Scraping By

Remember, we’d been paying $62 a month rent, but here, rents were $400, and for a dump. This is when we took the now-famous loan that Mitt talks about from his father and bought a $42,000 home in Belmont, and you know? The mortgage payment was less than rent. Mitt saw that the Boston market was behind Chicago, LA and New York. We stayed there seven years and sold it for $90,000, so we not only stayed for free, we made money. As I said, Mitt’s very bright.

Another son came along 18 months later, although we waited four years to have the third, because Mitt was still in school and we had no income except the stock we were chipping away at. We were living on the edge, not entertaining. No, I did not work. Mitt thought it was important for me to stay home with the children, and I was delighted.

– Ann Romney, wife of Republican Presidential Candidate Mitt Romney, 1994, discussing their hardknock early years

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