How will the economy affect WOH/SAH?

iVillage Member
Registered: 04-08-2003
How will the economy affect WOH/SAH?
2639
Wed, 02-11-2009 - 1:09pm
How do you think the economy will affect decisions by women to stay at home versus work? With so many people losing jobs, do you think more women will be forced back into a job to help out (or take over) family finances? Is SAH parenting

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iVillage Member
Registered: 10-07-2004
Thu, 03-19-2009 - 8:50am

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I don't think it's contrived at all. I live in a low COL area. My mortgage is less than $600/month - that's a total payment with taxes and insurance included. My property taxes run about $1000 per year.

We searched the foreclosed home market in surrounding cities and outlying areas, closer to larger cities and we would have to have doubled this expense just to pick up a comparable fixer upper. Most of the homes we saw that cost as much as our home had tens of thousands in repair to be done just to move in, and the property tax rate at best doubled, but in many cases tripled.

There are other advantages living in a low COL area that I'm not sure we'd find in other areas. When my kids went to afterschool child care, it was free of charge because so many here fall within the low-income guidelines, so they offered the whole program free for all students. My kids attend an art school that is part of a community outreach program designed to help low-income children have access to the arts, and students who don't qualify get to go for a nominal fee. Our community college has tuition rates that cost less than $2000 per semester, and that's including books, and they offer transfer programs to state universities.

To move elsewhere with a higher COL, we'd have to double our income just to save more for college, pay for after school care, extra curricular activities, and housing costs.

When my kids were little, we managed to have a SAHP on an income less than 30k comfortably - that's within the last 8 years. I just don't think that's possible everywhere. The price of milk and Cheerios aren't even significant.

iVillage Member
Registered: 01-15-2006
Thu, 03-19-2009 - 9:29am

so what are you saying..that low COL areas are immune from the foreclosure crisis?

 

iVillage Member
Registered: 03-11-2009
Thu, 03-19-2009 - 9:40am
Isn't it amazing? I could do soooooooo much with $250,000 BECAUSE I live in a smaller home and bought what we could afford. I am soooo glad now for that as we are not house-poor and I could afford to pay my mortgage bill with less than one of our paycheck's a week.
iVillage Member
Registered: 03-27-2003
Thu, 03-19-2009 - 9:41am

"So what are you saying...that low COL areas are immune from the foreclosure crisis?"


iVillage Member
Registered: 01-20-2009
Thu, 03-19-2009 - 9:45am
Oh, you mean you can't reconcile conflicting statements you've made on this forum. Gotcha :)
iVillage Member
Registered: 01-20-2009
Thu, 03-19-2009 - 9:46am
What is your opinion on whether the COL varies from place to place in the US?
iVillage Member
Registered: 01-20-2009
Thu, 03-19-2009 - 9:47am
I have a magic telescope.
iVillage Member
Registered: 01-20-2009
Thu, 03-19-2009 - 9:49am
I agree. Then how can you assert that a family that owns a house in Toledo is just as well off moving to NYC and renting?
iVillage Member
Registered: 03-06-2009
Thu, 03-19-2009 - 9:52am
not only that but color me confused b/c weren't these same posters all over another poster for renting instead of owning not too long ago? now it's all "sensible and practical and logical' and all that?
iVillage Member
Registered: 01-20-2009
Thu, 03-19-2009 - 9:53am

Are you saying you'd never consider moving anywhere you could not afford to SAH?

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