From the Boston Globe:
For Americans debating whether to buy or rent their homes, the scales are tipping toward ownership. Because of the slide in home prices, low interest rates, and tax incentives, renters are realizing they could handle a mortgage for a just little more money.
An Associated Press analysis of 45 metro areas finds the gap between the monthly mortgage payment on a median-priced home and the median rent has shrunk from $777 a month to just $221 in the past three years.
It could mean a quicker end to the housing-market doldrums, as renters buy up unsold homes languishing on the market.
Read the full story – Boston Globe