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Housing prices to fall 15% in NY metro area...is it better to rent now?

Started by JB32
about 16 years ago
Posts: 59
Member since: Aug 2009
Discussion about
As a first time home buyer, my research is making me nervous! Rent vs Buy seems to favor renting right now. Thought it was a good time to buy a condo now and sell it 7 yrs down the line...but may be renting makes more sense? http://therealdeal.com/newyork/articles/new-york-area-home-prices-still-to-plunge-according-to-mark-zandi-and-moody-s-economy-com ... [more]
Response by JB32
about 16 years ago
Posts: 59
Member since: Aug 2009

and more links..

http://money.cnn.com/magazines/moneymag/moneymag_realestate/2009/states.html

http://www.housingbubblebust.com/OFHEO/Major/NewYork.html

http://www.reuters.com/article/idUSN2240494520090423

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Response by manhattanfox
about 16 years ago
Posts: 1275
Member since: Sep 2007

"rent vs buy seems to favor renting right now????" Unclear.

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Response by sidelinesitter
about 16 years ago
Posts: 1596
Member since: Mar 2009

"Unclear" Serious? Wow.

You should spend some time discussing rent vs. buy with stevejhx and Rhino86; they'll get you sorted out. When they're done, you'll wish you'd chosen waterboarding instead, although if it ends up persuading you not to buy you'll thank them later.

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Response by columbiacomm1
about 16 years ago
Posts: 59
Member since: Jan 2010

will Rhino86 punch you during that discussion and shout epithets at you? Because the waterboarding might be actually be better.

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