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First, I'm living in an apt right now, because it's more expensive to buy than rent.
Two, the Pal Park was an *example* of how ridiculous house prices have gotten recently.
Three, I can technically afford a house at that price, but I don't want to, because I just want to live a reasonable lifestyle and not overspend. Who *really* needs to live in a $600k house? Not me. I'll take the cheapest, nice house I can find in a decent area, with good schools and an okay commute to NYC.
Anything else you want to flame me for?
Obviously the Pal Park thing is an issue to you since you needed to make it an example. Are you bitter because there aren't any cheap nice homes in decent areas with good schools in Bergen County. I would personally like to live in a cheap home in Colts Neck, and have my workplace move 40 miles closer to me, but thats not going to happen. Lastly don't confuse my thoughts with flamming you. Don't be so sensitive. You have your opinions and I have mine.
There has been a new law enforced in a lot of towns of New Jersey..More than half..
It's a builders fee..
For affordable housing, which I 100% do not agree with.
Right off of the bat, If someone wants to build a house, given that the township enforces it, they are obligated to pay 1% for a single residential dwelling and up to 2% for a multi family.
It can go as high as $20k for for a commercial dwelling.
These are builders.. the fees go into a fund account to help build affordable housing throughout the state of NJ.
People cry about NJ not having affordable housing, well they actually ARE doing something about it.
Bad for me because I have a lot of builders as clients, but whatever keeps our residents happy, right?
People just cannot be happy.
Ryan P. Kull
Do you know where I can get info on the builders fee. I will keep my politics and beliefs to myself on this one. However I find it very interesting that my money will be used to create affordable housing through an assesed fee. Do you know what towns this pertains to.
Obviously the Pal Park thing is an issue to you since you needed to make it an example. Are you bitter because there aren't any cheap nice homes in decent areas with good schools in Bergen County.
I'm not bitter at all.
I'm sorry you don't understand the simple concept of the real estate bubble and how irrational the market has been. If you like overpaying for your houses, more power to you.
My "beef" is not that we struggle financially, because we don't. We live well and have no credit card debt. We struggle because both of us have to work to afford NJ and our taxes keep going up. My struggle is leaving my baby every day to work and knowing that I will never have the opportunity to stay at home with him (or even work PT) while we live in NJ, because it is just so expensive and I am being hammered with taxes. My "beef" is that I see so many young couples unable to buy a house here or have to relocate because the cost of living is so outrageous.
I have finally realized that the rat race that one must compete in to actually afford living here modestly is just not worth it to live in this state, that is likely the most corrupt state in the country by the way.
I also have serious issues with the way NJ municipalities are run. It is inefficient and wasteful. Every single little town has to have their own fire department, library, etc. when consolidation makes so much more sense.
NJMom, THANK YOU!
You've just stated my exact feelings on this subject in a much more eloquent and articulate way than I ever could. From now on, instead of debating, I'll just point them to your post!
I'm sorry you don't understand the simple concept of the real estate bubble and how irrational the market has been. If you like overpaying for your houses, more power to you.
Don't assume what I understand and don't understand. Also don't confuse your concepts with my opinions. Small corrections in the market don't mean much to me. If the market corrected down 10 or fifteen percent it wouldn't be the end of the world. I purchased my first home in 1980 and I'm doing just fine! AT this point it's just paper money.
Do you know where I can get info on the builders fee. I will keep my politics and beliefs to myself on this one. However I find it very interesting that my money will be used to create affordable housing through an assesed fee. Do you know what towns this pertains to.
I had called the Council on Affordable Housing(COAH).
This is not a tax for taxpayers, just builders and people getting homes built. This does not come out of the residents pockets. I hope no one thinks that.
But yes, she had sent me a full list of towns in New Jersey that proposed the law. There is a lot of towns. More in Northern NJ than Southern NJ. I may lose quite a bit of clients over this proposal.
I do not believe in this law whatsoever. I could see if the tax were to fund builders to help them with materials and such to lower the costs and furthermore lower the new construction prices. But I firmly do not believe in building apartments and townhomes strictly for people who live off of the government and collect checks. People work hard for a living and deserve a home that suits them. For someone that likes to sit home all day and not face reality, they do not deserve to get checks from the government nor be assisted with "affordable" housing, especially if they build the dwellings dead smack in the middle of 500-600k homes, decreasing the values even more.
If anyone would like a copy of the municipalities, PM me with your email.
NCMom,
Well, we're not really arguing..just a friendly debate on certain issues. I apologize for thinking you were being a little wierd with me.
There is a lot of fabulous schools in southern nj. When you get closer to the jersey shore, it tends to get a little more expensive.
I can show you over 150 houses right now on the market for 350k or less that is very well suitable for a family with 3 kids. 4 bedrooms 2.5 baths minimum. I will be honest, a few school systems in the south jersey area aren't the greatest, but you get that everywhere you go. Usually in those places, the taxes are "very low". Perfect example of letting taxes work for you.
Most places in Southern NJ, the school systems are great and the taxes are a lot more "fair" than anywhere in Northern NJ.
I do not know if your looking for some type of McMansion for 450k, but homes are well priced down here.
PS. Again, Sorry for the little attitude.
Ryan P. Kull
It's easy to take eachother the wrong way in print! I'm not looking for a home anymore, I moved to N.Carolina. But we searched for quite a long time.
I wasn't looking for a McMansion at all. That was never my style. But, we were trying to live with either a decent commute to Philly or NY. It didn't work out for us.
We love it here so far. Good luck with your work up in NJ!!
Looking at the numbers, I find it hard to comprehend why you cannot live on $150K a year:
Nanny, $2K/month: $24,000
'Heat', $1K/six months: $6,000
Mortgate, assuming $5K/month: $60,000
Those major expenses total $90,000, which leaves you $60,000 per year for 'other stuff'. That is more than I make in a year and I also pay a mortgage, am a single mom, etc.
If you have other issues like high credit card debt, well, you can't blame that on the state of New Jersey!
What do you reckon the state and federal government is stealing from that 150K or is that not part of the equation?
I make a "buck and a half" ( + ) a year, am originally from NJ and don't know how y'all can live up there on that. Not live and save for retirement anyway. Those kind of numbers fare well where I am now, ( SW Fla ) but not so good in NJ.
The fact is the government has grown too immense, the tax rates are nearly that of communist China ( well a few percentage points less) and the cost of living in places like NJ is HIGH.
Although I will say that with an absolutely incredible debt ( over 8 Trillion and climbing (, the boomers begin retiring in earnest in what, 2008 ( ss checks etc ) and state governments debt and governments obvious out of control spending and corruption it appears impossible from an economic standpoint to see any reversal in these trends.
What do you reckon the state and federal government is stealing from that 150K or is that not part of the equation?
I make a "buck and a half" ( + ) a year, am originally from NJ and don't know how y'all can live up there on that. Not live and save for retirement anyway. Those kind of numbers fare well where I am now, ( SW Fla ) but not so good in NJ.
The fact is the government has grown too immense, the tax rates are nearly that of communist China ( well a few percentage points less) and the cost of living in places like NJ is HIGH.
Although I will say that with an absolutely incredible debt ( over 8 Trillion and climbing (, the boomers begin retiring in earnest in what, 2008 ( ss checks etc ) and state governments debt and governments obvious out of control spending and corruption it appears impossible from an economic standpoint to see any reversal in these trends.
Sorry, let me get back on the treadmill now
Hey Mr.T I think you better check your blood pressure and the lactic acid buildup when your on that treadmill My wife and I don't earn near 150K and were doing just fine here in NJ as are most our friends. We call it living within our means. Granted If we wanted to live in a million and half dollar home in Colt's Neck things wouldn't be so good for us either. I just don't understand how 150K is not enough (unless you have 3 kids going to Harvard at the same time).
A house is only worth what people are willing to pay for it. Houses are selling, so they can't be too overpriced (although for the most part, they are out of the range DH and I feel is comfortably affordable for us). There are so many people in NJ who make high salaries, that houses will sell for more here than other places. Yes, this stinks for those of us that aren't making 6 figures. The way I see it, I wouldn't expect to be able to afford a home in the best parts of Manhattan and now that level of pricing has extended well into NJ. I don't see any use in complaining over it; there's nothing unfair about it. If people are willing and able to pay more than I am for a home, then of course the builder/seller should charge as much as they can and sell to the folks with more buying power. I would do the same if I were in their shoes. Yes, the taxes are high, but here in NJ we have the best and most of everything, don't we? Great schools, smooth roads, police and emergency services everywhere, wonderful state funded programs to help seniors and the disabled receive healthcare...these things cost money. Places with lower taxes do not have all of the services we do. You get what you paid for; as a whole, NJ voters and politicians have decided to have all these services. If you live here, you benefit from them.
In light of all this, DH and I will not be buying here; we have spent the last year or so deciding on where we will relocate to. We are tentatively planning on moving next summer. I'm not bitter or angry about it. We're doing what we have to do now so we can live what we consider to be a financially comfortable lifestyle.
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My wife and I don't earn near 150K and were doing just fine here in NJ as are most our friends. We call it living within our means. Granted If we wanted to live in a million and half dollar home in Colt's Neck things wouldn't be so good for us either. I just don't understand how 150K is not enough (unless you have 3 kids going to Harvard at the same time).
