Financials planners usually recommend you devote no more than 30 percent of your income to paying the rent, but more than half of Americans in rentals now spend more than that, an all-time high, according to a new study released Monday by the Joint Center for Housing Studies at Harvard University. http://www.scpr.org/blogs/economy/2013/12/09/15356/economist-southern-california-worst-place-in-u-s-t/ Rising rents, shrinking incomes We usually think of people renting because they can’t afford to buy, but now rentals are becoming increasingly unaffordable, with lots of people spending huge chunks of their paychecks on rent. That means they don’t have much money left to spend on other things, which hurts the overall economy. “In California, we need to figure out how to make it easier to build housing,” said Green.
Its just crazy how housing can be so expensive and a seemingly un realistic qualification proccess ?? its almost un believable, we are starting a huge new project soon and i need to move into that city, but to find a decent house is insane! i have no bad marks with credit, ive never couldnt pay rent anywhere. no bad marks anywhere in that field. and still i feel it out of control to have to fit into these qualification margins just to get an email back . i wont do it. its not right.
Same in NZ. Housing is a massive problem, rents are insane in the cities, min 20% deposit is now required for home loans and with the property market making owning your own home a dream for most younger people, there is not much of a way out.
I have been thinking alot about this whole situatuon lately. mainly because i started a carpentry trade school so i can learn to build houses. and we are starting a huge project in couple weeks where we are building 200 houses. So these houses are geting bought by Realtors and than sold to people. but so EXPENSIVE everything. so expensive. and i dont think its fair at all. and i hope i krsna will one day arrange things so i can get involved in building homes for humans. affordable, top quality, and realistic fair all these things i feel is a right. but i am crazy so i duno
its pretty much impossible to find a rental within city limits of my town unless you're in a higher income bracket and its really difficult to find a place outside of city limits that is affordable and in a decent area. this is one consequence of the foreclosure crisis, it drove up the demand in the rental market
"experience of the last few years highlighted the many risks of homeownership, including the potential loss of wealth from falling home values, the high costs of relocating, and the financial and personal havoc caused by foreclosure. All in all, recent conditions have brought renewed appreciation for the benefits of renting, including the greater ease of moving, the ability to choose housing that better fits the family budget, and the freedom from responsibility for home maintenance."
There's ways to build your own affordable housing. I dunno how viable or practical that would be, for most people probably not at all. But there are options. Getting a loan is very difficult here, and getting harder. I was lucky and able to get a loan. I can manage it fine, but the banks are very strict and if not for a couple of coincidences wouldn't have given me one. If I were to rent this place, it would cost atleast 1,5x what the loan costs to manage. Amazing how much cheaper it is to own a house.
Your right. your totally right. and that is ideal. We lived on a organic farm for some years just working on farm in exchange for rent. and we just occupied a trailer that wasnt big but perfect for me and wife. it was great. but time goes on and we moved and now we have son, me a new job and schooling, we kinda need somewhere to sit tight and build for a few years. to save and eventually get into our other plan. but this fucking renting a house, and the housing situation here in so cal blows my mind. always has
In the US buying a house is cheaper than renting if you buy smart. Instead of going for the BIG, GIANT, MASSIVE status symbol home, buy one you can pay off in 15 years, not 30. A neighborhood can go to hell in about a decade or so. A house can become a trap. Having it paid off makes life more flexible. Renting is as flexible as it gets, but you pay dearly for it. Our society seems to shun pair bonding overall in favor of individual success. I've tried it both ways and I can tell you I have done far better with Jane, my wife, than I did in the previous 30 years of my life as a semi-successful individual with a host a selfish bad habits. Learning to compromise and be a decent mate has made me better overall. And that works financially as well. Consider what we didn't pay as individual renters. The whole country seems to be pricing out of range for single people. But pairing up is being treated as selling out. No wonder we have such weird conflicts.
Housing in my city is fairly inexpensive to buy (at least, compared to the areas to the south, near Toronto, where it is insanely expensive), but rental prices are very high. In a city of 55,000 people, we have about 9,000 college and university students, so they (we) drive up the prices in the rental market. It makes it very difficult for low-income people to find adequate and affordable housing. We are looking to buy a house in a year or so, and there is a good chance that our monthly mortgage payment will be less than the monthly rent we are paying right now.
you can't make housing affordable, really affordable, not bullshit affordable with a lot of subsidy to the loan shark "industry", but joe sixpack affordable, and a financial instrument at the same time. that's pulling in opposite directions which is like beating your head against something. there are so many really obvious things that people just arn't seeing because the refuse to look in any direction where they might see anything that doesn't look like what they've made up their minds they want to believe. this is a tip of the ice berg example of that. people don't like to connect dots that tell them what they don't want to hear. even when its so obvious they can't even pretend to ignore it. real estate speculation and wrong headed priorities built into building codes. not that codes themselves are a bad idea in their proper place where they're needed. but if people had more slack in what they're allowed to do for themselves, not for someone else for money, and that's a distinction that needs to be taken seriously too, you wouldn't have this, completely real problems like this, that are completely created, needlessly. people have an idea about what freedom is, that its all about little green pieces of paper, and this just makes no sense. small structures can be build very inexpensively using inovative materials, all of which can be found, either in nature, at the local hardware store, or even at the dump. but most places people aren't allowed to build and live in them. i know the argument against. it makes some sense, but its also exagerated. and what's more, the reason its even made, is because the finanical industry won't let anything be done without their protection being paid. there's a big parallel to this in the context of transportation and the environment. there are things the public doesn't want to face and there are things corporate management doesn't want to face, but there is also this universe and this planet with live in and on, that's doesn't look like its going to let us keep getting away with not facing them. there are some things that just are mutually contradictory, no matter how much we would love to pretend otherwise. a molicule of o2 gas, has never been generated by passing around a dollar bill. there are just some things markets are good for, or at least tolerably close to it, and there are some things they're just not. i'm not saying we can't or shouldn't have them, but there are just some things it makes absolutely no logical sense to look to them for and expect from them. there's not goldy locks ideology. there's no magic wand in it. there are certainly solutions. they can be quite simple and obvious, when not being blinded by wearing a straight jacket of ideology.
Serious housing problem here in London.Astronomical rents,no one can afford to buy unless they totally compromise on other basic things.Dodgy landlords renting sub-standard flats and rooms.We're currently in a hyper inflated housing bubble which is creating an illusion of wealth.Could be crash anytime soon.I think decent housing should be a basic human right,and it's all just a scam.There's a lot of new builds in London but a hell of a lot of it is just getting bought up by rich Russians.Squatter's rights have been trampled on whilst there's a massive amount of empty property.
This is a problem all over Europe. "More than 11m homes lie empty across Europe - enough to house all of the continent's homeless twice over" http://www.theguardian.com/society/2014/feb/23/europe-11m-empty-properties-enough-house-homeless-continent-twice This world is headed in a crazy direction.
It seems these days you can rent for $1000/month OR buy a place with 20% down and then pay $400 or less per month in the same areas. Ofc those numbers will vary depending on circumstances, but that's how it looks generally to me these days.
grid indipendent micro housing. financial anything shouldn't have to be a factor. if anyone actually lived in a free country, you could go out in the woods and pitch a tent, have your mail delivered there, and call it your perminent residence address. if anyone thinks they do, try it and see what happens. a few very lucky individuals have been able to do so, but the odds are against it. also, depending on location, possibly quite a number of laws.
