re: Houston - rent or buy

Rent can be found for cheaper. Not at brand new, updated complexes, but decent older properties in good parts of town can be found for much cheaper.

I live in a 1000 sq ft 2/2 apt in Greenway Plaza for <$1300/month. It's an older place that is certainly a little outdated, but for a couple in our mid-twenties who aren't completely crazy for the bar scene, it's an affordable option in a great area.

We thought about buying last year or within the next year or two, but it just doesn't seem worth it for us at this point. Our rent is well below the avg price for this size apt in a good area, and we would spend a good bit more on a house (mortgage, insurance, taxes, PMI, maintenance, etc.). It's possible that we'll be moving back to LA in a few years, and I'm a little bearish on the real estate here in Houston. As others have mentioned, I think its just too high right now and will flatten or drop slightly.

Just my thoughts.