Re:The Terrifying Reality of Long-Term Unemployment
by enraged_camel on Monday April 15, 2013 @08:01PM
(#5555324)
>>Mobility. When you need to exit a house and relocate, you can do so without waiting for a lease to expire.
Yeah, instead you need to find a buyer, which in most places is not an easy task, especially in a housing market flooded with cheap foreclosed homes. In addition, you have to hope that the house has not depreciated in value during your ownership - which can happen due to factors totally outside your control (such as foreclosures in your neighborhood).
In other words: if you need to move, don't count on having the ability to sell your house quickly and without loss.
-Mobility. When you need to exit a house and relocate, you can do so without waiting for a lease to expire. If you are in the right market, you can rent the first home out while you migrate, then sell it once the dust has settled.