This article really got me thinking. It talks about how 2.2 million first-time buyers have been priced out of the market since 2008. This information sparked an idea. I thought that if we could find a way to get first-timers to qualify again, we can position our economy to be resilient to any fluctuations that happen in the future.
After all, if you don’t own, you aren’t building equity (wealth). Albeit, the equity you earn from a traditional home loan is peanuts in the first five or six years, but there is a chance that your house will go up in value due to market conditions. The bottom line is we can’t rent forever. Unless you want to be in debt the rest of your life.
Here’s some info about our new Rent-To-Own program. Tell every college student, graduate student or renter you know. We all have to chip in and do something.