I wish I’d read this WSJ story three years ago, when I was cluelessly trying to appeal the tax assessment on our old house. The companies that towns hire to do assessments do quick, rudimentary work, which is why homes that are really worth about the same on the open market can be appraised at vastly different values—and therefore the …
No One Said Homeownership Was Easy, or That It’d Make You Happy
A study conducted by a Wharton professor—whose research was all conducted well before the recession and the housing crash—shows that despite all the hoopla about the white-picket-fence American dream of owning a house, homeowners are no happier than renters. Whatever joy homeowners derive from their properties is offset by …
Cheapskate Wisdom from … Donald Trump
“Sometimes your best investments are the ones you don’t make.”
The difference between not firing and hiring
Yesterday we got word that the Fed now expects the U.S. unemployment rate to hit between 9.8% and 10.1% by the end of the year before starting to decline in 2010. In April, the Fed thought we’d top out between 9.2% and 9.6%. No cause for celebration there.
But then this morning we received a glimmer of hope from the Department of
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Home Buyers: Purchase What You Need, No More
This advice is probably a little late for owners of the 1.5 million homes in foreclosure, but a WSJ story succinctly tells the big reason anyone should become a homeowner—because it saves money compared to renting, not because it’s going to make anyone rich. Many speculators are learning that buying a property you cannot afford will do …
A day for self-promotion
First, Justin is about to take the mic at the Diane Rehm Show. You can listen live here.
Second, the WSJ has named the Curious Capitalist one of the Top 25 Economics Blogs. I think that has a wee bit more to do with Justin than it has to do with me, but since I’m the one manning the fort today, I’ll step up and say thank you. We are …
Foreclosure Watch: At Some Point, Is It Smarter to Walk Away from Your Mortgage?
The news is making the rounds that in the first half of 2009, 1.53 million properties in the U.S. were in the foreclosure process. That’s up 15 percent companred to the previous year. The figures are certainly the result of the rise in unemployment and slow, confusing relief efforts from the government and lenders. It’s also likely that …
It’s a Deal: Two-for-One Iced Beverages at Peet’s Coffee
Peet’s Coffee & Tea, which has stores throughout the West and a few in other parts of the country, is giving away one iced beverage with the purchase of an iced beverage. A coupon is required, and you can print it out here. Valid only through Friday, July 17.
As Steak House Business Suffers, the Chef at Home Smiles
For years, high-end steak houses have held a monopoly on the best beef. Restaurants had first dibs on USDA prime beef, and whatever they didn’t scoop up was secured by gourmet stores and specialty butchers. But now that restaurant goers are forsaking their $50 steak dinners for meals around the family dinner table, steak houses just …
The glories of a little bit of inflation
The consumer price index jumped 0.7% (seasonally adjusted) in June, the biggest monthly rise since last summer. Most of the gain came from rising gasoline prices: the CPI excluding food energy (what they call core inflation) was up only 0.2%. And prices overall are still down 1.4% from a year ago. This ain’t no inflationary spiral. But …
It’s a Deal: Free Breakfast, Half Off at IKEA
This weekend (July 18 and 19), IKEA is hosting a “Seize the Days” sale, in which certain wood furniture is being discounted by 50 percent, and in which one free breakfast per customer is being awarded. Print a coupon and see more details here.
Small Car of Your Future? Small Home of Your Future?
One thing the recession has made clear: Living large is totally not necessary. The waste and added expenses of huge cars and enormous homes seem silly right about now. For many people, downscaling may literally mean shrinking the size of those two mainstays, cars and homes.