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MegZee
My bunny
Member since 5/06 8777 total posts
Name:
Meaghan
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Re: Somethings gotta give, right?
I think its unfair to generalize...
I am definitely NOT looking for a brand new home at age 24. I work very hard and have sacrificed going on trips with friends, etc to save $$ for my house.
But when people who make more than the average income can't even afford a starter home, something is wrong.
schnapy posted a house in North Masaspequa for $399 that needed to be GUTTED - for $325 Id be all over that, but almost a half a million dollars for a house that needs $100k of work??
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Posted 7/7/06 9:31 AM  |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: Somethings gotta give, right?
Posted by dandg
Posted by Beth1210
what we are saying is a house is first a place to live- then an investment
not that it's not an investment-
it's when people look at houses for soley investment purposes then things get screwed up
I think some of us like to hear ourselves talk!
FYI- putting the icon doesn't make it ok to insult me-
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| Posted 7/7/06 9:32 AM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: Somethings gotta give, right?
Posted by Meaghan729
I think its unfair to generalize...
I am definitely NOT looking for a brand new home at age 24. I work very hard and have sacrificed going on trips with friends, etc to save $$ for my house.
But when people who make more than the average income can't even afford a starter home, something is wrong.
schnapy posted a house in North Masaspequa for $399 that needed to be GUTTED - for $325 Id be all over that, but almost a half a million dollars for a house that needs $100k of work??
so sad but true- but if you lived in most other states- $399K would get you a brand new house- all new applicances, all new furinture and 2 new cars in your driveway
not some 40 year old dump that needs to be gutted
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| Posted 7/7/06 9:35 AM |
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verdila
LIF Infant
Member since 7/05 308 total posts
Name:
me
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Re: Somethings gotta give, right?
I understand, and I am not trying to be unfair, I am just saying that we as a generation expect more than our ancestors did and if you think about it, we are luckier than they were.
By the way, I grew up in Massapequa and that is a shame that that house is going for 399k - hopefully it will come down!! But I have to say at 24, I was barely out of my parents house and renting an apt, so more power to you if you can afford to buy!
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| Posted 7/7/06 9:37 AM |
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dandg
LIF Zygote
Member since 1/06 46 total posts
Name:
Gerard
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Re: Somethings gotta give, right?
Posted by Beth1210
Posted by dandg
Posted by Beth1210
what we are saying is a house is first a place to live- then an investment
not that it's not an investment-
it's when people look at houses for soley investment purposes then things get screwed up
I think some of us like to hear ourselves talk!
FYI- putting the icon doesn't make it ok to insult me-
Wasnt trying to make it ok, i was laughing at you!
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| Posted 7/7/06 10:14 AM |
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MegZee
My bunny
Member since 5/06 8777 total posts
Name:
Meaghan
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Re: Somethings gotta give, right?
Posted by dandg
Posted by Beth1210
Posted by dandg
Posted by Beth1210
what we are saying is a house is first a place to live- then an investment
not that it's not an investment-
it's when people look at houses for soley investment purposes then things get screwed up
I think some of us like to hear ourselves talk!
FYI- putting the icon doesn't make it ok to insult me-
Wasnt trying to make it ok, i was laughing at you!
we were having a nice debate on the housing market - why do you feel the need to laugh at someones opinion? Very immature, imo!
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| Posted 7/7/06 10:17 AM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: Somethings gotta give, right?
Posted by dandg
Posted by Beth1210
Posted by dandg
Posted by Beth1210
what we are saying is a house is first a place to live- then an investment
not that it's not an investment-
it's when people look at houses for soley investment purposes then things get screwed up
I think some of us like to hear ourselves talk!
FYI- putting the icon doesn't make it ok to insult me-
Wasnt trying to make it ok, i was laughing at you!
grow up- you are so immature- who are you to laught at me????
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| Posted 7/7/06 10:18 AM |
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Palebride
I am an amazing bakist
Member since 5/05 13673 total posts
Name:
Lori
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Re: Somethings gotta give, right?
Posted by dandg
Wasnt trying to make it ok, i was laughing at you!
That's not really necessary, is it? 
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| Posted 7/7/06 10:18 AM |
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schnapy
LIF Adolescent
Member since 9/05 766 total posts
Name:
Diana
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Re: Somethings gotta give, right?
Posted by Beth1210
Posted by Meaghan729
I think its unfair to generalize...
I am definitely NOT looking for a brand new home at age 24. I work very hard and have sacrificed going on trips with friends, etc to save $$ for my house.
But when people who make more than the average income can't even afford a starter home, something is wrong.
schnapy posted a house in North Masaspequa for $399 that needed to be GUTTED - for $325 Id be all over that, but almost a half a million dollars for a house that needs $100k of work??
so sad but true- but if you lived in most other states- $399K would get you a brand new house- all new applicances, all new furinture and 2 new cars in your driveway
not some 40 year old dump that needs to be gutted
But we are talking about NY. Not some other state... Things have always been relatively less expensive else where. even when houses here were only 170k things were cheaper in other states
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| Posted 7/7/06 10:20 AM |
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schnapy
LIF Adolescent
Member since 9/05 766 total posts
Name:
Diana
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Re: Somethings gotta give, right?
Posted by Meaghan729
I think its unfair to generalize...
I am definitely NOT looking for a brand new home at age 24. I work very hard and have sacrificed going on trips with friends, etc to save $$ for my house.
But when people who make more than the average income can't even afford a starter home, something is wrong.
schnapy posted a house in North Masaspequa for $399 that needed to be GUTTED - for $325 Id be all over that, but almost a half a million dollars for a house that needs $100k of work??
399 is asking... You can submitt any offer. Dont ever shy away from making offers because you think the price is too high. You never know
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| Posted 7/7/06 10:21 AM |
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Palebride
I am an amazing bakist
Member since 5/05 13673 total posts
Name:
Lori
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Re: Somethings gotta give, right?
Posted by schnapy
But we are talking about NY. Not some other state... Things have always been relatively less expensive else where. even when houses here were only 170k things were cheaper in other states
Maybe I'm a crazy optimist.....but I kind of like that houses are more expensive on LI....it makes it that much more of an accomplishment when you work hard, save, and then can actually own a home here.
Sure, it can get ridiculous - but we do have great schools, so I think the high taxes have a reason for being so high!
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| Posted 7/7/06 10:23 AM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: Somethings gotta give, right?
[
But we are talking about NY. Not some other state... Things have always been relatively less expensive else where. even when houses here were only 170k things were cheaper in other states
I think you missed my point- some one that that we expect too much- and I am just saying we don't- b/c if we lived every where else buying a brand new house wouldn't be such a big deal
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| Posted 7/7/06 10:24 AM |
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schnapy
LIF Adolescent
Member since 9/05 766 total posts
Name:
Diana
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Re: Somethings gotta give, right?
Posted by Palebride
Posted by schnapy
But we are talking about NY. Not some other state... Things have always been relatively less expensive else where. even when houses here were only 170k things were cheaper in other states
Maybe I'm a crazy optimist.....but I kind of like that houses are more expensive on LI....it makes it that much more of an accomplishment when you work hard, save, and then can actually own a home here.
Sure, it can get ridiculous - but we do have great schools, so I think the high taxes have a reason for being so high!
I agree. Its a sad reality, housing is expensive and you dont get alot for your buck. But I dont want to live any where else other than NY. I like the prxomity to the city, and my family is here.
I would love a coop in florida, but as a second home
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| Posted 7/7/06 10:26 AM |
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schnapy
LIF Adolescent
Member since 9/05 766 total posts
Name:
Diana
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Re: Somethings gotta give, right?
Posted by Beth1210
[
But we are talking about NY. Not some other state... Things have always been relatively less expensive else where. even when houses here were only 170k things were cheaper in other states
I think you missed my point- some one that that we expect too much- and I am just saying we don't- b/c if we lived every where else buying a brand new house wouldn't be such a big deal
No I understand but if we lived somewhere else, we would still be complaining because salaries are less out of state also.
In the end we all die complaining about our 30 yr mortgages and taxes
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| Posted 7/7/06 10:27 AM |
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MegZee
My bunny
Member since 5/06 8777 total posts
Name:
Meaghan
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Re: Somethings gotta give, right?
honestly, If i had been able to buy before the boom I would be in that boat.
but it irks me that people who bought 5 years ago wouldnt be able to afford their own home today. and I have to get over that, but thats insane to me!
and I agree, LI is a great place to live, but again - when the middle class can't afford a home....theres a serious economic problem happening!
eta: the lower salary thing isnt necessarly true either - i know pleanty of people that make comparable salaries in "cheaper" states. For example, friends of mine moved to NC - put no money down on a new construction 4 bedroom colonial in NC and her FHwas able to transfer with his NY Salary! His mortgage and taxes are less than one paycheck
Message edited 7/7/2006 10:33:38 AM.
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| Posted 7/7/06 10:31 AM |
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SweetestOfPeas
J'taime Paris!
Member since 3/06 32345 total posts
Name:
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Re: Somethings gotta give, right?
Posted by Palebride
Posted by schnapy
But we are talking about NY. Not some other state... Things have always been relatively less expensive else where. even when houses here were only 170k things were cheaper in other states
Maybe I'm a crazy optimist.....but I kind of like that houses are more expensive on LI....it makes it that much more of an accomplishment when you work hard, save, and then can actually own a home here.
Sure, it can get ridiculous - but we do have great schools, so I think the high taxes have a reason for being so high!
actually, the reason the taxes are so high on LI is because we get the least amount of Gov't funding. there are great schools in other parts of the country as well.
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| Posted 7/7/06 10:34 AM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: Somethings gotta give, right?
No I understand but if we lived somewhere else, we would still be complaining because salaries are less out of state also.
In the end we all die complaining about our 30 yr mortgages and taxes
that's not true at all- such a myth
my sister are her BF moved to Maryland- and the make the same if not more then they would have made here
my Brother lives in floirda with his FW- they both make more then they could have made here- and are buying a house next year
Sasha who moved to Atlanta- both her and her DH make more- own a home and 2 new cars- something they did not have here
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| Posted 7/7/06 10:36 AM |
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Palebride
I am an amazing bakist
Member since 5/05 13673 total posts
Name:
Lori
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Re: Somethings gotta give, right?
Posted by Meaghan729
honestly, If i had been able to buy before the boom I would be in that boat.
but it irks me that people who bought 5 years ago wouldnt be able to afford their own home today. and I have to get over that, but thats insane to me!
and I agree, LI is a great place to live, but again - when the middle class can't afford a home....theres a serious economic problem happening!
I don't think it's as impossible as some people think it is to afford a home. Perhaps you can't afford the nicest home in the nicest town right away, but there are homes out there that are affordable.
My husband and I are FAR from wealthy - but we will be able to afford a house (once we find one that we like)
And people who bought 5 years ago could easliy sell their homes for A LOT more than they paid then, and use the money they made as a nice down payment on a new home.
Where there's a will, there's a way.
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| Posted 7/7/06 10:36 AM |
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CookiePuss
Cake from Outer Space!
Member since 5/05 14021 total posts
Name:
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Re: Somethings gotta give, right?
Posted by dandg
Posted by Beth1210
Posted by dandg
Posted by Beth1210
what we are saying is a house is first a place to live- then an investment
not that it's not an investment-
it's when people look at houses for soley investment purposes then things get screwed up
I think some of us like to hear ourselves talk!
FYI- putting the icon doesn't make it ok to insult me-
Wasnt trying to make it ok, i was laughing at you!
Beth, You are 100% correct. I read most of this post and while a house is an asset, if it's a primary residence it usually isn't a great "investment" because of maintantence cost and replacement costs. Add in taxes, utility bills, repair costs, etc. over the years you own your home. Those costs come out of the "appreciation" in your home and cut into the return. Then add in the replacement cost....you have to live somewhere so if you sell a home and take a profit, you eventually have to find some place else to live.
This was my 2 cents and I'm done.
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| Posted 7/7/06 10:36 AM |
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SweetestOfPeas
J'taime Paris!
Member since 3/06 32345 total posts
Name:
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Re: Somethings gotta give, right?
Posted by Meaghan729
honestly, If i had been able to buy before the boom I would be in that boat.
but it irks me that people who bought 5 years ago wouldnt be able to afford their own home today. and I have to get over that, but thats insane to me!
and I agree, LI is a great place to live, but again - when the middle class can't afford a home....theres a serious economic problem happening!
eta: the lower salary thing isnt necessarly true either - i know pleanty of people that make comparable salaries in "cheaper" states. For example, friends of mine moved to NC - put no money down on a new construction 4 bedroom colonial in NC and her FHwas able to transfer with his NY Salary! His mortgage and taxes are less than one paycheck
yup! making less outside of NY is a misconception. same goes for "taxes are higher here b/c we have better schools"
umm no. taxes are higher here because we don't get the Gov't funding the rest of the country gets!
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| Posted 7/7/06 10:36 AM |
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MegZee
My bunny
Member since 5/06 8777 total posts
Name:
Meaghan
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Re: Somethings gotta give, right?
Posted by Palebride
Posted by Meaghan729
honestly, If i had been able to buy before the boom I would be in that boat.
but it irks me that people who bought 5 years ago wouldnt be able to afford their own home today. and I have to get over that, but thats insane to me!
and I agree, LI is a great place to live, but again - when the middle class can't afford a home....theres a serious economic problem happening!
I don't think it's as impossible as some people think it is to afford a home. Perhaps you can't afford the nicest home in the nicest town right away, but there are homes out there that are affordable.
My husband and I are FAR from wealthy - but we will be able to afford a house (once we find one that we like)
And people who bought 5 years ago could easliy sell their homes for A LOT more than they paid then, and use the money they made as a nice down payment on a new home.
Where there's a will, there's a way.
And if you didn't buy 5 years ago??? you're screwed?? sorry, I was 19 five years ago!
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| Posted 7/7/06 10:38 AM |
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Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
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Re: Somethings gotta give, right?
Beth, You are 100% correct. I read most of this post and while a house is an asset, if it's a primary residence it usually isn't a great "investment" because of maintantence cost and replacement costs. Add in taxes, utility bills, repair costs, etc. over the years you own your home. Those costs come out of the "appreciation" in your home and cut into the return. Then add in the replacement cost....you have to live somewhere so if you sell a home and take a profit, you eventually have to find some place else to live.
This was my 2 cents and I'm done.
thank you- I love when people can explain my points better then me- I appericate it
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| Posted 7/7/06 10:41 AM |
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Palebride
I am an amazing bakist
Member since 5/05 13673 total posts
Name:
Lori
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Re: Somethings gotta give, right?
Posted by SweetestOfPeas
yup! making less outside of NY is a misconception. same goes for "taxes are higher here b/c we have better schools"
umm no. taxes are higher here because we don't get the Gov't funding the rest of the country gets!
The salary thing isn't a misconception if you're a teacher, as i am. There's NO WAY I could make my salary as a teacher aywhere but on LI. I have a friend who has been teaching twice as long as I have, but I'm making more money than her now - only because I'm on LI and she isn't.
And I never said we have better schools than anywhere else. I said we have high taxes, and excellent schools. I don't mind paying higher taxes if it is going to the school so that my children can get an excellent education.
I don't know, maybe it's just me, but I don't understand why people have to be so negative about things. Why doesn't anyone like to look on the positive side of this situation?
Think happy thoughts 
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| Posted 7/7/06 10:41 AM |
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MegZee
My bunny
Member since 5/06 8777 total posts
Name:
Meaghan
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Re: Somethings gotta give, right?
Posted by Palebride
Posted by SweetestOfPeas
yup! making less outside of NY is a misconception. same goes for "taxes are higher here b/c we have better schools"
umm no. taxes are higher here because we don't get the Gov't funding the rest of the country gets!
The salary thing isn't a misconception if you're a teacher, as i am. There's NO WAY I could make my salary as a teacher aywhere but on LI. I have a friend who has been teaching twice as long as I have, but I'm making more money than her now - only because I'm on LI and she isn't.
And I never said we have better schools than anywhere else. I said we have high taxes, and excellent schools. I don't mind paying higher taxes if it is going to the school so that my children can get an excellent education.
I don't know, maybe it's just me, but I don't understand why people have to be so negative about things. Why doesn't anyone like to look on the positive side of this situation?
Think happy thoughts
i dont feel that we are being negative.
I will own a home by next year. may not be my dream house, but I need a place to live and would rather buy than rent.
I am just talking about the insane housing costs and the 20 somethings leaving long island in droves - somethings gotta give!
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| Posted 7/7/06 10:43 AM |
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~Colleen~
my loves...
Member since 5/05 9129 total posts
Name:
guess
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Re: Somethings gotta give, right?
Posted by Meaghan729
but it irks me that people who bought 5 years ago wouldnt be able to afford their own home today. and I have to get over that, but thats insane to me!
Sure, but their parent's and friend's said the same thing to them when they were buying that home 5 years ago. So really, it's all relative. Where there's a will, there's a way.
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| Posted 7/7/06 10:45 AM |
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