For the past few days, Karen’s sister has been down here looking into a new home. She’s moving down to Delaware after a 20+ year stay in her current house in New York. She’s found a few different properties, she’s looked into a mortgage and has basically taken it from there. I’ve also been looking into information on Mortgages for my own personal hopes and dreams. Supposedly it’s a buyers market but even with a 30 year fixed mortgage you’re limited as to what you can get, and where you can find an even remotely decent home being sold for the sake of safety and where you intend to plant your feet for the rest of your life. Unfortunately, with the way the economy is right now, people are selling their homes within years of purchasing them, only because they can’t afford the monthly payments anymore.
So I poked around on a few sites, and actually found a running theme on a news section of earth.co.uk. There are more people leaving city life and moving to the suburbs. I thought America was just having trouble with the economy but it’s really a world-wide issue that’s effecting London just as badly as it is New York. Homes outside of the city are proving to be more affordable and easier to find. For many years, people worked in the city and lived in the suburbs. Now it comes down to the option of not really being able to afford either one but the less of the expenses would be to move out as far into the suburbs as possible.
