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Old 06-03-2016, 01:08 PM
 
Location: Tierra del Encanto
1,778 posts, read 1,789,556 times
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Quote:
Originally Posted by nyccs View Post
How much did house values dip in Nassau in 2008-2009? Have they fully recovered now?
It don't know, it depends on where you are. Western Nassau seems to be recovering nicely, as it offers easy access to NYC. It's all about an easy commute these days.

My house in Western Nassau lost about $100K after the crash, and I think it's recovered about 60% of the value since then. Of course if you wait it out hoping for a full recovery, you risk another crash and paying such high taxes will negate the gains.
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Old 06-03-2016, 03:09 PM
 
13,507 posts, read 16,997,994 times
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Quote:
Originally Posted by gibson station View Post
This is a narrative i hear a lot, but is it true? Have any areas really fallen apart or been taken over by day laborers over, let's say the past 20 years? I think Long Island has been remarkably stable since I've been alive, at least. Places like Hempstead, Huntington Station, New Cassell, Brentwood etc. have been in poor shape for quite a long time. They seem no better or worse now. Places like Valley Stream and Baldwin have gotten more diverse, but can you really argue they've fallen down the ladder economically? I would argue they are exactly the same. Prime North Shore seems wealthier than ever and "good" South Shore towns have become more desirable, too. The only long-term trend I can see is that Suffolk has gotten a bit more crowded. Pretty remarkable, considering Long Island has indeed lost many big employers. My theory is that more Long Islanders may be working in the city and many smaller employers have replaced fewer large employers.

There's a lot of money sloshing around Long Island. Unemployment is low, median income is quite high. Things are expensive, but a lot of people have money and are doing just fine. This is no consolation for people who are struggling, and people who are unhappy tend to pipe up more and complain. People who are relatively content are more quiet.

What do you all think?
There are lower middle class areas in Suffolk that have turned or are turning from home ownership to rentals, and demographics are changing. Places like North and West Babylon, Lindenhurst, Islip, Bayshore..they are not "day laborers" but they are becoming much more Hispanic, both from immigrants and NYC transplants.

The upper middle class that can afford to live here is still doing fairly well. It's the areas that are working class that are effected. You end up with 3 generations living in a rental cape house where you used to have a family of 4 or 5.
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Old 06-03-2016, 03:28 PM
 
1,143 posts, read 1,530,653 times
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Quote:
Originally Posted by dman72 View Post
There are lower middle class areas in Suffolk that have turned or are turning from home ownership to rentals, and demographics are changing. Places like North and West Babylon, Lindenhurst, Islip, Bayshore..they are not "day laborers" but they are becoming much more Hispanic, both from immigrants and NYC transplants.

The upper middle class that can afford to live here is still doing fairly well. It's the areas that are working class that are effected. You end up with 3 generations living in a rental cape house where you used to have a family of 4 or 5.
Increasing numbers of Hispanics is just simply due to math. I'd be surprised if they are socioeconomically worse off than the white people they are replacing. It's just that the blue collar population is becoming more diverse. In the case of Bay Shore, in particular, my understanding is that it is nicer than it has been in a long time.
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Old 06-03-2016, 03:48 PM
 
Location: Bumpkinsville
852 posts, read 965,877 times
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Quote:
Originally Posted by manekeniko View Post
I agree, but only up to a point. If NY City's economy goes south (again), LI will crash much harder. Nassau in particular is tethered economically to NYC more than ever, as there's few viable businesses left here.

As Wall Street goes, so goes NY's economy. I also see some back office Wall Street jobs moving out of state or eliminated altogether. How many of you still trade stocks with a broker, as opposed to sites like Ameritrade?

Also, taxes here are about 5x the national average, while salaries are under $54K. The national average salary is under $52K. The COL of living on LI is at least 30% higher than average. This disparity is unsustainable, and I don't think I'm being a tin foil hat wearer for saying so.

I'm willing to listen to sense. Somebody convince me I'm wrong.
Very well-said!

Thinking about this subject as I was out doing some mowing in the interim, it occurred to me, that of the people whom I knew when I still lived there who worked on Wall St., every one of them has seen there job go away. With the exception of one person, no others were able to find another comparable job doing the same kind of work, or which paid as well. Some retired early; some went into other fields; some moved. It didn't happen all at once- but rather, slowly over the last 15 years- until now- I no longer know anyone who works on Wall St.



Quote:
Originally Posted by dman72 View Post
There are lower middle class areas in Suffolk that have turned or are turning from home ownership to rentals, and demographics are changing. Places like North and West Babylon, Lindenhurst, Islip, Bayshore..they are not "day laborers" but they are becoming much more Hispanic, both from immigrants and NYC transplants.

The upper middle class that can afford to live here is still doing fairly well. It's the areas that are working class that are effected. You end up with 3 generations living in a rental cape house where you used to have a family of 4 or 5.
Exactly. What happened in Queens in the 80's is happening on LI now. In the working-class neighborhoods, there's a very high chance that any big house will not be sold to a family, but rather to someone who is going to rent out rooms or apartments. In the cheaper areas, they may get purchased by an investor who will move in HUD Section-8 tenant. Then there are group homes, half-way houses, etc.

It gets to a point where a neighborhood can no longer recover. This is like what happened to Mastic and Shirley. A lot of the working/lower middle-class neighborhoods are getting close to that point. The worse it gets, the more the elected criminals have to take from the better neighborhoods; and in-turn, more and more people in such neighborhoods get sick and tired of paying more and more, only to see it used to destroy their communities and culture. - And now we even have Obozo and the "social justice warriors" wanting to forcefully infuse those neighborhoods with welfare loafers and criminals. So it's not just economic, but I'd say places like LI are reaching the tipping point in many different facets, and at a time when the family and Western culture are at a low point, and society is weak, because there is little unity or common values thanks to "diversity" which was foisted upon us; and most Americans are not in their houses for the long-term anymore; and the foreigners are ready to jump ship as soon as the gravy train slows down.

But so many refuse to see this, until it bites them in the chooch. They seem to be ignorant of what is happening in Europe, where this scenario has been playing out just a few years ahead of where we are here in America.
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Old 06-03-2016, 04:02 PM
 
12,769 posts, read 18,325,203 times
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A lot of the new homes being built now look the same. The original old-school homes on LI have character. Growing up all the homes on my block were different - ranches, splits, capes, big, small - it was nice
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Old 06-03-2016, 04:30 PM
 
Location: Tierra del Encanto
1,778 posts, read 1,789,556 times
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Now to continue my point, here is an article that sums up what's happening, and why I think inevitably NY will lose its mojo. What happens when this trickle becomes a gusher?

Where Goldman Sachs is outsourcing jobs - Business Insider

Downward pressure on prices is inevitable and I doubt we'll ever see prices like 2005 here on LI in our lifetime. The NY pension/public sector bubble has got to burst, but I have no idea what this will look like.
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Old 06-03-2016, 05:54 PM
 
Location: Bumpkinsville
852 posts, read 965,877 times
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Quote:
Originally Posted by Jdawg8181 View Post
A lot of the new homes being built now look the same. The original old-school homes on LI have character. Growing up all the homes on my block were different - ranches, splits, capes, big, small - it was nice
THAT is so true! Remember when there used to be small cottages, bungalows, capes, ranches, colonials, and everything else, all mixed together; all unique? Now everything looks the same, and the smaller houses and older houses are expanded, and have some fancy windows put in- the exact same ones that everyone else for a mile around has; and vinyl siding is slapped on, so everything looks artificial and the same; and the new houses are all the same- big house shoe-horned on a tiny piece of property (often several houses where one once was), all with big imposing edifices...maybe even some Greek columns- square and boring monoliths, with a few flourishes tacked on to try and make them look like a home instead of a box. No character.

I learned early-on, that LI was fairly unique for it's mixed architecture- old and new, big and small...it had character; something you don't see in many other places, because those places were planned and/or built up all at once- whereas LI came to be organically....but now it is looking more and more like the bland suburbs one sees everywhere else- it's like Levittown gone wild. Not for real people, but for people who live in a TV commercial or sit-com.
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Old 06-03-2016, 06:39 PM
 
1,143 posts, read 1,530,653 times
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Quote:
Originally Posted by Mumbly Joe View Post
THAT is so true! Remember when there used to be small cottages, bungalows, capes, ranches, colonials, and everything else, all mixed together; all unique? Now everything looks the same, and the smaller houses and older houses are expanded, and have some fancy windows put in- the exact same ones that everyone else for a mile around has; and vinyl siding is slapped on, so everything looks artificial and the same; and the new houses are all the same- big house shoe-horned on a tiny piece of property (often several houses where one once was), all with big imposing edifices...maybe even some Greek columns- square and boring monoliths, with a few flourishes tacked on to try and make them look like a home instead of a box. No character.

I learned early-on, that LI was fairly unique for it's mixed architecture- old and new, big and small...it had character; something you don't see in many other places, because those places were planned and/or built up all at once- whereas LI came to be organically....but now it is looking more and more like the bland suburbs one sees everywhere else- it's like Levittown gone wild. Not for real people, but for people who live in a TV commercial or sit-com.
Plenty of good stuff still left, especially in incorporated villages.
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Old 06-03-2016, 06:48 PM
 
1,143 posts, read 1,530,653 times
Reputation: 742
Quote:
Originally Posted by Mumbly Joe View Post
THAT is so true! Remember when there used to be small cottages, bungalows, capes, ranches, colonials, and everything else, all mixed together; all unique? Now everything looks the same, and the smaller houses and older houses are expanded, and have some fancy windows put in- the exact same ones that everyone else for a mile around has; and vinyl siding is slapped on, so everything looks artificial and the same; and the new houses are all the same- big house shoe-horned on a tiny piece of property (often several houses where one once was), all with big imposing edifices...maybe even some Greek columns- square and boring monoliths, with a few flourishes tacked on to try and make them look like a home instead of a box. No character.

I learned early-on, that LI was fairly unique for it's mixed architecture- old and new, big and small...it had character; something you don't see in many other places, because those places were planned and/or built up all at once- whereas LI came to be organically....but now it is looking more and more like the bland suburbs one sees everywhere else- it's like Levittown gone wild. Not for real people, but for people who live in a TV commercial or sit-com.
Mr. Joe - does this encapsulate everything you hate about Long Island:

Watch Mike's Marbleolopis From Saturday Night Live - NBC.com
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