Friday, June 23, 2006

Another Rent Vs. Buy Scenario

This article clearly articulates why it is now better to rent than to buy. At today’s real estate prices, and once you exclude the possibility of double digit gains continuing for years to come, most people would be better off renting now than buying.

“As real estate prices spiraled upwards over the last ten years, artificially low interest rates and lax lending standards were not the only factors helping to maintain housing affordability. Just as important were the expectations of future price appreciation and the suppression of the rental market. With these two factors largely reversed, the housing market is much more vulnerable than most people understand.”

Full article…

9 Comments:

Anonymous Anonymous said...

PNC Bank alleges that HSBC BANK suspected that Solomon Dwek was engaged in real estate fraud

Click: Updates on NEW JERSEY REAL ESTATE MOGUL SOLOMON DWEK`s Bank Fraud Case

Saturday, June 24, 2006 1:22:00 PM  
Anonymous Mr Hoffman said...

NY Post had an article about this:

Someone who rented at market rents for the last 10 years has seen their housing costs increase by 68%

Someone who rented at rent stabilized rents for the last 10 years has seen their housing costs increase by 52%

Someone who bought a co-op or condo for the last 10 years has seen their housing costs DECREASE by 7% IF they refinanced ONLY once during this period.

Saturday, June 24, 2006 2:21:00 PM  
Anonymous Anonymous said...

Anyone else noticing open house signs on Saturdays?

Saturday, June 24, 2006 5:49:00 PM  
Anonymous Anonymous said...

Saw empty open houses last week and especially this lousy weekend. Have also seen them on Friday - trying to get the bennies to buy.

Sunday, June 25, 2006 9:20:00 AM  
Anonymous Anonymous said...

Northern New Jersey Real Estate Bubble

Sunday, June 25, 2006 11:13:00 AM  
Anonymous Happi in KS said...

Looking at the property values in little silver I see property taxes average about $20,000 to $30,000 I just can't fathom WHY anybody would pay that?...I mean if you live there for 10 years you would pay 1/4 MILLION IN TAXES ALONE ...I'M SPEECHLESS..(http://www.zillow.com/HomeDetails.htm?city=Little%20Silver&state=NJ&zprop=39283436) this one was almost$ 70,000...what do you people do in NJ....what do you GET for that ?.....

Sunday, June 25, 2006 11:41:00 AM  
Anonymous Anonymous said...

http://www.app.com/apps/pbcs.dll/article?AID=/20060625/NEWS01/606250451/1004

Sign-carrying protesters want immigration laws enforced
Posted by the Asbury Park Press on 06/25/06
BY HARTRIONO B. SASTROWARDOYO
STAFF WRITER


MANASQUAN — By Ron Bass' estimate, there were four dozen people waiting at the corner of Route 71 and Main Street in Manasquan. They all were waiting for a ride — not on the NJ Transit bus that stops there, nor on the train at the station one block up the street. They were waiting for a ride to work.

Aside from the group being all male, and that they were in a parking lot clearly marked in Spanish and English, "No congregarse/No traspasar" ("No loitering/No trespassing"), they had another trait in common, Bass said.

"Every one of them is an illegal alien," he alleged.

Bass, a 61-year-old resident of Elizabeth, is founder and president of Linden-based United Patriots of America, and was among six people representing a coalition of groups protesting illegal immigration in the borough Saturday. Holding signs such as "Don't hire illegals," "Secure our borders" and "Save Amer-ican jobs," they stood at a known gathering spot for illegal immigrants, objecting to what they say is a lax enforcement of immigration laws.

"We're here to send a message to fellow citizens and to elected officials that we will not accept nonenforcement of the laws of the United States," said Bass, adding his group plans to hold future protests on Saturdays at the same location in Manasquan, near borough hall.

Joining them were representatives from like-minded organizations such as New Jersey Citizens for Immigration Control, Carlstadt and New Jersey Minutemen.

While relations between the immigrants and the protesters were peaceful, without a word passing between them, some passing motorists yelled at the protesters. One of them asked UPA member Carmen Morales, 58, of Middlesex County, where her ancestors were from.

"That's not the point," said Morales, a citizen born to Puerto Rican parents. "Yes, we are all immigrants, but do they (the people waiting for work) have the right to cross the border illegally?"

"We're not looking to do anything other than educate people on how bad the problem is," said Ted Mechnick, 58, of Wall. "We're not looking for confrontation."

As well, "homeowners don't realize that if they hire someone who is not insured and that person gets hurt, they can go after your homeowner's policy," said Pat DeFilippis of Lakewood, a New Jersey Minutemen member who also runs a home-improvement company.

Mechnick, who runs a construction company in Lakewood, said hiring legal workers is not difficult as long as one is persistent.

"There are plenty of guys out of work today," he said. Mechnick said he took out a newspaper ad, and though it cost him $1,300, he found four people whom he hired.

"I'm (determined to get) all legal people," Mechnick said. "It all worked out."

ON

Sunday, June 25, 2006 1:21:00 PM  
Anonymous Anonymous said...

Employers would face fines of up to $10,000

Employers found to have knowingly hired illegal workers would be subject to orders to stop the practice. If they fail to do so — essentially a second chance — they would be subject to fines of up to $10,000.

Sunday, June 25, 2006 1:24:00 PM  
Anonymous Anonymous said...

found it http://www.nypost.com/news/regionalnews/renters_get_lugged_regionalnews_david_seifman.htm

Sunday, June 25, 2006 2:10:00 PM  

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