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View Poll Results: Is 100k a large salary for Long Island?
Yes 42 25.93%
No 120 74.07%
Voters: 162. You may not vote on this poll

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Old 04-14-2011, 08:21 AM
 
Location: Tri-State Area
2,942 posts, read 5,992,861 times
Reputation: 1839

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Quote:
Originally Posted by kunk10 View Post
i know a couple in gc that have 3 bmws and a huge house and go to dinner 2 or 3x a week but are 3 months behind on mortgage. I am so glad I don't have cc debt and will soon have no car payment, it's no way to live.

You know the saying as Dean Wormer said "dumb and stupid is no way to go through life".
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Old 04-14-2011, 08:56 AM
 
Location: Union County
6,150 posts, read 9,985,864 times
Reputation: 5831
Quote:
Originally Posted by kunk10 View Post
i know a couple in gc that have 3 bmws and a huge house and go to dinner 2 or 3x a week but are 3 months behind on mortgage. I am so glad I don't have cc debt and will soon have no car payment, it's no way to live.
I read a report (believe it was from Goldman Sachs) that about $50B in spending is being pumped back into the economy via unpaid mortgages nationally. It's helping GDP.

Also to FrmlyBklyn's point - revolving debt is spiking again, when in doubt put it on a card.
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Old 04-14-2011, 08:58 AM
 
Location: Inis Fada
16,966 posts, read 34,609,717 times
Reputation: 7722
Quote:
Originally Posted by kunk10 View Post
i know a couple in gc that have 3 bmws and a huge house and go to dinner 2 or 3x a week but are 3 months behind on mortgage. I am so glad I don't have cc debt and will soon have no car payment, it's no way to live.

Was rolling through the realtytrac.com last night looking up foreclosures. Interesting to learn which of my friends and neighbors is currently in the Lis Pendens.

It's not the schmoes like me driving a car I bought used, living in a small house, cutting coupons and shopping sales. It is the ones with the European imports and Humvees, living large N25A.

If you're looking in Old Field -- there might be two good deals coming up soon.
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Old 04-14-2011, 09:22 AM
 
Location: Pixley
3,519 posts, read 2,808,878 times
Reputation: 1863
Quote:
Originally Posted by kunk10 View Post
yes, this country is clueless. no one thinks about the big picture as long as we have flat screens and new leased cars. will be a rude awakening when we cant pay for our childrens' college educations and they are living with us til they are 30. This country is totally complacent as long as they have their bourgeois crap.

1st world problems really aren't problems at all.
That is the first part of the problem. The second part happens in 20 years when the parents have to live with the kids because having flat screens and new leased cars was more important than saving for retirement.

It could be worse on LI as their "gold mine" house equity ran dry because home values didn't triple every 10 years like they thought would happen.
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Old 04-14-2011, 09:28 AM
 
150 posts, read 297,166 times
Reputation: 60
Quote:
Originally Posted by OhBeeHave View Post
Was rolling through the realtytrac.com last night looking up foreclosures. Interesting to learn which of my friends and neighbors is currently in the Lis Pendens.

It's not the schmoes like me driving a car I bought used, living in a small house, cutting coupons and shopping sales. It is the ones with the European imports and Humvees, living large N25A.

If you're looking in Old Field -- there might be two good deals coming up soon.
I've considered buying the RealtyTrac subscription. Is it worth the money? How would you review it? We may be looking in this sphere for ourselves next year.

Our household makes a little about the thread title, not sure how anyone can consider that large, maybe if you carried no debt whatsoever, like the student loans that help you get to those numbers.
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Old 04-14-2011, 09:30 AM
 
Location: Nassau, Long Island, NY
16,408 posts, read 33,218,769 times
Reputation: 7338
Quote:
Originally Posted by Redd Jedd View Post
That is the first part of the problem. The second part happens in 20 years when the parents have to live with the kids because having flat screens and new leased cars was more important than saving for retirement.

It could be worse on LI as their "gold mine" house equity ran dry because home values didn't triple every 10 years like they thought would happen.
Yet the property taxes at least triple every 10 years! Not fair!
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Old 04-14-2011, 09:54 AM
 
Location: Inis Fada
16,966 posts, read 34,609,717 times
Reputation: 7722
Quote:
Originally Posted by TheLists09 View Post
I've considered buying the RealtyTrac subscription. Is it worth the money? How would you review it? We may be looking in this sphere for ourselves next year.

Our household makes a little about the thread title, not sure how anyone can consider that large, maybe if you carried no debt whatsoever, like the student loans that help you get to those numbers.

I have the subscription for DH's business. Never know when an opportunity might present itself -- but for me it is a matter of monitoring out of state property. When I look locally, it's me being a nosy yenta.

If you are interested in a certain area send me a DM and I can send you some info. Save yourself the money. As for the site, it gives you name, property info, mortgage info, date it went into Lis Pendens, etc. In addition to the foreclosures you can track properties for sale, bank owned, auctions, etc. I do believe they offer some sort of a trial -- 1 week if I am not mistaken -- but you have to give your CC #. Before the trial is up, you have to cancel.
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Old 04-14-2011, 12:08 PM
 
Location: Glen Head, NY
840 posts, read 2,439,083 times
Reputation: 396
it's all relative. without sounding like a douche we make what any normal person would consider a lot of money but we live like we make half of it. We have a 3yr old minivan that's nearly paid off and I wanted a sports car so I bought a used one for cash. We live simply, one vacation a year. I like nice clothes but I will never understand having to have the biggest house or an 80k car.


Quote:
Originally Posted by TheLists09 View Post
I've considered buying the RealtyTrac subscription. Is it worth the money? How would you review it? We may be looking in this sphere for ourselves next year.

Our household makes a little about the thread title, not sure how anyone can consider that large, maybe if you carried no debt whatsoever, like the student loans that help you get to those numbers.
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Old 04-14-2011, 12:47 PM
 
Location: Little Babylon
5,072 posts, read 9,117,630 times
Reputation: 2611
Quote:
Originally Posted by I_Love_LI_but View Post
Yet the property taxes at least triple every 10 years! Not fair!
What, ya think it's cheap keeping the Island close to NYC and those beaches?

Just an odd observation, my property taxes went up when the value of my property went up, and down when the property value went down. It's a crazy system someone came up with, but I've learned to live with it. Would it be safe to say that property taxes on the Island have little to do with the actual value of the property?
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Old 04-14-2011, 12:51 PM
 
Location: Little Babylon
5,072 posts, read 9,117,630 times
Reputation: 2611
Instead of "Is 100k a large salary for Long Island?", a more scarier question to ask would be Is 100k a large salary for an employer to pay for rank and file workers? After all if 100K isn't enough you all better be worrying about enough business moving to or staying around the Island.
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