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A comment on The High Cost of a Home Is Turning American Millennials into the New Serfs. Parent comment
It depends on the market. Price to rent ratios can vary a ton.[1] The link is from 2016, but the extremes are:
San Francisco 48x (housing price is 48x monthly rent)
Detroit 6.5x
The neutral rent to price ratio is ~15. If it's higher than that, it's better to rent. If it's lower, it's better to buy.
[1]https://smartasset.com/mortgage/price-to-rent-ratio-in-us-ci...
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It depends on the market. Price to rent ratios can vary a ton.[1] The link is from 2016, but the extremes are:
San Francisco 48x (housing price is 48x monthly rent)
Detroit 6.5x
The neutral rent to price ratio is ~15. If it's higher than that, it's better to rent. If it's lower, it's better to buy.
[1]https://smartasset.com/mortgage/price-to-rent-ratio-in-us-ci...