The Real Deal Miami

When to rent and when to buy

August 21, 2009 01:16PM



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.”