Forbes ~ Portland Oregon is one of the U.S. cities where renters should buy now!

By Francesca Levy of Forbes ~
The gap between what you'd spend on rent and paying a mortgage is shrinking in these metro areas.

The U.S. government has pushed hard to make homeowners out of the one-third of Americans who still rent their homes. It introduced and later extended a tax credit for first-time homebuyers, and has kept federal interest rates at their lowest levels since the 1940s.

Market conditions are such that now is a particularly good time for some renters to take the hint.
In Portland, Ore., San Francisco, Minneapolis and Washington, D.C., the premium to buy - the spread between what you'd spend on renting and what you'd pay each month for a mortgage - is far narrower now than its 15-year average. And economists predict a significant home-price hike in five years. So upgrading will cost much less than usual, and homebuyers are likely to get a good return on their investment.

Note that buying isn't necessarily cheaper than renting in these metro areas. In fact, it often remains a more expensive proposition. But for those determined to own, that investment is a better one now than it normally is.