Housing for the Decline

People leaving the climate red zones may have a great variety of economic circumstances. Some will own a home outright or with a mortgage—these areas being what they are, perhaps a very large mortgage—and may plan an elaborate move in which they get a new job, sell the old house, and simultaneously buy a new house. Others will be lucky to be able to afford a small apartment or rented mobile home, or will have to crash with someone they know at their destination until they can work for a while and build up a cash reserve. I’ll make a few suggestions for people in each category, with a quick digression:

 

 

( Read more... )

 

Advice for the Broke

According to a survey conducted by the Board of Governors of the Federal Reserve System [2019, before the pandemic], 39% of Americans do not have enough savings to pay for an unexpected $400 expense without hardship, such as having to borrow money or failing to pay regular bills. The implication is that most Americans do not have the savings needed to move safely from one formal, legal housing situation into another, unless a new employer agrees to cover the costs. It costs far more than $400 to do that, especially long-distance, especially with a family.

 

( Read more... )