Right now we've got a renting bubble. At this point it is almost as irrational as the housing bubble of 2005. Just as scarfing up McMansions with no money down loans was irrational - now many potential buyers are obsessed with renting
There is yet another reason for first-time home buyers in Westchester NY to get off the fence. Rising rental rates. There has always been a yin/yang between buying vs renting a home. Now the pendulum is starting to swing in favor of buying.