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Does owning a home automatically makes you a middle-income household?

 
Anonymous

Asked by Anonymous at 6:39 PM on Oct. 23, 2009 in Money & Work

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Answers (5)
  • We own our home and we're just below poverty level limits. We bought a fixer upper for CHEAP with a low down payment and put our own sweat into fixing it up and adding on. It's now worth 5 times what we paid for it.
    michiganmom116

    Answer by michiganmom116 at 9:39 AM on Oct. 24, 2009

  • We own a home, both of us are laid off now but we were no where near middle income.
    Anonymous

    Answer by Anonymous at 6:48 PM on Oct. 23, 2009

  • I don't see why it would. I assume it is based on income levels. Some people scrimp and save to buy a home and yet are low income.
    micheledo

    Answer by micheledo at 6:51 PM on Oct. 23, 2009

  • No, my parents have always been low income and never on public assistance, but have always owned their home. They saved and saved and saved to buy it. If they were ever "middle income" they would feel like they had hit the lottery.
    slw123

    Answer by slw123 at 7:54 PM on Oct. 23, 2009

  • Anonymous

    Answer by Anonymous at 10:45 PM on Oct. 23, 2009

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