Quote

From a social point of view, it's beneficial that homeownership encourages commitment to a given town or city. But, from an economic point of view, it's good for people to be able to leave places where there's less work and move to places where there's more.

In the past, if a homeowner with a mortgage had a problem making the payment, often he'd get together with a lender and strike a deal, because foreclosures are very expensive to the lender and obviously not good for the homeowner and the community.

If you're going to live in the house make it your goal to just pay off your mortgage.

A neighborhood is a residential area that is changing for the worse.

Nothing is worse than a home that is too perfect and done. You have to live in it.

Frankly, people buying a home to let should not be squeezing out families who can't afford a home to buy.

I have been very happy with my homes, but homes really are no more than the people who live in them.

Foreclosure is to no one's benefit. I've heard estimates that mortgage investors lose 40 to 50 percent on their investment if it goes into foreclosure.

Many a family, in order to make a 'proper showing,' will commit itself for a larger and more expensive house than is needed, in an expensive neighborhood. Almost everyone would, it seems, like to keep up with the Joneses.

Many foreclosed homes are neglected or abandoned, as legal proceedings or other factors delay their resale. Deteriorating or vacant properties can, in turn, directly affect the quality of life in a neighborhood, for example, by leading to increases in vandalism or crime.