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I grew up on Long Island, and now make around 100K. I am in my early 30's, have saved for a down payment, and am looking to start a family.
It's not that I don't think I can afford Long Island, it's that I don't think Long Island is worth it at this point. I still think that the houses are overpriced by about 30-50%, and the property taxes are way too high. The public employee bubble has not yet busted, and I am not interested in flushing $1,000 down the toilet every month until that happens. I could be saving that money for my kid's college, or for my own retirement. Anyone who is trying to pawn off their house at this point, I apologize. I will put off buying until you get your public employee pension problem under control and are willing to sell your homes at a level that is economically sustainable. Selling a house today for 280K that sold for 150K 10 years ago doesn't make sense. I would never by an investment that is so out of whack when you consider the average rate of inflation.
what boggles me is seeing so many middle aged people working retail probably making $9 an hour...where do they live??? do they rent apartments all their lives?
sadly, some people with careers also work retail to get extra disposable income and the store discount.
So tired of this BS. Childcare for one kid costs 10K+. People aren't struggling because of friggin baby slings. They also aren't struggling because they have flat panel TV's. That's a bunch of baby boomer talking point jibberish.
People are stuggling because the following necessities are far more expensive relative to income then they were 30 years ago when you only needed one income to survive:
Housing
Childcare
Medical Care
Education.
Not because of baby slings and TVs.
That's the truth. When both parents have to work it costs a lot to have someone watch your children.
Most young couples I know have the grandparents watching their children for free. My parents wouldn't offer and I don't think I would put that on them.
That's the truth. When both parents have to work it costs a lot to have someone watch your children.
Most young couples I know have the grandparents watching their children for free. My parents wouldn't offer and I don't think I would put that on them.
Its the least they could do after causing this mess.
Me generation my ass.
Tell them your moving their grandkids to tarnation and watch how fast they offer to sit.
Mustve been nice to live on one salary here in the 70s.
I grew up on Long Island, and now make around 100K. I am in my early 30's, have saved for a down payment, and am looking to start a family.
It's not that I don't think I can afford Long Island, it's that I don't think Long Island is worth it at this point. I still think that the houses are overpriced by about 30-50%, and the property taxes are way too high. The public employee bubble has not yet busted, and I am not interested in flushing $1,000 down the toilet every month until that happens. I could be saving that money for my kid's college, or for my own retirement. Anyone who is trying to pawn off their house at this point, I apologize. I will put off buying until you get your public employee pension problem under control and are willing to sell your homes at a level that is economically sustainable. Selling a house today for 280K that sold for 150K 10 years ago doesn't make sense. I would never by an investment that is so out of whack when you consider the average rate of inflation.
Young man - I applaud you. If you were my son - I'd be very proud of you. Take what you can from this over-rated Island (education, experience and memories) and move. Don't fall into the trap of falling for the sales pitch offered by those trapped here! Good luck and God Bless!
Median family income for Long Island for 2010 was $86,232.
I agree the cost of living on LI is high, the bureacracy of taxing districts is unrivaled, there are suburban areas where you can do better, but the list is short.
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