Many are skeptical of "Realtor speak" that seems to always be telling people, "now is the time to buy." However, it now appears the powers-that-be at Forbes magazine believe the Bay Area is squarely in the midst of a great time to buy.
Basing their research on the "premium to buy" (the difference per month on what you'd spend on renting vs buying), it's far narrower today than it's been in the last 15 years. Couple this report with economists predicting a hike in prices in the next five years and the low interest rates that are still holding fast, and this could be one of the best times to buy in the Bay Area.
Forbes ranked 10 cities where it's the time to go from renting to buying. The Bay Area (consisting of San Francisco, Oakland and Fremont) joins Portland, Minneapolis, Boston, Denver and Washington D.C. as cities that are more affordable than they have been in years.
Don't get us wrong, San Francisco first-time home buyers are still going to deal with a steep price tag, but for those determined to call San Francisco home, now could be the time to pull the trigger.
