Starter Houses on Long Island? (Babylon, Huntington: employment, transfer, homebuyer)

[LongIslandBubble]

Originally Posted by nancy thereader

I guess njguy means that when women began to work, the economy suffered because two incomes could buy a better house and thus the housing prices went up because they could go up ????? But, don't forget that pre-1974 or so there were very few single mom families. Many mothers have to work. There is no other choice.

Apparently; the idea of women's lib and getting women into the working world was just a devious plan to collect more taxes according to this video interview with Aaron Russo . I don't want to change the whole course of this thread; I'm not a conspiracy theorist, but I am open minded.
(forward the following video to 07:00)
Rockefeller Admitted Elite Goal Of Microchipped Population


Two incomes is part of the reason why prices went up, but the majority of it was from people taking mortgages with teaser rates; you cannot compete with someone using one of these loans; they are able to leverage a tremendous amount of capital short term. They were giving these loans out to anyone; you didn't even have to have a job! Ever hear of a NINJA loan? No Income, No Job or Assets.

It didn't matter if you used a traditional mortgage because those who used them, inflated the prices and many will just walk away now that these loans are resetting. Those who used traditional financing and put money down have alot more to lose; they were just sailing with a ship of fools.

It's like the penny stock scams; when someone invests alot of money in a penny stock and sends out emails to thousands of people that the stock is going to take off. Lots of people buy the stock which causes it to go up and the fact that it is going up, causes more people to get in and then suddenly the guy who originally bought alot of that stock sells it all and the stock collapses while he is laughing all the way to the bank.

[nbres]

Here is more on Aaron Russo.

You already know two of his films: Trading Places with Eddie Murphy and
Teachers with Nick Nolte.

Aaron Russo - Wikipedia, the free encyclopedia

[nbres]

This is frightening. Watch what your government is doing to us.


YouTube - America: Freedom to Fascism - Part2

[LongIslandBubble]

Originally Posted by nbres

This is frightening. Watch what your government is doing to us.


YouTube - America: Freedom to Fascism - Part2

Yes; What is really scary is that I just thought of him and he died 2 days ago.

Bladder Cancer at 64; I also didn't know he had bladder cancer.

[wisdom4me]

The houses on LI are CRAZY!!! Check out Har.com Its houston area mls homes then you'll see what you get for your money. I live in the Woodlands... excellent schools, lots of stores.. NO cowboys!

[PhilG]

I think I'm the only jerk that actually wants to move back to Long Island. I moved up to Albany for college in 1997 and stayed for grad school. I couldn't move back because of how much home prices went up while I was finishing college and getting a graduate degree. I decided to buy here in January of 2004, and I've desparately wanted to get back HOME since then. Everyone thinks I'm completely insane for wanting to go back. Only my parents and wife are supportive (I guess that's all who really count, anyway). I have a couple of hundred thousand dollars for a downpayment, but even then, how am I supposed to afford a 300k mortgage payment and a $1000/month tax/insurance escrow? My wife is officially a stay-at-home-mom by choice, and I am 100% supportive of that decision. Anyone have a job that pays
125k they could point me to? Otherwise, I'm stuck in grey, pothole covered, dirty, economically depressing, decent canoli-lacking, Albany.

[clamboy]

Originally Posted by PhilG

I think I'm the only jerk that actually wants to move back to Long Island. I moved up to Albany for college in 1997 and stayed for grad school. I couldn't move back because of how much home prices went up while I was finishing college and getting a graduate degree. I decided to buy here in January of 2004, and I've desparately wanted to get back HOME since then. Everyone thinks I'm completely insane for wanting to go back. Only my parents and wife are supportive (I guess that's all who really count, anyway). I have a couple of hundred thousand dollars for a downpayment, but even then, how am I supposed to afford a 300k mortgage payment and a $1000/month tax/insurance escrow? My wife is officially a stay-at-home-mom by choice, and I am 100% supportive of that decision. Anyone have a job that pays
125k they could point me to? Otherwise, I'm stuck in grey, pothole covered, dirty, economically depressing, decent canoli-lacking, Albany.

My sister did the same and never came back after UA

She LOVES it up there.

She is a SAH Mom now....they rented in Clifton Park but bought outside of Syracuse.

2200 Sft house 160k.(decent italian food too)

Stay....you need 125k to be broke here,move to Saratoga/Burnthills/CliftonPark etc
THe Northway towns look more and more like LI everyday
C

[PhilG]

That's what everyone tells me to do. I may stay out of finanical common sense, but deep down I miss LI. I have no family here except my wife and daughter, and she has only an estranged aunt/uncle who we don't ever see or talk to. My family is in Farmingdale, Lindenhurst, Babylon, Staten Island and Massapequa. We go down to visit every other month, and I visit old friends every time I visit for a long weekend. Financially it makes very little sense, but it stinks being away from my big Italian family that gets together on an almost daily basis in some way. Also, Albany really sucks and Syracuse, Buffalo and Rochester are having a very bad time economically. Rochester is pretty, though. Anyway, The Thruway towns are all basically vinal sided salt-box developments in cul de sacs off of a military style major intersection. I don't mean to sound bitter or anything; I've built a nice life for myself here, but having been all over the country and many parts of the world, I can say that LI is a very unique and an awesome place despite it's troubles. It's just a shame that it's so darn expensive. With a job paying in the low six figures up top about 125k I could provide my family with the same comfortable life we have here. We have absolutly no debt (other than our mortgage of course) and have a very large monthly surplus which we use for savings, investing, and our yearly vacation. Thankfully, I've been able to purchase some investment real estate before the boom (in Albany) and have more than a few hundred thousand dollars in total equity and savings. The ridiculous part is that a few hundred grand is only a downpayment on a nice family home in LI!

[sean sean sean sean]

Originally Posted by PhilG

That's what everyone tells me to do. I may stay out of finanical common sense, but deep down I miss LI. I have no family here except my wife and daughter, and she has only an estranged aunt/uncle who we don't ever see or talk to. My family is in Farmingdale, Lindenhurst, Babylon, Staten Island and Massapequa. We go down to visit every other month, and I visit old friends every time I visit for a long weekend. Financially it makes very little sense, but it stinks being away from my big Italian family that gets together on an almost daily basis in some way. Also, Albany really sucks and Syracuse, Buffalo and Rochester are having a very bad time economically. Rochester is pretty, though. Anyway, The Thruway towns are all basically vinal sided salt-box developments in cul de sacs off of a military style major intersection. I don't mean to sound bitter or anything; I've built a nice life for myself here, but having been all over the country and many parts of the world, I can say that LI is a very unique and an awesome place despite it's troubles. It's just a shame that it's so darn expensive. With a job paying in the low six figures up top about 125k I could provide my family with the same comfortable life we have here. We have absolutly no debt (other than our mortgage of course) and have a very large monthly surplus which we use for savings, investing, and our yearly vacation. Thankfully, I've been able to purchase some investment real estate before the boom (in Albany) and have more than a few hundred thousand dollars in total equity and savings. The ridiculous part is that a few hundred grand is only a downpayment on a nice family home in LI!

I lived in Albany for a few years and loved it, I'd love to move back actually....great place to live on a budget. I lived in Center Square, Pine Hills and Delaware neighborhoods all of them were great. Only bad things for me were getting used to the cold and the cops/parking...probably not the best place for a family but if you're young and you don't mind the noise and a little grime it's the best. I love LI too though, I wish there was some kind of area like downtown Albany around here.

[LongIslandBubble]

Originally Posted by PhilG

I think I'm the only jerk that actually wants to move back to Long Island. I moved up to Albany for college in 1997 and stayed for grad school. I couldn't move back because of how much home prices went up while I was finishing college and getting a graduate degree. I decided to buy here in January of 2004, and I've desparately wanted to get back HOME since then. Everyone thinks I'm completely insane for wanting to go back. Only my parents and wife are supportive (I guess that's all who really count, anyway). I have a couple of hundred thousand dollars for a downpayment, but even then, how am I supposed to afford a 300k mortgage payment and a $1000/month tax/insurance escrow? My wife is officially a stay-at-home-mom by choice, and I am 100% supportive of that decision. Anyone have a job that pays
125k they could point me to? Otherwise, I'm stuck in grey, pothole covered, dirty, economically depressing, decent canoli-lacking, Albany.

House prices on Long Island aren't the problem; they are overvalued and are coming down. I think many of the prices you see there will be cut in half. The real problem is the taxes; they will not come down.

You are better off staying where you are; maybe you should open your own bakery there for the canoli's.