[shedav]

CorpITGuy, I am not just talking about living near the water it is expensive throughout the US and people are strugglling. I dont necessarily agree with the middle class is becoming rich some may be but many arent. The middle class gap is getting smaller and if you do any bit of research you can find information. Like I said before in an earlier post it is even being taught in college. I also see that because even middle class wages arent keeping up with inflation many are having to work long hours in order to stay ahead. I know many times the middle class is said to be the working poor.

[CorpITGuy]

I think I know what you're getting at, and that's more of a political discussion than one about Florida.

The average middle class American works just under 50 hours per week (47 or 48, I think). I work 60+, so I'm having a tough time feeling sorry for that "average" person.

We Americans have trouble making it and have to work extra hours because we're not good with our money. We spend our money on iPods, Blackjacks, laptops, big screen TVs, big houses, huge yards, new cars, boats, etc. Oh--and we take out loans on all of it. I'm as guilty as anyone.

Personal finance is the problem--not Florida.

[Ben Around]

Originally Posted by CorpITGuy

The average middle class American works just under 50 hours per week (47 or 48, I think). I work 60+, so I'm having a tough time feeling sorry for that "average" person.

A little off topic here, but I was interested in one of you assertions, CorpIT. Not sure I get your point. Are you saying you must work 60+ hours a week to make it and you resent those who work less yet are able to pay their bills? If you are in IT, seems like you'd be able to find a different job with less demands on your time. Or are you working this excessive schedule because you need more income to maintain a lifestyle you couldn't otherwise afford? Either way, resenting those who work less to make ends meet will only add to your stress!

[Prichard]

Prichard I'm confused by this. Are you saying a family with 28k income can get into a 150k house through a special program? How could such a family afford that? Are they giving a grant to cover half the price of the house? The math isn't making sense to me Could you explain how this works?

First of all, just being able to purchase a new 3/2 concrete block and stucco house with a small porch, some vaulted ceilings and tile kitchen for $150,000 is quite a break. That same house would normally cost at least $250,000 in the same location. There are formulas that are used to determined whether you or your family qualify - I don't know all of the threshholds. I said that an individual should be able to afford a $150,000 house on $28,000. And, there are several diffeent kinds of programs: HAC sponsored neighborhoods, down payment assistance, State bond money dispensed through the individual counties, USDA Rural Development loans, and several others. These programs are geared toward giving lower income people, who have never owned a home, a chance to own a home, if they are working. I know of single mothers, married couples, single men and women qualify for these programs. However, I've not been directly involved in the qualification process for these programs.

What I do know is that they would not be very interesting for people who are college educated, or who have thriving careers, businesses or good paying jobs. Young people on an upward income track might be candidates, but probably won't be all that interested. Working class people who really want to own their own home, but financially just can't cut it would be the best candidates.

[summergal]

Originally Posted by Prichard

First of all, just being able to purchase a new 3/2 concrete block and stucco house with a small porch, some vaulted ceilings and tile kitchen for $150,000 is quite a break. That same house would normally cost at least $250,000 in the same location. There are formulas that are used to determined whether you or your family qualify - I don't know all of the threshholds. I said that an individual should be able to afford a $150,000 house on $28,000. And, there are several diffeent kinds of programs: HAC sponsored neighborhoods, down payment assistance, State bond money dispensed through the individual counties, USDA Rural Development loans, and several others. These programs are geared toward giving lower income people, who have never owned a home, a chance to own a home, if they are working. I know of single mothers, married couples, single men and women qualify for these programs. However, I've not been directly involved in the qualification process for these programs.

What I do know is that they would not be very interesting for people who are college educated, or who have thriving careers, businesses or good paying jobs. Young people on an upward income track might be candidates, but probably won't be all that interested. Working class people who really want to own their own home, but financially just can't cut it would be the best candidates.

I agree, 150k for a 3/2 concrete house is a good price in many areas. I just think that 28k is not nearly enough income for that large of mortgage though. I was just curious if the programs have adjusted to the higher home prices or if the lowest home prices were too high to be attainable even with the special programs. It would be interesting to know if the programs are actually still working since the prices have gone up or maybe the numbers of applications have declined. I know Habitat is very active here, now you have me curious about what they charge their homeowners.

I read somewhere, maybe on the HUD website?, that there are special deals for teachers where they will sell a HUD home for $1. Have you heard of this?

[MaryLou2007]

Originally Posted by summergal

Prichard I'm confused by this. Are you saying a family with 28k income can get into a 150k house through a special program? How could such a family afford that? Are they giving a grant to cover half the price of the house? The math isn't making sense to me Could you explain how this works?

Two things:

1. WHERE is a house for sale in central Florida for $150k??! Unless it's a trailer or pre-fab home, there is no such thing. The cheapest houses we werre able to find were $199,000 and in Mexico... I mean Kissimmee/Poinciana.

2. If you make $28,000, HOW can you pay the mortgage? Unless you are taking out a "magic loan" (you know, one of those loans where you pay like $600/month and then all of a sudden your payment jumps to $2,000/month and you get forclosed upon), there is no way!

My receptionist just got a house for $255,000 near Disney Village area and it's atiny tiny house (1,100 sq ft) and their mortgage (not inlcuding the property taxes, they didn't get factored in to create the illusion of a "low payment") is $1,600/month. The mom works 2 full time jobs and takes pills to keep herself awake and the 2 daughters (that still live with her in a 2/2 house) work and both chip in.

Again, where is this $150k house for sale and how can you afford it with $28k income?

Sounds like wishful thinking...

[pslOldTimer]

Originally Posted by MaryLou2007

... and in Mexico... I mean Kissimmee/Poinciana.

I resent your obvious prejudice and suggest it is out of place on this forum.

[MaryLou2007]

Originally Posted by pslOldTimer

I resent your obvious prejudice and suggest it is out of place on this forum.

There is no prejudice. I am sorry this is America, we speak English. Most people do not feel comfortable with people yelling in Spanish 24/7. It makes people feel uncomfortable.

Just because I think Kissimmee/Poincianna is just like Mexico doesn't mean anything to you. It is my opinion.

Please do not come attack me because you disagree with me. That is not very nice.

[Need_affordable_home]

Originally Posted by MaryLou2007

Two things:

1. WHERE is a house for sale in central Florida for $150k??! Unless it's a trailer or pre-fab home, there is no such thing. The cheapest houses we werre able to find were $199,000 and in Mexico... I mean Kissimmee/Poinciana.

2. If you make $28,000, HOW can you pay the mortgage? Unless you are taking out a "magic loan" (you know, one of those loans where you pay like $600/month and then all of a sudden your payment jumps to $2,000/month and you get forclosed upon), there is no way!

My receptionist just got a house for $255,000 near Disney Village area and it's atiny tiny house (1,100 sq ft) and their mortgage (not inlcuding the property taxes, they didn't get factored in to create the illusion of a "low payment") is $1,600/month. The mom works 2 full time jobs and takes pills to keep herself awake and the 2 daughters (that still live with her in a 2/2 house) work and both chip in.

Again, where is this $150k house for sale and how can you afford it with $28k income?

Sounds like wishful thinking...

I can name PSL as one example. Daytona beach is another.

http://homepics.realtor.com/image1/http/orlando/listings/large/090/v4599472_101.jpg (broken link)
$150,000
3 Bed, 2 Bath
1,828 Sq. Ft.
0.23 Acres

You can easily get an Orlando house for $150k or less, just gotta look around

http://homepics.realtor.com/image1/http/orlando/listings/large/041/r4585752_101.jpg (broken link)
$136,900
3 Bed, 1 Bath
1,072 Sq. Ft.
0.23 Acres

http://homepics.realtor.com/image1/http/orlando/listings/large/041/o4728679_101.jpg (broken link)
$149,000
4 Bed, 2 Bath
1,264 Sq. Ft.

1. Those houses are NOT trailors and still are under $150k. The cheapest house you found was $199k? I found dozens of houses for under $150k
2. You will need two incomes to afford one of those $150k houses. Either work two jobs or share the house with someone(wife, brother, roomate, etc)
Or maybe you can find a handyman forclosure special and save 50% so that $150k house becomes $75k plus costs and time for repairs. Banks are willing to let those go cheap because they arent in the real estate business and also the banks dont want to pay the costs of repairs so they pass the savings to you and the repairs become your job, not the banks.
3. Wow your receptionist seems to have bought more house than she can afford. Work two jobs and use drugs to stay awake? What kind of life is that? Also thats a very expensive location she bought in, such a high price for a tiny house
4. You just have to look around. I think many people just buy the first house that looks nice and miss all those better deals. In another thread, one lady was upset she couldnt find a $200k house in south FL and PSLoldtimer came to the rescue. She ended up buying a nice 2020 total square feet newer house for under $200k. There are houses like hers for even cheaper if you dont mind an older house or some minor cosmetic repairs. Alternatively, you could get a forclosure for far less.

[bmurphy]

Pictures don't tell the whole story NAH. Yes, it's cool you located housing in Florida and may give up on Oil City or whatever - but be advised - pictures don't tell the whole story. They could very well be a in ghetto. It's not like the developers build houses thinking "these are for ghetto people", so the houses may look great, but you may have bad neighbors because of the cheap housing for the location. Careful...

Assuming you know that, go for it. You said you want a little more "winter"; why don't you go to Jacksonville, or a suburb? They do at least a frost a few times a year, so your lawn would be "white" I guess. It would at least be a taste of winter.