Comments on: Home Ownership Tough for Working Class

By: erik

erik — Tue, 28 Mar 2006 17:25:58 +0000

I think it is ridiculous that our household income is $50,000 a year, and there is not one single house on the market that doesn’t look like a train hit it, that we can legitimately afford. I refuse to get a loan-shark type of mortgage to trick myself into thinking that I can afford a $200,000 house. Do you guys think the market will ever get more affordable or that these prices will level off a little, but stick around because everyone is used to them? I.E. gas prices.

By: BlogHer [beta]

BlogHer [beta] — Fri, 24 Mar 2006 08:46:31 +0000

A House is Not A Home

Increasingly the structures in which we dwell are no longer just the places we inhabit in order to find comfort, warmth and shelter. They’ve become canvases upon which to express our creativity, investments, banks, ATMs, sources of income, pensions, sch

By: Bruce Kroeze

Bruce Kroeze — Fri, 24 Mar 2006 02:25:41 +0000

I bought my first house in 1992, when I was making $4.50 and my wife was making about $8. As a result, I’ve never really understood lower income folks think it is impossible. It was a bad house in a bad neighborhood, true, but it was only half a block away from where I’d been renting. Obviously my standards weren’t that high.

I think it is more a belief and a cultural thing than a real financial fact that you must be well off to buy a house, at least in many cities.

By: Lauren

Lauren — Thu, 23 Mar 2006 01:39:45 +0000

I was going to say exactly what Madame X did. I am in southwestern CT, and while we make significantly more than the national median, we would be “working class” by that definition.

By: Madame X

Madame X — Wed, 22 Mar 2006 21:30:18 +0000

That doesn’t make sense, to base it on the median income in your neighborhood. Someone making 120% of the median income in Greenwich, CT, say, is not working class. Poorer than a lot of their neighbors, perhaps, but not workign class.