Cheaper housing alternative! (real estate, foreclosures, rent)

[elizamary]

I saw this article and thought some may find this informative and interesting.

4 cheaper housing alternatives - Buying a House - MSN Real Estate

[maryCh]

Interesting article, elizamary... and a sad commentary on the current economy that more and more people are resorting to these considerations! Very sobering, in my opinion.

Mary

[elizamary]

Originally Posted by maryCh

Interesting article, elizamary... and a sad commentary on the current economy that more and more people are resorting to these considerations! Very sobering, in my opinion.

Mary

the economy is in bad shape and it is sad. This latest boom of foreclosures is brought on by a combination of things. Banks granting adjustable rate mortages to people who can't afford them and people buying above their means.
I dont' claim to be an expert and please correct me if I am wrong but this is pretty much how I see it.

Of course the rising gas prices aren't helping either. some have been noted as choosing between a gallon of milk or a tank of gas.

[Gdelemschl]

curious minds want to know ... Is the housing crash in the offing also for Delaware?

... e.g. found this site link:
US Housing Crash Continues

how many of such considerations are also applicable to the Delaware region? Thanks for taking the time to respond.

[maryCh]

Gdelemschl,

I have read and heard that Delaware is suffering from the housing crash, just as bad as a lot of the rest of the country. I read in the local paper about foreclosures being at an all time high, etc. Such is the sad state here in the U.S.

elizamary... the ARM's have been around long enough that the mortgage industry is suffering more than the media is letting on sometimes. Back in NC, as far back as 8-10 years, ARM's were the new wave for a big market of homebuyers... first timers, single parents, and seniors looking at the golden years. Sadly, the focus was put on making the all American dream come true for many... home ownership. I knew many people in that situation, and believe me, their hopes were too high for them to see what was coming. Three or four years down the line, with the mortgage payment topping out, and before you know it, the payments were several hundred dollars more than they started with. Quite common for pretty savvy people to get rooked!

It is another sad fact of American life that most live beyond their means. Sometimes that is forsee-able, sometimes not. Medical situations alone can really throw a family's budget to the wind. I know this first hand... hubby and I were always pretty frugal, and held our own for years. But many things happened over the course of 1996/97 that we are still recovering from. And that was when the economy was better!

Personally, I pray that we do not see an evolution of RV living out of necessity. In my opinion, an RV should be someone's home out of choice, not as their only alternative. Will be looking more closely at the RV's parked in the state parks this summer...

Mary

[christina0001]

If it weren't for the cost of gas, I would love to live in an RV. A few years back, while camping, I met an older married couple who were retired and were doing just that. They would spend 6 months in one place, then they would move. They had a small storage unit near family where they kept what belongings they didn't need to carry with them, but didn't want to give up. I love camping so it sounded very exciting and bohemian to me!

[elizamary]

Originally Posted by christina0001

If it weren't for the cost of gas, I would love to live in an RV. A few years back, while camping, I met an older married couple who were retired and were doing just that. They would spend 6 months in one place, then they would move. They had a small storage unit near family where they kept what belongings they didn't need to carry with them, but didn't want to give up. I love camping so it sounded very exciting and bohemian to me!

Before Hubby and I decided to move to the community we now live in, We were going to sell the house, buy an RV and be free spirits for a year or two.
I know people that have done this and its sounds so adventurous. I have longed to go cross country and visit every state in the union.
We decided to put it on hold the alias the price of gas shot up.

I live in a manufactured home and love it. You get a really nice home for half the cost. And it is loaded too.
they make them much stronger with stricker codes these days.

I also know people that have 2. One in Florida and one where ever.
they spend 6 months in Florida and 6 months in the state they live in.

The american dream is living your life as you want the best way you know how.
And I feel we have achieved this. With being so happy,how could I not see it any other way.
nice to see you chime in Christina.
Take care
Eliza

[movn2del]

Hubby and I have talked about living in an RV and seeing the country. We would love to do that! I don't foresee it with our young children. I don't want to homeschool. Maybe when we are older. Even with the price of gas, to travel to a different location every 2-3 months would be really fun. You can make friends to revisit and keep in touch with all over the country.

[Honeycrisp]

Originally Posted by christina0001

If it weren't for the cost of gas, I would love to live in an RV. A few years back, while camping, I met an older married couple who were retired and were doing just that. They would spend 6 months in one place, then they would move. They had a small storage unit near family where they kept what belongings they didn't need to carry with them, but didn't want to give up. I love camping so it sounded very exciting and bohemian to me!

A penfriend from Canada did the exact same thing although I dont think they stayed long in any one place. Their dream was to travel the US and Canada (and later Europe), what a wonderful experience to see so many sights - we met and saw some wonderful photos - but you are together 24 hours/7 days a week and that's probably a bit difficult at times. Someone would send their mail occasionally, at times they'd housesit/petsit too. Unfortunately she took ill and I believe he later passed away - they were a lovely couple, youthful and energetic, they never got to travel Europe the way they hoped - but they certainly lived their dream and had a wonderful time doing so.

[elizamary]

Originally Posted by Honeycrisp

A penfriend from Canada did the exact same thing although I dont think they stayed long in any one place. Their dream was to travel the US and Canada (and later Europe), what a wonderful experience to see so many sights - we met and saw some wonderful photos - but you are together 24 hours/7 days a week and that's probably a bit difficult at times. Someone would send their mail occasionally, at times they'd housesit/petsit too. Unfortunately she took ill and I believe he later passed away - they were a lovely couple, youthful and eneregetic, they never got to travel Europe the way they hoped - but they certainly lived their dream and had a wonderful time doing so.

That is a wonderful story honecrisp. My neighbor is from German and met her american husband while living in Europe.
the did that very thing all over America and Europe. Their RV was too large for some of the back country roads in Europe so they ditched that and stayed in out of the touristie places. Many people in Europe rent rooms and farm houses reasonable. They traveled all over Europe, live in Iran for a spell, asia and not sure where else. Her husband is not in the best of health so they do not do this anymore. In fact, RV has long been gone.
But the memories. Oh, I can sit and listen forever about their lives. So interesting.
My hubby and I were going to do this but he isn't supposed to drive. I'm not a big person and never drove anything bigger than a mid size car so I was a little hesitant to do this. Instead, we get good deals to fly into different cities, rent a car and do it that way.