Mary and George Walters are in their early 60s and have paid off the mortgage on their home-a half-acre oasis in the middle of a suburban sprawl of tract homes and strip malls. They have a productive garden and dozens of mature fruit trees, a backyard studio and kiln for George’s pottery making, and a [...]
Some people don’t consider their home as part of their wealth. They say, “Everyone has to live somewhere, right?” Yes, everyone has to live somewhere. But you can choose to be a renter or an owner-to pay a landlord or to invest in a home that can make you wealthy. A home is a place [...]
Not long ago, if you wanted to buy or sell a stock, you telephoned your broker to get a current price and to pass your instructions along to the firm’s traders. Oftentimes, the broker called you to suggest a trade. The broker’s commission was equal to around 2 percent of the value of the trade; [...]
The Robinsons and the Keenes tried to predict short-term changes in home prices and they guessed wrong. They should have been thinking about home dividends instead. Suppose that you live in one area for 60 years. And suppose that you change houses every 10 or 15 years. You marry and divorce. You have children and [...]
Michael Keene, a professor of economics, had been living with his family in university-subsidized faculty housing for several years. Then, in 2003, his university decided that it was someone else’s turn. The Keenes found the perfect house (just the right size, cute as could be, and close to work and their children’s schools). The owner [...]
Unlike the Keenes, the Robinsons owned a home in 2003- a house they bought years ago for $100,000. They watched with increasing joy as home prices went up and up and up. They took a beating when they bought dot-com stocks at their peak in the spring of 2000, but the rising value of their [...]
In the early 1970s, investors were in love with the Nifty Fifty-a small group of stocks so appealing that they should always be bought and never sold. Among these select few were IBM, Xerox, Disney, McDonald’s, Avon, and Polaroid. Each was a leader in its field, with a strong balance sheet and rapidly growing earnings. [...]
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