SFR is “the darling of real estate,” says Mark Wolf, chief executive of AHV Communities, a company with more than $1.6 billion worth of single-family rental homes under management and development in six states including Colorado, Texas and Tennessee.
Emily Jewell says despite their good credit, she and her boyfriend weren’t approved for a mortgage because “most of our income comes from tips and side gigs not reflected on our W-2 forms.”Communities are springing up especially in the Sunbelt. Units typically feature three-bedroom homes with two bathrooms, a family room, a large fenced-in yard, and two-car garage.
Emily Jewell, a 25-year-old bartender and makeup artist in San Antonio, says she and her boyfriend, Danny Perez, were denied a mortgage for a starter home. “We have high credit ratings but most of our income comes from tips and side gigs not reflected on our W-2 forms,” she says. “Loan officers weren’t comfortable approving our application.”
REGULATE BETWEEN NEED AND LOAN. HIGHER MORTGAGE LOANS MEANS HIGHER INSTALLMENTS TO BUYERS. REGULATE LOANS AVAILED WITH SOURCES OF INCOME. ENSURE BORROWERS NOT COME UNDER DEBT TRAP, NOT FORCED TO EARN MORE. LEND ONLY FOR EARNING, INVESTMENT, EDUCATION BUT NOT FOR LAVISH SPENDING.
Rich get richer. Normal people broke for good. Go brandon
So much for the American dream. (shrug)
As LLC buy up for single family homes in all cash deals families are forced to rent single family homes with rents 3x what the mortgage would be that at rising interest rates make it IMPOSSIBLE for people to buy a home EVER.
The problem is, rates have been low for so long that people don't realize there are other options to lower your mortgage payments such as arms and paying for points down. These aren't a scam and have been around for decades.
“You will own nothing and you will be happy”
That is why I will not sell my house. I get offers all the time, but nope.
Problem is most rent is the same price as paying a mortgage.