For the first time in years the cost to buy a home is rising faster than rents. From the Wall Street Journal:
Home-price appreciation is outpacing rent growth in all 23 of the metropolitan areas tracked by a national index produced by Florida Atlantic University and Florida International University faculty.
The housing market shifted sharply in favor of buyers and away from renters in major U.S. cities four years ago as home prices plummeted and rents began a steep climb. But that situation is now changing…
Home prices jumped 5.5% in September compared with a year earlier, according to S&P CoreLogic Case-Shiller U.S. National Home Price Index. Rents in the third quarter increased 3% compared with a year earlier, according to apartment-tracker Axiometrics Inc.