Do you think it’s better to rent? Do you think it’s better to buy a home? While there are many who would suggest that buying a home is always the best option, it isn’t as clear cut as it should be. Buying a home means taking on a lot more risk. The recent drop in the housing market has successfully made it harder for people to buy a home (who shouldn’t be buying homes yet). But, it has also forced people to be more responsible with their finances. I was happy to find an infographic that matches this trend. Below you will find an infographic that shows the comparison of homeowners to renters, in respect to debt and expenses. I was surprised to see some of the results.
If you are like most Americans, you’ll need a good plan for tapping into your home equity in retirement. Most Americans hold a large portion of their savings in equity after retirement. While equity is a nice figure to help boost your net worth, it’s more than a little troublesome to convert to cash. While there are plenty of options for tapping into home equity, there are many costs, benefits and downsides to any potential strategy.
I have been starting to save up some money for a real estate investment that seems promising in the next couple of years. (I would love for it to be sooner, but it will take me a couple years to save up the necessary down payment). Because it will take me a little while to get to the point of financial security where I feel comfortable investing, I have been wondering if there are other areas or investments which might be more lucrative than real estate. I love the long term promise of real estate and the fact that it can be completely passive (with a real estate property manager), but I figured I owed it to myself to make sure that I have the best investment opportunity for passive income.
If there is anything this recession has proven to Americans, it is that unemployment can happen to anyone. The economic turmoil has been particularly brutal for those on unemployment. According to economic reports, the average duration for unemployment has ballooned to over nine months in the last few years. Just because your paychecks have stopped, doesn’t mean that your mortgage payments go into hibernation.
If you are shopping for a new home, you should take the time to learn about the seven most common types of houses.
Shopping for houses means looking through countless of listings whether on the internet, in the classifieds, or in MLM listings. Oftentimes these listings don’t come with pictures, so you’re left to imagine what the house looks like through the description alone.
More troubling data on real estate and foreclosures as a whole from the NYT: In New York State, it would take lenders 62 years at their current pace, the longest time frame in the nation, to repossess the 213,000 houses now in severe default or foreclosure, according to calculations by LPS Applied Analytics, a [...]
As if we had any real doubt that U.S. real estate was FUBAR, but the March Case Shiller Index numbers did us a favor and confirmed what the smart money already knew. Too bad the Case Shiller model doesn’t take condos, bank owned real estate, short term prices, etc. Wouldn’t want to show chartology for [...]
Legendary chartporn of this quality would almost make me ill had I not been so prepared for the smell of Castor Oil. From the article: This chart is really astounding. It shows the average number of days that homeowners with defaulted loans (NOD) have not made a mortgage payment. For New York, one of the [...]
Image via Chart of the Day A 20 second scan of the headlines for the real estate tab on this blog will show you I’ve been bearish on U.S. real estate since this blog began several years ago, but I’m thinking it might be time to go from ultra bearish to neutral on select markets based [...]
A few of us knew the double dip in real estate was a no brainer, but what I didn’t expect, and for some inexplicable reason no one from the financial establishments is facing criminal charges for, is the outright fraud in an attempt to cover up (e.g. paper over) their incompetence. If you or I [...]
It’s ironic that regardless of all the hype around “green shoots” and hopium filled speeches to inspire investor confidence that real estate — when left to a solely organic recovery without any sort of government induced steroid-like stimulus program — will likely take years, if not decades, to get to 2006 real estate bubble prices. [...]
Image Credit: Chart of the Day Being a chartporn aficionado, it’s hard to not to look at such a chart and wonder if precious metals and real estate markets from the late 1970s/early 1980s will do an encore. Real estate still has a long way to fall, in my opinion as well as many others [...]