#homeownership dreams

[superiormortgage01]

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[finprestigeconsult]

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At FinPrestige, we take pride in being a premier home loan consultancy firm dedicated to assisting individuals and families in Singapore achieve their homeownership dreams. With a team of experienced and knowledgeable financial experts, we offer personalized solutions tailored to your unique needs and financial situation. Visit the FinPrestige website:- https://finprestige.com.sg/services/ Website: https://finprestige.com.sg/ 📧 Email: enquiry@finprestige.com.sg 📞 Phone: 88376078

[shego1142]

I know yall probably know about poverty and generational poverty and what not but I just want to vent….

Because like… the things people don’t like know about generational poverty unless they’re experiencing it is just how… trapped you feel… weighed down by absolutely everything.

See I honestly think something may be up with our gas line

Which is a terrifying thought.

Now, idk if it’s a leak per se (though we’ve got the windows cracked just in case) but if we turn on our stove the gas smell is really strong, the flame flairs out of the sides of the stove, etc.

Shit that shouldn’t be happening.

Shit that is really fucking dangerous.

We know this is dangerous, we’re not stupid.

We know we should get it fixed.

But here’s the thing, okay?

The floors are just base boards, they’re falling in and there’s holes everywhere.

There’s rats that we’ve tried every trick in the book to get rid of, short of hiring an exterminator. We’ve borrowed traps, had traps “gifted” to us, tried poisons that friends and family have bought for us, etc. It cuts them down but they come back.

All of our food is in thick sealed plastic containers and yet they’ve eaten some of the containers open. They even ate our soap and makeup and cleaning supplies and that didn’t seem to stop them. (Our soap and cleaning supplies are now in plastic containers too but idk how long it will deter them, and the makeup is thrown away)

We have shoddy wiring in the house, done by my own grandpa back in the 70’s when they first bought this place.

Our roof has cracks in it that have failing patches, done by a family friend.

Our AC doesn’t exactly work very well and it’s been reaching 100°F weather (with 70% humidity no less) and to fix it we’d need $10k at least, but we’d also need new flooring, so it would likely be more than that…

Etc.

And like, it’s not that the house is dirty, but that it’s falling apart.

And here’s the deal… calling someone who knows what’s what about houses to check the stove means calling someone who is going to inspect the whole house, someone who’s going to say:

“hey uh, your gas is messed up and your electricity is messed up and so’s your plumbing… Your floors are bad… we have to condemn this house and if you can’t pay to fix it up then you’re going to lose it.”

And it’s not like we got this house and destroyed it by a lack of maintenance, this house is like, 50+ years old, and has been my home since I was born.

My grandma and I couldn’t take care of everything because my grandpa had Alzheimer’s and he was going downhill and it was me and her caring for him.

My health is really bad and I can’t work a regular day job because of it, but I haven’t been able to hire a lawyer to apply for disability, so we’re living off one income and whatever side gigs I can do from time to time.

We don’t have the money to pay the mortgage, buy groceries, pay the home insurance, the gas bill, pay medical bills, buy pet food, etc and also then pay for our house to be inspected and potentially condemned for things I didn’t even do in the first place, things that came before I inherited this house…

My whole family has been poor my whole life, from my great great grandparents to my parents, etc.

It was always “you don’t pay for a professional to fix it, you either fix it yourself or get a family member or a friend of a friend to fix it”

Which means that if we ask a building inspector to tell us what’s wrong with the house… well… it’s going to probably be everything. Because this house has never been “professionally” fixed, it’s only ever had family members and friends of family members slap duct tape over glaring issues and say they’ll only charge you a glass of sweet tea.

Which means it’ll probably cost nearly the entire value of the house to fix tbh.

I just feel like I’m on a ship that’s sinking and way more water is coming in than I could ever manage to get out. I keep trying to patch the leaks but the materials just not available, and besides, if I stop bailing out the water for even a second to go and try and patch the leak, I’ll go fully underwater.

And you know, it’s not fair. It’s not right that it’s like this. This is our home and we love it. This has been my home for years and we love this house, this land, the trees and plants that grow, everything here is loved. It’s cared for. We try to take pride in it.

But you wouldn’t know that because we’re too busy trying to bail out that sinking ship. We’re too busy from constantly working and cleaning and repairing.

It’s not okay that it’s set up that way. We need help, we need community. We should be able to call someone and be like “Hey, we love this house, we’ve never been late on a payment, we’ve worked our butts off to try and keep things going, but we need help. Can you look at everything this house needs to function and be in good condition and help us get those things?”

Like, hell a payment plan option would work, wouldn’t it? Why isn’t that the done thing?

I mean, I know why, the more houses that are taken from the poor means the more real estate that’s available for the rich, they’re already trying to make our whole neighbourhood into some corporate venture instead of a residential area. And besides, if they manage to make us homeless they’d be just as happy throwing us in jail for the “crime” of being homeless and poor and making money off free labour.

Like that’s why it’s normal practice not to help anyone keep their home when they actually have a home. The system is set up for you to fail unless your family is at least moderately wealthy.

It’s just such an unforgiving cycle. And I know I’m beating a dead horse with this vent. I know that like over half of America’s population is likely in the same shitty place we’re in.

It’s just… I’m so tired of being in cycles like these.

I’m too sick to work, too poor to afford to get on disability, and both too poor and too exhausted to go to the doctor to get proper treatment, and it’s just a loop.

I’m too exhausted to fix the house, too busy cleaning the house to rest, too exhausted to make money to have professionals help fix the house, rinse and repeat.

The house breaking down is very likely making me more sick, but I’m too sick to be able to get the house fixed.

My grandparents didn’t have money to fix the house, my parents don’t have money to fix theirs, I don’t have money to fix my house.

Every step forward is like ten steps backwards and I genuinely don’t know what the solution to all of this is.

I feel so fucking trapped. I don’t even have the energy to run a gofundme for myself to try and get the help we need, because it takes so so much to to actually get a gofundme up and off the ground, I have tried before and it’s always been a failure because I just literally never have enough energy for it.

We have so many things we’d love to do. We’d love to make this house into an eco-friendly, sustainable home, with solar panels and a huge garden. We want to make a farm stand with fresh eggs and vegetables and fruit and let it operate on an honour system, so anyone who needs food can take what they need and pay what they can, yes even if it’s $0. I want to crochet hats and mittens and set those out too, for sale or just for those who need them…

We want so badly to take care of our community… but it feels like our community isn’t there to support us, not because people don’t want to support one another but because we’re all trapped or are being prevented from supporting one another.

Because having a farm-stand means you need to buy business licenses… building a sustainable home means you need to buy a building permit.

Every step of the way feels like good intentions are wasted, road-blocked.

I can’t even begin to explain how many jobs I’ve applied to, writing, editing, working as a cook or a waiter, data entry, etc.

In school they told me I’d be able to do anything I wanted to. I was a “gifted” straight A student and as I’m sure many people on this site know, that’s not bragging. It’s the opposite. The school system, the system that is supposed to help me be successful in life, told me I would be, and now I would be lucky to make $7.25/an hour while living in a place where the minimum liveable wage is $35/an hour.

It costs $35 an hour for one person to live moderately comfortably in my town. And this isn’t an arbitrary number, it’s literally on our county’s government ran poverty assessment website.

And that’s not a thriving wage it’s a surviving wage. It’s Home, Food, Utilities, Transportation & Clothes.

It leaves no room for medical care, comfort, entertainment, etc.

So what the hell are those of us who are working for anything less than that, or those of us unable to work, supposed to do?!

And like I said, I know I’m preaching to a choir rn, I know everyone is experiencing some version of this. I just… I need to be able to express it from time to time. To talk about how unfair and ridiculous and needlessly cruel this is.

It’s so deeply flawed and evil that we’re unable to have legitimate health concerns inspected because we’re worried about the house being taken away from us.

It’s trash. It’s inhumane.

And if anyone has any like… suggestions or advice that would be great… I’m considering just having our gas service canceled by our gas company and buying a small electric grill instead… but our gas also powers our hot water heater so…

:/

[dontmeantobepoliticalbut]

By Thom Hartmann

Back in 1967, a friend of mine and I hitchhiked from East Lansing, Michigan to San Francisco to spend the summer in Haight-Ashbury. One ride dropped us off in Sparks, Nevada, and within minutes of putting our thumbs out a city police car stopped and arrested us for vagrancy.

The cop, a young guy with an oversized mustache who was apologetic for the city’s policy, drove us to the desert a mile or so beyond the edge of town, where we hitchhiked standing by a distressing light-post covered with graffiti reading “39 hours without a ride,” “going on our third day,” and “anybody got any water?”

Vagrancy laws were so 20th century.

Today, the US Supreme Court heard a case involving efforts by the City of Grants Pass, Oregon to keep homeless people off its streets and out of its parks and other public property. The city had tried a number of things when the problem began to explode in the last year of the Trump administration, as The Oregonian newspaper notes:

“They discussed putting them in their old jail, creating an unwanted list, posting signs at the city border or driving people out of town... Currently, officers patrol the city nearly every day, Johnson said, handing out [$295] citations to people who are camping or sleeping on public property or for having too many belongings with them.”

The explosion in housing costs has triggered two crises: homelessness and inflation. The former is harming the livability of our cities and towns, and the Fed’s reaction to the latter threatens an incumbency-destroying recession just as we head into what will almost certainly be the most important election in American history.

The problem with housing inflation is so severe today that without it the nation’s overall core CPI inflation rate would be in the neighborhood of Fed Chairman Jerome Powell’s 2% goal.

Graphic based on BLM data and interpretation by The Financial Times

Both homelessness and today’s inflation are the result of America — unlike many other countries — allowing housing to become a commodity that can be traded and speculated in by financial markets and overseas investors.

Forty-three years into America’s Reaganomics experiment, homelessness has gone from a problem to a crisis. Rarely, though, do you hear that Wall Street — a prime beneficiary of Reagan’s deregulation campaign — is helping cause it.

32% seems to be the magic threshold, according to research funded by the real estate listing company Zillow. When neighborhoods hit rent rates in excess of 32% of neighborhood income, homelessness explodes.

And we’re seeing it play out right in front of us in cities across America because a handful of Wall Street billionaires want to make a killing.

It wasn’t always this way in America.

Housing prices have spun out of control since my dad bought his house in 1957 when I was six years old. He got a Veteran’s Administration-subsidized loan and picked up the brand-new 3-bedroom-1-bath ranch house my 3 brothers and I grew up in, in suburban south Lansing, Michigan. It cost him $13,000, which was about twice what he made every year working a good union job in a tool-and-die shop.

When my dad bought his home in the 1950s the median price of a single-family house was 2.2 times the median American family income. Today, the Fed says, the median house sells for $479,500 while the median American personal income is $41,000 — a ratio of more than ten-to-one between housing costs and annual income.

As the Zillow study notes:

“Across the country, the rent burden already exceeds the 32% [of median income] threshold in 100 of the 386 markets included in this analysis….”

And wherever housing prices become more than three times annual income, homelessness stalks like the grim reaper.

We’re told that America’s cities have seen this increase in housing costs since the 1950s in some part because of the growing wealth and population of this country. There were, after all, 168 million people in the US the year my dad bought his house; today there are 330 million.

And it’s true that we haven’t been building enough new housing, particularly low-income housing, as 43 years of neoliberal Reaganomics have driven down wages and income for working-class people relative to all of their expenses while stopping the construction of virtually any new subsidized low-income housing.

But that’s not the only, or even the main dynamic, driving housing prices into the stratosphere — and, as a consequence, the crisis in homelessness — over the past decade. You can thank speculation for much of that.

As the Zillow-funded study noted:

“This research demonstrates that the homeless population climbs faster when rent affordability — the share of income people spend on rent — crosses certain thresholds. In many areas beyond those thresholds, even modest rent increases can push thousands more Americans into homelessness.”

So how did we get here?

It started with a wave of foreign buyers over the past 30 years (particularly from China, Canada, Mexico, India and Colombia) who, in just the one single year of 2020, picked up over 154,000 homes as their way of parking money in America. Which is part of why there are over 20 times more empty houses in America than there are homeless people.

As Marketwatch noted in a 2015 article titled “The Danger of Foreign Buyers Gobbling Up American Homes”:

“Unusual high appreciation of the aforementioned urban centers is due to the ever growing influx of foreign buyers — mostly wealthy Chinese — who view American residential real estate as the safest investment commodity. … According to a National Realtors Association survey, the Chinese spent $22 billion on U.S. housing in 12 months through March 2014…. [Other foreign buyers primarily include] Canadians, British, Indians and Mexicans.”

But foreign investment has been down for the past few years; what’s taken over and is really driving home prices today are massive, multi-billion-dollar US-based funds that sweep into neighborhoods and buy everything available, bidding against families and driving up housing prices.

As noted in a Wall Street Journal article titled “Meet Your New Landlord: Wall Street,” in just one suburb (Spring Hill) of Nashville, “In all of Spring Hill, four firms … own nearly 700 houses … [which] amounts to about 5% of all the houses in town.”

This is the tiniest tip of the iceberg.

“On the first Tuesday of each month,” notes the Journal article about a similar phenomenon in Atlanta, investors “toted duffels stuffed with millions of dollars in cashier’s checks made out in various denominations so they wouldn’t have to interrupt their buying spree with trips to the bank…”

The same thing is happening in cities and suburbs all across America; the investment goliaths use finely-tuned computer algorithms to sniff out houses they can turn into rental properties, making over-market and unbeatable cash bids often within minutes of a house hitting the market.

After stripping neighborhoods of homes families can buy, they then begin raising rents as high as the market will bear.

In the Nashville suburb of Spring Hill, for example, the vice-mayor, Bruce Hull, told the Journal you used to be able to rent “a three bedroom, two bath house for $1,000 a month.” Today, the Journal notes:

“The average rent for 148 single-family homes in Spring Hill owned by the big four [Wall Street investor] landlords was about $1,773 a month…”

Ryan Dezember, in his book Underwater: How Our American Dream of Homeownership Became a Nightmare, describes the story of a family trying to buy a home in Phoenix. Every time they entered a bid, they were outbid instantly, the price rising over and over, until finally the family’s father threw in the towel.

“Jacobs was bewildered,” writes Dezember. “Who was this aggressive bidder?”

Turns out it was Blackstone Group, now the world’s largest real estate investor. At the time they were buying $150 million worth of American houses every week, trying to spend over $10 billion. And that’s just a drop in the overall bucket.

In 2018, corporations bought 1 out of every 10 homes sold in America, according to Dezember, noting that, “Between 2006 and 2016, when the homeownership rate fell to its lowest level in fifty years, the number of renters grew by about a quarter.”

This all really took off around a decade ago, when Morgan Stanley published a 2011 report titled “The Rentership Society,” arguing that — in the wake of the 2008 Bush Housing Crash — snapping up houses and renting them back to people who otherwise would have wanted to buy them could be the newest and hottest investment opportunity for Wall Street’s billionaires and their funds.

Turns out, Morgan Stanley was right. Warren Buffett, KKR, and The Carlyle Group have all jumped into residential real estate, along with hundreds of smaller investment groups, and the National Home Rental Council has emerged as the industry’s premier lobbying group, working to block rent control legislation and other efforts to regulate the industry.

As John Husing, the owner of Economics and Politics Inc., told The Tennessean newspaper:

“What you have are neighborhoods that are essentially unregulated apartment houses. It could be disastrous for the city.”

Meanwhile, as unionization levels here remain among the lowest in the developed world, Reagan’s ongoing war on working people continues to wipe out America’s families.

At the same time that housing prices, both to purchase and to rent, are being driven through the roof by foreign and Wall Street investors, a survey published by NPR, the Robert Wood Johnson Foundation, and the Harvard TH Chan School of Public Health found that American families are in crisis.

Their study found:

— “Thirty-eight percent (38%) of [all] households across the nation report facing serious financial problems in the previous few months.

— “There is a sharp income divide in serious financial problems, as 59% of those with annual incomes below $50,000 report facing serious financial problems in the past few months, compared with 18% of households with annual incomes of $50,000 or more.

— “These serious financial problems are cited despite 67% of households reporting that in the past few months, they have received financial assistance from the government.

— “Another significant problem for many U.S. households is losing their savings during the COVID-19 outbreak. Nineteen percent (19%) of U.S. households report losing all of their savings during the COVID-19 outbreak and not currently having any savings to fall back on.

— “At the time the Centers for Disease Control and Prevention’s (CDC) eviction ban expired, 27% of renters nationally reported serious problems paying their rent in the past few months.”

These are not separate issues, and they are driving an explosion in homelessness.

The Zillow study found similarly damning data:

— “Communities where people spend more than 32% of their income on rent can expect a more rapid increase in homelessness.

— “Income growth has not kept pace with rents, leading to an affordability crunch with cascading effects that, for people on the bottom economic rung, increases the risk of homelessness.

— “The areas that are most vulnerable to rising rents, unaffordability, and poverty hold 15% of the U.S. population — and 47% of people experiencing homelessness.”

The Zillow study makes grim reading and is worth checking out. In community after community, when rent prices exceeded 32% of median household income, homelessness exploded. It’s measurable, predictable, and is destroying what’s left of the American working class, particularly minorities.

The loss of affordable homes also locks otherwise middle-class families out of the traditional way wealth is accumulated — through homeownership: Over 61% of all American middle-income family wealth is their home’s equity. And as families are priced out of ownership and forced to rent, they become more vulnerable to long-term economic struggles and homelessness.

Housing is one of the primary essentials of life. Nobody in America should be without it, and for society to work, housing costs must track incomes in a way that makes housing both available and affordable. This requires government intervention in the so-called “free market.”

— Last year, Canada banned most foreign buyers from buying residential property as a way of controlling their housing inflation.

— New Zealand similarly passed its no-foreigners law (except for Singaporeans and Australians) in 2018.

— Thailand requires a minimum investment of $1.2 million and the equivalent of a green card.

— Greece bans most non-EU citizens from buying real estate in most of the country.

— To buy residential housing in Denmark, it must be your primary residence and you must have lived in the country for at least 5 years.

— Vietnam, Austria, Hungary, and Cyprus also heavily restrict who can buy residential property, where, and under what terms.

This isn’t rocket science; the problem could be easily fixed by Congress if there was a genuine willingness to protect our real estate market from the vultures who’ve been circling it for years.

Unfortunately, when Clarence Thomas was the deciding vote to allow billionaires and hedge funds to legally bribe members of Congress in Citizens United, he and his four fellow Republicans opened the floodgates to “contributions” and “gifts” from foreign and Wall Street interests to pay off legislators to ignore the problem.

Because there’s no lobbying group for the interests of average homeowners or the homeless, it’s up to us to raise hell with our elected officials. The number for the Congressional switchboard is 202-224-3121.

If ever there was a time to solve this problem — and regulate corporate and foreign investment in American single-family housing — it’s now.

[andymoss]

One minute you're googling how to live in the car, the next hour browsing quarter million dollar homes and thinking, "I could make this work..."

[buckyclevens]

if I had a nickel for every time a friend and their partner (not married) bought a house together and then broke up I’d have 3 nickels which isn’t a lot but it’s enough for me to hope people realize that buying a house together is such a huge financial commitment perhaps bigger than legal marriage and you should really **really** be sure before you do that shit

[mybrainproblems]

.

[naplesgolfguy]

Why are there so few listings? Why is inventory half of what it was in 2019? One reason is 82% of homeowners with a mortgage have an interest rate below 5%. As a result, property owners feel "locked in" to their current home, which is unlikely to change until rates drop.

Whether you are trying to decide if now is a good time to sell or buy a property in SWFL, contact us today for all your real estate needs.

Matt Klinowski | Naples Golf Guy | Downing Frye Realty Here's to living the good life in paradise, Matt

[inshelliesworld]

This data is from when I was born to current. This is why my generation continues to struggle.

If you want to know why people have lost faith in capitalism, this might help

[brianwilder]

Exciting News from Habitat for Humanity of Greater Palm Beach County

Event Announcement

PALM BEACH COUNTY, FL– (September 4, 2024) Habitat for Humanity of Greater Palm Beach County (HFHGPBC) is excited to announce its annual Veterans Build event, generously presented by Vertical Bridge. This year’s event will take place on November 1, 2024, featuring multiple job sites across Palm Beach County. This significant fundraiser and community effort aims to support veterans and active service members.

Honoring Our Veterans

With nearly 76,000 veterans residing in Palm Beach County, Habitat for Humanity is dedicated to honoring these heroes by promoting homeownership. The Veterans Build program is pivotal in ensuring that veterans can achieve or maintain the American dream of homeownership, providing them with a secure and affordable place to live.

How You Can Get Involved

There are several impactful ways for the community to contribute to Veterans Build 2024. You can become a sponsor, participate in or organize fundraising activities and volunteer for building projects, or donate to the American Dream Fund, a special fund dedicated to Veterans Build 2024. Immediately following the build, join us for the American Dream BBQ at the Boynton Beach Arts & Cultural Center. This reception will celebrate the event’s success and honor the veterans and active service members in attendance.

Sponsor Spotlight

This year’s event is proudly presented by Vertical Bridge, a committed partner and champion for veterans in Palm Beach County. Ron Bizick, CEO of Vertical Bridge, stated, “We are honored to sponsor the Veterans Build with Habitat for Humanity of Greater Palm Beach County, marking our seventh consecutive year of support. Giving back and making a difference in our communities is profoundly important to us. Seeing the stability this housing provides to those who have devoted themselves to defending our nation’s freedom is especially fulfilling.”

Leadership and Committees

Veterans Build 2024 is co-chaired by Clint Lowe, Director of Engineering Transformation & Footprint Strategy at Carrier and U.S. Army Veteran, and Michael Maglio, Vice President of Industrial Sales at NuStar Building Materials and U.S. Marine Veteran. Both co-chairs are honored to lead this year’s event, dedicated to ensuring veterans in our community feel supported and connected as they transition from military to civilian life.

Habitat for Humanity of Greater Palm Beach County extends its gratitude to all sponsors, including Vertical Bridge read more

[sunilagrawalandassociates]

We trust Munna Bhaiya. Be wise like him and take the right decision of home ownership today! Contact now!!

[limesonspecial]

I could go on a whole rant about treating possessions as investment pieces to be maintained in mint condition for a hypothetical future buyer, but those cupboards don't deserve that. Bask instead in their glory and, if you like, meditate on the anxiety that causes us to treat ourselves as permanent renters.

society's infantilization of decorated objects is honestly one of the greatest recent crimes against humans' innate desire for beauty

[lovingazhomes]

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[truthgroup]

"Gymea Homeownership Unveiled"

Nicholas Parpis as Your Buyers Agentn + Mortgage Broker, and Property Expert” Embarking on the journey to homeownership in Gymea? Meet Nicholas Parpis, your comprehensive guide to securing your dream home. With expertise as a buyers agent, mortgage broker, and property specialist, Nicholas offers a unique and personalized approach to make your Gymea property dreams a reality. The Gymea…