I recall in the late 60s riding along the LIE an seeing signs for $8,999 homes in Syosset, etc.
Imagine a time when a normal income could actually afford a house. Seems like a kind of alternate universe.
10
So half normal houses cost a million. What went wrong?
7
The 10 thousand a month taxes on the Riverdale property MUST be a misprint. Is it?
1
I fail to believe that taxes for the 2 family property in the Bronx/Riverdale are $10,138 per month! Please check this!
5
The NY region is not worth what one has to pay to purchase or stay with taxes; it is finished thanks to taxing socialist democrats in those states. They have ruined the area. Glad SALT will make them all have deficits; they deserve it. They crucified the taxpayer; they all moved to FL. Ha !
7
Not really, it just means the market will adjust algorithmically to homes in different price points. Prices will adjust down.
4
@Jan People have been saying this about NYC real estate ever since I moved here 30 years ago. And yet, every year, the real estate prices keep going up and people keep moving here. During that same time period, it's the small- to mid-sized towns in the heartland, rust belt, and flyover states that have de-populated. Maybe people are willing to pay more to live in a region that offers economic opportunity? Maybe low cost of living isn't enough of a draw to live in the Opioid States?
25
@Jan
This is a wishful thinking, in fact, people keep on coming to NY as this is still the center of many industries which are non-existent in other states. It is also still the most cosmopolitan city which has accepted all immigrants. I have lived here for 30 years and although, my written English is impeccable, I still have a slight accent. This has never caused an issue in NYC and my ear is also by now trained to completely understand may of my brilliant co-workers who came from other countries. The story is very different when I travel elsewhere in the States.
24
$10k a month in taxes in the North Riverdale?? Is that a mistake? Bronx property taxes are not Westchester taxes.
2
The last one has 48k in taxes?! On a 1.1mm house!?
4
Interesting to see what $1M gets you in the area. For a real jolt, look at the taxes at each home - all but one in the low to mid teens - $10K - $16K. Then look at Chappaqua. Same value home - taxes are $47K!!!
That's almost $1000 per week!!
I know it's lovely area, but how can you actually live there?
6
@Tom B
Guess what! If you live in a place like Chappaqua with great schools and lots of amenities, you pay for them with your taxes. If everyone paid their fair share of taxes, we would all be able to afford to live in towns like Chappaqua.
9
Susan, the truth is there are plenty of great towns with good schools, "amenities", and much much lower taxes. Statistics show mismanagement of funds at the administration level, overly generous pensions and out and out graft has bankrupted towns that couldn't tax their way out of holes. People have to get off of the "good schools" rant as an excuse for poor management.
10
@Tom B: It keeps out the riff-raff.
3