Word: mortgagee
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Is he serious? Choose to rent when owning seems a sure way to riches? On closer view, he just may be on to something. The Choes sold their tiny ranch in Sacramento, Calif., for $369,000, or nearly twice what they had paid three years earlier. But rather than plow...
The Choes aren't alone in finding value in the rental market. With so many people buying homes in the past few years, landlords in certain frothy markets, like San Diego, Miami, Las Vegas and Washington, have gone begging. Not a few are collecting less in rent than they are...
Experience and the nation's million or so real estate agents tell us that in the long run, owning a home makes the most financial sense. But today, with so many rushing to own, the math often works out in favor of renting. In Boston, as prices have jumped since...
Of course, there are trade-offs either way. As a renter, you don't pay transaction costs, property taxes, insurance and maintenance. But you also miss out on a tax deduction for mortgage interest and property tax--often a substantial amount. Then there is the mother of all arguments for...
Past generations thought of their house as an investment, but a passive one. Burning the mortgage after 30 years promised a debt-free retirement and a little legacy for the next generation. But now people track their home values almost daily. And thanks to home-equity loans and refinancings, the...