Moderate income families fall in gap - KUAM.com-KUAM News: On Air. Online. On Demand.

Moderate income families fall in gap

Posted: Updated:

by Ken Quintanilla

Guam - There's an evident gap for those looking to buy a home. According to Micronesia Community Development Corporation executive director Carlos Camacho, it's necessary to help moderate income families gain home ownership especially with the rising cost of construction and real estate.

He told KUAM News, "You've got families who's household income is $50,000 a year. but today's cost of real estate and houses are at $300,000 and $250,000. Those are the families who are left out of the gap."

Camacho says these families cannot catch up with the cost of inflation rates but tools like the Mortgage Credit Certificate improve an individual's buying power by almost $167 a month, which could improve buying power by $30,000.

  • NEWS HEADLINESMore>>

  • Repopulating the endangered sihek

    Repopulating the endangered sihek

    Efforts to repopulate the Micronesian kingfisher on Guam are underway. The Department of Agriculture held a conference with visiting field experts. The sihek last seen in the wild on Guam way back in 1989. Dr. Axel Moehrenschlager heads the Calgary Zoo'sMore >>
    Efforts to repopulate the Micronesian kingfisher on Guam are underway. The Department of Agriculture held a conference with visiting field experts. The sihek last seen in the wild on Guam way back in 1989. Dr. Axel Moehrenschlager heads the Calgary Zoo's More >>
  • Bordallo hopes to communicate veteran needs to feds

    Bordallo hopes to communicate veteran needs to feds

    The Guam Veteran's Affairs office announced beginning Feb. 15 and every third Friday it will be clearing vets cemetery grave sites of flowers and decorative items. It's in keeping with federal regulations regarding uniformity. Meanwhile, the new administrMore >>
    The Guam Veteran's Affairs office announced beginning Feb. 15 and every third Friday it will be clearing vets cemetery grave sites of flowers and decorative items. It's in keeping with federal regulations regarding uniformity. Meanwhile, the new administrMore >>
  • Still no takers for marijuana testing lab

    Still no takers for marijuana testing lab

    Since the passing of the Homegrown Cultivation Bill, the number of patients registered for medicinal marijuana has reached a high. But still, no one has applied to build the lab, needed to test the product. So far, 73 patients are registered with Public HMore >>
    Since the passing of the Homegrown Cultivation Bill, the number of patients registered for medicinal marijuana has reached a high. But still, no one has applied to build the lab, needed to test the product. So far, 73 patients are registered with Public HMore >>
Powered by Frankly