Home prices are rising at a faster pace than wages, making it difficult for the average income earner to afford a home. In some ZIP codes, the discrepancy between earnings and home prices is even.
Rachel Cruze is a financial expert skilled in guiding people through the steps to paying off debt, setting a budget and saving an emergency fund. She recently shared her real estate insights with finance consultation site Ramsay Solutions, breaking down the 10 steps you should follow to buy a house without compromising yourself financially.
For most Americans, a home is the biggest purchase they make in their lifetimes, and mortgage payments typically take up the biggest percentage of the family budget. The numbers don't lie acording.
Wealthy millennials (i.e., people born between 1981 and 1996) are moving, ditching such traditionally attractive cities like New York and Los Angeles for other locales with better benefits. Indeed,.