Suzanne Baker and her siblings bought a foreclosed home in Atlanta two years ago, added a fourth bathroom, then waited for values to rebound before considering a sale. Now, she says, they’re ready to cash in.
Rob Braunstein said his search for a three-bedroom home on a quiet street in Needham, Massachusetts, is taking on more urgency as he watches mortgage rates tick higher. Every increase, he worries, shrinks his budget by boosting monthly payments, he said.
Tyl Pattisall’s timing couldn’t have been better. She and her husband bought a condominium in San Francisco three years ago when the market was depressed and sold it for a profit in June. Now she’s looking to buy again.
Anyone who remembers the collapse of Lehman Brothers Holdings Inc. little more than five years ago knows what a global financial disaster is. A U.S. government default, just weeks away if Congress fails to raise the debt ceiling as it now threatens to do, will be an economic calamity like none the world has ever seen.