Is now a good time to rent your house instead of owning?

Irvine Housing Blog is a great blog I read because although Irvine is a small postage-stamp community in California, it is the home of some of the largest mortgage companies and of the worst bubble property values as well.

There was a post on renting versus owning the other day:

The chart above is the inverse of the previous chart showing the relationship between rent and price. The over-valuation in the market in 2000 becomes even more apparent. The price bubbles of the late 70s and late 80s also stand out. Our most recent bubble is hard to miss and even harder to deny.

The bottom line is that renting is in much of the country a far better deal than owning. That means that rents are destined to rise, or property values to fall, or both, if the usual “normal” relationship between rents and ownership resumes.

And if you want to get out from under a rental property (or more than one) by doing a short sale, then visit my informative Mortgage Relief Formula blog and learn about how to do short sales so the lender says “yes”, how to sell any house in nine days and even how to buy with no money and no credit.