The cost of owning a home versus renting is swinging back in favor of home ownership in some US areas, due to several months of declines in home values.
When the market peaked a few years back, home prices surged and the demand for rentals started to go up as the gap between owning and renting widened. After the housing market soured, apartment demand continued to grow as former homeowners became renters, allowing landlords to increase rents.
After 2 years of rapid home-price declines, the relationship between the cost of rent vs. after tax mortgage payments it shifting toward ownership in number of US cities.
This , coupled with the $8,000 first time buyer tax credit could help us market out dramatically. Please get the word out to your clients and on your blog!