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Showing posts from July, 2015

USELESS INFORMATION FROM ZILLOW

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Interesting maybe, but pretty much useless information from Zillow (reported by Inman News, Amy Swinderman, July 9, 2015): Zillow has developed a “Breakeven Horizon” analysis that shows “…when it comes to the real estate market, location isn't everything; so is timing.”  They have data and a nice chart that they say shows how long it takes a home buyer to be better off financially than if they had continued to rent.  
The chart compares first quarter 2015 with 4th quarter 2014, giving the national average and values for a list of major metropolitan markets in the US.  For example, the figures for Q1 2015 show that the national average to the breakeven point is 1.9 years, ranging from a low of 1.1 years in the Dallas-Ft Worth area to 4.5 years in Washington, DC.
OK, so what does it mean? Suppose you are a renter in New York and you check out this “analysis” and see the big difference between where you are and DFW… so what do you do, start packing to move to the DFW area and buy there…