When to rent and when to buy

To rent or buy your home? That was the question on today’s CNBC show, “The Call.” The Real Deal Founder Amir Korangy went head-to-head with Zillow COO Spencer Rascoff, who argued that now is a good time to buy a home, even though he predicts that the market won’t bottom out until next year. “Inventory levels are way up — there are more homes for buyers to choose from — and prices are way down,” Rascoff said. But Korangy sees things differently, pointing out that a down market is an opportunity to be circumspect about your home buying decisions. “I think it’s a great time to scout the properties you’re really interested in,” Korangy said. “They say homeownership is the American dream, but I think that’s as false a claim as Santa Claus … it’s not for everybody.”