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Well developers and real estate investors see the housing boom going another 10 years.
They're redirecting their focus toward Transit Oriented Development. If there isn't much more land to buil on, if taxes are high enough to impact home sales, focus on the rental market to keep the money flowing.
You check your Brook-a-leen 'tude at the state line and you'll do fine. I have a close friend who works for Apex Parks and Rec, and knows more parents who have been banned from the sidelines there than any other town here. They all seem to be from east of 110. They've all also traded one set of issues for another by coming here and buying the biggest McMansion they can find in the most keep-up-with-the-jones neighborhoods...hopefully you did not fall victim to that and it works out for you.
The old "I moved from LI and now look what I can afford but don't look to closely because I'm paying out the wazoo for rental furniture and am living on rice and beans" attitude.
My BIL did that. My sister teetered on the precipice. She bought into the high-falluting beach community in Florida. She and her husband moved south partly so they could start a family and she could stay home and raise them. Turns out that she had to go back to work full time to pay for the mortgage on their southern albatross.
Head out to the north and south fork of LI and you will see locals being driven out by City people buying up homes out there and driving up costs.
This is true upstate in Dutchess, Columbia, Sullivan and Otsego counties also. I looked at listings of multi acre-sized properties and good ones looked very cheap compared to NYC metro but then, unaffordable to locals who earn local wages.
This is true upstate in Dutchess, Columbia, Sullivan and Otsego counties also. I looked at listings of multi acre-sized properties and good ones looked very cheap compared to NYC metro but then, unaffordable to locals who earn local wages.
The same for NYC houses....unless they were purchased in the 70s and 80s.....NYC house values seem so out of reach for most New Yorkers. House values have shot up while income has been stagnant and cost of living keeps climbing faster than inflation. Natives can't afford it unless they inherit a nice chunk of money ..only outsiders.
The same for NYC houses....unless they were purchased in the 70s and 80s.....NYC house values seem so out of reach for most New Yorkers. House values have shot up while income has been stagnant and cost of living keeps climbing faster than inflation.
Home price increases upstate are being fueled by buyers from NYC looking for weekend homes.
This is true upstate in Dutchess, Columbia, Sullivan and Otsego counties also. I looked at listings of multi acre-sized properties and good ones looked very cheap compared to NYC metro but then, unaffordable to locals who earn local wages.
The person to whom I responded made a point of blaming LIers for her area's plight. The reality, which I was trying to demonstrate, is that LIers are experiencing the very same thing.
The person to whom I responded made a point of blaming LIers for her area's plight. The reality, which I was trying to demonstrate, is that LIers are experiencing the very same thing.
Could this be as a result of more NYC plutocrats buying weekend homes? It looks like every other senior executive I bump into has a second home in Southold, Greenport, etc.
So if I read this right taxes aren't killing Long Island, they're just changing the economic demographic. Of course that doesn't help full-time Long Islanders.
We're hopefully finishing up our mortgage in 4 years, but when we think about the future and how it's stupid expensive (in every sense of the term) staying here, it's really not as beneficial as we initially thought.
Local gov't doesn't care though - whoever buys our house will just feed into it just the same.
And that's how it's been for decades. When I left we thought the same thing but somehow the Island grinds on.
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