From REALTOR® Mag:
Although government guidelines call for spending no more than 30 percent of your income on housing, more than 20 million people pay as much as 50 percent, making it virtually impossible for them to get a leg up on the home ownership ladder, much less afford the necessities of life.
“That’s a real problem, because it puts so many people out of the market from ever owning a home,” said course instructor Linda Kody, broker-owner of Kody & Co. Inc., in North Andover, Mass.
Increasing home ownership was the challenge presented to a group of REALTORS® from around the country who attended Expanding Housing Opportunities, a course that trains practitioners to help qualified prospects realize their part of the American dream.
Course attendees, representing a geographic cross section from California to Delaware and Minnesota to Texas, identified similar conditions— low inventory, bidding wars, flat income, appraisal problems— impeding the development of affordable housing for working families across their markets.
Read the full post by Christina Hoffmann.