One of the age old questions in real estate is whether it is better to rent or own? With the answer to that question is real estate expert Nick Krautter from Keller Williams real estate and sellpdx.com.
Q. So nationally what is the score of rent vs. own?
A. With affordability at all time highs the scales have tipped and it is now better to own than rent in 75% of major US cities.
Q. What about Portland?
A. According to Zillow in 3.5 years you high a break even point in Portland and after that owning is a better financial deal. I feel that might be an over statement since I’ve personally helped so many people buy homes that are dollar for dollar cheaper than the places they were renting. That’s before taking the tax advantage into account!