Homeownership rate drops to 63.4%, lowest since 1967

[ChrisL]

Houses around my area are out of reach unless you are a wealthy person. They cost too much and we don't make enough money to pay for them. Not to mention repairs and maintenance. I see more and more people renting in the future. They've made it almost impossible for a regular person to be a homeowner in today's America.

It's rather easy to be a home owner in America. I've never had a problem. Some of it is just a matter of where you live.

Actually, I was wrong. It's even more . . .

1. The median home value in Massachusetts is $324,100. Massachusetts home values have gone up 0.3% over the past year and Zillow predicts they will fall -0.5% within the next year. The median rent price in Massachusetts is $2,300.

 

[ChrisL]

^^^

I don't pay that much for rent. I pay around 1100 a month.

 

[Dont Taz Me Bro]

Houses around my area are out of reach unless you are a wealthy person. They cost too much and we don't make enough money to pay for them. Not to mention repairs and maintenance. I see more and more people renting in the future. They've made it almost impossible for a regular person to be a homeowner in today's America.

It's rather easy to be a home owner in America. I've never had a problem. Some of it is just a matter of where you live.

Actually, I was wrong. It's even more . . .

1. The median home value in Massachusetts is $324,100. Massachusetts home values have gone up 0.3% over the past year and Zillow predicts they will fall -0.5% within the next year. The median rent price in Massachusetts is $2,300.

Well, that's your problem. You're in Massachusetts. I grew up in Boston. I never owned a house until I had moved to South Carolina and I only paid $120,000 for a two bedroom two bath condo that was way nicer than any place I had ever rented back in MA.

 

[ChrisL]

Houses around my area are out of reach unless you are a wealthy person. They cost too much and we don't make enough money to pay for them. Not to mention repairs and maintenance. I see more and more people renting in the future. They've made it almost impossible for a regular person to be a homeowner in today's America.

It's rather easy to be a home owner in America. I've never had a problem. Some of it is just a matter of where you live.

Actually, I was wrong. It's even more . . .

1. The median home value in Massachusetts is $324,100. Massachusetts home values have gone up 0.3% over the past year and Zillow predicts they will fall -0.5% within the next year. The median rent price in Massachusetts is $2,300.

Well, that's your problem. You're in Massachusetts. I grew up in Boston. I never owned a house until I had moved to South Carolina and I only paid $120,000 for a two bedroom two bath condo that was way nicer than any place I had ever rented back in MA.

Well, I don't really need to have a home all to myself anyways. My son is grown and it's just me so . . . what would be the point? I guess it all depends on what you need and what is right for you. Personally, I don't really need to have the responsibility of taking care of a home.

 

[Jarlaxle]

]

If I'm not understanding your situation then perhaps you ought to say what you mean.

I have, three times now. One more time: I am now paying just a bit more for rent than I had been paying JUST IN PROPERTY TAXES. Basically: I had been paying a mortgage ON TOP OF what I am paying now!

Yes, I get what you're saying now. I'm sorry I asked in the first place. I was under the impression I was speaking to an adult, not a petulant little child who throws a hissy fit temper tantrum over something stupid and petty.

Not my fault that you were unable or unwilling to understand what I was saying.

 

[Jarlaxle]

Houses around my area are out of reach unless you are a wealthy person. They cost too much and we don't make enough money to pay for them. Not to mention repairs and maintenance. I see more and more people renting in the future. They've made it almost impossible for a regular person to be a homeowner in today's America.

It's rather easy to be a home owner in America. I've never had a problem. Some of it is just a matter of where you live.

Yeah...Ferguson, Missouri is REALLY cheap now!

I no longer have any desire to be a homeowner. Not worth the hassle anymore.

 

[Jarlaxle]

^^^

I don't pay that much for rent. I pay around 1100 a month.

I think that is skewed very heavily by places like Boston, Brookline, & Cambridge.

 

[ChrisL]

^^^

I don't pay that much for rent. I pay around 1100 a month.

I think that is skewed very heavily by places like Boston, Brookline, & Cambridge.

Yeah, it's a lot more money to live in the city than the suburbs.

 

[GWV5903]

Owning a home is NOT the American dream...it is the bankster's dream...that Americans become debt serfs servicing a big mortgage and enriching the banksters. Nice racket.

It's the smartest move you can make. Who do you think finances the apartment complexes?

Homeownership is one the fundamentals to being an American.

 

[ChrisL]

Owning a home is NOT the American dream...it is the bankster's dream...that Americans become debt serfs servicing a big mortgage and enriching the banksters. Nice racket.

It's the smartest move you can make. Who do you think finances the apartment complexes?

Homeownership is one the fundamentals to being an American.

NOT anymore. More people have moved away from home ownership because it is too expensive.

Why People Are Renting

 

[ChrisL]

Owning a home is NOT the American dream...it is the bankster's dream...that Americans become debt serfs servicing a big mortgage and enriching the banksters. Nice racket.

It's the smartest move you can make. Who do you think finances the apartment complexes?

Homeownership is one the fundamentals to being an American.

Comparing the inflated cost of living today from 1950 to 2014: How declining purchasing power has hurt the middle class since 1950.

 

[Jarlaxle]

Owning a home is NOT the American dream...it is the bankster's dream...that Americans become debt serfs servicing a big mortgage and enriching the banksters. Nice racket.

It's the smartest move you can make. Who do you think finances the apartment complexes?

Homeownership is one the fundamentals to being an American.

Pablum. It's a racket, at least in this area.

 

[GWV5903]

NOT anymore. More people have moved away from home ownership because it is too expensive.

Why People Are Renting

Sorry but you're still wrong. Homeownership is the smartest and safest way to build long term equity. You can still buy a home and net more than you ever will renting...

 

[ChrisL]

NOT anymore. More people have moved away from home ownership because it is too expensive.

Why People Are Renting

Sorry but you're still wrong. Homeownership is the smartest and safest way to build long term equity. You can still buy a home and net more than you ever will renting...

I'm not wrong. A lot of people cannot afford it, including costs of insurance, taxes, maintenance, repairs, etc.

 

[sjay]

Houses around my area are out of reach unless you are a wealthy person. They cost too much and we don't make enough money to pay for them. Not to mention repairs and maintenance. I see more and more people renting in the future. They've made it almost impossible for a regular person to be a homeowner in today's America.

It's rather easy to be a home owner in America. I've never had a problem. Some of it is just a matter of where you live.

Houses cost, on average, a quarter of a million dollars in my state.

That's not so expensive what state are you in?

 

[GWV5903]

Pablum. It's a racket, at least in this area.

I'm not sure where the area is? We have huge demand in Austin today for homeownership due to a very favorable job market. Perry was good for Texas job growth.

New homes are making a solid come back nationally. Rates are finally helping. Jobs are the issue, this trend we are in will change and homeownership will increase again.

 

[GWV5903]

I'm not wrong. A lot of people cannot afford it, including costs of insurance, taxes, maintenance, repairs, etc.

Uh yes you are wrong, but it's okay, some people never get it...

Buying A Home Is Now 38% Cheaper Than Renting

 

[Jarlaxle]

Pablum. It's a racket, at least in this area.

I'm not sure where the area is? We have huge demand in Austin today for homeownership due to a very favorable job market. Perry was good for Texas job growth.

New homes are making a solid come back nationally. Rates are finally helping. Jobs are the issue, this trend we are in will change and homeownership will increase again.

Northeast. Property taxes are insane and getting worse. I work with a guy that dumped his house last year...his property taxes were more than his mortgage! Mine weren't that bad (yet), but they had tripled in 4 years.

 

[mamooth]

Uh yes you are wrong, but it's okay, some people never get it...

Buying A Home Is Now 38% Cheaper Than Renting

That's Realtor(TM) propaganda, which makes assumptions like the house will appreciate at an unrealistic rate, amd that you're in a high tax bracket and have a huge mortgage interest deduction. And it assumes that the vast amount of time spent on maintenance and additional commute time has no monetary value.

The USA still has a housing bubble going on. The Obama admin is inflating it, just as the Bush admin inflated it. Nobody wants a housing bubble to pop on their watch, so they support it and push it off on to the next admin. And in housing bubbles, the regular people get priced out, speculators buy up the houses, and so home ownership rates drop.

 

[GWV5903]

Northeast. Property taxes are insane and getting worse. I work with a guy that dumped his house last year...his property taxes were more than his mortgage! Mine weren't that bad (yet), but they had tripled in 4 years.

I've heard, way too much. We have zero state income tax, but we have high property tax rates. Our balance is really the values are not over the top.