Florida Virtual Houses

Your apartment rent too high? Why not live in a closet.

Continue Reading Add comment June 11th, 2009

I’m never going to complain about the size of my Manhattan apartment again. A man in Delray Beach, Fla. is renting out a closet above a restaurant for $150 a month, according to WLBZ 2 in Maine.

He furnished the 77-square-foot space for about $64 and equipped it with a microwave oven and mini refrigerator. He shares a bathroom with other renters in the building.

(Thanks to NPR’s Planet Money for pointing me to this site.)

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Stopping foreclosures may NOT be good for the economy

Continue Reading Add comment June 11th, 2009

I like this piece by Matthew Padilla, who writes the OC Register’s Mortgage Insider blog. He quotes two economists who say that stopping foreclosures is not necessarily a good thing for the economy. Christopher Thornberg of Beacon Economics in Los Angeles tells Padilla that “foreclosures are good for the economy.” How? People who stop paying unaffordable mortgages and lose their homes suddenly have more money to spend on non-housing goods and services. Not such a bad thing, right?

Hat tip to patrick.net.

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