NEW HOMEOWNERS DAY, NTL.
Categories: Real Estate, Lifestyle & Finance & Banking
Location: United States
Type of Event: Daily Event
Updated: May 06, 2024
Location: United States
Type of Event: Daily Event
Updated: May 06, 2024
About New Homeowner's Day
National New Homeowners Day has no origin, sponsor, government agency or official company behind it. It appears to have suddenly appeared on the Internet over this past year.
However, it is a good idea for an awareness day.
In 1960 the average home cost a family 3.5 years gross household income. Today the average home in markets like Los Angeles can cost a family 9-12 years gross household income...for the same house. With the housing crisis of 2007-2013 and the mortgage scams, a lot of people lost their homes. Today, a large percentage of homes in desirable markets are being bought by investment groups rather than families. This is slowly creating a generation of renters rather than owners, and it is a disturbing trend.
New Homeowners Day might be a great day to sit down and look at the cost of housing in relation to stagnant wages and consider ways to make housing more affordable. Owned homes create better communities. People invest in their homes, put down roots and focus on the future. That is less likely to happen with renters. If you're lucky enough to own your own home, pat yourself on the back today. If you're one of the 10s of millions trapped in rentals and looking for a way out, consider this an opportunity to begin addressing the issue of housing in your market and find out exactly why you must now pay an average of 9-12 year's gross salary for the home your parents purchased with just 3.5 year's gross household income just 50 years ago. Though obviously a made up day by someone out there on the Internet, given the seriousness of housing, it could become important.
Curious about the costs in buying or renting? See the Buy vs Rent calculator from the US Government at: http://www.ginniemae.gov/rent_vs_buy/rent_vs_buy_calc.asp
However, it is a good idea for an awareness day.
In 1960 the average home cost a family 3.5 years gross household income. Today the average home in markets like Los Angeles can cost a family 9-12 years gross household income...for the same house. With the housing crisis of 2007-2013 and the mortgage scams, a lot of people lost their homes. Today, a large percentage of homes in desirable markets are being bought by investment groups rather than families. This is slowly creating a generation of renters rather than owners, and it is a disturbing trend.
New Homeowners Day might be a great day to sit down and look at the cost of housing in relation to stagnant wages and consider ways to make housing more affordable. Owned homes create better communities. People invest in their homes, put down roots and focus on the future. That is less likely to happen with renters. If you're lucky enough to own your own home, pat yourself on the back today. If you're one of the 10s of millions trapped in rentals and looking for a way out, consider this an opportunity to begin addressing the issue of housing in your market and find out exactly why you must now pay an average of 9-12 year's gross salary for the home your parents purchased with just 3.5 year's gross household income just 50 years ago. Though obviously a made up day by someone out there on the Internet, given the seriousness of housing, it could become important.
Curious about the costs in buying or renting? See the Buy vs Rent calculator from the US Government at: http://www.ginniemae.gov/rent_vs_buy/rent_vs_buy_calc.asp
PROMOTIONAL DETAILS
Event Sponsor:
Unofficial Holiday, no sponsor. See HUD for information on housing costs, rental trends and availability.
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