Why Renting is Cheaper than Owning Right Now!

Ken McElroy Show

Ken McElroy

Business, Investing, Education, Business News, News

4.8 • 692 Ratings

🗓️ 19 December 2023

⏱️ 53 minutes

🔗️ Recording | iTunes | RSS

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Summary

Join Ken & Danille as they discuss why renting is currently cheaper than owning. They will discuss the following factors impacting the housing market: a lack of available houses keeping sale prices high, increasing supply of apartments stabilizing rent prices, historically high mortgage interest rates leading to expensive monthly payments, affordability challenges for first-time buyers with high home prices and down payments, low personal savings rates, and rising costs associated with homeownership such as property taxes, insurance, and maintenance expenses. The concept of 'renter nation' refers to a growing trend where more people choose to rent instead of own, influenced by these economic and market factors.

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Visit Ken's Bookstore: https://kenmcelroy.com/books

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ABOUT KEN: Ken is the author of the bestselling books The ABC’s of Real Estate Investing, The Advanced Guide to Real Estate Investing, and The ABC’s of Property Management. With over two decades of experience in real estate investing, Ken McElroy is passionate about sharing the good life by helping real estate investors grow and prosper. This podcast is a place for Ken to discuss numerous topics connected to real estate investing, including finance, budgeting, the entrepreneur mindset, and creating passive income. Ken offers a wealth of personal experiences, practical advice, success stories, and even some informative setbacks, all presented here to educate and inspire. Whether you’re a new or seasoned investor, the information and resources on this channel will set you on a path where you and your investments can thrive.

Ken's company: https://mccompanies.com

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Transcript

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0:00.0	Welcome to the Real Estate Strategies podcast, where we host in-depth conversations on everything
0:07.8	real estate with the industry's biggest movers and shakers. I'm your host, Ken McElroy, joined by my co-host,
0:14.6	Daniel. Let's get right into this episode. Hello and welcome to the Ken McElroy show. I'm your
0:19.7	host, DeNeal, here with Ken. What's up, the Ken McElroy Show. I'm your host, Danielle, here with Ken.
0:21.4	What's up, everyone? We are getting close to Christmas. We have about a week. Oh, my gosh.
0:29.4	I am behind this year. I know. We just put up our tree yesterday and I put the ornaments on it
0:36.4	last night and we are going to decorate a little more
0:39.4	tonight. Yeah, yeah. Hopefully you guys are enjoying yourselves and that takes some time off
0:44.8	and relax these next couple weeks are good, although I got a closing tomorrow and a new deal.
0:52.6	I'm trying to put out here by the end of the year.
0:54.9	So I do have a couple things going on.
0:57.3	Yeah, it's going to be nice, though.
0:58.8	We're going to go to Seattle, see your fam, and then celebrate Christmas here.
1:03.4	So today we're going to be talking about why it's cheaper to rent than to own right now.
1:09.1	But before we get into that, let's hop into the
1:14.1	Twitter questions of the week. Can you ask, do you prioritize the property or the market when
1:20.2	investing? Christopher says, property always, because it allows me to focus then on who I will manage in the in what I will manage
1:29.1	the right one will show up in any type of market yeah I I probably would go with
1:36.5	market really yeah and I'll tell you why um by the way I completely understand um some of you might not be in my camp. The thing is, I bought
1:49.5	really good assets like right now. Let's just talk about that. Like people have bought pretty well
1:55.8	in most cases, maybe overpriced here and there. But we're starting to see signs where the market's changing.
2:03.9	Okay, so you might be able to buy a trophy property, trophy asset, whatever it is,
	...

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