Three Articles from March, April and Sept 2012 stating , it is still a good time to buy in the 2012 real estate market. Read Below:
By Les Christie @CNNMoney March 21, 2012: 5:13 PM ET
NEW YORK (CNNMoney) --
It's the eternal question in real estate: Should I buy or rent?
The answer has never been clearer: Buy.
Of course, many renters are not in a position to buy. For one, it's hard to get a mortgage these days, despite low rates. And paying rent can push them further away from being able to afford to buy.
"Rising rents make it harder for people to save for a down payment, which is the biggest barrier to buying a home that aspiring homeowners face," Jed Kolko, Trulia's chief economist. Read More >
by Clayton Closson on April 24, 2012 in
Buying a Home Is 45% Cheaper Than Renting
Jed Kolko, Chief Economist, Trulia Posted: 09/14/2012 9:34 am
The most important housing decision that most consumers face is whether to rent or to buy. So to help them with this decision, we took a look at the key market factors affecting the cost of homeownership.
First off, asking home prices have started to rebound and have risen by 2.3% year over year in August (3.8% excluding foreclosures); however, rents have risen more (4.7%). This means that prices are lower relative to rents than they were a year ago. But more importantly, mortgage rates have fallen: the best rates this summer have been around 3.5%, while last summer rates were closer to 4.5%.
Based on asking prices and rents during the summer of 2012, buying is now 45% cheaper than renting in the 100 largest U.S. metros, on average -- that's a savings of $771 a month.
If you plan to stay in a home for 7 years, which is the average time that Americans traditionally live in a home before moving again, it is more affordable to buy than to rent in ALL of the 100 largest metros in the U.S. Read More >
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