Great article in New York Times

About the Long Island housing market.

Re: Great article in New York Times

what did it say?

Re: Great article in New York Times

Basically talking about how the market on LI is forcing young people to live- and just b/c people have $$$ on paper b/c of increasing home values, it is difficult to stay on LI b/c of taxes- and that taxes are only increasing b/c there aren't a lot of people on LI who can afford it - so they are leaving the tax burden on people who can stay there- and that older people, who have $$$ houses cannot afford the burden of paying tax and services on their houses on retirement income... LI based companies are having a hard time keeping people b/c of the expensive housing costs- once people try to buy a house they wind up leaving...
That zoning is screwed up b/c doesn't allow rentals and that is also a problem in terms of keeping workers in LI b/c there is a housing shortage.

Re: Great article in New York Times

Here is the link:

http://www.nytimes.com/2005/11/06/nyregion/nyregionspecial2/06libubb.html

Re: Great article in New York Times

Thanks for the link. We were just discussing this in my Economics class today.

Re: Great article in New York Times

It's pretty scary to think about. Taxes wise I mean. With the baby boomers becoming closer and closer to the age where they can get the drastic tax deductions what's going to happen to our taxes? When I say drastic, my grandmother pays less than 25% of what a non elderly resident would in her house.

If "W" gets his way and gets the mortgage tax deduction taken away and our property taxes suffer the way the article suggests we are going to have to leave.

I often wonder about certain things like how are our volunteer fire departments are surviving? We worked and saved for so long to buy a house that we are now in our 30's getting ready to start a family, we love this community but it's not where we grew up. We looked into joining the local fire dept but we just can't put in the time needed in the beginning to do it. So many young couples and recent grads leave I'll bet we see major changes in many services like the volunteer fire depts.