I always laugh when I hear real estate agents say that the costs of owning a home are usually little more than the costs of renting. From personal experience I can tell you that is nonsense.
The cost of owning a house includes far more than your monthly mortgage. There are utility bills, which are always rising. There are maintenance costs, which tend to pop up at the worst possible times. And don’t forget property taxes, which, I can bet, you will never see go down during the years you own your home.
A recent study by HUD showed that from 1985 …read more

Reis, a real estate research firm, said that the average apartment rent across the country rose 1.1 percent in the second quarter of this year to $994 a month.

According to the National Association of Realtors the housing slump is causing fewer people to purchase second homes. And that is causing an interesting side effect: As the number of unsold vacation homes on the market continues to rise, their owners — who can’t unload them as quickly or for as high a price as they once could — are competing harder than ever to find renters.

According to this story by Financial Week writer Frank Byrt, retail vacancies are at a 12-year high. Office vacancy rates are beginning to rise, too.

It’s hard to find anything positive to say about the residential real estate market. That’s not the case, though, with the commercial and multi-family side of the real estate industry.

Recently, though, the Times wrote a funny little story about the terraces outside those towering apartment buildings dotting the city. Seems some people love their terraces, while others … don’t.

Finding the right roommate is no easy task. You know this if you’ve ever had to suffer through a roomie who leaves the sink cluttered with dirty dishes or likes blaring rock music at 2 in the morning.

According to the story, originally written by Thomas Sheeran for the Associated Press, police arrested one homeless man on a code violation for living in a foreclosed home without water in Manteca, Calif. Police arrested another man in Cape Coral, Fla., according to the story, who had been living in a foreclosed home since helping his friend move out of the same residence several weeks earlier.

No-money-down loans are disappearing. A greater number of mortgage lenders are once again requiring that borrowers come up with a downpayment of at least 5 percent of their home’s sales price.

Forbes Magazine, one publication that truly loves its lists, recently released another one guaranteed to get people talking. This one highlights the 10 most expensive cities for renters.