Thursday, June 09, 2005
Home-less
I agree with Charlie's statement about ninety percent. The problem with homeownership is that you aren't creating wealth or doing any value-added (adding a deck doesn't count) unless you are sub-dividing it or taking a empty lot and building something on it. Otherwise it is just sheltering your funds. The only exception is the usual supply and demand changes that, in the housing market, is heavily influenced by demographics and zoning regs - both out of the hands of poor shmoes needing a place to live.
A good example of that is now my rent is about 40% (or less) of what payments on the same space would be if I bought it. What makes that really disturbing is that if I were the owner, I'd have every incentive to condo it and run with the money. So I might need to move soon. Never know.
As to the 'living on the water' idea Dad, people were jamming up the marinas and the counties around here started limiting the number of "live aboards" so we wouldn't have large floating cities like Hong Kong (see above).
A good example of that is now my rent is about 40% (or less) of what payments on the same space would be if I bought it. What makes that really disturbing is that if I were the owner, I'd have every incentive to condo it and run with the money. So I might need to move soon. Never know.
As to the 'living on the water' idea Dad, people were jamming up the marinas and the counties around here started limiting the number of "live aboards" so we wouldn't have large floating cities like Hong Kong (see above).
// posted by Larry @ 11:13 AM 
