« prev   random   next »

2
0

Affordable housing: Middle class pushed to fringe

By John Bailo follow John Bailo   2014 Mar 25, 11:28am 1,579 views   7 comments         share      


Crappy inventory.

High prices.

Even those with jobs can get a house.

Even saving $1,000 a month, it would take just more than 4 years to come up with the down payment, and that assumes little or no change to interest rates and home prices.

“This is the dilemma most people face,” Pettigrew said. “It’s a bit of a crisis because rental rates are so high it precludes people from saving.”

Lenders say there are plenty of mortgages that don’t require 20 percent down.

http://www.coloradoan.com/article/20140324/NEWS01/303240046/Affordable-housing-Middle-class-pushed-to-fringe

But isn't that what it's all about. A Centralized State doesn't want savings, any more than it wants small independent businesses, or self-reliance. It needs to sell dependence to gain power.

#housing

1   bubblesitter   2014 Mar 25, 3:18pm  

But,but, the middle class will never get it - keeping up with Joneses.

2   Heraclitusstudent   2014 Mar 25, 3:31pm  

bubblesitter says

But,but, the middle class will never get it - keeping up with Joneses.

Provided they under-build enough, what is the alternative?

It's your money or your life.

I'm sick of reading comments about "upbeat U.S. data" when housing prices are up.

Somebody is paying for this crap. Some people are living 3 in 1 bedroom so they can gloat about upbeat data. A large chunk of the population have their quality of life ruined so they can announce "upbeat data".

Not to mention the only possible goal is to get people to spend money they shouldn't be spending.

The whole scheme is just plain evil.

3   JH   2014 Mar 25, 3:32pm  

Ya it sucks but rent a cheaper, smaller house if you want to save.

4   ad   2014 Mar 25, 6:55pm  

Heraclitusstudent says

Somebody is paying for this crap. Some people are living 3 in 1 bedroom so they can gloat about upbeat data. A large chunk of the population have their quality of life ruined so they can announce "upbeat data".

I agree. There has been no real income growth for the bottom 80% due largely to globalization and automation. That is what is driving those to live "3 in 1 bedroom".

The top 20% benefit own stocks in corporations which leverage globalization and automation to maximize profits.

5   bubblesitter   2014 Mar 26, 12:18am  

Heraclitusstudent says

Somebody is paying for this crap.

Well, who is telling this middle class folks to over extend? Demographics of USA has changed heavily in last 30 years. Asians and Indians alike have made this market go bonkers, they think it is OK to pay any price for RE at any time.

Heraclitusstudent says

A large chunk of the population have their quality of life ruined so they can announce "upbeat data".

See, the thing is if you are ready to pay most of your paycheck toward mortgage+taxes, I think life becomes miserable, just like living in a third world country.

6   Heraclitusstudent   2014 Mar 26, 4:33am  

bubblesitter says

Well, who is telling this middle class folks to over extend?

There is a basic reason why prices are high: some places like California are chronically underbuilt.

Thus it doesn't matter what people choose: if they were not over extending, they would pay a super high rent.

Of course they can still choose to go to Detroit. But not really a good option.

7   Ceffer   2014 Mar 26, 4:37am  

Detroit is the epicenter of the New American Order: i.e. the Somali-ization and third world-ization of the USA.

Why do they hate the wave of the future?

Please register to comment:

about   best comments   contact   one year ago   suggestions