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Real Estate


Tom Kelly
Tom Kelly
The Real Estate Adviser
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April 19, 2007

The Real Estate Adviser: Long-term investors should look at homes

By TOM KELLY
Special to the Journal

Trying to sell a home in a neighborhood where nobody is buying can be an extremely trying time for a seller. Foreclosures are on the rise, fueled by subprime loans that never should have been made and over eager investors betting on dreams of continued double-digit appreciation. Sadly, we are now feeling the results of too much credit chasing poor or borderline borrowers.

Yet people who default on their homes still need a place to live and many of them are well meaning consumers who hold down decent jobs. While they have shown they are not able to pay the huge monthly payments that come with high-interest rate loans, they are capable of paying a fair monthly housing expense.


 
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