How do people afford houses in places like NY, Cali, and other expensive areas?

Hangout GupShup Cafe
101

Re: How do people afford houses in places like NY, Cali, and other expensive areas?

ahhhhhhhhhhhhhhh i was not sure whether u meant 30 years until u can touch it or 30 yrs that you can defer it at most.
60K in 401K at 30 aint too shabby. keep at it, starting early has its benefits.

102

Re: How do people afford houses in places like NY, Cali, and other expensive areas?

When I said single life being expensive I didn't mean living in a kabootar khana and cooking ur own food at home with 3-4 ppl sharing. If you want to do that then you can live like that once you are married too and share the place with other families.

103

Re: How do people afford houses in places like NY, Cali, and other expensive areas?

I am doing SEP IRA along my 401K.......that give me the flexibility to trade with regular stock rather than mutual funds.

104

Re: How do people afford houses in places like NY, Cali, and other expensive areas?

Nice! Taking it out as a first time buyer doesn't have any penalty. But I'm assuming you already bought.

105

Re: How do people afford houses in places like NY, Cali, and other expensive areas?

OK......living in a kabotar khana is lot better than living on the roads........My first job paid me 65K which is not a bad start according to the average. If I had an apartment to myself in the NYC/LA area, i would be looking at paying 2500 to 3500 in rent which would be 80-90% of my cash in hand. How would you expect me to live a decent life and save....this was when I was single. The only way was to share and bring your rent down to 500-700 per month. yeah...the other way out would be is living in a crappy high crime area which I beleive no desi would prefer.....don't know about you guys but..Bhai mere GMD to nahee hai

106

Re: How do people afford houses in places like NY, Cali, and other expensive areas?

Are you sure....I did not know that, i thought you were charged 10% penalty if I took it out before hand.

107

Re: How do people afford houses in places like NY, Cali, and other expensive areas?

That's what I was talking about, if you really want to save its a different story. If one wants to live a regular life (well, regular for me) one gets their own place going out for dinners, movies, parties etc, getting a nice car, taking vacations etc. All thats not cheap.

108

Re: How do people afford houses in places like NY, Cali, and other expensive areas?

If I remember correctly, the ones in Zainab market don't say "Made in Pakistan".

109

Re: How do people afford houses in places like NY, Cali, and other expensive areas?

depends of the level of income and what location you are in. certain areas have higher value due to location.

but in Long Island, sub-prime loan mess has really affected people, even if the house has 2 income holders, and now they are finding that due to the high interest rates their properties are going on forclosure. To get out of this mess, it is even more complicated because homeowners dont see a way out...and some of these homeowners have lost their homes.

I knw that in Long island, Nassau county is a prime location, accessibilty to the city, and more importantly great school districts (which is a reason for moving there)

110

Re: How do people afford houses in places like NY, Cali, and other expensive areas?

I wouldn't know :) Thank you for the scoop though.

111

Re: How do people afford houses in places like NY, Cali, and other expensive areas?

The mention of the "Made in Pakistan" tag was symbolic dude, get past it already!

112

Re: How do people afford houses in places like NY, Cali, and other expensive areas?

whats wrong with zainab market shirts anyway. snobs :rolleyes:

113

Re: How do people afford houses in places like NY, Cali, and other expensive areas?

Well, there's never any parking there for one.

114

Re: How do people afford houses in places like NY, Cali, and other expensive areas?

next time u are in teh area just slip some money to the guard at the caltex offices across the street. he will let u park your car in their visitor parking.

115

Re: How do people afford houses in places like NY, Cali, and other expensive areas?

koi haal nahi hai

the proper thing to do is to park on the street wherever you can find space, leave your hazard lights on, and run in to get those DKNY shirts

116

Re: How do people afford houses in places like NY, Cali, and other expensive areas?

u do that?

117

Re: How do people afford houses in places like NY, Cali, and other expensive areas?

That doesn't work, the budha tulla there is very fast, almost got my car towed once.

The caltex idea sounds good tho X2. A friend's sister used to work in the State Life bldg. so used to borrow her parking pass every so often.

Your best day at school
118

Re: How do people afford houses in places like NY, Cali, and other expensive areas?

maybe ;)

!! Mera Jee Chahta Hai !!
119

Re: How do people afford houses in places like NY, Cali, and other expensive areas?

I meant my city, I just saw a house for 270 k Euros, 2 stories, with garage, garden, basement, terrac ect..
But normally u can get a decent house for over 300 k euros.
I dont know about properity taxes, will have to ask my sis, she has a house.
BTW eastern europe is a HOT place now. In some places properity is higher than us.

GS drama serial "kahani thread thread ki"
120

Re: How do people afford houses in places like NY, Cali, and other expensive areas?

what country are you in? aren't property taxes a national and not a city issue?
eastern europe is hot, some areas liek moscow are going through the roof, others have benefited a lot as ppl from there are working in western europe and buying property, also financing options have opened up, similar to what happened in pakistan. The sustainability of those prices is an issue just like it is and will be in Pakistan.

Alhumdulillah, been a homeowner for almost 7 years. No plans to move to eastern europe at this point. south america on the other hand..well.