Scott has a post about how it’s still cheaper to buy than to rent — but the gap between the two is closing fast due to the heating-up housing market.
How hot has the market gotten? Bidding wars are now starting to break out all over eastern Massachusetts, not just within the “core” trendy markets of downtown Boston, Cambridge, Newton, Brookline, Arlington etc. It seems a lot of people are trying to find a home before that rent-buy gap and low interest rates completely disappear.
So there may be “bargains” out there when you look at cold, dry housing statistics like those presented by Trulia and others.
But the reality is that the “bargains” are hard to land with so much fierce competition for properties.