Here we are, Surviving in New Jersey... (Newark: relocation, property taxes)

[HumorMe]

QUOTE:

Is there such a thing as an affordable place to live in Jersey??????

----------------------------------------------------------

Where do all the people live (with children) on a 50k salary in Jersey?
With these requirements:

Good schools
low crime
NOT apartment living

We do it! We live in a nice home with four children on 52k a year.

[NickL28]

Why would you want to live in a place like NJ or any other suburb of the NYC metro area like Long Island or Westchester if you are only making $52,000 a year??

You could do much better in other parts of the country without the outrageous taxes, insurance, utilities, groceries, etc... Rents are also surging and the housing bubble is being reflated even as prices stagnate in the rest of the country. Even in the bad parts of JC & Newark a 1 bedroom apartment costs at least $1,500 + Heat/Hot Water. Plus you must make 45 times the monthly rent to even qualify.

[cyntmac]

Originally Posted by HumorMe

QUOTE:

Is there such a thing as an affordable place to live in Jersey??????

Where do all the people live (with children) on a 50k salary in Jersey?
With these requirements:
Good schools
low crime
NOT apartment living

We do it! We live in a nice home with four children on 52k a year.

That's great for you and your four kids. Do you want an award for this? Just because it's possible doesn't mean it's likely, realistic, or recommended.

This post shows up here often. If it's legit- remember that people from different parts of the country read this forum. They are mislead by disinformation posted here by trolls very often. That is unfortunate as city-data is a great idea/experiment and could be a real benefit to someone considering relocation. There are many people surviving in this state. They often have very limited options and still manage. Someone from another part of the country would not likely choose to be in survival mode with their kids in a state like NJ.

This thread states the obvious. We all know people can survive but that is not a useful thread once you've seen it over and over and over.
Thanks anyway. Nice try.

[griffit34]

Honestly you don't live in NJ, we have a combined income pushing 80K and we couldn't buy our 1st home without spending 300K and that mortgage is just not fair to burden. 2100-2600 a month plus daily living. Most everyone i know had something given to them in order to afford housing(ie money for downpayment, relative selling the house to them below market.)

[Onizuka]

The threadstarter clearly bought their home a long, long time ago before the housing bubble, and probably haven't had their property taxes reassessed in a while. Plus I would guess they're living somewhere in South Jersey.

[lauren29]

Lots of people do it! But there are better places to go and LIVE!

[tahiti]

Originally Posted by HumorMe

QUOTE:

Is there such a thing as an affordable place to live in Jersey??????

----------------------------------------------------------

Where do all the people live (with children) on a 50k salary in Jersey?
With these requirements:

Good schools
low crime
NOT apartment living

We do it! We live in a nice home with four children on 52k a year.

goodness, let's see, i can bet at least one of the below apply:

1) you bought your house at LEAST 15-20 (no, let's make that 1985 or earlier) years ago
2) you have little to no savings or retirement or college funds for those 4 children
3) you're up to your ears in credit card debt
4) you live below exit 6 on the turnpike, or exit 58 of the parkway
5) your "nice home" needs upwards of $30K in updates

that's wonderful that you can live as well as you state on that income. for people coming from elsewhere and who have to buy a home, or are firsttime buyers, it's simply not very realistic while being financially prudent at the same time. i lost sleep when my husband and i bought our first house for $140K 15 years ago on a $65K salary.

don't break that arm patting yourself on the back!!

[saganista]

Originally Posted by tahiti

...that's wonderful that you can live as well as you state on that income. for people coming from elsewhere and who have to buy a home, or are firsttime buyers, it's simply not very realistic while being financially prudent at the same time.

As in every other state, not everyhwere in New Jersey is the same. If you lived in Hunterdon County, for instance, the median household income for your county would be close to $90K. There would be a lot of other money out there competing with yours. If you lived in Cumberland County, however, the median household income for your county would be about $40K. Your money would have lots less competition there. Hence, it would go further. What might be completely impossible in one place can be reasonably attainable in another. As others have pointed out, the important thing is to be realistic, and realism implies being neither overly optimistic nor overly pessimistic about a given situation...

[milliebfit]

Originally Posted by Onizuka

The threadstarter clearly bought their home a long, long time ago before the housing bubble, and probably haven't had their property taxes reassessed in a while. Plus I would guess they're living somewhere in South Jersey.

I live in South Jersey and my husband and I could not afford to re buy the home we are in. There is no way we could live on 50 thousand a year even in South Jersey and we live well with in our means. I want to move out so bad!!! Some day......

[hemanshow]

I have heard this reasoning from friends that some townships in NJ increase thier propety taxes to ensure that a special 'class' of people can afford and live there.
It looks things are unaffordable in all north and central jersey.
It is bitter truth the people who lose from this housing bubble are the friends/family of those who are gaining from this bubble. :-)
sub-prime and home-equity loans tell another story of people who bought their homes 10-15 years ago.