mudflap81
Initiate Member
In the end, secret service Homer is still Homer.
Joined: Dec 22, 2010 18:58:30 GMT -5
Posts: 72
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Post by mudflap81 on Feb 3, 2011 12:46:12 GMT -5
You could also read that right now we have the third highest homeownership rates in almost 50 years.
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Deleted
Joined: May 6, 2024 21:16:26 GMT -5
Posts: 0
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Post by Deleted on Feb 5, 2011 20:36:05 GMT -5
You all can complain about people not being able to afford their houses, but the truth is they can't afford YOUR house. Everything is so stagnant right now. Other than companies buying houses to move employees (which isn't what it used to be), everyone is sort of STUCK. The prices and interest rates are great for other houses, but no one can unload their present houses.
I have seen so many of my colleagues put their houses on the market for a YEAR and not be able to sell them. Our part of the country wasn't as heavily hit as most, but nothing much is selling.
Upward mobility is important. But it isn't there right now. I am not suggesting that the government prop up housing, but I do think that most of us need to understand that unless you bought your house cheap years ago, you are going to take a loss if you try to sell right now. We NEED the younger buyers, but they aren't qualifying.
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formerexpat
Senior Member
Joined: Dec 18, 2010 12:09:05 GMT -5
Posts: 4,079
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Post by formerexpat on Feb 5, 2011 22:41:00 GMT -5
Amazing how much of a negative impact that an unqualified 5-6% can have on the market as a whole when they're allowed to get loans without being qualified, huh?[/size]
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stats45
Established Member
Joined: Dec 27, 2010 16:52:12 GMT -5
Posts: 415
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Post by stats45 on Feb 6, 2011 9:22:42 GMT -5
Southern, I think you make some good points. There was another thread about a family who wanted to move to a single family home from a townhome (even though I and many other posters thought they were not financially prepared), but there concerns about lifestyle seemed legitimate. Add in concerns about schools and safety, and there are strong pulls in that direction.
That said, I wonder how much the desire to own a home to maintain a certain lifestyle is because we subsidize home buying so much. Many other countries don't have high levels of home ownership (like Germany) and still have high income levels, great schools, a strong middle class, etc.
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