Here is another report from Trulia which was released this month taking the summer 2012 real estate market condition. This report is great for people who are in sidelines waiting for the market to turn around and still thinking whether to Rent or Buy. The cool thing about this report and infographics associated is that it helps the consumer to determine whether they can buy or rent taking into account their location, income tax bracket, how long they will stay in the home and possible mortgage rate they expect depending on their credit situation.

As per Trulia’s analysis and calculation methodology used in this report, below are few snapshot of results.

Houston still holds the strong BUY signal with 51% for the assumption considered.







You can also try your hands on playing with different parameters as per your situation and find out whether it is right decision for you to buy or rent using the infographics.

It may seem the buying house is cheap in many parts of the country except few metros but the question arises why not many people buying them. Here is the plain blank truth from the chief economist who put together an article analyzing the report.

Home sales are still less than halfway back to normal, and the homeownership rate continues to fall. The big obstacle holding back renters who want to buy is the down payment – even more than getting a mortgage. And keep in mind, in the metros where the cost of buying is less than half of what it would cost to rent over the long term, it still takes years to save enough for a down payment. It may be 56% cheaper to buy than to rent in Denver, for instance, but it takes more than 8 years to save enough for a down payment there. And high unemployment during the recession made it even harder than usual for people to save for a down payment. On top of that, people who lost their homes or took on lots of debt might not qualify for a mortgage. Bottom Line: Buying may beat renting in every major metro by a wide margin, saving consumers thousands of dollars a year, but buying still remains out of reach for many would-be homeowners.

I am in total agreement with him. People don’t have money to buy houses and takes more time to save for their down payment to buy houses. In the after recession economic condition we are in currently, more than 40 million people are out of work so it is going to take lot of effort to get going on housing only if the economic starts move in stead fast pace again. Let’s hope for the best in 2013.

People who are employed and saved down payment, check out and see whether you live in places which is better to buy than Rent. Start thinking about getting your house since it’s damn good time with low interest rates which won’t linger for long. Especially Houstonians who are better position compared to other metros on employment perspective, be aware home prices are going up all around the city and don’t wait any more…

About Vijaianand Thirnageswaram

I am a Proud Realtor of Texas, trying to guide and help clients to find their dream home and educate them to buy them for right price. I am also a Candidate for CFP who has more financial knowledge which allows me share and educate clients in any financial decision making process.

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