The Detroit News. If you are still renting and have never owned a house, you might benefit from these six tips sent out by Countrywide, one of the biggest mortgage lenders in the country. Your mortgage payments might be the same or less than rent payments. You don't have to put 20 percent down to buy a house anymore. There is no downside here if you're lucky enough to have a relative who will help.
Many young people get help from their parents.
Nonprofits don't help the middle class. According to the trade publication Realtor Magazine, condominium sales set a record last year when sales of existing condos and co-ops totaled 677,000 units. The magazine, quoted in GMAC's Market Commentary, said the surge in sales was due in part to a renewed interest in city living.