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CNN Proclaims: Rent!

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When it comes to Los Angeles, you should rent, claims CNN. Explainer: "To determine whether it makes more sound financial sense to rent or buy, economists generally use a rule of thumb: They divide the purchase price of a home by the annual rent of a similar property. Anything over a 15, and you should rent because it will cost you less over a period of time." LA's price-to-rent ratio: 20. Median home price is $489,700; rent is $24,900. Sadly, the story has no additional information like how much might it cost to live on a barge, or could you save money by building your in-laws a treehouse, or what other alternative ways of living and saving money exist? CNN]