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My point exactly. This is why young people are leaving Long Island. The cost of living here is way out of whack with what they can possibly earn.
As you all are well aware, the same goes for all of the boros, Manhattan, etc. It's pretty much anywhere surrounding NYC. That was why people started flocking to the Bklyn neighborhoods, like Williamsburg (and now Astoria). They want to be close to NYC, and in doing that, created new hubs that have become very costly as well.
It's just common sense. Anywhere close to NYC is not going to be "affordable". So if you can't afford it, things aren't going to get cheaper. You will probably have to leave. To me that's the beauty of LI and anywhere close to NYC. High prices keep up a community overall. As we discussed in the other thread (regarding PA and what is happening there with all the "cheap" homes), sometimes cheap, affordable housing really isn't good for keeping up a neighborhood, and therefore property values. That's why it's a NIMBY situation.
I don't want to be anywhere near renters. That is why I rather live tightly in a higher end area, than comfortably in a moderate area that might have more rentals amongst me. Renters don't have any vested interest in a town, and I left Queens to get away from rentals. They really aren't good for anyone but the renter (& landlord/absentee landlord of course).
Unfortunately, once the young people leave they tend not to ever come back. What does that do for the future of Long Island? I think that we should not be so cavalier as to take the attitude "if you can't afford it, move". In order for any economy to sustain itself over time it needs people at all levels of the economic scale. The young renters of today should become the homeowners of tomorrow. That will never happen if they can not afford to live here now.
Glad2, But they're all over as this thread points out. Once upon a time Long Island was farmland until the single family homes started sprouting up, once upon a time a guy could be a clammer and afford a small house in West Babylon. Times change and Long Island being single family homes is already a dead issue.
Long Island has always suffered from a lack of competition in regards to apartments, more competition means possibly lower costs. One thing that many apartments are set up for here is having a co-renter. Two bedrooms, two full baths making cutting costs easier. How many bedrooms and baths does the average illegal have?
Unfortunately, once the young people leave they tend not to ever come back. What does that do for the future of Long Island? I think that we should not be so cavalier as to take the attitude "if you can't afford it, move". In order for any economy to sustain itself over time it needs people at all levels of the economic scale. The young renters of today should become the homeowners of tomorrow. That will never happen if they can not afford to live here now.
I would say if they leave and don't come back, over time demand would be much less than supply, and homes prices would drop drastically (I personally don't think this will ever happen, just answering your question). Then young people would likely be able to come back. So in the end, the market dictates cost. Obviously LI won't become a ghost town b/c things are overpriced for some, b/c it is not overpriced for many others (hence the supply and demand). Just like Manhattan. I don't think there will ever come a day when an apt/condo will be "affordable" ever again. And yet people still pay the $, have the $, and love living there. LI, NYC, the boros, SI, etc...these areas will always be considered "not so affordable" to own a home. And yet we don't have the housing slump that Arizona, NC, Fla, Etc have...so that's why it's all about location.
Unfortunately, once the young people leave they tend not to ever come back. What does that do for the future of Long Island? I think that we should not be so cavalier as to take the attitude "if you can't afford it, move". In order for any economy to sustain itself over time it needs people at all levels of the economic scale. The young renters of today should become the homeowners of tomorrow. That will never happen if they can not afford to live here now.
It's a fine line and I understand what both you and Glad2BHere are writing.
We were all young and starting out once. I lived I a taxpayer over a storefront in Babylon Village and then into a succession of 2 illegal apartments before renting 1/2 a house -- which I do believe was also carved up illegally. I finally rented a small cottage in Rocky Point with my husband. It was very 'cozy' *ahem* SMALL and we could finish one another's thoughts as well as the dog's. But it allowed us to squirrel away a lot of money for a downpayment. We cut back on everything and a 'splurge' was a pizza with shrimp and garlic.
Granted, this was before the market went insane. We had $40K to put down, which would go anywhere near as far now.
The county siezes properties for back taxes; why not start taking them and instead of auctioning them off, put moderate range ones (starter communities) into affordable housing lotteries?
Wasn't that done before in Suffolk? I think the question arose around who got the profits on the re-sale, the owner who got the house at a discount or the County.
Glad2, But they're all over as this thread points out.
What is? Illlegal apts?
I am not saying they aren't. I am answering the OPs question that I would report them and I am not a fan of them. You don't have to convince me, I know they exist. But none really in my neighborhood that's for sure. They wouldn't last a second withouth getting reported.
Last edited by Glad2BHere; 03-04-2008 at 02:51 PM..
Wasn't that done before in Suffolk? I think the question arose around who got the profits on the re-sale, the owner who got the house at a discount or the County.
Actually, the auction of Suffolk County properties gives preference to those who agree to live in them as a primary residence for (I believe) five years.
I agree with Glad2BHere, Market drives and sets prices. If there is a workforce drain on LI, what will happen? Salaries will increase drawing people to LI for those positions.
Look a nursing. Want to live on LI as a young person. Be a nurse. Big shortage. My neighbor graduated nursing school, which was paid by the hospital for a 3 year commitment and started at $56,000 with no overtime. Once she past her LPN test her salary went up another $10,000.
Here is another issue with our "poor" young people, (& I'm only 39!). I feel that the "20 somethings" want everything their parents have, right away! Do they drive old cars? NO! They lease new ones. Do they work a second Job? NO! They need to go to the city clubs and blow $300 for a night out. Of course, this is not everyone but a general trend. My wife & I worked our a**es off for 15 years to buy our home and live where we want. Only now, are we beginning to feel the benefits. Its hard but it can be done.
I do inspections for young couples who then pay $1000's of dollars to have the interior painted! What's wrong with painting your own house and saving some money? Man, I did everything in my house myself for 10 years. Why? Because I could not afford to have someone else do it.
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