blog.noetech.com

Homeownership

Bush has this to say on homeownership during a speech about the economy:

Rising home values have helped take the wealth of American households to a new record level.

Yeah, the astronomical rise in property values is good, about as good as getting hit by a bus.

I make over $40,000 per, putting me safely in the middle class, and there's no way I can buy a house in the city I live in (at least not in a safe neighborhood). I pay 20% of my income for a studio apartment for God's sake. There used to be a time in this country that if you worked hard you were able to buy a house. Now, unless you have family to help you, you can't buy a house until you're safely in the upper class. Things are probably different in small towns, most of my hometown friends own homes, but something needs to be done in the cities.