We get email from families daily, trying desperately to hold onto their dreams… of home ownership.
It’s really no wonder why they feel that way;
“Half of Americans cannot afford their houses, according to data cited by MarketWatch. A new survey carried out by Hart Research Associates found 52 percent of Americans have had to make at least one major sacrifice in the past three years in order to maintain their mortgage or rent payment.
Those sacrifices included getting a second job, not saving for retirement, cutting back on healthcare, incurring credit card debt or moving to a worse neighborhood, MarketWatch said.
About 43 percent participating in the survey said owning a home is no longer “an excellent long-term investment and one of the best ways for people to build wealth and assets,” and more than 50 percent said buying a home has become less appealing.
In the wake of the 2008 housing crash, more than 7.5 million homeowners lost their home to foreclosure or short sale and about 9 million homeowners are still underwater and owe more than their property is worth, according to Daren Blomquist, vice president at real estate data firm RealtyTrac.
“If one looks at the last seven years as a predictor of housing market behavior in the future, it certainly should give one pause about whether buying a home is a good investment or not,” Blomquist said.”