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To Buy or not to Buy; CoreLogic tries to Answer
Friday, November 6, 2015
When the question is asked whether or not it is a good time
to buy a house the flip side is always "or is it better to rent?" The answer usually has both a head/heart and a
financial component with timing thrown in for good measure. The head/heart thing can't be measured and can
cut in favor of either renting or buying and might do both in a matter of hours.
But in a recent article in CoreLogic's Insights
blog, economist Shu Chen lays out a way of quantifying the other two.
Chen says the decision to rent or buy, is always major and
it is now confronting millennials who are establishing households or may be
moving to a different city to start a job.
No one wants to buy when the market is topping out and right now, seven
years after the bust, home prices, especially those in the lower cost tier,
have returned to pre-crash levels.
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