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Than why are the middle class leaving NYC, and why is the middle class declining in NYC? If Middle class people are doing better because they don't need to drive, why is the middle class going down the tubes here? Gosh if I had an Ivy League degree, I would not think about such correlation. Texas is the new California, in the next 50 years it too will go bust like California. NYS and NYC also went through it was well.
My friend moved to Texas and guess what....he brought his ass right back to New York.
LOL. Anyone making 100k who complains about "not affording anything here" obviously needs money management skills. Really. Again, the median NYC income is in the 50ks. If they are earning on the upper end then they should be able to afford most things (within reason). There are people making far less. And I'm curious as to what they consider "nice"... because that is totally subjective. And what makes you sure that you can't get "nice" elsewhere? One person making $100k can not only get a nice (by many standards) house, but they can also have said house in an excellent, blue ribbon school district. If you have a family, those things are important. No shame in wanting to have excellent schools and a nice house without commuting a gazillion hours and paying more. Who knows what will happen in 40-50 years. I'll be gone and my children may move elsewhere. What can you do. What you fail to realize though is that the home values in the main Texas cities are rising at a rapid clip. Not something I'm particularly fond of, but NYC isn't the only city that has a strong market.
Actually, many times, when you factor in less taxes, the take home pay isn't as far off as you'd like to think. On paper I make less than my NYC counter, but my take home pay is the same. Go figure. There are many who do make east coast salaries and pay Texas prices - a win-win for them.
True dat. The reason employers have to pay New York wages is because taxes and high COL eat up a good part of paychecks. Move out of the Tri-State area and the equation changes.
Have always said the key to moving down South is to have or make NYC money but pay local rates. Older persons who are retiring down South have it made because their pensions are being paid in NYC money. That and when they sell their homes/assets here they are getting same. You can sell a not so great house on Staten Island and get about $300k. That money will get you far on the other side of the Mason Dixon.
Now young folks who must still work are faced with some issues. Again the trick is to land a job down South that pays what you were making here in NYC. Not always doable. There is a reason people in Atlanta or whatever work more than one job.
I know three families who moved to Texas in the last fews years - not as a destination, whatever that means, but for jobs. And good ones at that.
Different companies and institutions are upping their offers to attract the best talent away from New York. New York is already beginning to coast a bit on reputation, although I do not think so many people realize this. It will implode.
So true. There are a lot of job transfers, particularly in the tech industry. And I'm not talking about minimum wage jobs (as a lot of folks like to derisively mention), I'm talking about $80k and up jobs. Apple, Samsung, Google have a solid presence. If I thought long and hard, there's a ton of start ups out there that hire premier talent. Lots of east coast Big Law firms have large offices in Houston and Dallas.
LOL. Anyone making 100k who complains about "not affording anything here" obviously needs money management skills. Really. Again, the median NYC income is in the 50ks. If they are earning on the upper end then they should be able to afford most things (within reason). There are people making far less. And I'm curious as to what they consider "nice"... because that is totally subjective. And what makes you sure that you can't get "nice" elsewhere? One person making $100k can not only get a nice (by many standards) house, but they can also have said house in an excellent, blue ribbon school district. If you have a family, those things are important. No shame in wanting to have excellent schools and a nice house without commuting a gazillion hours and paying more. Who knows what will happen in 40-50 years. I'll be gone and my children may move elsewhere. What can you do. What you fail to realize though is that the home values in the main Texas cities are rising at a rapid clip. Not something I'm particularly fond of, but NYC isn't the only city that has a strong market.
Actually, many times, when you factor in less taxes, the take home pay isn't as far off as you'd like to think. On paper I make less than my NYC counter, but my take home pay is the same. Go figure. There are many who do make east coast salaries and pay Texas prices - a win-win for them.
Every able bodied young blood one knows is aiming for NYPD, FDNY and DSNY exams. That or PA or MTA, court officer and corrections.
Yes, pay isn't anything to write home about to start, but the bennies are there. Plus after a few years you start to make good money and of course there is the overtime. One good winter and DSNY are actually turning down OT because they are making too much. FDNY seems to be the holy grail. What amounts to a "part time" gig with FTE pay and benefits. Plus you have a good part of the week free to take on another gig.
Persons here bashing civil unions don't have a clue. Just spent the Thanksgiving holiday on the Rock. Drive around and you see lots of nice houses with one, two or more *nice* vehicles parked in the driveways. Who are they? Many are FDNY, DSNY and NYPD. No, many don't think "garbage men" are anything to worry about. But some of their paychecks put Wall Street and other professionals to shame. The wives like to tell that their husbands are anything but DSNY (environmental protection like Tony Soprano comes to mind), but that doesn't stop them from spending that money....
Go to Hazen Street, the street that takes you over to Rikers Island, and observe the amount of luxury cars going on and half the island. I scored a 71 on my Court Officer exam, but have a low list number. I wont guarantee on that for now. I have the PA, and MTABTO up my sleeve right now. These guys also eat good. One of my best friends works for the MTA, boy oh boy he put on the pounds man. These guys don't suffer at all.
LOL. Anyone making 100k who complains about "not affording anything here" obviously needs money management skills. Really. Again, the median NYC income is in the 50ks. If they are earning on the upper end then they should be able to afford most things (within reason). There are people making far less. And I'm curious as to what they consider "nice"... because that is totally subjective. And what makes you sure that you can't get "nice" elsewhere? One person making $100k can not only get a nice (by many standards) house, but they can also have said house in an excellent, blue ribbon school district. If you have a family, those things are important. No shame in wanting to have excellent schools and a nice house without commuting a gazillion hours and paying more. Who knows what will happen in 40-50 years. I'll be gone and my children may move elsewhere. What can you do. What you fail to realize though is that the home values in the main Texas cities are rising at a rapid clip. Not something I'm particularly fond of, but NYC isn't the only city that has a strong market.
Actually, many times, when you factor in less taxes, the take home pay isn't as far off as you'd like to think. On paper I make less than my NYC counter, but my take home pay is the same. Go figure. There are many who do make east coast salaries and pay Texas prices - a win-win for them.
It's a different standard and thought process. These people wanted to buy a single family home with decent schools. Around the greater NY area its probably $400k minimum for a house in subpar condition in an okay school district. These people also aren't native New Yorkers and needed to factor in potential childcare. One guy was doing all the calculations for a nanny or daycare and his wife wasn't making six figures. For him just the mortgage, property tax and the nanny accounted for almost the entire 100k. And that's just to live in a crappy house in an okay area in NJ or LI. Now I know at least one of them is rocking a BMW living in a nice place in Texas.
So true. There are a lot of job transfers, particularly in the tech industry. And I'm not talking about minimum wage jobs (as a lot of folks like to derisively mention), I'm talking about $80k and up jobs. Apple, Samsung, Google have a solid presence. If I thought long and hard, there's a ton of start ups out there that hire premier talent. Lots of east coast Big Law firms have large offices in Houston and Dallas.
With academic jobs it is also teaching loads, quality of students, research time ... All of these things add up to something substantial. It's not just about cheaper costs of living and more cash at hand.
New York is not stacking up so well these days but this is nascent. Hard to know what happens.
It is sad that a once wonderful place has turned into a kind of shell. People do not fully realize this yet.
You can see it in the quality of the positions. Certainly, I am most familiar with academia, but it would stand to reason that it's everything.
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Texas is the new California, in the next 50 years it too will go bust like California. NYS and NYC also went through it was well.
