Since I've only grossed over $30,000 a year a couple of times in my life, I think I'm qualified to answer that.
The home I live in is around 1800 square feet...originally built in 1973 as a FmHA-spec 3 BR home in a rural subdivision. The previous owner added a family room/dining room addition across the entire back of the house sometime in the late 1980's.
I bought the house in 1994 for $55,000. Since then, I've had vinyl replacement windows and vinyl siding installed, and the insurance company replaced the entire roof [hail damage] in 2003. I replaced the [original] furnace in 1996 or '97.
In 2004, when I refinanced at a fixed 5.37% rate, the house appraised at $94,000.
So THAT'S what kind of house someone making $20K-$30K can afford.
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Today's Featured Article - History of the Cockshutt Tractor - by Danny Bowes (Dsl). The son of a very successful Toronto and Brantford, Ontario merchant, and himself quite an entreprenuer, James G. Cockshutt opened a business called the Brantford Plow Works in 1877. In 1882, the business was incorporated to become the Cockshutt Plow Company. Along with quality built equipment, expedious demand and expansion made Cockshutt Plow Works the leader in the tillage tools sector of the farm equipment industry by the 1920's.
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