Wall Street

Where is Rent Cheapest vs. Buying a New Home?

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The Street

By Dan Weil The median U.S. rental price hit a record high (for the 16th consecutive month) of $1,876 in June. There’s plenty of evidence that home prices are out of control. For example, the median existing-home sales price hit $416,000 in June, jumping 13.4% from a year earlier, according to the National Association of Realtors. That represents 124 straight months of year-over-year increases, the longest streak on record. And the S&P CoreLogic Case-Shiller Home Price Index registered a whopping 20.4% gain in the 12 months through April. So it’s no surprise that in 38 of the 50 largest US met…

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