This depends on how "mobile" the actual buyer/tenant is.
Some people stay in the same area all their lives, while others change contries, states & cities
every 5 years.
If a person is established financially, with reserve funds, savings etc. - currently, buying
seems like a good option (great interest rates, mortgage interest and property taxes deductions).
Plus, the prices/values are still low and will be increasing in the future.
Good time to get in on the homeownership train!
However, if homebuying is a stretch, and there are no reserves, and no money for maintenance and upkeep of the property - renting is the only good option, mobile or not.
If a prospective buyer/tenant career is the one that demands relocations,
and staying in one area will take only a year or two, then renting is probably better
(not enough home value to accumulate there to sell profitably within first 2 years of
ownership). If longer than 2 years residence - then, buying could be better, subject
to local market value growth.
Hope this helps,
Beachfront Realty, Inc.
I understand that purchasing real estate is an investment vehicle...I rent those out.
This is my Home.