USELESS INFORMATION FROM ZILLOW
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 4 th 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, st...