Here’s an interesting article about lease-to-own plans, which are becoming more popular in the currently down US real estate market. The article is fairly well-rounded with both advantages and disadvantages listed.
Archive for March, 2008
This article makes a very interesting (to me anyway) digression from it’s look at mortgages and foreclosures around Pittsburgh:
“The everyday working guy is not educated on this type of situation,” said Pauline Skeriotis, who was among a group of about 10 local Acorn clients who recently shared stories about their troubles. “You think you are educated and you’re really not.”
Why aren’t we edcating our people? I remember sitting in math class bored out of my mind and arguing with the teacher when they said we would need to know the crap they were teaching later on in life.
I was right and the teachers proably knew it. It doesn’t have to be this way for future generations though. Call it math and financial awareness. Include stuff like mortgages, interest rates, extra fees, etc. Why not?
Best-selling author Robert Kiyosaki wrote Rich Dad, Poor Dad and other books. Here’s what he said recently:
“If you have $10,000 cash, I would take $5,000 and buy silver either in an exchange-traded fund or coins and sit on the rest instead of keeping all of it in cash, because the purchasing power of silver will go up and cash will go down,” Robert Kiyosaki said in a recent interview.
“The real estate and stock market are having sales,” he said. “So, this is the time to look for bargains. Between 2004 and 2005 was the worst time for real estate and stocks.