US Won’t be Nation of Renters

November 24, 2011 1 Comment

I read an article last week from Carla Hill, M.A., who works as the Managing Editor at the online publication, Realty Times, that describes the advantages of homeownership.  Her points were well presented so I thought I would share them here – - -

According to the National Association of Realtors®, (NAR) the U.S. will not become a nation of renters.

Currently, over 65 percent of Americans are homeowners, a rate that has held since the 1960s.  It’s no wonder why most Americans seek out a home of their own.

Homeownership has both financial and social benefits.  According to the most recent data from the Federal Reserve Board, a homeowner’s net worth is 45.9 times that of a renter’s.

“We knew that homeowners, on average, accumulate more wealth than renters,” said Ken Johnson, editor, Journal of Housing Research at Florida International University.  Johnson spoke at the session and conducted the analysis with Eli Beracha.  “These findings indicate that homeownership is a self-imposed savings plan.  Not everyone should own a home, but from a financial perspective, people who are planning to stay in a property over the long term can benefit from buying.”

This is no wonder why.  Despite recent declines in home prices, historically prices do rise over the long-term.  This means an owner is paying towards an asset.  They are building equity.  A renter, on the other hand, is paying for a living space for that month.  It is not money invested. Read more of this post

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Safety or Freedom – Pick One

August 25, 2009 Leave a comment

A couple of weeks ago, the Lancaster Community Safety Coalition started installing surveillance cameras at strategic locations throughout the city for the purpose of watching unscrupulous activity.  There was an uproar then, as there is today, about whether the cameras violate citizen’s privacy rights.  I stated at that time that although I’m concerned about the potential for abuse, I thought the benefits outweighed any downsides.  My rationale was that the cameras are watching PUBLIC spaces, not PRIVATE bedrooms.  When I walk downtown, I’m seen and watched be literally hundreds of people if I walk more than a block or two.  What’s the difference if there is one more set of eyes peering at me?

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Big Brother’s Watching You!

June 28, 2009 Leave a comment

Don't look now - you're being watched.

Image courtesy of Linda Johnson for the L.A. Times

When I read George Orwell‘s book “1984″ back in high school, I scoffed at some of the outlandish things that ‘Big Brother‘ was allowed to do.  Well it’s twenty-five years after Orwell’s fictional year and at least one of his predictions is coming true right here in Lancaster, PA.  Video cameras are being installed on the streets of Lancaster to keep an ever vigilant eye on it’s residents.  This story has caught the eyes of many cities across the country including Los Angeles, CA.  The L.A. Times published a story this past week on Lancaster’s very own eyes in the sky.

Lancaster, PA Keeps a Close Eye on Itself *

A vast and growing web of security cameras monitors the city of 55,000, operated by a private group of self-appointed gatekeepers.  There’s been surprisingly little outcry.

Reporting from Lancaster, Pa. — This historic town, where America’s founding fathers plotted during the Revolution and Milton Hershey later crafted his first chocolates, now boasts another distinction.

It may become the nation’s most closely watched small city.

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NIMBY’s Gone Wild

February 5, 2009 Leave a comment

 

Image courtesy of Flickr

Since I have been selling real estate, there have always been NIMBY’s (Not In My Back Yard) show up at planning commissions and protest against high-density developments based upon emotions gone wild instead of looking at the merits of the specific submission by the developer.  I am not naive enough to think that every proposed high-density development plan is manna from heaven.  There are definitely bad plans served up for our consumption.  But when a good plan is submitted and dismissed out of hand as the second coming of the devil, I feel I need to point out the fallacies of the NIMBY mantra.

Assumption #1:  Higher-density developments overburden public schools and other public services and require more infrastructure support systems.

The United States Census Bureau has determined that for every one hundred, single-family detached homes built, there are 64 school-aged children that live there.  Compare that number with 21 kids living in the same number of apartment units.  For some reason, people incorrectly assume that with an increase in housing units there is also an increase in the number of people who live in each unit.  In addition, by building more housing in a smaller area there is less need for lengthy water and sewer lines, expensive sidewalks and curbs, and linear feet of roadway.

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