Top 10 U.S. Cities Where It's Smarter To Buy
For people who want to own a home, the premium to buy—the spread between what they’d spend to rent and what they’d pay for a mortgage—is much lower than the 15-year average in many cities.
To determine what cities are smart buys, Forbes magazine computed the premium and also identified locales where economists predict home prices will go up the most over the next five years.
Here are the top 10 cities the magazine chose as the best places to buy right now.
- Boston-Cambridge-Quincy, Mass.
- Charlotte-Gastonia-Concord, N.C.-S.C.
- Chicago-Naperville-Joliet, Ill.-Ind.-Wis.
- Cincinnati-Middletown, Ohio-Ky.-Ind.
- Denver-Aurora-Broomfield, Colo
- Minneapolis-St. Paul-Bloomington, Minn.-Wis.
- Philadelphia-Camden-Wilmington, Pa.-N.J.-Del.-Md.
- Portland-Vancouver-Beaverton, Ore.-Wash.
- San Francisco-Oakland-Fremont, Calif.
- Washington-Arlington-Alexandria, D.C.-Va.-Md.-W.V.
Source: Forbes, Francesca Levy (01/21/2010)
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Hi Jackie:
That's an interesting list of Cities.
I know that Philly is mostly bank-owned properties at this point.
Hi Toula, When I saw this article, I just had to hijack it, lol. I felt others would find it interesting. I had no idea about Philly. That is sad!
Hey Jackie! THANK YOU!! It was interesting to see these cities and I'm sure the people that live in them are thrilled....I somehow didn't think lovely Long Island would make the list :(
Hi Carole, I wasn't surprised that Long Island wasn't on the list either.
Hi, Thanks for the list. I am going to reblog it since I work in one of the markets on the list. Thanks for bringing this to my attention.
Hi Dr. Stacey-Ann! Thank you for the re-blog and you are welcome! Interesting list.