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Rent vs. Buy – What should you do?
Trulia has launched a great tool helping consumers decide whether the time is right to buy or rent in their local market. It takes the 50 largest cities (ranked by population size) and has calculated whether it is financially wise to buy right now, or hold off for the time being and rent.Of course, it’s obvious what the citizens of the Texaplex should be doing right now… BUY BUY BUY! The Texaplex has become synonymous with economic and lifestyle prosperity over the past several years and shows no signs of slowing down.
But what about those RED and YELLOW cities… How would you feel if you recently purchased property in New York City, LA, or San Francisco and then read this a few weeks later.
I encourage you to head over to Trulia’s Tool and check out how your local market stacks up against the rest of the country. After you look at the tool, I then ask that you watch this very informative video about the height of rent these days: