Posted November 17, 2009 by RentJungle
The WSJ put together a great Q&A on whether now is the right time to move from renting to buying. General gist is that renting is still a great deal due to the amount of incentives that are given today. From the article
"Generally, it doesn't make sense to buy unless you expect to remain in the house for at least four or five years, because the transaction costs -- including commissions for real estate agents and mortgage fees -- are heavy.
But now is clearly a good time to rent. Many landlords need tenants badly. The national apartment-vacancy rate in the third quarter was 7.8%, the highest in 23 years, according to Reis Inc., a New York research firm. So landlords are cutting rents and offering such sweeteners as free flat-screen televisions or several months of free rent to retain or attract tenants"