At 59, bus driver’s ‘lifelong dream’ of homeownership challenged by soaring prices
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‘Priced out’
Skyrocketing home prices across Kansas City have been good for sellers, but not necessarily for buyers. And none are having a harder time than low-income and first-time buyers.
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Three years ago, Angie Gumminger was homeless.
After an on-the-job injury, she said, she was unable to pay rent and was evicted.
Gumminger stayed with an adult child for nine months as she rebuilt her life and her finances.
“I feel like I’ve failed a lot,” she said, “so I’ve been trying harder to set financial goals.”
Her primary goal now is to buy her own home.
She’s taken homebuyer education classes and worked with a financial counselor at Community Services League for three years to repair her credit. Now, with debts paid down and cash saved up, Gumminger is looking to buy her first home at the age of 59.
“I’m very, very excited,” she said. “I’m very scared at the same time.”
Gumminger has been a bus driver for the Blue Springs School District for the past 35 years and was just promoted to student discipline coordinator. She’s now ready to finally buy a home of her own.
If the market will allow her to do so.
“I’m ready right now,” she said. “With the market the way it is right now, I’m kind of holding back to see if things could change. Because right now, it’s a seller’s market.”
She hopes to find a place in Independence, where she currently rents. Her budget is about $100,000. She’s comfortable paying her $675 rent now and doesn’t want to overextend herself by paying an inflated price.
“It’s outrageous — for what they’re wanting and what you’re getting,” she said. “I don’t want to go into something I can’t afford. And I don’t want to go into something that I don’t want. So I don’t want to feel like I’m forced to do something.
“I just don’t want to settle.”
Gumminger needs a home that can safely accommodate her 17-year-old son, who has Down syndrome and autism and who spends most of his days in a wheelchair.
She thinks the current price appreciation in this real estate market will prove unsustainable. And just like with the Great Recession, she foresees a big crash sometime soon. (Her ex-husband’s home was foreclosed upon during the financial crisis.)
If the market doesn’t crash, Gumminger said, she’ll wait things out. She’ll continue to save. And eventually, she’ll get into a home of her own.
“This is a lifelong dream,” she said. “This is my last move and I want it to be the right move. I just feel like I’ll feel complete and successful in life. And I can’t wait.”
