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Old 01-02-2022, 10:05 AM
 
5,023 posts, read 3,927,455 times
Reputation: 3621

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Quote:
Originally Posted by Forest_Hills_Daddy View Post
That's not what my original post was about. I was asking why, despite the many negative comments about LI, were there a lot of people buying.
Because a handful of negative comments means nothing in the context of Long Island home sales?
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Old 01-02-2022, 11:55 AM
 
2,771 posts, read 4,514,034 times
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Bottom line, Supply & Demand. You need a buyer & a seller. If there aren’t too many sellers (been reading that for years now) then the demand remains high like we’ve been seeing. Families upgrading to larger homes (with small mortgages) as interest rates are still low. Retirees downgrading & buying homes cash.

Nobody is leaving L.I. Sure, some leave the state. As posted numerous times, I never saw so much traffic, condo developments & apartment complex that are $2500++++ for a one bed room. Well over $3,000 for a two bed room. These are not landscapers renting or buying either.
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Old 01-02-2022, 12:34 PM
 
1,243 posts, read 547,288 times
Reputation: 1153
Quote:
Originally Posted by mathjak107 View Post
In order to have a sale you need a buyer ..

So at the end of the day MEH.

The real question is who are the buyers ? Are they retiring here , are they working and spending here or is it a part time residence .

Did the sellers just down size being so many retired and just bought other homes here ?
Or upsize, in the case of people who fled city dwelling and bought homes with space for a home office
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Old 01-02-2022, 07:46 PM
 
2,589 posts, read 1,815,442 times
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Quote:
Originally Posted by Forest_Hills_Daddy View Post
Yeah but why are many people buying if things are supposedly bad?
Because they don't want to live in a hi rise elevator condo anymore after covid.
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Old 01-03-2022, 12:10 PM
 
7,296 posts, read 11,833,709 times
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Quote:
Originally Posted by monstermagnet View Post
Because they don't want to live in a hi rise elevator condo anymore after covid.
Yes, although this should also be true for the other suburbs listed in the chart. Why were Long Island sales stronger than all other NYC metro suburbs? What could it offer that other suburbs cannot?
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Old 01-03-2022, 01:02 PM
 
909 posts, read 1,832,539 times
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People are cashing in on their POS attached housing, putting cash in their pocket and buying cheaper houses that have some property around it. Long Island is more affordable than Westchester and crossing a bridge to get to Queens is a deterrent to many.
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Old 01-03-2022, 04:12 PM
 
686 posts, read 579,622 times
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Quote:
Originally Posted by Forest_Hills_Daddy View Post
Yes, although this should also be true for the other suburbs listed in the chart. Why were Long Island sales stronger than all other NYC metro suburbs? What could it offer that other suburbs cannot?
Pizza, bagels, and beaches.
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Old 01-03-2022, 09:44 PM
 
2,589 posts, read 1,815,442 times
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Quote:
Originally Posted by Forest_Hills_Daddy View Post
Yes, although this should also be true for the other suburbs listed in the chart. Why were Long Island sales stronger than all other NYC metro suburbs? What could it offer that other suburbs cannot?
More people jumping at the chance to sell high and flee.
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Old 01-04-2022, 08:41 AM
 
Location: Nassau County
5,301 posts, read 4,738,942 times
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Quote:
Originally Posted by monstermagnet View Post
More people jumping at the chance to sell high and flee.
Yeah but flee where? All the desirable places are crazy inflated too, even down south. Yeah you may be "selling high" but you will be "buying high" too. Property taxes being the exception in most places.
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Old 01-04-2022, 11:21 AM
 
7,296 posts, read 11,833,709 times
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Quote:
Originally Posted by peconic117 View Post
Yeah but flee where? All the desirable places are crazy inflated too, even down south. Yeah you may be "selling high" but you will be "buying high" too. Property taxes being the exception in most places.
Some sellers could be "fleeing" further east, as in selling in Nassau and buying in Suffolk for more space and less density. But they are still grounded in NYC metro. Others could be retiring or semi-retiring and moving to lower priced regions (e.g., upstate, midwest). Hopefully their savings last.
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