Word: renting
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...Julien Bayou, 29, one of the half-dozen or so people at the core of France's new protest movement. "Thirteen percent of people in France live in poverty, youth unemployment is above 25%, and the number of people who can't keep up with the price of rent and food continues to rise. We're caught in the middle of all that, so we had to find a more efficient way to deal with it than the usual method of marching with sad faces in the rain." (See: "Global Business Tips: France...
...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...
...figure out which is better now, start with the fact that in the long run, the costs of owning and renting stay in fairly steady proportion. Economists call this the price-to-rent ratio - take the average cost of buying a house and divide it by what you'd pay in rent in a year. The analysis shop Economy.com calculates that since 1986, the price-to-rent ratio for U.S. cities has averaged 16.5. In other words, the price of a house is the same as what you'd pay to rent it over 16.5 years...
...since the end of 2005, the price-to-rent ratio has been falling, thanks to the home-price implosion. Across major U.S. cities, the ratio is back to 17.4, practically its historical average. (If you wrap in rural areas, the figure is smaller and the trend less pronounced but still there.) "A year ago, it was a better deal to rent," says Andres Carbacho-Burgos, an economist at Economy.com "Now you have a significant number of areas, especially those hit the hardest by the correction, where, when you compare prices to rents, you'd be led to believe...
...determined to leave. But when he reads that the Woodstock festival planned for that August has been denied a permit in a nearby town, he calls the promoters and invites them to White Lake and its neighboring town Bethel, where farmer Max Yasgur (Eugene Levy) might be willing to rent it to them for $5,000. Make that $75,000, when he learns how desperate they...