If you don’t have a job, you can’t afford a home.
Families now need two solid incomes and a PLAN to become home owners.
A few thoughts:
1) Housing demand (and cost) will drop when we have stopped govt subsidizing of millions of illegal aliens and sent them packing.
2) While I abhor ‘low cost housing’ forced into all new construction, you people starting out need to set their sights on starter homes. Too many think they can step right into a mansion they cant afford and dont need.
3) Interest rates go up and down. You cant time the market if you want to get invested in a home. You buy in to what you can afford as soon as you can afford it. If rates go up, you win. If rates go down, you refinance and win. But you keep building equity all the while. The sooner you can start this the sooner its paid off, or the more equity you have going into your next home purchase.
True.
Sometimes people ask, why do so many mothers work? Why aren’t there more stay at home moms nowadays?
A key answer is that it takes two incomes to pay the mortgage on a house, which our parents and grandparents could afford on one income.