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Apr. 5th, 2008 01:22 pmUnsold homes tie down would-be transplants | The New York Times
This is one of the things that has always freaked me out about home ownership, even before the housing market started plummeting downhill. What if I get laid off, or hate my job, or just get a really tempting offer somewhere else? I move there and pay rent or another mortgage while trying to get rid of a house? I couldn't afford that on any job in journalism. Owning a home is a very logical thing - equity, making an investment instead of having another expense, etc. But the commitment it signifies to an area and employer just make me cringe. I wonder how the newer generation of workers who have no intention of being with a single company in one city all their lives will change housing.
This is one of the things that has always freaked me out about home ownership, even before the housing market started plummeting downhill. What if I get laid off, or hate my job, or just get a really tempting offer somewhere else? I move there and pay rent or another mortgage while trying to get rid of a house? I couldn't afford that on any job in journalism. Owning a home is a very logical thing - equity, making an investment instead of having another expense, etc. But the commitment it signifies to an area and employer just make me cringe. I wonder how the newer generation of workers who have no intention of being with a single company in one city all their lives will change housing.
