Difficulties of Home Buying in America
Every american not sunk in poverty has assumed for a quarter-century or more that he could buy a house, if he so chose, as often as he moved. And that is often, because the Census Bureau reports that one American family in five changes its place of residence every year. For some time now, however, those who still clung to the notion of easy access to home ownership have been in for a rude awakening.
“The single-family home is moving into the category of a luxury item,” a New Jersey builder said recently. “In the market where our company is building today—and it's typical in this regard—a family must have close to a $14,000 income to be able to buy ...