September 5, 2012

Rebutting the Housing Bears (Cont.)

The Ultimate Reality Test?  Reality “And yet, it moves.” –What Galileo Galilei supposedly murmured on his death-bed, after being forced by the Church to recant his belief that the earth moves around the sun. What is the ultimate rebuttal to housing bears, who maintain that the housing market isn’t going up, but even if it is,...
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“Can I Donate My Underwater House to a Non-Profit (i.e., Charity)?”

That’s the question I fielded the other week from a client on behalf of their friend, who was leaving town imminently, and was (deeply) underwater on their North Minneapolis home. The short answer:  ‘no.’ The more detailed answer:  “no, for about 18 different reasons,” starting with the fact that what the underwater homeowner is essentially “donating” is a...
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