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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: bentway who wrote (175115)	1/5/2009 12:08:07 PM
From: GraceZ	Read Replies (2) \| Respond to of 306849

The problem with various programs like HFH is that well intentioned people continually make the mistake of thinking that affordable housing is built. Affordable housing is made, it is made the same way low cost commercial space is made, by having people move from older units into bigger, better, newer and updated housing while the older existing housing is snapped up by people (like you and me) who were short on cash but are willing to substitute their own sweat equity to improve and bring the house up to modern standards. Sweat equity is great tax free income for people who might not have a very high price on their skills out in the job market. The problem with owning ANY housing is that it takes a certain amount of either skill, cash or both to keep up. It's continual, the crap you need to do so that your home value stays even. Most of the people who end up owning these types of housing units lack skill as well as money (single heads of household women for the most part who can't even use a lawnmower) even though they may contribute their time initially, they never get the real know how needed to maintain a home. They should remain renters because then they'd have someone to call when things break down.