You do not like where you are now, whether that be in your parent’s basement or a cramped single family home. What do you do? Buy now.

You need to buy now, because it is definitely not the right time to rent. Renters throughout the nation are suffering under increasing rents even though the average wage is rising. Unfortunately, many renters fall into a vicious cycle of paying their outrageous rent and not having enough to feed their families as well as saving for a down payment on a house. This perpetuates the need to rent, causing the price of rent to rise even more. Worse, renting is not an investment. It is a temporary solution to homelessness, because you are paying off your landlord’s mortgage with your rent payments (2015 Zillow). Why not just jump into your first home instead while interest rates are in your favor?

Interest rates are also currently at record setting lows, hovering at approximately four percent for a thirty year fixed mortgage. These interest rates can go nowhere but up, so why not take advantage of them now? It is estimated that the Federal Reserve will increase interest rates by one percent at the end of 2016 to avoid another recession, but that is only a larger incentive to jump into housing now. After all, interest rates could make the difference between affording that dream home and settling for less. Buy now to get the home that will allow you to live the American Dream (2015, Boston Globe).

If you are having difficulty getting into homeownership, then simply turn your attention to nonprofits and companies like The Power is Now Lending. Non-profits are willing to help you get out of poverty. The National Association of Real Estate Brokers (NAREB) offers homeownership services and advice for African Americans in need of help. The Asian Real Estate Association (AREAA) of America has educational talks for the community to inspire and assist in the planning of Asian Americans to increase homeownership rates. The National Association of Hispanic Real Estate Professionals (NAHREP) does the same, having conferences annually to promote Hispanic growth in the United States. There are some organizations such as Women In Default Services (WINDS) that actively work to bring women out of poverty and difficult situations through various services. These organizations will help you be able to afford your dream home and better your situation, because they know that there is no better time than now to invest in real estate.

Buying real estate is a life changing decision and should not be taken lightly. Yes, the time is now to buy, but are you ready? Get to your bank and take a look at your finances. Are you ready to move out from your parents house? Are you ready to downsize for retirement? Are you prepared to finally stop paying off someone else’s mortgage through renting? Notice how I did not ask if you had enough money for a down payment. Many Americans stricken with hard times do not, and that is understandable. Luckily, The Power Is Now has a lending program called the Sapphire Lending Program to get rid of your excuses about buying real estate and building wealth for you and your family. Feel free to peruse our website and send The Power Is Now Team an email at

Eric Lawrence Frazier, MBA
President and CEO