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Old 08-03-2019, 01:36 AM
 
21,621 posts, read 31,207,908 times
Reputation: 9776

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Quote:
Originally Posted by CT_Yank View Post
I would say still losing value. My neighbors are selling at huge loss with 2014 purchase in tony Fairfield. They are below their buy price and put 70k in easy. Lots of examples of huge losses recently in my circle.
I don’t know about Fairfield, but I know Westport isn’t looking good. Anecdotal, but I have several friends and acquaintances that have sold their homes at steep discounts. It’s unfortunate.

 
Old 08-03-2019, 05:08 AM
 
6,588 posts, read 4,975,313 times
Reputation: 8041
Quote:
Originally Posted by GeoffD View Post
You can buy cheap property in CT, too. I see a $140K house in Killingly with $2,300 in property taxes. At the $10.10 minimum wage, a married couple both making a bit over minimum wage at $25K each could afford that. I see houses in Bloomfield priced like that. The property taxes are more like $3,800 but wages are higher around Hartford.
Absolutely! But in other areas, you get a lot more land (over 10 acres) and under $1000 in taxes - sometimes only around $500. That 140K Killingly house I see is under an acre.
 
Old 08-03-2019, 07:34 AM
 
Location: Connecticut
34,939 posts, read 56,945,109 times
Reputation: 11229
Quote:
Originally Posted by Chazbme99 View Post
Connecticut is having a problem with jobs disappearing. Our high paying white collar jobs are moving out of state. They are being replaced by warehouse jobs. $15 an hour minimum wage is not a serious wage. Connecticut used to celebrate bringing in new companies to build and invest in high paying career jobs. Now we boast about creating low end part time warehouse jobs. It is nice to see Amazon build warehouses and sorting centers here but those jobs do not have a major impact on our economy overall. We don't attract the high end tech jobs. Those go to states that offer lower taxes and regulations.
Not really. The jobs being added at places like Indeed, Charter, Pratt & Whitney, Electric Boat, Infosys and a number of others are not $15 an hour jobs. Jay
 
Old 08-03-2019, 07:37 AM
 
Location: Connecticut
34,939 posts, read 56,945,109 times
Reputation: 11229
Quote:
Originally Posted by BlackRocker View Post
I’ve beard similar from various people in Fairfield on anything that isn’t near or south of Post Rd. That area seems to be doing well.
My friends house is in Greenfield Hill and the builder I mentioned builds across town but mostly in Lake Hills and Fairfield Woods. Jay
 
Old 08-03-2019, 08:07 AM
 
24,559 posts, read 18,259,472 times
Reputation: 40260
Quote:
Originally Posted by JayCT View Post
Not really. The jobs being added at places like Indeed, Charter, Pratt & Whitney, Electric Boat, Infosys and a number of others are not $15 an hour jobs. Jay

It remains to be seen whether any Infosys jobs are actual additions. Infosys is an Indian H-1B contract job shop. They do hire US citizens at a steep discount after they're ejected by their employers. They have zero history of actually creating jobs. I know people who were let go by their employer and offered an Infosys job the same day so their employer didn't have to pay increased unemployment insurance. You turn down the Infosys job with the big pay & benefits cut and you can't claim unemployment.
 
Old 08-03-2019, 09:54 AM
 
Location: New Britain, CT
898 posts, read 598,017 times
Reputation: 1428
Well, there is a guy who doesn't post on the CT page who put his house on the market a year ago. Wants to move out. Can't because he can't sell his house. Gorgeous late 1800's colonial. I think 4br, but only one bathroom on the second floor. I think he dropped his price about $60k....no lookers. I think this is a common problem. People want to move but can't because there are no buyers in most of Connecticut.
 
Old 08-03-2019, 10:02 AM
 
2,362 posts, read 2,186,024 times
Reputation: 1379
Quote:
Originally Posted by GeoffD View Post
It remains to be seen whether any Infosys jobs are actual additions. Infosys is an Indian H-1B contract job shop. They do hire US citizens at a steep discount after they're ejected by their employers. They have zero history of actually creating jobs. I know people who were let go by their employer and offered an Infosys job the same day so their employer didn't have to pay increased unemployment insurance. You turn down the Infosys job with the big pay & benefits cut and you can't claim unemployment.
At least according to Infosys themselves they are massively changing their US operations business model to add their own system structure research lab, more "market making" between clients and software engineering firms within the US, and analytics wholesalers. If they actually are successful in that, or even try, might be another story but they are saying their adding brand new positions in areas they previously werent in.
 
Old 08-03-2019, 10:46 AM
 
2,695 posts, read 3,490,263 times
Reputation: 1652
Quote:
Originally Posted by JayCT View Post
So for all the Doom and Gloom some posters here like to claim, The Legatum Institute, a London based Think Tank, has ranked Connecticut No. 2 in the country (behind Massachusetts) on their prosperity index. What a great honor to be recognized by an international institution. Jay

https://usprosperity.net/
The article is funny. We rank high in water quality but low in economic quality. We can start selling our water to make up for our low economic rankings.
 
Old 08-03-2019, 11:34 AM
 
996 posts, read 379,113 times
Reputation: 453
Quote:
Originally Posted by Chazbme99 View Post
Connecticut is having a problem with jobs disappearing. Our high paying white collar jobs are moving out of state. They are being replaced by warehouse jobs. $15 an hour minimum wage is not a serious wage. Connecticut used to celebrate bringing in new companies to build and invest in high paying career jobs. Now we boast about creating low end part time warehouse jobs. It is nice to see Amazon build warehouses and sorting centers here but those jobs do not have a major impact on our economy overall. We don't attract the high end tech jobs. Those go to states that offer lower taxes and regulations.
You have a point. The present economic climate in CT along with other factors is a result of the transfer of jobs to other countries as part of the ideology of Globalism. There are now jobs that never existed , roads that were never there, and thriving economies in environments that were once stagnant and under performing. Thanks to the transfer of so many American jobs to these countries, CT ,and America are seeing more 21st Century Sweatshops In the 1960’s many a Sears Roebuck Retails employee’s cumulative Retirement Benefits are around double for an average Amazon worker for the projected same length of time.
 
Old 08-03-2019, 11:43 AM
 
Location: Connecticut
34,939 posts, read 56,945,109 times
Reputation: 11229
Quote:
Originally Posted by Mr_250 View Post
The article is funny. We rank high in water quality but low in economic quality. We can start selling our water to make up for our low economic rankings.
Actually it rates our economic quality as average (the point is in the midrange of ratings). It also rates our social capital as average but all others including business environment and market access & infrastructure as high. That is how we rank No. 2 overall. Jay
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