Forbes magazine just profiled 10 metro areas where it makes sense to buy, not more than ever. Below is a blurb from the article, and a link to the full text. In general, the gap between renting and buying is at a 15-year low, and that coupled with low rates, the homebuyer tax credit, and prices expected to go higher all equal a compelling opportunity for renters. If you want to get together and discuss options or have questions, askSarita.com! ;)
In Portland, San Francisco, Minneapolis and Washington, D.C., the premium to buy--the spread between what you'd spend on renting and what you'd pay each month for a mortgage--is far narrower now than its 15-year average. And economists predict a significant home-price hike in five years. So upgrading will cost much less than usual, and home buyers are likely to get a good return on their investment.
Note that buying isn't necessarily cheaper than renting in these metro areas. In fact, it often remains a more expensive proposition. But for those determined to own, that investment is a better one now than it normally is.
Full link to article: http://www.forbes.com/2010/01/21/buying-versus-renting-lifestyle-real-estate-homes.html?partner=email