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December 30, 2005

The 'Burbs

My husband and I are currently trying to sell our condo close to town to look for a house. This article from The New York Times hit home as, as it describes a trend of twentysomethings who are going outside the city for bigger houses and more land—sacrificing the cool urban lifestyle to get more from their real estate money.

Home buyers who are 25 years and younger still make up the smallest fraction of all owners, but their numbers are growing faster than any other age group, more than doubling since 1994, according to The New York Times. And they’re buying more and more houses in the ‘burbs. It’s not because they can’t afford the urban lifestyle—paying wads of cash for a cramped apartment or downtown loft—they’re just wanting more for their money. And they can get it on the outskirts of town.

For example, a 20-year-old woman bought a new home in a subdivision in the desert outside Albuquerque. She paid $119,000 — about half of the national median home price, $220,000 — and got a new three-bedroom house and a yard for her dog.

The Most Wonderful Time of the Year: Clearance Season!

I love to receive gift cards for my favorite clothing stores for Christmas. Instead of my mother or mother-in-law picking out a sweater I may or may not like (and will most likely not wear in the Florida heat), I get a little piece of plastic that allows me to spend it on whatever my little heart desires. Unfortunately, gift cards burn in my hands like hot potatoes—I cannot wait to spend them. Fortunately, end of the season clearance happens right after Christmas. The clearance season is the most wonderful time of the year (not Christmas). The clothes that I’ve longingly looked at in catalog after catalog now become attainable—not just because I have a gift card to the store, but because they’re finally marked down to semi-reasonable prices (don’t just buy clothes on sale, but them on clearance, which should be 50% to 75% or more off retail). The Christmas gift card always comes at just the right time. Happy Holidays, indeed.

Renting Apartments for Vacation

A co-worker of mine is getting married tonight. I spoke with him yesterday about where his family is staying while in town for the wedding. He said his apartment complex has a “guest suite” they rented out for his parents. Just $70 a night and it’s a whole furnished apartment with a big screen TV to boot. Not a bad way to ride. He also said he found out that the apartment (and many other apartments) will rent out empty apartments for cheaper than a local hotel room if you ask (a little Google search on the topic turns up that this is a common practice outside the U.S. already). My co-worker said he plans to try out this tip on their first post-honeymoon vacation.