Underage Homeowner

www.youthradio.org Before she was old enough to legally drink alcohol, Denise Tejada bought a house in the San Francisco bay area, one of the most expensive real estate markets in the country. Her brother Wilmer bought his first house when he was 21 and hes planning to invest in a second property soon.

Watch the video to find out how they did it.

Category:

News & Politics

Tags:

• real estate
• purchase
• house
• buy
• home
• young
• homeowner
• invest
• investment
• recession
• economy
• save
• budget
• inheritance
• inherit
• work ethic
• Tejada
• uncerage homeowner

[visionvictory]

This just shows you what happens when government gets in the way of a real housing recovery. Let prices fall so she can actually afford the home.

Sad story of a future foreclosure that the tax payers will have to end up paying for.

[visionvictory]

Just posted a video response

watch?v=f_0xeTd8B4g

[fuzzywzhe]

@carnage958 "ant to succeed, end capitalism and spread the wealth."

You don't understand capitalism.

Having banks that helped run up the price of home ownership, that then were supported by the government to keep these prices high isn't capitalism.

It's fascism. In capitalism, these banks would be broke, their investors would have lost all their money, and the homes would be back on the market, at affordable prices and the CEOs would be IN JAIL.

[fuzzywzhe]

I wish I knew the addresses of these 2 places so I can see if they are keeping up with the payments.

[ARE190]

SCREWED, that onr guy says he saved. yea right, he said he saved one hundred bucks a month for like five years, thats only six thousand. He should of bought a car with that money or something he could actualy call his own. This is also the reason why 70 percent of americans can't locate america on the map. They think working at four diffrent Mcdonalds is a future.

[christo930]

What these kids should be doing is living at home and investing the money! What in the world does a 20yo need with a home and the headaches that go with it?

I certainly admire their financial discipline but I think they are investing their savings poorly.

[edmack4me]

Dad is just an ignorant sheeple and his children are trusting lemmings.

[edmack4me]

They think they bought what they think is a call option but it is over a declining asset in a tanking economy by listening to their dad who has no sense of timing and is economically ignorant other than a desire to advance materially.

[edmack4me]

The pressure comes from the father who obviously earlier back in the old country went through tough times but is/they are ignorant of the true state of the property market and of the US economy. They will find out soon enough and dad too.

[maybecominsoon]

"Hopefully I can get another one soon"

When did we start teaching our youth a loan equals ownership? These kids should focus on education! Not having 4 part time jobs. If this reflects how the majority of their generation thinks, we will be a 2nd class country in no time; it wouldn't even matter if they continued with the bailouts. CONSUMPTION will be the death, coupled with greed, of course.

[TruthAxe]

Persons RENT CASH from a bank when they "take out" a mortgage. A mortgage names a contract.

The funny bit is that no one owns improved parcels -- land with house. Merely, they hold the right to control the deed.

In our corrupt society, bankers and Realtors® have lobbied crooked politicians to craft law that grants SUBSIDY to cash rentees who take on mortgages.

This causes a faulty move of resources into house building that otherwise would go elsewhere to make the economy grow faster.

[Lacybunny]

In the financial market these days, you both will be losing your homes. Right now, it would have been better to rent.