Actress Ayo Edebiri, known for her remarkable performances on the TV show “The Bear,” has recently achieved great success in the entertainment industry. With Golden Globe, Critics’ Choice, and now Emmy awards under her belt, one might wonder how she manages to stay humble amidst all this recognition.
During the Emmy Awards, Edebiri highlighted a prevalent belief about the financial advantages of homeownership versus renting. This idea suggests that renting implies a lack of progress or accomplishment, as it does not contribute to building equity. However, recent challenges in the real estate market have made buying a home increasingly difficult due to surging prices and rising interest rates.
According to insights from real estate technology platform Cadre, the gap between renting and homeownership is currently at its widest since 2000. In July 2023, Cadre’s analysis revealed that buying a home was approximately 62% more expensive per month than renting one.
These figures align with data from the National Association of Realtors, which reported a median sale price of $387,700 for existing homes in the U.S. in November. Additionally, there have been discussions about potential rate cuts in 2024. Conversely, Redfin data shows that the median asking rent in the same month experienced its largest decline in over three years, resting at $1,967.
Given this significant difference between monthly mortgage payments and rent costs, it is clear that Edebiri should not be disheartened about her choice to rent at this time. Although her salary for “The Bear” remains undisclosed to the public, she is expected to receive a substantial raise for the show’s upcoming third season.
At 28 years old, Edebiri has already left an indelible mark in the industry, with notable appearances on “Abbott Elementary” and voice-acting roles in popular animated films such as “Spider-Man: Across the Spider-Verse” and “Teenage Mutant Ninja Turtles: Mutant Mayhem.” When asked if she had dreamt of winning acting awards as a child, Edebiri candidly shared that her aspirations were focused more on practical matters, like having dental insurance.
Continue reading for an insightful look into the young house hunters who are reevaluating their beliefs about homeownership.