Thursday, August 18, 2005

How do they do it?

For the third day in a row, Kelly Zito covers real estate in the Chronicle with a story on how buyers are affording to get into the market. Today's story is page 1 news, including a photo of my listing with yours truly in the background.

Some of those interviewed are stretching to make it work. "It's painful, more painful than I thought it was going to be," said Kris Crichton, who bought a $640,000 condo in San Francisco's SoMa neighborhood using $50,000 in equity from a home she owned with her former husband and an interest-only loan for part of the mortgage. "I'm eating ramen and PB&J every day, but at least I have a house."

There is also a graphic titled "affording the unaffordable" which shows how homeownership rates have increased the most for buyers in their thirties.

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