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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 ...

Rising home prices and interest rates squeeze all but the richest homebuyers

Trulia found that the number of seven-figure homes and the highest rate of increases are overwhelmingly concentrated in California. In San Francisco alone, four out of five homes crack the million-dollar threshold. Outside of the Golden State, Honolulu, Seattle and Long Island, N.Y., also saw major increases in homes worth $1 million or more.

At just over 14 percent, San Jose had the highest year-over-year increase in million-dollar homes, according to Trulia’s report.

“The areas I’m concerned about are the areas that aren’t responding where prices are still accelerating, like San Jose,” said Daren Blomquist, senior vice president at Attom Data Solutions. “That’s a sign that these areas have such constrained inventory that there are hardly any properties just sitting vacant. That’s continuing to put upward pressure on prices,” he told NBC News.

These kinds of increases aren’t sustainable, Blomquist suggested. “That seems to defy reason a little bit and those are… red flags there.

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.

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 ?