The Pros And Cons Of Where You Live

[benjie1305]

State or city?

I mean City.

To be more precise I mean neighborhoods with backyard living while working in the City.

So Long Island, various parts of Jersey and Connecticut. Personally, I know many examples living out in Long Island.

[Dan]

For $107k with a 20 minute commute?

[benjie1305]

For $107k with a 20 minute commute?

Not for $107k but salaries in NYC are different as well. And of course the commute is different. But you get used to it

and - at least I do - can use the commute efficiently.

[Yehoshua]

For $107k with a 20 minute commute?

Definitely possible in MKE.

[Dan]

MKE doesn't have the restaurant, shul, and school options that CLE has.

[Yehoshua]

MKE doesn't have the restaurant, shul, and school options that CLE has.

True, it has its own shuls, free schools and sometimes a restaurant.

[Dan]

That's a very far cry from what Jewish options there are in CLE.
It's really booming here now, new families moving in every week. Never seen anything quite like it.
Plus new restaurants, kosher grocery stores, shuls, kollels are all being built to accommodate.

[A3]

True, it has its own shuls, free schools and sometimes a restaurant.

Add to the wiki

[Yehoshua]

That's a very far cry from what Jewish options there are in CLE.
It's really booming here now, new families moving in every week. Never seen anything quite like it.
Plus new restaurants, kosher grocery stores, shuls, kollels are all being built to accommodate.

Maybe. How free are schools again?

[Dan]

There's a $4,250 annual state voucher per kid if you live in UH or CH regardless of income.
Nursery starts at $4k and full tuition for elementary starts at $8k before vouchers or income based breaks.

[Zevi16]

Im constantly hearing good things about Cleveland. (from the kollel perspective) I'm feeling it more and more now. I may be one of those families.

[ChAiM'l]

Im constantly hearing good things about Cleveland.

Aren't we all...

[Zevi16]

Aren't we all...

I mean off ddf

[CS1]

MKE doesn't have the restaurant, shul, and school options that CLE has.

CLE probably has better winter weather, too, correct?

[@Yehuda]

I know it's been discussed here before, but the more we talk about it, the more we realize it takes a lot to move to a place where one doesn't have family or existing friends. While my wife would love to live out of town (and I'd be down for it), and while I would love to live somewhere that's warm and sunny most of the year, we just can't come to grips choosing city like Phoenix or one of the cities in Texas when it means not being near either of our families.

^My random input of the day,

[Ergel]

Yeah yeah, see my post towards the beginning of this thread for the reasons people won't leave NY

[aygart]

A friend of mine told me how his father bought a house in CLE back then for 10k while his uncle bought in BP for 100k (made up numbers). All the years his father was joking with the uncle about the cheap house in CLE. Now his uncle sold the BP house and has a million plus retirement fund while his father only has 150k.

[Dan]

So the CLE house appreciated at a greater % rate, you just needed to buy 9 more and rent them out at CLE's sky high rental rates to achieve a far better overall investment...(Yes, the smart ones here do exactly that)

[aygart]

So the CLE house appreciated at a greater % rate, you just needed to buy 9 more and rent them out at CLE's sky high rental rates to achieve a far better overall investment...(Yes, the smart ones here do exactly that)

as I wrote they were made up numbers.

[Dan]

as I wrote they were made up numbers.

The concept still applies. You'll do way better by taking the same million dollar investment and buying 9 houses in CLE and renting out the extra houses at rates that far exceed the mortgage than by buying a single $1MM house in Brooklyn and seeing what it's worth in 30 years.
See also: http://money.cnn.com/2016/05/06/investing/how-i-bought-house-age-25/index.html?category=investing