The birth of a better way – and an entire industryIn the late 1950s, the national population was growing with the Baby Boom, and everyone expected to have a chicken in every pot and a car in every garage. But before the garage and the car came a home. The average cost of a home was $20,000 and the average yearly income was $4,545. Saving up for the required 20% down payment on a home was very difficult since it equaled almost a full year’s salary!
Then and now: MGIC through the years
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