Nov 08 2010
Buying A New Home Not Such A Great Idea
Posted by admin
Buying a new home is now changing in the market, after the recent increase in interest rates and strict mortgage loans. A new report by National Association of Realtors has found that 27 percent of first time buyers who have bought homes during 2009 and 2010, have had a huge amount of financial support from friends and family members to help pay the down payment.
However with the huge unemployment rate and change in the housing market, this is going to change for the next five years at least. A large portion of those who also bought within these years are now struggling to meet the payments on a monthly basis. You can read more about this here.
Photo source TheTruthAbout