Monthly payments on a house are now cheaper than monthly rents on a similar house in most of North San Diego and Southwest Riverside counties, according to an analysis of county-supplied and Realtor data by the North County Times.
"I don't think this has ever happened before," said G.U. Krueger, a principal economist for HousingEcon.com.
"It's a function of the huge housing price collapse which has left a lot of people in the lurch."
Or, as Carlsbad real estate agent Tyson Lund put it: "This is crazy."
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