Eighty-Three is the number of people who have closed on homes in Worcester so far, with the assistance of the city's Buy Worcester NOW program. According to this article in today's paper, the mortgages appear to be affordable and in line with the kind of results that can be a boon for the city, however large or small anyone might perceive that boon to be.
According to my standards, the two home purchases described in the article are certainly "affordable".
The idea of "affordable" is always something that I find interesting in this day and age of Orwellian newspeak. The old formula for "affordable" was always very simple, as described to me by my Grandfather, all those years ago...
He told me that your house shouldn't cost more than two years' pay, and your car shouldn't cost more than six months' pay... and you should always settle for something less than that.
It's the best financial advice I ever got.
Thursday, January 8, 2009
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