Author Topic: The Future of Lakewood  (Read 582888 times)

Offline churnbabychurn

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Re: The Future of Lakewood
« Reply #300 on: June 26, 2016, 12:00:21 PM »
Lol, too often, the mansion is the reason why they aren't millionaires.  :)
Even amongst the non mansions, because of the RE balloon, there are many on-paper milionairs...

Many ppl in Lakewood got into homes at ~400k + own one as an investment, and they have now appreciated so much that they are worth way more than 1MM (Net)

Offline Super Speed

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Re: The Future of Lakewood
« Reply #301 on: June 26, 2016, 12:01:49 PM »
1. Million dollar home does not necessarily mean a million dollars net worth.
2. There are probably more than 10,000 families in Lakewood so 20% of that would be at least 2k millionaires. Which is far higher than your estimates.
Just FTR there are probably closer to 20K families in Lakewood.

Offline churnbabychurn

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Re: The Future of Lakewood
« Reply #302 on: June 26, 2016, 12:02:07 PM »
1. Million dollar home does not necessarily mean a million dollars net worth.
2. There are probably more than 10,000 families in Lakewood so 20% of that would be at least 2k millionaires. Which is far higher than your estimates.
Ok, even if I trim my number to a more realistic 10%, it is still way higher than the rest of the country bh

Offline Aaaron

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Re: The Future of Lakewood
« Reply #303 on: June 26, 2016, 12:14:57 PM »
Ok, even if I trim my number to a more realistic 10%, it is still way higher than the rest of the country bh

You think Lakewood has more millionaire households per capita than all other frum communities?

Offline churnbabychurn

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Re: The Future of Lakewood
« Reply #304 on: June 26, 2016, 12:33:57 PM »
You think Lakewood has more millionaire households per capita than all other frum communities?
Dunno.
It's definitely one of the most entrepreneurial of the frum communities... similar to Willi and bk.

Very different than the OT communities where ppl are happy with a nice proffesionl salary



Offline Aaaron

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Re: The Future of Lakewood
« Reply #305 on: June 26, 2016, 12:35:27 PM »
That's certainly true.  I think a of communities have shifted to less 9-5 positions and more entrepreneurial pursuits though.  Especially the most recent generation.

Offline yuneeq

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Re: The Future of Lakewood
« Reply #306 on: June 26, 2016, 03:03:35 PM »
Dunno.
It's definitely one of the most entrepreneurial of the frum communities... similar to Willi and bk.

Very different than the OT communities where ppl are happy with a nice proffesionl salary

Very true.
Lakewood has a lower cost of living than most communities and less professionals/college graduates than (most?) other frum communities. All that adds up to higher rates of self-employment/entrepreneurship.
Visibly Jewish

Offline churnbabychurn

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Re: The Future of Lakewood
« Reply #307 on: June 26, 2016, 03:25:44 PM »
Very true.
Lakewood has a lower cost of living than most communities and less professionals/college graduates than (most?) other frum communities. All that adds up to higher rates of self-employment/entrepreneurship.
And the successful entrepreneurs are millionaires

Offline Crazy tools

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Re: The Future of Lakewood
« Reply #308 on: June 29, 2016, 06:24:36 PM »
http://www.app.com/story/news/local/communitychange/2016/06/26/lakewood-goes-luxe/85952252/

Finally a positive article about Lakewood.
They're bipolar, one day the whole Lakewood is on food stamps the next day we're all billionaires!
Starting to think that the app wrote this article cuz they new this fbi raid was coming and needed to write a positive article before the storm, this way avoiding all the people that say they only say bad stuff...

Offline username

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Re: The Future of Lakewood
« Reply #309 on: June 30, 2016, 09:32:45 AM »
http://www.app.com/story/news/local/communitychange/2016/06/26/lakewood-goes-luxe/85952252/

Finally a positive article about Lakewood.
They're bipolar, one day the whole Lakewood is on food stamps the next day we're all billionaires!
...but I would take anything a tax assesor says with a large box of salt!
^^^

Offline Crazy tools

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Offline rs242

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Re: The Future of Lakewood
« Reply #311 on: July 01, 2016, 02:19:25 AM »
Wyvr, AK really has to stop touting stuff THIS as the success of BMG.

It is so distasteful and wrong.



http://s000.tinyupload.com/?file_id=03060441258294997005
"This"??

Offline churnbabychurn

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Re: The Future of Lakewood
« Reply #312 on: July 06, 2016, 11:38:06 AM »
How do you explain the 6+ Duplexes for rent available in cedarwood hills?

Is this investors who cannot sell, or buyers who cannot afford the mortgage?

Either way the bubble is confirmed imho.

http://masaumatan.com/MasaRentals.pdf

Online aygart

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Re: The Future of Lakewood
« Reply #313 on: July 06, 2016, 11:55:01 AM »
How do you explain the 6+ Duplexes for rent available in cedarwood hills?

Is this investors who cannot sell, or buyers who cannot afford the mortgage?

Either way the bubble is confirmed imho.

http://masaumatan.com/MasaRentals.pdf
Did you notice that none of them are available yet? The owner hasn't even closed on it.
Feelings don't care about your facts

Offline churnbabychurn

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Re: The Future of Lakewood
« Reply #314 on: July 06, 2016, 11:59:10 AM »
Did you notice that none of them are available yet? The owner hasn't even closed on it.
So?

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Re: The Future of Lakewood
« Reply #315 on: July 06, 2016, 12:08:55 PM »
So?
They are houses bought with the intention of renting them out at first. How does that show a bubble regarding sales?
Feelings don't care about your facts

Online HowYaDoin

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Re: The Future of Lakewood
« Reply #316 on: July 06, 2016, 12:10:21 PM »
They are houses bought with the intention of renting them out at first. How does that show a bubble regarding sales?
+1 and of course they list before they close, they want a tenant from day 1. Some people also buy with intention of living in basement at first, happens all the time in this town

Online cholent

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Re: The Future of Lakewood
« Reply #317 on: July 06, 2016, 12:15:10 PM »
How do you explain the 6+ Duplexes for rent available in cedarwood hills?

Is this investors who cannot sell, or buyers who cannot afford the mortgage?

Either way the bubble is confirmed imho.

http://masaumatan.com/MasaRentals.pdf
I agree there is a bubble, but this is far from proof. Every time a new development is built there are multiple units available for rent, as many people buy while planning to live in their own basements. The question is how many houses will still be available to rent there in a few weeks from now
Don't ask stupid questions and you won't get stupid answers

Offline Super Speed

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Re: The Future of Lakewood
« Reply #318 on: July 06, 2016, 06:23:15 PM »
There are also developers/investors who keep a few houses for themselves, which they rent out, and then they "break even" tax wise on the project.

Offline grodnoking

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Re: The Future of Lakewood
« Reply #319 on: July 06, 2016, 08:15:12 PM »
There are also developers/investors who keep a few houses for themselves, which they rent out, and then they "break even" tax wise on the project.
"Tax wise"?
I'm not who you think I am.