San Diego Housing Market News and Analysis
Renting Money vs. Renting Homes
Submitted by Rich Toscano on May 27, 2006 - 5:02pm
San Diego renters often express frustration at having missed the housing boom of a lifetime and fear that they will now never be able to purchase a home.
Well, I think they ought to buck up. Relatively speaking, they are getting an amazing deal.
Even as San Diego home prices headed to the stratosphere these last few years, local rents grew at a fairly subdued pace. (This fact should, but apparently does not, cause people to doubt the fundamental underpinnings of the housing boom -- but I digress!) The end result is that it costs quite a bit more to buy a given home than to rent that same home.
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