents rise, buyers look to buy, BUT NOT THIS TIME.  Rent increases  are outpacing wage gains.  That means the tenant’s income is being eaten up in rent, making it harder to save for a down payment.   Also new homes not being built fast enough, but this pushes prices UP, so some renters have less money for a downpayment.  Until builders contribute to the overall housing stock t a more normal pace, HOME PRICES AND RENTS WILL CONTINUE TO RISE,  according to Lawrence Yun chief economist at the National Association of Realtors.