Thursday, May 29, 2014

Owning a home in Queens darn near impossible these days

From the NY Post:

“There are homes for first-time buyers, but you have to look around,” he says.

That’s what Ray DeWire and his wife, Brittany, both young middle-class professionals, recently did. They lived in Kew Gardens, where “we were having problems parking our car,” Ray DeWire said.

They wanted to stay in Queens, but “it was tough to find something in Queens,” namely, a one-family house at the right price and with the amenities that they wanted.

Jamaica Estates residents Mekale Jackson and his wife, Aisha, two young art-industry professionals with middle-class incomes, have a year-old daughter whom they want to grow up in a home. But it’s been rough.

“It’s a difficult environment [to buy in New York]. Queens is out of the question,” Mekale Jackson said. “You would have to pay $388,000 and then maybe more to fix up the house. We also want to find a home in a place where we are not going to pay for private school.”

It's ok, we know what you really mean. Let's continue:

One factor in the higher prices locally is that the supply of new units is not growing fast enough. Also, since the housing meltdown of 2008, it has become more difficult for many people to obtain a mortgage.

Another potential roadblock is the average down payment of 20 percent. That means the prospective New York City-area homeowner must have $97,225 up front. Obtaining a mortgage also requires an annual household income of just under $90,000, said.


JQ said...

howard beach has been hit with floods after every storm since Sandy and a regular house there is going for a million?Insane

the other boroughs must have the same's the new housing crisis,except if you run private equity firms.

Anonymous said...

Tell the Asians to stop being so racist when selling homes. My father (who is a white man) tried looking for a two family house. Everytime my father sees a house for sale in bayside (where he wants to stay), the Chinese Realtors give him a high price. After the house is sold (to Chinese people), my nosy father finds out that those Asians paid almost 100k less than what they asked for from my father. They all corner the market and they refuse to sell to any other race but their own.

Anonymous said...

If that is the correct address on the listing that is waterfront property and the house looks to be a rebuild that has had its elevation raised.

Anonymous said...

What a cheap, ugly piece of shit!

Why would anyone want to subject their kids to the public schools in Queens?

No one speaks proper English here anymore and they've lowered the bar on the quality of teachers.

The smart people are in Brooklyn or Westchester.

Anonymous said...

Open borders will do that every time.

It is impossible to satisfy an infinite demand.

Anonymous said...

They all corner the market and they refuse to sell to any other race but their own.

Gee, you think city council would do something about this but then, it would impact campaign donations from the same parties.

Anonymous said...

Anon #2. Had the same experience.

I actually considered it a favor. I took it as a warning sign that the area was going to be turned into asian shit, and i looked and bought elsewhere.

Anonymous said...

They all corner the market and they refuse to sell to any other race but their own.

Remember, only white people can be racists. Other groups that act discriminatory are excused because "its just their culture and traditions, and you have to be sensitive to that"

Anonymous said...

This is why development is necessary — there's a market for it.

Anonymous said...

Anonymous said - Why would anyone want to subject their kids to the public schools in Queens. WTF? The schools in the whole city are equally good and/or bad. That remark made no sense.

Anonymous said...

Ummm how about going to a real estate agency not run by Asians there are quite a lot in Queens. I'm sure they will let you purchase a home if you are pre-approved. Also "For Sale By Owner" signs are great to look for as well. Don't give into and let anyone win. :)

Anonymous said...

To the person who found out that an Asian buyer was given a lower price for the same property: go talk to a lawyer about housing discrimination. You may have a solid case and cost these racists a solid chunk of change.

Anonymous said...

To number 2,

It's not that they are being racist.
Why the f-k will you want to sell at a lower price. Asians aren't stupid. They love to make money and careless if you are purpose. The reason why they don't sell to you can be any of the following reasons

1) They know asian have CASH and some will pay all cash. Ok, maybe that's a bit racist, but then if you have to borrow from a bank, they have to potentially wait 45 days and might not have a closing due to you not getting a loan and have to start all over again. So tell me, if you want guarantee for 100k less or 100k more for no guarantees

2) Number then can lead to this number 2. Some of them are buy and sell investors, they want cash fast, so you have to wait for 45 days, while someone comes in all cash in 10 days. bam.

3) 100k is OFF RECORD. remember the buyer is ALL CASH. So the seller might get MORE than 100k CASH under the table .. so if you were thinking of getting 800k and on record you see 700k, you will be like wt-f.. but you shouldn't feel that way.. because they might've actual sold if for 820K or more.. that 120K is cash that you nor anyone will see except the seller. They aren't being racist at all, If you are black and can do that, well, they will talk to you, BUT the thing is will they trust you to hand over 120k cash just before or on the day of closing. You see TRUST is the word. (I have friend who works in law firms as paralegals)

4) They are purely racist and the realtor doesn't know how to communicate with you and think you don't have money.