Study Shows Buying a Home Pays Off

Posted August 7th, 2012 | by The Update

(LA Times) Real estate website Zillow has a provocative data point for every renter thinking about buying these days: That move pays off after just three years on average nationwide.

The company, which lists for-sale and for-rent information on its site, has released a new analysis of what it calls the “break-even horizon,” comparing what it would cost to buy or rent the same home in a number of U.S. markets over time.

Zillow senior economist Svenja Gudell said the data should help homeowners get a rough and immediate sense of whether buying makes sense in a particular area in relation to their financial situation.

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