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There was a recent article in Newsday about declining home ownership rates. It lists Long Island communities with a population over 20,000. Look at Hicksville, and some other communities which have seen a substantial drop in home ownership & value, a much bigger decline than the median LI homes. In Hicksville, for instance, home ownership rate dropped from 87% to 82.4% in just a few years. Median home value declined from around $441.4K to $395K, that's a drop of $46,000! If that doesn't show a community in serious decline what does? Other communites like Franklin Square, Brentwood, Bay Shore, Glen Cove, and Elmont saw serious declines as well. This no doubt is a reflection of home owners leaving, and slumlords buying up these homes and renting them as illegal apartments or even rooming houses. Looking at the map and the numbers, it's no surprise that these areas in decline have substantial issues with illegal aliens. I was just in Hicksville by the train station today and am amazed at how much this area looks like New Cassel, which seems to have extended down W.John St into Hicksville.
The graph I saw in the paper looks different from this one in the link, but I'm guessing the root data is the same.
Using this graph for your premise really isn't good evidence b/c it compares the current property values to the year 2007, which was before the housing market crash/bubble burst.
If you scroll down, ALL of the LI communities surveyed had significant declines in property values. Plus, I can guarantee that if this map was created for the whole country then there would be similar trends for at least 95% of the rest of the country.
The thing that this map proves is that rich people/rich areas were affected less by the recession than both middle&working class areas.
This graph really isn't fair b/c it compares the current property values to the year 2007, which was before the housing market crash/bubble burst.
I can guarantee that if this map was created for the whole country then there would be similar trends for at least 95% of the rest of the country.
The only thing this map shows is that rich people/rich areas were affected much less by the recession than middle&working class aresa.
The actual numbers are more telling IMO. They show communities with large drops in the home ownership rate which is a more accurate measure of a declining community than home prices, since home prices have dropped all over the country. Brentwood lost 10% of owner occupied homes. Coram is now only at 65% owner occupied. Lindenhurst down to 79.4%. Any area that consists largely of single family homes and has a large drop in the home ownership rate is in trouble. It shows owners aren't occupying the houses and that they are being rented, most likely illegally and we all know the trouble that brings.
Using this graph for your premise really isn't good evidence b/c it compares the current property values to the year 2007, which was before the housing market crash/bubble burst.
If you scroll down, ALL of the LI communities surveyed had significant declines in property values. Plus, I can guarantee that if this map was created for the whole country then there would be similar trends for at least 95% of the rest of the country.
The thing that this map proves is that rich people/rich areas were affected less by the recession than both middle&working class areas.
It's comparing "2007-2009" to "2010-2012" - which is peak to last year. No clue why you don't find that "good evidence". Especially when you just throw out random numbers like 95%. lol
I'd be curious to see more towns - too bad they didn't lower the pop size.
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Rather than labeling a neighborhood "in serious decline " perhaps the data shows market adjustments to locales that were severly overinflated. There has been a severe economic shift as well as a severe weather event that affect large areas of the south shore.
It's comparing "2007-2009" to "2010-2012" - which is peak to last year. No clue why you don't find that "good evidence". Especially when you just throw out random numbers like 95%. lol
I'd be curious to see more towns - too bad they didn't lower the pop size.
The article compares 2007-2009, which was the time when homes were just STARTING to lose their value; to "2010-2012" which is DEEP into the recession when homes already had steep decrease in value.
You guys can't just ignore the impacts of the recession/real estate bubble burst and pretend it had zero impact on home values.
Last edited by PrestigiousReputability; 11-16-2013 at 08:57 PM..
The article compares 2007-2009, which was the time when homes were just STARTING to lose their value; to "2010-2012" which is DEEP into the recession when homes already had steep decrease in value.
You guys can't just ignore the impacts of the recession/real estate bubble burst and pretend it had zero impact on home values.
I think you misunderstand my point... or I don't understand yours. Nobody's saying LI was the only area to fall, so you shouldn't feel a need to defend that.
If I wanted to compare peak to as recent as I could, this is exactly the numbers I would look at - so it's excellent evidence of what happened to values. I wish I could see more areas.
There was a recent article in Newsday about declining home ownership rates. It lists Long Island communities with a population over 20,000. Look at Hicksville, and some other communities which have seen a substantial drop in home ownership & value, a much bigger decline than the median LI homes. In Hicksville, for instance, home ownership rate dropped from 87% to 82.4% in just a few years. Median home value declined from around $441.4K to $395K, that's a drop of $46,000! If that doesn't show a community in serious decline what does? Other communites like Franklin Square, Brentwood, Bay Shore, Glen Cove, and Elmont saw serious declines as well. This no doubt is a reflection of home owners leaving, and slumlords buying up these homes and renting them as illegal apartments or even rooming houses. Looking at the map and the numbers, it's no surprise that these areas in decline have substantial issues with illegal aliens. I was just in Hicksville by the train station today and am amazed at how much this area looks like New Cassel, which seems to have extended down W.John St into Hicksville.
The graph I saw in the paper looks different from this one in the link, but I'm guessing the root data is the same.
Johninwestbury is always a Debby downer!! I thought you were moving to nj? Now might be a good time, LI is crashing!
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