So based on that rate I should be able to easily purchase my ~550 sq. ft. apartment. In fact the payments on a 30 year mortgage would be about $1300/month. Clea

So based on that rate I should be able to easily purchase my ~550 sq. ft. apartment. In fact the payments on a 30 year mortgage would be about $1300/month. Clearly the problem is the price of land, made even less affordable because of density maximums. If the price of a lot could be split over 6 people, a lot more people could afford to purchase a house.