The latest Bay Area housing gimmick: Having investors pay for half of the standard 20 percent down payment and sharing on the upside or downside.
ByOne of the biggest pitches about buying real estate is the inevitable buildup of equity overtime. Of course the data usually used shows people staying put for 30 years instead of the real world figure of an average of 13 years. Lives change. People move. Jobs come and go. Millennials are largely staying with parents and there must be a way to get them out. In the Bay Area, you always hear politicians saying something like “it is hard for a teacher or fire fighter to buy a home” but rarely mentions that the typical crap shack will cost you $1.2 million. Since when did “middle class” jobs demand living like a millionaire? But never fear. The wonderful ideas of a mania are now popping up left and right like incredibly low down payment loans and a new one, crowd funding your down payment…
