Reply to We need homes. A lot of homes. Not just affordable, but also middle-income homes.

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Reply to "We need homes. A lot of homes. Not just affordable, but also middle-income homes."

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]You know, 20% of a $400k house is still $80k. That’s a lot to save on $108k household income (median for MoCo). I love how our definition of “affordable” has ballooned. [/quote]
So? There are options there as well.  One can get an FHA mortgage with 5% down (it might be as low as 3.5%), meaning all they need is $20,000. With an income of $108,000, they can save that in two or three years if they put their minds to it. And true, they'll have to pay PMI, but I had to do that with my first place, too.

What is it with all these people and the excuses for why people can't buy a home? And who says it has to be a single-family house? What's wrong with a 3-bedroom townhouse with two full bathrooms - one for the parents and one for the kids? Until I was 13, we lived in a house of five people with 1 full bathroom (plus a half-bath by the rec room). Way too much entitlement these days.[/quote]

Because there is demand at the low end that can never be satisfied as the politicians moved to eliminate that low end housing. Currently, the board is desperate to replace a couple trailer parks along Route 1. Those homes will be replaced with smaller apartments (rental only to ensure you don't build equity) and "middle income" townhouses. The trailer park home owners will be displaced becasue with a government subsidy, they aren't going to be able live in the same location. [/quote]

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