Last year, it made financial sense to rent instead of buy. This year, however, experts say it’s better to buy! Moody Analytics’ chief economist, Mark Zandi, says that by mid 2011 to the end of 2011, it will make more sense to buy in most parts of the country.
Why you ask? The prices of houses are expected to drop even more, making houses affordable. At the same time, rent prices are expected to continue to rise. The experts recommend buying when the price-rent ratio is below 15 and renting when it’s above 20.
Contact the Restivo Team to take advantage of this great time to buy!
