Friday, May 28, 2010
by Broderick Perkins
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Deadline Newsroom - With the chances of home value appreciation looking dim, the continued risk of foreclosure and the cost of maintenance growing as a home ages, maybe owning a home isn't such a good idea right now.
That's what U.S. homeowners seem to be concluding. In a recent survey about renting versus owning, homeowners made up the majority of the respondents -- by a factor of more than 2-to-1 -- and yet 76 percent of all those surveyed deemed renting a better deal than owning a home in today's housing market.
As a homeowner, it's simply tough to shell out maintenance and upkeep cash on a property that offers little if any equity to tap for the expense. And with so much uncertainty in the job market, homeowners aren't sure they can hold on to what they've got.
Even if ownership comes with the promise of appreciation over the long haul, renters just don't want to risk what homeowners are already suffering in the current economic environment.
A Harris Interactive Survey for the National Apartment Association (NAA) said the number of people who believe renting is better than owning right now is up 5 percent over the 2008 survey for several reasons.
• You've got news! News that really hits home. Right here: Survey: Even Homeowners Say Renting Is Best Move
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Broderick Perkins, an award-winning consumer journalist, parlayed 30 years of old-school journalism into a digital real estate news service, the San Jose, CA-based DeadlineNews Group, including DeadlineNews.Com, a real estate news and consulting service and Web site, and the Deadline Newsroom, DeadlineNews.Com's news back shop.
Perkins was the first Examiner to cover three beats for the Examiner.com news service:
• National Offbeat News Examiner
• National Consumer News Examiner
• National Real Estate Examiner
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