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For a young couple starting out its almost impossible to get started, first buying a house and eventually starting a family. The home prices are outrageous, but what kills you in the long run are the taxes.....It seems like you have to be dirt poor or really rich to live comfortably in this state. For example: Presently paying $928/month for a 1 bedroom apartment. Buying a house is really intimidating. Especially when your looking at mortgages starting out at $1,800/month and thats for a townhouse/single family in a decent area. Isn't the rule of thumb that your mortgage payment should equal 1 weeks net pay?? That $1800 also doesn't include other monthly expenses, (electric, gas, water, sewer, car insurance, phone, cable, food, gas) and any other expenses I may have missed. I've been looking over in PA and although I've found the closing costs to be higher (real-estate transfer tax, buyer pays), the bottom line is that in the long run association fees and taxes are lower. So after putting all your saved up money down on a house, you pay out less each month, so you get to fill up the reserve fund quicker.
Isn't the rule of thumb that your mortgage payment should equal 1 weeks net pay??
I think that rule of thumb, while a sound one, has gone the way of Burma Shave. The insaitiable need for federal, state and local governments to tax us to death is the reason. If you check out your paystub, and compare the gross to net pay, you'll likely be outraged. And it goes a long way towards explaining why housing is no longer affordable for most. That saying was crafted many generations ago, when 40% of your pay did not vanish automatically before you even saw it.
Check out the Pa forum. They are very friendly over there and would help you locate a town that would best suit you and your family. Good Luck!
I agree that there are definitely very beautiful parts of PA, and *in general* it's cheaper there. ETA: Pennsylvania is on my mental list when I think about moving back to the NE in the future.
Watch out for new "developments"--my fabulously low-cost house in the Poconos in the late 90s DOUBLED in taxes after two years of my living there. Why? Because it's the same as anywhere else--when a place becomes desirable and begins to be filled up, more stuff is needed (more schools...more upkeep on more frequently-traveled roads...police...fire dept...etc.).
You will find on many forums that people have the same complaint just about anywhere in the U.S. that is local to a major city. I'm not downplaying NJ residents' angst about taxes, high home prices and/or high cost of living but all you will hear over and over again, all across the nation (check the Los Angeles forum some time, good God), is, "Why does it cost so much more now than when I was young...why are homes so much larger a chunk of the average income...why are the cities spreading wider and wider...what happened to small-town America...the middle-class is becoming extinct," etc. NYC is a MAJOR hub, not just of the northeast but, in many ways (for example, financial, etc.), of the country, so the surrounding areas feel the heat of that. This is a TOUGH situation and I hear you. Hon, it probably doesn't make you feel any better, but we are all in the same boat...feeling we're being squeezed out of what "used to be" livable (financially) areas, wondering how we can live in a safe, quiet area but still have a job that brings in any cash...feeling we're squeezed into either living in a crazy-busy and expensive area that's close to work, or moving to a cheaper area and commuting two hours...trust me, it's the same all over.
Sorry...that probably didn't help. I just wanted you to know that your feelings about this are real; many people are dealing with this and you are not alone. That's probably why so many people do relocate today. It's very tricky and sort of a tightrope walk to figure out how you can live close enough to get to a high-paying job, yet live in an affordable area. Many people (myself included) must also throw "good schools!" and "safe neighborhood!" into the mix. This only makes it tougher yet. I wish you luck in finding the perfect place for you.
Last edited by JerZ; 09-17-2007 at 10:11 AM..
Reason: "hours," not "areas"
It they were not here towns like paterson, passaic, hudson county, and loads of areas of NYC would open up. There would be more space available, thus more supply
Maybe I'm confused about the number of reported 'illegals' in the NYC/NJ area.. however, I'm *well* familiar with the overwhelming number in the southeast...
Growth begets growth, no matter WHERE you live. I've seen in in small town USA and moreover in big city/metro areas.
I relocated to Florida (Orlando) because I was in a similar situation (priced out of the state). Now I wish I could afford to move back to NJ. It is no picnic down here and good paying jobs are very hard to come by here. I have been down here over three years and have yet to get a good job. You may want to think twice before relocating, if that is your choice. The grass is not always greener someplace else.
Maybe I'm confused about the number of reported 'illegals' in the NYC/NJ area.. however, I'm *well* familiar with the overwhelming number in the southeast...
Growth begets growth, no matter WHERE you live. I've seen in in small town USA and moreover in big city/metro areas.
How is it that people are being priced out? More demand than there is SUPPLY.
I work in property management in NYC. Some of these illegals have taken over vast neighborhoods. Now those neighborhoods become inaccesible for lots of people because they do not want to live in "those" neighborhoods.
Which means the supply is now low. But there is still a high demand. Yes there will ALWAYS BE A HIGH DEMAND, but the supply should be higher too to make things more fair. But that is not the case
The supply is down in major metro areas, and why?
Now not everyone in "those neighborhoods" are illegals, but a large percentage must be
We have immigration quotas, and I doubt we would set that number so high as to allow a particular country to carve out SO MANY of its own niches here on our soil.
Last edited by NJ Chutzpah; 09-17-2007 at 10:04 PM..
if you have such a feeling of illegal immigrants taking over neighborhoods.. it's probably b/c you are letting them..
I live in Elizabeth, and at one time Elmora section was mostly Jewish people.. now it's extremely diverse.. approx 3 years ago many illegal immigrants started to move in the area.. sometimes there would be 8-10 people on a 3 bedroom apt. as this started happening many people started moving out of the area.. so nowadays more middle class people started to move in again b/c of the proximity to NYC and affordable housing.. rent/owned.. the area is starting to shift again.. many illegal immigrants can't afford living here and many owners do not want apartment stacking as they destroy the apts.. so the neighborhood is starting to pick up again..
keep in mind that NOT all illegal immigrants ruin neighborhoods.. it's also those ghetto fabulous people..
if you don't do anything to maintain your neighborhoods, don't complain.. as I call the cops everytime I see something weird.. noise.. loitering.. etc.. You have to take it personal as it's your neighborhood they are damaging.. believe me once you start talking to neighbors, you'll find out that they too feel the same way.. I have..
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Standard of living
