House Poor: Pumped-Up Prices, Rising Rates, and Mortgages on Steroids
Skyrocketing home values, cheap money, and enticing home equity offers in recent years ... millions of us took on bigger mortgages, bigger houses, ... Show synopsis Skyrocketing home values, cheap money, and enticing home equity offers in recent years ... millions of us took on bigger mortgages, bigger houses, and bigger debt. But disturbing signs point to the end of the housing bubble: Home sales and starts are at all-time record highs; In some markets, prices have ballooned by over 100% in the past few years; Interest rates are rising, while consumer debt stands at a record 110% of disposable income; In some cities, real estate investors are creating "vulture capital" funds to buy condos cheaply when the market collapses. This indispensable survival guide will address questions that include: Should I take equity out of my house in these uncertain times? If the U.S. market tanks, how can I sell to foreign investors? How can I tell when my hometown is likely to boom or bust? Is it too late to buy as a first-time home-owner? How about as an investor? What are the best tips to protect my home investment? What are the best tips to increase my investment? Should I just get out of the market now while prices are still hot? Where are America's most vulnerable housing markets? Today's real estate developments could make you house poor, but this is the book to keep you house proud.