For consumers weighing up buying their first home versus staying in rented accommodation, headlines about rental prices coming down may sway their decision. According to self-made property millionaire Barbara Corcoran that choice is "dead wrong"—and individuals need to bite the bullet sooner rather than later.
The bar to get into the housing market is currently high: according to the National Association of Realtors the affordability of homes across the U.S. is at a three-year low. Figures for October suggest the median qualifying income for a family home is now $108,432 due to higher mortgage rates leading to increased monthly payments.
