Home ownershipOwnership is the absolute right to use, enjoy, and dispose of property. You own it! and the Great Recession. A study reports that 79 percent of people view the housing market from a new viewpoint after the burst of the housing bubble. Jim Gillespie, CEO of Coldwell Banker is a guest. And as usual, providing personal finance advice, real estateReal Estate is land and anything permanently attached to it, such as buildings and improvements. advice and consumer advice on the Ilyce Glink Show May 20, 2012 on WSB Radio.
My show is all about real estate. It’s about homes: where you decide to sleep at night, raise your children and get involved in your community. Your home represents your present and you future and there’s nothing more important. This is the philosophy of my career.
We talk every week about things that are happening in the housing market and in the economy that affect you and your home. For example, we welcome Jim Gillespie, CEO of Coldwell Banker to the show to talk about a recent survey which indicated that 79 percent of Americans believe that the Great Recession has shifted their views on home ownership. That is an astounding figure and when you think about how much has changed in such a short time, it makes perfect sense:
- 27 percent of homeowners are underwater in their mortgageA Mortgage is a document granting a lien on a home in exchange for financing granted by a lender. The mortgage is the means by which the lender secures the loan and has the ability to foreclose on the home. loans.
- 14 million families are facing foreclosureForeclosure is the legal action taken to extinguish a home owner's right and interestInterest is money charged for the use of borrowed funds. Usually expressed as an interest rate, it is the percentage of the total loan charged annually for the use of the funds. in a property, so that the property can be sold in a foreclosure sale to satisfy a debt..
- Yet mortgage rates are conversely the lowest in recorded history.
79 percent of people now look at home ownership in a new light. But what’s even more imposing is another statistic from the study. A full 84 percent of those surveyed (so again, almost everybody) also stated that they once took home ownership for granted, a given that would happen during the course of their lives. The Great Recession has been a huge game changer for the housing market – maybe for good.
You can get more personal finance advice, real estate advice and consumer advice by listening to this radio show and by listening to my other radio shows. Simply download them to your phone or audio player. You can also read our articles on real estate, credit, and consumer advice articles as well.