Still Renting

Chicago Standoff, Redefaults Bode Ill for Bank Shares

"Illinois Governor Rod Blagojevich's decision to suspend all state business with Bank of America (BAC) on Monday was disturbing enough for those who believe that political appointees have no business micro-managing lending at the street level. "

More importantly, right now the gov is in police custody.

Oh What a Tangled Web We Weave in Market Headlines

I'll call your "hope" and raise you "change"!

Citigroup Reports Loss on Credit Card Securitizations

I have a question: Imagine you bought a home for $900k with $200k down, and your home is now worth $500k, but you owe $700k along with the huge monthly payments to reflect that. Would you walk even though you can afford the payments. That is, sit on it rent free right until the day of foreclosure and sock away a huge downpayment for, who knows, maybe the exact same house in two to three years for $400k? Sure, your credit took a ding, but you saved $300k in debt, plus built up a nice down payment since you didn't have a house payment.

Credit Crisis Review: ARMed for Failure

I blame the consumer. The reason? I rent because there is no way I was going to compete with what others were doing to buy a home. Meanwhile, I rent at 1980s rental costs. It was a no brainer, really.

Truth be told, if I had known this bubble would go up as much as it did, I still would have bought early on and then just sold last year. I suppose these things always take a bit longer to get here than you expect.

Credit Crisis Review: ARMed for Failure

I expect a lot of people who CAN make their payments to stop making them anyway in some states. Sure, you sour your credit rating, but with a few months-years of free rent and losing the albatross of being upside down to the tune of hundreds of thousands of dollars can make up for a damaged credit rating. Significantly so.

Shoot, you can just pay CASH for your next house...

Yikes, But Duh: Housing Bottom Could Be Two Years Off

The homes in my neighborhood were still selling for $475k to $550k just last year. Meanwhile, my rent has been $1600 for two years and, after perusing Craigslist, is typical.

What would be a reasonable price for my home. based on my rent? I believe it is around $285K, depending on the cap rate one would want.