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Old 03-23-2012, 01:30 PM
 
Location: South Korea
5,242 posts, read 13,081,480 times
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Still better to rent than buy, unless you’re looking in the East Bay | On The Block | an SFGate.com blog

This comes up here now and then so I figured I'd post it.

Quote:
Real estate site Trulia just recently released their Winter 2012 Rent vs Buy Index, where they looked at prices on rentals and comparable homes for sale across 100 metro areas. Prices have dipped so low that it’s more affordable to buy vs. rent in 98 of those metros. The only 2 where that wasn’t the case was Honolulu – where it made the least sense to buy – and the Bay Area.


As we have written, the real estate market in parts of San Francisco and down in Silicon Valley seem to be booming – multiple offers, all cash, above asking. According to Trulia, home prices in San Francisco and its southern neighbors are still pricey, relative to renting. But, if you’re willing to head east, the rent vs. buy ratio drops in Contra Costa and Alameda counties.
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Old 03-24-2012, 11:21 AM
 
15,639 posts, read 26,267,127 times
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Originally Posted by mayorhaggar View Post
Know a guy who bought a condo -- 150K, put down 60K and kept back some for the remodel. Rate he got was 3.88 and his payment is 425 bucks a month.

Can't rent a 1200 square foot place in a nice building for that.
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Old 03-26-2012, 02:53 PM
 
484 posts, read 822,583 times
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It really depends on how long you're going to hold it ... if you plan to live the rest of your life in SF it will always be cheaper to buy, unless housing values are in permanent decline. If, on the other hand, you plan to sell within a shortish period of time (5 years or so), renting is cheaper.
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