Playing Housing Market Arbitrage, or, The Substitution Effect to the Rescue I don’t know about anyone else, but I see an imminent collision — the good kind — between what’s happening in the rental market and the “For Sale” market. In the Twin Cities and nationally, rentals are scarce — and getting scarcer. In the...Read More
Renting vs. Buying: How Interchangeable? Carla Zeineh, 22, and her husband recently began shopping for a home in Irvine, Calif., and discovered that with a 5% mortgage rate, her monthly payment on a $350,000 two-bedroom home with 20% down could be less than the $1,800 month that they pay in rent on their two-bedroom condo....Read More