Industry NewsMarkets & Economy

Small but ‘committed bunch’ reject homeownership

Future-Proof: Navigate Threats, Seize Opportunities at ICNY 2018 | Jan 22-26 at the Marriott Marquis, Times Square, New York

Editor's note: This story is republished with permission of AOL Real Estate. See the original story, "Housing Crisis Turns Some Ex-Homeowners Into Lifelong Renters." By TEKE WIGGINYou couldn't pay Mark Williams to own a home again."Give me the money for it," he said. "I'm still not buying a house."It's not that he always felt this way. Williams did profit handsomely from the housing market's boom years, selling a Sacramento, Calif., home in 2005 for more than twice as much as he purchased it for in 2001. He also bought, rehabbed and sold several homes with his friends."We literally flipped a crack house for a $40,000 profit before the first mortgage payment," he said.But after he lost his job as host of a political talk show in 2006, the conservative activist began to struggle to pay the mortgage on a McMansion that he moved into that same year in Lincoln, Calif. Three years later, Williams and his wife, Holly, filed for bankruptcy and sol...