I was wondering the same thing myself. People do seem to be buying some expensive stuff for an area which is depressed. I guess it must be all these government workers we have cops included making $70,000 or more a year buying these.
Hit the Horizons Homeshow this weekend...
Boy, for an area thats dying, there were lots of people there looking at houses that were 400k plus.
Someone, please tell me where all these people work that can afford expensive houses, taxes, and cars. I'm sure they don't work for the local/state/fed government.
"When fascism comes to America it will be wrapped in the flag and carrying a cross." - Sinclair Lewis (1935)
I was wondering the same thing myself. People do seem to be buying some expensive stuff for an area which is depressed. I guess it must be all these government workers we have cops included making $70,000 or more a year buying these.
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I did a report on economic sociology in WNY a couple of years ago.Originally posted by LaNdReW
Hit the Horizons Homeshow this weekend...
Boy, for an area thats dying, there were lots of people there looking at houses that were 400k plus.
Someone, please tell me where all these people work that can afford expensive houses, taxes, and cars. I'm sure they don't work for the local/state/fed government.
It was inspired by the "where do these people work?" question. Most of the data was gathered using local assessment sites, superpages, and friends I knew in each area...
You would be very surprised how many private businesses there are in the area. You don't really realize the actual number until you start prying. You also need to take into consideration that we have a lot of private practice physicians in specialty and surgical practices. Lawyers, Insurance people, professors, inventors, etc.
You also need to factor in places like UB, M&T, First Niagara, Jamestown SB, etc.
Take a look at the real estate transactions and google the names some day... its pretty interesting.
Originally posted by WNYresident
I was wondering the same thing myself. People do seem to be buying some expensive stuff for an area which is depressed. I guess it must be all these government workers we have cops included making $70,000 or more a year buying these.
You can't afford a $400,000 house on that small of a salary, unless you are pumping all of your disposable income into the property...
public information gathered from the internet:
james conley, heart surgeon:
http://www.amherst.ny.us/govt/assess...91800008008100
james culligan, culligan auto place:
http://www.amherst.ny.us/govt/assess...91800008003110
paul candino, prism health
http://www.erie.gov/clarence/assessm...91600002012000
jim tou, MTI
http://www.erie.gov/clarence/assessm...91600001009111
cant remember name, owner brand names:
http://www.amherst.ny.us/govt/assess...61200006065000
gerald lauria, pediatrician:
http://www.americaschoice.com/displa...k&nls_num=5283
bansi kaul, pediatrician
http://www.amherst.ny.us/govt/assess...20400003002000
Kent Frey (frey electric) and Laurie Lisowski, newswoman:
http://www.amherst.ny.us/govt/assess...61100006001000
leonard lovullo, the insurance guy:
http://www.amherst.ny.us/govt/assess...51100001008000
we went to the horizons home show in 2001 and fell in love with a house that ended up selling for $325,000 to a CMO of children's hospital...it ended up selling last year for $490,000....
http://www.amherst.ny.us/govt/assess...61600001041000
this house belonged to the late john moslow, whose company made humidors and trophy bases...the house sold last year for $850,000. check out howmuch they are asking for it now...pretty nice profit, if that's what they get...90 acres:
http://rusabuffalo.leadmaxx.lantrax....TOKEN=36236466
Paul Bloom, developer:
http://www.erie.gov/clarence/assessm...10800001020100
Inkee Min, nephrologist:
http://www.erie.gov/clarence/assessm...10800001018000
and THIS one REALLY pisses me off:
Roderick Hennings, PASTOR -- http://www.cogicyouth.com/about/henningsbio.asp
http://www.amherst.ny.us/govt/assess...91600005003000
Last edited by ERIEMAN; July 11th, 2005 at 05:29 PM.
Originally posted by WNYresident
I guess it must be all these government workers we have cops included making $70,000 or more a year buying these.
Of course if the cops wife is an RN making 60K herself per anum then maybe with their combined $130,000...ya know.Originally posted by ERIEMAN
You can't afford a $400,000 house on that small of a salary, unless you are pumping all of your disposable income into the property...
I think that's part of it, dual incomes.
The difference between taxes and robbery is the mode of coercion.
Why not? You take out a 30 year mortage and it's like 13,000 a year plus interest.You can't afford a $400,000 house on that small of a salary, unless you are pumping all of your disposable income into the property...
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Aggressive estimate at www.mandt.com
70k a year gross income
10k a year taxes
6% 30 year mtg
$11,500 down, max loan amount is $230,144.00 ($2041/mo)
$71,500 down, max loan amount is $357,703.00 ($2624/mo)
No car payments or insurance included.
Then, there are silly things like income/payroll tax, food and stuff like that.
"When fascism comes to America it will be wrapped in the flag and carrying a cross." - Sinclair Lewis (1935)
\Originally posted by ERIEMAN
You can't afford a $400,000 house on that small of a salary, unless you are pumping all of your disposable income into the property...
public information gathered from the internet:
james conley, heart surgeon:
http://www.amherst.ny.us/govt/assess...91800008008100
james culligan, culligan auto place:
http://www.amherst.ny.us/govt/assess...91800008003110
paul candino, prism health
http://www.erie.gov/clarence/assessm...91600002012000
jim tou, MTI
http://www.erie.gov/clarence/assessm...91600001009111
cant remember name, owner brand names:
http://www.amherst.ny.us/govt/assess...61200006065000
gerald lauria, pediatrician:
http://www.americaschoice.com/displa...k&nls_num=5283
bansi kaul, pediatrician
http://www.amherst.ny.us/govt/assess...20400003002000
Kent Frey (frey electric) and Laurie Lisowski, newswoman:
http://www.amherst.ny.us/govt/assess...61100006001000
leonard lovullo, the insurance guy:
http://www.amherst.ny.us/govt/assess...51100001008000
we went to the horizons home show in 2001 and fell in love with a house that ended up selling for $325,000 to a CMO of children's hospital...it ended up selling last year for $490,000....
http://www.amherst.ny.us/govt/assess...61600001041000
this house belonged to the late john moslow, whose company made humidors and trophy bases...the house sold last year for $850,000. check out howmuch they are asking for it now...pretty nice profit, if that's what they get...90 acres:
http://rusabuffalo.leadmaxx.lantrax....TOKEN=36236466
Paul Bloom, developer:
http://www.erie.gov/clarence/assessm...10800001020100
Inkee Min, nephrologist:
http://www.erie.gov/clarence/assessm...10800001018000
and THIS one REALLY pisses me off:
Roderick Hennings, PASTOR -- http://www.cogicyouth.com/about/henningsbio.asp
http://www.amherst.ny.us/govt/assess...91600005003000
Nice post, now I know where amherst spends all their tax money.
(well that website and sewage sludge pellets)
"When fascism comes to America it will be wrapped in the flag and carrying a cross." - Sinclair Lewis (1935)
Here's what kind of income it takes to buy a 400,000+ home:
1. Price:$ 409,900 single family home, detached, on 1/2 acre lot in the suburbs. (I chose a real home because www.realtor.com does the mortgage calc for you!).
2. Down payment: $81,980 (20%). Interest rate: 5.3421%. 30 year conventional mortgage. Monthly mortgage payment is $ 1,830.
3. This home didn't show the annual taxes. I figured $3000 for each $100,000 or $12,000 a year or $1,000 a month.
4. I figured the insurance as $600 annually so it works out to $50 a month.
5. Mortgage + taxes + insurance = $1830 + $1000 + 50 = $2880.
6. Mortgage lenders want total of all debt (mortgage + other) to equal no more than about 35% and mortgage to be no more than 28-30% of total monthly income.
7. Assuming no other debt or minimal debt, it would take a monthly income of $9600 a month or $115,200 annually. If you have more installment debt, then you have a higher income.
Your right to buy a military weapon without hindrance, delay or training cannot trump Daniel Barden’s right to see his eighth birthday. -- Jim Himes
WNY is far from broke. People confuse the lack of working capital in our local government with the actual wealth of the residents.
This country is wealthy, even in WNY.
If the residents treated their businesses like our politicians treated theirs, we'd all be broke.
I love how some people are actually AMAZED that everyone in WNY is NOT broke....
Funny how the "news" can distort people's views of reality
The truth from a troll is still the truth.
Originally posted by LaNdReW
Aggressive estimate at www.mandt.com
70k a year gross income
10k a year taxes
6% 30 year mtg
$11,500 down, max loan amount is $230,144.00 ($2041/mo)
$71,500 down, max loan amount is $357,703.00 ($2624/mo)
No car payments or insurance included.
Then, there are silly things like income/payroll tax, food and stuff like that.
Yes but if thier partner also works for us in some other department making $50,000 to $60,000 a year they can. I know in our town a lot of family seems to work
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There's a big difference between "broke" and "$400,000" houses.Originally posted by Trolls_r_us
I love how some people are actually AMAZED that everyone in WNY is NOT broke....
Funny how the "news" can distort people's views of reality
What's the median annual household income in Buffalo? Erie county? Probably closer to broke then having a mortgage on a $400,000 house.
The difference between taxes and robbery is the mode of coercion.
I think a common misconception is that a family making $110,000 per year is "a lot" of money. Really, it isn't enough to put a family into the bracket that it would take to responsibly afford such a house in WNY. Most families making around that much live in a "nice" home - the $200K to $250K range, and the rest goes into investments and savings. Lets take Roger Kaiser for example...this is his house, assessed at $600,000:Originally posted by WNYresident
Yes but if thier partner also works for us in some other department making $50,000 to $60,000 a year they can. I know in our town a lot of family seems to work
http://www.erie.gov/clarence/assessm...10700001083000
he makes $312,000 per year. His wife makes $137,000 from the hospital ALONE. Thats $449,000 per year at a minimum.
There are a couple of interesting ones in my list though...one of those is Gerald Lauria, who is a partner/pediatrician at WNY peds. The typical salary for a pediatrician in this area is about $120,000 to $150/$160,000 - more if you specialize. His house:
http://rusabuffalo.leadmaxx.lantrax....TOKEN=36236466
arguably one of the nicest in all of WNY due to the best plot of land i have seen. Nicer than the Lewiston Escarpment.
also, do a search for lawyers on superpages.com. I believe that there are about as many lawyers as there are doctors in the area.
Excellent post, erieman.
The one you forgot is George and Marguerite Hambleton. (sp?) She's the head of AAA. He owns (owned?) a business, but I can't remember which.Originally posted by ERIEMAN
You can't afford a $400,000 house on that small of a salary, unless you are pumping all of your disposable income into the property...
public information gathered from the internet:
cant remember name, owner brand names:
http://www.amherst.ny.us/govt/assess...61200006065000
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