A recent story in The New York Times outlined the mathematics that people should consider when they weigh a decision to rent an apartment or buy a house. It's a question with special urgency, as a federal tax credit for home buyers expires on April 30.
A graphic that accompanied the Times story described the conditions of the housing market in a multitude of U.S. cities -- but not Kansas City. On Monday, the Times' Economix blog produced the data for KC and eight other metropolitan areas neglected in the original piece.
The numbers indicate that renters contemplating a purchase should pull the trigger.
The "rent ratio" -- the cost of a typical home, divided by the annual
rent for same -- was 15.1 at the end of 2009. A number below 20 favors a
decision to buy a house.
Be warned: Cutting the grass sucks no
less than it did when you were 14.
Image via Flickr:
Shirleylee136; home page image: tylerthompson1984
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