My ponderings are now becoming obsessions. Why? Well, because I do not have a stable secure place to live. I have to rent, on a low income (less than 50% of the Federal Poverty Guideline) in a place where rents are not affordable. Yet, there are houses advertised for as low as $10,000 on real estate websites. However, if a low income person wants to buy one, banks will say it is not worth it to us to finance you. So, investors buy them, flip them, or rent them at robbery rates.... Leaving a low income person to try to pay up to 80% of their income for rent, leaving no $$$ for utilities, food, etc. In fact, one cannot even rent because one does not have the 3-4 times the rent income required to rent. So, tell me, people, what kind of madness is this? nationalhomeless.org/factsheets/why.html
Posted on: Sat, 18 Oct 2014 15:57:44 +0000
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