Another Reason To Buy In The Boston Area

What, declining prices and low interest rates are not good enough reasons to buy a home?

Need another reason to break up with the landlord and buy your own place?

Boston Area rents increased 4.2 percent over the past year, The Boston Globe reported October 29, 2008. It was the largest increase in rents in seven years.

"Average monthly rent in the metropolitan area increased to $1,659 in the third quarter, from $1,592 a year earlier, according to a report from Reis Inc., a New York research firm that tracks rents for apartments in buildings with at least 40 units. Boston's increase exceeded the national rise of 3.5 percent, Reis said."

The report blames foreclosures with putting more people in the rental market and increasing demand.

Ginnie Mae has a buy v. rent calculator to help consumers decide whether to buy or rent.

Read The Boston Globe Article