Rent vs. Buy? Zillow research finds it will take just 2.8 years for a renter in Chicago to reach the “break-even horizon – how many years of homeownership it would take before owning a home becomes more financially advantageous than renting the same home.” Nationwide, it’s 3 years. Read more in the Chicago Tribune.
In other news:
U.S. regulators extend deadline for homeowners seeking foreclosure review. (Chicago Tribune)
Now is the right time to buy a house (Wall Street Journal)
Mortgage rates rise, ending record streak (CNNMoney)