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Long Island: 125k income [7700/mo after tax for 2 dependents, married]
Tiny ugly house in middle of nowhere: 300k, 1500/mo mortg
taxes: 8k after star, home insurance 1k. 750/mo
utilitiy bills: 300/mo
food for family: 800/mo
LIRR +MTA + Car Parking + Car Gas to LIRR: 121+350+700/12+80 = 610
Net Exp: 3960
Left Over: 3740 out of 10400 pre tax., about 36% you keep of what you make per month
(7700-3960)
Florida: 105k income [7216/mo no state tax, married]
Nice House in middle of nowhere: 180k, 900/mo mortg
taxes: 2k, home insurance 1k. 250/mo
utilitiy bills: 300/mo
food for family: 800/mo
Car Gas to work + insurance: 500
Net Exp: 2750
Left Over: 4466 out of 8750 pre tax., about 51% you keep of what you make per month
(7216-2750)
Give me one reason to stay in this **** island and **** city.
Living in Florida, no matter how cheap, doesn't matter if you are unemployed. If you live in the middle of nowhere, jobs are scarce, unless you can work remotely.
Living in Florida, no matter how cheap, doesn't matter if you are unemployed. If you live in the middle of nowhere, jobs are scarce, unless you can work remotely.
I'm a programmer. I can literally work anywhere in the world.
I left Long Island 6 months ago and never looked back.
Occasionally, I check the news out there just to see what's up and every time I just shake my head. Congestion pricing (no cheap way off the island), LIRR increases, Applebees shootouts, heroin insanity. Could it get any worse? (It looks like Suffolk is dealing with the brunt of the decline.)
I can't believe I almost purposely bought a crappy $450k home and condemned myself to a life of long commutes, $15k+ taxes, $350 monthly LIRR passes, $19 tolls and ripoff PSEG. Yuck
Last edited by MemoryMaker; 04-11-2019 at 11:17 AM..
I left Long Island 6 months ago and never looked back.
Occasionally, I check the news out there just to see what's up and every time I just shake my head. Congestion pricing (no cheap way off the island), LIRR increases, Applebees shootouts, heroin insanity. Could it get any worse? (It looks like Suffolk is dealing with the brunt of the decline.)
I can't believe I almost purposely bought a crappy $450k home and condemned myself to a life of long commutes, $15k+ taxes, $350 monthly LIRR passes, $19 tolls and ripoff PSEG. Yuck
ever heard of ghost homes in hong kong? Multi million dollar homes with ghost towns just for the sake of appreciation bubble. Same thing with New york.
The rental income in most places in new york is too low for the house purchase and is thus in a bubble. Will it pop? Probably not, which means it is only safe to leave.
Your link states that Nassau homes on average are currently valued at $517k and Suffolk is at $373k. HOWEVER, in August 2007, the median home price in Nassau was $503k and for Suffolk it was $410k as per this other Newsday link that shows historical price histories: https://www.newsday.com/long-island/...ity-1.13611744
This means that for Suffolk, homes have LOST a lot of equity and value instead of having ANY appreciation for 12+ whole years. In other words, Suffolk is still severely underwater!
For Nassau, home value increased BARELY (so its in somewhat better shape than Suffolk) but it has done HORRIBLY at keeping up with the rate of inflation so homeowners are still technically losing bad.
Last edited by MemoryMaker; 04-11-2019 at 12:26 PM..
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