Realities of the Recession on PBS Frontline: Close to Home We are swamped on FWF with threads from individuals belieiving that NOW is a great time to buy real estate. This recent FRONTLINE special details the life of a NYC business owner and her clients. What I found pertinent is that one individual profiled caught in a bad mortgage took in FOUR other people as tenants. Barbara, Deborah’s sister, helps out at the salon, but she has been struggling with her own economic crisis. After buying a home in Florida at the height of the market, she now has a subprime mortgage that she can no longer afford. Unable to pay the exorbitant interest, she has had to take in four tenants, each with their own stories of foreclosure and unemployment. Please note that these four prior tenants were all prior homeowners and none of them ever lived like this before. I would submit that this is a wake up call to all who believe that they are snapping up real estate at bargain prices that will easily rent/cash flow to newly foreclosed families. I will note this is antecdotal and FL which is armegeddon, but I submit it is further evidence that one must examine what is going on with a different perspective. |
Moderator Comment: Thank you for participating in the forums. However, this topic has been covered in a recent post Here.
posted: Oct. 31, 2009 @ 11:45a
Close
Disclaimer: By providing links to other sites, FatWallet.com does not guarantee, approve or endorse the information or products available at these sites, nor does a link indicate any association with or endorsement by the linked site to FatWallet.com. |
||||||||||||||
|
About Us |
Blog |
Site Map |
Contact Us |
Advertise |
Partnership |
Privacy |
User Agreement |
D.M.C.A. Notice |
Civil Process Policy
While FatWallet makes every effort to post correct information, offers are subject to change without notice. |
