Roll Call: Latest News on Capitol Hill, Congress, Politics and Elections
October 25, 2014

Is It Better to Rent or Buy?

An analysis by the New York Times finds that “in the country’s most expensive places, including New York, the San Francisco Bay Area and Los Angeles, buying a home again looks like a perilous investment, based on the relationship between their prices and rents or incomes. And in a longer list of areas, including Boston, Miami and Washington, prices have risen enough that buying is no longer the bargain it looked to be a few years ago.”

“It is the latest change in a yo-yo pattern over the past decade. From 2004 to 2006, the math overwhelmingly favored renting rather than buying across most of the country, even as many Americans mistakenly decided that home prices could never fall. From 2009 to 2011, buying was an extraordinary deal in most of the country. Even the markets that have experienced huge price increases are far from the clear-cut bubble conditions of the mid-2000s, but they’re inching closer with every bidding war.”

“Since the start of 2011, prices have risen 33 percent in the San Francisco area, 30 percent in Miami, 24 percent in Los Angeles — and even more in some of the most desirable neighborhoods within those areas.”

The Times also created an online calculator that enables prospective buyers and renters to analyze their own decision.

  • YONATAN C

    THIS IS A VERY SAD AND SORRY SITUATION FOR OUR COUNTRY AND OUR PEOPLE . WE HAVE ELECTED PUBLIC OFFICIALS WHO GET IN OFFICE, AND ONCE IN OFFICE,FEEL THAT THEY NO LONGER NEED TO WORRY ABOUT WHAT THE PEOPLE WANT.THESE SELF-IMPORTANT, SELF-RIGHTEOUS, SELF-INDULGED, CAREER POLITICIANS, ANSWER ONLY TO THEIR PARTY AND SPECIAL INTEREST GROUPS. WE HAVE BEEN LET DOWN BY OUR ELECTED OFFICIALS, AND ARE NOW AT THE MERCY OF POLITICIANS WHO REALLY DON’T CARE ABOUT THE POOR AND UNEMPLOYED WHO ARE STRUGGLING AND SUFFERING WHILE THEY TAKE BREAK AFTER BREAK, AND VACATION, AFTER VACATION. THE REPUBLICANS ARE DIRECTLY RESPONSIBLE FOR THE MORE THAN 2.6 MILLION UNEMPLOYED FAMILIES WITHOUT BENEFITS, BECAUSE THEY CHOSE NOT TO HELP THEM. IT HAS BEEN FIVE MONTHS THAT THESE FAMILIES HAVE BEEN WITHOUT UNEMPLOYMENT BENEFITS, AND THEY HAVE WATCHED THE REPUBLICANS PLAY THEIR WAITING GAME, MAKING EVERY ATTEMPT TO STALL THE VOTING ON THE EXTENSION BILL, IN THE HOPES IT WILL GET TOO LATE TO VOTE FOR IT. THEY HAVE DELIBERATELY WASTED FIVE MONTHS, WHILE THESE FAMILIES FACED EVICTIONS, HOME FORECLOSURES, BANKRUPTCY, AND HOMELESSNESS. THESE POOR FAMILIES HAVE LOST EVERYTHING, WHILE WAITING FOR THE HELP THAT THEY DESERVED . THE REPUBLICANS HAVE NOW JUST HANDED OVER TO THE DEMOCRATS 2.6 MILLION NEW VOTES IN THE COMING ELECTION. THESE UNEMPLOYED FAMILIES WILL NOT FORGET THE BETRAYAL OF THE REPUBLICAN PARTY

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