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how? ... people in their late 50s-60s who basically hang out all day, play cards, walk up and down ... playing dominos or "chillng." ... seem to be happy, living life and just being a part of NYC with no stress.
Probably have rent capped at 30% of income. Whether pension, disability, or social security, they don't spend money! The remaining 70% is rationed to inexpensive groceries & a couple of dollars a day for spending money. They walk most places, don't have a cellphone or cable TV, don't buy new clothes, aren't spending $10 a day on cigarettes. Lot of old people do the same, all over the country. They've learned to get by on what little they have. Something others need to learn. If they have a spouse, also collecting a pension or SS, all the better!
Last edited by bigjake54; 05-31-2012 at 04:33 PM..
I don't know about that neighborhood, but in Queens it's not that uncommon to own your own house, especially if you've been around for a while. I have family that bought their house for $30k in the 70s, so a big part of young people's expenses (housing) isn't as bad for them.
A lot of older people are in rent stabilized apartments I know an older gentleman who is paying way below market value for his apartment in Brooklyn Heights.
I don't know about that neighborhood, but in Queens it's not that uncommon to own your own house, especially if you've been around for a while. I have family that bought their house for $30k in the 70s, so a big part of young people's expenses (housing) isn't as bad for them.
That house they bought for $30k in the 70's, what is it worth now? I have heard (don't know anybody personally) that there are people in this situation where the mortgage is long since paid off but the property taxes on the greatly increased value of their house has made paying the bills quite difficult.
All I know is that while ya complain and post comment on this post, those people are out there enjoying the summer! My opinion is that stop worrying about them and care about yourself. I believe that you see everything on others in order to feel good, That's not how things goes man. Or you want them to stay home so that you feel happy? Talking about culture most of these people don't come from technology times, They have fun outside playing with friends so don't expect us in the future be like them. I'm in college right now and all I want is to finish get a good job before my mom turn 52 so that she stop working. They may be disabled, under govt welfare, but at the end who cares. @ Least they not doing any harm to someone. Oh and maybe they work overnight, you never know.
That house they bought for $30k in the 70's, what is it worth now? I have heard (don't know anybody personally) that there are people in this situation where the mortgage is long since paid off but the property taxes on the greatly increased value of their house has made paying the bills quite difficult.
According to Zillow, most of the single family homes in the area are worth $400k to $500k, property taxes are between $2k and $4k a year.
That is precisely the point made by Kotlikoff and Burns in The Clash of Generations, a newly published book. Politically motivated decisions made Social Security payouts soooo generous that old people are now basically consuming the seed corn, and younger people will end up getting screwed.
I am an old person myself, and I will fight for the right to get the money promised to me. I don't have kids, so I don't care about young people. (That is, I do not exhibit "Ricardian equivalence", as economists put it.)
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