How is NY affordable?

Petra

Wed, Apr 03 2019, 5:19 pm

Okay, I'm not from NY but it sure would be nice to have all those amenities. So, I'm looking online at real estate for sale in Midwood, Brooklyn.

Seriously? I have a good job and would never be able to afford those prices. $1M?

How do people do it?

simba

Wed, Apr 03 2019, 5:21 pm

It’s not. We are all drowning. The convenient Jewish life comes at a high price.

amother

Crimson

Wed, Apr 03 2019, 5:28 pm

Somehow when you're born here you learn to adapt. But we work ourselves to the bone. Though I think we'd do the same anywhere else. Salaries are less elsewhere just like housing is less. You just get more space for your money.

trixx

Wed, Apr 03 2019, 5:34 pm

They keep their 5 kids in a 2bedroom for as long as possible then they move out to Toms River, pomona, Lakewood etc
That's the middle generation, the younger ones might just be having less kids

amother

Tangerine

Wed, Apr 03 2019, 5:34 pm

Who said it's affordable? The only semi affordable option is to move to a suburb of NYC so you can commute and get a NY salary, but cheaper housing. Most young families get priced out of living in NYC. NYC is cheaper than most other US cities when it comes to tuition in right wing schools, and kosher food shopping. But the overall cost of living is high.

HonesttoGod

Wed, Apr 03 2019, 5:40 pm

It is completely un-affordable and impossible to live the american dream life here ie: tuition, house, car, etc.

ectomorph

Wed, Apr 03 2019, 6:05 pm

Unless you earn 300k+ a year, it's not affordable at all.

amother

Firebrick

Wed, Apr 03 2019, 6:22 pm

OP, not everyone owns a house. There are probably more renters than owners.

honeymoon

Wed, Apr 03 2019, 6:30 pm

amother wrote:

OP, not everyone owns a house. There are probably more renters than owners.

So you spend your last dollar monthly on a house that's not yours. Hardly a sustainable lifestyle.

Living in NY is hell expensive and impossible to afford, unless you belong to the upper echelons of society financially.

amother

Firebrick

Wed, Apr 03 2019, 7:03 pm

Also keep in mind that many many people in NY, especially in Brooklyn have food stamps, Medicaid, section 8, headstart, vouchers...even though they're not legally eligible.

amother

Burgundy

Wed, Apr 03 2019, 7:08 pm

Rent stabilization, NYCHA Projects, winning an affordable rental in a lottery, section 8, Linc vouchers, etc are all ways that tenants can live comfortably in NY. Otherwise it is not affordable and you are better off buying a cheaper house out of town than an expensive overpriced house in NY that you have to renovate for thousands more.

ETA, I have been watching the market for a while now and houses are not selling. They are sitting on the market for months and owners are lowering the prices but it still doesn't help so I guess many people can't afford to buy in NY after all.

amother

Peach

Wed, Apr 03 2019, 7:10 pm

Well, op, I wonder the same thing. I do live in ny but dont own a house. Yes, im living in a smaller living space but the advantage of everuthing right here and less money on tolls/gas bec of public transportation...saves money.

I dont know how ppl with a house can afford a monthly mortgage plus water, heat....I do know that moving oot with lower cost of living but also lower saparies mostly evens out"" with nyc higher salaries and higher cost of living except that you get more living space if you commute from oot into nyc. However, commuting can be exhausting and "too difficult" depending on where you live.

amother

Denim

Wed, Apr 03 2019, 7:22 pm

amother wrote:

I live in those suburbs and we have really high taxes so it kind of evens out. Cost of living here is high for MO.

seeker

Wed, Apr 03 2019, 7:41 pm

Oh of course this conversation went straight to government programs... let's not harp on frum community and government programs here though because there are LARGE populations of other ethnicities who also theoretically should not be able to afford to live here.

First of all, it's not really affordable. A lot of people are struggling.

Secondly, most people don't own million+ dollar homes. Yes, renters pay through the nose to live somewhere they don't own. That's the cost of living in a desirable place.

Third, as others said, you tend to live in a much smaller space than would be normal anywhere else. Think 10 people in 2 bedrooms (with a couch bed in the living room I guess, and maybe an enclosed porch to make another nook.)

Tuition here, depending on the school, is significantly less than what I hear of out of town except in Lakewood. So if you have a bunch of kids, it would cost a lot more to school them elsewhere. Jobs tend to pay more, especially in certain fields (contributes to the high cost of living for some of the people paying for these services, but that's not your problem if you're on the earning end.) Your kosher meat and CY dairy and other "Jewish" products are much cheaper, again a boon for larger families. You don't really need a car because things are basically on top of each other, and public transportation is ample (though getting more expensive. But discounts for students, seniors, and disabled. And monthly passes.)

Family support means a lot, and I don't mean only monetary - emotionally plus things like if you live near your parents and siblings then you can trade childcare and meals and things like that that you'd pay for if you didn't live near them.

I think about moving out all the time and the balance sheet ends up similar both ways. I would have MUCH lower rent but also a much lower paying job, significantly higher tuition unless I move to a very specific location where there are tuition vouchers but even worse job prospects, no helpful family (could potentially make friends but not nearly the same) plus need to pay more time and money to visit family (for me personally it would be a very big difference in babysitting costs.) But I would still not recommend NY in general as a place to set up a home.

Sebastian

Wed, Apr 03 2019, 7:50 pm

if ppl. have children that need various therapies that can be expensive, living in NYC is really worthwhile. The city is very generous with services.

seeker

Wed, Apr 03 2019, 8:09 pm

Sebastian wrote:

if ppl. have children that need various therapies that can be expensive, living in NYC is really worthwhile. The city is very generous with services.

That's another good reason to live in NY. Doesn't make it more affordable though... just makes you tough it out because worth it.

trixx

Wed, Apr 03 2019, 8:10 pm

Sebastian wrote:

if ppl. have children that need various therapies that can be expensive, living in NYC is really worthwhile. The city is very generous with services.

Yes ik someone who was going to move but then gave birth to a child with special needs who needs services that only ny can/will provide

aliavi

Wed, Apr 03 2019, 8:47 pm

amother wrote:

Also keep in mind that many many people in NY, especially in Brooklyn have food stamps, Medicaid, section 8, headstart, vouchers...even though they're not legally eligible.

How is this so then?

honeymoon

Wed, Apr 03 2019, 8:50 pm

aliavi wrote:

How is this so then?

And the answer shall remain unsaid. We don't want another 32 page long thread with people biting at each other. Do we?

amother

Tangerine

Wed, Apr 03 2019, 8:53 pm

seeker wrote:

That's another good reason to live in NY. Doesn't make it more affordable though... just makes you tough it out because worth it.

Yes, it is a good point, and it's actually more affordable for some families to stay in NY- vs moving somewhere that they have to pay huge amounts out of pocket for the equivalent therapies. Also, the availability of Jewish schooling options outside the mainstream is dramatically reduced oot, and most places do not have the "sue the boe" workaround to make them financially feasible. So if people want to keep their kids in a Jewish framework it can be $$$$$.