Life after losing your home
http://money.cnn.com/2008/07/10/news/economy/rios/index.htm?postversion=2008071014
This article is the perfect follow-up to my previous post. This is an example of someone who should have never bought a house in the first place. Not that she doesn't deserve a home, she just is not in a situation to afford to buy a house. Realistically, there is no difference between what she was doing and renting the equivalent home. The transaction costs and ownership costs are just too great a burden on the average family living on tight salaries. A home is what you make of it, not whether you carry a title with a banks name on it.
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