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Rent. While "Economic data has been fairly strong of late" and mortgage rates have "rebounded," we still say rent. There is only one exception, and it is one that we have culled from many conversations during the last few weeks. If you are looking to find an apartment that will serve all your needs and desires for the next 20 years, go ahead and buy whatever you can afford.

Over time, the high price will make less of a difference than the low interest rate. However, if you are still in transition and are looking to buy for 4-5 years or as an investment, rent and look around for the deals when they come. (via Bankrate) MGR