Word: choe
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Dates: during 2000-2009
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Harvard Undergraduates for Human Rights in North Korea (HRiNK) invited Kim to speak as part of the organization’s “North Korean Awareness Week,” according to organization member Ja-Yoon “Uni” Choe...
...housing bubble inflated, the math increasingly favored renting. House prices went up and up while rents stayed relatively flat, meaning you could get a lot more bang for your buck by choosing a lease over a deed. Now, with the housing market in a pulp, the tables are turning. Choe's most recent rental cost him $1,500 a month. His new mortgage payment, for a same-size house, is $1,570 (after a 20% down payment). "Not a bad deal," he says - especially considering that once Choe takes into account the money he saves on taxes by deducting...
...late 2001, this ratio began to climb, and by 2003, it was soaring along with home prices, hitting 24.7 in 2005. In those days, you could get 24.7 years in a rental for the cost of a house. That was right about when Choe decided that renting looked like a steal...
...Dean Baker, co-director of the Center for Economic and Policy Research, who has done his own analysis of price-to-rent ratios. "It's when you see large divergences that it matters." After all, there are other considerations that go into the decision to buy a house. When Choe bought last fall, he figured the air was still coming out of real estate, but his older son was about to start kindergarten, and he wanted to settle into the right school district. "My thinking was, It's not the bottom, but it's gone down enough," he says...
Back in Sacramento, Choe is happy in his new home. His living room is decked out in seven-speaker surround sound, a setup he deemed not worth the trouble when he lived in a rental. And he no longer tenses up when the kids take to the walls with crayons...