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Buying Home Is Cheaper Than Renting in 72% of Big U.S. Cities, Trulia Says

Buying a home is cheaper than renting in 72 percent of the largest U.S. cities, led by Miami and Las Vegas, as an increase in foreclosures boosts demand for apartments, said real estate data provider Trulia Inc.

The cities where purchasing is most affordable include Arlington, Texas, and Mesa and Phoenix, Arizona, according to Trulia’s latest Rent vs. Buy Index, released today. The San Francisco-based company compares the costs of leasing and buying a two-bedroom home in the 50 biggest cities each quarter.

“Many former homeowners have flooded the rental market,” Trulia Chief Executive Officer Pete Flint said in a statement. “Following the principles of supply and demand, renting has become relatively more expensive than buying in most markets.”

http://www.bloomberg.com/news/2011-01-24/buying-home-is-chea...



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glad I sorta own

Although we never really "own" our homes because of taxes I'm still glad I'm not a renter. It is a devils game as far as the interest paid and taxes, but right now you can still right them off when filing income tax. For me that helps a bunch. Once that is taken away, then it's game over and I walk away. Not sure about the rest of the country but renting here in Phx metro area is not easy. Decent places are run by big property management corporations and you have to pass credit and background checks and the restrictions as far as pets and what you can do and can't do is stifling. Knowing the hell my daughter has gone through I would not want to have to rent. There is so little, if any, privacy anymore but at least I can pretty much do what I want in my home. Glad I bought when I did, I'd hate to have to try to finance something now even though things are much cheaper.

chinkadaro

Yes but the fact that

No one can borrow money and do not have cash makes it impossible to buy. That and the fact the property taxes will double in the next few years will only mean you will be renting your house from the government.

In CT on average taxes are over 6k per year for a less then average home. so good luck with that.

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maybe so...

yet maintaining a home is where the issues lie imo.

...utilities, maintenance, insurance, and most of all taxes.

donvino