Housing

[Lyerly]

Since my accident I have moved around a lot and am trying to buys house but have struck out on 2 offers so far in Charlotte NC. It looks like with my lease expiring in mid July I may have to get a short term lease.

I am told that your avg 700 sq ft apartment outside of the uptown/downtown areas is $750-850 which is like a mortgage on a $130-140K home. It is like this in a lot of the country. It's greedy apartment owners especially large national companies.

Most places require 3 x the rent. What to people whose current incomes are solely or mostly off of SSDI do? I know you can get a cosigner but what if you don't have one?

[Andy]

I dunno about greedy, most apartment operators treat it like a business, not a charity. And there are taxes, upkeep, etc etc etc etc necessitating this. 3X income/rent is pretty standard, sign of affordability. I'd look into sec8 type programs if this is not possible and you cant find someplace accepting of the finances available

[Lyerly]

I am fine with finances and am trying to buy a house but was curious what people would do if they only had SSDI. Thankfully I don't have any debt so I have been able to come close to paying almost all my monthly rent and bills off of it but it isn't 3 x's most places rent.

Maybe it's not all about greed but rents continue to rise and be held high and they can do that bc so many people have to rent bc they can't qualify for loans to buy a house.

[russianboss]

Its crazy for sure. Currently also looking for a house in Charlotte, I would not be able to afford anything with out my parents. Our rent went up every year for the last 6 years I been here. Good luck.