Why You’ll Never Own a Home?

dreamkaztle asked:


Well I just read an article on Msn about home ownership. I have worked on getting a home since I was 21. Now being much older I have never dropped that dream. My dream has become more realistic, but nonetheless I had belief I would own a home sometime in my life. After reading this article I am now not sure it will happen. I won’t give up on the dream but in some way I am relieved I have not fallen into the housing crunch. My mother in law has pushed my husband and I for years to buy a home. We have not due to credit issues. It’s funny now when I look at it. I believe we did the right thing by not buying & waiting because of the push from family. I realize the “The American Dream” is home ownership and it does hurt me to know I may never be part of that dream.

I know this is a personal question, but I was wondering how many others out there are disappointed, hurt, or relieved and hope for a better time to come. Do you still have faith in the “American Dream.”

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3 Responses to “Why You’ll Never Own a Home?”

  1. acermill Says:

    April 2nd, 2009 at 9:26 pm
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    You should have availed yourself of any opportunity to purchase a house in your younger years. If that was twenty or so years back, the value of your property would now be substantially above that which you paid back then, and you would still be making payments based upon that much lower price.

    Having rented for all these years, I’d venture that your rent prices have escalated along with the value of the properties which you have rented. Landlords generally do not keep rents static as the rent market goes upward.

    If you are still interested in purchasing, now is the time to do so, since real estate values have gone downward for the first time in at least two decades.

  2. Spock (rhp) Says:

    April 5th, 2009 at 4:27 am
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    “now is the time to do so” is highly questionable advice — you know nothing about where the lady is or what the market is like there.

    suppose she’s in Honolulu where successive waves of foreign buyers have pushed prices into the stratosphere?

    ***
    is it possible for folk of ordinary means to buy a home?

    yes.

    in some areas.

    is it for everyone?

    no.

    it is more important to figure out a lifetime financial plan and adhere to that than it is to buy a home. maybe buying fits, maybe it doesn’t.

  3. loanquest Says:

    April 6th, 2009 at 3:59 pm
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    Portland Real Estate

    First figure out why you have not gotten a home yet. If it’s income find ways to make more money, If it’s credit work on a budget and get your bills down a point where you have money left to save.

    My guess is that this is more of a disposable income issue than a credit issue because there are homes with owner financing more so these days than ever so work on building a stronger financial foundation first and the home will come…the market is deluged with homes right now.

    Also spend some time thinking about what you want personally. It works against you to compare what you have with what someone else has or what some ideal says you should have. Once you know what YOU want, the comparison game will stop and you will be freer to pursue YOUR dream on YOUR terms.