Should You Rent Or Buy? Use This Calculator…
The housing marketing is extremely high here in the Bay Area right now.
It’s so high that people are wondering if buying a house right now will be a good investment or not.
Do you want to know one way to figure out whether you should be renting or buying?
Check out this article called “Rent or Buy? The Math Is Changing” by Neil Irwin and learn how the numbers have changed…
*THEN make sure to click the second link and use the calculator and test out your numbers yourself!
“Billy Gasparino and Jenna Dillon-Gasparino were savvy enough to wait out the housing boom of a decade ago as renters. Not until 2010, well into the bust, did they buy a house in the Venice neighborhood of Los Angeles, less than a mile from the beach, for $810,000.
“Only four years later, the couple see new signs of excess in the housing market and have decided to go back to renting. They are close to a deal to sell their house – for $1.35 million, a cool 67 percent gain.
“’It just seems like the housing market came back so strongly, so fast, that maybe there’s a little bit of a bubble there,’ said Mr. Gasparino, 37, an executive with the San Diego Padres.
“Their decision reflects a new reality in many of the nation’s largest metropolitan areas. An analysis by The New York Times finds that in the country’s most expensive places, including New York, the San Francisco Bay Area and Los Angeles, buying a home again looks like a perilous investment, based on the relationship between their prices and rents or incomes. And in a longer list of areas, including Boston, Miami and Washington, prices have risen enough that buying is no longer the bargain it looked to be a few years ago.”
===> Click here to use the really handy calculator that the NYTimes created to figure it out yourself…
Photo by Images_of_Money
Related article
- How Much It “Officially” Costs Your Family To Live In The Bay Area (baybusinesshelp.com)
