Rent or own? The affordability conundrum: "ATTOM Data Solutions reports that 64 percent of Americans now live in places — mostly big metro areas on the East and West coasts — where it is more affordable to rent than own. That means the monthly cost of a mortgage, mortgage interest, insurance and property taxes on a median-priced home in the area will eat up a larger percentage of the average monthly wage there than paying rent on a typical three-bedroom apartment."
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It isn't just the the cities on both coasts. The same is true of Chicago, as well as Las Vegas, Salt Lake City, Phoenix, Denver, and Austin. The reason is that in all these places, housing prices have inflated.
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