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Interesting article today on cnn.com... Talked a little about a group in the Netherlands sending international aid to communities in the US... I believe they primarly focused on the gulf coast, but they also mentioned "the new face of poverty; Long Island, New York"... The article is very short and does not give too much details, but it is interesting
Doesn't surprise me one bit. The middle class on L.I. has been dwindling away for some time now. You have to be super rich to live and enjoy the Island. All the regular folks I know are struggling, wrote about this many times. Nobody can " take out equity" or refinance and "cash out" anymore, so they have to live on what they got and it's not a pretty picture. With taxes and COL going up further, I don't see it getting any better in the near future but keep arguing back and forth who has a better New Jersey football team least it keeps your mind off the Island's problems.
You could always move him into your 5000 sq. ft. home. No?
Sorry to hear.
Sure Why stop there... besides him his wife the kids and dog, I should take in my other family members that are struggling too. I should go back to my old block on Baldwin and ask them if they would like to live with me also. See when we both bought homes on the Island back in the early 90's things were kind of manageable. When you try and keep up with the Jones ( BMW suv, expensive camps, vacations, cabana on the beach) and taxes go up 150% since = a disaster for trouble. I know a lot of people the bought before the 02-08 height and still owe more on their homes than they are worth. Like I said, they were rolling good as long as the housing market was artificially inflated, you could always go to your house for money. I know people that bought 10 or more years ago that once had a 20 year mortgage. Now 10 years later they have a 30 year mortgage and owe 525,000 on a home that probably worth 325-350K. They want to walk away but can't.
Yes you have have be fiscal responsible but when taxes go through the roof and you want to maintain some what of a lifestyle, something has to give. I warned friends and family years ago, this is just the tip of the iceberg.
I downloaded the report they are referring to in the article. It was commissioned by the Childrens Defense League.
At my son's job a manager was let go last week because the owner can get someone cheaper for the same position. 20 years with the company.
Families just getting by. You can be just a paycheck away from disaster.
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but keep arguing back and forth who has a better New Jersey football team
least it keeps your mind off the Island's problems.
Why stop there... besides him his wife the kids and dog, I should take in my other family members that are struggling too. I should go back to my old block on Baldwin and ask them if they would like to live with me also. See when we both bought homes on the Island back in the early 90's things were kind of manageable. When you try and keep up with the Jones ( BMW suv, expensive camps, vacations, cabana on the beach) and taxes go up 150% since = a disaster for trouble. I know a lot of people the bought before the 02-08 height and still owe more on their homes than they are worth. Like I said, they were rolling good as long as the housing market was artificially inflated, you could always go to your house for money. I know people that bought 10 or more years ago that once had a 20 year mortgage. Now 10 years later they have a 30 year mortgage and owe 525,000 on a home that probably worth 325-350K. They want to walk away but can't.
