When Robert Ringer wrote his book -
Restoring the American Dream - way back in 1979, reading it swung me to the brighter side of politics. Seems as though, now, it's cheaper to rent than own, as a lot of folks are discovering. Course the slumlords et al will benefit, and lose in the long run, but then again, why not? I own no real estate and at my age, I'll continue to rent. But I digress.
Quote:
PALMDALE, Calif. -- Schoolteacher Shana Richey misses the playroom she decorated with Glamour Girl decals for her daughters. Fireman Jay Fernandez misses the custom putting green he installed in his backyard.
But ever since they quit paying their mortgages and walked away from their homes, they've discovered that giving up on the American dream has its benefits.
Both now live on the 3100 block of Club Rancho Drive in Palmdale, where a terrible housing market lets them rent luxurious homes -- one with a pool for the kids, the other with a golf-course view -- for a fraction of their former monthly payments.
|
At least I sold all my stuff, instead of forfeiting, so in that respect my credit has not been injured.
American Dream 2: Default, Then Rent - WSJ.com
The interactive graphic is very interesting, too.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
