Mortgage Test Results

So it looks like I’m not going to be able to afford a house in Tremont. With only one excep­tion, every house that I researched [about 2 dozen] would sell for sig­nif­i­cant­ly more than what I can get a mort­gage on. There was one house on Auburn, pur­chased in 1997 for $13k, that was sold in 2004 for $134k. It appre­ci­at­ed 10× its orig­i­nal val­ue in less than ten years. The cur­rent own­er is prob­a­bly try­ing to flip it for anoth­er $20k or so. Many of the prop­er­ties that are for sale are owned by the same peo­ple. Two folks in par­tic­u­lar had 3 or 4 prop­er­ties on the mar­ket. Not that any of this mat­ters, I don’t want a house until I have a bet­ter source of income.