HousingPANIC Quote of the Day

"Prices would have to come down from peak to trough about 40 percent to be back in line with income the way they were in the late '90s"

- Christopher Thornberg, February 2008

Let's do the math for homedebtors and would-be buyers. How much cheaper is it to rent than own in your town

Take a typical home or condo and do the math. Rent is pretty simple - what's the payment. "Ownership" though don't forget to add in insurance, taxes, association fees, upkeep and a 15% vacancy buffer.

Folks, we won't see an end to this housing crash until it's cheaper to "buy" than rent. Let's see just how far off we are today