Article on Ratio of Mortgage debt to Housing Value

[eccen in esc]

http://www.cepr.net/index.php?option=com_content&task=view&id=1207&Itemid=220

here is an article on ratio of mortgage debt to housing value you may find interesting

[PerryChase]

Thanks for posting the interesting article.

This statement is very telling.

” The long-term problem is that tens of millions of baby boomers are approaching retirement with relatively little equity in their homes and almost no assets outside of their homes. Their retirement income will be almost entirely dependent on Social Security. ”

I believe that easy credit is changing how we look at asset purchases. As car dealers would tell you, most drivers now look at car in terms of the monthly payments they can afford and not the purchase price of vehicles. We’re getting to that same situation with housing. People say, well my rent is $1500/mo if I can buy for $1,500/mo, I’ll do it without thinking of the long term consequences.

[PerryChase]

Thanks for posting the interesting article.

This statement is very telling.

” The long-term problem is that tens of millions of baby boomers are approaching retirement with relatively little equity in their homes and almost no assets outside of their homes. Their retirement income will be almost entirely dependent on Social Security. ”

I believe that easy credit is changing how we look at asset purchases. As car dealers would tell you, most drivers now look at car in terms of the monthly payments they can afford and not the purchase price of vehicles. We’re getting to that same situation with housing. People say, well my rent is $1500/mo if I can buy for $1,500/mo, I’ll do it without thinking of the long term consequences.

[PerryChase]

The amount of gambling with housing has been over-the-top. I’m always amazed at how much people will stretch to get into a house. Unfortunately, they can’t stretch anymore and they’re stuck with no easy exit.

This craigslist post is very telling. This seller is selling a home worth hundreds of thousands but can’t afford to $350 to stage his house? Something is very amiss here.

http://sandiego.craigslist.org/fur/347875906.html
—————
Wanted to rent furniture for home sale – read me!
Reply to: [email protected]
Date: 2007-06-08, 1:56PM PDT

Hi,

I am selling my home and would like to rent some contemporary furniture to stage my home. Like many San Diegan’s, I bought high and am having to sell at a break even point, so I don’t have $350-500 a month to pay Fashion Furniture Rental or one of those guys.

I don’t need a full home staged, but I need a few pieces. This furniture would be immaculately cared for, and will barely be used since I am only staying in the home 1-2 days a week at this point, and would be in a pet and smoke free environment obviously.

Here are my needs:

-Sofa (preferrably a nice Pottery Barn or West Elm style contemporary micro fiber, or possibly brown leather)

-Chair (Would like a brown leather chair, contemporary and beautiful)

-Area rug – Contemporary style to go under the coffee table, doesn’t have to be huge

-Queen bedroom set with frame preferrably in a nice black chocolate/espresso color, as well as a matching night stand (only have room for 1, not 2) and a dresser

I anticipate my home will be priced to sell in 30-60 days, but I would need flexibility in the length of the rental if possible.

So, if you have furniture just sitting around, or perhaps you’re going to remodel your home and need a place to put your furniture, or maybe you’ve been trying to sell it for a long time and no one has bought it, please reply to this ad and hopefully we can come to an agreement and you can earn some extra cash rather then just letting it sit. I would be willing to pick everything up, so you wouldn’t have to worry about delivery.

Thank you!!

[PerryChase]

The amount of gambling with housing has been over-the-top. I’m always amazed at how much people will stretch to get into a house. Unfortunately, they can’t stretch anymore and they’re stuck with no easy exit.

This craigslist post is very telling. This seller is selling a home worth hundreds of thousands but can’t afford to $350 to stage his house? Something is very amiss here.

http://sandiego.craigslist.org/fur/347875906.html
—————
Wanted to rent furniture for home sale – read me!
Reply to: [email protected]
Date: 2007-06-08, 1:56PM PDT

Hi,

I am selling my home and would like to rent some contemporary furniture to stage my home. Like many San Diegan’s, I bought high and am having to sell at a break even point, so I don’t have $350-500 a month to pay Fashion Furniture Rental or one of those guys.

I don’t need a full home staged, but I need a few pieces. This furniture would be immaculately cared for, and will barely be used since I am only staying in the home 1-2 days a week at this point, and would be in a pet and smoke free environment obviously.

Here are my needs:

-Sofa (preferrably a nice Pottery Barn or West Elm style contemporary micro fiber, or possibly brown leather)

-Chair (Would like a brown leather chair, contemporary and beautiful)

-Area rug – Contemporary style to go under the coffee table, doesn’t have to be huge

-Queen bedroom set with frame preferrably in a nice black chocolate/espresso color, as well as a matching night stand (only have room for 1, not 2) and a dresser

I anticipate my home will be priced to sell in 30-60 days, but I would need flexibility in the length of the rental if possible.

So, if you have furniture just sitting around, or perhaps you’re going to remodel your home and need a place to put your furniture, or maybe you’ve been trying to sell it for a long time and no one has bought it, please reply to this ad and hopefully we can come to an agreement and you can earn some extra cash rather then just letting it sit. I would be willing to pick everything up, so you wouldn’t have to worry about delivery.

Thank you!!

[Author]

Posts