Renting vs. buying

Reuters provides an interesting discussion of the benefits of renting vs. buying one's residence. The article makes a strong case that renting is a better long term strategy. We may have to face the unpleasant reality that the bursting of the real estate bubble has permanently changed the way Americans think about real estate and home ownership.

Record gasoline prices

Associated Press reports that gasoline prices "have never been higher this time of the year." Even though rising gasoline prices are obvious to everyone who cares to notice, this news is particularly disturbing to those who are counting on a recovery in the real estate market. Do not expect a recovery in real estate while the economy is crippled by record gasoline prices (unless you are thinking about an increasing number of tenants due to continually rising foreclosures).