It's a bit of an aborition.
Limited land, close to NY, demand from the outer boroughs to live there, but high RE taxes, tight household budgets and little saving seems to be an issue?
2007-03-18 16:05:38 · 2 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
Long Island especially Nassau County has very high property taxes about 2-3% of the property value with increases every year. I am an appraiser and do alot of work in Long Island and Queens. Nassau County is concerned about the affordability for first time homebuyers (the high prices and the property taxes). The working class neighborhoods are definitely feeling the pinch of a downward housing market. Inventory is high pushing prices downward. I have seen homes that sold in 2005 take a loss or at best break even in 2006. On the flip side though the high end neighborhoods are still increasing and hold their value.
2007-03-18 16:40:44 · answer #1 · answered by tianaramal 4 · 0⤊ 0⤋
As you have said, people move to a location for convenience.
If it puts a strain on your budget and isn't practical, I would side step to a different location.
Besides, with a strain on your budget, how can you afford to do the enjoyable things in life?
2007-03-18 16:18:19 · answer #2 · answered by themligroup_com 2 · 0⤊ 0⤋