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>>

  • Jerry Anus arrested for harassment, drug possession

    Jerry Anus arrested for harassment, drug possession

    Police responding to a call of people loitering outside a Dededo game room leads to one man being placed under arrest for drugs. Jerry Anus is charged with possession of a schedule II controlled substance, harassment, and possession of a schedule I controMore >>
    Police responding to a call of people loitering outside a Dededo game room leads to one man being placed under arrest for drugs. Jerry Anus is charged with possession of a schedule II controlled substance, harassment, and possession of a schedule I controMore >>
  • Man attacks neighbor, threatens to kill victim with machete

    Man attacks neighbor, threatens to kill victim with machete

    A Dededo man is accused of attacking his neighbor after the victim refused to buy him beer. Robinson Reimers is charged with terrorizing with the special allegation of use of a deadly weapon during the commission of a felony, disorderly conduct, and harasMore >>
    A Dededo man is accused of attacking his neighbor after the victim refused to buy him beer. Robinson Reimers is charged with terrorizing with the special allegation of use of a deadly weapon during the commission of a felony, disorderly conduct, and harasMore >>
  • Barnett's dinanche takes first place at Mangilao Donne' Festival

    Barnett's dinanche takes first place at Mangilao Donne' Festival

    Over the weekend, Barnett’s boonie pepper mash condiment took the heat at the Mangilao Donne’ Festival.More >>
    It might not be the biggest, but sometimes it’s the hottest. That’s what KUAM’s Chris Barnett says about the tiny, tongue-stinging donne’ sali he uses in his award-winning donne’ dinanche “Antigu” recipe.More >>
Powered by Frankly