Renting Cheaper Than Buying

In LA and a few other places.

Real estate experts say the high costs, without corresponding income growth, have depressed sales.

“The cost of financed homeownership is becoming dangerously disconnected with still-stagnant median incomes,” RealtyTrac Vice President Daren Blomquist said in a statement.

I've been noting this for awhile.  I still don't see why we didn't just let the bottom fall out of the housing market.  I imagine a lot of decent folks could have gotten a great deal on a first home and become the building block of a nice community.  Instead, the politicians decided to favor anyone who got themselves in over their heads.  I guess they didn't want breadlines, so they just snatched money from savers and handed it to the borrowers.