longisland

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

Hopefully you can enjoy it. Check out the sunrise this morning doesn't exactly look cold, but it was a cold start to the day. Still quite a few people out on the boardwalk, enjoying the nice weather and the fresh air that was by Andre Navarro. A fantastic photo. What you can expect overnight is temperatures near 30 degrees. It's cold but it's quiet. Tomorrow, we get up to about 41 some sun in the morning. A couple of clouds in the afternoon just with the cold air in place. A storm is passing to our south that might bring in a very brief Sprinkle or flurry. I think the best chance for that is around the east end. So most of you will end up staying dry and the cold will kind of settle in for the next two days. So 6 1535 Glen Cove, 36 in Medford. You see through the day, we kind of a hard time getting to 40 degrees. We'll do it briefly. Skies will clear at night. Thursday, we'll start off with some sun again. We are in the twenties to near 30 but not much of a wind. So it won't feel that bad. And in the afternoon trying to get up to 40 you do see that extra cloud cover around with the cold air. Now, by Friday skies are clearing, we get more of a southwest wind and temperatures begin to warm up. So Friday afternoon will be nice and seasonable. We hit about 50 Saturday sunny skies around the tri state temperatures in the low to mid fifties. So definitely that mild feel and then our weather will change late Sunday. So the good news is now that most of Sunday will be dry. The rain is trending later in the day. This is four o'clock rains on our doorstep. Most of this wet weather is not going to come through um until even after eight o'clock. So this is more of a Sunday evening, Sunday night thing and the rain will clear by Monday morning. So it's fast moving, but when the front passes by, it will be windy. So just kind of keep that in mind if you're going to be traveling. So cold weather will settle in for tomorrow and Thursday temp me 4050 sat uh Friday, Saturday looks amazing. There's that rain on Sunday with highs near 60 will clear out and get back to cooler weather for next week.

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Weather

Brooklyn

BK | Weather

BXFORECAST

Quite the operation they've got over there. Julio. Great. Look at what the post service service has to deal with. You know, what's the saying? Right? Neither rain nor sleet nor snow. That package are going to get it where it needs to go. We don't have any of that in the forecast, but for the mail carriers tomorrow and everybody else to bundle up, I guess. Yeah, the temperatures will be in the mid to upper 30 to start tomorrow and we are seeing some rain and maybe even some festive flakes in the near future. So that's something that we need prepare for as we get through the next couple of days. But 37 degrees mostly cloudy sky that puffer jacket will do you some good and some extra layers and you can grab the tins or the Uggs, some things, they just keep your feet warm because tomorrow's highs really struggle to get to the low forties. This is where we're going by tomorrow afternoon. 4 p.m. feeling like near 32 degrees across the boughs and it gets even colder, waking up on your morning. This is going to be the core of the cold we feel like temperatures will be in the mid twenties. So that's what you need to dress for Thursday morning. And even through the majority of the afternoon, we feel like temperatures will still be in the thirties. It looks like Friday. We have one more cold start to the day and then temperatures really begin to turn around. And we're seeing the fifties back by Friday and even into Saturday, which is going to be the pick of the week. Here's why temperatures will be in the mid fifties. It's gonna feel and look nice to be outside. And we're finally seeing a return of that sunshine that we haven't really been experiencing. So we're also turning the page to Sunday, which is our next day that we're tracking some wet weather. So here's what we know so far, still several days out, we're still fine tuning the timing of the system, but expect some widespread rain wind, some thunderstorms and this can start moving into our area Sunday evening into Monday.

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Westchester

WC | Weather

wchvwxbdPM125

We're gonna keep it just rain coming on down. Although you may see a flurry or two for portions of Wednesday afternoon, Thursday afternoon, but that's it, a flurry or two. We do have a pretty much substantial rain chance coming our way for Sunday. As once again, like this past weekend, we deal for split weekend, Saturday looking nicer than Sunday's time frame. And so Sunday may be along the stormy side, but Wednesday and Thursday coming on up feeling colder but staying mainly dry overnight. It's a light breeze with a continued chill in the air. Here's what we can be anticipating for Sunday. We have an area, blood pressure pushing upward in towards the northeast that allows more moisture to be pulled this way and some gusty winds will start to build on in for Sunday afternoon in through Sunday evening. Once this front passes us by, by early Monday morning, we're talking about pre dawn, we'll get some colder air to come rushing on in drier air as well. So we'll shut down that rain chance that you'll be dealing with potentially if you're out and about very early in the morning. But overnight tonight, it's mostly cloudy skies, temperatures cooling down towards the mid thirties, maybe feeling in the upper twenties and a few spots whenever you do get a light breeze to come on through. The reason why it's cloudy. Hope we got a system down towards our south and west that's heading on down towards the Mid Atlantic States. So we're not seeing any of this precipitation coming on through, but we are dealing with the cloud cover coming on in overhead. So later on tonight, 845 cloudy skies, there's that Florida too in the Catskills, same thing as you go out in towards tomorrow morning. Then by tomorrow afternoon, some sunny breaks are possible, West Point, you may see a flurry of two in towards three o'clock. And then by Wednesday evening, we're clearing out those skies temperatures though, hanging out in the low twenties and unfortunately getting a little bit colder than that. So moving on in past Wednesday into Thursday, we see our high temperatures struggling to get up into the upper thirties, Friday. Much better by comparison, upper forties. Saturday's the pick of the week. 54 degrees poly cloudy skies get out and enjoy before rainy, windy conditions arrive on Sunday.

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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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