Buying or renting a house what is economical for Americans in 2022?

The mortgage rate are high in America and it is eating in to purchasing power of American home buyers

The mortgage rate is high because of the federal bank raising its interest rate

The raise on interest rate by the fed is its response to control the high inflation in America

The demand for home from the standpoint of buying the property is decreasing

Added to that there has been increase in inflation in almost all essential condition plus there is increase in mortgage rate

So the demand for buying home property has come down at the same time people are renting more

The increase in demand for renting is driving up the rate of renting residential properties high

There is situation of concern from the seller standpoint as the USA today reported that one in five sellers had to take pricecut