[TSgt]

WHY DO PEOPLE RENT?

I just don't understand why people rent? Unless you are starting out or starting over I don't understand why people don't invest in real estate. Once it's paid off you can't be evicted as long as you pay your property taxes.

Especially at his age?

Clue me in please?

[JohnGalt]

Everything about this article is a lie. I'd be surprised if the guy even exists.

Ah yes, and welcome to Boston liberal columnists.

[the gillman@blacklagoon.com]

North Easton is a pricey town. Probably can't buy anything with only 65k a year. I don't know how he lived in that area when he was working. 65k is peanuts. I'd bet property taxes are at least twenty bucks or more per thousand with an average little house being over a quarter mil. So just RE taxes would be 5 grand.

I don't know how or why anyone still lives in MA.

[mdmathis6]

"Once it's paid off you can't be evicted as long as you pay your property taxes."

In that case, one still is renting!

[SamAdams76]

It certainly seems like this guy has made a lot of bad financial decisions over the years. Had he had a little financial sense, his situation would be mitigated to the extent where he would be likely have the option to retire comfortably rather than being forced to hit the streets looking for a job.

Renting a four-bedroom home at his age for $2,000 a month (for just him and his wife) is just insane, even if he still had his $62,000 a year job. After taxes, that rent would suck up half his income! No wonder he didn't have anything saved up. My father also lived in the Boston area and he never made more than $40,000 in his life yet he was still able to retire at age 62 just a few years ago. He bought a house in 1968 with a mortgage of $151 a month (which seemed like a lot back then). He paid the house off and sold it upon retirement whereupon he bought a place for cash down in Alabama where he never has to worry again.

This should be a lesson for younger people to make some sound decisions today so that they never had to end up like "that guy." Get out of debt. Buy a home. Live below your means and invest/save the difference. Do it today. It's not too late!

[GovernmentShrinker]

The guy needs professional psychological help. No financial institution in the world is going to hire a 62 year old who never had enough sense to buy a home and prepare for retirement. Personally, I think it was despicable of the Wall Street Journal to publicize this guy's with his obvious mental problems, on the front page last week -- now the Boston Herald is following suit. Without all this publicity, and with some counseling, he might have managed to find some kind of employment in his lifelong field, but now EVERY potential employer knows exactly what a financial wacko this poor fellow is.

[Centurion2000]

Once it's paid off you can't be evicted as long as you pay your property taxes.

EXACTLY .... some people see that as rent.