Housing

The responsibility of providing sufficient housing rests on the shoulders of the government. The responsibility does not just end on providing housing; the houses have to be affordable so common man can easily afford to pay for a convenient living. Apart from buying a house or a flat you also have the option of renting housing. Although most basic housing facilities are being provided in US there are still people that are homeless because the people below the poverty line can not afford any form of housing cheap or expensive. For low income housing the government needs to device methods and solutions. Currently the housing market is saturated. It is believed that the government built more houses than were required or in other words the supply exceeded the demand. As mentioned above homeless people exist but then again they can not afford to buy these houses. The low income people are more likely to get themselves tangled in bad credit loans in this time of high inflation rates and high interests. The US economy is facing a downward trend due to this housing bubble. Mortgages extended to people with bad credit ratings were never paid back and these sub prime mortgage deals have left many mortgage companies bankrupt and the economy shaking.

Mortgages were considered to be the best tool that enabled people to obtain affordable housing and this proved to be right for a long time. In the past few years the interest rates were very low and the mortgage companies and banks thought they were on the losing end and needed to speed their business up. In such conditions they started offering sub prime loans to people with bad credit ratings. These loans were handed out on higher interest rates and the banks were obviously earning more out of them. What they failed to anticipate was that their efforts to minimize risk in such situations may not prove to be enough. The idea has sadly backfired now.

The current situation is in no way reflective of how all mortgage loans work. If you keep track of your payment plans and are not defaulting on your loan payments your credit rating will be good enough to keep the interest rates low. If your credit rating is low you can wait till it improves and then take up a huge loan like a home loan. Taking up an expensive loan will only make matters worse for you financially. Cheap housing will become a dream if mortgage companies lose their investment and their confidence in buyers. Mortgage deals are usually spread over many years and it is not too hard to pay them off with loan facilitating tools like loan consolidation and home equity loans etc.

Students also require housing as most college students study away from home. Student housing has to be affordable because most students are studying and paying for their education through odd jobs. If they will have to pay too much for their accommodation they may lose focus as they get busy earning to pay for accommodation. Most students are provided with affordable accommodation on campus but those who choose to live off campus are also being facilitated with affordable university managed housing. Most people that rent out their houses to students may not understand if they skip a payment or two but the university always gives the student a margin on missed payments and they are not thrown out of their houses immediately. Student housing managed by the university is a much better option then private accommodation that is rented. Internet is a good source to search for appropriate housing around your campus. You will be better able to compare rents and facilities in this manner.