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KateDevine
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Member since 6/06 24950 total posts
Name:
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Re: Rent
We rent a 3 bedroom, 2 bathroom house with a garage and a backyard on Staten Island for $1900/month. It is what it is. This house is completely redone and I am an hour from my job in Midtown and DH is five minutes from his EMS Station.
I am from Miller Place, eventually, we'd like to move out east (in the next five years) but we need to see where DH ends up stationed permanently and I would like to work on LI again.
It's hard, DH really wants a house, but this is not the time for us right now. I know people say you pay X in rent you can pay Y in a mortgage, but we aren't there yet.
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Posted 1/31/07 9:30 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: Rent
Posted by hazeleyes33
Posted by Beth1210
I understand that but we we bought we were making half of what we do now. Just like when my parents bought our house, they were making pratically nothing compared today. As the price of houses go up, so does the salaries. If we had the salaries we had now then, we would have been able to buy a much larger house.
the salaries on LI have not kept pace with the housing prices
renting doesn't always equal you can't afford a house-
No, I understand that by seeing how much people are making on this board alone, that is why they are able to buy the $400,000 and up houses. We were only able to get 1x our salary for our house when we bought and that was just the amount we had after our down payment. We made NOTHING when we first got married and I am not joking-lol!! People today getting married (which I know people get married later now) make alot more than we did.
this is true, the salaries have not kept up with the housing prices, it is hard to compare now with even 5-6 years ago.
in that study that came out last week, when using the "standard" that a house is affordable at 2.5X your salary, in 2000 60% of homes on LI were "affordable" to people making $100K or less. In 2006, the figure went to 2% of the homes being "affordable." That shows you right there that salaries have not kept up with the increase in housing prices.
I also think taxes have a lot to do with it - remember you don't pay taxes when you rent, and then adding anywhere from $500- over $1000 each month in taxes alone can make owning a house unaffordable to someone who rents.
Message edited 2/1/2007 9:36:38 AM.
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| Posted 2/1/07 9:35 AM |
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MrsM-6-7-08
<3
Member since 8/06 4249 total posts
Name:
Nicole
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Re: Rent
when we rented in 04-06 we paid 2100 for our 1 bedroom, 1.5 bath oceanfront balcony apartment, with washer dryer inside, wich was a huge plus!
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| Posted 2/1/07 11:33 AM |
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| Pages: 1 [2] |
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