“Livin’ on a Prayer” and Buildin’ a Dream

Turns out the Jon Bon Jovi Soul Foundation is supporting affordable housing right in my own backyard!  Check out this recent story from Camden, NJ:

“Today Heart of Camden held a ribbon cutting ceremony to celebrate the completion of a home for Jorge Cartagena, a young boy who turns 10 this month was shot in the eye by a stray bullet last year. Jorge will be moving into his new home with his grandmother, Manuela Pintor, who is also a new homeowner. The celebration was held outside of Manuela and Jorge’s new home in the Waterfront South community of Camden, NJ.

Solution to the Affordability Paradox?

photo credit: respres

A few days ago, I did a post on the paradoxical state of the housing market: home prices are at record lows, which is great for affordability, but mortgage credit markets are also very tight with adjustments to additional, and much-needed, government oversight.  So, unless you’ve got excellent credit, these low housing values are probably out of your reach.  And in terms of affordable housing, it’s not the people with excellent credit who struggle to become homeowners.