Has Homeownership Lost Its Luster?

Real estate, home ownershipMeredith Carr and Vince Melamed of Brentwood are just the sort of couple real estate agents have always counted on to buy a home.

Melamed is a successful keyboardist and songwriter who wrote hits including Trisha Yearwood’s “Walkaway Joe,” and Carr is a freelance editor. They owned a home in Nashville, but when they moved to Los Angeles last year they decided they did not want to tie up their money in real estate, or be on the hook for home repairs and upkeep.

“I never want to let the mortgage stand in the way of a business decision,” Melamed said. “I don’t want to be in a position where I want to buy a piece of equipment but I can’t because all my money is tied up in the house.”

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Full Story from the LA Times

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