Consider renting, not buying, on Long Island?
That’s the recommendation of a New York Times’ economics blog, citing the rent ratio: the price of a typical home divided by the annual cost of renting that home.
The latest figure for Long Island is 21.4 — just above 20, the point at which it often makes more financial sense to rent. The blog posting is based on data from Mark Zandi of Moody’s Analytic.
Read more of Inside Long Island Business