why do they make it nearly impossible for people with average jobs buy a house.?

Question

Why do they make it so hard for average wage people to get a house now days? My parents both worked average paying jobs and they lived outside the city limits and they were able to get a house years ago, now my husband and i cant catch a break, we both would have to work full time jobs just to be able to pay all the bills. Why is it that way now days. why is it that now to afford a home there has to be two poeple working full time or at least one making a lot of money to be able to get a house?

i'm still young and dont have much saved everytime we try and save money something always comes up so we cant save more than we want.

and now where i live just renting an apartment has become hard. they are building new ones and the rent is so expensive and where i live they raise the rent every year.

we live the simple life, we do not spend money we don't have. we dont use credit cards, we have one that hardly works but is payed off, and one car we are still paying on, but really is the only one that works, just the basics not premium cable our car is NOT over 6000.00 for us to pay so we keep our bills simple. we have a baby so thats where our money goes diapers food and wipes. i dont even buy new cloths and stuff until they become to small, so thats not our problem. we are just barely making it.

we live in Kansas, and yeah that is a cheaper place to live but the employment is not keeping up with the cost of living. We have considered moving but where we want to go is more expensive and we don't have enough money saved to move, and just the stress with try to find a job is hard. we are just average people, working average jobs, i doubt if we move it will solve our problems

Answer 1

I disagree in as much as the changing real estate scenario is that loans from financial institutions repayable in 20 years of equated monthly installments, with a minimum of 10% value investment by us are now available !!

Answer 2

Lots of folks with average jobs still buy houses. If you are both working and just keeping up with the bills, you need to cut back. Live below your means and put money into savings for that house.

Take a close look at what your money is really going to. Clothes, eating out, new vehicle, big screen TV, premium cable and internet??

Answer 3

There are many people in the exact same situation as you. Over the past few years there have been many people that were able to get mortgages even though typically they would not qualify. This is one of the main reason that we have the sub prime credit crisis now and both the banks and the people that can no longer afford these homes are suffering because of it.

Cut back where you can and save until you have a reasonable down payment available.

Good luck to you.

Answer 4

I feel your pain! I live in a resort town in the southwest and honestly the price of housing is terrible. We bought last year but had a downpayment from previous home sales in other cities. Try checking out your local banks to see if they offer any special loan programs to low, middle or first time homeowners. You can check out Kentucky Housing Corporation (they have a website) for an example of what they can do. Your local city government may also co-sponsor a program. I took advantage of two such programs when I lived in Kentucky and they were instrumental in my being able to afford a home. Your local Urban League, United Way or city agency that deals with affordable housing may be able to direct you, as not every one is aware of what is out there. These programs usually assistance to people who meet income eligibility requirements and buying in neighborhoods targeted for Community Block Grant Development funding. Those neighborhoods are often close to urban and downtown areas and have a greater mix of income and ethnicity. I was able to buy a really cute little cottage in a old neighborhood that was in walking distance to coffee shops, bookstores, the grocer, a movie theater and parks. It was great. Some programs also provide low interest loans or grants to rehab old houses in part of town that the local government hopes to preserve or revitalize. Good luck.

Answer 5

First of all, you did not tell us where are you living right now.

Secondly, you should know that the house's prices vary a lot depends on different states, different counties, different cities, etc.

For instance, because the house's prices in California are too expensive, many people have moved to other states as Texas, Arizona, Nevada,...

Even in California, living in San Francisco or Los Angeles is more expensive than other counties such as Riverside, San Bernadino,...

That's why many people have relocated so they can afford to buy houses.

If you're serious to buy a house, why don't you consider to relocate like many other people?

Another option, for the people who do not have big pay checks like us, we can buy small houses (like townhomes, mobile homes...) instead of trying to get big houses. Later on, when you get better income, you can sell your small house and buy a bigger house. That's the way many people have done in the States.

Just my opinions. Good luck and best wishes!

Answer 6

Because they want all of our money.

Answer 7

You can buy a house with normal jobs, but what you really need is an outstanding savings account ballance.
Save save save

Answer 8

How about just making a living???

Answer 9

There is no "they" doing this to you. It is us. Our society elects people to office that grant tax credits to real estate investors.