With the market looking up, there’s a lot of advice coming from various sectors about home buying. The New York Times’ Carl Richards, a renter, confesses to a moment of panic when he read economist Felix Salmon’s tweet quoting John Paulson: “if you rent, buy. If you own, buy a second home.”
Guess who else felt that panic? Half the people at Property and its parent company.
But as Richards points out, there’s little mystery to figuring out if you are in a good position to make the move. In fact, two of them are must-knows.
1. Can you get a loan? If the answer is NO, your panic has ended!
2. Do you plan to live in the home for at least five years? If the answer is NO, your panic has ended!
For more shades of gray, hit Richards’ piece here.
As for local shenanigans…
• Ocean City, NJ, is feeling “dissed” by its exclusion from Budget Travel’s list of 19 “Awesome Boardwalks.” In our area, Wildwood, AC, Point Pleasant and Rehoboth made showings instead.
• Speaking of the Shore, the most salacious renderings any architect has blushed at are in, and they’re for the $25 million Scores strip club at Trump Taj Mahal. Panties and pasties will be required.
• And in more of the Shore, Snooki is being “dissed” by residents of Berkeley Township, who don’t want her to film a new season of “Snooki and JWoww” there. Enough female-named drama has been suffered this year.