Who thinks the RE market is outrageous and that you get so little for what you pay!
kpny622
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Re: How many of us would leave LI if we could?
If all my family weren't on LI, I'd get out in a heartbeat for that very reason.
sept20yay
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Re: How many of us would leave LI if we could?
No!!!! This question is so funny. I was just debating this with my friend. Yes, you can get lower prices elsewhere but when you own in NY, you own in NY. NY will always be valuable, always be the financial, cultural, wonderful hub of this country. South Carolina will not. Land is plentiful there and not as in demand. While you might get more for your money there in the short term, for a long investment you cant go wrong with buying 30 minutes from the 'pulse of the world'. LI, Westchester, NJ, will always be in demand. Especially in coming years as the places to build in these areas is minimizing. It is supply and demand, my friend! You're living 30 minutes from a city people in Kansas dream about!!! I am not in love with NYC or anything:)
kpny622
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Re: How many of us would leave LI if we could?
Yes that's true, but I just find it hard to believe that at this point in the market, houses can appreciate THAT much more. If I buy a 3 bedroom run down ugly shack on zero property that needs a ton of work right now for $500,000 (which is what they seem to cost), then how can I expect that price to go up in 20 years? Will people REALLY pay a million dollars for that house in the future? It's just hard to believe and so depressing since we certainly don't have a ton of money to buy such an expensive house!
KarenB
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Re: How many of us would leave LI if we could?
I find this depressing too. We can't decide if we should stay in a one bedroom we own and live easily or move into a house and have to watch what we spend. Especially since the houses are big bucks and no great shakes as KPny has said.
Then we can't decide if we should buy a newer townhouse or a house that needs work, all in the same price range.
The whole thing is just sickening. For our budget we should be able to buy a nice house in great condition.
sept20yay
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Re: How many of us would leave LI if we could?
No, but people will pay for the land. The land is more valuable than the house. That land will be worth a lot because there is no place else to build. also, is the house in a good school district, near a beach, in a low crime area??? worth a lot of money.
kpny622
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Re: How many of us would leave LI if we could?
yeah, it's like, if me and DH both are gainfully employed and have little debt, and yet still can't afford to own a home, then how is the rest of the world doing it? how do people who get paid less or have only one income or have kids also, afford to live on anything other than ramen noodles???
lesleyw
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Re: How many of us would leave LI if we could?
Posted by sept20yay
D You're living 30 minutes from a city people in Kansas dream about!!! I am not in love with NYC or anything:)
Just have to respond, since I did grow up in Kansas, living on Long Island is not the same thing as living in NYC, as a matter of fact is it quite a bit more like the suburban America of the rest of the county and I'm not convinced that the high prices are really justified. You are not living in the city -- you are living in the suburbs.... often suburbs that over an hour outside of the city -- with all the traffic, I find that it's a rare weekend when we get to enjoy what the city has to offer.
But my husband is from here and loves it here (and since I love him) we are looking to buy here. But I would definately move if it were up to me -- I hate the thought of having to spend so much of our salaries on mortgages and taxes. It makes me sick to think of all the things we will have to give up just so we can pay a mortgage on a crappy, little house... JMO
sept20yay
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Re: How many of us would leave LI if we could?
I understand where you are coming from. I think the RE market is high, but to me, LI is not like the rest of the world. It is still close to the city and that will always make it valuable. Many people commute to the city. If you don't have those needs, I could totally see moving elsewhere. But LI also boasts great schools and beautiful beaches. The good news is you will always hold the value and more if you buiy a house/townhouse. You are not wasting money. You are investing in the land. If it is not important to you to have a high return later, definitely other areas of the country are better. Remember, the prices are hight because buyers are spending those prices!
Niecey
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Re: How many of us would leave LI if we could?
Posted by sept20yay
I understand where you are coming from. I think the RE market is high, but to me, LI is not like the rest of the world. It is still close to the city and that will always make it valuable. Many people commute to the city. If you don't have those needs, I could totally see moving elsewhere. But LI also boasts great schools and beautiful beaches. The good news is you will always hold the value and more if you buiy a house/townhouse. You are not wasting money. You are investing in the land. If it is not important to you to have a high return later, definitely other areas of the country are better. Remember, the prices are hight because buyers are spending those prices!
I agree. I am happy with LI. But I am someone would wouldn't live outside of NY and need to be close to NYC - so paying premuim to be a NY'er and close to the city was 100% worth it for me.
Chloegirl
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Re: How many of us would leave LI if we could?
I would and never look back!
My husbands business is out here...him and his father may open an outer office though...I am trying to convince them of the west coast !
Kriss2c
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Re: How many of us would leave LI if we could?
If FH and my current situation did not dictate living in the tri-state area, I would move in a heartbeat.
Salaries really need to be increased to keep up with the cost of living over here. Where I am at now, if it weren't for the Star Program, I would be paying 10,000 in property taxes alone.
CaCRmr
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Re: How many of us would leave LI if we could?
I fully intend to leave LI after I get married (2 yrs after) NOT because we can't afford LI but just because I've had enough of it.
kathy2176
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Re: How many of us would leave LI if we could?
If I buy a 3 bedroom run down ugly shack on zero property that needs a ton of work right now for $500,000 (which is what they seem to cost), then how can I expect that price to go up in 20 years? Will people REALLY pay a million dollars for that house in the future?
Absolutely! Think about the people who bought that house in the '50s for what...maybe $20,000 (or less!). Do you think they thought that one day somebody would pay $500,000 for it? That is how it goes. I completely agree cost of living compared to salaries are nowhere near each other and it isn't going to get any better. It is a choice we all have to make. I am staying here because our families are here and we want to be with them.
Kriss2c
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Re: How many of us would leave LI if we could?
Yes as far as appreciation goes, NY-metro area property gets up there.
My parents bought their house (a 4 bedroom, 1 bath cape with full basement and a garage in the Plainedge School District) in 1975 for 49,000. We have not had it appraised recently; but the house across the street from me that has less property than we do sold last February for 414,000.
tracyg
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Re: How many of us would leave LI if we could?
we're looking to leave right now. I can't wait to leave!!!! I almost moved before i met DH, and he was the only thing that kept me here. There is no way we'd ever buy a house here. And not just for $$ reasons... its way too crowded and other stuff... (have to get away from his family! LOL)
tracyg
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Re: How many of us would leave LI if we could?
Posted by CaCRmr
I fully intend to leave LI after I get married (2 yrs after) NOT because we can't afford LI but just because I've had enough of it.
and thats another reason... LOL and i just don't want to live in one state my entire life. I'm tired of NY!
nov04LIbride
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Re: How many of us would leave LI if we could?
I went to college upstate (in Ithaca) and loved it--I would move there in a second. The area is beautiful. I grew up in NJ, and would move back there in a second. I refuse to move to Florida, though, which is where FH wants to move...Being near family is nice though--I know I can rely on them if we ever need anything. My MOH moved to Michigan for a great job, but didn't even know anyone to call when her car broke down!
matron
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Re: How many of us would leave LI if we could?
I would leave in a heartbeat if my hubbie would agree to it. All 3 of my sisters feel the same way.
MrsTC
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Re: How many of us would leave LI if we could?
I left and I am happy I did. NO WAY IN HELL I was paying an arm and leg for a limited amount of space. Plus the traffic is insane.
