By Jack Naudi
ST. LOUIS POST-DISPATCH
05/25/2008
This column will challenge how most of you view your houses. So let me begin with the most-provocative comment: In general, I think it's a good thing that house prices are falling.
I honestly believe lower house prices will strengthen the national economy in the long term. And, much as the Great Depression helped people understand the risk of stock-market investing, I'm hopeful that what might be the worst national housing market since the Depression will force people to rethink the value of owning a house.
For decades, a hoax has been perpetrated on Americans by a greedy, or naive, residential real estate industry. It's the notion that your house is an investment, a retirement nest egg.
In addition, the real estate industry equates paper profits with actual profits. The truth is, your house is worth nothing until you sell it, which can be difficult.
And even when you do sell it, the "profit" isn't the selling price, minus the purchase price. It's the sales price, minus the purchase price, minus the broker's commission, minus household repairs and improvements, minus taxes and insurance paid. And when add it all up, you could be recording a loss, not a profit.
The absolute worst aspect of house buying is that many people can't afford the houses they buy. Sure, they qualify based on lenders' ratios. But after stretching themselves to the limit on mortgages, many house buyers don't have enough left for real investments, like stocks and bonds.
Friday, May 30, 2008
Thursday, May 22, 2008
Friday, May 16, 2008
FOUND DOG IN PARKING LOT.
FOUND DOG IN PARKING LOT.
The dog is very nice and loving. It's gray. I tried calling the number on the tag and the number from what animal control said is dead. I don't want animal control to take it because it seems in shock enough as it is. It's in really good hands, but I want to try and find the owner myself for the next few days rather than send it to the shelter where they just put him in a cage. I will post flyers around the area, but just wanted to post it on here to see if anyone knows of anyone missing a dog. Please contact 714-255-9361 if you have any questions or know anything. Thanks!
The dog is very nice and loving. It's gray. I tried calling the number on the tag and the number from what animal control said is dead. I don't want animal control to take it because it seems in shock enough as it is. It's in really good hands, but I want to try and find the owner myself for the next few days rather than send it to the shelter where they just put him in a cage. I will post flyers around the area, but just wanted to post it on here to see if anyone knows of anyone missing a dog. Please contact 714-255-9361 if you have any questions or know anything. Thanks!
Tuesday, May 06, 2008
Are Owners stealing value by underfunding reserves and then selling out?
Click on link in the title for entire article at the condoissues blog.
"All condominium associations face the problem of high and ever increasing costs to maintain a condominium project, including reserves. To compound the problem, a number of condominium boards cannot, or will not, make 'hard and unpopular' decisions of raising maintenance fees to meet this problem and facing any criticism.
"All condominium associations face the problem of high and ever increasing costs to maintain a condominium project, including reserves. To compound the problem, a number of condominium boards cannot, or will not, make 'hard and unpopular' decisions of raising maintenance fees to meet this problem and facing any criticism.
No Hot Water Last Night May 5th!
did anyone else not have hot water this afternoon & nite? does anyone know why?
unit#125
unit#125
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