Rental market increases across US

As the USA real estate markets show real signs of recovery tight credit conditions across the American home mortgage sector prevent hundreds of thousands of ordinary Americans from joining the property ladder. Residential rental costs have been steadily climbing for several months and in many areas throughout the States buying a property would be cheaper than renting on a monthly basis but many would-be home buyers are unable to take advantage of low house prices because they are unable to get a mortgage. According to research from John Burns Real Estate Consulting it is now cheaper to buy a property than it is to rent in almost every major city across the country but because financing is so hard to access thousands of families are not only stuck in rented accommodation but a high proportion are paying more than a third of their annual income just on rent and in New York one third of households spend more than half their income on rental charges.