Tough-to-crack housing market has U.S. buyers eyeing second jobs

According to a recent poll, would-be homeowners are becoming inventive — or desperate — in how they plan to save for down payments and purchase homes.

Many Americans would consider taking on a second job, opening an internet company, or selling some of their possessions in order to purchase a home.

 

For the past two years, the property market in the United States has been on fire, leaving many first-time buyers on the sidelines.

Following a rise in mortgage rates, it is now even more difficult to find inexpensive residences.

According to a Bank of America study issued Thursday, respondents cited high home prices (56 percent), increased interest rates (40 percent), and anxiety about affording closing expenses (30 percent) as reasons they would be hesitant to buy.

More over a third of those polled believed the "pressures of maturity" meant they should be buying a property at their age. Despite this, many people are delaying purchases to ensure the property is suited for them in the long run, according to Matt Vernon, Bank of America's head of retail financing.

You can contact us to get more choices