Why rent when you can buy? With the soaring costs of rent, it makes more financial sense to purchase a home, rather than rent one. 

CNN Money has a very interesting article posted that discusses the rising costs of rentals and how buying a home is actually a cheaper alternative.

According the the article, “In 98 of the top 100 housing markets, buying a home is more affordable than renting, according to the online real estate company Trulia. Only Honolulu and San Francisco buck the trend.

There are several reasons. Home prices are falling. Mortgage interest rates are at historically low levels. And rents are on the rise.”