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Your link states that Nassau homes are currently valued at $517k and Suffolk is at $373k. HOWEVER, in August 2007, the median home price in Nassau was $503k and for Suffolk it was $409k: https://www.newsday.com/long-island/...ity-1.13611744
This means that for Suffolk, homes have LOST equity and value instead of having ANY appreciation for 12 whole years! For Nassau, home value increased BARELY but have done horribly at keeping up with the rate of inflation so homeowners are still losing (ESPECIALLY when you factor in the cost of ownership like taxes & insurance).
That's because of congestion and property tax. Homes closer to the city and subways will rise much faster. Likewise, most homes far away from stations will decline in price.
Any time you have tax increases, it causes the value to drop.
Your link states that Nassau homes on average are currently valued at $517k and Suffolk is at $373k. HOWEVER, in August 2007, the median home price in Nassau was $503k and for Suffolk it was $410k as per this other Newsday link that shows ptlrice histories: https://www.newsday.com/long-island/...ity-1.13611744
This means that for Suffolk, homes have LOST a lot of equity and value instead of having ANY appreciation for 12+ whole years. In other words, Suffolk is still severely underwater!
For Nassau, home value increased BARELY (so its in somewhat better shape than Suffolk) but it has done HORRIBLY at keeping up with the rate of inflation so homeowners are still technically losing bad.
These reports really need to seperate Suffolk into categories. Western Suffolk lets say to Commack and Dix Hills prices are moving. Lots of very deep Suffolk isn't minus the east end.
I left Long Island 6 months ago and never looked back.
Occasionally, I check the news out there just to see what's up and every time I just shake my head. Congestion pricing (no cheap way off the island), LIRR increases, Applebees shootouts, heroin insanity. Could it get any worse? (It looks like Suffolk is dealing with the brunt of the decline.)
I can't believe I almost purposely bought a crappy $450k home and condemned myself to a life of long commutes, $15k+ taxes, $350 monthly LIRR passes, $19 tolls and ripoff PSEG. Yuck
Give me one reason to stay in this **** island and **** city.
The pizza, bagels, beaches, whatever.
There must be hundreds of other threads on this very same topic. Working remotely apparently allows the OP lots of time to pursue his or her I Hate LI hobby. Just for fun, a compilation of similar threads would be entertaining.
FWIW, I also work remotely and burn my share of time here, so look who's talking.
As for locations, Florida was off my list of low cost places to move to, although I have an interest in visiting the Keys. "God's Waiting Room" is at the center of a storm belt, prone to sinkholes, and basically a hot, humid skeeter swamp with gators that visit your yard. No, thanks.
Every place has its downsides, but Florida has too many. You couldn't pay me to move there.
There must be hundreds of other threads on this very same topic. Working remotely apparently allows the OP lots of time to pursue his or her I Hate LI hobby. Just for fun, a compilation of similar threads would be entertaining.
FWIW, I also work remotely and burn my share of time here, so look who's talking.
As for locations, Florida was off my list of low cost places to move to, although I have an interest in visiting the Keys. "God's Waiting Room" is at the center of a storm belt, prone to sinkholes, and basically a hot, humid skeeter swamp with gators that visit your yard. No, thanks.
Every place has its downsides, but Florida has too many. You couldn't pay me to move there.
If a place costs so little, you gotta ask why. You get what you pay for …
If you can work remotely and don't like it here then just leave.
Rails over Rails
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