The Morning Report
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Tuesday, May 20, 2008 | In 2004, our landlord raised the rent on our $200,000, 20-foot wide, three-story brick, La Jolla townhouse from $1,200 to $1,400 a month.
My then 74-year-old bride and I searched California, Virginia, Maryland and Georgia for living quarters. We purchased a vinyl-sided, two-story townhouse of the same living space, but no garage, for $130,000 in Georgia. The interest-only mortgage payments are about $700 a month.
That La Jolla place soon sold for $450,000 and my neighbors are now asking $140,000.
Decide what shelter you can afford, promise to make the payments, make them and don’t plea that we in the home of the Braves bail you out.