Cities like Las Vegas and Miami boast killer buying opportunities, but you’re better off renting in New York and Seattle, according to the quarterly Rent vs. Buy index. Home prices dropped so severely in many markets that it completely changed the equation of whether to rent or buy in many cities. 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. Below 15? Start looking for homes. Click here to read the entire article.