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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Ilaine who wrote (96927)4/21/2001 10:48:56 AM
From: Les H  Read Replies (1) of 436258
 
homeownership rates falling except for 55 yrs and above

nahb.org

one would have to wonder what the real homeownership would be if not for the heavy subsidies below age 55 for home ownership, many of which have little or no equity in their homes. as wee keep inflating, more and more of essential needs are financed through 0% equity and with government subsidies, grants, and loans.

one of the difficulties of looking at affordability is the various housing costs such as property taxes, homeowner association fees, cluster or condo fees, etc. that can sometimes be half as much as the monthly mortgage on a median-priced condo or townhouse. The property taxes went up 14% this year. The homeowner association and cluster fees went up 10% this year. anyways, the real issue isn't whether housing is affordable for someone who already owns a home but whether it's affordable for those below 35 that are just getting married and/or having saved money after 3-5 years out of school.
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