John Mulkey, Housing Guru

After more than a year of the Great Recession, many are pointing fingers at politicians, bankers, Wall Street tycoons, lobbyists, and at their neighbors for making financially irresponsible decisions. And what have we gained? Little of consequence.   Many seem to believe the problem doesn’t lie w...

If you plan on buying a resale home, the considerations are much the same as in purchasing new, with a few additional items to check. Resales encompass the greatest number of homes on the market. Their numbers include everything from a one or two-year old production home to a two-hundred year old...

Is a condominium the right choice for you? Condominiums, or condos as most refer to them, homes that are located within a development area, and which are usually attached by common walls, offer both affordable housing and a carefree lifestyle. Such homes provide a form of ownership where you own ...

Do you have a stable income but wonder if you can afford the home your want? It may be helpful to do a quick calculation that can help you determine the price range that fits your financial situation. GROSS MONTHLY INCOME                                                         ________ SUBTRACT L...

A way to take immediate possession of a home while spending little or no money up front is with a lease-purchase. Some sellers, particularly those whose need for immediate cash is not urgent, are willing to offer their homes on such a basis. In those cases buyers usually make a small down payment...

Critics of FHA are predicting the government mortgage giant could be next in line for a bailout, an article in today’s New York Times details. With the FHA recently assuming a significantly larger percentage of all mortgages—it now insures 23% of the nation’s mortgages versus only 2% in 2006—the ...

A recent report issued by a real estate expert at the Atlanta Fed expresses concern over rising commercial loan defaults. With vacancies in apartments at a 23 year high, strip malls vacancies the highest in 17 years and with rising problems in office rentals, hotels, warehouses, and other commerc...

Behind on your mortgage, underwater and thinking about a short sale for your home? Short sellers beware—your lender may lie. According to recent reports, almost 8% of all home mortgages are now at least 30 days past due; and with more than a million owners who haven’t made a payment in more than ...

With almost half of all Americans owing no Federal Income Tax in 2009, who will remain to pick up the tab for our government’s unbridled spending? For politicians a trillion has now become the new billion. And amazingly, the number not paying tax isn’t shrinking; it’s growing rapidly. About a qua...

For the eighth consecutive month, year over year job losses have increased in all 372 U.S. metropolitan areas, and many are concerned about the effect of unemployment upon housing for 2010. How do job losses relate to the recovery and, more importantly, to the coming year? As a lagging indicator,...