What are some of the housing problems that exist in US???

Answer 1

Currently you are probably speaking of the sub-prime mortgage lendign crisis going on. THis was caused by financial institutions giving out housing loans to people that they knew could not afford it. They would set them up in adjustable rate mortgages with big ballon payments or large increases in rates after a certain amount time all the whiletelling them that will be able to afford the rate hike because they should be making so much more money at their job. The problem is that many of the people didn't plan for the rate hike and they were not getting the pay increase that the loans institutions had projected for them. Because of this, many have defaulted and banks have taken huge debts because of the defaulted loans. Now the consumers and the loan institutions are asking the federal government to step in and help them with buyouts and new mortgage loans at a special rate.

Also, because of the crisis, this has put a large number of fairly new homes on the market at a cheap price. This has driven the value of homes across the nation. People are having a hard time refinancing their homes or getting home equity loans. They are also refraining from building new homes because currently it is cheaper to buy a home that is on the market.

Then there is the currency defaltion. The American dollar is down against most of the international currency. For the products that Ameirca imports, it now costs more to buy them because foreign companies are still demaning that they get just as much money for their products, but the exchange rate is lower now. So the Ameircan builders are having to pass the difference to the consumers so that they can make a profit. This is affecting everything from applicances that are made in other countries and out into homes to the supplies that have to delivered by truck which use large amount of imported fuel. This is driving up the cost of building and many Americans are reluctant to pay the over-inflated price, especially when the other houses in the area that have been foreclosed on are selling at a cheaper price.

Answer 2

The working poor cannot afford the high rents of the inner cities; they must take public transport to get to work each day, which costs them money. Those with vehicles cannot afford the rise in gas prices. Besides, many of their neighborhoods are rife with crime, causing dangerous living conditions.

The middle class can barely afford rents in their suburban neighborhoods. Those that bought a house within the last few years, overpaid for their residence, and were lured by slick mortgage broker companies to pay 3-5 year "interest only" payments; thereafter, the interest rates would become variable, causing the mortgage payments to skyrocket; thus, causing the buyers to default on the loan and file bankruptcy.

The wealthy class have no housing problems, and do not understand why people say there are housing problems in the US.

Answer 3

I have a friend that was stupid enough to buy an apartment complex and rent to section 8 recipients. She has to have people go in almost every three months and repair everything that they tear up. I don't know what it is about the welfare recipients that make them so destructive and unappreciative of everything. I guess if they changed their ways they could get more out of life. I used to be a property manager and I found it amazing that people couldn't pay their rent, but they moved many adults into the house and had new furniture and big screen TV. All on the public dime.

Answer 4

Unskilled contractors can do poor work and get away with it

natural disasters using up raw materials and prices going up.
people keep building where natural disasters keep happening.
If a house is rebuilt in a disaster area it probably cost too much and the former owner can no longer afford it.
Insurance companies rasing the rates so that poeple who had the house their whole life without ever a claim can no longer afford it.
Your house could be taken away to build a shopping mall, because malls pay more taxes.
Developers thinking they can build expensive houses then no one can afford them so they sit there empty

Answer 5

there s no problems in american housing that the ppl themselves didnt make for themselves.

there s parts of the country that rent for a 1 br apt is 2500, BUT DONT LIVE THERE PEOPLE!!!

theres places where rent is 350 for a 3 br house thats pretty nice.my suggestion, live there.

most ppl live beyond their means where our poor actually have a cell phone sometimes 2 with internet and full cable tv, then have the balls to complain the gov't doesnt GIVE them enough money each month.

that s a socialist mentallity which has to stop for this craziness to stop. my motto is sleep in the bed you made, not what someone else did for you.

Answer 6

The wealthiest Americans are not leading the way toward energy efficient housing. Instead of installing solar panels, they're building houses big enough for three families and lighting their trees. Instead of investing in green technology, and thereby reducing the prices of those technologies, they're feeding their egos. They all think they're Donald Trump. And the funny thing is, the banks hold the titles to most of their homes and 7mpg Hummers.

Answer 7

For one its about time the States learned to put power lines under ground when you think about the weather conditions.
More solid homes not made of wood that get blown away in a hurricane.
A massive update in emergency housing Caravans don't cut it, much to flimsy and death traps.
Give a lot of thought on safety issues when building houses

Answer 8

Most Americans cannot afford to buy a home due to the over-inflated costs of new homes and the crooked mortgage lenders.

With the average for a new home being in the mid 200.000.00 range and the average household income of 36,000-48,000 yearly, most simply can't afford to buy.

Answer 9

Homelessness at its worst. Get the stats on families living out of their cars too, then look at foreclosures, which are really for the upper middle and upper.

Answer 10

That's the perfect question for Fat (58" inch waistline My God!)Al Gore or John Edwards or Hillary or Osama Obama the Closet Muslim ask any of them.

THEN ask them where THEY live and what's their Electric Bill like ....