If you think buying a home can be tough, try renting in the Bay Area. Double-digit cost increases, not enough inventory, bidding wars, and sky-high rents have contributed to make us the least affordable rental market in the country. And just wait until the Facebook IPO, when newly minted millionaires (and new Gen Y hires) will all need a place to live.
Believe it or not, buying a home in the Bay Area can beat renting – mortgage rates are still at rock-bottom and housing prices are not yet accelerating out of reach. Learn more at the Pacific Union blog: http://blog.pacunion.com/bay-area-rental-bubble-why-buying-might-be-better/
If you’d like to get out of the rental race or just want to talk about the housing market in general, give me a call or drop me a line.