Man I got in at the sweet spot when BoA was selling bank repos. My house doubled in value in 5 years. I knew it was going to fly back up because all my life housing has always been expensive to own.
Russian women are hot!
FIRST-TIMERS AND BOOMERANG BUYERS
A year ago, the odds seemed against Lindsay Bell or Hazel and Ralph Lacanienta becoming home owners. They'd lost their house to foreclosure in 2011. And she was a teacher's aide making less than $34,000 a year who'd never even owned a credit card.
But now Lindsay, 28, a single parent with a 9-year-old daughter, owns a condominium in a gated community with a pool and a gym. And the Lacanientas and their three kids have a three-bedroom house in the region's most prestigious master planned community.
Their experience shows how, despite the end of the national policies that pumped up homeownership, some people are becoming homeowners through a combination of personal thrift, institutional aid and sheer persistence.
In 2012 Lindsay sought help from Neighborhood Housing Services of Southern Nevada, a non-profit that received grants from Wells Fargo and the Federal Home Loan Bank of San Francisco to help first-time home buyers. Lindsay completed a course on how to buy and maintain a home; saved $6,000 for a down payment; and received $30,000 toward the purchase of the house, on the condition she not sell for five years.
After three years of saving, looking, and living with relatives, she bought a two-bedroom condo with an attached garage for $105,000. Her monthly mortgage payment is $337, which she says is cheaper than renting and allows her to save.
Paying rent is "like giving money away,'' she says. "I want my money to make me money.''
She revels in the memory of her daughter Ayden running to claim her bedroom; turning cart-wheels inside the empty living room; and hosting sleepovers for the first time.
This home, she says, is her legacy — "something I can give to my daughter.''
THE DEMISE OF THE DREAM?
America, we've long told ourselves, is a nation of homeowners. It's part of our national credo: A family that owns its home cares for it and improves it, luxuriates in its memories and profits from its sale.
A home is a comfort, a burden, an investment, a status symbol. Above all, as Bryan Severance says, it's yours.
But now this most tangible measure of the American Dream is in doubt.
Consider the Millennials. Although a MacArthur Foundation survey this year found that 88% aspire to own a home, and 53% say it's a high personal priority, relatively few are following through.
Homeownership among households headed by those 30 to 34, which was above 50% for decades, is at a record low 45%. The first time homebuyer's median age, once under 30, is now almost 33.
NORTH LAS VEGAS, Nev. — A decade ago, when 5,000 settlers a month were arriving in this valley, the suburban frontier moved out into the desert so fast the zip codes couldn't keep up.
Then came the financial crisis, and the frontier stopped at places like the back fence of 4132 Recktenwall Ave.
The four-bedroom house there, meant to be owned by its residents, is today a rental. And the Severance family, meant to be owners, are its $1,365-a-month renters.
It's all part of a national shift away from home ownership and toward renting.
Renting is dumb. I did it for 20 years.. I waited and waited for the Vegas housing crash and it came in 2010. I got in for 80K, and now my home is valued at 175K. I love being a home owner.
They are a crack pot Silver miner.
She was soo very happy..making 200K on her lifle long DOW shares.