CNNMoney: Seattle Top City To Buy, Buying Beats Renting

Two researchers recently studies 23 major US Cities and the prospect of buying vs. renting in each city.  Their report, as published on CNNMoney, shows that not only does buying beat renting in Seattle, but Seattle was the top-ranked city for the financial benefit of buying.

The study was based on the effects of saving nominal money upfront renting, and then investing it in some other outlet.  With the positive gains projected for the Seattle real estate market and housing in general, the long-term financial picture is significantly better for home buyers in our market.

"Of the 23 cities Beracha and Johnson looked at, Seattle is the best place to buy right now. When renters invest in portfolios that include stocks, the appreciation rate required over the next eight years there is 4.84% and the area's historical average is 6.06%."

http://money.cnn.com/2011/05/13/real_estate/rent_not_buy/

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Sam DeBord
Realtor® | Managing Broker
SeattleHome.com | Coldwell Banker Danforth
ph: 206-658-3225 | email: sam(at)SeattleHome.com
Member NWMLS, N.A.R., WA Realtors, Seattle-King County Realtors

Source: Individually compiled NWMLS data. The NWMLS did not compile or publish this information.

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