The United States has a problem. It's a housing issue that if not corrected could doom entire generations to renting shelter for the rest of their lives. It also hinders them from gaining wealth in our country. This will result in investors owning most if not all the residential property. You know the saying "You'll own nothing and like it". Under these conditions, does anyone have a choice as to liking it?
In 1979, I purchased my first home. I was a lowly E-4 in the US Army and I bought it using the VA loan rogram. The home was $43,500,00 with a ten percent / thirty year fix mortgage. It was a small home around 1300 square feet with a two-car garage. My monthly payment was $382.00 plus taxes and insurance. Total payments came out to around $423.00 a month. That amount represented about half of my monthly take home pay. That same home today is selling for around three hundred thousand with a seven precent / thirty year fixed mortgage. Mortgage payments alone comne to around $1,996.00. Thats not counting taxes and insurance. That's almost 75 to 80 percent of most individuals monthly income. Most young couples can't qualify for that, so they end up renting, forever!! Unless they win the lotto or inherit some big money, they're stuck in the renter's loop. They become poorer and become part of the fading middle class. As a Nation, this is unsustainable. It creates the have's and have not's which erodes the drive of the young generations. They believe that there's not point in working if they can't afford it. So they shut down and a Nation dies.
Three things need to happen in order to correct this future outcome. One, housing needs to get smaller for young couples and individuals to start out in. Two, city regulations need to be adjusted and city building fees need to be lowered. In some major cities, it takes almost twenty thousand in ermit fees to build even the basic size home. Can you image what the fees are going to be in California after the LA fires? Most people just got burned out of their homes for good. Three, cities are NOT a business and they need to stop acting like one. They are there to promote health, clear water, fire and police protection and measured growth within the city. Not pile on regulations and fees that drive the cost of home ownership up and make the city rich.
I propose allowing tiny homes into inner city and rural areas that provide inexpensive alternatives to traditional housing. Housing modules that can be added on as the need arises. If a person or couple can buy a tiny home for $600.00 a month in payments versus $1,500.00 a rent payments, which one do you think they'll pick? This also allows them to start gaining wealthIt may be slow but it's still growing.
At Capitol Renovations, we believe that everyone should have a chance at owning a home. Even if it is a starter tiny home. We build tiny homes to a customers specifications and can deliver them in most areas of Texas. We use only top materials and treated wood for long lasting buildings.
Give us a call if you'd like to see what we can build for you.
Capitol Renovations, LLC
512-630-6390
