Thinking of movint to Albany NY

[scott-sts]

My cousin fell for the "Live in the Poconos, work in NYC" thing.  15 years later, she has a mansion that she only sleeps in.  3 hour bus commute each way, every day.  
I remember Glens Falls, Lake George, Plattsburg, etc in the early 90's.  Holy sh*t, the recession was going full swing and those towns were DIEING.

Move to LI, we are all rich here.    

[Sport-Touring]

[Snowbird]

I guess there are trade offs to be made. Here where I live-- a rural area-- jobs are harder to come by, wages tend to be less as well. But, there are ways around that. A friend just bought a home on a few acres for 1.5 times her annual salary. Every exterior wall has lawn around it, not someone else's living quarters.

OTOH, if you can make ends meet in the city you stand a chance to make a killing on a residence, then later move to the country... so long as the real estate market doesn't collapse and leave you holding the bag.

I made my choice long ago to live in a rural area, work my way into a better paying job and have never regretted it. I will not commute. I will not sit in traffic. But I would consider a move part way south... near the Mason-Dixon Line.

Things like this rank among those difficult life choices.

[shah269]

My cousin fell for the "Live in the Poconos, work in NYC" thing.  15 years later, she has a mansion that she only sleeps in.  3 hour bus commute each way, every day.  
I remember Glens Falls, Lake George, Plattsburg, etc in the early 90's.  Holy sh*t, the recession was going full swing and those towns were DIEING.

Move to LI, we are all rich here.    

Yeah Glens Falls is still on its way down down down.
I visit my parents abut three times a year (yeah I'm a horrible kid, but I hate that town! A great place to grow up and DIE) and every time i visit its one notch lower. The only thing that's keeping that town going is Albany!
GE is on its way out, the pulp and paper industries are out or on their way out. My old engineering company Ahlstrom left.

[JRinNC]

Shah - before U jump upstate - Think eastern Pa - not sure where U work in NNJ - but as U can see by my name - I grew up in Bergen Cty (One of the most expensive housing markets in the country - before the market adjusted - slightly - a house on fire in my old town would run $500k)

I work near Newark Airport - travel about 70 mins. each way on I-78 - not too bad as I work early - so for the most part traffic is movin about 75 to 80.

Anywoo - there are new townhouses here for about $235k (2 to 3 bdrms)   Lower taxes - way lower car insurance

Good riding out here - with little to no PoPo + local LEO's can not use radar

Want more info PM

Hey I did that, oh 14 years ago and worked wonders for getting me divorced but at any rate, the 6 hours a day driving including the 4 hour commute both ways was NO FUN! I did for 8 years and it totaly sucked.

They also say that the Poconos is where marriages go to die (man out working in NY/NJ, wife gets bored and... ) so, be forewarned and good luck wherever you choose!

[crispiegee1]

In case any of you are wondering, $400k in Buffalo will buy you a modern (within last 10 or 15 years) 4,000 sq. ft. house.  If you want one of the stately mansions downtown, you might be able to do even less.

Right now, some guy in the suburb of Clarence is building himself a 17,000 sq. ft. house.  I think the cost will be something like $2.5M, which didn't seem bad for such a giant place.

Buffalo salaries are not as high as elsewhere, but you can get a nice little 1400 sq. ft. Cape Cod house like mine for about $100.  (Mine would be more because I just put a $20k kitchen in, but the living expenses around here are very low compared with most places.)

Oh, and for riding, you're only 90 minutes from the PA line and nice hilly twisties.  

[scott-sts]

In case any of you are wondering, $400k in Buffalo will buy you a modern (within last 10 or 15 years) 4,000 sq. ft. house.  If you want one of the stately mansions downtown, you might be able to do even less.

Right now, some guy in the suburb of Clarence is building himself a 17,000 sq. ft. house.  I think the cost will be something like $2.5M, which didn't seem bad for such a giant place.

Buffalo salaries are not as high as elsewhere, but you can get a nice little 1400 sq. ft. Cape Cod house like mine for about $100.  (Mine would be more because I just put a $20k kitchen in, but the living expenses around here are very low compared with most places.)

Oh, and for riding, you're only 90 minutes from the PA line and nice hilly twisties.  

Buffalo isn't even considered New York.
The Median resale in Nassau/Suffolk is 410K with a median income of $92K (Family of four).  Everyone mentions salaries being different in different areas, do you know what the median is in Bufallo?

[shah269]

Buffalo isn't even considered New York.
The Median resale in Nassau/Suffolk is 410K with a median income of $92K (Family of four).  Everyone mentions salaries being different in different areas, do you know what the median is in Bufallo?

1 bucket of chicken wings
4 Sabers tickets
and 4 Bills tickets!
Nah Buffalo isn't bad, crashed there for two years of school.
Nice but DAM COLD!
What it summer like two days long over there!

[Snowbird]

The Median resale in Nassau/Suffolk is 410K with a median income of $92K (Family of four).

How in hell would anyone be able to make ends meet at those prices and salaries?

Hey, Shah. Let me suggest going to a library and finding a copy of Rand McNally's Commercial Atlas. Very revealing maps inside detailing income and other things you ought to see before making a move. The maps show the entire country, county by county and you can see where the money and costs are... then apply geography for motorcycling goodness.

[scott-sts]

How in hell would anyone be able to make ends meet at those prices and salaries?

Hey, Shah. Let me suggest going to a library and finding a copy of Rand McNally's Commercial Atlas. Very revealing maps inside detailing income and other things you ought to see before making a move. The maps show the entire country, county by county and you can see where the money and costs are... then apply geography for motorcycling goodness.

The National average is 45K.  I don't understand your question.

[Snowbird]

How could a family of four afford a $410 house on $92k annual income? Why would they even try?

[scott-sts]

How could a family of four afford a $410 house on $92k annual income? Why would they even try?

Ask someone from California how they do it?
It doesn't seem any different from having to pay 245K for a house with a 40K income to me.  

[shah269]

How could a family of four afford a $410 house on $92k annual income? Why would they even try?

I know a few people in Banking and you won't believe what these scum bucket bank CEO's are counting on to make their millions!
They are actually hoping you forclose on your house! They don't care if you can't pay! They just want your house!
WHY?
Simple
You go and buy a house for $400k, but the book value is say $200k.
You forclose on the house they sell the house for $300K.
They turn around and declare a $100k profit!
And that's not including your payments towards that $400k house!
Now you can puke your guts out!
They want you to be out of a house and home!
Some one some where some how sold out the middle class!
This is nuts! It wasn't too long ago that the average well educated Joe could buy a house when he was 30 on a single income!
So we are either forced to move to places wer don't want to live really or dive 3 hours each way to and from work!

[Snowbird]

Ask someone from California how they do it?
It doesn't seem any different from having to pay 245K for a house with a 40K income to me.    

..nor to me. But, not for me.     Perhaps that's why so many people get into credit card trouble.

Consumers always seem to forget one thing: it's their money until the business bends over backwards to get it out of your pocket.

[satz]

Even though it looks like alot of angry people live in region 6 , remember most are from NY.

I do not get this 410 on a salary of 92k[4 people] are all the 4 people making 92..

[crispiegee1]

Even though it looks like alot of angry people live in region 6 , remember most are from NY.

I do not get this 410 on a salary of 92k[4 people] are all the 4 people making 92..

I guess that's why I'm not angry - Scott-STS just told me that Buffalo isn't in New York State!    (Said like a true downstater, Scott!)

To add further insult to injury, Scott beat me to the joke I was going to make (bucket of wings, etc.).    

By the way Satz, the median income is per household, so that means that your 4-year-old is not making his own $92k.  That's $92k for all four people.

I'm not sure what the median salary around here is... probably low-forties, but it depends on what you do.  My job pays nicely and I try to spend conservatively (although I did a lot on the house this year).  I'm not going to rush out and buy a new Ducati, but if I didn't have a fancy car, I could.  (Why did I buy that barge anyway??)

[TWI]

Yah mate I work just outside of Dover on Rt-80. ....

Thanks for the laugh -- you are so right about your description of people.

I put up with an hour commute each way for some 10 years, but I knew why I did it:  A good place for my sons to grow up and good schools.  Now I live where my commute is OK and things otherwise are good.

This past Spring I visited the Albany area for the first time.  Heck, I'd move there if it weren't for the snow.

[scott-sts]

I guess that's why I'm not angry - Scott-STS just told me that Buffalo isn't in New York State!    (Said like a true downstater, Scott!)

To add further insult to injury, Scott beat me to the joke I was going to make (bucket of wings, etc.).    

By the way Satz, the median income is per household, so that means that your 4-year-old is not making his own $92k.  That's $92k for all four people.

I'm not sure what the median salary around here is... probably low-forties, but it depends on what you do.  My job pays nicely and I try to spend conservatively (although I did a lot on the house this year).  I'm not going to rush out and buy a new Ducati, but if I didn't have a fancy car, I could.  (Why did I buy that barge anyway??)

 :lol:Remember all those Superbowl games Buffalo didn't win?  You think us downstaters were saying "Jim Kelly, he's our boy"?  

[satz]

Cool i should not feel bad atleast living down the road from all the superbowl trophies in the razor.

Intresting how some one can afford a 410k with 3 more mouths to feed at 92k.I on my own make so much without adding the wifes and we are looking at townhouses art 275 mark as houses from a affordability point.Do all 4 eat raman noodles .

[shah269]

But you know what gets me really worried.
OK I'm a mechanical engineer pulling in about $70odd K.
The entry level home here in N-NJ goes for about $350K.
My wife works at a local bank and she makes another $25K.
So that puts my buying power just under the $300k mark. So I'm a little short.
That's why I'm wokring hard and doing my best for a promotion which would put me in the mid to low $80K mark.
So yeah OK if all goes well I can afford a house here in NJ. OK it may not be the best house, nor the house I want,
but still a house.
When my wife finished up her education and gets a job my buying power could double if gets a half way decent job.
So my future isn't so dark. And maybe one day if I stay here in  N-NJ I'll have enough money to buy a nice little house for my self and my wife.
But how about those who didn't go to university? who aren't professionals? What about them?
Not every one can be engineers, business men, doctors or what not. What about them?
They don't stand a chance in hell! Think of it! They can work all their lives and never have the funds nor the buying power to actually own their own home!
And I don't care what those crooks in DC say, in my book if you can afford to safely own a medium priced home in your state with out one of those slick dirty loans then you are middle class. And based on that bit of logic, I'm just barely middle class.
What has this country come to?

[scott-sts]

Cool i should not feel bad atleast living down the road from all the superbowl trophies in the razor.

Intresting how some one can afford a 410k with 3 more mouths to feed at 92k.I on my own make so much without adding the wifes and we are looking at townhouses art 275 mark as houses from a affordability point.Do all 4 eat raman noodles .

It is what it is.  I paid 236K for my house and I almost hit the floor when the first mortgage payment was due.  Now it feels like nothing because compared to the current 410K median price, it is nothing.
My house has doubled in value in 4 years.  If you bought a 500K house a year ago, it's actually worth less today.  That pretty much sucks.
As for sticker shock, IMO you should have bought the 275K Townhouse.  Waiting for prices to drop, rates to go down, etc doesn't help you achieve your goal.  
There are people in Tribeca that paid 300K for an 1100 sq ft apartment back in 2000 that are sitting on 800K today.  I bet they are happy they didn't "Wait".  
As for affordability, I suggest you do the math.  It is easy to get a mortgage for 50% of your net income.  What difference does it make if it's half of 92K or 42K?