Hard Times in Austin

While sitting at the bus stop today at lunch, a woman in her 20s, wearing a Wal-Mart vest, leaves a nearby bus and joins our stop.

A few minutes later, a man in his late 20s (maybe early 30s) walks up to her and asks if there are any late-night shifts available since he already has another job and wants to stay in his apartment but it costs $1,000 per month even though 10 years ago the same place was $425 a month.

"I just can't make it with one job."

Contrast this with our experience in Seattle in November. Our friend's neighbor sold their home for $1 million but now cannot find a replacement home within their price range. Meanwhile, another friend in Austin wants to move to Dripping Springs and can perhaps sell their home for $425,000 but they are also almost about to pay off their current home within five years and would not want two mortgages.

I like what my husband says when I dream about moving to Seattle and buying a modest home for $625,000: "I don't want to be paying off our mortgage when I'm 80."

He is wise. I am going to be grateful for having an affordable home in Austin at this time that he bought in 2002 for $153,000.