What's the hardest part of affording a home?

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  • Way of the Warrior Arlington, WA
    July 6, 2014 9:55 p.m.

    I've followed the local real estate market closely for the past couple years and have noticed home prices sky rocket over the past year (I live on the edge of the Seattle metropolitan region). Now all 200k gets you up my way is a one-bedroom, one-bath home that's at the end of its economic life. I'm not sure how prices can keep rising so quickly when wages aren't going up.

  • What in Tucket? Provo, UT
    July 6, 2014 8:27 a.m.

    In past years one hoped their children would do better, but not since Obama took over. REd tape, high taxes, including the world's highest corporate tax rate, complicated tax structure, enormous social spending, deficit spending are restraining the economy. We have too many on welfare and govt assistance. There are jobs going untaken.

  • 10CC Bountiful, UT
    July 2, 2014 1:48 p.m.

    Median income has been very sluggish since 2008.

    And many people have realized, post 2008, that a home is not necessarily an investment. It is shelter first & foremost, but expecting to make a lot of money on your home appreciating in value is not realistic.

    Utah did not get hammered the way Las Vegas and southern California were in the Great Recession. A co-worker bought a house in Vegas that had last sold for $380,000, for $85,000. Definitely not an investment.

  • RedShirt USS Enterprise, UT
    July 2, 2014 11:07 a.m.

    To "Strider303" there are actually lots of "starter homes" out there. The problem is that many young couples want to start in a home just like their parents currently own. They don't want the small house. Another problem with the "starter homes" out there is the location. Yes you can get that 1500 sq ft house for $100,000 that is located in high crime area. But, would you want to live there?

  • Strider303 Salt Lake City, UT
    July 2, 2014 9:41 a.m.

    The article was shallow and did not shed a lot of light on the issue - home ownership, in my not too humble opinion.

    I think the author(s) should have discussed lack of what used to be called "starter homes" i.e., two or three bedrooms, one bath, modest living space and carport. Another issue is the mortgage payment to income percentage, and other long term debt payments the potential owners carry. A third factor could be ability of purchaser to set and follow a budget, short and long term.

    It would have been nice to see the incomes of the potential buyers and costs of dwellings being sought. Many times our home "eyes" are bigger than our pocket books.

    I did not find the article that helpful or interesting, and we will purchase a home within the next year.

  • sally Kearns, UT
    July 2, 2014 8:15 a.m.

    We have found if we are in the habit of regularly saving money, the process of purchasing a home is just not that difficult. Also, maintaining it isn't a problem. It requires smart money management. It is really about making choices as to where we spend our money and time. The biggest issue we have had to deal with was dealing with incompetent real estate people. A good real estate agent should be able to assess what we are looking for and not waste our time with showing us garbage homes in scary neighborhoods just because it is a home they have listed. I remember having to take the phone from an agent so that I could complete the closing details.

  • Y-Ask-Y? Provo, UT
    July 2, 2014 6:36 a.m.

    What's the hardest part of affording a home?

    Oh, I don't know, maybe the money?

    Is this a trick question?