Buy or Rent in Central OH – How to decide What is Right for You
Weather to Buy or rent in Central OH is on the minds of many Ohioans that are in the real estate market today. There are a lot of factors happening right now that weigh heavily on when the smart home owner will pull the trigger and buy a home verses renting. CORI LLC has provide this information on how to decide weather it is a smart move to Buy or rent in Central OH.
Should Ohioans Buy rent Central OH
It’s a tale of two economies, the economy of the unskilled, and the economy of the semiskilled and the skilled,” said Robert A. Funk, chairman and chief executive of Express Employment Professionals, a staffing agency based in Oklahoma City that operates in 49 states.
There is pent-up demand for those with skills, like machinists, engineers and information and technology workers, he said, but those without that edge are continuing to have a tough time making the decision when to buy or rent in Central OH so important.
“We’re out here on Main Street, not Wall Street,” said Mr. Funk, former chairman of the Federal Reserve Bank of Kansas City. “We get a feel of medium and small companies and their attitudes. They are reticent to hire because they are not sure which way the economy is going to go.”
For those looking for progress, this week brought evidence of good improvements.
A roundup of reports compiled from each of the Federal Reserve’s 12 district banks suggested that the overall economy expanded over the previous two months. The survey, known as the Beige Book, found: “Employment levels were up slightly over the reporting period, with some reports of layoffs. Wages rose slightly.”
The number of people applying for unemployment insurance also dropped last week, the 13th week in a row that new claims have been below 300,000. Although the four-week moving average edged up slightly to 275,000, it is still near a 15-year low
Despite low gasoline prices, which leave more money in people’s wallets, consumers have remained guarded, choosing to bank their savings rather than spend them.
What does this Mean for Main Street
An interest rate hike will impact everyone who has a home mortgage, car loan, savings account or money in the stock market. In short, life is about to get better for savers and a little harder for borrowers; Investors could also face tougher times. As the Fed signals its intention to raise rates, borrowers are rushing to get deals done now.
“People thinking of buying in Central OH should act quickly to lock in today’s lower rates,” says Dean Croushore, an economics professor at the University of Richmond and former Philadelphia Fed economist.
When the Fed likely raises rates this year, it will push mortgage rates and auto loans up, experts say.