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Old 09-04-2020, 07:50 AM
 
21,516 posts, read 30,916,542 times
Reputation: 9600

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Quote:
Originally Posted by Cambium View Post
https://www.cnbc.com/2020/09/02/manh...e-suburbs.html

Manhattan apartment deals fall 31% while sales boom in the suburbs

"Westchester County saw its strongest growth in homes priced at more than $1 million, which more than doubled over last year. And in Greenwich, Connecticut, the number of deals over $4 million increased six-fold compared with last year."

I know people who were paying $5000/mth in rent to live in NYC. If they can afford that, they for sure can afford an expensive home in the burbs.
Good article. NYC is getting decimated and the “structural” vs “cyclical” claim should be concerning to anyone who owns NYC real estate.

 
Old 09-04-2020, 12:14 PM
 
Location: Connecticut
34,636 posts, read 56,378,147 times
Reputation: 11150
Quote:
Originally Posted by bwv988 View Post
I lived in CT for 7 months while working for Bridgewater. I still kept my coop in NYC. So I went back to NYC every weekend. Eventually I got sick of CT, started commuting from NYC every day. That's when I realized things wouldn't work. So I left my cushy job at BW.

CT is boring as hell. Very few good food options. That's why it's cheap. Nobody wants to live up there. The novelty of living in the country wears off pretty quickly.
Yet the current boom in real estate here as well as the bust in New York City real estate and rentals show otherwise. A lot of New Yorkers are flooding the Connecticut market so it’s not “Nobody”. Not even close.

And if you were bored and could not find good places to eat, the problem likely is you. There is tons of things to do here and lots of great restaurants. Maybe you aren’t used to not having to wait three hours for a table so your stomach is confused. Jay
 
Old 09-04-2020, 06:06 PM
 
782 posts, read 472,962 times
Reputation: 1212
Quote:
Originally Posted by bwv988 View Post
I lived in CT for 7 months while working for Bridgewater. I still kept my coop in NYC. So I went back to NYC every weekend. Eventually I got sick of CT, started commuting from NYC every day. That's when I realized things wouldn't work. So I left my cushy job at BW.

CT is boring as hell. Very few good food options. That's why it's cheap. Nobody wants to live up there. The novelty of living in the country wears off pretty quickly.

It depends on your lifestyle. I hated CT when I was younger. Even living in Stamford after college for a year, I felt the same way (minus the restaurant comment. There are plenty of great restaurants.) When I was in Stamford, I went into the city constantly. Eventually, I moved to Boston. I was much happier and could never imagined returning. For a long time, I would have said the same thing.

Fast forward 20 years with a marriage and young child and the calculus changes. I just moved back. I don't need public transit or taxis to cart my drunk ass home from bars and clubs. For the last 3 years living in the city, I did very few "city" things that I can't do with a short trip to New Haven or a slightly longer trip Hartford. I bought 2x the house (on 10x the land) for 1/2 the money. Day one at my daughter's preschool, we met another couple who just moved to town. They came from Brooklyn. In my local FB group, every other day there is a post from a different person that reads something like "We just moved/are moving from NYC. What is the best landscaper/electrician/daycare/pediatrician/etc."
 
Old 09-04-2020, 07:40 PM
 
Location: USA
8,844 posts, read 5,878,334 times
Reputation: 28821
Taking off the NY plates on my car and putting on the CT plates was one of the saddest moments of my life. It was a long time ago, but I'm still sad when I think about it.
 
Old 09-06-2020, 05:11 PM
 
Location: Fairfield County CT
4,386 posts, read 3,262,941 times
Reputation: 2706
Florida Attracts More Northerners
https://news.yahoo.com/florida-attra...153334652.html

“We have seen unprecedented demand from all over the country, but certainly New York, New Jersey and Connecticut,”

I think people in the suburbs of NYC are cashing out early and taking an early retirement like my plumber. He went to Tennessee though.

Last edited by CTartist; 09-06-2020 at 06:12 PM..
 
Old 09-06-2020, 07:54 PM
 
Location: Coastal Connecticut
21,487 posts, read 27,718,190 times
Reputation: 6659
Hardly a scientific measurement, but still seeing tons of orange plates roaming around Milford on the weekend.
 
Old 09-06-2020, 10:44 PM
 
21,516 posts, read 30,916,542 times
Reputation: 9600
Quote:
Originally Posted by CTartist View Post
Florida Attracts More Northerners
https://news.yahoo.com/florida-attra...153334652.html

“We have seen unprecedented demand from all over the country, but certainly New York, New Jersey and Connecticut,”

I think people in the suburbs of NYC are cashing out early and taking an early retirement like my plumber. He went to Tennessee though.
I wouldn’t even consider a move to south FL as “cashing out” anymore. The appeal of a low cost of living down there is no longer the case. Under 300 for a home is impossible in a decent area. We have been looking and are sticker shocked at the prices people are asking for modest homes.

https://www.realtor.com/realestatean...hares_core_ldp

https://www.realtor.com/realestatean...hares_core_ldp

https://www.realtor.com/realestatean...hares_core_ldp

All way more than we wanted to spend without stretching and quickly coming to terms with sacrificing if we want to buy in that area.
 
Old 09-07-2020, 07:45 AM
 
Location: USA
6,582 posts, read 3,535,897 times
Reputation: 3373
Quote:
Originally Posted by CTartist View Post
Florida Attracts More Northerners
https://news.yahoo.com/florida-attra...153334652.html

“We have seen unprecedented demand from all over the country, but certainly New York, New Jersey and Connecticut,”

I think people in the suburbs of NYC are cashing out early and taking an early retirement like my plumber. He went to Tennessee though.
Friends up here can't get down to Parkland fast enough. They can afford it just fine.

Manhattan commuters tell me it's different down there. Strange, sinister, homeless are creeping in more, it's just not the same.

I'm with you though. I'm staying put on the Sound (and keeping a place out west).
I had designs on Scottsdale and S Florida for retirement. Those designs have been cancelled thanks in part to the wonderful work you guys do here.
 
Old 09-07-2020, 08:58 AM
 
Location: Fairfield County CT
4,386 posts, read 3,262,941 times
Reputation: 2706
Quote:
Originally Posted by kidyankee764 View Post
I wouldn’t even consider a move to south FL as “cashing out” anymore. The appeal of a low cost of living down there is no longer the case. Under 300 for a home is impossible in a decent area. We have been looking and are sticker shocked at the prices people are asking for modest homes.

https://www.realtor.com/realestatean...hares_core_ldp

https://www.realtor.com/realestatean...hares_core_ldp

https://www.realtor.com/realestatean...hares_core_ldp

All way more than we wanted to spend without stretching and quickly coming to terms with sacrificing if we want to buy in that area.
From the suburbs of NYC (which includes Fairfield County) many towns in FL are cheaper. Even my parents had a house in Port Charlotte on the West coast. It's a lot cheaper down there.

Look at the market report on Fairfield County.
Median Sales Price: $625,000

Average Sales Price: $968,000
https://www.williampitt.com/communit.../market-report
Don't forget this is not just one expensive town in Fairfield County. This is all of Fairfield County.

Look at the difference in all of Palm Beach County. The whole of Palm Beach County is low rent compared to Fairfield County. And Palm Beach County is one of the richest in FL I would think.

Palm Beach County Median Home Price: $335,000
https://www.realtor.com/realestatean...ty_FL/overview
 
Old 09-07-2020, 09:14 AM
 
2,289 posts, read 2,921,182 times
Reputation: 2286
Quote:
Originally Posted by CTartist View Post
Florida Attracts More Northerners
https://news.yahoo.com/florida-attra...153334652.html

“We have seen unprecedented demand from all over the country, but certainly New York, New Jersey and Connecticut,”

I think people in the suburbs of NYC are cashing out early and taking an early retirement like my plumber. He went to Tennessee though.
Those NYer's are buying someone's house, and those people are moving out of state.
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