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Old 07-28-2015, 09:56 AM
 
Location: Tennessee
30,522 posts, read 23,921,521 times
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The credit standards to get a mortgage are still fairly tight, and with people clustering in urban areas where rates of appreciation are making it difficult for the common person to afford a mortgage, I think this is a sad development for the American dream.

Home ownership rates drop to 63.4%, lowest since 1967
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Old 07-28-2015, 10:33 AM
 
Location: Omaha, Nebraska
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I think a lot of people are also deliberately avoiding home ownership in order to stay as mobile as possible; it's a survival strategy that suits the current unstable job market pretty well.
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Old 07-28-2015, 10:41 AM
 
Location: Metro Detroit, Michigan
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We're becoming a nation of renters... So long as people can pay the rent, nobody seems to mind.
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Old 07-28-2015, 10:45 AM
 
23,016 posts, read 17,096,111 times
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Quote:
Originally Posted by Serious Conversation View Post
The credit standards to get a mortgage are still fairly tight, and with people clustering in urban areas where rates of appreciation are making it difficult for the common person to afford a mortgage, I think this is a sad development for the American dream.

Home ownership rates drop to 63.4%, lowest since 1967


How tight are standards really? It's not terribly difficult to get qualified for a mortgage
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Old 07-28-2015, 10:49 AM
 
14,790 posts, read 20,956,028 times
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It is. Ton of paperwork, cross income checks, proofs of income. Limitations imposed on what you can buy. We shopped for a new property for about year and a half (no more, we stopped entertaining the idea as ridiculous) and made several offers. As the result, I found that even for a very well qualified buyers, there's a lot of this and that that was not there before.
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Old 07-28-2015, 10:59 AM
 
1,820 posts, read 1,463,452 times
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Quote:
Originally Posted by Aredhel View Post
I think a lot of people are also deliberately avoiding home ownership in order to stay as mobile as possible; it's a survival strategy that suits the current unstable job market pretty well.
Everything that has happened since January 20, 2001, has gone to undermine the security of the individual, making it less and less likely that typical people can or will assume and hence bet on a notion that there will ever again be a stable, secure future for them. All of that has been wrapped up and reserved for very small slices at the top of the wealth and income tables. Cool for them and catch-as-catch-can for everybody else.
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Old 07-28-2015, 10:59 AM
 
Location: Paranoid State
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I don't bother with a mortgage on any of my properties -- personal, vacation, investment.
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Old 07-28-2015, 10:59 AM
 
24,839 posts, read 34,964,121 times
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Quote:
Originally Posted by ukrkoz View Post
It is. Ton of paperwork, cross income checks, proofs of income. Limitations imposed on what you can buy. We shopped for a new property for about year and a half (no more, we stopped entertaining the idea as ridiculous) and made several offers. As the result, I found that even for a very well qualified buyers, there's a lot of this and that that was not there before.
I know it is hard.........and time consuming.........but, just think back about 8/10 years when the government thought everyone should own a home.

It made a real mess............I made a lot of money from it.........but, still do not think it was good.
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Old 07-28-2015, 11:00 AM
 
24,839 posts, read 34,964,121 times
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Originally Posted by SportyandMisty View Post
I don't bother with a mortgage on any of my properties -- personal, vacation, investment.
Neither do we.
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Old 07-28-2015, 11:01 AM
 
1,820 posts, read 1,463,452 times
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Originally Posted by SportyandMisty View Post
I don't bother with a mortgage on any of my properties -- personal, vacation, investment.
Don't understand leverage?
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