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News 12’s Kristie Reeter compares to two with statistics on this week’s The Real Deal.

Between rising rent prices and mortgage costs, many people struggle to decide between renting or buying a home. News 12’s Kristie Reeter compares the two with statistics on this week’s The Real Deal.

RENTING OR BUYING

Long Island

LI | Weather

LIFORECAST

To your weather. Now, we are in storm watch mode for the weekend, but the whole weekend won't be a washout here. No, I'm saying now it's a 5050 weekend. Saturday is the great day. I'm so excited for it. We're going to be in the fifties. So we've got this nice warm start for you guys and even Sunday will be warm. But on Sunday, that's when the stormy weather will get here, it's looking more likely now that we'll see scattered showers kind of on and off through the day. On Sunday, it won't be raining all day long. The best chance will be in Nassau County, but the heaviest steadiest rain, the strongest winds will come overnight. So after about 8 to 9 o'clock, heavy rain will move in, we could pick up 2 to 3 inches winds could be gusting close to 40 MPH. We just want to secure all your holiday decorations that are outside. It's good news that this is happening overnight. Hopefully, most of us will sleep through it and by Monday morning it will be clearing out. So tomorrow looks great fifties in the afternoon, we will have a period of some cloudiness, but then we get some sun at night. It's dry. Sunday morning is dry, but now you see more scattered showers about through the afternoon. The worst of it will get here late in the day. So this is 730 to 8 o'clock. Here comes that line of heavy rain. You see it, it's going to be raining pretty heavy for a while. This is midnight overnight, 3 a.m. to 4 a.m. we could have some flooding, but again, if it's overnight, it shouldn't be too bad. And by the morning, the front is out of here, it will be windy overnight as well. When the strongest winds here, you see nine o'clock, we're starting to see winds gusting 30 to 40 MPH, perhaps a little bit longer, um, stronger up on the north shore. Once that heavy rain goes by, strong winds are on the east end and then it's not as bad on Monday. So when the rain clears out, the weather will start to get better. So enjoy your Saturday, it's dry, it's warmer. We're in the fifties, 60 with showers, Sunday, heavy rain overnight next week looks nice. It's mostly sunny and seasonable with

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Weather

Brooklyn

BK | Weather

BXFORECAST

Well, we are on storm watch this evening as we make our way towards the weekend storm watch team HOA joining us right now here in studio and hope earlier this week, very chilly temperatures. We all have to deal with that. Now it's warming up, but we're going to have some rain that's going to come with it. Yeah, we're dealing with some rain and don't forget, we also saw some festive flakes that we saw some. But here's what you need to know for this weekend. It is going to be a 5050 weekend. Sunday will be a day that we need to watch. We're talking about showers and storms moving into our area starting Sunday morning and lasting into Monday morning commute. So the worst of the storm will start pushing into our area after 10 p.m. on Sunday and even lingering through the overnight. Some potential impacts flooding and wind damage, especially with winds that can gust up to 40 to 50 MPH. Even isolate gusts of 60 isn't out of the question. So let's time it out on your future cast again today. A beautiful day tomorrow. Do it again. It is gonna be a chilly start temperatures in the mid to upper forties and we will see the sunshine throughout the day and temperatures will be milder in the mid ff. So if you have anything to do, maybe holiday shopping tomorrow will be your best bet. Sunday does start off with some clouds and even some on and off showers throughout the morning. It looks the brunt of the system will start pushing into our area by Sunday evening. But Sunday afternoon, still dealing with that steady rain and look at those temperatures, upper fifties, low sixties. So can't even really go outside to enjoy the milder temperatures because we're dealing with this. Just the rain and the pockets of heavier downpours that can move through our area overnight and into Monday morning. So even though that the showers are coming to an end by morning, we're still going to be dealing with some of its impacts in terms of standing water, especially for those areas that have poor drainage. This is around 830 Monday morning. The showers are coming to an end, but look at those temperatures from sixties to forties in just a matter of hours and it is going to remain chilly throughout next week. Now, we're also seeing 2 to 3 inches of rainfall with the highest gusts pushing into our area by sun.

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Westchester

WC | Weather

HVFORECAST

Well, tonight, the Hudson Valley is bracing for rain as we head into the weekend. So what do people need to expect as we get those plans underway? Addison that Nikita, no matter where people go over the course of the weekend or even if they stay home, be prepared before the weekend is done to deal with this system coming in through the Hudson Valley area. So you may be having to deal with batches of rain and gusty winds coming on by maybe about 20 to 40 MPH if not higher than that. Talking about the second half of Sunday overnight and into early Monday, there may also be some flood concerns as well where most recently we did see from the National Weather service, a flood watch up effect all across the Hudson Valley. Maybe seeing on average about 1 to 2, maybe all close to three inches of rain coming on in as you move on in from Sunday into Monday right there where some of those high rainfall totals 3.3 is possible in Newburgh. But I think most locations will trend under 32 to 3 inches or so in that range, but bottom line is, it's still gonna be wet. It's gonna be windy out there. So it's breaking towards that forecast as we go on in past Saturday into Sunday. Saturday is the pick of the week. It's gonna be gorgeous. Get outside and enjoy perhaps strap down some of those holiday lights. Now, Sunday morning, 7 a.m. we have temperatures in white plains. Around 48 degrees gusts are slowly starting to pick up out of a south westerly direction. 10 to 15 MPH. Sky showers start moving in closer towards the lunchtime hours as the temperatures move up towards the mid FF we'll be seeing gusts maybe 10 to 15, close to 20 MPH over through the rest of the day. It's on and off batches of moderate, possibly even heavy rain coming on in as it's continue to get warmer. Upper fifties, close to 60 degrees. Gusts are increasing 10 to 20 plus MPH, but they'll continue to go upward as we move on through the evening hours as well. 61 degrees is possible in White Plains. If we hit that, that would tie a record high over across in Brewster may be seeing a brief downpour coming on in from a possible isolated embedded thunderstorm in this line right there, slowly coming up from the southwest heading up towards the northeast direction, going past 7 to 8 o'clock hour, close to midnight. Still very mild, very muggy out there. We got winds gusting still 20 to 30 plus MPH and the cold for itself is approaching overnight. Look at the temperatures they drop from around 60 to around 40 degrees. As we're watching that cold air starting to push on in the winds have switched direction from the southwest to a northerly direction and we're starting to draw in that drier, colder air. So I'm not too concerned with a changeover coming on in for everybody to a little wintry mix of snow. But it's possible, especially in the Catskills in the higher elevations past Sunday into Monday morning, we watch drier conditions move on in throughout much of next week. Overnight temperatures in the twenties and the thirties, patchy fog will be possible in a few spots. Let's briefly look at that visibility forecast going on in towards Saturday morning. A few locations will have that visibly starting to go down as more moisture is pushed up this way, temperatures on the rise as well heading in towards that storm's arrival, Sunday afternoon.

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Hudson Valley

HV | Weather

Bronx

BX | Weather

1110realdeal_2023-11-10-07-48-47

The Real Deal: How to decide between renting or buying a home

So to rent or to buy is a question of a lot of you may be asking yourself, rates are pushing mortgage payments higher but rent prices are rising too. News tells Christy reader compares the two with stats from our area in this week's real deal. The typical age for a first time Homebuyer is getting older. It used to be late twenties, then it was early thirties. Now that the median age of first time homebuyers is all the way up to 36. The reason the cost see for yourself from an affordability perspective, given high mortgage rates and high home prices, it might make more sense to rent versus buy right now throughout the state. In when we look across the counties, we track the median rental price is around 2100 and $75. We're thinking about buying with a 20% down payment and those high mortgage rates you're looking at around $2600. So what do you do? I checked in with an analyst at Bankrate who tracks all of this in terms of what's the right thing to do there, there's no real right or wrong answer but um, I mean, in general, over over a period of decades that you're going to generate more wealth by owning a home than by renting. He points out though that trying to time the market is tough. If you're financially ready to buy a home and you want to buy a home, I would say do it. Don't, don't try to wait for mortgage rates to fall, don't try to wait for, for home prices to come down because there's no sign that that's going to happen. And if you do lock in, you always have the option to refinance in the future. I'm Christy Reader and that's the real deal.

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