WASHINGTON, DC—The math behind home ownership is a simple onefor many: is it financially smarter to rent or buy in yourparticular area? Granted, in recent years, many people have chosento rent for reasons that have nothing to do with money, but for themoment we'll set those aside.
The Most Stable HousingMarket in the US
In the DC area there has been one immutable fact that helps tipthe scale towards homeowner ship. The area is the most stablehousing market in the nation. That is according to FreddieMac's Multi-Indicator Market Index, orMiMi. The GSE just released it again on Wednesdaywith Washington DC ranked at 101. The other top stable marketsrounding out the top five are North Dakota (96.5), Hawaii (95.9),Montana (95.7) and Utah (93.3). In general, the nation's housingmarket is improving, according to the report. Compared to the sametime last year, 21 states and the District of Columbia had MiMivalues in a stable range. Today it is 33.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
