Saturday, 18th of February 2012 at 12:45:11 PMYesterday, Chris Butterworth, another Realtor® with Thompson Realty, wrote a very good and analytical post on the Buy versus Rent question. Rather than rehash the post I encourage you to go and read it. The only points that I can add to his post is that one of the main driving points of the rent being so much higher than buying is because the sheer number of residents that are still out in exile. These are the former homeowners that either short sold, bankrupt or foreclosed and are not able to do anything for at least 2 years, so they are left with renting a home. This is causing a high demand on rentals right now and those that have a cash for a home can only afford the lower cost homes, which are the targets of the investors as well. We are in very unique and strange times right now.
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