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It truly doesn't make sense in your financial situation. My reference is toward the very sizable population who haven't bothered to explore other options and instead maintain the hamster-wheel existence, while whining about their current situation.
You should have qualified your initial statement better. I also think it's lame to want to stay in your home town all your life but moving every ten years for no good reason also makes no sense.
I've lived in the same county (Orange County, CA) for my entire life, although I've moved twice within the county. Tne older I get, the more I really love living in a place where I have such long memories, and the less desire I have to pick everything up and start all over somewhere else. I have bonds to the places and the people. Of course places change, to a certain extent, but not completely, and some people move away--but not everyone does. There are still people here I knew as a child 40+ years ago, and again, the older you get the more amazing that starts to seem. You can't make more old friends and acquaintances. And I also love that I was able to raie my own kids here and that they know the same places and many of the same people I grew up with.
Of course, OC is not like a tiny hick town. That would probably be a different story.
This thread is a really bad take. There are a myriad of reasons of reasons explaining why relocations are at an all time low, ESPECIALLY during that period of time...comes off as incredibly tone deaf.
In regards to my maintaining my low interest rate, I suppose I could rent out my SFH and use the profits to subsidize my new housing to some extent, but do I work a great hybrid job in a desirable area and do I really want to become a "landlord?"
Quote:
Originally Posted by rnc2mbfl
Nobody wants to let go of their 2.5% mortgage and replace it with a 6.5% one.
Last edited by silverct9a; 06-30-2023 at 09:12 AM..
Also, in my experience, the only people really moving now are those with advanced educations and highly in-demand skill sets where a true WFH or even Hybrid work situation doesn't work and employers are demanding in office collaboration.
It makes little sense for those with low/mediocre skills and little education to move some place across the country with the nation's current housing situation - Far better for those folks to move closer to the major metro area in their respective state if they're looking to increase economic prospects.
Also, in my experience, the only people really moving now are those with advanced educations and highly in-demand skill sets where a true WFH or even Hybrid work situation doesn't work and employers are demanding in office collaboration.
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I think you nailed it.-that’s been exactly what I experienced in my orbit. A lot of them moved overseas. Digital Nomad and strong dollar favor the folks who are either disappointed in the current political/social backwater circus or strongly aversive to the gun violence.
More than one-quarter (25.4%) of house hunters are seeking a different metro area, up from 23% a year ago. That figure before the pandemic hovered below 20%.
It makes little sense for those with low/mediocre skills and little education to move some place across the country with the nation's current housing situation - Far better for those folks to move closer to the major metro area in their respective state if they're looking to increase economic prospects.
It makes a lot of sense if they're moving from a HCOL state to a lower one.
Of course, OC is not like a tiny hick town. That would probably be a different story.
I imagine those who stay in their "tiny hick town" and can make it work have even closer ties to their environment and the community around them.
As someone born and raised in a big city that has changed massively in the last 30 years (i.e. going home doesn't feel like going home), then moved to different countries, and now lives in a city they at best feel very ambivalent about and will never feel at home in, I actually envy them to some degree.
I imagine those who stay in their "tiny hick town" and can make it work have even closer ties to their environment and the community around them.
As someone born and raised in a big city that has changed massively in the last 30 years (i.e. going home doesn't feel like going home), then moved to different countries, and now lives in a city they at best feel very ambivalent about and will never feel at home in, I actually envy them to some degree.
Basically, people that have a sense of contentment and don’t necessarily put their identity into where they live.
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