Prices

Rolling Over?

The median priced home in the U.S. hit $430,000 as opposed to median yearly rental at $24,000.  This is a Price to Rental Ratio at an elevated 17.92!  Anytime this ratio is above 15 buying is overvalued thus renting is the better deal.   

Many astute homeowners and investors over the past two years selling off of their properties.  However they will only do this if the gain at a minimum is over (after all expenses for selling) $500,000+!  At $700,000+ it is a no brainer!  Please note those who live in the east or west coast (and Canadian's) you will need to adjust your price to yearly income ratio as these figures are U.S. median prices and rents.