The ongoing housing crisis is hitting young homeowners the hardest. According to a new report by Zillow – nearly half of all home borrowers under the age of 40 are underwater on their mortgages. That’s twice the rate of older borrowers. It’s also the latest sign that lawmakers in Washington, DC aren’t doing nearly enough to help struggling homeowners and put an end to this housing crisis. Wall Street got bailed out and Main Street got sold out.
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Glad I didn't give in to wifey's pleas to buy a house in 07-08. We found a great deal renting and avoided the crisis. Our rent has actually gone down, since we take good care of our house and our landlord likes knowing that he doesn't have to worry about his investment.
ReplyDeleteSo long as sales are stagnant and rates are low, it's worth sitting on the sidelines. Even if you buy a bit up from the absolute bottom, you're still getting an awesome deal from a historical perspective.