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Americans Shut Out Of Home Market Threaten Recovery: Mortgages

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http://www.bloomberg.com/news/2014-03-05/americans-shut-out-of-home-market-threaten-recovery-mortgages.html

Kirk Rohrig is concerned he may soon join the growing ranks of Americans shut out of the housing recovery and the financial benefits that spring from it.

Rohrig, who is unmarried, began hunting in November for his first home in Portland, Oregon, where cash buyers are driving up property prices. The software support specialist earns about $55,000 a year, has a high credit score of 790 and can’t find anything worth buying for about $200,000.

“Even fixer uppers are out of my range,” Rohrig, 33, said. “I went to look at a house that was garbage. There were cracks around all the windows and full condensation on the inside. It was on the market for $225,000.”

Yep property is the Plan A, B, C, D, E, F etc... plan for economic growth, it's the only way to create wealth.

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