To Buy or Rent, That Is the Question

In today's struggling housing market, incredible opportunities have arisen. So how do you know if you should sit it out and just rent, or take advantage of lower prices and extremely low mortgage rates? According to an article in the May 25th issue of Forbes, you should consider buying vs. renting based on the income local homes generate instead of price forecasts. According to that analyses, Philadelphia's housing future looks a lot brighter than most other major cities. Out of nine major US cities, Philadelphia's cap rate is second highest and the price change over the past 2 years is the smallest.
So as I've been saying for a long time, if you can afford to buy today, this is the time!