Trulia: The 2011 Great Debate — Rent vs. Buy

  • Posted by a hidden member.
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    Aug 18, 2011 11:58 AM GMT
    Interesting analysis.
    http://insights.truliablog.com/vis/rent-vs-buy-q3/

    Trulia looked at housing prices, foreclosure activity and job opportunities, and found that it’s cheaper to buy a home than to rent in 74% of America’s 50 largest cities — how’s it looking where you live?
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    Aug 18, 2011 12:47 PM GMT
    I think it's probably better to buy here in Dallas rather than rent, although I haven't researched this.

    The problem is: if one is looking at this from a gay point of view where most of us are single, it think the prices are still too high in general. If the statistics are correct that $45,000 is the median income range, that means that a single person could qualify for a $112,000 home??? Where could one find that? A one bedroom condo perhaps. With HOA fees that's still a bit high. How many single people don't even make $45,000. It still takes 2 incomes to realistically afford to buy.

    That's the problem with the US economy -- you need 2 incomes.
  • dannyboy1101

    Posts: 977

    Aug 18, 2011 2:37 PM GMT
    $1450-1950 to rent in Chicago? Yeah for a 2-3 bedroom or larger. I agree with the above that as a single in Chicago, it is so much smarter to rent.