Question

If Lewis's house increases in value by 3% each year over two decades, he could still lose money when he sells the house if _____.

Select the best answer from the choices provided.

interest rates on mortgages fell 3% over the same time.
his repair and maintenance costs were more than 3% a year.
homes in other areas of town lost more than 3% of their value.
his down payment was significantly more than 3% of the house value.