In summary, the benefits to society of homeownership are smaller than typically advertised, and they are inconsistent.
i am not surprised at all. this is the biggest scam of all.
Tag: realestate
Eryn Free Spirit Spheres
spherical tree houses. the interior looks pretty crappy though, like an RV.
PIMCO Outlook
this idiot wants to bail out homeowners. that is about as stupid as florida insuring everyone for weather damage, never mind the location.
Florida Real Estate
The state is exposing itself to tremendous financial risk in the event of a large-scale disaster. Unlike private companies, which can seek reinsurance on the global market where risk is less concentrated, the state would have to go to its own taxpayers if a huge storm struck.
moral hazard on the scale of a state. florida is totally fucked.
Financial illiteracy
what do getting locked in with long term phone contracts and losing your shirt with subprime mortgages have in common? financial illiteracy, especially the lack of understanding what net present value means.
2013-06-07:
Many people who gave themselves high marks for managing their finances also were using non-bank borrowing methods, such as payday loans, or had overdrawn their checking accounts.
I always thought dunning-kruger explained people’s infatuation with “owning” real estate, but it turns out it also explains their general financial ineptitude.
Blackboard paint
what i would call dense living. at work, people scribble on the glass doors all the time.
Useless Realtors
people in that city who sold their homes through real estate agents typically did not get a higher sale price than people who sold their homes themselves. When the agent’s commission is factored in, the for-sale-by-owner people came out ahead financially.
realtors adding no value? i am shocked!
Abolish small towns
The state should no longer subsidise the private pursuit of Arcadia through expensive public services for sparsely populated areas. The countryside should be considered a luxury—reserved for wildlife, unmanned agriculture and electric coaches full of gawking tourists. We should abolish villages and make everyone live in towns of at least 25000.
+1
Condominimum
welcome to the 7m^2 apartment
Subprime
it might be that the default risk is only $300b. by comparison, the tech crash was $9t.
2007-12-05: this is hilariously funny
2008-03-16:
a newsteam ventures to one of LA’s new shantytowns made up of people who’ve lost their homes in the subprime meltdown and now live in tents, improvised shacks or RVs on abandoned land. It’s the contemporary Hooverville, and, as the Subliterate Cinephile notes, I wonder why I found out about this from the BBC and not US media.
Gregor J. Rothfuss 