Cheaper to Own than Rent?

Buying a home makes more financial sense than renting in 72% of the largest US cities, says home search website Trulia, based on an index that compares the median sales price of homes with the median rent on two bedroom apartments, condos, & townhouses The top five metro areas favoring ownership are Miami, Las Vegas, Arlington TX, Mesa AZ & Phoenix. "Since the start of the 'Great Recession', many former home owners have flooded the rental market," says Trulia CEO Pete Flint. "Following the principles of supply & demand, renting has become relatively more expensive than buuing in most markets."