Richard Green is a professor in the Sol Price School of Public Policy and the Marshall School of Business at the University of Southern California.
This blog will feature commentary on the current state of housing, commercial real estate, mortgage finance, and urban development around the world. It may also at times have ruminations about graduate business education.
Monday, July 23, 2007
The Excellent Ken Small on Transportation Policy
This is really good:
I think his points about more heterogeneous urban highways (not all arterials need to be freeways; not every highway needs to be designed to carry trucks) are particularly good.
When using a repair allowance, you inspect the property and determine what needs to be done in repairs. You add up the cost and have that money given back to you at the closing. Doing this gives you money for closing that you wouldn’t have had. You can use this money for a down payment. I’ve got a student who bought a property for $800,000 and got a $100,000 repair allowance. Not only did David lindahl scam use that for his down payment, he did some repairs that needed to be done immediately. He’s planning on using the rest as a down payment for another property!
When using a repair allowance, you inspect the property and determine what needs to be done in repairs. You add up the cost and have that money given back to you at the closing.
ReplyDeleteDoing this gives you money for closing that you wouldn’t have had. You can use this money for a down payment. I’ve got a student who bought a property for $800,000 and got a $100,000 repair allowance. Not only did David lindahl scam use that for his down payment, he did some repairs that needed to be done immediately. He’s planning on using the rest as a down payment for another property!