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I don't see young people starting out buying those houses. I see wealthy Asians and established professional couples and overpaid "consultants" who work for school districts and other politically-connected types buying them (and multi-family immigrant families all living in one house). Young people are living in their parents basements. Increasingly, many of them can not even afford their own car, because business and industry (and hence, decent jobs) are fleeing NYS. And the young who choose to stay and buy, are taking on a huge burden (and huge debts), and when we see a replay of 2008, it's going to be even worse this time around.
Everywhere I've gone around this country, I run into ex-LIers -much more so than I run into ex-NYCites or any other single group of expats from anywhere else. It's as if someone dropped a bomb and everyone scattered. When I moved here to the boonies of Bumpkinsville, far from any city or even an interstate, I thought for sure I'd be the only ex-LIer around. Turns out, there's another one right down the road from me, and I've met a bunch of 'em in the towen 20 minutes away where I do my shopping! (And this is the least likely place I'd ever expect to see an ex-NYer!)
I don't see young people starting out buying those houses. I see wealthy Asians and established professional couples and overpaid "consultants" who work for school districts and other politically-connected types buying them (and multi-family immigrant families all living in one house). Young people are living in their parents basements. Increasingly, many of them can not even afford their own car, because business and industry (and hence, decent jobs) are fleeing NYS. And the young who choose to stay and buy, are taking on a huge burden (and huge debts), and when we see a replay of 2008, it's going to be even worse this time around.
Everywhere I've gone around this country, I run into ex-LIers -much more so than I run into ex-NYCites or any other single group of expats from anywhere else. It's as if someone dropped a bomb and everyone scattered. When I moved here to the boonies of Bumpkinsville, far from any city or even an interstate, I thought for sure I'd be the only ex-LIer around. Turns out, there's another one right down the road from me, and I've met a bunch of 'em in the towen 20 minutes away where I do my shopping! (And this is the least likely place I'd ever expect to see an ex-NYer!)
How do you "see" who is buying anything? You don't live here. Your opinion from your bumpkinville trailer means squat.
All I can say is I see the restaurants packed, 90% of the cars on the roads are within 5 years old, I see 1,000's of kids playing travel sports that range from 1k-3k a year. No matter what gloom and doom you read on here I think many people do well here.
All I can say is I see the restaurants packed, 90% of the cars on the roads are within 5 years old, I see 1,000's of kids playing travel sports that range from 1k-3k a year. No matter what gloom and doom you read on here I think many people do well here.
Its misleading to assume people are "doing well" just because you see luxury cars in driveways, designer clothing on kids, fancy restaurants packed every day, etc. The fact is that many of these people are living on borrowed money and time - people who are subsidizing their lifestyle on credit card debt, or living off parents' funds. You dont know. The most recent Newsday story about the middle class family in N. Bellmore should tell you this - families who lived WAY more than their means and end up paying the price for it, sooner or later.
All I can say is I see the restaurants packed, 90% of the cars on the roads are within 5 years old, I see 1,000's of kids playing travel sports that range from 1k-3k a year. No matter what gloom and doom you read on here I think many people do well here.
You see what you prefer to see. This is no different from John the Westbury guy. He is chronically biased against Westbury, and he notices what confirms his biases.
I don't see young people starting out buying those houses. I see wealthy Asians and established professional couples and overpaid "consultants" who work for school districts and other politically-connected types buying them (and multi-family immigrant families all living in one house). Young people are living in their parents basements. Increasingly, many of them can not even afford their own car, because business and industry (and hence, decent jobs) are fleeing NYS. And the young who choose to stay and buy, are taking on a huge burden (and huge debts), and when we see a replay of 2008, it's going to be even worse this time around.
Everywhere I've gone around this country, I run into ex-LIers -much more so than I run into ex-NYCites or any other single group of expats from anywhere else. It's as if someone dropped a bomb and everyone scattered. When I moved here to the boonies of Bumpkinsville, far from any city or even an interstate, I thought for sure I'd be the only ex-LIer around. Turns out, there's another one right down the road from me, and I've met a bunch of 'em in the towen 20 minutes away where I do my shopping! (And this is the least likely place I'd ever expect to see an ex-NYer!)
Drinking the mid west kool aid again and babbling?
How do you "see" who is buying anything? You don't live here. Your opinion from your bumpkinville trailer means squat.
Hard as it may be for you to believe, some of us are aware of things which happen beyond our own little sphere of existence.
Quote:
Originally Posted by LegalDiva
Its misleading to assume people are "doing well" just because you see luxury cars in driveways, designer clothing on kids, fancy restaurants packed every day, etc. The fact is that many of these people are living on borrowed money and time - people who are subsidizing their lifestyle on credit card debt, or living off parents' funds. You dont know. The most recent Newsday story about the middle class family in N. Bellmore should tell you this - families who lived WAY more than their means and end up paying the price for it, sooner or later.
Exactly. Which is why there are still so many foreclosed/empty houses on LI. The dot-com crash was especially hard-hitting on LI, and the RE crash of '08 even more so, because on LI you already have people who may make rather high incomes, but who are often living paycheck to paycheck, mere weeks away from disaster should they hit a glitch; then, add to that the debt they take on in order to keep up with the Joneses and/or live beyond their means, and you have a large population which is very sensitive to any economic blips.
Of all the people I know, all over the country [most, former LIers] the only ones I've known who lost their houses during the dot-com or RE crash, were those still on the island. Americans in general have become slaves to taxes and debts, but such has reached it's peak in places like LI.
People are so short-sighted. They see business and industry leaving LI; they see the middle-class leaving, and yet they magically think that somehow everything can be sustained just as it ha been in the past, and that their $150K a year salary for being a cop or teacher or LIRR conductor will magically continue for ever, even as the tax base which pays for such things slowly dries up.
Hard as it may be for you to believe, some of us are aware of things which happen beyond our own little sphere of existence.
Exactly. Which is why there are still so many foreclosed/empty houses on LI. The dot-com crash was especially hard-hitting on LI, and the RE crash of '08 even more so, because on LI you already have people who may make rather high incomes, but who are often living paycheck to paycheck, mere weeks away from disaster should they hit a glitch; then, add to that the debt they take on in order to keep up with the Joneses and/or live beyond their means, and you have a large population which is very sensitive to any economic blips.
Of all the people I know, all over the country [most, former LIers] the only ones I've known who lost their houses during the dot-com or RE crash, were those still on the island. Americans in general have become slaves to taxes and debts, but such has reached it's peak in places like LI.
People are so short-sighted. They see business and industry leaving LI; they see the middle-class leaving, and yet they magically think that somehow everything can be sustained just as it ha been in the past, and that their $150K a year salary for being a cop or teacher or LIRR conductor will magically continue for ever, even as the tax base which pays for such things slowly dries up.
Lol another post proving that you really have no clue what's actually going on here. Also your useless anecdotal evidence that you cite all the time as bible is completely meaningless. Stick to bumpkinsville.
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