Looks like the housing market is looking up….NOT. Housing prices are not recovering. This is horrible. Properties were once one of the best ways to get rich in America but this is not true anymore. According to a lot of articles that are coming out this week, the house is not your biggest asset anymore. You can be better off renting, at least you will be recession proof, or at least your net worth will not take a serious hit if your value of your property takes a hit. Mortgages are crazy these days. The interest rates have started to come up but the housing prices are not. How can people win in an economy like this? Bad credit mortgages can help you do that.

I think it will be easier to just move back in with your parents if you don’t have money to pay for your mortgage. Move in with the entire family, take your wife kids and second car back to mom. Save a lot of money that way by sharing in the utilities, sharing in the space, and paying no mortgage at all. More money for grand family vacations to Europe.

Seriously, if you don’t have work or are trying to find work or don’t think you’ll have any work in the near future, it will be crazy to keep an expensive mortgage. If you lose your job, you don’t have any protection at all and you could lose your house and the money that you already put into it. With housing prices totally depressed, you will lose money on the deal and will probably get no money back. Scary proposition right? Well, that’s the reality of the world these days, folks.

Related posts:

1. Housing Market Predictions

2. Should We Be More Optimistic About Housing?

3. Home Mortgage Rant

4. Housing failure continues

5. Downturn in home prices