Buying still the best option
The housing shortage is the biggest problem local buyers are currently facing despite rising mortgage rates, according to Jennifer Kron of Moses Lake Realty Group and Angie Knutson of Movement Mortgage.
REBECCA PETTINGILL/COLUMBIA BASIN HERALD
Jennifer Kron of Moses Lake Realty Group said it is still a better investment to buy a home rather than rent.
Homes like this one for sale in Ephrata and elsewhere around the Basin are listed for higher than they were prior to the pandemic. While interest rates are climbing, this and similar homes can still be a good investment because they will gain equity over the life of a loan which can be used by the owner as they see fit.
COLUMBIA BASIN — Jennifer Kron a broker with Moses Lake Realty Group said it still makes more sense to purchase rather than rent, despite the increase in mortgage rates, a housing shortage and rising home prices throughout the Columbia Basin.
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