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lorich
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Member since 6/05 9987 total posts
Name:
Grammie says "Lora Gina"
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Re: Somethings gotta give, right?
Posted by SweetTooth
We should also not generalize NY as being expensive- its just the areas close to the city. My DH is from upstate and his brother bought a beautiful house for 150k. His mortgage payments with taxes are almost half our rent on our tiny queens apartment.
So you could move upstate too, not just down south.
Agree...and as I posted above it is the LI/NYC Metro areas only. My family built their house with their own hands HUGE ranch house (twice the size down here) 2 car garage, 3.5 acres of land..assessed at $150k. (upstate)
LOVE the house...not interested in living the lifestyle I grew up in....which all goes back to my post again...I'm dealing, sure prices are outrageous, but if no one wants to live here...move.
Message edited 7/7/2006 12:29:47 PM.
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Posted 7/7/06 12:29 PM  |
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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 SweetTooth
We should also not generalize NY as being expensive- its just the areas close to the city. My DH is from upstate and his brother bought a beautiful house for 150k. His mortgage payments with taxes are almost half our rent on our tiny queens apartment.
So you could move upstate too, not just down south.
The house prices here are so frustrating they make me want to cry. I want to stay here because my friends and family are here but the fact combined we make pretty decent money and can't even afford to buy a decent house kills me. I always dreamed that I would get married, buy a house, and have kids. Now I don't think we can buy the house and if we do, I don't know how we would be able to afford kids as well. What kind of place is it where I have to choose between buying a house or having children?
case and point- according to some posters should should be able to do it all- your just not scarficing enough-
this is happeing to a lot of people our age- I have heard this story before and it makes me sick to think that you would have to make that choice
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| Posted 7/7/06 12:30 PM |
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Blu-ize
Plan B is Now Plan A
Member since 7/05 32475 total posts
Name:
Susan
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Re: Somethings gotta give, right?
I'm curious..if the average combined household income on LI is $76K what are the real numbers.
Are you making more or less than this or just about there combined?
I think this is a low number..but I could be wrong.
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| Posted 7/7/06 12:41 PM |
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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?
Fh and I make over $100M -
but we have student loans up the wazoo.
(If my father were alive, we would make about the same as my parents would today.)
The LI Index says the average household income for LI is $75,177 with a median home value of $394,682.
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| Posted 7/7/06 12:45 PM |
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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 lorich
Posted by SweetestOfPeas
Posted by Palebride
Posted by SweetestOfPeas
Posted by Palebride
Posted by SweetestOfPeas
but mom was a SAHM. not very possible these days, not here anyway.
I didn't realize that being a SAHM was being debated as well.
why shouldn't it be? my mom was able to stay home and raise her kids - and I am SO happy she was able to do that!! If I want to be a SAHM now, no chance in hell we could afford that here.
I never said it shouldn't be - I just thought we were talking about the expensive LI housing market.
No one mentioned being a SAHM and affording a house.
Both of my parents worked throughout my childhood and I am SO happy they were able to do that as well. And that is how I plan on raising my family.
Again, these are all personal choices. None of them are right OR wrong!
they are personal choices. and mine would be to stay at home and raise my kid/s, but I can't afford that here because of housing costs.
Now no one loves you more than I do.. , but...if that's honestly truly what you want to do....move. It's not going to happen anytime soon on LI.
you know I love you too - and family is also the most important thing to me. that's why I would rather be a SAHM and not drop my kid off in daycare everyday 
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| Posted 7/7/06 12:46 PM |
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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 Blu-ize
I'm curious..if the average combined household income on LI is $76K what are the real numbers.
Are you making more or less than this or just about there combined?
I think this is a low number..but I could be wrong.
Those are the #’s I saw in Newsday not too long ago.
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| Posted 7/7/06 12:48 PM |
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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 SweetestOfPeas
Posted by Blu-ize
I'm curious..if the average combined household income on LI is $76K what are the real numbers.
Are you making more or less than this or just about there combined?
I think this is a low number..but I could be wrong.
Those are the #’s I saw in Newsday not too long ago.
i posted above, according to the LI Index its $75K average Household Income, so she's right.
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| Posted 7/7/06 12:51 PM |
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SweetTooth
I'm a tired mommy!
Member since 12/05 20105 total posts
Name:
Lauren
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Re: Somethings gotta give, right?
Posted by Meaghan729
Posted by SweetestOfPeas
Posted by Blu-ize
I'm curious..if the average combined household income on LI is $76K what are the real numbers.
Are you making more or less than this or just about there combined?
I think this is a low number..but I could be wrong.
Those are the #’s I saw in Newsday not too long ago.
i posted above, according to the LI Index its $75K average Household Income, so she's right.
I found this - its average household incomes broken down by villages. And this was 6 years ago in the 2000 census.
Household income
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| Posted 7/7/06 1:19 PM |
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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?
median household income for LI
and some other demographic info
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| Posted 7/7/06 1:23 PM |
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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?
Wow, I wonder who participated in this demographic 
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| Posted 7/7/06 1:27 PM |
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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 Colleen9304
Wow, I wonder who participated in this demographic
here is more info
you can also contact them for more info
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| Posted 7/7/06 1:33 PM |
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SweetTooth
I'm a tired mommy!
Member since 12/05 20105 total posts
Name:
Lauren
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Re: Somethings gotta give, right?
Posted by Colleen9304
Wow, I wonder who participated in this demographic
It does say this though:
Why is this important?
In 2004, according to the U.S. Census Bureau’s Housing Vacancy Survey, 85.7
percent of Long Island households were owner-occupied. But homeownership costs
have skyrocketed beyond the reach of vast numbers of first-time homebuyers. A
combination of factors, including record low mortgage interest rates, flexible mortgage
practices, larger house sizes, diminishing amounts of land, and high demand
have driven home prices to their highest levels ever. The scarcity of affordable
housing has become one of the most significant challenges facing Long Island.
How are we doing?
The cost of housing on Long Island has increased dramatically over the past ten
years. In 1995, the median price of a single family home in Nassau County was
$173,000 and in Suffolk County was $133,000. In 2005, the median price of a
single family home has increased to $490,000 in Nassau and $390,000 in Suffolk.
According to Fannie Mae, a home is considered affordable if the purchase price is
no more than 2.5 times the buyer’s annual household income.The ratio of median
home price to median family income on Long Island has increased from 2.2 in 1996
to 4.8 in 2005. According to this standard, the majority of Long Island homeowners
could not afford to purchase the home they currently live in.
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| Posted 7/7/06 1:46 PM |
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Blu-ize
Plan B is Now Plan A
Member since 7/05 32475 total posts
Name:
Susan
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Re: Somethings gotta give, right?
I was asking you all for real numbers. I wasn't looking for documentation.
DH and I make more than that average. I'll put up a poll if anyone is interested.
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| Posted 7/7/06 1:54 PM |
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SweetTooth
I'm a tired mommy!
Member since 12/05 20105 total posts
Name:
Lauren
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Re: Somethings gotta give, right?
Posted by Blu-ize
I was asking you all for real numbers. I wasn't looking for documentation.
DH and I make more than that average. I'll put up a poll if anyone is interested.
Oh ok. Yea we make more than that average as well.
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| Posted 7/7/06 1:56 PM |
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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 Blu-ize
I was asking you all for real numbers. I wasn't looking for documentation.
DH and I make more than that average. I'll put up a poll if anyone is interested.
I'm not sure I understand.
the average is just that, an average of what everyone who lives on LI makes
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| Posted 7/7/06 1:58 PM |
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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 SweetTooth
According to Fannie Mae, a home is considered affordable if the purchase price is
no more than 2.5 times the buyer’s annual household income.
now everyone knows why there is so much frustration!
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| Posted 7/7/06 2:00 PM |
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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 Blu-ize
I was asking you all for real numbers. I wasn't looking for documentation.
DH and I make more than that average. I'll put up a poll if anyone is interested.
That's what I'm talking about.
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| Posted 7/7/06 2:09 PM |
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Blu-ize
Plan B is Now Plan A
Member since 7/05 32475 total posts
Name:
Susan
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Re: Somethings gotta give, right?
Posted by SweetTooth
Posted by Blu-ize
I was asking you all for real numbers. I wasn't looking for documentation.
DH and I make more than that average. I'll put up a poll if anyone is interested.
Oh ok. Yea we make more than that average as well.
Would a poll help us put this in perspective to see what LIF'ers are making for real?
Most people I know on LI make more than that average.
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| Posted 7/7/06 2:16 PM |
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SweetTooth
I'm a tired mommy!
Member since 12/05 20105 total posts
Name:
Lauren
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Re: Somethings gotta give, right?
Posted by SweetestOfPeas
Posted by Blu-ize
I was asking you all for real numbers. I wasn't looking for documentation.
DH and I make more than that average. I'll put up a poll if anyone is interested.
I'm not sure I understand.
the average is just that, an average of what everyone who lives on LI makes
I think she's trying to show that even though many of us make more than this average, we still can't afford a house.
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| Posted 7/7/06 2:19 PM |
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MrsA
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Member since 1/06 2012 total posts
Name:
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Re: Somethings gotta give, right?
Posted by Blu-ize
Posted by SweetTooth
Posted by Blu-ize
I was asking you all for real numbers. I wasn't looking for documentation.
DH and I make more than that average. I'll put up a poll if anyone is interested.
Oh ok. Yea we make more than that average as well.
Would a poll help us put this in perspective to see what LIF'ers are making for real?
Most people I know on LI make more than that average.
a poll may help, I also agree, most couples I know definitely make more than that ave.
But I guess it also depends on what other expenses you have that can make buying a home more difficult. (school loans, car loans, etc)
So I think it has to do w/ each person's situaton.
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| Posted 7/7/06 2:21 PM |
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Blu-ize
Plan B is Now Plan A
Member since 7/05 32475 total posts
Name:
Susan
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Re: Somethings gotta give, right?
Posted by SweetTooth
Posted by SweetestOfPeas
Posted by Blu-ize
I was asking you all for real numbers. I wasn't looking for documentation.
DH and I make more than that average. I'll put up a poll if anyone is interested.
I'm not sure I understand.
the average is just that, an average of what everyone who lives on LI makes
I think she's trying to show that even though many of us make more than this average, we still can't afford a house.
yes, also if we all make more than that and I'm merely speculating on this that 2.5x the average is not realistic either for the price of a home here.
So if you make $150,000 a year 2.5x of that is $400,000..I hope I did that right..lost w/o my calculator...
SO if you make $75k a year-you will never buy a house here.
I'm just trying to make the numbers make sense.
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| Posted 7/7/06 2:23 PM |
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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 SweetTooth
Posted by SweetestOfPeas
Posted by Blu-ize
I was asking you all for real numbers. I wasn't looking for documentation.
DH and I make more than that average. I'll put up a poll if anyone is interested.
I'm not sure I understand.
the average is just that, an average of what everyone who lives on LI makes
I think she's trying to show that even though many of us make more than this average, we still can't afford a house.
oh, I see.
honestly DH and I can afford a house here but we're not buying yet. the market has changed from when we first started looking (in Jan) and we want to wait a little longer. the inventory of houses on LI is at an all time high and a lot of them have been for sale since the winter.
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| Posted 7/7/06 2:23 PM |
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lorich
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Member since 6/05 9987 total posts
Name:
Grammie says "Lora Gina"
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Re: Somethings gotta give, right?
Posted by MrsA
Posted by Blu-ize
Posted by SweetTooth
Posted by Blu-ize
I was asking you all for real numbers. I wasn't looking for documentation.
DH and I make more than that average. I'll put up a poll if anyone is interested.
Oh ok. Yea we make more than that average as well.
Would a poll help us put this in perspective to see what LIF'ers are making for real?
Most people I know on LI make more than that average.
a poll may help, I also agree, most couples I know definitely make more than that ave.
But I guess it also depends on what other expenses you have that can make buying a home more difficult. (school loans, car loans, etc)
So I think it has to do w/ each person's situaton.
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| Posted 7/7/06 2:23 PM |
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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 Blu-ize
Posted by SweetTooth
Posted by SweetestOfPeas
Posted by Blu-ize
I was asking you all for real numbers. I wasn't looking for documentation.
DH and I make more than that average. I'll put up a poll if anyone is interested.
I'm not sure I understand.
the average is just that, an average of what everyone who lives on LI makes
I think she's trying to show that even though many of us make more than this average, we still can't afford a house.
yes, also if we all make more than that and I'm merely speculating on this that 2.5x the average is not realistic either for the price of a home here.
So if you make $150,000 a year 2.5x of that is $400,000..I hope I did that right..lost w/o my calculator...
SO if you make $75k a year-you will never buy a house here.
I'm just trying to make the numbers make sense.
2.5 x $150K = $375
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| Posted 7/7/06 2:24 PM |
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Freddie
LIF Adult
Member since 3/06 1162 total posts
Name:
Freddie
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Re: Somethings gotta give, right?
wow this thread grew!!!
First: Lori/Palebride - I love your optimism!! I'm like that too!
Second: DH first started looking at houses in 2001 (5 years ago) and I remember complaining to my cousin (also looking) at my engagement party that its a harsh world when 1/2 million is a deal.
It was definitely the areas that both of us were looking in, but still I remember looking at a 2 BD house for 385K!
Third: Can we talk about the phrase median house price? It means for every house OVER that number - there is one UNDER that number!
Fourth: My mom worked when I was growing up...Their mortage was less than $50/month (but we all know about expenses and taxes  ) I have been lucky enough to stay at home for a bit (I could for linger, but I'm itching to get back)
Fifth: There is no way I am moving to NC, FL or TX...no way no how. I like my blue states and my skin is too fair for that kind of heat.
I know it's hard when you are looking and remember not everyone can have a new house...we would all run out of room!
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| Posted 7/7/06 2:24 PM |
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