(SAN FRANCISCO CHRONICLE) — Purchasing a home is cheaper than renting in 98 out of the 100 largest U.S. metropolitan areas, a survey by real estate site Trulia showed.
That's up from 97 regions last year, after New York, which encompasses the suburbs as well as the city's five boroughs, flipped positions in favor of buyers. Renting is the better deal in San Francisco and Honolulu, where a tight supply of homes pushed values higher, Trulia said.
"Buying is cheaper than renting almost everywhere because prices have fallen so much since the housing bubble peaked," said Jed Kolko, chief economist with the San Francisco company.
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