Random Topics 3.1

[JayKay PE]

No roommates.  A ton of my friends are either married/struggling with their own housing issues or have left NYC/LI area for greener and cheaper pastures, and I don't feel comfortable getting a roommate that I don't know personally (craigslist roommates seem like...a bad idea).  I was contemplating moving back with my parents, because then I'd have a crazy influx of income, but them my commute would be an hour+ each way without traffic (and summer is coming on LI, where a 20-min commute turns into an hour).

 

[RBHeadge PE]

That's more than the mortgage on my house.  

ditto -well at least for a condo

@mudpuppy See if I can find a different state where apartments are a kinda normal price?@csb

So you're going to leave the Northeast? Y'know that the bagels suck the further you get from NYC and Philly right?

@mudpuppy@csb  And they keep mysteriously catching on fire the past couple of months...

That's what happens when they don't pay for protection.

My heart can't take this.  High rent/inability to save for a down-payment of around $100k is really putting me in the dumps today.  

Have you looked into FHA?

 

[JayKay PE]

Not sure if I want to leave the Northeast, just move outside of NYC/Long Island?  I'd be up for moving to another state or even moving upstate NY near the Finger Lakes area.  It's just really hard to plan/pay for student loans and be juggling a monthly rent payment that's more than most people's rent.  As for FHA...I am looking into it and am going to an info session, but I think I'd need at least 10-15k for the 3.5%, which would mean at least another year or two of apartment living to try and save on LI, and that would probably get me into one of the zombie houses around here that the bank refuse to let go into foreclosure.

As for the bagel situation...I have mailed bagels to family and friends multiple times in the past.  It might be my time to cash in and get some bagels sent to me.

 

[leggo PE]

So you're going to leave the Northeast? Y'know that the bagels suck the further you get from NYC and Philly right?

This. I miss east coast bagels so much.

@JayKay0914 wanna send me some? Or @vee043324?

 

[Dexman PE PMP]

$1500?  That's good enough for 2 weeks of rent here...

 

[JayKay PE]

$1500?  That's good enough for 2 weeks of rent here...

Ah, but is it 2-weeks in a converted garage with a hot plate?  Because I only want the best!

 

[Road Guy]

rents are so crazy, I believe its some type of collusion between developers and City politicians that want people trapped forever living in an apartment , paying never ending city taxes for everything, and never being able to generate enough personal wealth to buy a home, its all a trap! head to the burbs...

 

[JayKay PE]

^^These are rents in the burbs, unfortunately.  I'll just move to Maine and do something there, maybe, potentially, if someone hires me. 

 

[Road Guy]

maybe further into the burbs? farmland?

it does suck, I couldn't afford to by the house I live in know if I hadn't bought it 5 years ago.  But I would do whatever I needed to do to get off the rental bandwagon - its a racket -

 

[JayKay PE]

There is farmland around here!  And I could afford an apartment, since it's only $110 a month!  ...but then my commute would be a solid 2-hours one-way.  The unfortunate thing about living on an island is that there will eventually be an end to the space and then you fall off into the ocean.  

Yeah, I'm trying to get out of renting, but it's really hard when a large % of your take-home goes to it and there really isn't anything you can down-grade into (due to limited rental stock).  I talked to my parents and my dad was totally fine with me coming home for like a year, stock up money/pay down debt and make a choice then.  I just don't know if I want to buy on Long Island since the area is changing so much.  It's not as rural/farm country anymore and I can't see myself staying here.

AKA:  JK is having her midlife crisis.

 

[RBHeadge PE]

It's too early for a midlife crisis

 

[chart94 PE]

I am actually gonna be in long island for a conference on Monday. Any good food places/recommendations? i know it wont be as good as Chicago but...

 

[Booo]

There is farmland around here!  And I could afford an apartment, since it's only $110 a month!  ...but then my commute would be a solid 2-hours one-way.  The unfortunate thing about living on an island is that there will eventually be an end to the space and then you fall off into the ocean.  

Yeah, I'm trying to get out of renting, but it's really hard when a large % of your take-home goes to it and there really isn't anything you can down-grade into (due to limited rental stock).  I talked to my parents and my dad was totally fine with me coming home for like a year, stock up money/pay down debt and make a choice then.  I just don't know if I want to buy on Long Island since the area is changing so much.  It's not as rural/farm country anymore and I can't see myself staying here.

AKA:  JK is having her midlife crisis.

How is the housing market in long island now. Market here in greater Chicago seems to be moving down. So might be a good idea to buy in a year if its the same over there. 

 

[JayKay PE]

It's too early for a midlife crisis

Not if I'm only living to 60!  

@chart94 Where are you going to be on LI?  Depending on where you are, I can give a suggestion (because there are a ton of places around here, but I don't think you want to be stuck in traffic trying to get to them).

@NikR Housing market on LI is very, very, aggressive , coupled with a fairly high down payment needs to avoid PMI, it's why a ton of people are stuck in the renting cycle.  I'm hoping I can stock up money, if my parents do let me move back, but also help them out a bit (they're both retired/still in good health, but the house is going a little bit and I'd be able to help with my older brother who has autism).  Who knows?  Things might suddenly change in a few days for me, as in, I might get an offer to leave LI and live in the woods like I've always wanted.

 

[MA_PE]

Not if I'm only living to 60!  

well that's a pretty horrible thought.  Stop it.

 

[chart94 PE]

Not if I'm only living to 60!  

@chart94 Where are you going to be on LI?  Depending on where you are, I can give a suggestion (because there are a ton of places around here, but I don't think you want to be stuck in traffic trying to get to them).

@NikR Housing market on LI is very, very, aggressive , coupled with a fairly high down payment needs to avoid PMI, it's why a ton of people are stuck in the renting cycle.  I'm hoping I can stock up money, if my parents do let me move back, but also help them out a bit (they're both retired/still in good health, but the house is going a little bit and I'd be able to help with my older brother who has autism).  Who knows?  Things might suddenly change in a few days for me, as in, I might get an offer to leave LI and live in the woods like I've always wanted.

By the con Edison learning center on vernon boulevard area

 

[Booo]

@NikR Housing market on LI is very, very, aggressive , coupled with a fairly high down payment needs to avoid PMI, it's why a ton of people are stuck in the renting cycle.  I'm hoping I can stock up money, if my parents do let me move back, but also help them out a bit (they're both retired/still in good health, but the house is going a little bit and I'd be able to help with my older brother who has autism).  Who knows?  Things might suddenly change in a few days for me, as in, I might get an offer to leave LI and live in the woods like I've always wanted.

Yup. And it is difficult to out run the market. By the time you save up for down payment, you end up needing more. Hope it works out. But retired parents are always happy to have kids come over, so you go that going.

Good luck with the job offer. 

 

[JayKay PE]

By the con Edison learning center on vernon boulevard area

I mean, that's LIC, right?  Which my LI mentality does not believe is really Long Island.  BUT.  I had a job site around there at my old job.  Spice is amazing if you like thai food.  Blend has a really legit lunch menu, I love their ropa vieja.  Uhhhhhhh....  I think Big aLICe brewing is near Con Ed?  That was pretty good/the beer was really unique, and it's a little quieter than the other end.  Most of the places do grubhub/delivery, so you'll be able to get it from anywhere.

 

[Dexman PE PMP]

Before forcing yourself in the the house purchase rat race, you have to take a serious look at the math to see if it's worth it.

Between closing costs, agent fees, moving costs, etc against the gain in equity and rise in house values, Mrs Dex and I found that we would have to own it for at least 10 years just to break even (at least when we lived in Denver). If we planned on moving any more frequently than that, it was actually better to rent and put the balance into some type of retirement savings plan.

Additionally, and you're going to laugh at this, we spend less money on "stuff" because we rent. We know we're going to move fairly regularly (every few years), so we don't buy something unless we're comfortable having to move it later.

 

[Supe]

Sounds like a houseboat is the only solution.