Potential home buyers have a two-step decision process. First, they determine whether they can afford to make a purchase - does their income safely cover their mortgage payment? Then they determine whether owning is a better financial choice than renting - are the costs of owning a home lower than the cost of renting it?
Mark ZandiRelated topics
choice cost cover decision home income lower mortgage payment potential process purchase renting two-step costsRelated quotes
No man can be a good citizen unless he has a wage more than sufficient to cover the bare cost of living, and hours of labor short enough so after his day's work is done he will have time and energy to bear his share in the management of the community, to help in carrying the general load.
Theodore Roosevelt
We are citizens of an age, as well as of a State; and if it is held to be unseemly, or even inadmissible, for a man to cut himself off from the customs and manners of the circle in which he lives, why should it be less of a duty, in the choice of his activity, to submit his decision to the needs and the taste of his century?
Friedrich Schiller
The purchase of a bargain issue presupposes that the market's current appraisal is wrong, or at least that the buyer's idea of value is more likely to be right than the market's. In this process the investor sets his judgement against that of the market. To some this may seem arrogant or foolhardy.
Benjamin Graham
McKinsey and Company has a new study that shows that the persistent gap in academic achievement between children in the United States and their counterparts in other countries deprived the U. S. economy of as much as $2.3 trillion in economic output in 2008 alone. Can we imagine how much that academic gap has cost us in potential income?
Francis Escudero
