Money Minute: To Buy or To Rent? Apple Wins Latest Round

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Is it better to buy or rent your home? It depends on where you live.

Deutsche Bank (DB) has ranked 54 U.S. cities on the value of buying a home versus renting. In Cleveland, it's 50 percent more expensive to rent than buy. The other top markets favoring buyers are: Rochester and Buffalo, New York; Tampa Bay-St. Petersburg in Florida; and Chicago. At the other end of the scale, top five markets favoring renters are all in California: Oakland, San Jose, Orange County, San Diego and San Francisco.

A jury in California ruled late Friday that Samsung was guilty of violating two key patents held by Apple in the long-running war between the two smartphone makers. It awarded Apple $120 million in damages, but that's just a fraction of the $2.2 billion Apple (AAPL) had been seeking. Most analysts say the decision is pretty much a draw, with the two companies likely to battle in court for years to come. And the California case isn't over quite yet. The judge must still decide if either company should be required to withdraw any products from the market.

Separately, Apple and two other tech giants -- Microsoft (MSFT) and Google (GOOG) -- say they will begin to notify customers when they get a government subpoena for information. Civil libertarians are praising the move, but the government is none too happy. Officials say the notifications could compromise investigations by alerting suspected criminals.

Here on Wall Street last week, the Dow Jones industrial average (^DJI) and the Standard & Poor's 500 index (^GPSC) gained nearly 1 percent, while the Nasdaq composite (^IXIC) rose more than 1 percent.

The growing list of potential bidders for the Los Angeles Clippers basketball team now includes a company that wants to jump into the big time sports business. Skechers (SKX), the shoe company known for its fashionable styles, says it might want to use an NBA franchise as a way to enter the market for basketball shoes. The company recently scored a coup by providing the shoes worn by Boston Marathon winner Meb Keflezighi.

-Produced by Drew Trachtenberg.


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Go Cardinals!!!

If the gov't takeover of Fannie Mae and Freddie Mac goes through it'll be next to impossible to get a home loan. Owning a home is only worth it if you plan on staying there for 10+ years. You have to have a stable long term job or the house can be a anchor on you. I have buddies that moved out of their home and now lose $900 a month still paying for mortgage on top of the renters fees of those living in their old pad. Homes are a huge investment. I for one think if you pay off your home you shouldn't have to pay taxes on it anymore....it should be yours free and clear forever.

May 05 2014 at 1:42 PM Report abuse -1 rate up rate down Reply
Scottilla

My house is worth $1M more now than when I bought it. If I had it to do over again I would buy.

May 05 2014 at 12:53 PM Report abuse +1 rate up rate down Reply
crimeslawyer

Buy. It will make you a millionaire someday. Only fools rent.

May 05 2014 at 10:36 AM Report abuse +3 rate up rate down Reply