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NACA demands help with mortgage modifications on Capitol Hill

NACA members from the state of Maryland went to Senator Barbara Mikulski's office at the Capitol Hill on July 27, 2010, to advocate for ...

Struggling to Make Rent? For Middle-Class Millennials, Help Is on the Way

When Ben Jones listed an apartment on Craigslist in March, he received more than 40 replies within two days. Some desperately pleaded that they were ready to move in the next day, he says. His apartments in Mohave County, Arizona, are in high demand because Jones hasn’t raised rents in the eight years since he became a landlord. His apartments start at $650 a month, while the average in the area is $1,400. Luckily for middle-income homeseekers, Jones isn’t the only one offering unique solutions to a housing crisis that’s crippling millennial dreams.

Rents in America rose by 64 percent between 1960 and 2014 (adjusted for inflation), while real household incomes only increased by 18 percent, according to census data analysis by real estate platform Apartment List. But millennials, many of whom began working on the heels of the Great Recession in 2008, have been worst hit.

The affordable housing crisis just hit rural America in a big way | Mortgage Rates, Mortgage News and Strategy

America’s problem with affordable housing — a concern long associated with big cities — has expanded to rural counties.

A new report from Stateline demonstrates the shortage of affordable housing is a dire and growing concern for rural communities — counties that do not contain a town of more than 10,000 residents.

“Nearly one-fourth of the nation’s most rural counties have seen a sizeable increase this decade in the number households spending at least half their income on housing, a category the federal government calls “severely cost-burdened,” reports Stateline.

The outsize impact of small changes

Rural housing markets — by function of their size — are very sensitive to change. Housing opportunities in these communities can be impacted by lingering effects of the Great Recession or, in other instances, more recent economic revitalization.

“It only takes a small change to have an effect on rural communities,” says Corianne Scally, an expert on affordable housing and community development at the Urban Institute.

Is there a point to having a barely affordable mortgage...?

and living in a nice house in a good area, but you know that if anything were to go wrong you would not make the payments. Any solutions? The cost of houses is ridiculous these days, it's hard enough getting a house in any area let alone a nice one.


Hi,
I agree with your answers, but I just went mad last year, and rented out my house to totally pay off the mortgage, and stayed on my small boat in the meantime.
Result ?

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