Industry NewsMarkets & Economy

Foreclosures, job loss drive affordability

Cheaper to buy than to rent in 18 of 50 largest U.S. cities
Published on Oct 12, 2010

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by CareyBot

High foreclosure rates and widespread unemployment have made homes in some large cities more affordable, according to real estate search company Trulia.

The company released an index Friday comparing total housing and renting costs in September in the country's 50 largest cities. The index's price-to-rent ratio compares the average list price to the average rent on two-bedroom apartments, condos, townhomes and co-ops listed on Trulia.com.

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