Renting and Owning

On July 26, the Census Bureau reported home ownership rates fell 66.9% in the second quarter. The first quarter indicated a 67.1% home ownership rate. This is the lowest home ownership rate to be reported in eleven years.  Vacancy Rates for owners fell 2.5% in the second quarter and vacancy rates in rental homes remained at 10.6%.

What does this mean? People can not make payments or get loan approval.  Home ownership is difficult due to job loss, debt and high credit standards for loans. Renting is becoming more common as people simply can not get approved for mortgages.  Home ownership creates other expenses: property tax, insurance, school tax, water bills, sewage removal and more.   The pressure of home ownership is too much in an economy where people are barely making the money they need to survive. Homes often need  maintenance and home repairs are expensive.

Renting is becoming necessary as the American dream, defined as home ownership becomes impossible for most regular Americans. 

Whether you rent or own, you will have bills and need a way to pay them. Everyone needs a paycheck and a place to live. Everyone needs useful credit so that they can qualify for a rental agreement or mortgage.

Have you been effected by this economy or job loss?
Do you need to restore your credit so that you can get approval for a place to live?
You can get the information you need- for free.
It is important that every consumer has a chance to understand their current credit score and credit potential. 
Innovative Credit Consultants provides each individual with one on one attention and a free credit report evaluation and credit repair consult.