[radcliffi]

In retrospect, one year later - who had the accurate predictions?

RI IS a basket case. CT is going into its second winter of heating oil use. Another 5K professional jobs have tanked. Lehman has crashed. The vaunted Wall Street machine is being kept alive by our tax dollars. The local CT papers are pulling a George Orwell 'Newspeak' move - you can't find hard data about anything in them, only happy talk. I haven't been back, and would honestly like to know how CT is faring for old times' sake. Let's face it, we all like to think we made the right move, or have solid data with which to kick ourselves in the rear ends until the next big mistake.

I am still in a pocket of (relative) prosperity. The tax thing up there was a relief to escape. I am renting, and although house prices have come down, history says they still have 20% to go on the downside. I therefore won't sign up to become a funnel for fees, assessments, commissions and taxes by buying. Even assuming I had not taken an oath to boycott the banksters and their minions, who got our country into this mess. At least that's the way I see it, and the way I opine about what happened, in retrospect.

My gut tells me that if rents and prices are coming down here, CT could not have escaped being similarly affected. So, assuming that I could have found a professional job up there, the big difference is housing costs - paying my mortgage, repairs, taxes and fees would have nearly doubled my housing outlay. On the jobs front, I know seven friends who have lost professional jobs since I left, and none of them have found anything to replace 'em with. Two of them became real estate agents to get out of the house, and both of THEM are going to be let go.

So I fear that if I had stayed, I might now be flipping pancakes at IHOP and have had higher housing costs than i do here. Let's be honest, not everybody is cut out for sales - definitely not introverted me - I would have been kicked out of RE sales after the first week. Down here, I am an analyst with a reputation of three years' standing, and my rental costs are a little over half of what my housing costs were up there. Plus, down here, I have no heating bills or repairs to worry about.

In retrospect, I am glad I moved, if only because I think I can find another job if I lose this one. In three years, I have a reputation again, people know what i can do, there is still movement into and out of companies in my profession, and I have been very, very careful to underpromise and overdeliver.

Please don't get me wrong - I am not one of those masters of the universe. I am a middling professional with a middling job that I can do wherever there is a demand. There just happens to be demand here. Gives me some faith in my judgment: I ran the numbers and probabilities very, very carefully before I left. i am no longer at the age where I can easily recover from a financial disaster.

[JayCT]

I am not sure where you are that is still a "pocket" of prosperity but in general the economy here is fairing better than the national average. Is it great? No, but then again as I said we usually get hit later in a recession and come out of it later. Jay

[Appias]

Things are bad across the country, but CT seems to be doing fairly well relative to other areas. I'd say there is a slow leak on housing costs. Hard to say where the bottom is and trying to time it is tricky. The best time to buy a house is when you are ready (emotionally and financially) to buy and plan on staying put for a while.

[DanBev]

The posts here only reinforce my opinion of Ct.We did buy home in Vernon area and if I cannot get taxes reduced will sell and in all probability will sell.I did not look at overall picture of Ct and after following this forum I realize how much monthly will go down the drain for nothing in return.I did want to be back near family.

[mlassoff]

I'm not sure what Dan is talking about, but I have, a year later, found the move to be about the best decision I have made in my life. My QOL, being close to NYC, having great local restaurants and shopping, and being around smart people I understand has improved greatly.

Even my work has improved. Being in this area has opened up new consulting and training opportunities in NYC, NJ and Mass that have allowed me to increase my income 25% and lower my operating expenses.

And the pizza is damn good.

[Yankeerose00]

We moved here early this year and I'm very happy here.
When times are tough it's only natural to start dreaming of greener pastures. But you can rest assured that the whole country is suffering right now. Sure there are people who can move south and make a better living than up here. And then there are people like us who are faring far better than we did down south. So a person really has to move where it's best for them. But keep in mind, that the US is in a recession, not just CT.

On another note, I was very surprised when I read a recent article on the top 15 wealthiest counties in the US and Fairfield didn't make the list. In fact, a county south of Nashville was on the list. Most of the counties were in northern VA and MD around the DC area.

[EMBTaylor]

I think CT is a beautiful state but it's a hard life here ... just too expensive. And no, CT is not the wealthiest state. That designation goes to New Jersey.

[itscolduphere]

Foolishly, I bought right away in CT instead of renting first. I ended up in a beautiful new house in a horrible location, which I had to sell because of the location. I rented, and consequently found mold in the rental and had to move again quickly. We could not find an acceptable rental in time and ended up in NC. The housing here is fantastic. But it is not New England. I would love to move back to CT.... I keep scouring for a nice rental under $3k/mo. and cannot find it. (with 3+ bedrooms, central air, 2 car garage, that doesn't have mold, was built after 1951, in a safe, quiet location in the Farmington Valley, with a dry basement, etc.). I'm not even seeing much I would look at to purchase... same old same old homes on the MLS that have been for sale for 5 years.

CT is a beautiful state. We love it there... we really enjoyed what it has to offer, despite being ripped off several times by the same realtors, and having some tough rental luck. I feel sorry for people who are finding jobs in CT on this board who are looking for places to rent.... there isn't much. Darn... there is a real sad shortage of nice, clean rentals. No newer townhome complexes.... nothing! Where are these people living who are being hired by ESPN? I'm stumped. You would think there would be some nice homes people can't sell because of the market, that they'd be willing to rent. Like here in NC... I'm sitting in a new construction 5 bedroom 3000 sf house! But it's North Carolina. (Damn hot summers, fire ants, no culture, not much to do.....)

Times being what they are, I'm just thankful I have a house to live in .... (but I'm still stumped!)

[Yankeerose00]

there is a real sad shortage of nice, clean rentals. No newer townhome complexes.... nothing!

I know! I've been looking for a rental for my parents and can't find anything. It seems like it's either these 5k a month executive homes or these dumpy rentals or really old apartments.
I guess I got spoiled in Florida where there were new townhome and condo complexes on every corner. Do people just not rent here?

[itscolduphere]

Originally Posted by Yankeerose00

It seems like it's either these 5k a month executive homes or these dumpy rentals or really old apartments.

You're right, YRose. We're starting to wonder if we'll even come back at all, if any time soon. I like a nice clean kitchen and baths, clean fresh carpet, appliances that work, etc. I think landlords know there's a shortage of anything nice, and they use it to their advantage.... they know their dumps will rent because there's nothing else. And because of that, they don't replace the cracked bathtub, the leaking dishwasher, the a/c that craps out thrice a summer, the ice damn damaged roof, the mold in the wall upstairs, the fridge that doesn't stay cold enough... that's what we put up with at our rental in Avon! Yes, Avon... not Torrington, not Hartford, not New London... As if condition weren't enough of an issue, I know of several real estate agents and landlords who should be in jail for preying on people's need for something and newcomer's want of "New England Charm"... (but that's another can of worms)

So what's everyone settling for out there as far as rentals... is a scary thought, indeed, since we were paying "executive rental" rent for the above problems??? (we did not have a chance to "test" or closely inspect these things before signing)

It absolutely sucks to want to move back but have no housing choices. I refuse to buy yet, not in the current state of the market, and not where I can't rent first so I'm close enough to really check out any house I'm considering to buy. (Issues like high water tables in Simsbury, ATV and other redneck issues in Granby and etc). OK I'll stop griping... but we may end up in MA, VT or NH for no choices in CT.

YRose, good luck with your quest to find something for your parents. I guess if it were me (if I were already up there) I would approach sellers with a decent small home that's for sale and quietly ask them if they're willing to rent for a while, or with an option to purchase? My newly found realtor before we came to NC was willing to explore this option before time ran out, and we may also explore this option again.