Letter to the Editor: A different take on "affordable housing" in Decorah

Randy Hageman has submitted this Letter to the Editor in response to yesterday's letter from Randy Syverson about the lack of "affordable" housing in Decorah:

"After reading the article about the planned housing development (in Decorah), it made me ponder the question, "Is Decorah an expensive place to live?"
 
My comment is NO, not really.  If you are purchasing a house that is $400,000 it probably is not your first home and you most likely will have a down payment.  My income does not allow me to purchase a $400,000 home, but it does allow me to own my $400,000 home with a $250,000 mortgage.  By building these new developments, it is encouraging current home owners to upgrade to new larger homes, which frees up the smaller, more affordable housing for first time home buyers.