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Are Bill Gates' billions keeping you from affording a house?

 
Are Bill Gates' billions keeping you from affording a house?
Posted Thursday, August 14th 2014 @ 4am  by KTRH's Scott Crowder

In this election year democrats are trying to use the 'income gap' to explain a weak housing market.

Houston financial planner Michael Parmet says it's silly to say the so-called 'one percent' is ruining the economy.

"Our housing problems are not caused by a huge gap in income."

Parmet says a more likely villain in regions where home sales are down is strangling government regulation.

"There are entrepreneurs and there are great business opportunities in certain regions; those regions have been able to grow in spite of the current administration."

One of the strongest housing markets is here in Houston, which didn't suffer nearly as much as the rest of the nation during the recession.

"Everyone was told to buy a house. I think that's affecting our housing market a lot more than any major income gap between the extremely rich and the mainstream."

 

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