Single, but Laying Down Roots [Now, 21% of all home purchases are by single women buyers]

The NY Times - Business Section ^ | Jan 18, 2004 | ABBY ELLIN

[summer]

FYI. I think this is a postive trend that should be mentioned more often: the fact that during GW's term as president, more women made the decision to buy their own home -- thereby increasing their financial worth.

I know GW wants to focus on marriage and the family, and I am all for that, too; but, this trend of women buying their own homes, is, to me, an encouraging and uplifting trend to follow.

[summer]

postive = positive

[American in Israel]

Somehow getting in a fractional million dollar debt at compound interest that is much higher than the growth in real estate value is not equity building to me.

I guess I just think funny...

[summer]

I think you're wrong about the growth value in real estate, especially if you're buying real estate in Florida.

[summer]

Real estate values in this state (FL) go in only one direction - up.

[ItisaReligionofPeace]

The sheeple don't realize that housing prices will not appreciate at 6% a year forever. That said, we all have to live somewhere it is nice to have something to call your own. (not everything in life is a financial decision, nor should it).

[bcoffey]

Somehow getting in a fractional million dollar debt at compound interest that is much higher than the growth in real estate value is not equity building to me.

My 26-year old daughter bought a home last year for $190K. It's now worth $240K. I'd say the 26% yearly increase in value outweighs the 5.75% mortgage she's paying.

(Plus her house payment is the same as a one bedroom plus den apartment)

[ItisaReligionofPeace]

Florida is a unique situation, but there have been times in Florida when the market fell out. People have very short memories.

[rintense]

I am one of the single women home owners- bought mine in 1998. My brother was in such awe, he suggested I get a prenup if I ever get married. ;)

[cornelis]

love can be dicey. Building equity, on the other hand, is often within reach.

These are the people that fawn over my children--or tell me to send them to the mines.

[summer]

Believe me, the home market is not falling here. It's been up, up and up for a long time. And shows no signs of slowing down.

[summer]

Good for you! :)

[summer]

(Plus her house payment is the same as a one bedroom plus den apartment)

That's the REAL shocker for most single women I know - their monthly rental payments were the SAME or MORE than the cost of a monthly home mortgage.

[summer]

housing prices will not appreciate at 6% a year forever

true; I think the appreciation may actually go higher.

[TheAngryClam]

It's a good idea.

I'm only 22, and I'm looking into purchasing a home here after I finish law school next year.

The tax savings are astronomical compared to renting, and, if you structure the mortgage right and don't overextend yourself, you don't pay all that much more than rent.

[Ronaldus Magnus]

Real estate values in this state (FL) go in only one direction - up.

I just laughed so hard I cried! Thanks, I needed that! Seriously, history has shown that whenever people start believing in mass that an investment can only appreciate (whether it's real estate, tech stocks, gold, or tulips), it is almost exactly the right time to sell since a market collapse is eminent. Maybe land in Florida will prove to be the first exception, but I would warn people to do a little reading before blinding trusting your assertion.

[CROSSHIGHWAYMAN]

The sheeple don't realize that housing prices will not appreciate at 6% a year forever.

Sorry, but you are wrong.

Last time I looked, nobody was making more land.

And the cheapseats have already been bought up.

And population pressure plus low interest rates will continue to drive up the price of housing at a slow but steady rate.

[ItisaReligionofPeace]

What happens when interest rates go up to 9%? There is an inverse relationship between interest rates and real estate. You are right, they aren't making more real estate, and in the long term the prices will increase, however, we live in the short term. Find out how it is when your house depreciates by 15% and you can't even find a buyer. It has happened numerous times in the last 50 years and it will happen again. Believe it or not.

[ItisaReligionofPeace]

Geez Summer, you are old enough to know better than this.

[Polybius]

Somehow getting in a fractional million dollar debt at compound interest that is much higher than the growth in real estate value is not equity building to me. I guess I just think funny...

That all depend on what you buy, where you buy, when you buy and how fast you pre-pay your mortgage.

I have two houses, one in California and one in Washington State, that are both fully paid for and are now both worth three times more than what I paid for them.

The people who live in my California house think the way you do and they are paying for my kid's future college education to the tune of $1,400.00 per month.