Yet another example of how having an uber wealthy class is destroying America.
Soon, we will be like Europe, where only the very wealthy own property. Income
has been stagnant for so long and may jobs now pay less than before the
recession. People need to rent, so those who have buy up all the starter homes
and charge way more to rent them out than the people would pay, in a mortgage
payment, if they were buying. The end of the American dream.
I'd like to know who all these people really are and why the media wants to
advertise this. Certainly the majority of Americans buying homes must use a
Buying a home cash is doable and you don't have to be a part of the upper
wealthy class to do so. We followed the teachings of the prophets and got out
of debt as fast as we could, including our house. The next house was paid in
cash, and we're not part of the rich. Dave Ramsey has some great
suggestions. As far as the Europeans are concerned - it used to be that people
rented, but now a large section of the population is buying their homes. Times
are getting tougher, but we are also becoming more knowledgeable due to the
internet. The American dream is still possible.
Good for ipr in Spanish Fork, but that's not where all the cash buyers are
coming from. Remember the recession when so many people lost their shirts?
Some made money. In Minneapolis, where a relative lives, out-of-state
corporations are buying up starter homes so that they can rent them out.
It's very hard for a young family to get into the housing market. Wages
are going down in America, so more people are renting. Hence the grabbing up of
family-affordable housing. Sad.