« HGTV looking for first-time home sellers | Main | Are you reading this from a homeless shelter? »

June 5, 2010

A thumbs-up (sort of) to buying

Three-quarters of Americans polled for the National Apartment Association said renting is preferable to owning in the current market. But another large group of Americans -- close to two-thirds polled by Fannie Mae -- of are the opinion that now is a good time to buy.

So I asked you to break the deadlock.

Is now a better time to buy or rent? Or does neither have a clear advantage these days?

Forty-six percent of you say it's a better time to buy, the most popular answer -- though a plurality rather than an absolute majority.

Thirty-nine percent say it's a better time to rent.

And the rest -- about 15 percent -- say "six of one, half dozen of another."

There's been a lot of discussion about prices, rents, property taxes, tax deductions and the like, but I'd be interested to hear about how the process of finding a place to buy or rent has gone for you in recent months. Difficult? Easy-peasy?

Did you intend to buy, get frustrated midway through and switch to renting -- or vice versa?

Posted by Jamie Smith Hopkins at 7:00 AM | | Comments (4)
Categories: Housing forecasts, Housing market experiences, Renting


My wife and I recently decided it was time to buy, and now we're under contract for a property in Baltimore county. The strength/weakness of the housing market was far less of a concern than whether we had enough money for a downpayment and closing costs.

We had a large number of properties to choose from, most of which had been on the market for months, and zero competition from other buyers. We did encounter difficulties with sellers who bought at the height of the bubble and had placed unrealistically high prices on their homes. We wrote our contract so that the bank appraisal would be completed before any inspections, etc., which helped bring the sellers back to reality.

Thanks for sharing your experience, Chris. Glad it was a good one.

Don't worry folks, we have about 8 more years for the foreclosure mess to clear through the market. If you don't buy today, you will get a better deal tomorrow. Just keep waiting...

For a crime eroded place totally bereft of good public schools, Baltimore is doing extremely well - if one considers high home prices positive.

Post a comment

All comments must be approved by the blog author. Name-calling aimed at other commenters is not welcome here. Please do not resubmit comments if they do not immediately appear. You are not required to use your full name when posting, but you should use a real e-mail address. Comments may be republished in print, but we will not publish your e-mail address. Our full Terms of Service are available here.

Verification (needed to reduce spam):

About Jamie Smith Hopkins
Jamie Smith Hopkins, a Baltimore Sun reporter since 1999, writes about the regional economy. Her reporting on the housing market has won national and local awards. Hopkins is a Columbia native and has lived in Maryland all her life, save for 10 months spent covering schools in Ames, Iowa.
She trained to become a wonk by spending large chunks of time as a geek and an insufferable know-it-all.
Baltimore Sun articles by Jamie

Most Recent Comments
Baltimore Sun coverage
Baltimore Sun Real Estate section
Archive: Dream Home
Dream Home takes readers into the houses of area residents who have found their ideal home.
Sign up for FREE business alerts
Get free Sun alerts sent to your mobile phone.*
Get free Baltimore Sun mobile alerts
Sign up for Business text alerts

Returning user? Update preferences.
Sign up for more Sun text alerts
*Standard message and data rates apply. Click here for Frequently Asked Questions.
  • Sign up for the At Home newsletter
The home and garden newsletter includes design tips and trends, gardening coverage, ideas for DIY projects and more.
See a sample | Sign up

Charm City Current
Stay connected