homeownership-Timing-Couldn’t-Get-Better

Homeownership Timing Couldn’t Get Better

Thomas Gilliam Blog , buying a home , first time home buyers , homeownership Leave a Comment

In the current economic climate, a lot of renters thinking homeownership is out of their reach. But if you think buying a home is out of reach, you might want to think again.  According to the National Association of Realtors’ Realtors Confidence® Index, first-time buyers accounted for 29% of all home sales from late 2016 to late 2017. That’s nearly one-third of all home sales! And there’s a reason so many people are making the transition from renting to owning… Rents are rising. According to a recent Zillow study, the median US rent is taking up 29.1% of household income, …

For Farmington Hills Renters: The 5-Year Tesla Plan

For Farmington Hills Renters: The 5-Year Tesla Plan

Thomas Gilliam Blog , Uncategorized Leave a Comment

My 5-year Tesla Plan is fanciful, but based on what could be the situation some Farmington Hills renters can probably relate to. The imaginary 5-year Tesla Plan participant could be any gainfully employed Farmington Hills renters who have been living comfortably in a nice rental for the past few years. It’s  either a comfortable home or a nice apartment: that doesn’t matter. What’s important is that the monthly rent has been rising. It’s now $1,570. This is now gobbling up just about every spare dollar of the Farmington Hills renters income, perhaps leaving only an annual $6,000 bonus for savings, …