Just a thought : ) Title : Rent To Own Proposed Housing crises stimulus plan Model (version 1.00) The Model is to create A north America network of homes that have been foreclosed or on the process of closer or abandonment. This is to be designed to Take the foreclosed property and bring it to a similar model as a “Time sharing network” but instead of time sharing homes, bring to a new description “Renting To Own”. This will allow the people to retain their initial investment in the home they had purchased, but due to foreclosure it is turned into a credit and give incentives to complete the full purchase of the home with a non fixed value of the initial property. If the property should decrees in value the individuals will come closer to pay off their home, if the value should rise it will take longer to pay for that particular property. This plan give flexibility with no lost in their investment. If there not able to make payments this will allow them to seek out a suitable home that meets their budget even at a lower wage income job. 1: Banks Interest From the information I was given when the banks reposes real-estate is sold off to whole sellers, that is another division of the bank itself in many cases. This information could be incorrect. Homes that are abandoned will start to decay rapidly where a lived in habitat with minimal maintenance will slow down the decay. There are many reasons depending geographically regions will cause rapid decay where environment are not so severe and not so susceptible to flooding and other severe active weather. A maintained Habitat is worth weigh and gold to the Banks plus receives indefinite revenue even if the customer brings a lower wage income. (more need to be added) 2: Who qualifies: Must Be American Citizen/ Good payers/ Customer who paid off #% and more of their home mortgage / individuals who made a down payment on original mortgage #% and greater. (Numbers need to be added) 3: Your first home or transfer to new location The starting process to pick your first home or stay in your original home won’t be much different from buying a home out of the system, how much is your initial investment you had with your mortgage and your salary and track record, plus location and the minimal size house that can meet your requirements under possibly a tight budget if necessary. The home would have to go under a inspection process that determines the condition and the value for the final agreement with the network. If the customer should opt out or relocated, the house must be inspected again to make sure they don’t leave the residence in a unsuitable condition or any abuse done to the property must be fixed before transfer or “opt out” order can be processed. There will be a cost for transfer fees and inspections at the customers expense. Any inspector must be certified by the network and properly trained to submit the documents to the Network. When you opted out you are allowed to sell your account in the network along with you investment. The banks and network are not responsible, only for the transfer of ownership and to make sure there in guidelines and meet all the requirements. 4: Realtors Service This will longer applies as the people who are employed by the network will be able to process the finale details in coordination along with the specialised trained and qualified home inspectors. After the owner finishes paying the home it is no longer in the network circulation and is the customer wished to sell or buy another home this will not be under the network guidelines so the customer will seek out the standard Realtors and notary services. But due to the Economy larger Realtors may be able to be a subcontractor to offer all these serves at a negotiated fixed rate, no commissions. 5: Relocation Network: This network will allow easier flexibility for the individual or families if needed to relocate to another part of North America where they can fine work depending on their profession and skills. ( Possibly Add a social network for employment in the system for geographic job location including housing availabilities) 6: Retirement: Allows Retirement individuals or near to retirement that have made large contributions to their initial mortgages that foreclosure due personnel situation, lost of employment/ Medical Reasons, Other. 7: Down Sizing or Up sizing Due to the individuals lost of employment and currently looking for employment including the downsize of wages gives the ability to relocate to a suitable habitation depending on the size of the family or if the person is single or in a relations ship. Or if the individual gets promoted and the family status changes will be able to look for a larger home. 8: Business stimulus Designed for Newer Companies and existing once in the manufacturing / agricultural/ natural resource industries and research and development. Where large communities have gone under foreclosure on a large scale to allows business to relocate to these neighbourhoods where business taxes are low and affordable, and to help build the local economy and growth. This will allow families to have affordable homes due to lower wages from new developing new business or to cut backs from existing companies. Companies will be able to sponsor employs to allow them to be eligible for the program. 9: Separations, divorce, Partnership and individuals opting out options. This is designed for family’s or couples and even a single person who qualifies for this plan who are currently in the system may opt out of the system and sell off their shares to people on the waiting list to enter into the system. Separations and divorce or individuals who wish to stay in the program my split the investment according to the courts and may still stay in the network as long minimal investment is met to stay in the program. If a individual wish to completely opt out, the other may buy out his or hers or the same genders shares. For the individual that went under bankruptcy or foreclosed must be in the system for (X) amount of year before to be eligible to withdraw and collect their initial investment. (This is for people might try to sell off what they lost originally, this is a second change and in good faith the banks need a long term commitment) This is a open source draft anybody who wishes to add or to help build this list further please post in this forum. Myself I am not a professional in any of these departments so I welcome anybody to contribute, I will add credits at the bottom here when I make the updates. Please make suggestions or comments on any grammar changes. My belief is a man or woman that puts in a hard day’s work regardless what they do for a living should have a chance to own a home for their families. Resist the class warfare.
This doesn't make sense to me. Its typically countries with higher poverty rates that have higher home ownership rates. The housing tenure dream is part of the continuation of class warfare
You got me there lol and a good point. We cant look at poverty the same way we did many years ago and many do own homes, and many homes do get passed down from the family and many other reasons how they acquired residence. Here is a good link on stats on the new poor.http://www.heritage.org/research/reports/2011/07/what-is-poverty
I'd suggest that there are numerous gains from home ownership. There is, for example, a higher chance of investing in one's local community (even if its purely generated by a selfish desire to maintain general house prices). However, using home ownership as a mechanism for self-insurance (given the uncertainties created by economies characterised by class conflict) is a dangerous business! Folk are forced into ill-advised investments and extra family pressures are created. For example, in the UK they've found that house owners are more likely to suffer from mental problems. Lovely lawn, but rocking back and forth whilst sitting in one's filth? A possible unfortunate outcome!
Note also the benefits to the children of homeowners, as measured by higher test scores and fewer behavioral problems. Homeowners are also more likely to have higher self-esteem, though as with much of the housing literature, causation is difficult to establish.
Probably reflects income effects though Sell the 'dream' and folk will cheer. Not sure if housing has been integrated into the happiness literature. The effects. I would suppose, would be rather diverse. On one side, we have possible negative effects from reductions in mobility (and being stuck in either unemployment or in crap employment). On the other, it may intensify any negative 'shock' (i.e. wanting to move because your neighbours are gits may actually be associated with a greater level of miffedness)
Referring to the 2003 study by Haurin, Parcel, and Haurin, the authors do make a sophisticated attempt to isolate homeownership effects. They attribute improved child outcomes to the better maintenance of owner-occupied dwellings and the greater geographic stability of homeowners. I've only seen it referenced in a few articles, and haven't looked at the happiness-housing literature directly. We could also expect positive effects from the sense of 'belonging', since the higher moving transaction costs will encourage homeowners to develop stronger relationships in their neighborhood.
But that's disputed by a more recent article by Barker and Miller But that goes both ways. It also leads to increased tensions. Kick a ball in someone's garden and they put a knife through it. Scarred my childhood that did!
Interesting, I'll take a look at it. Not sure how you're making the connection to homeownership. Care to elaborate?
We all invest in social capital, being a house owner isn't a requirement. The issue is whether home ownership can improve on it. The protection of one's "castle" doesn't necessarily lead to positive outcome, such as "its my inch of garden" border disputes
