Author Topic: Cuomo says.."We give you a check and you move on. We take the property, Move on."  (Read 3796 times)

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Offline nycfunkart

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Does anyone out there think this could really happen, meaning the buyout?


•Doesn't it seem odd that at the lowest ebb of a market, the person with the most funds are making offers to buy?
•2 words "Eminent Domain" and we can just take a look at the house cut in half on ocean parkway to see how well that worked.
•On Zillow.com, Im worth nothing, well at least a lot less then I paid for the house.  I would get shafted, while my crackhouse across the road
(which is unlivable) would make out like bandits..


Im getting a real bad feeling that no matter what happens it is going to tie that 50 billion dollars up in a knot, for a long long time.



i don't think the buyout will happen. i've been sitting on the sidelines about buying property in LB for several years now. i am now willing to jump in and there are a lot of other (mostly cash) investors milling about. i just got a quote for flood insurance for ~$3,000 / year. that doesn't seem too steep. zillow is completely unreliable as far as "zillow estimates" having anything to do with actual market value.
 
i understand FEMA regs for where we are are about 14feet off the ground. i can't find good information, but LB may only allow 23 feet on top of that? anyone know? that should be enough for 2 stories, maybe with a flat roof / roof deck. my plan is to raise the house asap if i buy. we're only up about 3 - 4 feet right now and need to go up another 10.


Does the $3,000 quote include contents?

Offline Crackie Onassis

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Been thinking about this all day, as I have been home sick with not much else to do.

First, I see the governor's logic. To an outsider, it makes total sense. Heck, make me an offer and I'll go buy my Barbados retirement home tomorrow and rent a house in Belle Harbor until Bettina goes to high school. Jscott made the point about the projects etc that is on-point, so I don't see this as a peninsula wide proposal.

So, who would qualify?

Would it be limited to beach block folks? Beach-front folks? Beach-front above 120ish? Would beachfront second homes qualify for a buyout (I'm thinking the Bulgarian Embassy on B142nd)? To me, it would seem really messed up to give 2nd homes a buyout and not year-round folks in the middle blocks. Two NYs? The proposal raises more questions than it answers.
« Last Edit: January 25, 2013, 08:42:53 PM by Crackie Onassis »
So heavy you can't even pick it up.

Offline Ghost of WQ

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Been thinking about this all day, as I have been home sick with not much else to do.

First, I see the governor's logic. To an outsider, it makes total sense. Heck, make me an offer and I'll go buy my Barbados retirement home tomorrow and rent a house in Belle Harbor until Bettina goes to high school. Jscott made the point about the projects etc that is on-point, so I don't see this as a peninsula wide proposal.

So, who would qualify?

Would it be limited to beach block folks? Beach-front folks? Beach-front above 120ish? Would beachfront second homes qualify for a buyout (I'm thinking the Bulgarian Embassy on B142nd)? To me, it would seem really messed up to give 2nd homes a buyout and not year-round folks in the middle blocks. Two NYs? The proposal raises more questions than it answers.





Why stop there... why not give that 50 billion to the NY families who have lost a parent in Afghanistan/Iraq wars, or to the NY families struggling to pay for a child's cancer treatments or the people living in poverty within New York State?


How about just helping those who were not in a flood zone prior to the post-sandy update?


Owning a home is a luxury... a LUXURY. Not a necessity.


So some people/families took on more risk than they realized by choosing to live in a flood zone or on a sand bar. God forbid they have to move and rent a two bedroom apartment inland. Oh the horror...


Offline Northstreet

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The devil is always in the detail for buy-outs.  In NJ, the Blue Acres program works somewhat ok, but don't hold your breath for wide spread buy-outs. Perhaps some targeted locations but these things take more time than politicians are in office for or care about.   

Offline Crackie Onassis

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I don't know, Mr Quiver. That seems a bit of an overstatement. To me, owning a second vacation home on the beachfront is certainly a luxury but home ownership simply makes sense.

There are unique situations out there, but I'd rather build equity in something rather than cut a rent check every month. My mortgage is on par with the rent I paid for a 2br apartment just a few years ago.

So heavy you can't even pick it up.

Offline Northstreet

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Our Fed tax structure certainly encourages home ownership. 

Offline Årne Longbörgenssen

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Owning a home is a luxury... a LUXURY. Not a necessity.




those are the only two choices ?


that statement is kind of....moronic.
The energy contained in one kilogram of thorium
equals four thousand tons of coal

braden

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Owning a home is a luxury... a LUXURY. Not a necessity.




those are the only two choices ?


that statement is kind of....moronic.


I have not pursued home ownership in NYC yet, however, ...


to many of us renters who are not owners, it certainly does look like a luxury, especially in NYC where my financial existence is far more precarious than it would be elsewhere. Moronic? depends on which side of the coin (hehe) you're on.

Offline Årne Longbörgenssen

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luxury being defined as a state of great comfort or extravagant living, and necessity as one of of being required or essential, I challenge you to walk me through the logic of the statement. it certainly implies that owning property equates with great comfort and extravagant living, whereas renting is not, but somehow noble, and morally superior in its stoic avoidance of excess and adherence to that which is only essential.

is it even conceivable that a single renter might be flushing wads of cash down the toilet, on the way to immersing himself in his golden bathtub filled with champagne and caviar, whilst his thrifty counterpart gnaws on squirrel legs in the one room hovel he owns ?

oh no my friend, the statement is moronic, and full of sound and fury, and signifying nothing.

i suspect its just code for anger and resentment that someone has for people whom he thinks have more money than him. you wanna debate the morality of some people having more money and choice than others ? ok, go for it. maybe it will be interesting. but say what you mean, not illogical blibbidy blab.


(disclaimer: now in the... 11th?...week of exile from the shangri-la that i own, and from which i was formerly able to ensconce myself  in a cozy womb of hedonism and decadence as i laughed at the multitude of schmucks in the rentosphere, i, and much of my family, are sitting huddled in my mothers apartment(which she owns), in the pauses between bouts of diarrhea and vomiting most likely a result of a gastrointestinal virus. i believe this is a demonstration of the proverbial "last straw", and i may have now completed the journey to insanity. thus, i cannot be held accountable for my actions.)
« Last Edit: January 26, 2013, 04:40:19 PM by Årne Longbörgenssen, Reason: i was interrupted before by diarrhea »
The energy contained in one kilogram of thorium
equals four thousand tons of coal

braden

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umm, ok....
« Last Edit: January 27, 2013, 05:42:21 AM by braden »

Offline nydubstar

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this will never happen on a large scale for a variety of reasons, both economical and political...possibly in certain neighborhoods in NYC, but not on Long Island


« Last Edit: January 28, 2013, 06:26:01 PM by nydubstar »

Offline ankleslapper

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while homeownership is just about the most un-luxurious thing I've ever done, it made financial sense after 15yrs getting priced out of apartment after apartment, neighborhood after neighborhood.  trying to do it anywhere near nyc, it's been less about 'having the money' than 'prioritizing where any money goes.'  it is a choice, but I wouldn't call it a luxury.   
the A is a small price to pay

Offline PSYCHO

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Its all about Casinos peeps. 20 year plans got bumped up to now.

Offline 8million

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Offline sherwood

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Owning a home is a luxury? Never heard such crap.

After Sandy I think being a renter in Rockaway is more of a luxury. If it doesn't seem like it's going to return to a nice place to live, I can easily move somewhere else.