Poof

Most everyone dreams of home ownership but there are many things that can make that dream go poof.

The dream can be destroyed during home ownership as well as even before the dream materializes.

How can that happen? Lots of ways but I will just name a few. 

There has been a lot of talk lately about a possible interest rate hike. An interest rate hike could create enough of an increase in the monthly home payment to put ownership just out of reach for some potential home owners.

Local circumstances can change, in example, a new employer or industry may come to town bringing a large influx of people to town. That of course is going to draw down inventory. Supply and demand is what drives prices for every product including houses. With supply down prices are going to go up.

Of course there are things people can do that sabotage their own quest for home ownership. When ever you are home shopping your Realtor (if you have a good one) will tell you NOT to make any major purchases until you have found the right house and you have CLOSED on the house. It's

surprising how many people blow it when they learn how much they can borrow so they run out and buy that little sports car or monster truck because they figure they can afford it and the house.

Sorry! When the bank sees what you have done they are going to drop your home loan like a hot potato.