Originally posted by: gotsmack
whatever, the guy in the second article is an idiot. I live about 1/2 hour drive from Parsippany and he lived in Toms River which is south of there so you catch all the traffic. Idiot could have moved north of where he worked.
He could have sold his place and rented a nice 2 bedroom apartment in a decent neighborhood close to work for about $1K a month while waiting out the housing bubble.
I know Tom and he is far from an Idiot. I would guess Tom is going to pay his house off in 3-4 years and has already put money aside for his kids college so he wont have anything to worry about when its time. He will be retired in 10 years. He works for a large financial group now and makes about the same as he did up north except his finances are completely reversed. This is significantly different from where we would have been if he stayed as he outlines.
Tom has 2 kids so his kids would have to share a room. I would think he needs a 3 bedroom at least.
Decent Neighborhood doesnt sound very convincing. Toms home is about 3800sq feet on a lake with a golf course in walking distance although he is a lousy golfer. His house will probably double in value in 5 years. Its quite nice and his neighborhood is beautiful.
The crap people are asking 400K for is Jersey ludicris. I would sooner take a match to most of them.
I personally did something similar and I agree the big housing boom is going to occur in North Carolina and that New Jersey has maxed out.
If you met Tom you would understand and I recall him saying I cant believe they paid 500K for my house. It was like trading in a dead dog and getting a super model for free.
The problem I saw in NJ was most get too hung up on how many dollars they make but fail to compare that to what you get for your dollar. The ratio is not worth the headache and sacrafices. Especially if your not making the big dollars.
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