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We bought house in 2006 in LI in good school district. We are trying to sale due to job move. Why market is still not recovered? I see in Texas housing market is so hot. Prices are going up every month. Even our neighbor NJ has good market. Why only in Long Island market is still down.
We bought house in 2006 in LI in good school district. We are trying to sale due to job move. Why market is still not recovered? I see in Texas housing market is so hot. Prices are going up every month. Even our neighbor NJ has good market. Why only in Long Island market is still down.
2006 was close to being the height of the market before the collapse. You won't see those prices again for quite some time, if ever again.
Houses aren't low or cheap. Unless you don't mind buying a knock down.
The prices are steadily creeping up.
I've been stalking the market as I am hopefully going to get my place up for sale this year.
I hafta finish some renovations and get one more kid graduated.
My house is officially worth $7.36 and a six pack of beer more than I paid for it in '07.
2 years ago it was worth about 15k less than I paid.
In a lot of areas house prices fell a lot more than they did on Long Island- so certain markets may be hot right now and prices may be climbing but they aren't back to 2006 levels.
Plus there is a lot of talk of another bubble- if there is, I guarantee those 'hot' markets will be affected far more than Long Island will.
High property taxes on LI depress home prices. It's also hilarious that people whose houses lost a lot of value in the crash are paying the same property taxes or more since 2006.
High property taxes on LI depress home prices. It's also hilarious that people whose houses lost a lot of value in the crash are paying the same property taxes or more since 2006.
Bingo. You get to pay $10k+ a year just to own your own home.
What they really mean is "why is my home still worth less than what I paid".
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