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The Bigger Picture Revealed by This Homebuying Stat

The finding that 64% of the population lives in markets that are more affordable to rent than to buy shows that homebuying will continue to be an uphill battle in 2018, ATTOM Data’s Daren Blomquist tells GlobeSt.com.

Daren Blomquist Blomquist: “We are seeing some concerning affordability numbers for rents that indicate there is not much runway left in raising rents unless we see stronger wage growth kick in.”

IRVINE, CA—GlobeSt.com recently reported that buying a home is more affordable than renting in more than 54% of US markets, according to a report from ATTOM Data Solutions. However, the report also revealed that 64% of the population lives in markets that are more affordable to rent than buy, showing that homebuying will continue to be an uphill battle in 2018, the firm’s SVP Daren Blomquist tells GlobeSt.com. We spoke with Blomquist about what the report data says about the future of housing and multifamily.

GlobeSt.com: What does this data say about the future of housing and multifamily?

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Carrie Rossenfeld

Carrie Rossenfeld

Carrie Rossenfeld is a reporter for the San Diego and Orange County markets on GlobeSt.com and a contributor to Real Estate Forum. She was a trade-magazine and newsletter editor in New York City before moving to Southern California to become a freelance writer and editor for magazines, books and websites. Rossenfeld has written extensively on topics including commercial real estate, running a medical practice, intellectual-property licensing and giftware. She has edited books about profiting from real estate and has ghostwritten a book about starting a home-based business.

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