Archive for February, 2010
The Cost Of Living The Cost Of New York
Economists in the government are some of the most callous people in the world. When calculating inflation they take out changes in food and fuel in order to stabilize the monthly and annual inflation numbers. The numbers in this core index are then bandied about across the media as the true inflation rate.
That may work well and fine for your favorite international corporation operating out the local Death Star but for regular people food and fuel are some of the biggest parts of their budget. Hence the disconnect between the low inflation numbers in the media and your wallet that seems to magically eat a few extra twenty dollar bills each week.
The situation in the country as a whole is getting pretty crazy especially as oil prices start to nip at the heels of the embargolevel prices of the 1970s. But here in New York City the cost of living is getting almost surreal.
Another quick lesson in inflation: Like unemployment it is an incredibly regionalized phenomenon. Not only will prices vary from region to region but from city to city. There will even be large variances in the inflation rate of different neighborhoods of a city.
So as real estate prices food prices subway prices basically every type of price besides the prices it costs to employ someone… also known as wages continues to go up more and more people are getting priced out of the parts of New York City they want to live in. Indeed census data indicates that the cost of living in New York City has gone up an incredibly painful 90 in the last twenty years.
The largest part of that jump has come from housing which has increased 106 during that same time frame. With spending on residential building up about 14 this year alone more apartments are being built this year than last year but not nearly at a rate fast enough to keep up with the increase in demand especially in Manhattan.
So what’s going to happen? One is inclined to think that people will continue to get by like they always have. People might have to work a bit longer and commute just a bit longer but the city will look basically the same in thirty years as it does now.
It’s a funny difference:In most American cities the term inner city is associated with the poorest parts of an urban area. In Paris though the poorest parts are the outer suburbs that ring around the city. There are numerous reasons for this but one of the more important is simply that Paris has been around a whole lot longer than any American city.
The poor and even middle class are often priced out of the center of cities until that city center becomes the whole city and workers are
relegated to long commutes into the city and back out again at night.
My suggestion? It may be expensive now but it’s only going to get more expensive. So if you want to live in Manhattan or any other central part of New York City as crazy as it sounds now is as good as it is going to get. New websites like CityCribs.com makes the process of finding a New York apartment much easier than it used to be.
About the writer: Lance Mohr is your Tampa real estate expert with over 10 years of experience and 15 years of investing. Please visit our Tampa Real Estate website and add our Tampa real estate blog to your favorites section of your browser.
Snowmobile Safety
With winter just around the corner many people are getting their sleds ready for another great season of running the powder. Theres no better feeling for snowmobilers than gliding on a few feet of snow at high speed perhaps performing the odd stunt or two and generally taking pride in your machine. Thousands of people do it every year but every year many snowmobile riders are injured and even killed while they are out enjoying their sport. Its incredibly important to follow some very basic rules so that you can enjoy snowmobiling all season long and for the rest of your life; lets take a look at them.
Alcohol and sleds dont mix. There is no room for drinking and operating any kind of motor vehicle. Most snowmobile accidents occur when there has also been drinking involved and most people seem unwilling to believe that it could happen to them. In fact there are probably a lot of people reading this and thinking that they are fine when they have a few beers and then hit the trails. I will be blunt: this is ignorant and a selfish way to think. Maybe you arent worried about yourself and with that kind of attitude thats fine. But there are other people on the road and out snowmobiling and your decision to drink and ride could end up hurting or killing them. Save your pride for another occasion and save the alcohol for when the day is done and the snowmobile has been put away for the day.
Always perform maintenance checks on your sled. You should do a very thorough check of your snowmobile before the season begins and before and after every ride during the year. You dont want to be stranded or lose control because of a malfunction!
Tell someone where you are going. This rule is particularly important if you are going out in the bush. You might be going with a group but you never know what could happen and someone at home should know where you are and when you are planning to be back just in case an emergency situation arises.
Unless its really cold avoid ice! Frozen lakes are huge temptations for snowmobile riders. Its a huge clear expanse of snow perfect for tearing across. Lakes can be death traps though; a snowmobile is a heavy machine and will go through thin ice very quickly. Try to overcome the call of that lake for the sake of safety.
Of course there are many more rules that you need to follow when it comes to snowmobile safety but these are some of the most important as ignoring these specific warnings are what leads to 90 of snowmobile rider fatalities and injuries every year. Dont sled stupidly; its a piece of very expensive machinery your life the lives of others on the line!
About the writer: For those unfamiliar with the area look to an experienced Remax Midland Ontarioreal estate agent to find your next home or cottage The locals do and you should too!
Snowbirds – Planning The Maiden Flight
So retirement looms and the idea of being housebound in the winter for six months is not a pretty thought. And of course you have thought about all those people who just pack up and flee as the first snow flake flutters down and you have wondered….
How do they do it? Do they like it? How did they take the plunge? How could I take the plunge if I wanted to of course!
Well providing you own your own home the quick answers are: clever financing wise lifestyle choices being adventurous read on….
The answer to ‘how do they do it?’ will be left until later because first you have to make sure that you WANT to do it! Well the best way to find out is to tag along with a friend who does it but obviously many of us do not have anyone available.
If you have a car or an RV you could plan a tour of the ‘Snowbird States’ and see which appeals to you the most. These states are generally accepted to be Arizona California Nevada New Mexico Texas Florida and South Carolina. If you have a car you will find many bed and breakfast spots to overnight as well as hotels.
If you don’t want the expense of this the Internet will give you an overload of information start with Snowbirdhelper.com and you can pick out one place and fly there. Or if you are driving you can pick out a few places fairly close to each other and have a research vacation.
The question ‘do they like it?’ will probably be answered by how much research is done by each ‘wannabe snowbirder’ to track down the environment that is perfect for them. You may love the idea of spending winter in a warm place but may forget that you need to match your lifestyle choices to that place.
Do you want solitude and peace or do you want dancing and a social life or do you want recreational fun stimulating learning opportunities or endless golf? Ask yourself some serious questions before you contact a real estate agent who knows the answers!
For instance you may want to find a coastal area and buy a place on the beach or you may wish track a resort where you can park an RV or you may want to buy a small cabin high in the mountains or down in the desert canyons.
If you are planning to buy a property most people browse the Internet for an idea on prices; a good real estate agent in the area of your choice can advise you about regional concerns and advantages amenities and climate. He or she will also be able to email you details of homes before you arrive.
If you are planning to rent or buy or bring your own RV to a resort then you can find much of the resort information on the Internet.
Let’s suppose you have a place in mind: next is the financing. This can be easy for those lucky people who have spent all their life paying off the mortgage. The answer is a reverse mortgage. A reverse mortgage will let you give yourself a loan without making any payments back. It is like a line of credit that is secured by your original home.
With this money you can buy a property for cash which puts you in an excellent bargaining position. If you leave the line of credit on your original home for the rest of your life the bank will pay it off and give the balance of the house to the ‘estate’ along with your paidup snowbird home.
You may even choose the option of renting your home for part of the winter to help to pay down your reverse mortgage. Some snowbirders find that they want to spend Christmas with the family so do not leave until January 1st each year. In this case you could rent your home out from October to December.
But either way you can now join that happy bunch of people who never get a wheezy cough or feel an arthritic twinge because you can choose to always be in the warm!
About the writer: The Affinity Group is a prominent name in Denver real estate with agents specializing in working with both buyers and sellers of real estate throughout the Denver area. Visit JakeMarsh.com for details about their services property listings and information about their service areas like Stapleton real estate.