Buying vs. renting

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Hi welcome back it's a break even -- sounds like -- movie not the point when owning a home becomes financially more advantageous than it would be to rent that very -- Home and a new study shows that in some major metropolitan areas buying a house is a better deal than renting in some cases.

In just under two years believe or not joining me now is personal functions expert here again and you know -- -- -- your -- flat.

She's a girl and you morning and now finding out there right behavior break down these numbers forces it better to -- -- a buyer how to you know.

-- that that -- instill a random numbers look at all these different markets 200 metro -- number 8000 cities.

To figure out what the break even point would be whether it's more financially advantageous to buyer to rent let's all costs associated with -- friendly and buying and found that in most major markets.

Buying is a better deal.

And you can raking in Boston terriers so in two years this is tuchman undertook the -- got there -- that's even better so even under two years look at some of these markets Miami.

Who -- thought like this with all the downturn in Miami -- a -- aren't a lot of the Florida markets came in in this under two year breakeven point Miami Fort Lauderdale Tampa Orlando.

These are areas of course many of them where prices shot up and then came crashing now also on the list under two years this Phoenix for example -- -- make sense.

Phoenix the prices are down 54% from while I got a glut of inventory to quite a bit of stuff to win a lot of investors are flying in the Phoenix coming from Canada and other places buying Las Vegas is all -- -- that no surprise there as you mentioned and then you've got to -- in energy -- break even so.

But you have to have 20% down now -- that's the thing I mean that would be the only reason maybe not people aren't buying.

Is because they can't do the down payment they've got -- -- an usher at the job situation employment situation this body whatever the case may be written.

-- -- under three years now because under three years breakeven points a little bit different but I think the obvious ones were in the under two year mark -- down right even more interesting to me Pittsburgh Riverside Dallas some other cities in here.

A lot of the Ohio markets Cleveland Cincinnati Columbus.

Georges in there at Dallas.

You've got Denver doesn't Riverside -- is out of California for California -- -- you gotta gotta.

Yeah right.

Podcaster Chicago I don't know if you guys are able I was surprised any -- -- Minneapolis.

I think his -- Minneapolis okay.

The average monthly mortgage payment is now 122.

Dollars less than the average run of 965 dollars just an astounding number that's an average nationally -- invest in that fatigue in that category serious action for renters Minneapolis.

You know Indian values they're down 30% from the peak so message being and if you're in some buying.

What about the extent of their residents here renters had the upper hand here tells about these yes it is a big if if these expenses -- here so.

Have New York for example the breakeven point is over five years this -- the city for -- renters and buyers who got San Francisco.

The break even point is -- nearly six years in the surrounding communities Menlo Park Mill Valley substantially hard and that nine in fourteen years respectively advertised.

A little bit and then you've got San Jose.

I mean that's just a crazy market you got the tech sector job growth there that's keeping those values propped up.

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Buying vs. renting

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