Why do you think 'no one' cares about the housing problem on Long Island? (apartments, foreclosures)
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I'm interested in your theories. This is the one major reason my family HAS to move out of state. We simply cannot afford anything here. Even if both my husband and I work (I can't do more than part-time due to childcare needs), we cannot afford a home here (or one of these 'mythical apartments.'). We aren't into big cars (we have one modest small car, excellent credit, no credit card bills). Not deadbeats, never on welfare or other programs. We just live modestly because we have to.
I wonder if 'anyone cares' about the 30-50 something people and their families here..? (also in other states like NJ where they have similar problems..)
the politicians don't care because we aren't making enough noise about it. when we start bombarding their offices with letters of digust & promises to never vote for them again(all CCd to the state & federal counterparts) because of the local zoning, building, school board scandals they will start to listen.
People need to stop assuming the government has our best interests in mind, we as a people need to TELL them what we expect.
People that are outraged about needing to leave LI should form a commitee or task group of other people in the same situation & start writing letters & petitions, these can be done online & can be very effective.
We have another big election year coming, use your power to vote.
People are too busy working so they can buy more crap at Costco or put more gas in the pig of an SUV to pay attention to how screwed were are around here.
I'm always amazed that this area is made up of so many highly educated, high income earners & yet I feel I am surrounded by some of the most ignorant, stick your head in the sand people on the planet.
People need to ACT if they want to see change, that is the ONLY WAY things have ever been accomplished in this country.
Hold on, is the local government forcing the people of Long Island to try and sell their homes for so much money? The people of LI have to take some of the blame for the current situation.
Hold on, is the local government forcing the people of Long Island to try and sell their homes for so much money? The people of LI have to take some of the blame for the current situation.
agreed, however with the current climate in lending & higher rates for people with less than stellar credit mortgages will be unattainable even if the housing prices adjust to where they should be, so we need to inspire our government to create realistic affordable rental communities so people can stay here, earn money, hopefully work on their credit & eventually buy homes here.
I agree 90% of sellers AND REAs need to get their heads out of their azzes, its not a game of monopoly, its real life & you can't always triple your investment when its time to sell.
I'm interested in your theories. This is the one major reason my family HAS to move out of state. We simply cannot afford anything here. Even if both my husband and I work (I can't do more than part-time due to childcare needs), we cannot afford a home here (or one of these 'mythical apartments.'). We aren't into big cars (we have one modest small car, excellent credit, no credit card bills). Not deadbeats, never on welfare or other programs. We just live modestly because we have to.
I wonder if 'anyone cares' about the 30-50 something people and their families here..? (also in other states like NJ where they have similar problems..)
Long Island suffers from FUIGM
(F*&k You I Got Mine)
Good luck finding anyomne under 40 at a local Civic Meeting
Why? They cant buy in and if they could they're too busy working to attend.
so we need to inspire our government to create realistic affordable rental communities so people can stay here, earn money, hopefully work on their credit & eventually buy homes here.
While I don't agree that it's government's place to create affordable rentals, I do believe that a long term problem with the Island has been a lack of apartments. But then nobody ever moved to the Island to rent anything other than a beach home. I also wonder if LI is past the tipping point where apartments and condos could have helped. In the late 80's and 90's when LI lost 20% of it young people I think it was already too late.
The other problem if apartments were built is what issues would they exacerbate? LI's infrastructure is already above capacity and adding more people to the mix wouldn't help. Also you have to define affordable and honestly look at who you are trying to keep on the Island. Are you building apartments to give the poor a chance, or the potential middle class newlyweds?
The market dictates its own terms. Politicians don't establish the value of a home.
If people are willing to pay $500k for a modest 4 bedroom house on a small plot then that's the price. Everyone is supposed to seek a place in the world where they fit both financially and socially. Harsh though it may be to accept if you can't afford to live on Long Island then so be it.
Fortunately for many the market appears to be in the midst of a serious and long overdue correction. I suspect that in the next 18 months there will be an abundance of foreclosure properties hitting the open market all over Long Island and those who have excellent credit, no debt and established income will be able to once again buy in without sacrificing their financial future (think 1997).
The market dictates its own terms. Politicians don't establish the value of a home.
If people are willing to pay $500k for a modest 4 bedroom house on a small plot then that's the price. Everyone is supposed to seek a place in the world where they fit both financially and socially. Harsh though it may be to accept if you can't afford to live on Long Island then so be it.
Fortunately for many the market appears to be in the midst of a serious and long overdue correction. I suspect that in the next 18 months there will be an abundance of foreclosure properties hitting the open market all over Long Island and those who have excellent credit, no debt and established income will be able to once again buy in without sacrificing their financial future (think 1997).
So the cycle will start over again and crash in the next 10 years? And where will those new buyers come from if foreclosures are the order of the day?
So the cycle will start over again and crash in the next 10 years? And where will those new buyers come from if foreclosures are the order of the day?
I personally believe that the worst is yet to come for areas like LI, Las Vegas, and the like, where property values shot so high and became grossly over-inflated in a relatively quick period of time. Obviously, a correction in the housing market is beginning to take shape there. However, it may just completely crash...and if it does...it will be much worse before it gets better. Just like this country after the 1929 stock market crash...it will eventually rebuild (and hopefully do it right the next time).
LI is getting there, but LV is ahead of them...just check out the forclosure rates in LV (highest in the nation). What happens then is that people foreclose, and areas start to become trashy, quickly...affecting all other property values and spreading like wildfire. LV is a study in RE crashing in its early stages...kind of like a thunderstorm, right before the first lightning bolt hits. You can just feel something bad coming.
Once the fires have burned out, and the ashes are left, the area can then rebuild.
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The people of LI have to take some of the blame for the current situation.
