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You do have houses in NYC proper, number one . Number 2, there are people working 70 hours a week, at certain jobs in the city. (Wall Street comes to mind) if you're working like that, you're not in the mood for a suburban commute. You want to live close to where you work.
And lastly, the richest people can have NY residences and country estates somewhere.
Also, suburban doesn't equally affluent, either. NYC has poor suburbs, and certain suburbs are becoming even poorer (gentrification in NYC is at the expense of the suburbs)
A lot of poor people, including immigrants, are being pushed into certain parts of Nassau County, certain parts of Jersey, certain areas of Westchester, etc.
Reread my original post, it clearly states "If you have a decent job (salary of 125-200k range) of 1 person without much debt except home mortgage. Then you live following pattern..." Never did I post my original comment about rich folks.
Rich people who are in higher range have financial freedom to do whatever they want regardless of where they live whether it's NYC, LA, etc. Lastly if people are moving out to burbs for schools, why would they move to crappy area like Wyndanch or other 'ghetto' burbs.
Just like crappy areas like JC is cheap but most people who make in the range I stated live in nicer area. For 'middle class' in NYC, you have limited choice and migration patterns I listed are what most people do. Or they just completely relocate which is happening more and more I noticed.
I would send my kid to a Catholic HS. Not even Fordham Prep or Xavier come close to 30k. They are 17k this year. Also the thing with living in the Burbs's is that once your kids are done with schools then your still saddled with the huge taxes. I do understand why people move. I have a lot of good friends who would of stayed in the city but couldnt afford the house. For instance a house in Whitestone can easily be upwards over 750k but the same house 20 miles east is 450k plus the good Public schools. I understand the move.You get crushed in taxes in NYC. Best way to minimize tax is to live outside NYC as renter. Gotcha
Same here. As much as I'd like to stay in city but I can't afford something worthwhile and a private school. Plus...I hate to say it but my kid could turn out to be dumbass so might as well live in good public school district so they'll be guaranteed to receive best public education I can afford.
17k per child is 34k for two and catholic is def way to go. More and more are becoming 30-40k range now it's pretty nuts. Last I looked into it average private education in city was 34kish. I couldn't find the original article I saw but here's a news article about it. Plus I think it's going to be quite challenging for middle class parents to save for college tuition while paying for private education pre-college. Gives me chills just thinking about it...
My parents moved us to Long Island around junior high school and soon as we finished and went off the college. House was on the market hahaha. My parents were like, I don't really care even if I sell at a bit loss.
My family moved from the NYC/NJ area (we lived in Brooklyn (Carroll Gardens ), then Queens (Kew Gardens), then NJ (Bloomfield)) to the Charlotte, NC metro area in 2006. Our plan is to move back to NYC once our kids have graduated from school and are on their own. When we moved to NC I promised my husband that when the kids had flown the coop we'd move back to NYC and live out the rest of our days in the city he loves.
No idea where we'll decide to live (I say Queens, but my husband loves Brooklyn), but I'll be curious to see how the neighborhoods change in the years leading up to our return (sometime after 2022). I'm not so much worried about gentrification as I am about the ability to rent a nice 2-bedroom apartment so that we can have people stay with us when they come into town. And by "only" getting a 2-bedroom, our kids won't be able to move back in and mooch off us either! *lol*
I can see the lure of lower COL, but everything else in Texas seems to be the exact opposite of what NY stands for.
If I had to relocate tomorrow, I would look to move to a lower COL state that is more moderate.
For relocating purposes, I'd consider CO, WA or PA.
What about you guys?
Where would you relocate?
See told you lol Texas
NYeres will move anywhere where the cost of living is cheaper. Some jobs imo if not most NY jobs, when they transfer to another department they keep the same salary and well you can deduce the rest. For example:
NY: salary level 60K
Texas: salary level 40K
A person from NY can transfer to Texas and be paid 60K while the rest of the employers who started employment in Texas are paid 40K. Vice versa occurs too, but its more difficult to negotiate a higher salary if your current rate is lower than the new state's competitive level.
It happens more often than you think and is one of the many fallacies HR has. Another one is how HR likes to reward new employees more than already existing employees who are promoted from within. Makes no sense to me, but maybe an HR expert can highlight the hypocrisy of this.
NYeres will move anywhere where the cost of living is cheaper. Some jobs imo if not most NY jobs, when they transfer to another department they keep the same salary and well you can deduce the rest. For example:
NY: salary level 60K
Texas: salary level 40K
A person from NY can transfer to Texas and be paid 60K while the rest of the employers who started employment in Texas are paid 40K. Vice versa occurs too, but its more difficult to negotiate a higher salary if your current rate is lower than the new state's competitive level.
It happens more often than you think and is one of the many fallacies HR has. Another one is how HR likes to reward new employees more than already existing employees who are promoted from within. Makes no sense to me, but maybe an HR expert can highlight the hypocrisy of this.
Not sure if I qualify as an expert, but I can say part of the reason is anyone with NYC experience is almost guaranteed a job elsewhere. Employers from other cities take it seriously, because the thinking is that if you were able to be successful with a company here, any place else will seem like child's play in comparison. The rules tend to be far more strict here, especially when you can get fired on a dime because most employers here have an "at will" policy.
They will likely pay the same pay because they are trying to "woo" the new person and know they will have to pay their current salary or close to it in order to make it worth it for them to take the position. They also may likely hope to throw that person extra work for that money, in essence replacing someone else. So in the long run, they may end up saving.
I agree with Miss J 74. When I moved from NoNJ to Charlotte and interviewed with a headhunter, she asked my salary requirement, and I quoted what I was earning in NoNJ. She laughed and said there was no way I'd find a job in Charlotte for that amount. I laughed back and said I wouldn't accept anything less.
The very next day I interviewed with a company (an interview NOT set up by the headhunter) and by day's end I not only had an offer, but it was for the amount I requested. Upon accepting the position, I called the headhunter to tell her I would not require her services as I had already found a position. She asked what salary I received, and I when I told her, her shock was obvious by the silence on the other end of the phone.
I'm convinced it was my 8 years of service in NYC and two years at a leading NoNJ company that got me the salary I wanted in Charlotte.
I have lived in NYC/LI my whole life except for 5 years in the military. I'm moving to Houston for a new job and have always liked the area. You get more bang for your buck if you want to own a home. As others have stated it all depends on what you are looking for, I grew up in a house with my own room and would never consider living in a high rise building. My cousin also from Queens grew up in a house, but she wants to live in Manhattan. I was fortunate enough to get a position with higher pay in TX, and will be keeping more of my income instead of paying it in taxes. It costs $15 round trip to go from Queens to the Bronx, yet I drove from MS through LA and into TX without paying a toll.
San Antonio, Texas. Aside from the heat, it's been pretty great!
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and catholic is def way to go. More and more are becoming 30-40k range now it's pretty nuts. Last I looked into it average private education in city was 34kish. I couldn't find the original article I saw but here's a news article about it. Plus I think it's going to be quite challenging for middle class parents to save for college tuition while paying for private education pre-college. Gives me chills just thinking about it...
