> In NYC and San Francisco, price/rent ratios can reach absurd numbers: 40 to 50 years. Why? Emotional bullshit, a sense of prestige, et cetera. Buying only makes sense if you expect apocalyptic increases of housing prices (see: Tokyo, especially in the late '80s).
Yeah, that's certainly true. I'd call those outliers in the same way that I'd call places going through huge economic crashes where you can pick up a house for pennies outliers.
In typical markets, and even ones close to those outliers, over the long run (30 years), buying an equivalent property nearly always makes more sense.
Yeah, that's certainly true. I'd call those outliers in the same way that I'd call places going through huge economic crashes where you can pick up a house for pennies outliers.
In typical markets, and even ones close to those outliers, over the long run (30 years), buying an equivalent property nearly always makes more sense.