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More Expensive To Rent Or Buy?

By The Associated Press
.

A new report says renters in Alabama spend more on housing costs than homeowners and many lack enough income for affordable housing. More Expensive To Rent Or Buy?
Published: Thu, July 24, 2008 - 12:47 pm
ANNISTON, Ala. (AP) - A report by advocacy group Alabama Arise
has found that the state's 500,000 renters spend more on housing costs than homeowners and many lack enough income for affordable
housing.
The study titled "Locked Out: Low Wages and Affordable Housing
in Alabama" was released Wednesday and blames the housing struggle
on low incomes and the rising cost of living.
Senior Alabama Arise policy analyst Ron Gilbert wrote the report
and said the numbers could get worse over the next year.
The study also found that 48 percent of renters in Calhoun
County couldn't afford the fair market rent of $526 a month for a
two-bedroom apartment.
Gilbert said the situation could be improved if the efforts of a
housing trust fund task force that the Legislature created this
year are successful.

(Copyright 2008 by The Associated Press. All Rights Reserved.)

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Thanks for the info!  I will look into that option.

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There are people that lease homes with the option to buy.  If you decide to buy the money that you pay in rent will go towards the downpayment on the home.  Rent is typically higher than mortgage b/c owners have to pay their mortgage and the insurance and make a little money. 

After a lease is up on an apartment of house you should be able to go month to month rather than signing a new lease.

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You’re sooo right about that cmb!  Some sounds should stay within your four walls!

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They need to insulate better in apartments!

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Chellie, I’ve heard the whole bed moving upstairs before!  I thought about taking my broom and beating on the ceiling. They’re like animals up there!  LOL

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So, you are saying that she proved she was disabled and had a low income in order to qualify for Supplemental Security Income (SSI)? Also, your neighbor somehow proved that her kids and grandkids were disabled as well? You don’t think the administration did enough research on their cases?

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They allow to many people to stay on governement assistant 2 long.  I’ve know a lady thats been on assistant SSI since I was 3 and now I’m 31. She was able to get all three of her daughter’s on SSI, while they lived at her residence. All 3 are grown, one works with FedEx in California, second one works at Hardee’s, third one works in a drug rehab as a counsler! She adpoted her daughters two kids and got them on SSI! Can I say she knows how to work the government! Just act dumb she can get you anything you want. It burns me to no end that she will fight tooth and nail to get anything for FREE..and our people let her get away with it....*BS* I love her like a second mom, but its not right in my opinion!!!!!! When I’ve known of people in real need that can’t seem to get it when they truely need it....

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LOL, I’m with you on that one, the gentleman that lives under me, makes the floor shake when he slams his doors, has his tv or whatever so high that I can feel the vibrations thru the floor, I’m also convinced he’s insane, because he goes on little tirades and he screams at nobody. Plus I’ve been wanting to ask my next door nieghbor if she could move her headboard away from the wall jus a little more. aahhh, the excitement of apt life!!!

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No, I’m on a year lease now, which will expire in October.  I was trying to have a house by then, but I guess I will have to renew for 6 months because I don’t think I can go for another year listening to my upstairs neighbors peeing in the toilet every morning! ! !

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DeterminedOne, You only have six month leases? Dang, now that IS expensive?

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