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-- in recent data says it is a buyer's market went shopping for a new home but not all cities provide.
Maybe the best deal in some cases actually pays to rent and with more on that personal finance expert -- Gibbons joined gam winning how to thank you -- -- here.
So where's the best place to buy well you -- -- Hillary Anderson -- it to -- take a look at the data right to look at all these different areas across the country in and found in most places it is best actually by the -- all the factors associated -- all the costs issue a bit just that the numbers for inflation.
At the top the list where you can break even in less than two years a lot of Florida markets.
-- got Miami for a lot of help -- Phoenix prices are down 54%.
From the peaks -- and that's definitely good place tonight.
Las Vegas and Detroit so in these areas it is if you're renting in these areas your long term -- you could be making a mistake making good time to.
Trade that in and gets -- -- -- break and breakeven under two years in this place is what about three years three years a -- -- crisis -- -- well we've got a lot of different areas in the California market we've got Riverside California we've got Dallas Fort Worth.
Pittsburgh pockets of Ohio Cincinnati Columbus Cleveland.
-- kind of goes on on -- -- in a market like Minneapolis for example.
The average monthly mortgage payment on -- home but now -- -- 122 dollars less than the average run of 965.
A month so in this area to values are down like 30% so again if you're renting a long term -- these areas.
-- under -- years under five years here we've got.
Philadelphia for example about Sacramento area we've got DC we've got Portland San Diego Seattle the list -- also quite substantial which is unusual because anything.
Yeah -- you boys -- I -- to determine how long you're going to live somewhere that's the number one -- how long you're going to live in the home but the -- analysis actually found in most markets the breakeven point is under three years is just phenomenal and that's because of portability factor because.
Interest rates alone because rents are rising their 5% Fisher and a 20% last three but there are still some places where it is better to rent a car being one of America's still -- custody no matter -- is like and yes New York is one of a look at the breakeven points that's five -- San Francisco is even higher than that.
Pockets around San Francisco Mill Valley Menlo Park also much higher than that coming in -- about nine years never fourteen and then if you look at a place like San Jose California.
-- just crazy right home values are holding nicely because you got the tech sector very bad job growth there this is not a place for.
-- looking for deals are to just look at all your factors involved when you're renting or buying and take dollars and consideration time horizon went up and listen to your advice severe I had all right that's OK okay apparently thank -- -- it.
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