Seattle Condo Available: $270,000
When is the right time to buy? That is the question many generation Y
Seattleites are asking themselves as the price in rent continues to
climb, and mortgage rates begin to slowly climb. Seattle residents in
their 20s are currently watching rent increases surge, and are all
wondering when interest rates will begin to be too high for them to
afford as well. This age group became young adults at the time of the
market’s slippery slopes in 2007, and do not want to be stuck in the
financial crisis their family and friends may have suffered before. The
tug of war between rent vs. buy has been debated time and again, and it
seems to have comes to a head in today’s marketplace.
The median Seattle home sale price is up 15% in August from a year
ago, and rent is up 6% in comparison to last year; is it time for
generation Y to take the purchasing plunge? There are a lot of factors
for them to consider, and
contacting a local real estate representative is a step in the right direction to determine if it’s time for you.
