Time magazine had a cute article about where it’s cheaper to rent than buy. I was a bit shocked that New York City was on that list, but I guess home prices there are even more expensive than NYC’s high rent. In Miami, it’s cheaper to buy than rent and I’m not surprised. The foreclosures here are a way of life. There are so many condos to be had for cheapie, too.
How is it where you live? Is it cheaper to rent or buy?