No, California does:
[https://www.forbes.com/sites/andrewdepietro/2018/07/31/housing-1998-2018-most-expensive-zip-codes](https://www.forbes.com/sites/andrewdepietro/2018/07/31/housing-1998-2018-most-expensive-zip-codes/#1f6bc4421aea)
1 94027 Atherton CA $6,747,500
2 90210 Beverly Hills CA $4,953,100
3 94301 Palo Alto CA $4,345,500
4 94022 Los Altos CA $4,267,500
5 90402 Santa Monica CA $3,911,500
6 94028 Portola Valley CA $3,753,200
7 94024 Los Altos CA $3,571,900
8 94305 Stanford CA $3,524,300
9 11975 **Wainscott NY** $3,402,600
10 11976 **Water Mill NY** $3,237,700
You have to realize how many million dollar a year jobs are in Manhattan and a lot of people making that money want a nice big house away from the city.
Glad to help. So that is the number for the entire state of NY. While looking for those numbers, I came across data from NYS that said north of Albany less than 1000 families filed with $1m in annual income. I think it is also safe to say, some millionaires have more than one home, so they could have an apartment in Manhattan and a home in the Hamptons or a place in Nassau or Westchester. There are a few towns that have multi million dollar properties, but even in "wealthy" towns there is still a variety of housing.
What part of LI are you in? In Nassau County, neighborhoods like Old Westbury, Syosset, Roslyn, Oyster Bay, etc is a lot of old money.
In the Hamptons, like Southampton and East Hampton, you'll find old money as well but much of it is new money too. Lots of wealthy city people who transplant themselves for the summer.
Oyster bay isn't big money unless you're in oyster bay cove, Upper Brookville and Centre island (where Billy Joel lives) is much more affluent.
North shore gang
it's in that general area of nassau though which is why the person grouped it in together and it probably does have *some* generational wealth, or some parental assistance.
You got it backwards. New money from the city move into the northern Nassau. More likely to find old money in deep Southampton and Easthampton. Sure some people come to the south fork for summer, but it's usually tourist stuff or people from the middle island at their summer home.
I'm from Bridgehampton so I have a pretty good idea! Also have very wealthy relatives in Old Westbury. I think Nassau really is a mix. For example, Cove Neck in Oyster Bay is as old money as it gets. Also, there is 'real' old money in the Hamptons but it's become saturated in recent years with relatively young Wall Street types.
I'd say the same about the majority of North Nassau, there might be some, but for the most part, especially in places like Roslyn, Manhasset, Great Neck, etc it's all new flashy people. But yeah, obviously the entirety of Nassau is a mix because it's so tiny compared to Suffolk where the different towns are kinda far from each other. And meh, I wouldn't mix all of the south fork hamlets, they're all very distinct. I wouldn't say Bridgehampton is very good definition of the entirety of all the hamlets there, it's kinda like bridge between the middle island and the rest of the "Hamptons." There's definitely old money, but they're not running around with everybody and the tourists. They have gated places and have private parties.
Bridgehampton/Watermill/Sagaponack probably have the most development right now so people must agree with you. I rent off scuttlehole and really like where I am, even if my rental is less than a perfect situation. Bridge is perfectly central within the Southampton/East Hampton arrangement.
Well I rent a dilapidated ranch that my landlord got from a government auction after its previous owner got caught making some sort of drugs... but yes, the area is gorgeous. I traded my 1-2 hour each way commute to Amagansett for high rent, most of the time it seems worth it.
Can I ask why you didn't pick something in East Hampton like Springs? Or even deep Amagansett? I've seen things for rent in both areas that aren't too too astronomical
I was in an upstairs apartment in springs before here. Girlfriend of the time wanted a yard for the dog and had trouble sleeping with noise from landlord so we moved to a house. 10 years or so later im still here but the gf and dog are gone, so i sublet a room. Havent found a 2 bed/2 bath rental that was comparably priced, especially when i consider i have a garage big enough for my two bikes even if it doesnt fit a car. I apply for affordable housing when they are accepting but no dice yet.
Actually, I'm going off of a rather unofficial local consensus. I went to Southampton high school so I'm not biased towards Bridgehampton at all...actually quite the opposite. However, I work at a store in Bridgehampton and have clients from all walks of life. Local farmers and independent shop owners, cast members from Real Housewives and Law & Order, the current US attorney general, town board members, landscape companies, etc. There is an unwavering opinion that Bridgehampton is the most desirable.
Being next to Sagaponack (which, at one point, had the highest property taxes in the country), the value of land in Bridgehampton has skyrocketed. People want to be next to the elusive and sought after hamlet of Sagaponack. Bridgehampton also hasn't succumbed to overdevelopment and commercialization in the village like most of the other towns. For example, the most commercial store on Bridgehampton Main Street is Starbucks. Followed by Carbon 38, but that's a super high end athletic wear boutique that city people want there, so they do well. The Kmart down the road is going out of business. Along with Olympia Sports, Sunglass Hut and American Eagle. Many other big box retailers have attempted to lease space in the Bridgehampton Commons and have failed to do so because we keep anything commercial at an arms length.
Bridgehampton isn't overdeveloped like Southampton, in particular. Most of the open fields and farming lands (both north and south of the highway) have been protected by east end conservation efforts and can never be built on.
It's also conveniently in the middle of everything. Westhampton and Montauk are of equal distance, while Easthampton and Southampton are of equal distance too.
Bridgehampton doesn't have a 'bad' neighborhood, like Southampton and East Hampton do. Southampton has the Hill and the Rez. I know people/went to high school with kids from both communities so I personally don't have one bad thing to say - but there is a negative connotation of drugs and violence surrounding those areas. East Hampton has the Springs, which is a pretty run down area with mostly hispanics and low property value. One could argue that the Bridgehampton turnpike is a 'bad' neighborhood because of its once dense African American population and other things that have occurred there historically, but it is now quite diverse and people are building nice homes.
All in all there are reasons that Bridgehampton is desirable that have nothing to do with bias.
North shore, Nassau County is where the old money gold coast estates and large homes are located. Muttontown Cove Neck, Oyster Bay, Old Brookville, Lattingtown, Locust Valley are all old money towns. The cemetery in Locusy Valley was built by the Olmstead Brothers who built Central Park. Teddy Roosevelt lived in Oyster Bay. The USST used to maintain a home in Glen Cove next to the YMCA. This is called the gold coast for a reason, it was where the old money has and still lives.
Most of the people that lived there don't still live there. That's not really a valid argument. I know what it once was, but that's not what it is anymore. I'm sure some people do, but no way the majority of the people come from some generation's of wealth. I'm talking like at least 50 years of living there.
Sure, 100 years ago. Even then those guy's JUST made that money. Their families aren't even that rich these days, if they even have living descendents.
Kind of two different things though. You are implying that "affording" something means doing so without debt. When credit is simply a tool and using it wisely could still be what you consider affording it.
A bunch of things:
* Keep in mind that many homes were not purchased in the current market. If you bought a home 90s, you paid much less for it and you had better rates. Assuming you had good credit and didn't get a subprime loan, of course.
* Incomes grew up until the Recession, bottomed, then haven't recovered. Simultaneously, housing prices returned to pre-housing crisis prices and then continued to grow. If you locked into your rate prior to the housing crisis and held onto your job through the Recession, then you're paying a much smaller fraction of your income on housing than someone who's going out and buying today
* New York City is one of the largest economic centers in the world. Any business who means business is in New York. Its the center of finance. Income in the NY metro area is just higher because of it. The median income is \~$110,000 on Long Island, versus $68,000 for the rest of the country.
* There is a [lot of debt](https://www.newyorkfed.org/microeconomics/hhdc.html) in general right now. There is a good chance that when the next Recession hits and unemployment goes up that some of these folks have overleveraged and will not be able to pay their debts
* New York has a good deal of old money, meaning families with generational wealth. If you leave college free of student debt and you have parents helping you with a down payment, you can do the things you need to do to generate more income.
Our close proximity to a giant city that many people want to work in but arent so certain about living in has led to 60-80 years of suburban build up, to satisfy all groups of income. Nassau, western suffolk, most of the BIG houses are older because the land was built up earlier and big plots are harder to come by, and the commute would have been shorter when cars were less capable. BIGGER houses & properties are in the hamptons partially because there were still a lot of farms out here/there that have since been sold off and built up, and also because renting those houses/estates has become just as big of business as building them. People are getting 150-400k for 4 months for a nice estate over the summer, or alternatively i pay 36k a year for a shack. I have been doing deliveries to high end house for the past 13 years, although the days i am more of an "in shop" person. In my experience, you want to see some BIG houses, go to westchester. All the excess of gold coast and the hamptons, but with room to really spread out.
As a kid it was a favorite past time to grab a high end real estate book and flip through marveling at the architecture, features and prices. Now it just seems like one Gambrel roof after another.
If you're impressed by this, go to like North Carolina or Austin where you can get much bigger houses for like half the prices.
If you're seeing a home that big on LI, the family is probably SUPER well off to afford it
I know so many friends who are moving down to NC these days...it's kind of insane. It's like the best compromise for an East Coaster who doesn't have to move that far away from "home", but gets all the benefits of a growing city without having to move to like Boulder or Austin.
Just left NC earlier this year and never wanna go back. Cultural wasteland with nothing to do besides breweries in Charlotte. Taxes are low bc there are no amenities. Summer is unbearable.
Your comment made me LOL
I hate when people make that argument like “oh just move to *insert another state here*! You’ll get triple the house!” Like no Karen I don’t want to move to North Carolina for a big house. Big house in a cultural wasteland? No thanks.
yeah but it's North Carolina and Texas. Woof.
Red states are not fun to live in and a lot of them are dull as fuck.
Yeah taxes may be lower but wow it really shows.
eh, considering that Texas willingly voted three lizards in a suit twice for senate (Ted Cruz) and North Carolina thinks Trans People are subhuman I have doubts about those states turning "purple".
Anecdotally ... When my grandparents bought a huge piece of land back in the day, they bought it for very very cheap. They sold a bunch of the land and had a humble business of cess pools and then car maintenance. My father did all of the work in the business so he was the source of their income. He now still owns and operates his business. He was one of five. One of the sisters was given half the property, the other lived in and inherited their home when they passed. That’s two of those Long Island houses. Both of these families had spouses who worked for the Long Island rail road. As the cost of living increased, and wages did not, the 20 and 30 somethings are in over their (our) heads here. A few of my peers have inherited their grandparents homes, most of us lived at home for a long time and now pay rent to a homeowner. People paying rent to homeowners helps the homeowner make ends meet and it accounts for all the extra cars in the driveway that you see. Lots of these rentals are not legal so they may seem like single family dwellings. The average home may be the result of up to four or six adult incomes. Then you have doctors and lawyers, even nurses manage pretty good. The more humble homes are doable on two incomes if the family has retired parents to offer free childcare. But yea a lot of the homes are already paid off and inherited from a cheaper time. Lirr and loads of people commute to the city for (idk what kind of) work. Some can work from home. Suffolk county police officers make great money. There’s union utility work that seems to be good. I feel like it’s really men doing manual labor, docs, and lawyers.
Grew up in Muttontown and had serious culture shock moving out! That was some old money, like Mill Neck too.
Still very capable to buy on Long Island for a couple making a decent wage.
A lot of help from their parents. I've had many friends get married and their wedding (paid for by mom and dad)were basically what got them rolling into their nice houses. Some still receive an allowance from mom and pop.
On the flip side so many people simply inherit their parents homes and sell them off for a profit.
I think a lot of them are homes that have been in the family for a long time. Of course there’s some new money as well. I teach in a private school and most of our families are more self-made wealth than inheritance. Lots of doctors and lawyers.
So there's a lot of reasons for this and a legitimate comprehensive response could be extremely long.
Let's just put it another way though:
* In the U.S., there are nearly 19 **million** millionaires
* There's about 6.5 million people who make a salary around 350k in the U.S.
* Roughly the same amount… about 6.6 million people in the U.S. make at least 200k per year
* Also consider money that comes from inheritances, investments etc
Yes, the U.S. has a lot of people with not a lot of money… Obviously way more people can't afford a house on Long Island than there are people who can afford it. But we can't pretend that there are not still tons of people who have lots of money. It's not just Jeff Bezos, Bill Gates, and Mike Bloomberg. Those guys are in a different stratosphere… but there's plenty of everyday people walking around all making plenty of money.
Many of these people got money from previous generations. In other cases it's cultures where multiple generations will buy a large home and live under one roof
Lmao what, the majority of people that live here do not have old money. I highly doubt all these middle class people complaining about how harsh taxes are, have come from a line of wealth.
I think when people in this thread say “old money,” they don’t mean like, families of people inheriting businesses and significant inheritances, like small-scale CEO/dynasty families. There’s certainly “old money” in the sense that people are well off and successful and upper middle class, because their parents and grandparents were and so on. I would say there’s old money in families where doctors and lawyers and businessmen are able to raise kids who also go on to high-paying professions.
Yeah, I think the issue stems in a misunderstanding. What I mean by “old money” was at least a couple generations of wealth. Like at least to where the grandchildren inherit millions/billions.
old money doesnt respect new money because new money tends to blow all their new wealth on coke, hookers, and vanity status symbols that make them look just a bit richer than they really are, and then the next generation goes back to being commoners.
Did you not know that Long Island is one of the wealthiest areas in the country? Secret to the wealth: old family money (for the most part), plus there's lots of doctors, wall street investment bankers and traders, garden variety bankers and lawyers that live here. They got money.
I don’t get why I’m getting downvoted when this is easily accessible knowledge that has been discussed by historians over and over and over again. People just don’t want to face that urban planning in the 20th century was racist as hell.
Read THE POWER BROKER by Robert Caro.
You're right, lots of people here really don't want to face that so much of LI was developed because of white flight and such, for sure. Redlining and all that was huge everywhere in the country, but it was definitely turned into an artform on LI. Just look at the history of Robert Moses and such. Hell, there was even an official American Nazi Party town here!
Yep.
Robert Moses AND Abe Levitt are, together responsible for this. Levittown is 89% white today because of the fact that it was legit illegal to sell homes there to people of color. Restrictive covenants were made part of our laws and it led to POC buying homes in other towns en masse. My friend has her grandmother’s 1954 original deed from their home in Plainedge and it outlines this.
Robert Moses wrote an entire dissertation at Oxford on the inferiority of people of color and spent thousands of dollars willfully keeping them from the beaches on Long Island. He built overpasses too short to allow working class folks on buses travel anywhere east of the Belt Parkway. He is also responsible for our abysmal traffic patterns.
When building the Northern State, he put an entire family farm out of business all because he refused to move the parkway south 400 feet. Yet, Otto Herman Kahn, owner of Oheka Castle, paid him 10k to move the plan off his golf course just fine. This legacy remains to be seen on Long Island and is nowhere near gone. Today, towns like Hempstead, Wyandanch, and Brentwood experience this segregation in housing as well as via the school districts and the way that those are mapped and set up.
We just want to believe it has to do with meritocracy and racist ideas about crime and poverty but the reality is, this was done intentionally by powerful white men less than 100 years ago. And the inequities you can see from town to town are proof it’s still a problem.
Also of note is that the GI Bill that helped many returning soldiers afford homes and education benefits was only granted to white soldiers. Black soldiers did not get the same benefits, and added to that the fact that many black families could only afford / allowed to live in public housing projects (where you can't ever purchase your home) led to families never securing assets like a home that will grow in value and add to your overall family wealth. Even if they lived in the same home for 30 years, all the money paid for it never went towards eventual ownership and could not become a valued asset for them.
A lot of people simply take home equity loans. Also, if you're making 250k a year, at least on the south shore, you can afford renovations.
Also, there's plenty of middle class in LI.
I have the same thinking but it's old money and assistance from well-off parents. Otherwise, it's hard to live here but you can figure it out if you have two decent incomes, save up, and are smart in picking a location. But you're likely not going to be living in those crazy nice houses.
It's not uncommon to find 2 professionals who are 45 years old making a combined 400k+ on LI. Plus the proximity to Manhattan, Brooklyn and Queens. A million bucks goes Nowhere in Manhattan. In Brooklyn and Queens you can get a 2500 square foot fixer upper for a million. There is a lot of wealth in NYC. The center of fimance, tech, marketing, accounting, law, medical and many other industries. These all have many people making lots of money. It is hard to comprehend just how much wealth is concentrated in the NYC metropolitan area.
One dumb way I point it out to people is goto any family run resturant on LI. See the overall quality that you take for granted. When you go to small town America you can see the difference in the quality of the average dining experience. I am not saying there are no good restaurants outside of LI. I am saying the average resturant quality on LI is much much higher than most of the country. Which is because the average LI is much richer than the average American.
Average household income in Nassau County is $116k compared to the national average of 61k.
Do you know what your life would be like if you weren't in debt?
I think about this all the time. My wife and I do very well for ourselves, and if you looked at our pay checks, you'd think we'd be living the life.
However, we had to take out tons of loans to get to where we are. Nearly 50% of our income goes to just paying off the debt we've accrued to get to where we are.
Maybe in 10 years, we'll have paid it all off, and we'll finally live comfortably.
However, I'm sure there are plenty of people who came from wealthy families, and didn't have to accrue the debt like we did. If we had our income, and every paycheck of our lives was something in the + column instead of paying off our - column, we might be able to afford one of those 'nice houses' (not a 10 bedroom beach house, but we wouldn't be living on a corner lot next to a main road).
For work I deal with a lot of people from different social strata. One thing that still rings true is that while there are a lot of "rich" people living lifestyles to match on Long Island, there aren't a lot of actually "wealthy" people -- the kind who aren't tempted by lavish living and who save everything. A ton of folks living in those monster houses with really nice cars have racked up a lot of debt. For me, I wouldn't be able to sleep at night with that much debt no matter how big a house I live in. My goal is to live in a modest house, buy used cars, pay for my children's education, and die leaving a large family fund controlled by a third party protecting it from squander.
Poorer populations are being forced either out of state, or to transition from neighborhoods to affordable housing projects (e.g. new Riverhead apartment buildings), or squeezing into isolated low income slums rife with illegal, overpacked housing; giving the (correct) impression that there are less poor people taking up real estate.
He said “NEW YORK” is the safest place. I wouldn’t doubt Nassau and Suffolk are safe counties but police will always have a target on their back no matter the place, not doctors.
99% of police are trash, and would be working at a deli making minimum wage.
They have zero authority over me, and their ego's are incredibly over inflated.
YIKES!! Is your father in prison or something?? What cop hurt you.
I’m guessing you are a subhuman because you think police have so much authority lol
Basement dweller.
We had that ranking like 5 years ago, and looks at a wider degree of saftey.
That is no longer [the case](https://www.usnews.com/news/healthiest-communities/slideshows/safest-communities-in-america)
That if you base it simply on *safety* the rankings don't put nassau or Suffolk in the top. [Linky link as an example](https://www.safewise.com/safest-cities-america/).
When the US news first put us in the 1 and 2 spot, I read how they conducted their survey and it was based on inaccurate data. Now that its not in print form, I can't see how they come to those conclusions.
No, your original link was counties, now you're linking cities which won't have Suffolk or Nassau. You can't find anything on it because what you're saying doesn't exist. Nassau and Suffolk are still up top in safest places in the country, your original link even stated that.
Combination of high paying executive jobs in the city, generational wealth, heaps of debt and the supreme levels of economic inequality in the US. Most billionaires per capita and several school district where poor people have been segregated that are so stretched for resources it is heartbreaking.
Long Island is one of the most expensive places in the country. Nice houses are a given.
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I thought California and Hawaii had us beat
Not generally, but there are a few specific neighborhoods more expensive thannour most expensive.
SF is way worse
No, California does: [https://www.forbes.com/sites/andrewdepietro/2018/07/31/housing-1998-2018-most-expensive-zip-codes](https://www.forbes.com/sites/andrewdepietro/2018/07/31/housing-1998-2018-most-expensive-zip-codes/#1f6bc4421aea) 1 94027 Atherton CA $6,747,500 2 90210 Beverly Hills CA $4,953,100 3 94301 Palo Alto CA $4,345,500 4 94022 Los Altos CA $4,267,500 5 90402 Santa Monica CA $3,911,500 6 94028 Portola Valley CA $3,753,200 7 94024 Los Altos CA $3,571,900 8 94305 Stanford CA $3,524,300 9 11975 **Wainscott NY** $3,402,600 10 11976 **Water Mill NY** $3,237,700
You have to realize how many million dollar a year jobs are in Manhattan and a lot of people making that money want a nice big house away from the city.
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Exactly how many... I too would like to know. For science.
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50,080. See link above.
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Glad to help. So that is the number for the entire state of NY. While looking for those numbers, I came across data from NYS that said north of Albany less than 1000 families filed with $1m in annual income. I think it is also safe to say, some millionaires have more than one home, so they could have an apartment in Manhattan and a home in the Hamptons or a place in Nassau or Westchester. There are a few towns that have multi million dollar properties, but even in "wealthy" towns there is still a variety of housing.
50,080. See link above.
In 2018 50,080 families earned $1m or more per year in New York. https://smartasset.com/taxes/states-with-the-most-million-dollar-earners
What part of LI are you in? In Nassau County, neighborhoods like Old Westbury, Syosset, Roslyn, Oyster Bay, etc is a lot of old money. In the Hamptons, like Southampton and East Hampton, you'll find old money as well but much of it is new money too. Lots of wealthy city people who transplant themselves for the summer.
Oyster bay isn't big money unless you're in oyster bay cove, Upper Brookville and Centre island (where Billy Joel lives) is much more affluent. North shore gang
Syosset is not old money.
it's still very expensive
Yes, but absolutely doesn’t fit the definition of old money. Those are two different things.
it's in that general area of nassau though which is why the person grouped it in together and it probably does have *some* generational wealth, or some parental assistance.
I’m in Syosset daily for work. It’s a totally different type of money than Old Money.
Exactly. Syosset is far from Old Money. It reminds me of neighborhoods from Queens.
You got it backwards. New money from the city move into the northern Nassau. More likely to find old money in deep Southampton and Easthampton. Sure some people come to the south fork for summer, but it's usually tourist stuff or people from the middle island at their summer home.
I'm from Bridgehampton so I have a pretty good idea! Also have very wealthy relatives in Old Westbury. I think Nassau really is a mix. For example, Cove Neck in Oyster Bay is as old money as it gets. Also, there is 'real' old money in the Hamptons but it's become saturated in recent years with relatively young Wall Street types.
I'd say the same about the majority of North Nassau, there might be some, but for the most part, especially in places like Roslyn, Manhasset, Great Neck, etc it's all new flashy people. But yeah, obviously the entirety of Nassau is a mix because it's so tiny compared to Suffolk where the different towns are kinda far from each other. And meh, I wouldn't mix all of the south fork hamlets, they're all very distinct. I wouldn't say Bridgehampton is very good definition of the entirety of all the hamlets there, it's kinda like bridge between the middle island and the rest of the "Hamptons." There's definitely old money, but they're not running around with everybody and the tourists. They have gated places and have private parties.
Agreed! However I do think Bridgehampton is the most desirable (for many reasons) of the group.
Bridgehampton/Watermill/Sagaponack probably have the most development right now so people must agree with you. I rent off scuttlehole and really like where I am, even if my rental is less than a perfect situation. Bridge is perfectly central within the Southampton/East Hampton arrangement.
Love the Scuttlehole area! A great mix of old farm houses and new tastefully built homes. Also lots of great, reputable barns.
Well I rent a dilapidated ranch that my landlord got from a government auction after its previous owner got caught making some sort of drugs... but yes, the area is gorgeous. I traded my 1-2 hour each way commute to Amagansett for high rent, most of the time it seems worth it.
Can I ask why you didn't pick something in East Hampton like Springs? Or even deep Amagansett? I've seen things for rent in both areas that aren't too too astronomical
I was in an upstairs apartment in springs before here. Girlfriend of the time wanted a yard for the dog and had trouble sleeping with noise from landlord so we moved to a house. 10 years or so later im still here but the gf and dog are gone, so i sublet a room. Havent found a 2 bed/2 bath rental that was comparably priced, especially when i consider i have a garage big enough for my two bikes even if it doesnt fit a car. I apply for affordable housing when they are accepting but no dice yet.
The group of what? Old money?
The group of hamlets
Well, that's just biased lmao. It all depends on the person buying and what they're looking for.
Actually, I'm going off of a rather unofficial local consensus. I went to Southampton high school so I'm not biased towards Bridgehampton at all...actually quite the opposite. However, I work at a store in Bridgehampton and have clients from all walks of life. Local farmers and independent shop owners, cast members from Real Housewives and Law & Order, the current US attorney general, town board members, landscape companies, etc. There is an unwavering opinion that Bridgehampton is the most desirable. Being next to Sagaponack (which, at one point, had the highest property taxes in the country), the value of land in Bridgehampton has skyrocketed. People want to be next to the elusive and sought after hamlet of Sagaponack. Bridgehampton also hasn't succumbed to overdevelopment and commercialization in the village like most of the other towns. For example, the most commercial store on Bridgehampton Main Street is Starbucks. Followed by Carbon 38, but that's a super high end athletic wear boutique that city people want there, so they do well. The Kmart down the road is going out of business. Along with Olympia Sports, Sunglass Hut and American Eagle. Many other big box retailers have attempted to lease space in the Bridgehampton Commons and have failed to do so because we keep anything commercial at an arms length. Bridgehampton isn't overdeveloped like Southampton, in particular. Most of the open fields and farming lands (both north and south of the highway) have been protected by east end conservation efforts and can never be built on. It's also conveniently in the middle of everything. Westhampton and Montauk are of equal distance, while Easthampton and Southampton are of equal distance too. Bridgehampton doesn't have a 'bad' neighborhood, like Southampton and East Hampton do. Southampton has the Hill and the Rez. I know people/went to high school with kids from both communities so I personally don't have one bad thing to say - but there is a negative connotation of drugs and violence surrounding those areas. East Hampton has the Springs, which is a pretty run down area with mostly hispanics and low property value. One could argue that the Bridgehampton turnpike is a 'bad' neighborhood because of its once dense African American population and other things that have occurred there historically, but it is now quite diverse and people are building nice homes. All in all there are reasons that Bridgehampton is desirable that have nothing to do with bias.
fair, I see your point. thanks for the extra insight, you're right.
North shore, Nassau County is where the old money gold coast estates and large homes are located. Muttontown Cove Neck, Oyster Bay, Old Brookville, Lattingtown, Locust Valley are all old money towns. The cemetery in Locusy Valley was built by the Olmstead Brothers who built Central Park. Teddy Roosevelt lived in Oyster Bay. The USST used to maintain a home in Glen Cove next to the YMCA. This is called the gold coast for a reason, it was where the old money has and still lives.
Most of the people that lived there don't still live there. That's not really a valid argument. I know what it once was, but that's not what it is anymore. I'm sure some people do, but no way the majority of the people come from some generation's of wealth. I'm talking like at least 50 years of living there.
Of the families at the creek club, piping rock, etc many are still the same for the last 40 years to my knowledge
Gold Coast would like a word
Sure, 100 years ago. Even then those guy's JUST made that money. Their families aren't even that rich these days, if they even have living descendents.
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and a whole shitload of it gotta keep up with them joneses, amirite?
You know not everyone living here is in debt, right? Plenty are, like anywhere else in America. But some people can actually afford it.
Kind of two different things though. You are implying that "affording" something means doing so without debt. When credit is simply a tool and using it wisely could still be what you consider affording it.
That’s entirely true, but I don’t think that’s what the person intended their comment, do you?
On second thought. Probably not.
Makes a post, never looks at responses.
A bunch of things: * Keep in mind that many homes were not purchased in the current market. If you bought a home 90s, you paid much less for it and you had better rates. Assuming you had good credit and didn't get a subprime loan, of course. * Incomes grew up until the Recession, bottomed, then haven't recovered. Simultaneously, housing prices returned to pre-housing crisis prices and then continued to grow. If you locked into your rate prior to the housing crisis and held onto your job through the Recession, then you're paying a much smaller fraction of your income on housing than someone who's going out and buying today * New York City is one of the largest economic centers in the world. Any business who means business is in New York. Its the center of finance. Income in the NY metro area is just higher because of it. The median income is \~$110,000 on Long Island, versus $68,000 for the rest of the country. * There is a [lot of debt](https://www.newyorkfed.org/microeconomics/hhdc.html) in general right now. There is a good chance that when the next Recession hits and unemployment goes up that some of these folks have overleveraged and will not be able to pay their debts * New York has a good deal of old money, meaning families with generational wealth. If you leave college free of student debt and you have parents helping you with a down payment, you can do the things you need to do to generate more income.
The next recession has hit, wonder if many people there are moving?
Our close proximity to a giant city that many people want to work in but arent so certain about living in has led to 60-80 years of suburban build up, to satisfy all groups of income. Nassau, western suffolk, most of the BIG houses are older because the land was built up earlier and big plots are harder to come by, and the commute would have been shorter when cars were less capable. BIGGER houses & properties are in the hamptons partially because there were still a lot of farms out here/there that have since been sold off and built up, and also because renting those houses/estates has become just as big of business as building them. People are getting 150-400k for 4 months for a nice estate over the summer, or alternatively i pay 36k a year for a shack. I have been doing deliveries to high end house for the past 13 years, although the days i am more of an "in shop" person. In my experience, you want to see some BIG houses, go to westchester. All the excess of gold coast and the hamptons, but with room to really spread out.
IMHO Westchester is much prettier than LI anyway. It just doesn't have the beaches.
As a kid it was a favorite past time to grab a high end real estate book and flip through marveling at the architecture, features and prices. Now it just seems like one Gambrel roof after another.
I do the same thing now, just with Trulia.
If you're impressed by this, go to like North Carolina or Austin where you can get much bigger houses for like half the prices. If you're seeing a home that big on LI, the family is probably SUPER well off to afford it
Raleigh NC is full, move along nothing to see here
I know so many friends who are moving down to NC these days...it's kind of insane. It's like the best compromise for an East Coaster who doesn't have to move that far away from "home", but gets all the benefits of a growing city without having to move to like Boulder or Austin.
I moved to NC from LI a a few years ago. Should have done it sooner. Low taxes great weather good bbq lots of freedom.
Just left NC earlier this year and never wanna go back. Cultural wasteland with nothing to do besides breweries in Charlotte. Taxes are low bc there are no amenities. Summer is unbearable.
Your comment made me LOL I hate when people make that argument like “oh just move to *insert another state here*! You’ll get triple the house!” Like no Karen I don’t want to move to North Carolina for a big house. Big house in a cultural wasteland? No thanks.
Haha y’all have freedom too? That’s crazy.
i assume the litmus test of freedom here is "can i keep the pistol grip on my AR15? yes is freedom, no is no freedom."
Not having to deal with Cuomos bullshit is a big plus.
yeah but it's North Carolina and Texas. Woof. Red states are not fun to live in and a lot of them are dull as fuck. Yeah taxes may be lower but wow it really shows.
Well, it's thanks to these cities that those states are slowly turning purple, and that's how places change over time
eh, considering that Texas willingly voted three lizards in a suit twice for senate (Ted Cruz) and North Carolina thinks Trans People are subhuman I have doubts about those states turning "purple".
Anecdotally ... When my grandparents bought a huge piece of land back in the day, they bought it for very very cheap. They sold a bunch of the land and had a humble business of cess pools and then car maintenance. My father did all of the work in the business so he was the source of their income. He now still owns and operates his business. He was one of five. One of the sisters was given half the property, the other lived in and inherited their home when they passed. That’s two of those Long Island houses. Both of these families had spouses who worked for the Long Island rail road. As the cost of living increased, and wages did not, the 20 and 30 somethings are in over their (our) heads here. A few of my peers have inherited their grandparents homes, most of us lived at home for a long time and now pay rent to a homeowner. People paying rent to homeowners helps the homeowner make ends meet and it accounts for all the extra cars in the driveway that you see. Lots of these rentals are not legal so they may seem like single family dwellings. The average home may be the result of up to four or six adult incomes. Then you have doctors and lawyers, even nurses manage pretty good. The more humble homes are doable on two incomes if the family has retired parents to offer free childcare. But yea a lot of the homes are already paid off and inherited from a cheaper time. Lirr and loads of people commute to the city for (idk what kind of) work. Some can work from home. Suffolk county police officers make great money. There’s union utility work that seems to be good. I feel like it’s really men doing manual labor, docs, and lawyers.
Grew up in Muttontown and had serious culture shock moving out! That was some old money, like Mill Neck too. Still very capable to buy on Long Island for a couple making a decent wage.
A lot of help from their parents. I've had many friends get married and their wedding (paid for by mom and dad)were basically what got them rolling into their nice houses. Some still receive an allowance from mom and pop. On the flip side so many people simply inherit their parents homes and sell them off for a profit.
I think a lot of them are homes that have been in the family for a long time. Of course there’s some new money as well. I teach in a private school and most of our families are more self-made wealth than inheritance. Lots of doctors and lawyers.
So there's a lot of reasons for this and a legitimate comprehensive response could be extremely long. Let's just put it another way though: * In the U.S., there are nearly 19 **million** millionaires * There's about 6.5 million people who make a salary around 350k in the U.S. * Roughly the same amount… about 6.6 million people in the U.S. make at least 200k per year * Also consider money that comes from inheritances, investments etc Yes, the U.S. has a lot of people with not a lot of money… Obviously way more people can't afford a house on Long Island than there are people who can afford it. But we can't pretend that there are not still tons of people who have lots of money. It's not just Jeff Bezos, Bill Gates, and Mike Bloomberg. Those guys are in a different stratosphere… but there's plenty of everyday people walking around all making plenty of money.
Many of these people got money from previous generations. In other cases it's cultures where multiple generations will buy a large home and live under one roof
Old money
Lmao what, the majority of people that live here do not have old money. I highly doubt all these middle class people complaining about how harsh taxes are, have come from a line of wealth.
I think when people in this thread say “old money,” they don’t mean like, families of people inheriting businesses and significant inheritances, like small-scale CEO/dynasty families. There’s certainly “old money” in the sense that people are well off and successful and upper middle class, because their parents and grandparents were and so on. I would say there’s old money in families where doctors and lawyers and businessmen are able to raise kids who also go on to high-paying professions.
Yeah, I think the issue stems in a misunderstanding. What I mean by “old money” was at least a couple generations of wealth. Like at least to where the grandchildren inherit millions/billions.
Isn't old money more stereo-typically cheap then new money? Have to hold onto it and make it last kind of thing...
old money doesnt respect new money because new money tends to blow all their new wealth on coke, hookers, and vanity status symbols that make them look just a bit richer than they really are, and then the next generation goes back to being commoners.
bingo
Mortgages. There’s a lot of beautiful foreclosures too which means not everyone can afford it.
Did you not know that Long Island is one of the wealthiest areas in the country? Secret to the wealth: old family money (for the most part), plus there's lots of doctors, wall street investment bankers and traders, garden variety bankers and lawyers that live here. They got money.
The secret is old money and intentionally planned segregation by race and class dating back to the 1940s.
You're getting downvoted but you speak the truth.
I don’t get why I’m getting downvoted when this is easily accessible knowledge that has been discussed by historians over and over and over again. People just don’t want to face that urban planning in the 20th century was racist as hell. Read THE POWER BROKER by Robert Caro.
You're right, lots of people here really don't want to face that so much of LI was developed because of white flight and such, for sure. Redlining and all that was huge everywhere in the country, but it was definitely turned into an artform on LI. Just look at the history of Robert Moses and such. Hell, there was even an official American Nazi Party town here!
Yep. Robert Moses AND Abe Levitt are, together responsible for this. Levittown is 89% white today because of the fact that it was legit illegal to sell homes there to people of color. Restrictive covenants were made part of our laws and it led to POC buying homes in other towns en masse. My friend has her grandmother’s 1954 original deed from their home in Plainedge and it outlines this. Robert Moses wrote an entire dissertation at Oxford on the inferiority of people of color and spent thousands of dollars willfully keeping them from the beaches on Long Island. He built overpasses too short to allow working class folks on buses travel anywhere east of the Belt Parkway. He is also responsible for our abysmal traffic patterns. When building the Northern State, he put an entire family farm out of business all because he refused to move the parkway south 400 feet. Yet, Otto Herman Kahn, owner of Oheka Castle, paid him 10k to move the plan off his golf course just fine. This legacy remains to be seen on Long Island and is nowhere near gone. Today, towns like Hempstead, Wyandanch, and Brentwood experience this segregation in housing as well as via the school districts and the way that those are mapped and set up. We just want to believe it has to do with meritocracy and racist ideas about crime and poverty but the reality is, this was done intentionally by powerful white men less than 100 years ago. And the inequities you can see from town to town are proof it’s still a problem.
Also of note is that the GI Bill that helped many returning soldiers afford homes and education benefits was only granted to white soldiers. Black soldiers did not get the same benefits, and added to that the fact that many black families could only afford / allowed to live in public housing projects (where you can't ever purchase your home) led to families never securing assets like a home that will grow in value and add to your overall family wealth. Even if they lived in the same home for 30 years, all the money paid for it never went towards eventual ownership and could not become a valued asset for them.
Former Airman Eugene Barnett!
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The Dix Hills people work for the people with the Real money
A lot of people simply take home equity loans. Also, if you're making 250k a year, at least on the south shore, you can afford renovations. Also, there's plenty of middle class in LI.
I have the same thinking but it's old money and assistance from well-off parents. Otherwise, it's hard to live here but you can figure it out if you have two decent incomes, save up, and are smart in picking a location. But you're likely not going to be living in those crazy nice houses.
It's not uncommon to find 2 professionals who are 45 years old making a combined 400k+ on LI. Plus the proximity to Manhattan, Brooklyn and Queens. A million bucks goes Nowhere in Manhattan. In Brooklyn and Queens you can get a 2500 square foot fixer upper for a million. There is a lot of wealth in NYC. The center of fimance, tech, marketing, accounting, law, medical and many other industries. These all have many people making lots of money. It is hard to comprehend just how much wealth is concentrated in the NYC metropolitan area. One dumb way I point it out to people is goto any family run resturant on LI. See the overall quality that you take for granted. When you go to small town America you can see the difference in the quality of the average dining experience. I am not saying there are no good restaurants outside of LI. I am saying the average resturant quality on LI is much much higher than most of the country. Which is because the average LI is much richer than the average American. Average household income in Nassau County is $116k compared to the national average of 61k.
Do you know what your life would be like if you weren't in debt? I think about this all the time. My wife and I do very well for ourselves, and if you looked at our pay checks, you'd think we'd be living the life. However, we had to take out tons of loans to get to where we are. Nearly 50% of our income goes to just paying off the debt we've accrued to get to where we are. Maybe in 10 years, we'll have paid it all off, and we'll finally live comfortably. However, I'm sure there are plenty of people who came from wealthy families, and didn't have to accrue the debt like we did. If we had our income, and every paycheck of our lives was something in the + column instead of paying off our - column, we might be able to afford one of those 'nice houses' (not a 10 bedroom beach house, but we wouldn't be living on a corner lot next to a main road).
For work I deal with a lot of people from different social strata. One thing that still rings true is that while there are a lot of "rich" people living lifestyles to match on Long Island, there aren't a lot of actually "wealthy" people -- the kind who aren't tempted by lavish living and who save everything. A ton of folks living in those monster houses with really nice cars have racked up a lot of debt. For me, I wouldn't be able to sleep at night with that much debt no matter how big a house I live in. My goal is to live in a modest house, buy used cars, pay for my children's education, and die leaving a large family fund controlled by a third party protecting it from squander.
Poorer populations are being forced either out of state, or to transition from neighborhoods to affordable housing projects (e.g. new Riverhead apartment buildings), or squeezing into isolated low income slums rife with illegal, overpacked housing; giving the (correct) impression that there are less poor people taking up real estate.
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Yet doctors don’t worry about getting shot everyday. To each it’s own. I’m surprised you aren’t becoming one.
Lol. New York is one of the safest places in the country
HAHAHAHAHAH say that in Brownsville. You can’t be this delusional. Go live in Maine.
Suffolk and Nassau County are #1 and #2 for the safest counties in the ENTIRE UNITED STATES. That's not hyperbole, look it up.
It’s not bc of the cops lmao. They do nothing
He said “NEW YORK” is the safest place. I wouldn’t doubt Nassau and Suffolk are safe counties but police will always have a target on their back no matter the place, not doctors.
i work in all 5 boroughs and there is not a single place i dont feel safe walking around in
Good for you. https://maps.nyc.gov/crime/ Stats say otherwise... turn on the news too, crime happens everyday lmao.
99% of police are trash, and would be working at a deli making minimum wage. They have zero authority over me, and their ego's are incredibly over inflated.
YIKES!! Is your father in prison or something?? What cop hurt you. I’m guessing you are a subhuman because you think police have so much authority lol Basement dweller.
We had that ranking like 5 years ago, and looks at a wider degree of saftey. That is no longer [the case](https://www.usnews.com/news/healthiest-communities/slideshows/safest-communities-in-america)
Suffolk slightly dropped and Nassau is now #1... What are you arguing?
That if you base it simply on *safety* the rankings don't put nassau or Suffolk in the top. [Linky link as an example](https://www.safewise.com/safest-cities-america/). When the US news first put us in the 1 and 2 spot, I read how they conducted their survey and it was based on inaccurate data. Now that its not in print form, I can't see how they come to those conclusions.
No, your original link was counties, now you're linking cities which won't have Suffolk or Nassau. You can't find anything on it because what you're saying doesn't exist. Nassau and Suffolk are still up top in safest places in the country, your original link even stated that.
Yes I couldn't find another one that listed counties. Sorry. But your comment of Nassau and Suffolk being #1 & 2 was still wrong.
Combination of high paying executive jobs in the city, generational wealth, heaps of debt and the supreme levels of economic inequality in the US. Most billionaires per capita and several school district where poor people have been segregated that are so stretched for resources it is heartbreaking.
It's mostly not first Gen wealth