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But what about people like myself who are not in defense, aerospace, or tech, and do not consider being on the train at 5 AM or earlier every day to be a reasonable quality of life?
Mits, what I was saying was that's why people lived on the Island back in the late 50's through the early 80's.
My neighborhood was made up of NYPD, transit police, construction workers and then guys who worked for Republic and Grumman, along with guys working in local business. Those days are gone and along with those reasons for living on the Island. I'd say move off the Island as at this point it's not even a great bedroom community for NYC.
Mits, what I was saying was that's why people lived on the Island back in the late 50's through the early 80's.
My neighborhood was made up of NYPD, transit police, construction workers and then guys who worked for Republic and Grumman, along with guys working in local business. Those days are gone and along with those reasons for living on the Island. I'd say move off the Island as at this point it's not even a great bedroom community for NYC.
They key to buying a home on LI is not moving out at 22 but living at home til ur late 20's like i did and save money that way instead of paying rent. Who can live comfortably on an entry level job and pay rent at 22 or 23? Very hard to do. I dont make a lot of $$ but the key was living at my parents rent-free and banking my money.
I did live with my parents until I was 31, and while that did help me save a lot of money, that does not increase my future earnings.
I did live with my parents until I was 31, and while that did help me save a lot of money, that does not increase my future earnings.
Yeah, there's the problem. For most people their future earnings are not going to keep up with COL increases that come down the pike every year on Long Island. It used to be you could have a regular middle class job and live in a regular middle class town and it would be all good till you retired. But now what you can count on is stagnant wages, downsizing, layoffs (which happens everywhere) and an ever-increasing tax burden (which can also happen other places but nowhere near the extent it will on LI).
You're in a tough spot - wife doesn't have a job, you live in fear of something happening with your job and you don't have a house that you want to raise your future family in. I feel for ya.
Location: Prince Georges County, MD (formerly Long Island, NY)
1,558 posts, read 2,724,810 times
Reputation: 1652
Quote:
Originally Posted by I_Love_LI_but
You fail to mention your "home" is a studio apartment you bought before the real estate bubble took off. Not a huge feat by any means.
Quote:
Originally Posted by Jdawg8181
They key to buying a home on LI is not moving out at 22 but living at home til ur late 20's like i did and save money that way instead of paying rent. Who can live comfortably on an entry level job and pay rent at 22 or 23? Very hard to do. I dont make a lot of $$ but the key was living at my parents rent-free and banking my money.
More power to you for owning your own place
BUT, it's still a hard proposition to make to make to people...living with parents until you're almost 30 just to afford a studio apartment. If we were talking about a starter home, or even a nice 2 bedroom apartment, I suppose I could swallow that. But a studio?
I suppose if you really do love Long Island, it's worth it. Otherwise, that's a tough pill to swallow, and is probably why so many young people don't return to Long Island.
Do I save up $50k (random figure) for a downpayment on a condo on Long Island, or a single family house somewhere else? After all, those of us who wants kids will surely want a place that would be conducive to that by the time we're in our 30s
I believe the bigger issue here is people want the top rated schools with a renovated 3bed/2bath for prices they see on house hunters. It's not gonna happen in NY. So how about purchase a home you can afford if you truly want to live on LI? Saw an ad for some houses in Mastic that actually looked decent for 100k.
Location: Prince Georges County, MD (formerly Long Island, NY)
1,558 posts, read 2,724,810 times
Reputation: 1652
Quote:
Originally Posted by Galicia#1
I believe the bigger issue here is people want the top rated schools with a renovated 3bed/2bath for prices they see on house hunters. It's not gonna happen in NY. So how about purchase a home you can afford if you truly want to live on LI? Saw an ad for some houses in Mastic that actually looked decent for 100k.
Now that's a fun commute to Manhattan...
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