A Question About People Moving For Affordabilty Purposes (rent, mortgage)

[SyraBrian]

Do people who get up and move on the basis of affordability really do wonders for the economy of the cities they're moving into?

It seems to me that once they settle into their new and cheaper digs, they're still going to find other reasons to be tight with their dollars.

[kyle19125]

Depends upon the reason for seeking affordability. Some are frugal because that's their personality, others become that way through necessity. I would say the latter is much more common in terms of those who choose to move, and would in fact probably do their own fair share of supporting the local economy.

[nep321]

I think it only really helps if the person first has a nice amount of cash saved up, THEN purchases a home and locks in a low monthly mortgage payment. So, for instance, me, I have saved up a significant amount of cash here in CT, because the jobs pay high. But then, I can move to a cheaper place and instantly purchase a home for cheap. So it wouldn't matter if I got paid a lot or not.

[steve1282]

Originally Posted by SyraBrian

Do people who get up and move on the basis of affordability really do wonders for the economy of the cities they're moving into?

It seems to me that once they settle into their new and cheaper digs, they're still going to find other reasons to be tight with their dollars.

I grew up in Boston. I was a cop so I considered myself middle class about 60k a year. I could not afford a home which is what I wanted and most of my income went towards rent. I had the option to live at my parents house but I was 27 and single thats a red flag to most women plus I wanted to be on my own. So I moved to Dallas took a 20k paycut. I bought my own house which was cheaper than renting in Boston month to month. Its not about being cheap but how you spend your money. In Boston I was making someone else money paying rent in Dallas my money is going to me in the future when I sell. So I feel like I'm working towards something rather than running in place. I'm 32 now and could not be happier