New Yorkers feeling cramped with three kids in a two-bedroom apartment but who are not so sure about saying goodbye to the city are increasingly giving the suburbs a test drive. According to the New York Times, more families are renting in the suburbs before deciding whether to buy. And beyond any mere reluctance to give up city living, the uncertain economic environment has made the decision to buy even more fraught.
“Given the dismaying economic news over the past few years, people are afraid,” Roberta Baldwin, a Keller Williams Realty parter who recently rented out four houses in Montclair, N.J., said. “This is the biggest purchase they’ll ever make, and for many people it’s too daunting until they’ve immersed themselves in the fabric of a place.” [more]