A recent report indicated that from ninety-eighty of the top cities in the United States, it is now cheaper to own a house than to rent. The report attributes this phenomenon due to low interest rates and real estate prices that are at or pretty close to rock bottom levels.

The short sale inventory is continuing to apply downward pressure through pricing. It appears that anyone who knows that they will be remaining in their residence for 5 to 7 years should expedite their efforts to purchase a home.

If you should have any questions, or would like more information please comment this post, email, or call (718) 377-7798 to speak with Michael Reinhardt.

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