Housing Now as cheap as Renting according to some numbers

I heard someone talking the other day about numbers he's been tracking for quite a while on the cost of owning a home versus the cost of renting. He said that for the first time his numbers were showing the cost of owning a house going down enough to be comparable to the cost of renting. So for those of you who've saved a nest egg and are looking to go from renting to buying, now might be a great time to do it. Sellers have started to acknowledge the drop in market values and listing prices have come down as a result.