Why, you ask?

The first home I owned cost just at $52,000. For that price I got a 2-bedroom, 1-bath, fixer-upper that was on .35 acre in the middle of a post-war neighborhood in Norfolk, VA.  It was built in 1953. At the time my home was built America was reestablishing itself. Men had returned home from the war and were now firmly rooted in their post-war career. Women were homemakers and mothers, not CEOs and business owners. Homebuyers were encouraged to look to the future and stretch themselves as far as they could to buy a house. It made more sense then. Fast forward to 2010. The nation has been in a recession for almost three years and unemployment is at a thirty year high. Real estate has become a risky investment and those who do own homes are seemingly stuck in a vicious cycle of working just to afford the home they currently have; homes that are often larger than needed. Since that first home of mine was built; never mind. Since my parents purchased the home I was raised in (a 1100 sq. ft., post-war, cracker box) much – if not more – has changed. Rapidly rising prices in the 70s and 80s meant you could count on hefty annual raises. Today, you simply can’t rely on double-digit income boosts to make your mortgage payment less of a burden...

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