The husband was sleeping (he works nights) and, sad to say, the females in the household handled the situation by running around like chickens with their heads cut off, screaming and running out of the house.Their screaming woke up the husband who had the good sense to throw the main breaker and call us. 

I am willing to bet there are a lot of markets out there that have similar stories, but these properties are at the glass ceiling, no room for additional appreciation until user base median incomes have significant incline as a tenant base can not support housing costs north of 50% gross household income, not sustainably, and that's the #1 factor holding prices down as demand and replacement costs would allow it to run another who knows how much, 30%-40%. 

I’m concerned a lot of folks might be holding under-reserved properties in an environment where the govt currently pays 25% of household income. 

Internal Revenue Service, or (iii) received an Economic Impact Payment (stimulus check) pursuant to Section 2201 of the CARES Act;3) the individual is unable to pay the full rent or make a full housing payment due to substantial loss of household income, loss of compensable hours of work or wages, a lay-off, or extraordinary out-of-pocket medical expenses;4) the individual is using best efforts to make timely partial payments that are as close to the full payment as the individual’s circumstances may permit, taking into account other nondiscretionary expenses; and5) eviction would likely render the individual homeless—or force the individual to move into and live in close quarters in a new congregate or shared living setting—because the individual has no other available housing options.

At this level, the median household earner can’t even get approved for a mortgage on a median-priced home. ** Important this chart does NOT include the last 30 days of rate decreases which will slightly improve this number but actually not move the needle significantly.Home affordability is hurting buyer’s ability to buy, meaning, those looking to sell are having a hard time finding buyers and are being forced to lower their asking price.

The term "housing bubble" became a household word from each of these events.People believe real estate markets are driven buy the individual decisions made of buyers and sellers and that's true.

Compared to other countries, our home prices are cheap when using any of the following metrics:Price to rent ratioPrice to income ratioAffordability IndexMortgage as a percentage of incomeIf we "normalize our price to income ratio from about 4.5 to something similar to other countries (Take Canada fro example at 7.6), our average home value of $248k (on average income of $56k per household)  would reflect a price of $429k. 

Here are the important factors to consider for a house hacker of a 2-4 unit property when using the program:NACA’s eligibility requirements consist of the following:No member of the household can have an ownership interest in any other property at the time of closing,Occupy the home over the life of the NACA mortgageParticipate in five actions and activities a year and at least one prior to NACA Qualification and one prior to closing in achieving NACA’s overall mission of economic justice; andBe willing to abide by NACA’s terms of membership, participation, and eligibility.Occupancy requirement:At the time of closing, the house purchased with the NACA mortgage must be the Member’s only home.

City of Columbus actually has a table that you can reference to show approximate costs depending on how many people are in the household. 

Originally posted by @Evan Polaski:@Tom Nguyen nationals/regionals are your household name tenants.