– First time home buyers might be able to *buy* a house, but they can’t afford to *keep* the house. Especially if the ARM adjusts, there are taxes/HOAs not accounted for in the calcs, and they have an unexpected bill that puts the 40% threshold to close to the edge.
.. Heaven forbid they have normal things happen, like unpaid maternity leave, a car break down, etc…[/quote]
Did anyone else see the NAR economist story in the U-T today?
