Home Buyers willing to spend more on homes – Most renters think renting is better

Construction spending was up in February after being unchanged in January. Spending on private residential projects increased 0.7%, after falling in January.Home buyers are blowing their budgets to snag their dream houses as prices rise. A third of buyers spent an average of $16,000 more than they planned. Rising home prices may keep some out of the market. A recent Freddie Mac survey finds 67% of current renters view renting as more affordable than owning. Courtesy of Earl Proeger with On Q Financial