Story of a 1950 House
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In 1950 we bought our first home. It was a new three-bedroom tract house in a good area near shopping and schools. The price was $9,650 and the monthly payments were only $52, which included principal, interest, taxes and insurance. I was earning $300 a month on my job. My wife stayed home and took care of my two little girls. We had a nice car and were living the American Dream. What has gone wrong?
That same home, now 41 years old, is valued at over $200,000. It would take about $40,000 down to buy it. To qualify, the buyers would have to be earning nearly $5,000 per month.
The house didn’t change, only our money did. It keeps on losing value every year. The blame goes to our government. We need honest money. And we will never get it unless we have honest people running our government. Speak out and vote good new people in.
ROBERT E. DENO
Los Angeles
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