As you may know, the sharp decline in housing prices has cooincided with an uptick in rental rates all over the country, and particularly in northern California. Why? Simple: homeowners exiting the market due to foreclosure and economic worries are renting rather than buying homes. However, for many who have always remained on the sidelines, the decline in home prices combined with upward pressure on rents is describing a tipping point and it could be more economical for the first time in a long time to just buy instead of continuing to rent.
Paragon has worked with Residential Pacific Mortgage to create a detailed analysis of a $650k home purchase juxtaposed against renting for $2650 a month. I believe this sheds a lot of light. You can take a look at it by clicking here. As always, I welcome your questions and am happy to sit down and discuss your individual sitaution any time!