In their current edition of the Home Price Expectation Survey released last week, Pulsenomics asked this question of the 100+ economists, real estate experts and investment & market strategists they surveyed:
People often ask whether or not now is a good time to buy a home. No one ever asks when a good time to rent is. However, we want to make certain that everyone understands that today is NOT a good time to rent.
Some Highlights:
The percentage of income needed to afford a median priced home is almost half the percentage of income needed to afford median rent.
Buying costs are significantly less than renting costs.
The percentage of income needed to afford a...