An increasing number of renters are worried they will never be able to buy a home, with many pointing to the lack of affordability as the main culprit, according to a survey released Friday by Redf…
Then include rent in the income-to-expenses measurements for home loans? Getting rid of that portion is the whole point! Hell, someone paying stupid high rent is the best evidence they could have that you’ll be able to pay back their loan since you have 55% of your income already dedicated to housing that will be freed up and available without changing your lifestyle. They should worry more the smaller that percentage is.
Then include rent in the income-to-expenses measurements for home loans? Getting rid of that portion is the whole point! Hell, someone paying stupid high rent is the best evidence they could have that you’ll be able to pay back their loan since you have 55% of your income already dedicated to housing that will be freed up and available without changing your lifestyle. They should worry more the smaller that percentage is.
Your argument makes perfect sense. If the entire loan industry weren’t a racket, it would be persuasive.