BREAKING: U.S. Senate Overwhelmingly PASSES Landmark Housing Affordability Bill!
(wltreport.com)
🏆 - WINNING - 🏆
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The problem with this that I see, is that these big firms will circumvent the law by creating smaller shell companies that in turn buy property. The end result is the same. Not sure if the language in the bill takes that into consideration as to who can and cannot purchase homes meant for families. The speculation in the real estate market has always been a problem for affordability by creating bubbles. It's great for those that already own homes, but for those looking to purchase, not so much. I can't say I like the value of my own home continuing to rise - it just makes my property taxes increase.
I was looking but never could. It was too expensive.
You are not alone fren. I had to wait for the property bubble crash before I was able to comfortably purchase. I managed to get into a decent home for less than I was paying for rent on a comparable home. My property has quadrupled in value since then. It's not real value. It's artificially inflated value driven by market speculation. As a retiree, the increases in property taxes and insurance really bite.
It is a dream that probably will never happen, sad but true. 😔
I didn't think so either at one time. It seemed so far out of my reach and I refuse to live my life for a mortgage. I know others that did. Mostly being pushed by friends and family to take on a burden that left no room. When the market crashed, they all lost their homes when one of them lost a job, or when something else unexpected happened.
People were pushing me as well, but I said no. It's not that I couldn't, I just didn't want to. It didn't make sense. I figured it would be in God's timing, not mime. So, I waited till a better time and it happened.
I have been around long enough to have seen these bubbles grow and then burst. I don't doubt we may have another. When? That I can't say. But they usually do come. The market is overinflated. There needs to be a correction.
With me, I knew a crash was coming when brokers and people intimately connected to the housing market were selling off their properties and renting a small house. They knew something was coming. They got out while encouraging others, usually young naive couples, to jump in. I actually confronted a broker one day about it. I asked him, "How do you sleep with yourself at night? Knowing the bottom is going to fall out of this and yet you are advising people to buy. You know full well they will be left holding the bag." What a bastard.
At the time, I figured it would be a couple of years from then. I was wrong. It happened the following year. What my house is worth now is what it was selling for at the height of the market before it all collapsed. I stepped in and got it for 1/4 the price. So don't give up hope friend. Nothing ever stays the same. Just continue on and prepare to buy the dip.
your spot on ,i've seen it,and the Governor's are in on it.
Especially in Florida.
Too much money for them to ignore. But in the end it's always average Americans that pay the price.
The bill does include language about that, oddly it was put in by a dumocrat.
Interesting to know. Thanks.
I could care less about who put the language into the bill as long as it is in there to try and clamp down on those blood suckers.