The number of middle-class Americans who can afford home ownership is falling in more cities, according to a new industry study.
The report from real estate research firm Trulia concludes that in 20 of the top 100 largest metro area, the middle class are now frozen out of the home buying market.
Trulia considers a home affordable for a median income buyer in a given market if total monthly costs — including mortgage, insurance and property taxes — after a 20 percent down payment are less than 31 percent of a region's median household income.
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4 comments:
Trying to sell our home has been a seemingly long wait. I have tried to do everything possible but nothing. Talked to realtor(s) and housing advisors and tons of people but if there is nothing out there it can't be brought in. Best of luck to everyone (and that is all of us directly or indirectly) looking and selling
This is by design so the rich buddies that the democrats cater to can only buy the houses and turn them into rentals.
Why would you want one. The materials they are built with are crap, the quality of construction is crap, and the average smuck hasnt got a clue. You buy one and its like a car it starts to depreciate as soon as they give you the keys. The house used to be a home, now its a weight around ones neck. Rent and let someone else have all the worries and all the premature breakdowns that you will most defenitly have. Its all junk.
12:34 you are correct.
Most of the new construction out there are just plywood and, 2 by 4's and insulation with siding. Wouldn't take much to destroy it. A hurricane or major storm is all that is needed. When i bought my new home in 1990 I was told the life of the house was just 70 years. I've had to replace the floorboard, and re panel the attic as well has replace the roof. Your better off to hire a contractor you can trust and have it built the way you want.
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