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It is not all about supply and demand...It is about how people were stupid to think they should buy a house for 500k when they are making 50k.
You are absolutely correct about the above... Hence the reason we live an hour and a half away from our employment, although my husband does earn a 6figure income (not much above-that is with his bonus and for where we live-it is an average salary). We chose to not have to work for our home and live in a home that we could afford and still be able to do other things-like eat!
We know many people both in our state and at home in Rochester who shouldn't live in the homes they live in,but it is all about keeping up with the Jones's!
We could have very well purchased one of those $500K homes but think that we were smart (money wise) to not do so. The only thing it has hurt now is our quality of life and that is what I am saying Rochesterians need to be thankful for.
You can afford a really nice home and commute the 20min or 30min and enjoy yourselves!
My husband has no social life at all, can't do anything after work because he gets home much to late. We know people who get to join volleyball leagues,bowling,swimming or just going to the Y for a workout-it doesn't happen. He has to leave for work at 5am and is lucky to be home by 7pm on a good day.
Some may say "why do you live there?" the answer is easy... a job!
We have looked for 8 years in Rochester,hoping to get closer to family and sure, there is a job every once in a while that pops up,but for $25-$30K less! why would we take that when we have student loans to pay off from RIT ? I don't know many people who would take that kind of pay cut just for the heck of it, to be closer to family.
So yes,there are those people who shouldn't be living in those $500K homes and the banks should have never allowed it to happen, but we do not and will not.
We just think there is so much negative remarks about Rochester and it is true,if you don't like it, leave, god knows there are many more jobs out there to be had!
It is just easier for people to complain.............
.....nobody is locking you in chains and keeping you here. Realizing this is what helped us make the definitive decison to move BACK to Rochester from Raleigh NC, where we did not particularly like living. Clearly either you actually do like SOMETHING about Rochester, or you just haven't the brain capacity to realize that you don't HAVE to stay here. I'd be inclined to think (and hope) that it is the first.
It is not about a brain. You need income to move and some people in their current situation do not have the means to make a major move. Some are not being able to save enough money to move.
You're full of it. Are you a realtor? If you're serious, PM me and I'll give you the name and number of friends of mine who can't sell their Park Ave. home.
Coincidentally, I think they'd accept $150k if you offered. Seriously, put your money where your mouth is or quit the desperate boosterism.
Also, what planet are these "investors" on? Food, energy, debt... all soaring while wages are stagnant. Yeah, real estate always goes up.
Haha. Did you read any of my post besides the last sentence? No, I'm not a realtor. If you read all of my post in context, you would have realized that the statement "invest while you can" was facetious.
The post I was responding to was trying to make the point that the low price of housing in Rochester will be negated when prices drop across the country. Of course, this is nonsensical, because it makes the assumption that prices will drop everywhere EXCEPT Rochester. I was simply trying to show this with some simple economics. And yes--it was an oversimplification (as I said).
It is not about a brain. You need income to move and some people in their current situation do not have the means to make a major move. Some are not being able to save enough money to move.
Wow, Rochester got its own forum. 'bout time, we ARE the 3rd biggest city in NY.
Exactly. As soon as I can afford to I am so out of this hole. That's right, Rochester is a hole. A deep, dark, depressing hole. I read someone in this forum wouldn't take a $25k pay cut to move back because of their RIT loan debt. RIT is a scum sucking over-priced college with SUNY academics dressed up like some wanna be U of R. Don't go there. Been there, done that. Tell me what school doesn't honor labor day? Yep you guessed it RIT. What a slap in the face to its faculty and staff.
Housing prices?! Stagnant in the Rochester area. 100k nets you a good house here. There is a reason housing is so cheap. Why? Kodak is gone. The 3/4 empty Medley center. Crap jobs with crap pay mixed in with crap weather. Plus we are in the Buffalo Bills broadcasting area. Who wants a crap football team brought into their home on Sundays? Just drop 'em CBS. I went to a Sabres game the other day, they lost of course (4-3 Rangers), and while walking down Washington towards the Arena there were still people talking about how the Bills lost 4 Super Bowls in a row, 15 years after the fact.
A Rochester positive: The delightful weather forecast by Scott Hetsko, no matter how bleak the forecast.
No this is not Scott Hetsko.
P.S. Good-Bye Soupy! aka Brian Campbell. Have fun in San Jose, maybe I'll see you there someday. Hey that rhymes!
Wow, Rochester got its own forum. 'bout time, we ARE the 3rd biggest city in NY.
Exactly. As soon as I can afford to I am so out of this hole. That's right, Rochester is a hole. A deep, dark, depressing hole. I read someone in this forum wouldn't take a $25k pay cut to move back because of their RIT loan debt. RIT is a scum sucking over-priced college with SUNY academics dressed up like some wanna be U of R. Don't go there. Been there, done that. Tell me what school doesn't honor labor day? Yep you guessed it RIT. What a slap in the face to its faculty and staff.
Housing prices?! Stagnant in the Rochester area. 100k nets you a good house here. There is a reason housing is so cheap. Why? Kodak is gone. The 3/4 empty Medley center. Crap jobs with crap pay mixed in with crap weather. Plus we are in the Buffalo Bills broadcasting area. Who wants a crap football team brought into their home on Sundays? Just drop 'em CBS. I went to a Sabres game the other day, they lost of course (4-3 Rangers), and while walking down Washington towards the Arena there were still people talking about how the Bills lost 4 Super Bowls in a row, 15 years after the fact.
A Rochester positive: The delightful weather forecast by Scott Hetsko, no matter how bleak the forecast.
No this is not Scott Hetsko.
P.S. Good-Bye Soupy! aka Brian Campbell. Have fun in San Jose, maybe I'll see you there someday. Hey that rhymes!
I agree with you about RIT because I owe 70k to that school and they did a great job taking the money but did a poor job trying to help graduates get jobs. I do not think people on this forum can really understand how much college debt could put on a person. My Household owes about 110k in college loans and that is two people that did there undergrad and one person doing their masters degree. I am not done either; one more person is getting their masters. Owing 110k is more than most people’s homes in this area. At least mortgages have 30 years to pay off. But by the time I am done paying off college tuition for two people with masters degree it will be over 200k and one of us had their parents pay for their undergrad. This is the reason people do not stay in Rochester. People that have higher degrees typically pay 600 to 1100 a month in loans and that does not include any other expenses. So to live comfortable in Rochester my household income needs to be about 80- 90k a year. There are not many household in Rochester earning that type of income. (12% in Monroe County) The area does not have many $60k to 70k jobs for an individual. So again this is Rochester issue: They have good colleges but they cannot retain them into the area because college indebtedness is very high. I understand cost of college is expensive no matter what college you go to but the some cities can support the graduates. I do not understand why the area does not have a incentive for employers to hire graduates and somehow reimburse the student. The government could give tax breaks to employers. I think that is better than paying 40 million for a boat that sunk like the titanic. I mean we could have taken that 40 million to support education in the workplace which helps the area grow.
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