Header Image for Print

Is Housing Becoming Unaffordable Again?

2 posts / 0 new
Last post
travelraters
Offline
Last seen: 6 years 1 month ago
Joined: 01/23/2014 - 22:50
Is Housing Becoming Unaffordable Again?

The last year has seen real estate prices move up a lot. Some communities such as the San Francisco Bay area have seen 25%+ home price appreciation. While this msy be good in general, it seems first time home buyers are having more difficulty coming up with down payments and qualifying for loans.
Is homeownership once again out of reach for many? What is going on with our economy...

ljadrich
Offline
Last seen: 6 years 1 month ago
Joined: 01/24/2014 - 17:53
I agree. We just refinanced a
I agree. We just refinanced a piece of commercial property and the appraisal was low probably because the banking institution did not want to let out all the equity back out to us. Not only have banking restrictions gone crazy in regards to newbies qualifying for loans, the down payment amounts have increased to 20%. How can a young person first qualify and the n secondly come up with 20% down on even a $100,000 house which we all know is going to be pretty much dump of a house? I don't know about you but coming up with $20.000 in todays economy is hard for me.

Disclaimer : All messages made available as part of this forum, including opinions, advice, statements or other information contained in any messages posted or transmitted by any third party are the responsibility of the author of that message and do not necessarily reflect the views and policies of HUD or the U.S. Government. HUD cannot attest to the accuracy, completeness or usefulness of any messages. This is a monitored forum; posts are subject to approval.

randomness