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3 Tips on Florida’s New House Rules and the American Dream

State of the American Dream (2009-2011)

Is homeownership still part of today’s American Dream? A recent article in the Wall Street Journal shared some old school advice on buying a home in today’s economy, more along the lines of Depression Era thinkers versus Baby Boomer spenders.

1. Buy what you can afford without scrimping on other needs. If you need to save for retirement or college, save. Don’t think your Florida home is going to pay for them.

2. If you need to move in less that seven years, then rent, don’t buy. You will be hard pressed to break even on your Florida home unless you live in it for a long time.

3. Values could stay depressed for many years. The only way you can plan to build equity in your Florida home is to pay down the mortgage.

Whether buying or selling a Florida short sale or foreclosure or renting; make smart decisions in light of today’s economy. Today’s housing market is still unraveling.

Tags: florida foreclosure, Florida real estate, Real Estate, The Wall Street Journal

6 responses to “3 Tips on Florida’s New House Rules and the American Dream”

  1. Jamal Hack says:

    This is the best advise I have heard in a long time. Only this morning I was thinking ; if I had to make a statement on this subject , What would it b. My statement is “Do not try to aquire anything if you do not have the DARN MONEY in your pocket” The saying of Eat Little and live Long will never become outdated”

  2. Jamal Hack says:

    This is the best advise I have heard in a long time. Only this morning I was thinking ; if I had to make a statement on this subject , What would it b. My statement is “Do not try to aquire anything if you do not have the DARN MONEY in your pocket” The saying of Eat Little and live Long will never become outdated”

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  5. […] leaned toward favoring home ownership as part of the classic U.S. lifestyle.  But there could be new rules for the American Dream in the […]

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