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not when your government policies create a bubble and not allow bubble to burst so real prices can be realized based on demand and supply and then create policies to fake a recovery by debasing the currency.
my personal take for LI: there 's a time to rent and then a time to buy...rent when you are single...when you marry and especially get a dog or kids you'll want privacy and your own back yard and not have to listen to the rules of a landlord..who wants to deal with how loud you can be and if you can make a hole in the wall...there's only so long one can take this college dorm crap... Generally when you get married you can afford a bit more or when you receive an inheritance from uncle angelo or grandma rose.....i think 12k-15k for taxes is on the high end..most houses in suffolk are under 10k. I've lived in a basement apt..for 4 years in a very nice small town..it's only 1000 for all and we live happily with our doggy..but we are running out of room and tired of getting no phone reception and now is the time to buy even though money will be tight...all the more reason to study and shoot for a better salary..
cost of a house will be double what we paying rent now ea. month but atleast we won't be pissing our rent money away with nothing to show for it in the end. it's nice to have your own fenced space to call your own even if you don't have much else..
my personal take for LI: there 's a time to rent and then a time to buy...rent when you are single...when you marry and especially get a dog or kids you'll want privacy and your own back yard and not have to listen to the rules of a landlord..who wants to deal with how loud you can be and if you can make a hole in the wall...there's only so long one can take this college dorm crap... Generally when you get married you can afford a bit more or when you receive an inheritance from uncle angelo or grandma rose.....i think 12k-15k for taxes is on the high end..most houses in suffolk are under 10k. I've lived in a basement apt..for 4 years in a very nice small town..it's only 1000 for all and we live happily with our doggy..but we are running out of room and tired of getting no phone reception and now is the time to buy even though money will be tight...all the more reason to study and shoot for a better salary..
cost of a house will be double what we paying rent now ea. month but atleast we won't be pissing our rent money away with nothing to show for it in the end. it's nice to have your own fenced space to call your own even if you don't have much else..
I think you're right on the money. Don't buy a house for the "investment potential," buy because you're starting a family or have one and you're looking at the lifestyle for your children.
I had a friend from the city come and visit my wife and I on Long Island. My friend's son, Sebastian, was 6 or 7 at the time and thought it was so great that every house had it's own park. It about broke my wife's heart and my friend moved to the burbs about 6 months later.
that's cute...my wife grew up in queens with a teeny backyard on a parkway with no room to play....of course i had been to queens before..but really seeing where she grew up...it was the opposite of me and i'm sure it wasn't as much fun as a kid.
my personal take for LI: there 's a time to rent and then a time to buy...rent when you are single...when you marry and especially get a dog or kids you'll want privacy and your own back yard and not have to listen to the rules of a landlord..who wants to deal with how loud you can be and if you can make a hole in the wall...there's only so long one can take this college dorm crap... Generally when you get married you can afford a bit more or when you receive an inheritance from uncle angelo or grandma rose.....i think 12k-15k for taxes is on the high end..most houses in suffolk are under 10k. I've lived in a basement apt..for 4 years in a very nice small town..it's only 1000 for all and we live happily with our doggy..but we are running out of room and tired of getting no phone reception and now is the time to buy even though money will be tight...all the more reason to study and shoot for a better salary..
cost of a house will be double what we paying rent now ea. month but atleast we won't be pissing our rent money away with nothing to show for it in the end. it's nice to have your own fenced space to call your own even if you don't have much else..
my personal take for LI: there 's a time to rent and then a time to buy...rent when you are single...when you marry and especially get a dog or kids you'll want privacy and your own back yard and not have to listen to the rules of a landlord..who wants to deal with how loud you can be and if you can make a hole in the wall...there's only so long one can take this college dorm crap... Generally when you get married you can afford a bit more or when you receive an inheritance from uncle angelo or grandma rose.....i think 12k-15k for taxes is on the high end..most houses in suffolk are under 10k. I've lived in a basement apt..for 4 years in a very nice small town..it's only 1000 for all and we live happily with our doggy..but we are running out of room and tired of getting no phone reception and now is the time to buy even though money will be tight...all the more reason to study and shoot for a better salary..
cost of a house will be double what we paying rent now ea. month but atleast we won't be pissing our rent money away with nothing to show for it in the end. it's nice to have your own fenced space to call your own even if you don't have much else..
The numbers do not support your opinion.
Go back 50 years and Real estate is a literal roller coaster. When you have tripled your money, suddenly RE is a "Good" investment. It's easy to talk like you when you are trying to get in and still can't afford to do so even in a down market.
Tripling on a bubble, then unless your done and checking out of this world you still need to live somewhere, which is now 3x more then it was. Its a relative situation when your discussing house to house, its a whole different perspective when your talking about first time home buyers. All high prices do is make young folks move away.
Tripling on a bubble, then unless your done and checking out of this world you still need to live somewhere, which is now 3x more then it was. Its a relative situation when your discussing house to house, its a whole different perspective when your talking about first time home buyers. All high prices do is make young folks move away.
"See Ya!, don't let the door hit you in the arse!"
This guy indiana wants to spend 250-300k for his first home... That's probably 4 to 5 times his salary and I'll take even money that he doesn't even have close to the 100k he'll need for 20% down, closing costs, updates the house will need, and reserve funds for taking on a mortgage that big. Unless of course, he's been gifted the funds to buy a house - which is probably your typical story there days.
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Lots of benefits but ...
It's easy to talk like you when you are trying to get in and still can't afford to do so even in a down market.
