Properties
Should you rent or buy?
(CNNMoney.com) — Is it better to buy or rent in Omaha, Neb.?
If you guessed buy, you’d be wrong. According to the new Trulia Rent vs. Buy index, it makes more fiscal sense to rent in this farm city due to the huge gap between rental and purchase prices.
Until recently, the perennial real estate question of whether to rent or buy was dead. During the boom years, the question was largely irrelevant as people rushed to pay ever increasing prices for already expensive real estate. But now that national home prices have slid substantially and potential buyers are being more cautious, the debate has been reinvigorated.
Many people hunting for a home these days are considering both alternatives, according to Tara-Nicholle Nelson, a spokeswoman for Trulia, the real estate website. “We did a survey of site visitors and found that 30% of them were thinking either of buying or renting,” she said.
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