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mongoose65 was on target. Job pay on LI has not kept pace with the cost of living. Most people think that the average LI job wage is high, but it really isn’t when compared to other areas of the country, about $60K or so - higher than other areas, but not enough to justify housing costs twice as much as the national average.
Now I've read that less that 25% of Nassau/Suffolk County residents commute to NYC jobs. It seems that the higher wages earned by these workers pushes the overall cost of housing up. So sure, the median household income on LI is over $100K, but you need 2 LI wage earners or 1 NYC wage earner to get to that level. This puts the single LI wager earner at a disadvantage because their housing choices are already limited, they are only one earner. So they are being out spent by the NYC earner or 2 income earners.
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.
Ha Ha. Some of us didn't have the luxury of staying on mommy and daddy's teat until 28. I was on my own at 17. Afforded a house on LI at 36. Barely. I paid rent from 17 to 35 on various jobs in various places. That's what MOST people did and still do. Amazing that you can brag about what you can afford and belittle others when you did it off the backs of your parents. A new level of arrogance even for these boards.
Mits: No soft way to say it but there is a price to pay for location whether it's being near a major metro draw like NYC or being near family. Migration is mostly based on financial survival.
Queens economy is blowing LI out of the water. Property values steadily on the rise. Your usual and predictable tunnel vision "condo" vendetta clouds any coherent thinking. Once again, LI has next to zero condos per capita and on average for suburban communities. It's all in your mind. Queens is building condos and malls where there used to be bodegas. LI is the one building 7-11's and bodegas where there used to be upscale retail.
Almost every train station on LI should have some sort of commuter apartment/condo development which would primarily attract younger people, spur development of walkable "downtowns" with shopping and restaurants and explode the economy and tax base.
The obstacle is NIMBY dingbats who fear any change to our "unique suburban character" (although they don't seem to mind a mass exodus of families and businesses and an ever-increasing tax burden).
"oh God....nooooooo....not another Queens!! Oh da horror...."
Wake up and smell the cafe con leche....Nassau already IS Queens!
I just bought a house in Merrick. My husband and I would have loved to stay in Forest Hills, but for the price of our house in Merrick, we could only afford a 2-br co-op in Forest Hills. Tons of young professionals and families, and lots of older residents seem to be staying also. I read in the Times that Queens is one of the only counties in the country that retained its real estate values through the economic downturn.
Ha Ha. Some of us didn't have the luxury of staying on mommy and daddy's teat until 28. I was on my own at 17. Afforded a house on LI at 36. Barely. I paid rent from 17 to 35 on various jobs in various places. That's what MOST people did and still do. Amazing that you can brag about what you can afford and belittle others when you did it off the backs of your parents. A new level of arrogance even for these boards.
Mits: No soft way to say it but there is a price to pay for location whether it's being near a major metro draw like NYC or being near family. Migration is mostly based on financial survival.
My parenta didnt give me any money... I worked for it and was smart about it.
If you work in the city there are closer places to live, though not quite as cheap. IMO people nowadays aren't willing to sacrifice. Living close to one of the most expensive cities in the country/world is going to have a big price tag. Affordable houses sounds great in theory but, unless everyone benefits from the new construction, how can it be built? The developer unless given tax breaks won't take a risk in investing so much capital in a structure he can't rent/sell for below market value. Then you have the nimby's who will protest anything they dislike. Search nesconsett garden apartments on City Data and you will see a classic case of this.
It's about more than the teachers. It's about programs and sometimes even safety.....depends on the neighborhood. Some NYC schools are EXCELLENT. Just like on LI, the good NYC neighborhoods don't come cheap. And then there was the NYC elementary school my friend worked in where a child was sexually assaulted in the stairwell (by a nut job who came in off the street). There was a whole scandal at the beginning of the school year where NYC public schools sent letters out to a lot of parents of kids with special needs, saying that they had no classroom placement for their children. No place for their kids to go and that their kids would be placed on a waiting list. And the parents were only told in Sept that there was no room in the NYC public schools for their children.
A lot of people move to LI school districts for programs and a sense of safety, more 1:1 attention for their kids, etc.
Personally I love the city. I am sure that we would live there if we didn't have kids.
I agree with this post exactly. It's not that every single LI school is better than every NYC school. I think the Dept. of Education is just a big, bloated mess that a lot of people want to avoid.
My parenta didnt give me any money... I worked for it and was smart about it.
You said yourself you didn't pay rent and SAVED the money. That's free money, dood, on the backs of your folks. It's super "smart" to save that free money, I'll give you that. Some of us had to give it to our landlord. That's kinda how the real world works when you're over 18.
Location: Prince Georges County, MD (formerly Long Island, NY)
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Quote:
Originally Posted by Galicia#1
If you work in the city there are closer places to live, though not quite as cheap. IMO people nowadays aren't willing to sacrifice. Living close to one of the most expensive cities in the country/world is going to have a big price tag. Affordable houses sounds great in theory but, unless everyone benefits from the new construction, how can it be built? The developer unless given tax breaks won't take a risk in investing so much capital in a structure he can't rent/sell for below market value. Then you have the nimby's who will protest anything they dislike. Search nesconsett garden apartments on City Data and you will see a classic case of this.
Which is why I never said it couldn't be done, I just said that many people weigh their options and realize they can get many of the same amenities elsewhere for a cost that falls more in line with their salaries.
As for affordable housing, they're doing it in the city. Look up the 80/20 housing program. Basically, they're mixed income developments.
In fact, since the Source Mall is already in hell's waiting room, why don't they convert the upper floors into mixed income housing and leave the restaurants at the bottom level. I know its a lofty plan that'll never happen, but it's worth thinking about.
Which is why I never said it couldn't be done, I just said that many people weigh their options and realize they can get many of the same amenities elsewhere for a cost that falls more in line with their salaries.
As for affordable housing, they're doing it in the city. Look up the 80/20 housing program. Basically, they're mixed income developments.
In fact, since the Source Mall is already in hell's waiting room, why don't they convert the upper floors into mixed income housing and leave the restaurants at the bottom level. I know its a lofty plan that'll never happen, but it's worth thinking about.
Funny you should mention that. The rumor I heard was the restaurants from the movie theater parking lot were moving there and the land was going to be converted to more apts. I believe Meadbrooke Pointe is the one from the Raceway? It's nutty out there.
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