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Metropolitan DC Local Politics
Reply to "We need homes. A lot of homes. Not just affordable, but also middle-income homes."
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[quote=Anonymous]I don't know if this is a fair comparison. But I could not afford my house when I bought it more than 25 years ago for $350k at a 7.5 percent interest rate. It was an absolute struggle with little kids. We had to have a yard sale once to pay for groceries. We had no furniture for several years. But my salary eventually caught up with the mortgage payments. Now it's almost paid off. I don't know if people are willing to make that kind of sacrifice now. That said, when an entry level home is $900k, it completely throws off the equation that helped me enter the market. I'm glad it worked out because my house ended up being one of the best investments I ever made. [/quote]
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