Why mortgages may not be the move in Columbus anymore
Is it better to be a renter than a homeowner?
Sounds bizarre but a recent study may actually support a “yes.”
Recent tax reforms in 29 of the nation’s 35 largest markets, including Columbus, are positioned to benefit renters.
Columbus Business First reports the $24,000 increased standard deduction for married homeowners is now available to married renters with the Tax Cuts and Jobs Act.
A senior economic advisor and director of research with CBRE who conducted the study said with limitations on mortgage interest, local tax deductions, and the new tax policy’s raising of the standard deduction, renting may be more appealing now than ever compared to home owning.
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