Buying is Cheaper Than Renting in LA & SF

According to a recent study by C.A.R., "San Francisco and Los Angeles are two of the least affordable rental markets." DTLA is a prime example where a studio easily rents for $2000/mo and 1 bedrooms average around $2500/mo. If you're able to save for a $15% downpayment, then you might consider buying instead of renting because of the benefits of the year-over-year equity value increases and mortgage interest write-offs. Ask your accountant what makes sense and maybe 2015 will be the year to buy...