According to this chart from J.P. Morgan "Guide to the Markets" fourth quarter report, you can see that the national monthly mortgage payment on a home purchase has gotten cheaper than the national monthly rent payment!
The all-time high on mortgage payments happened in 2007 right before the market started declining in 2008. But while rent payments have continued to rise, you can actually get a mortgage with monthly payments that are lower than renting right now.
The bottom line is that if you are renting right now, you really should look into buying a home in Kansas City. Give me a call and I'll show you how much house you can get for your money!
Ron Henderson - 816-651-9001