Word: moving
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...years ago, Michael Choe appeared in the pages of this magazine for doing something spectacular: choosing to be a renter. At a time when real estate riches were Topic A ("Home $weet Home," read the TIME cover line), the engineer, from Sacramento, Calif., decided to sell his house and move with his wife and baby boy into a rental. "Compared to owning, rent is cheap," he said back then...
Exceedingly smart move. Since the summer of 2005, house prices in Sacramento have plummeted by half. Choe and his family - which now includes a second son - watched from the sidelines until the end of last year. That's when the Choes moved back into a home of their own, a four-bedroom they plucked out of foreclosure at a 35% discount from what it had sold for two years earlier. (See pictures of Americans in their homes...
...this smart move No. 2? In other words: Is it really time...
...example, though blacks are 13 percent of the national population, they are less than one percent of Montana’s population. They can move there if they wish. But “to ‘level the playing field,’ should we bus blacks into the state?” asked Walter Williams, a professor of economics at George Mason University. “I damn sure don’t want to go to Montana...
...much less fluid than most people think.” She notes, “The richest one percent of the population now have more wealth than the bottom 90 percent.” But she assumes that people stay in these statistical groupings for life. In fact, individuals move. A study by the University of Michigan found that only five percent of families in the bottom quintile in 1975 were still there...