What are house prices like in the USA? Can a single ordinary person, with, say a clerk job, buy a house?

Question

Or does it take two good jobs to buy a house?

Answer 1

Yes you can! But it depends on your annual income, your debt-to-income ratio, your credit scores (at least your 2 highest scores), how long you've been on your job(they normally like 2 years) and how well you've paid your rent (usually the last 1-2 years for that).

There are other ways to obtain properties as well, but trust me, you don't need carlton sheets to do it. Your local court house and sheriff sales are all you need to obtain information on foreclosed properties. Many times you just pay the back taxes and it's your home. But, the original owner can reclaim the home within the first three years that it was left basically abandoned, so there is a downside. But the upside is, many don't so it becomes yours to keep.

So remember, we're in the information age; and information sells. So Carlton Sheets and others are selling you what you don't know, but what you can find out for free. There was a guy here, who bought 14 properties with no money down, true story. My Father has 4 properties he purchased with less than $5000, but their total value is well over $270,000 (he lives in one of them, does his business out of another and rents the other 2). My husband and I just bought our home that came with over $20,000 worth of equity in it, in a very nice subdivision, with no money down. We only paid $400 at closing and the loan was done in my husbands name only (I'm a Stay-at-home-Mom, so I have no income) and he doesn't even make $24,000 a year!

So research, research, Research! Because there are ways!

PS we purchased this house in May after being discharged from a 4 year bankruptcy in March. We used the free information our city has available and found our home! And we're not real estate agents either! Wish you the best!

Answer 2

A house prive is determined by where you live. House can cost form 30,000 small hpuse in a country sitting to millions in places like L.A. California or New YOrk.
But somewhjere in America everyone can own a home if the can afford the payments and usually if you have a job or suifficent living funds you can get help with a loan. which have reduced payments. Some people only ever pay but a small portion of their true mortage on a house. Tax payers share the balance. It's not as easy as it was due to people abusing the system but it still is in force.

Answer 3

Every single area in the US is different as to what is required from the borrower, however knowing that the minimum wage has not been changed by our great government in a long time the government has set up loan assistance programs that will assist the borrower with a low paying job, to acquire a home. Here is what the US Government says about real estate statistics in the US:
Statistics on real estate from the Feds: http://www.fedstats.gov/
If you want to find out what the government loan assistance programs are for US citizens go to: http://www.realestateformnm.com/ResearchLink.html

Answer 4

I believe the poverty threshold is now $21,000. A minimum wage job is just at that.

There are many additional costs to being a homeowner. Apply for a pre-approval from a bank and see what you qualify for. Where you live will actually determine how much house you can afford. And don't forget to add in utilities, taxes, homeowners insurance, neigborhood fees, etc...

Good luck.

Answer 5

Hello,

I completely agree with wanting to invest your money. Afterall, what's the point of making money if you can't make more money with your money (got that?)? Anyway, I've tried all different investments from stocks and bonds to IRA's, 401k's, and real estate. I'm really a big fan of diversification.

However, the only investment I've really been happy with so far is real estate. Over the past 5 years, I've bought 3 different properties (all have tenants, and I'm making more than the mortgage payments on 2 properties).

The 3rd property I got was using Carleton Sheets no money down methodology (he's a GURU in real estate, and yes, his methods do work!). You can actually buy a property for absolutely nothing down (NO MONEY FROM YOUR OWN POCKET). I payed over $500 for his course 3 years ago, and I just saw it online for $9.95!!!! This is a steal at $9.95 (I'm actually going to buy it for my friends for Christmas). It was featured on TV, so I got the website from there.

Before you invest in anything, I highly suggest the Carleton sheets course. http://www.alllsite.info/real-estate.php

Answer 6

It depends on location. A three bedroom brick home in a small town in Eastern Texas may cost 60k, while in B-ham, Al it may caust 120k. The same house in California would caust 500k.

Answer 7

It depends where. I live outside of New York City. It would take a minimum of $40K a year to buy a small co-op in less desirable cities.

Answer 8

It definitely depends on where you buy and what you are willing to pay. Be prepared to either live in a bad area or spend a lot of time renovating if you don't have a lot of funds! good luck!