The Collected Works of Author and Blogger Larry Roberts

Archive for March, 2011

Back when real estate always went up -- or at least when that was a commonly accepted as fact -- the rent-versus-buy decision wasn't primarily financially or investment oriented. Most often people would chose to rent instead of own because they valued mobility, didn't want the liability and responsibility of home ownership and maintenance, or a variety of other reasons. Until the market crashed, renters did not consider losing their down payment and more if they need to sell unexpectedly. Much to the chagrin of realtors, potential buyers now know crashes are possible. Buy? Nah, Rent. Nah, Buy. Deciding used to be simple—buying a home always made sense. Then the bubble burst. By Alina Tugend -- Wednesday, March 16, 2011…[READ MORE]

Most people who bought houses during the 00s did so with dreams of riches. Those dreams materialized in laughter for some, tears and financial slaughter for others. Bricks and slaughter Property is widely seen as a safe asset. It is arguably the most dangerous of all, says Andrew Palmer Mar 3rd 2011 ... Why is property so dangerous? One obvious answer is the sheer size of the asset class. The aggregate value of property held by American households in the peak year of 2006 was $22.7 trillion, their biggest single asset by a wide margin (pension-fund reserves were next, at $12.8 trillion). Working out the figures in other countries involves much more guesswork. Back in 2002 this newspaper reckoned that…[READ MORE]

Timeshare or fractional ownership has been around since the 60s, but is was during the 90s this industry really took off. Wikipedia defines Timeshare as follows: A timeshare is a form of ownership or right to the use of a property, or the term used to describe such properties. These properties are typically resort condominium units, in which multiple parties hold rights to use the property, and each sharer is allotted a period of time (typically one week, and almost always the same time every year) in which they may use the property. Units may be on a part-ownership or lease/"right to use" basis, in which the sharer holds no claim to ownership of the property. Timeshares give people the…[READ MORE]

Really biased and misleading crap is common on realtor blogs, which is why nobody reads them. When realtors are allowed to post their bluster as news on the OC Register, many people take it as information rather than indoctrination. It soils the OC Register when they permit this. Published: March 7, 2011 Updated: 5:25 p.m. California had no real estate bubble MIKE COTTER [email protected] Nearly everyone accepts as fact the perception that California real estate prices "skyrocketed" into the stratosphere from the mid-1990s to the mid-2000s, creating a "bubble." But historical data easily disproves this. This guy has an interesting way of setting up his argument. He makes a bold and easily disprovable statement as if it were fact, and…[READ MORE]

People get caught up in their empathy with those losing their family homes to foreclosure. Its easy to get sucked in to the emotional stories of victimhood and believe that perhaps we should stop foreclosures. We all forget that the distressed debtor who rented money from the bank to occupy the house and appear on title will turn over the property to a new buyer who is not as indebted. This new buyer will be able to sustain ownership under stable, government-backed financing terms. Pain for Some Families Presents Possibilities for Others By Doug McKelway -- Published February 24, 2011 As much as the bursting of the real estate bubble devastated the economy, destroyed hopes, and caused untold pain, there…[READ MORE]

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