Wednesday, November 7, 2007

Market Moodiness

[Let me just start with this cute little disclaimer: I live in possibly the most outrageously over-priced market on the Eastern Seaboard.]

As Joshua and I begin our search for a place to call home for our new family we have run into the most ridiculous dilemma: You can no longer purchase a home for a reasonable amount of money.

My parents purchased their first home for $40k. I think that's about the price of a nice car these days. It was a sweet cottage-style home with an apple tree in the back yard and wild lilacs. It had a two car garage and 5 bedrooms, 2 bathrooms, and basement large enough to roller-skate in. It was a midwestern home with a strong foundation and large enough backyard to plant a garden with raised beds.

Where we live, you can't buy a trailer for one hundred thousand dollars more than that.

Our rental lease is due for renewal in February and so the discussion is again brought to the table: how long should we rent? How long do we want to live in Virginia? Where do we ultimately want to rear a family? How much are we willing to pay for a home?

With the current market volatility and increasing difficulty to secure a home loan, maybe our bank will make the decision for us, but I still dream about a beautiful stone home that has a backyard sufficent for our garden: a place Aoife can learn firsthand about organic, sustainable and local.

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