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Home Ownership: Do You Have The Courage To Buy Into This Housing Market?
Almost half of all American adults no longer believe that home ownership is a realistic way to build wealth.
That’s according to Gail Cunningham of the National Foundation for Credit Counseling, quoted in Barron’s this week.
Given that home ownership is a cornerstone in almost every wealth-building plan, this is astonishing. Even if the days of selling a house for an enormous profit are over, building equity in a home beats the pants off paying rent.
Of course, home ownership is not always better than renting, but in most cases, it still is. And even if home prices are flat, building a little bit…
2Jul2009 | Smart Profits Report | 1 comment | ContinuedInside Wall Street: The Fannie Mae/Freddie Mac Bailout is Necessary – But Don’t Expect a Happy Ending
It’s the end of the “American Dream.” It’s the story of how the inevitable bailout of insolvent housing giants Fannie Mae (FNM) and Freddie Mac (FRE) – with the Federal Housing Administration soon to follow – will ultimately lead to such sorrowful sequels as “TheDeath of the Dollar,” “The Downgrading of U.S. Government Debt” and, yes, “The Depression.”
Let’s be very clear on one point, however: There’s no question about it – Freddie and Fannie have to be supported. If the doctrine of “too big to fail” didn’t already exist, it would have to be invented – immediately. Although many are arguing against…
15Jul2008 | Money Morning | Comments Off | Continued
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