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I'm certainly no expert on this, but my perception is that you can get a better value right now if you buy. The rental market appears to be saturated (and thus prices are being driven up) because potential buyers want to wait and see what the buying market does. If you have the flexibility to buy, I think you can definitely get more house for your money per month than if you rent.
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e30 M3 | e90 M3 | e60 M5 (retired) | e30 325is (retired) | e36 M3/4 (retired) | e90 335i (retired) | '87 Buick Grand National (retired)
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