First time home buyers missing for good reasons

Weak wage growth, expensive home prices, utilities, taxes and upkeep, along with high household debt and low savings levels, are all excellent reasons not to buy a house.

The solution is to rent, split costs and share with room-mates or family until one is able to pay down debt and build up savings and eventually amass a down payment to buy a home when the facts make good financial sense to do so. Those suggesting the answer lies in lowering lending standards and reducing down payment requirements even further in order to allow people to buy homes sooner are dangerous and clueless or wilfully blind about how the world got into its current debt mess in the first place. Here is a direct video link.

This entry was posted in Main Page. Bookmark the permalink.