<p> Financial Literacy Cross-Unit Assignment: Relocation </p><p>Assume that you and your spouse/friend are in your mid to late twenties and both are part of the workforce. As two working class people with a combined income of $135,000.00 you have decided to enter the housing market and therefore purchase you first home. The only problem, the cost of owning a home in New Jersey has escalated to the point where the average home is $350,000.00 and the overall cost of living is exorbitant. Obviously you cannot afford the down payment (normally 20%) and the monthly payments of mortgage and taxes (2,700.00).</p><p>After contemplating you future, you have decided to look elsewhere since both your occupations are flexible. Since you will be leaving the tri-state area you can assume that your income will decrease by 25%. You have saved only $25,000 (lots of student loans to pay off) for a down payment and to stay within the debt load of 25% for housing you can only purchase a home for under $200,000.00.</p><p>Now the big question, where are you going to live? Consider the following when choosing your future home.</p><p> Climate</p><p> Cost of living</p><p> Education</p><p> Social atmosphere</p><p> Distance from family</p><p> Culture…progressive</p><p> Entertainment</p><p> Job availability</p><p> Level of unemployment</p><p>Use any site you wish to help you find this information: Bankrate.com</p><p>Weichert.com Coldwellbankermoves.com</p><p>Remax.com</p><p>Realtor.com</p><p>City-data.com</p><p>Google the term “top cities to live in the us”</p><p>1. Research a place to live based on the criteria listed above and write out your reasons for moving to a particular area. (have a written reason for each criteria & have/save evidence # 2)</p><p>2. Cite evidence for each criteria to back up/prove your reasons from the research.</p><p>3. Attach a copy of the home listing that you choose.</p><p>4. List/Cite other things that you will have to consider from the units from the first semester (Financial Math, Goals, Budgeting, Credit, and Banking etc….) (more than one per unit)</p><p>5. Be specific!</p>