We are so excited to announce that we are moving to New Haven, Connecticut this summer! Kristen will be starting a new job as an Assistant Professor of Social Welfare at Stony Brook University.
As you know, we have taken a very non-traditional route as parents of young kids. Back in 2016 we moved cross-country (where we knew no one) with our kids then ages 1 and 5 to embark on our educational goals. As parenting students, Kristen pursued her PhD and Tonia pursued an Associate's in Engineering to work towards her goal of becoming an Environmental Engineer.
Little did we know that housing costs would skyrocket in that time. The median cost of a house increased by 48% in those 7 years and interest rates went up from 3.75% to their current average of 7%. If we hadn't gone to school and purchased a house in 2016 our monthly payment would have been $940. That same house now would cost us $2,000 monthly!
Our kids are now 7 & 11. They're big and need space. It's clear that our housing economy is increasingly becoming a polarized split between those who can afford to own a house (and thus secure a fixed monthly payment that only increases with taxes) and those who rent –– and as we've experienced in LA, where this dynamic has been going on for quite some time, the rents keep increasing!
It's also projected that while interest rates may go down in the coming years (and even that is not a guarantee), housing costs will continue to rise because the fundamental issue is that we do not have enough housing for our population size AND corporations are increasingly buying up large shares of the market––building their wealth through forcing a larger portion of the population to be stuck renting.
We are so fortunate to be on our way to graduating and Kristen will have the privilege of a stable job with a reasonable income. However, living off of two student budgets as a family of four in one of the most expensive places in the U.S. for the last 7 years has left us with no savings and substantial student loan debt. This is why we're asking for your help!
To help make homeownership possible, we are seeking to raise funds for a house down payment. We really, really do appreciate anything you are able to do, from $5 on up! We're also open to discussing a loan that we could return to you whenever we are able to sell/refinance in the future. Also know that this platform takes a percentage of funds raised, so if you'd prefer to give directly to us - just reach out!
Our goal is to raise all funds by Saturday, April 15 so we have time to get approved for a mortgage! Again, thank you, thank you for considering!