Quote:
|
the $200k family will end up with an asset that at least might appreciate, won't pay any rent, and will realize a major mortgate interest deduction
|
But they do make mortgage payments and pay substantial property taxes as well.
I'm simply pointing out that a $560K home in most of California will put you in a middle-class neighborhood with average-performing schools. Doesn't that make you middle-class in an important sense?