Ashlee Simpson Chooses to Lease Instead of Buy
Ashlee Simpson is best known for being the kid sister of Jessica Simpson; however, she has started to stand on her own since the release of her album Autobiography in 2004. Like her sister Jessica, Ashlee also enjoyed her time in the spotlight with a reality television show, The Ashlee Simpson Show. Surely, the similarities end there? Absolutely not!
Jessica Simpson and Nick Lachey’s divorce was no surprise to the public, especially giving their up and down relationship on their show The Newlyweds: Nick and Jessica. However, now Ashlee Simpson and musician Pete Wentz are facing a divorce themselves after a short-lived marriage that included a new son for them both.
Along with a sour marriage and questionable talent with her singing career, Ashlee has been known to dabble in the real estate market, including her June 2011 sale of her Oak Pass Road home for $3.4 million. However, the pop star is now leasing, like many Americans, as opposed to buying. Simpson is currently renting a home in Beverly Hills and is living 90210-style as she works on a new record.
Why is Ashlee Simpson, like many Americans, deciding to rent as opposed to buying? Nobody knows the answer to the question; however, it is definitely a horrible decision.
The current real estate market contains a plethora of opportunities with the increase in foreclosures and therefore reduced home prices. It is undeniably a buyers’ market in which owning a home is less expensive than renting! Rental rates are increasing as a demanding for rental units is increasing; therefore, mortgage payments (including taxes and insurance) can often be made for less than the price of renting. Why, if given the choice, most people would choose to rent as opposed to buy is beyond logical.
Ashlee is showing that real estate may not be the best side job for her, especially with her recent decision to rent a home instead of purchase a great property at a once-in-a-lifetime value. I would say she needs to stick to the singing business; however, I am still unsure of how she continues to sell records with the lack of real talent.
In the end, Ashlee Simpson sells her home after her divorce and decides to rent as opposed to buy - a decision she will surely be kicking herself for when the housing market returns and she is then left paying significantly more for the same property.