Buy v. Rent/Good Time to Buy?

Recently Trulia compared the median list price with the median rent

Posted on Friday, February 04, 2011

Recently Trulia compared the median list price with the median rent on two-bedroomapartments, condominiums, townhouses, lofts and co-ops listed on its website, andcompared that to ownership costs including mortgage payments, property taxes andinsurance. It determined that buying a home is cheaper than renting in 72% of thelargest U.S. cities, led by Miami and Las Vegas. People have to live somewhere, right? And if your credit is shot... Trulia's CEO stated, "Following the principlesof supply and demand, renting has become relatively more expensive than buying inmost markets." RealtyTrac has reported that 2.87 million homes received notices of default, auction or repossession in 2010, while apartment vacancies are at a 2-year low. It is no surprise that the top 10 cities where buying is cheaper areall in Florida, Nevada, Texas, Arizona and California, as, except for Texas, thosestates were among the five with the highest foreclosure rates in 2010. Crisman


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