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lululu
LIF Adult
Member since 7/05 9508 total posts
Name:
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Re: Housing prices
Posted by LuckyStar
I follow a lot of city to suburb type blogs and I would argue northern NJ is the hottest of all in the tri-state area, followed by Westchester and CT, with Westchester having a slight edge over CT. I rarely read about anyone without roots on LI picking up and moving to LI.
And if we're going to split hairs about where the wealthy move, only 1 LI town (East Hills) makes the Bloomberg Top 50 richest places in America. NJ has 4, Westchester has 5 and CT has 4.
East Hills??? That's the wealthiest town on Long Island? I would think that Kings Point, Sands Point, Mill Neck, Brookville and a lot others would rank above East Hills. I live a couple towns over and there's really nothing special about East Hills.
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Posted 12/14/20 5:26 PM  |
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LuckyStar
LIF Adult
Member since 7/14 7272 total posts
Name:
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Re: Housing prices
Posted by lululu
Posted by LuckyStar
I follow a lot of city to suburb type blogs and I would argue northern NJ is the hottest of all in the tri-state area, followed by Westchester and CT, with Westchester having a slight edge over CT. I rarely read about anyone without roots on LI picking up and moving to LI.
And if we're going to split hairs about where the wealthy move, only 1 LI town (East Hills) makes the Bloomberg Top 50 richest places in America. NJ has 4, Westchester has 5 and CT has 4.
East Hills??? That's the wealthiest town on Long Island? I would think that Kings Point, Sands Point, Mill Neck, Brookville and a lot others would rank above East Hills. I live a couple towns over and there's really nothing special about East Hills.
https://www.bloomberg.com/news/articles/2020-02-20/in-america-s-richest-town-500k-a-year-is-now-below-average
Just reporting  I know nothing about East Hills.
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| Posted 12/14/20 5:30 PM |
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lululu
LIF Adult
Member since 7/05 9508 total posts
Name:
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Re: Housing prices
Posted by lululu
Posted by LuckyStar
I follow a lot of city to suburb type blogs and I would argue northern NJ is the hottest of all in the tri-state area, followed by Westchester and CT, with Westchester having a slight edge over CT. I rarely read about anyone without roots on LI picking up and moving to LI.
And if we're going to split hairs about where the wealthy move, only 1 LI town (East Hills) makes the Bloomberg Top 50 richest places in America. NJ has 4, Westchester has 5 and CT has 4.
East Hills??? That's the wealthiest town on Long Island? I would think that Kings Point, Sands Point, Mill Neck, Brookville and a lot others would rank above East Hills. I live a couple towns over and there's really nothing special about East Hills.
I just found another article that lists East Hills.
America's Wealthiest Towns
So odd to me because if you do a zillow search on East Hills the highest price house is $2.7mm whereas if you do a search for Kings Point there are a ton of listings well over $5mm. Something doesn't make sense with these rankings.
Sorry, totally off topic. Just seems odd to me.
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| Posted 12/14/20 5:31 PM |
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lululu
LIF Adult
Member since 7/05 9508 total posts
Name:
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Re: Housing prices
Posted by LuckyStar
Posted by lululu
Posted by LuckyStar
I follow a lot of city to suburb type blogs and I would argue northern NJ is the hottest of all in the tri-state area, followed by Westchester and CT, with Westchester having a slight edge over CT. I rarely read about anyone without roots on LI picking up and moving to LI.
And if we're going to split hairs about where the wealthy move, only 1 LI town (East Hills) makes the Bloomberg Top 50 richest places in America. NJ has 4, Westchester has 5 and CT has 4.
East Hills??? That's the wealthiest town on Long Island? I would think that Kings Point, Sands Point, Mill Neck, Brookville and a lot others would rank above East Hills. I live a couple towns over and there's really nothing special about East Hills.
https://www.bloomberg.com/news/articles/2020-02-20/in-america-s-richest-town-500k-a-year-is-now-below-average
Just reporting I know nothing about East Hills.
I know I only say this because I drive through East Hills 3 days a week and never would I think it's the wealthiest town on LI!
Also, I agree most people who are not from LI originally would choose to move to LI. I have a handful of friends who are not from here but are here because of work. Funny though, they all seem to like it much more than a lot of the native long islanders that I know. Maybe because they chose it instead of felt compelled to live here because of friends and family.
Message edited 12/14/2020 5:34:24 PM.
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| Posted 12/14/20 5:33 PM |
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Re: Housing prices
Posted by lululu
Posted by LuckyStar
Posted by lululu
Posted by LuckyStar
I follow a lot of city to suburb type blogs and I would argue northern NJ is the hottest of all in the tri-state area, followed by Westchester and CT, with Westchester having a slight edge over CT. I rarely read about anyone without roots on LI picking up and moving to LI.
And if we're going to split hairs about where the wealthy move, only 1 LI town (East Hills) makes the Bloomberg Top 50 richest places in America. NJ has 4, Westchester has 5 and CT has 4.
East Hills??? That's the wealthiest town on Long Island? I would think that Kings Point, Sands Point, Mill Neck, Brookville and a lot others would rank above East Hills. I live a couple towns over and there's really nothing special about East Hills.
https://www.bloomberg.com/news/articles/2020-02-20/in-america-s-richest-town-500k-a-year-is-now-below-average
Just reporting I know nothing about East Hills.
I know I only say this because I drive through East Hills 3 days a week and never would I think it's the wealthiest town on LI!
Also, I agree most people who are not from LI originally would choose to move to LI. I have a handful of friends who are not from here but are here because of work. Funny though, they all seem to like it much more than a lot of the native long islanders that I know. Maybe because they chose it instead of felt compelled to live here because of friends and family.
Are they raising a family here on the island or just here for work?
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| Posted 12/14/20 5:44 PM |
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ave1024
I Took The Wrong Road
Member since 12/07 6153 total posts
Name:
That Led To The Wrong Tendencies
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Re: Housing prices
Posted by lululu
Posted by LuckyStar
Posted by lululu
Posted by LuckyStar
I follow a lot of city to suburb type blogs and I would argue northern NJ is the hottest of all in the tri-state area, followed by Westchester and CT, with Westchester having a slight edge over CT. I rarely read about anyone without roots on LI picking up and moving to LI.
And if we're going to split hairs about where the wealthy move, only 1 LI town (East Hills) makes the Bloomberg Top 50 richest places in America. NJ has 4, Westchester has 5 and CT has 4.
East Hills??? That's the wealthiest town on Long Island? I would think that Kings Point, Sands Point, Mill Neck, Brookville and a lot others would rank above East Hills. I live a couple towns over and there's really nothing special about East Hills.
https://www.bloomberg.com/news/articles/2020-02-20/in-america-s-richest-town-500k-a-year-is-now-below-average
Just reporting I know nothing about East Hills.
I know I only say this because I drive through East Hills 3 days a week and never would I think it's the wealthiest town on LI!
Also, I agree most people who are not from LI originally would choose to move to LI. I have a handful of friends who are not from here but are here because of work. Funny though, they all seem to like it much more than a lot of the native long islanders that I know. Maybe because they chose it instead of felt compelled to live here because of friends and family.
Nassau in general is very wealthy, on average. When you break it down by county instead of by town, you see the difference.
https://www.foxbusiness.com/money/washington-dc-suburbs-richest-counties
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| Posted 12/14/20 5:52 PM |
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Sash
Peace
Member since 6/08 10312 total posts
Name:
fka LIW Smara
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Re: Housing prices
Posted by LuckyStar
I follow a lot of city to suburb type blogs and I would argue northern NJ is the hottest of all in the tri-state area, followed by Westchester and CT, with Westchester having a slight edge over CT. I rarely read about anyone without roots on LI picking up and moving to LI.
And if we're going to split hairs about where the wealthy move, only 1 LI town (East Hills) makes the Bloomberg Top 50 richest places in America. NJ has 4, Westchester has 5 and CT has 4.
Don’t you dare compare Nj or other states to LI - the holy grail.
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| Posted 12/14/20 6:29 PM |
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NervousNell
Just another chapter in life..
Member since 11/09 54917 total posts
Name:
..being a mommy and being a wife!
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Re: Housing prices
Posted by Sash
Posted by LuckyStar
I follow a lot of city to suburb type blogs and I would argue northern NJ is the hottest of all in the tri-state area, followed by Westchester and CT, with Westchester having a slight edge over CT. I rarely read about anyone without roots on LI picking up and moving to LI.
And if we're going to split hairs about where the wealthy move, only 1 LI town (East Hills) makes the Bloomberg Top 50 richest places in America. NJ has 4, Westchester has 5 and CT has 4.
Don’t you dare compare Nj or other states to LI - the holy grail.
Best brown water beaches in the world! For the 2 months a year it's warm enough to use them! And don't forget the god awful roads and run down infrastructure! Utopia! Worth every cent of the half a million dollars for a 900 square foot house that hasn't been updated since 1972! 
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| Posted 12/14/20 6:52 PM |
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Naturalmama
Love my boys!!
Member since 1/12 3548 total posts
Name:
Christine
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Re: Housing prices
LI is a shithole. I can't wait for my family to get out. Westchester and CT are much nicer.
Message edited 12/14/2020 6:55:05 PM.
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| Posted 12/14/20 6:54 PM |
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BFNY516
LIF Adult
Member since 7/20 1187 total posts
Name:
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Re: Housing prices
Posted by Naturalmama
LI is a shithole. I can't wait for my family to get out. Westchester and CT are much nicer.
100%. I love NYC but LI has become an overpriced dump. Pot holes, paying $$ to cross bridges, taxes galore, tons of rude and aggressive drivers and entitled attitudes. Me, me, me. Overpopulated. Any available green space turning into condos that are rented for 5k a month. Traffic any time, going anywhere.
Every time I leave LI to travel anywhere else, I marvel at the fresh air, less traffic, pristine roads, and people who aren’t in a rush and are actually kind. I never thought I’d be someone who would want to leave here, but now I’m counting down the days.
Message edited 12/14/2020 7:29:49 PM.
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| Posted 12/14/20 7:29 PM |
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NervousNell
Just another chapter in life..
Member since 11/09 54917 total posts
Name:
..being a mommy and being a wife!
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Re: Housing prices
Posted by BFNY516
Posted by Naturalmama
LI is a shithole. I can't wait for my family to get out. Westchester and CT are much nicer.
100%. I love NYC but LI has become an overpriced dump. Pot holes, paying $$ to cross bridges, taxes galore, tons of rude and aggressive drivers and entitled attitudes. Me, me, me. Overpopulated. Any available green space turning into condos that are rented for 5k a month. Traffic any time, going anywhere.
Every time I leave LI to travel anywhere else, I marvel at the fresh air, less traffic, pristine roads, and people who aren’t in a rush and are actually kind. I never thought I’d be someone who would want to leave here, but now I’m counting down the days.
100% the same.
The overpopulation is the worst. The roads were not designed for the amount of people they packed in. Condos that house 100s of people on spaces that should have been a few houses with just a few people. Nothing is fun anymore because to go anywhere or do anything you battle traffic and crowds
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| Posted 12/14/20 7:34 PM |
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BFNY516
LIF Adult
Member since 7/20 1187 total posts
Name:
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Re: Housing prices
Posted by NervousNell
Posted by BFNY516
Posted by Naturalmama
LI is a shithole. I can't wait for my family to get out. Westchester and CT are much nicer.
100%. I love NYC but LI has become an overpriced dump. Pot holes, paying $$ to cross bridges, taxes galore, tons of rude and aggressive drivers and entitled attitudes. Me, me, me. Overpopulated. Any available green space turning into condos that are rented for 5k a month. Traffic any time, going anywhere.
Every time I leave LI to travel anywhere else, I marvel at the fresh air, less traffic, pristine roads, and people who aren’t in a rush and are actually kind. I never thought I’d be someone who would want to leave here, but now I’m counting down the days.
100% the same.
The overpopulation is the worst. The roads were not designed for the amount of people they packed in. Condos that house 100s of people on spaces that should have been a few houses with just a few people. Nothing is fun anymore because to go anywhere or do anything you battle traffic and crowds
Plus kids can’t even afford to move out at the age they should be spreading their wings or even buy their first home without sizable help from their parents. It’s almost impossible and rental prices have gone the way of home prices. It’s unlivable.
Message edited 12/14/2020 7:43:40 PM.
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| Posted 12/14/20 7:41 PM |
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Mrs213
????????
Member since 2/09 18986 total posts
Name:
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Re: Housing prices
Posted by lululu
Posted by LuckyStar
I follow a lot of city to suburb type blogs and I would argue northern NJ is the hottest of all in the tri-state area, followed by Westchester and CT, with Westchester having a slight edge over CT. I rarely read about anyone without roots on LI picking up and moving to LI.
And if we're going to split hairs about where the wealthy move, only 1 LI town (East Hills) makes the Bloomberg Top 50 richest places in America. NJ has 4, Westchester has 5 and CT has 4.
East Hills??? That's the wealthiest town on Long Island? I would think that Kings Point, Sands Point, Mill Neck, Brookville and a lot others would rank above East Hills. I live a couple towns over and there's really nothing special about East Hills.
What about the Hamptons?
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| Posted 12/14/20 7:53 PM |
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lululu
LIF Adult
Member since 7/05 9508 total posts
Name:
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Re: Housing prices
Posted by valentinesbaby48
Posted by lululu
Posted by LuckyStar
Posted by lululu
Posted by LuckyStar
I follow a lot of city to suburb type blogs and I would argue northern NJ is the hottest of all in the tri-state area, followed by Westchester and CT, with Westchester having a slight edge over CT. I rarely read about anyone without roots on LI picking up and moving to LI.
And if we're going to split hairs about where the wealthy move, only 1 LI town (East Hills) makes the Bloomberg Top 50 richest places in America. NJ has 4, Westchester has 5 and CT has 4.
East Hills??? That's the wealthiest town on Long Island? I would think that Kings Point, Sands Point, Mill Neck, Brookville and a lot others would rank above East Hills. I live a couple towns over and there's really nothing special about East Hills.
https://www.bloomberg.com/news/articles/2020-02-20/in-america-s-richest-town-500k-a-year-is-now-below-average
Just reporting I know nothing about East Hills.
I know I only say this because I drive through East Hills 3 days a week and never would I think it's the wealthiest town on LI!
Also, I agree most people who are not from LI originally would choose to move to LI. I have a handful of friends who are not from here but are here because of work. Funny though, they all seem to like it much more than a lot of the native long islanders that I know. Maybe because they chose it instead of felt compelled to live here because of friends and family.
Are they raising a family here on the island or just here for work?
They are here for work raising their families here. they have all had children here and plan to stay unless they have to move for work.
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| Posted 12/14/20 12:53 PM |
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lululu
LIF Adult
Member since 7/05 9508 total posts
Name:
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Re: Housing prices
Posted by Mrs213
Posted by lululu
Posted by LuckyStar
I follow a lot of city to suburb type blogs and I would argue northern NJ is the hottest of all in the tri-state area, followed by Westchester and CT, with Westchester having a slight edge over CT. I rarely read about anyone without roots on LI picking up and moving to LI.
And if we're going to split hairs about where the wealthy move, only 1 LI town (East Hills) makes the Bloomberg Top 50 richest places in America. NJ has 4, Westchester has 5 and CT has 4.
East Hills??? That's the wealthiest town on Long Island? I would think that Kings Point, Sands Point, Mill Neck, Brookville and a lot others would rank above East Hills. I live a couple towns over and there's really nothing special about East Hills.
What about the Hamptons?
I said "and a lot of others." I mentioned those towns in particular because they are very close to East hills, but in my opinion, much more expensive and therefore probably have more wealth."
Also, the Hamptons does not have a large year round population since it is more of a vacation home destination so I am not sure how they would rank places like the Hamptons.
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| Posted 12/14/20 12:56 PM |
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JennP
LIF Adult
Member since 10/06 3986 total posts
Name:
Jenn
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Re: Housing prices
Posted by NervousNell
Posted by BFNY516
Posted by Naturalmama
LI is a shithole. I can't wait for my family to get out. Westchester and CT are much nicer.
100%. I love NYC but LI has become an overpriced dump. Pot holes, paying $$ to cross bridges, taxes galore, tons of rude and aggressive drivers and entitled attitudes. Me, me, me. Overpopulated. Any available green space turning into condos that are rented for 5k a month. Traffic any time, going anywhere.
Every time I leave LI to travel anywhere else, I marvel at the fresh air, less traffic, pristine roads, and people who aren’t in a rush and are actually kind. I never thought I’d be someone who would want to leave here, but now I’m counting down the days.
100% the same.
The overpopulation is the worst. The roads were not designed for the amount of people they packed in. Condos that house 100s of people on spaces that should have been a few houses with just a few people. Nothing is fun anymore because to go anywhere or do anything you battle traffic and crowds
I'm getting there too. I never thought hard about leaving the area because I have so many roots here but lately I find myself thinking about how in 7.5 years when DS graduates I'd like to be out of here and I think DH agrees.
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| Posted 12/14/20 1:06 PM |
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LuckyStar
LIF Adult
Member since 7/14 7272 total posts
Name:
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Housing prices
If you want no traffic and wide open spaces, you're going to have to leave the NY metro area entirely.
The area I moved to in lower Westchester is gorgeous. It's a living Norman Rockwell painting. It's also the most inconvenient flucking place I've ever lived. Norman Rockwell didn't paint parking lots or stores that stay open past 5.
LI may be a steaming trash heap but it's a trash heap with strip malls and drive thru dunkin and Starbucks and there is definitely something to be said for that.
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| Posted 12/14/20 4:16 AM |
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Re: Housing prices
Posted by LuckyStar
If you want no traffic and wide open spaces, you're going to have to leave the NY metro area entirely.
I agree. All the people I know in New Jersey paid just as high prices for their houses (also not in great condition for the price) and the yard size might be larger but not really by much... plus the traffic flow and everything else is just as bad. Less stores so trying to find someplace to grab something to eat is much more cumbersome.
And I have a ton of family and friends all over upstate. In the areas they live, yes, houses are so much more affordable. I could buy close to a mansion for the same price of my teeny tiny ranch here on LI. But again, there is still traffic and messy parking areas and a lack of wide open spaces. Their communities do not look any different than ours. Maybe in some areas where the school districts are less desirable, they have larger plots of land.
I have not been in CT in a longggg time, so I can't comment on that.
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| Posted 12/14/20 1:13 PM |
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GoldenRod
10 years on LIF!
Member since 11/06 26792 total posts
Name:
Shawn
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Re: Housing prices
I don't see me staying on LI too much longer, either. Once DC graduate HS here, DW and I will probably start to look at other locations. I've been looking to get 50+ acres and a few out buildings (barn for welding, another for my wood shop, etc) in Pennsylvania, NC, somewhere in that area.
DW can trace her lineage on LI back quite a few generations, and my family goes back a couple. Neither of us currently have many ties, though. We each have a brother on the West Coast, so it's not like we're all tight-knit on LI anyway.
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| Posted 12/14/20 1:30 PM |
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Sash
Peace
Member since 6/08 10312 total posts
Name:
fka LIW Smara
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Re: Housing prices
Posted by BaysideForever
Posted by LuckyStar
If you want no traffic and wide open spaces, you're going to have to leave the NY metro area entirely.
I agree. All the people I know in New Jersey paid just as high prices for their houses (also not in great condition for the price) and the yard size might be larger but not really by much... plus the traffic flow and everything else is just as bad. Less stores so trying to find someplace to grab something to eat is much more cumbersome.
And I have a ton of family and friends all over upstate. In the areas they live, yes, houses are so much more affordable. I could buy close to a mansion for the same price of my teeny tiny ranch here on LI. But again, there is still traffic and messy parking areas and a lack of wide open spaces. Their communities do not look any different than ours. Maybe in some areas where the school districts are less desirable, they have larger plots of land.
I have not been in CT in a longggg time, so I can't comment on that.
No one disputed the prices in NJ being high. It was the fact that it was brought up when discussing LI, almost as a comparison that got the discussion off the rails. Everyone said the market was hot and prices are high in Nj as well.
ETA: to clarify north Nj because south is way cheaper and can be like farmland. Lol.
Message edited 12/14/2020 2:47:20 PM.
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| Posted 12/14/20 2:35 PM |
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lululu
LIF Adult
Member since 7/05 9508 total posts
Name:
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Re: Housing prices
As far as the LI/NJ discussion goes I have lived in both places - grew up on LI and then went to college, moved to NJ for 9 years and then back to LI for the past 15 years.
As other posters have said, the entire NY metro area is very similar. The buffer between Manhattan and Long Island is Brooklyn/Queens. The buffer between Manhattan and Westchester is the Bronx. So the areas right outside of Manhattan in NJ are similar to living in the outer boroughs. Hoboken, Jersey City, Weehawken etc. would all have housing markets similar to Brooklyn, Queens etc. As you move farther out it is more similar to Westchester and Western Nassau with property values still high compared to what you get.
This whole area is dependent on your commuting distance and ease to Manhattan. That is certainly changing but in my experience the markets in these areas do tend to go hand in hand. People looking to leave the more congested areas that are close proximity to the city spread out fairly evenly in all directions. Each area has it's pros and cons and people will all be motivated by different things.
I would find it strange that the NJ equivalent of Nassau or Suffolk would be experiencing a dramatically different housing market trend than what we are seeing here on LI because the main draw to this area is your proximity to NYC. That's not to say it isn't possible, but with people leaving the city in droves this year I would find it odd that they are all moving to Westchester, Long Island and Connecticut and not NJ.
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| Posted 12/14/20 2:56 PM |
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seaside
LIF Adult
Member since 6/08 3101 total posts
Name:
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Re: Housing prices
Posted by LuckyStar
If you want no traffic and wide open spaces, you're going to have to leave the NY metro area entirely.
The area I moved to in lower Westchester is gorgeous. It's a living Norman Rockwell painting. It's also the most inconvenient flucking place I've ever lived. Norman Rockwell didn't paint parking lots or stores that stay open past 5.
LI may be a steaming trash heap but it's a trash heap with strip malls and drive thru dunkin and Starbucks and there is definitely something to be said for that.
This made me laugh out loud. So true.
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| Posted 12/14/20 3:52 PM |
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Paramount
Sweet!
Member since 7/12 4287 total posts
Name:
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Re: Housing prices
As a homeowner I'm pretty happy about it.
everyone is moving out of the city and wants a yard as we quarantine.
It is what it is.
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| Posted 12/14/20 4:16 PM |
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jellybean78
:)
Member since 8/06 13103 total posts
Name:
Mommy
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Re: Housing prices
Posted by valentinesbaby48
Posted by LastLightGlow
Posted by ave1024
Posted by Sash
Posted by ave1024
Don’t see prices going back down anytime soon. People have been talking about a Long Island “bubble” for 10+ years now. Hasn’t happened. Id say anything west of say Smithtown/Commack area is likely not to drop.
Maybe the Far East of Suffolk might see a slight dip only because it ballooned out of proportion. But even that is stretching it.
And you can’t compare NJ to Long Island either. Two different markets.
I’m not comparing the two but eventually you will see the market being effected everywhere, even in precious LI. My point was it already started in NJ and it will follow in the rest of the tri state area. I live in an area where all the wealthy NY’ers moved to, so the market isn’t much different than NYC. Or I guess my friends in real estate don’t know what they are talking about.
Also just like people went out east to LI, a lot of people went down the shore as well. Same thing.
I'll believe it when I see it (in Long Island). Maybe there will be a dip off the 17% increase we saw in the last 8 months just because that spike was simply panic buying at it's finest.
But the bottom line is the upward trend on average for Long Island will continue to move upward. People have been complaining about housing bubbles for years. Do a search on this website, i can pull post after post of people claiming there is a bubble and housing will go down. Has it yet? Nope.
What about the housing bubble of 2005/2006? This affected many of my friends and family very badly. My Grandmother’s house depreciated about 75k in those years. Prices downtrended for a good 6 years before they stabilized and creeped up again. I purchased my first home after the bubble burst and got a great deal. A lot of people lost a lot. Who knows for sure if it’s to happen again currently but I wouldn’t take the chance right now if I could wait.
My house can sell at almost $300,000 more than I bought it and it is insane as there is nothing but living in NY that makes it cost that much.
Yup. I bought my house in 2015 and I can easily get $200K more if I sold now...maybe more since we did a bunch of renos this year. It's crazy.
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| Posted 12/14/20 4:48 PM |
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Re: Housing prices
Posted by jellybean78
Posted by valentinesbaby48
Posted by LastLightGlow
Posted by ave1024
Posted by Sash
Posted by ave1024
Don’t see prices going back down anytime soon. People have been talking about a Long Island “bubble” for 10+ years now. Hasn’t happened. Id say anything west of say Smithtown/Commack area is likely not to drop.
Maybe the Far East of Suffolk might see a slight dip only because it ballooned out of proportion. But even that is stretching it.
And you can’t compare NJ to Long Island either. Two different markets.
I’m not comparing the two but eventually you will see the market being effected everywhere, even in precious LI. My point was it already started in NJ and it will follow in the rest of the tri state area. I live in an area where all the wealthy NY’ers moved to, so the market isn’t much different than NYC. Or I guess my friends in real estate don’t know what they are talking about.
Also just like people went out east to LI, a lot of people went down the shore as well. Same thing.
I'll believe it when I see it (in Long Island). Maybe there will be a dip off the 17% increase we saw in the last 8 months just because that spike was simply panic buying at it's finest.
But the bottom line is the upward trend on average for Long Island will continue to move upward. People have been complaining about housing bubbles for years. Do a search on this website, i can pull post after post of people claiming there is a bubble and housing will go down. Has it yet? Nope.
What about the housing bubble of 2005/2006? This affected many of my friends and family very badly. My Grandmother’s house depreciated about 75k in those years. Prices downtrended for a good 6 years before they stabilized and creeped up again. I purchased my first home after the bubble burst and got a great deal. A lot of people lost a lot. Who knows for sure if it’s to happen again currently but I wouldn’t take the chance right now if I could wait.
My house can sell at almost $300,000 more than I bought it and it is insane as there is nothing but living in NY that makes it cost that much.
Yup. I bought my house in 2015 and I can easily get $200K more if I sold now...maybe more since we did a bunch of renos this year. It's crazy.
You watch these house shows on TV and see what you can get for the same amount of money and wonder why we even stay here.
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| Posted 12/14/20 5:20 PM |
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