Mar 26

Why location, location, location in real estate is ‘BS’

Location, real estate agent Marc Joseph learned firsthand, is not enough to substantiate buying a house. He lost $600,000 in Florida's 2005 housing bubble, and the way prices are climbing, he's worried the Sunshine State is veering toward another bust.

Economists know that lower income households most commonly refinance their mortgages and tap that equity when home values rise. But a new study from the National Bureau of Economic Research finds that when those households have extra cash on hand,…

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