Tenants snap up homes as prices fall

After six years of renting in San Francisco, Kate Wilusz jumped at the chance to swap her tiny apartment for a roomy four-bedroom Victorian home. But she is paying a mortgage instead of rent - and coming out even.

"I could not be more thrilled," said Wilusz, a financial planner who recently closed on the dream house with her husband, Charley.

In some US markets, prices appear to have fallen enough to make buying cheaper than renting. Mix that with mortgage rates that are near record lows and renters who want to become buyers are rejoicing.