The fact is that there are more and more renters. I rarely see a rental sit for a full month without renting. So the land lords are really scrutinizing renters.
Not everyone can buy, but a lot of people can buy and do not know it. In many cases it is easier to buy than rent if you can prove your income. Many times you can buy approximately the same property as you would rent, with approximately the same out of pocket getting into the house.
Give me a call at 714-968-2500, I am much more likely to approve your loan then most lenders, and my rates are usually lower.
One thing that stops a lot of people, is that if they only can rent a small apartment, they will not buy the equivalent condo. No, they need an ocean front mansion, for same money or they are not buying. The thing to realize is that if you buy you can build equity and use that equity to buy a better house in the future.
It is scary to buy, I get it, but think about this if you buy you:
1. Build equity.
2. Have appreciation and have a chance at making a profit when it sells.
3. You get a tax right off.
4. You can lock in your payment, as you know rents do nothing but go up and up.
5. You will have an asset to draw money from when needed.
6. Finally, one day you pay off a house, you never pay off a rental.
If you rent
1. Your landlord can raise the rent almost at will.
2. Kick you out of the house for any reason with a 60 day notice.
3. Has you paying for their house.
4. Can come into your house anytime with a 24 hour notice.