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How do you people do this over and over for a decade, going on 2? If LI isn’t worth it than the people would respond accordingly and real estate would tank.
Kind of like the Queen of England on the cover of the tabloid newspapers at the supermarket checkout lines. It's been her "Sad Last Days" for the last 30 years....
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Originally Posted by mysticpearl
So those types wouldn't be happy unless they live in North Dakota without a neighbor insight.
Kansas for dog owners mystic! Kansas is so flat you can watch your dog run away for two weeks...
... I feel like I am living in bizarro world. In what place besides LI, NYC and maybe San Francisco is $4,000 NOT objectively "a lot" for a mortgage?
I didn’t say it was or wasn’t a lot. You mentioned you make a great living but also said how does one afford a $4k mortgage. Perhaps the meaning of a “great income” is subjective.
“A small percentage of this country's total population - is doing it. Don't say it like it's everyone. And doing it at the cost of their current comfort, potential activities, their savings, and what they can pass on. How many times do we hear about "house poor"? When you are obligated to pay $100k in taxes in < 7 years - real net pay you will NEVER get back, that is kind of ridiculous. And "decades" of history will also show the tax figures will NEVER go downward, only upward.”
No amount of people "doing it" will make that a positive. Consider this - people from the past who've "done it" may very well wonder how new families now could possibly do it - with the juggle and all. Bottom line, the value is not there (here) or else I'd balance it out with a laundry list of pluses too”
We all have choices. I’m not saying it’s easy, but we all have choices. As far as “house rich”, well you can always downsize & take a bit of equity to enjoy yourself. I never understood why people sit on 500k +/- homes that are paid off, but struggle to live living off of SS.
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We all have choices. I’m not saying it’s easy, but we all have choices. As far as “house rich”, well you can always downsize & take a bit of equity to enjoy yourself. I never understood why people sit on 500k +/- homes that are paid off, but struggle to live living off of SS.
While their investment falls down around them! It is sad.
I didn’t say it was or wasn’t a lot. You mentioned you make a great living but also said how does one afford a $4k mortgage. Perhaps the meaning of a “great income” is subjective.
$4k is not a lot for a mortgage around here
I want to know what she considers a great living. A couple making $250k combined for example is still only middle class
A small percentage of this country's total population - is doing it. Don't say it like it's everyone. And doing it at the cost of their current comfort, potential activities, their savings, and what they can pass on. How many times do we hear about "house poor"? When you are obligated to pay $100k in taxes in < 7 years - real net pay you will NEVER get back, that is kind of ridiculous. And "decades" of history will also show the tax figures will NEVER go downward, only upward.
No amount of people "doing it" will make that a positive. Consider this - people from the past who've "done it" may very well wonder how new families now could possibly do it - with the juggle and all. Bottom line, the value is not there (here) or else I'd balance it out with a laundry list of pluses too.
Check the demographics moving here... they're not exactly privy to how it all has been working... they just want good schooling first and foremost and pay out the nose for the reputation. Meanwhile, anyone honest about their kids/school/teachers knows it's overrated in many ways. Plenty of my kids' classmates get 70s. Plenty of them are super disruptive. Plenty of the teachers assist in *ahem* manufacturing higher grades... and well, let's just say they aren't miracle workers (yet demand to be paid like they are regardless of their output).
MAYBE if parents cared more for their kids' behavior/education/outlook while not having to work so much to sustain their livelihood to pay these ridiculous taxes to support overpaid teachers, EVERYONE* involved would be better off for it.
That's part 1. 2nd part of the answer - NY and its nearby suburbs will always have demand because of family roots. Ask anyone [not foreign] and they'll say they have family here. Doesn't say a damned thing about the locale's natural desirability or value anymore.
Ovi, you raise some good points, rate up.
I think you are right, the majority of us are here because our families are here. Probably you can say the same thing about many part of the country.
But Long Island had desirable features which places it above most suburban areas of the country. Notably its long coastline with ocean beaches, plenty of fishing and boating.
Then it is the Island's location next to New York City. But that location is a blessing and also a curse. New York is one of the great cities of the world and Long Island has easy access to it. But New York City is also overcrowded and expensive. Many of its residents are looking for greener pastures which drives up housing prices and competition on the Island.
And that's it in a nutshell. New York City is one of the key gateways to the USA in a world with almost 8 billion people. I just don't see the QOL of people on Long Island getting any better in the future, sadly only worse.
$4k is not a lot. I would wager most people pay around that.
I guess my point was, houses range so much. From a few hundred thousand to a few million. But I agree, the “average” 500k +/- home mortgage, property taxes, homeowners is probably 4K +/- Yes, there are many variables, calculation, ect to consider.
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