Buying Often Beats Renting
I hate to sound like a broken record but just as the article suggests for South Florida prices have been beaten up so much that it is better to own then rent. Remember, owning a home isn’t for everyone and make sure to take a look at inflation and home prices along with the price-to-rent ratios which in South Florida they are very close. Make sure to find out what you can afford in advance.
“In some once bubbly markets, prices have fallen so far that buying a home appears to be a bargain, based on a New York Times analysis of prices and rents in 54 metropolitan areas. In South Florida, Phoenix and Las Vegas, house prices — relative to rents — are as low as in places that never experienced a bubble, like Indianapolis and St. Louis.”