I still believe it's better to own, rather than rent, your home. But, it's not what it used to be. My monthly mortgage payment has gone up 33 % in the ten years we've owned our home. And, no, we don't have a variable rate loan. Every time property is assessed, the value of our home goes up. That is a good thing. Except the taxes follow. And so does the insurance. Carl argues that home ownership ain't all it's supposed to be.
Only a moron could say this with a straight face: "The more people who own their home, the better off America is," President George W. Bush said in a 2004 speech. "See, we want more people owning something because when somebody owns something, they have a vital stake in the future of the country." This is so pre-9/11 thinking. Actually, it's so pre-Reagan thinking. The history of home ownership in this country is one which saw homes, actual buildings with one family in them, as a fairly [...]
Of course, things could always be worse: New Orleans Rebuilding Slowed Due to Insurance Premiums
New Orleans homeowners and business owners say their insurance premiums have doubled or tripled since Katrina. Businesses are delaying rebuilding. Workers have been slow to return. Sky-high insurance has become what Mississippi Attorney General Jim Hood calls the "third storm" to hit the region behind Katrina itself and the legal disputes over [...]
Tags: Mortgage, Home Ownership, George W. Bush
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