Anyway, here’s the deal and something I have learned recently.
First of all – home ownership is good for America. It’s what builds communities and identities. It’s good for the economy. It gives people and families something to strive for – and it’s worth striving for.
Allow me to relate (2) recent experiences:
1. In January I decided to look for a rental house in San Diego to be closer to work. In going through this process I (IMO) encountered some really unpleasant people in the property management business.
Experiences like that help one appreciate home ownership (even if you are renting it from the bank).
2. 10 years ago the community I live in was primarily owner occupied. Fast forward 10 years and now our community is primarily renter occupied and there is much less of a sense of community IMO. No more block parties, U-Haul trucks appearing weekly – very transient.
We have to take calculated risks. For buyers with strong credit profiles, 10% down and good ratios I think that’s a risk worth taking given the benefit to the buyers and the community.
