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School and subway overcrowding in Queens is driving demand for housing into Nassau County, where school enrollment is stable and the East Side Access project will increase LIRR capacity into Manhattan.
I agree. The East Side Access will help a little. There is still awful bottle neck of LIRR routes throughout LIRR from single track, non electric lines, etc. Then there is the commuter parking mess. Bottom line, building more housing without the infrastructure is a recipe for a disaster.
Nassau County is unwilling to supply housing and is being overwhelmed by demand. That is why home prices are rising.
Thing is, I'm not "married" to LI. I could easily be happy settling in Westchester and I prefer Grand Central to Penn Station, but it's more expensive and I don't like the houses as much (based on inventory all summer through now). The houses in our price range tend to be old (1920's-1930's. Personally I am not a fan of that), be kind of "rustic" (lots of trees), and not much of a backyard. Give me plain, flat LI any day, hopefully in 5 years we'll have east side access and I'm good!
But if the market doesn't cool I'll just keep renting. I'm patient. I can wait. And we're not LI lifers so we're keeping an eye on the whole metro area. Even jerz.
But if the market doesn't cool I'll just keep renting. I'm patient. I can wait. And we're not LI lifers so we're keeping an eye on the whole metro area. Even jerz.
I was like you a several years ago. I was so perplexed by how Long Island was so expensive, yet so high in demand. Who was buying these homes? How? Are they doing the math? Are they overextending?
I was sitting in the sidelines having philosophical debates with my friends and family about housing, waiting for interest rates to tank the market, trying to figure it all out as the market kept on moving. For every dollar I saved, the market went up 1.5. I missed a home in a north shore neighborhood that would have appreciated 400k since 2013.
Eventually, it was time. I caved, and bought. Frankly, for our situation, it was the smartest thing we've ever done. We have a place to call our own, we feel content, comfortable, safe and the fact that our house has appreciated 6 figures helps.
I see some similarities with how you're talking about things. You can't will the market to soften, and it seems like you're going to be even more upset in 3 years if homes creep up another 20 percent.
I was like you a several years ago. I was so perplexed by how Long Island was so expensive, yet so high in demand. Who was buying these homes? How? Are they doing the math? Are they overextending?
I was sitting in the sidelines having philosophical debates with my friends and family about housing, waiting for interest rates to tank the market, trying to figure it all out as the market kept on moving. For every dollar I saved, the market went up 1.5. I missed a home in a north shore neighborhood that would have appreciated 400k since 2013.
Eventually, it was time. I caved, and bought. Frankly, for our situation, it was the smartest thing we've ever done. We have a place to call our own, we feel content, comfortable, safe and the fact that our house has appreciated 6 figures helps.
I see some similarities with how you're talking about things. You can't will the market to soften, and it seems like you're going to be even more upset in 3 years if homes creep up another 20 percent.
You can't time it majority of the timing waiting it out costs you in the end. It's Been about 31 months since we bought and similar houses in the same condition are going for 560k now compared to 475k when we bought. These homes need full renovations. Finished ones goes for 100k moer and the really nice ones you can add 40-70k more.
You can't time it majority of the timing waiting it out costs you in the end. It's Been about 31 months since we bought and similar houses in the same condition are going for 560k now compared to 475k when we bought. These homes need full renovations. Finished ones goes for 100k moer and the really nice ones you can add 40-70k more.
Oh okay, derp derp, better go buy a cape at $565K #gtfo #nicetry.
No surprise everyone has overlooked my willingness to buy in Jersey or Westchester.
The prevalence of dual income households is a big driver of house prices. So in essence you can thank the Woman's movement for the increase in housing prices. Sure there are other factors but when your household income doubles, its inevitable that housing will rise.
Oh okay, derp derp, better go buy a cape at $565K #gtfo #nicetry.
No surprise everyone has overlooked my willingness to buy in Jersey or Westchester.
Not capes, these homes are 1800-2k sq ft splits w/ attached 2 car garages. You can't buy a cape or a ranch in my town, the builders snap up anything under 450k and tear it down. I saw a house on a 1/2 acre lot sell for 750k builder tore it down. This is in eastern Nassau where trains are 40-48 min to penn.
Oh okay, derp derp, better go buy a cape at $565K #gtfo #nicetry.
No surprise everyone has overlooked my willingness to buy in Jersey or Westchester.
Then go to the Jersey and Westchester forums and peddle your big ideas there. You’re getting good advice and responding with obnoxious snark at this point; obviously you’ve deemed yourself correct and are now trying to avoid the cognitive dissonance of contrary evidence. Yawn. Sorry you can’t afford it here, hon! I’m sure there’s a charming fixer upper by the runway at Teterboro that’s more in your price range.
Oh okay, derp derp, better go buy a cape at $565K #gtfo #nicetry.
No surprise everyone has overlooked my willingness to buy in Jersey or Westchester.
So, you are not ready to buy and may even buy in other areas, so I would respectfully suggest that you are voicing YOUR opinion and you are entitled to do so, but calling out others opinions is not cool.
Oh okay, derp derp, better go buy a cape at $565K #gtfo #nicetry.
No surprise everyone has overlooked my willingness to buy in Jersey or Westchester.
Lady, I sure hope you wind up in Jersey or Westchester...
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