On the other hand people who want to buy a house are facing difficulty buying one despite the fact that all the property price goes down tremendously. Houses are cheap now, way cheaper than 5 years ago especially those owned by HUD or the government foreclosed properties.
If you are planning to buy a low income housing, the only place for you to check is HUD. They are accepting applicants for entities to purchase troubled mortagages and foreclosed properties for a very low price. They set the price and you can make an offer. They want to disposed these properties so they are willing to give it away for a much lower price.
"HUD's mission is to create strong, sustainable, inclusive communities and quality affordable homes for all. HUD is working to strengthen the housing market to bolster the economy and protect consumers; meet the need for quality affordable rental homes: utilize housing as a platform for improving quality of life; build inclusive and sustainable communities free from discrimination; and transform the way HUD does business. More information about HUD and its programs is available on the Internet at www.hud.gov and http://espanol.hud.gov. You can also follow HUD on twitter @HUDnews, on facebook at www.facebook.com/HUD, or sign up for news alerts on HUD's News Listserv."
So, to own a property that fits your budget, look for these properties online, or it is much better to contact the Harold Carter Realtors office. They specialize in HUD homes, bank foreclosures, residential, and commercial, They will assist you in buying a home, finding the right house for your needs and answer any questions that you might have.