I admit that my statement yesterday that “ethics and morals should not even enter the conversation” was a bit of intentional editorial hyperbole intended to spur the discussion. Obviously it does make sense to have a conversation about the ethics of walking away, since that’s exactly what we did for 177 comments (so far). As…
Category: Features
On Misguided Ethics and Walking Away from a Mortgage
With the subject of “walking away” finally hitting the mainstream media in full force this weekend with a dedicated segment on Sunday’s 60 Minutes, it would appear that the idea of giving the keys back to the bank to get out of a financial death spiral continues to gain some serious traction. Of course, even…
“Tax Savings” Far Overshadowed by Interest Paid
This weekend Seattle Bubble favorite Steve Tytler fielded a question from a very confused homeowner in his real estate Q&A column in the Everett Herald. Couple’s dilemma: To rent out house or sell Here is a portion of the owner’s question. We were given a house valued at $250,000, which is paid for. We have…
Friday Flashback: “The Traditional Advice is Outdated”
Here’s a flashback from February 2007, just four months before prices peaked around Seattle, then tumbled 25% in two and a half years (so far). The Everett Herald brought us “Mr. Nest Egg,” who declared that “the traditional advice is outdated” and the best way to save for retirement is… You guessed it, buy real…
Cheapest Homes: May Edition
Let’s check in again on the cheapest homes around Seattle proper. Here’s our methodology: I search the listings for the cheapest homes currently on the market, excluding short sales, in the city of Seattle proper. Any properties that are in obvious states of extreme disrepair based on listing photos and descriptions will be excluded. This…