Should I rent or buy in a sellers market?

[Walikirito]

A colleague of mine is looking to come to the area in which i live which is basically a sellers market and was asking if renting is a good option for him in such a market or is it better if he buys a house here. As i have from my experience seen it as ok to live on rent here but will it be a good investment for him if he plans to buy a house here.

 

[Susan06]

Well after 5-10 years, there often begins to be a slight financial advantage to owning as opposed to renting. The longer you stay in one place, the better owning becomes. (If you move around every few years, renting is usually a better deal). Of course, it all depends on many other factors as well.