Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
Sorry but I've always thought LI was an overpriced $hithole.
You have an amazing grasp of the obvious. That doesn't mean I don't share your feelings. However:
1. Right now is a tremendous RENTER'S (as opposed to RENTEEs) market. Lot's of people foreclosed upon or unable to get credit to buy and/or without a 20% down payment on a home. The rental market is hot.
2. LI has super few LEGAL apt buildings/complexes for rentals. Even the ones that look like it are probably coops or condos. Apt bldg? God forbid we become "another Queens." The vacancy rate for legal apts is probably less than 1%.
3. Because of #2, prices for a LEGAL apt are through the roof. Not just on LI. Try all over.
Good time to buy (if you have cash and love taxes), bad time to rent. Not just LI, but everywhere. Bushwick and East NY are overpriced $xxtholes too, but no one gets angry about it like LI.
Unfortunately rent prices have gone up 5% or higher in most areas and Long Island certainly fits the bill. Why not buy a condo or co-op or small house for 250k or less. With interest rates where they are it's certainly doable....
Unfortunately rent prices have gone up 5% or higher in most areas and Long Island certainly fits the bill. Why not buy a condo or co-op or small house for 250k or less. With interest rates where they are it's certainly doable....
You know absolutely NOTHING about this person but you're telling them that buying something up to $250K is doable. You are exactly the kind of realtor people complain about here all the time.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.