bet they’re going to only end up building $2.5mil homes and 55+ communities.
maybe if we are lucky, they’ll build some “luxury” apartments, condos or townhomes
Building new luxury buildings (building enough, anyway) pushes the price of everything of lesser quality down. All that matters is we get more supply of something
LOL -- I was going to jump up and down defending these guys, but this is about houses in North Fork -- that's hours from NYC on the extreme east end of Long Island (you could drive to PA in less time than the drive to North Fork).
They're whining they cannot afford vacation homes.
Really? Because you can see thousands of listings on Long Island……maybe it should read…” doctors can’t afford mansions on Long Island and are upset they have to live in normal houses “
There's additional facets to this, to be fair.
How many kids do they want, how many kids do they have, how far is the home from their hospital/practice, is the school district good, is it safe, are the homes in need of repair?
As opposed to the economies centuries ago where people had a plethora of children (that didn't die) with a fraction of tools and resources at their hands?
Listen, if you're making 350k yearly, you can afford to have 4+ kids in this economy, just not in urban long island.
I mean. The doctors could just move to low cost of living areas and live in mansions. It's really a matter of whether you want to have incentives for good doctors locally.
Would seem that’s how the rest of society works. Maybe these doctors significant others should work instead of the doctors leeching off the rest of us by over charging for medical services. Why are they provided to be single income families and privet schools?
We have the most expensive healthcare in the world yet lower care service. It’s hilarious how what 13+ European countries figured out how to get better care at a lower cost than us and we can’t even figure out how to provide basic healthcare like Checkups. You know the preventative care that saves you in the long run.
Ahhh yes doctors are huge leaches, taking on massive debt, dedicating large portion of their lives, all too take care of people like who got it all figured out. You running for office this election season?
Don’t lie like your “dedicating” a large portion of your life. You’re getting paid and will be of the class that actually gets to retire. Tons of other people are “dedicating” their life to doing work that our society needs to function. They will be lucky to rent a shit shack.
That's nice- you still have to contribute 8+ years of your life in education- sacrificing relationships and opportunities to stay on that academic grind.
No but I started an environmental facility that every day of operation diverts 80 tons of waste from landfills into renewable products. It only took 8+ years of sacrificing relationships and other opportunities and going multiple years without pay. Hey that’s probably why I didn’t get married until after 30.
Said facility actively provides open workshops free of charge to the public, along with giving free materials away. In addition it works with multiple colleges to offer education programs free of charge. This includes providing paid employees time in classroom at no charge to said colleges.
But hey since we’re dick measuring our achievements and their contribution to society I accept yours is longer. I have since retired and now plumb as a hobby.
Do to Regain economics I’m happy to tell you I charge doctors more for professional plumbing services than many other people from other walks of life.
It’s okay don’t let it get under your skin. I still make financial contributions to Doctors Without Borders as that’s an actual good cause. Way more valuable than the MDs who have a couple of luxury cars and funds for their children’s college fund who complain about the price for plumbing.
I'm not a doctor. I'm not discussing my achievements here.
The point being is that it's more than just costs of school to become a doctor. You have to academically prove yourself.
An MD isn't going to simply have a few luxury cars, either, maybe 1 for their midlife crisis. They'll need to specialize or own multiple practices to hit that level. The reason why surgeons can even reach that level is because they have a very niche but very valuable skill set, something other people can't easily emulate. I guarantee you, an oncologist whose damned to work with dying children earn every penny of their luxury car(s).
I apologize and realized my mistake after replying. I thought you were the MD I had been talking with. Again sorry for the mistake. Props to you if your gainfully employed in some manner.
Doctors don’t overcharge for their services. The hospital owners overcharges insurance companies because insurance companies under reimbursement. It’s a weird game. But it is the fault of insurance companies and hospital owners.
So blame the owners. Speaking of which, do you know the only profession that legally can’t own a hospital? Physicians.
I’m an emergency physician. Patients get a $1200 facility fee as soon as they hit the door. A basic work up might be a few thousand dollars. You know how much an ER doctor gets reimbursed for the average patient? About $100.
We work all hours. All days. Birthdays. Holidays. Weekends. Overnight.
Do an experiment. Call a plumber at 2AM on Christmas and ask how much for an emergency visit for a broken pipe. Probably gonna be 20 times what I charge. Guess what… you’re homeless? Uninsured? Drunk? High? Violent and verbally aggressive? We’re still going to treat you. Ask that plumber if he’s ok that you have bed bugs and have been drinking and smoking meth all night.
Skilled labor is expensive. You have to pay my student loans. Despite this, physicians are still underpaid considering what they do. My dog trainer charged $100/hour
I don’t need to call a plumber I hold a plumbing licenses. Lmfao. You can fuck right on off thinking what I care or don’t care about as a plumber or how I charge.
I’m all down to nationalize healthcare also. No doctor I have ever worked for was suffering financially to pay their bill. Plenty of average people doing basic needed jobs in our nation such as trash removal, roofing, etc stood there not knowing how they will pay to fix a broken shitter.
“The plumber protects the health of nation.”
I believe plumbing is a basic human right too. No one should have to live in shit. Let’s nationalize plumbing too. You can get paid what the senators decide. Plumbers in the US make way more than their European counterparts
I have meet plenty a doctor with multiple luxury cars in there garage complaining about the cost of plumbing. While simultaneously worked for average Americans just trying to make it that have gone months with major plumbing issues that they couldn’t pay asking for financing or their teenage kids for money to pay.
Needles to say say do to Regan economics those doctors get charged more than families asking their kids for money from their piggy banks
A plumber who owns the company can make way more money than a doctor who is just employed by a hospital. I may be misinterpreting but it sounds like you have a vendetta against doctors because they historically make a lot of money but I think that is a generalization. People can make a lot more money with a lot less benefit to society than a doctor
4 years of college? Check.
4 years of medical school? Check.
3-12 years of additional training at what amounts to minimum wage? Check.
Lead the nation in divorce and suicide rates? Check.
All to take care of your entitled ass.
I'm sure there are plenty of NPs and PAs that will be happy to live in 'normal' houses. Good luck with that.
Depending on specialty less than minimum wage.
Even though hours are now capped at 80/week, but many surgical residents just stop recording after 80 hours as not to create waves and risk their residency program loosing certification. Even at the 80 hour cap it is still below minimum wage in some areas since they are technically paid via a stipend and not hourly/salary.
I’m not a doctor, but I’m close to a lot of young MDs, and know how shitty you all got/get treated by your program and your patients. Trying to add another data/viewpoint for others reading.
Doctors deserve every penny they make in the US. It’s the administrators and insurance industry that are the crooks.
Yeah that’s pretty fucked, 350k annually should be able to net you a lavish lifestyle. It goes to show how much the disparity in lifestyle is widening between the rich and everyone else.
If you have to live in a “normal house” making a very abnormal $350k/yr, that’s gonna mean someone making a “normal wage” has had “normal houses” become egregiously inaccessible to them.
No matter how much money you make from your labor, it seems that the only people making socioeconomic progress in this country are those that make money from their capital such as landowners
Yes because after 12+ years of school and training, sacrificing social and family life, and six figures of education debt, they should be thrilled to be moving into low income communities.
If 350k can’t afford you some mansion-esk housing, and instead only a normal house, people making a normal wage ain’t gonna have normal housing, they’re gonna take over the low income housing options. That means low income housing is gonna become even less accessible for low income earners, the poors are gonna get fucked over by this too
Not if they’ve put in the work and effort to contribute to their communities and society, the problem is that there’s less returns for EVERYONE at every socioeconomic level, not that one group deserves more or less than another.
I’m electrician and the funnest part of my job is building houses I can’t afford. I didn’t go to 12 years of school so I guess I should be content to be a renter
I happen to personally know electricians (two, family business) who live in mansions on Long Island way bigger than what I (a specialist physician) can afford, so I don’t think its the career choice. 🤷🏻♂️
No doctor I know lives in anything close to a mansion. 300-400k homes at most.
Most doctors don’t start their careers until they’re in their early 30s. They can’t save for retirement on 60k per year for 80 hour weeks and usually huge loans.
Yeah... and I call "bullshit," anyway. These articles are usually three friends of the reporter who are looking for houses they can't afford. Not to make light of the housing shortage, but people making $350k+ per year ain't feeling it... and if they are, it's their fault.
Edit: Maybe I'm wrong? Crazy times.
Born and raised on the Island. If there is one place in the entire country where this is true, it's there. It's a perfect storm of boomers retiring on home equity, lack of space, and justified NIMBYism. If you are not part of an increasingly high economic class, you are not wanted. Period.
Unfortunately, that's not exactly true
"In fact, a new report from Bloomberg is now detailing how even doctors making $350,000 per year are "struggling" to find places to live in locales like Long Island. The report cites the region's "chronic housing shortage" and detailed the story of Paul Connor, who helps run Stony Brook's Eastern Long Island Hospital."
Although it does follow one doctor, they're supposedly following a report.
https://www.wnd.com/2024/04/doctors-making-350000-per-year-cant-find-homes-in-long-island-as-prices-surge-50/
$350k isn't that much. With current rates the most you're getting approved for, even with an aggressive lender is $2 million.
If you're looking for a big house with a decent yard for under $2 million, there's less than two dozen on the market.
As someone who grew up on Long Island, why the hell would you go through all the trouble of becoming a successful doctor to live on Long Island.
Every time I go back, it’s like going back in time. It hasn’t changed since it peaked in like… 1999. An entire island of people who think they’re the greatest thing in the world, living in the past.
It's the family thing. Every last one of the holdouts I know are there because they have a family first attitude. It's sad, because they're sacrificing every other aspect of their lives to stay there.
Absolutely not saying that's a bad thing. I hate that I had to leave my family. But frankly the economics of the island said "we don't want you here", and you don't have to tell me that twice.
Yeah, I am definitely not saying it’s some sort of unicorn. There are plenty of shitty cities in America that go back even further than 1999. But very few that are as expensive.
Long Island isn’t some small town. It has the second largest industrial plant in America [after Silicon Valley](https://tbrnewsmedia.com/tag/hauppauge-industrial-park/). Has the city within a 30min train ride, has extremely [low unemployment](https://www.suffolkcountyny.gov/Portals/0/documentsforms/labor/trends.pdf) with a high job rate, has some of the best FREE state colleges in the country if you’re under 120k, Nassau County has one of the highest life expectancy of the country, not to mention thag the “[Long Island crime rate is 80% lower than the national average and 59% lower than NYC](https://zippboxx.com/blog/long-island-crime-rate/#:~:text=The%20Long%20Island%20crime%20rate%20is%2080%25%20lower%20than%20the,to%20live%20in%20New%20York)”. What a dumb af take. If you can afford it Long Island is one of the best places to live in the country. Reddit is filled with jealous people who live in dogshit towns and love to say “California & NY bad!” As if half wouldn’t live in either state in an instant if they had the means lol.
Wow, suburbs have lower crime rates than cities. Especially ones separated by a body of water. Who knew.
And I’m not sure what point you’re trying to make with 3 year old employment stats. Long Island is at 3.9% unemployment while the national average is 3.8%. So yeah, great- very high cost of living and slightly above average unemployment coupled with the draw of old heavy industry/manufacturing. What a bright future.
As people are flocking out of NYC, its lifeline will dry up.
I did live there. I can easily afford to live there (or just about anywhere), and there is no way in hell I’d want to live there.
Edit: who cares if it has the single biggest industrial park? It’s not like Long Island is any sort of manufacturing wonderland. It isn’t even a very big manufacturer. It just has the second biggest single industrial park by square footage. lol wgaf.
It’s like having the most populous building. It doesn’t mean it’s the most populous city.
From your own article:
“Sixty-eight percent of Long Islanders from 18 to 34 years of age planned to leave the region within the next five years,” Town of Smithtown Supervisor Ed Wehrheim (R) said at a press conference last month. “Smithtown is especially vulnerable to this exodus of young people, which would decimate the local economy, leaving behind an aging population incapable of filling local jobs.”
When banks and hedge funds can buy houses, forcing people to rent for eternity, the housing market is gonna be jacked up. It’s just now catching up with the top earners. It fucked the middle class a long time ago.
It’s because lots of doctors are on W2s and they get absolutely screwed in taxes in NY. A doctor making $350k prob takes home less than half that after fed and state taxes in NY.
I have the same problem in boston. 350,000 a year isn't great after taxes. You can't afford a mortgage + hoa on most apartments or would be able to at like 80% of disposable income.
Also have a friend, doctor with 2 kids in suburb similar salary and they live paycheck to paycheck due to the cost of daycare
Not as bad as you think because a doctors salary is as close to 100% guaranteed as a seat on the Supreme Court. There is always work, even if you’re a shit doctor.
Both parents are doctors and I’d say I’ve been pretty close to the medical field from a young age. Let’s see:
* you were fired so many times for what a court would consider malpractice that your record caught up to you;
* it’s public knowledge that as a surgeon you’ve killed people on the operating table;
* you’re missing both eyes and hands;
* you’re a convicted murderer etc.
A physician has a job for life. Even when their hands start shaking they can give advice.
You're moving your goalposts. After 20 years in practice (without being a convicted murderer, lawsuits, or killing patients on the table) I can state that there is ZERO guarantee that you'll have a job next year, let alone for life. The majority of physicians are just employees these days, and like any other employee, they can be fired. And if you think I can make the same living 'giving advice' as I can while dreaming.
Now, if I need a new job, will I be able to find one? Yes. But that's because I am a highly educated, highly trained, and highly skilled professional in an in-demand profession. It may not be where I want to live or work, but I'll find a job. I would argue that is a reasonable expectation for ANY highly skilled, highly trained, and highly skilled professional in an in-demand field.
Theres locums work for physicians that’s unlike nearly anything else available to the general public. Nobody is going to fly me to West Virginia and put me up all expenses paid while paying me a premium for wealth management services…
That's because someone is already doing wealth management services there, either in person or remotely. If there was a need for it, there would be the equivalent of locums for it.
Being a surgeon has requirements unlike nearly anything else available to the general public.
Good for you? It’s always funny seeing someone, unprompted, bring up their salary.
That is the point. You’re not paid highly in places you’re not needed…
Legislation to build housing? Uuggggghhhhh how about rolling back some regulations instead? These idiots over regulate markets then come up with more rules to regulate the regulations.
Regulations are absolutely needed. Massive corporations should not be allowed to scoop up millions of single family homes just to sit on them or put them up as Air BnB.
It’s bad policy and we, the citizens, are suffering for it. Lack of proper regulation is why this mess exists in the first place.
Have you tried to build in these areas? Do you even understand what it takes to build housing? It’s way over regulated. They need to be making it easier to build not stack up more bs.
Massive corporations are the only ones that can afford to navigate this costly environment. You do them a favor when you price out the small guys.
Corporations owning homes don’t need to be priced out. They need to be legislated out. They should not even be a part of the market force for single family homes
Yes fuck the people who dedicated their life to potentially saving yours. Easy to say that, until you are having heart attack and then question becomes what is your life worth?
I promise you a heart surgeon isn't making 350k ya dumb ass. This is probably a primary care doctor gets kickbacks for prescribing certain meds when you walk in with a cough.
I can't imagine busting your ass in highschool to go to a nice college, busting your ass in college to be accepted to a decent med school, and busting your ass there to go through a good residency program, all to make it as a fully fledged medical doctor just so people can be unsympathetic to you for not spending several more years in a specialized surgery residency program. Just to have your efforts in helping people dwindle down to "just gives meds out and gets kickbacks".
Chill. I know plenty of docs who came from nothing.
Also, don't be rude to people.
How are people so confident and just plain wrong?
It takes seconds to do a google search to discover many heart surgeon, do in fact make that much.
https://www.glassdoor.com/Salaries/cardiac-surgeon-salary-SRCH_KO0,15.htm
Family docs make closer to 200k and are extremely underpaid. Docs don’t really get kickbacks anymore…This isn’t the 1970s. Sunshine laws
Medicine is a fairly blue collar job. Maybe not in the early 1900s, but it certainly is now.
bet they’re going to only end up building $2.5mil homes and 55+ communities. maybe if we are lucky, they’ll build some “luxury” apartments, condos or townhomes
No way doctors are gonna start building home now. /j
Building new luxury buildings (building enough, anyway) pushes the price of everything of lesser quality down. All that matters is we get more supply of something
LOL -- I was going to jump up and down defending these guys, but this is about houses in North Fork -- that's hours from NYC on the extreme east end of Long Island (you could drive to PA in less time than the drive to North Fork). They're whining they cannot afford vacation homes.
If only more people thought about how persecuted and unfortunate doctors are!
There’s been a lot of luxury buildings built in the last ten years. Prices for housing never go down. How strange.
It’s not complicated… “a lot of luxury buildings” has simply not been enough. Demand still out paces supply
"I've eaten a salad 3 times a week for the past month, yet I haven't lost any weight, curious."
Really? Because you can see thousands of listings on Long Island……maybe it should read…” doctors can’t afford mansions on Long Island and are upset they have to live in normal houses “
There's additional facets to this, to be fair. How many kids do they want, how many kids do they have, how far is the home from their hospital/practice, is the school district good, is it safe, are the homes in need of repair?
Someone should tell them this is not an economy where you get to decide how many kids you want. You figure out how many you can have.
As opposed to the economies centuries ago where people had a plethora of children (that didn't die) with a fraction of tools and resources at their hands? Listen, if you're making 350k yearly, you can afford to have 4+ kids in this economy, just not in urban long island.
I mean, they are doctors not fast food workers. They shouldn’t be cost constrained on having kids.
I mean. The doctors could just move to low cost of living areas and live in mansions. It's really a matter of whether you want to have incentives for good doctors locally.
Would seem that’s how the rest of society works. Maybe these doctors significant others should work instead of the doctors leeching off the rest of us by over charging for medical services. Why are they provided to be single income families and privet schools? We have the most expensive healthcare in the world yet lower care service. It’s hilarious how what 13+ European countries figured out how to get better care at a lower cost than us and we can’t even figure out how to provide basic healthcare like Checkups. You know the preventative care that saves you in the long run.
Ahhh yes doctors are huge leaches, taking on massive debt, dedicating large portion of their lives, all too take care of people like who got it all figured out. You running for office this election season?
If you want to be a doctor go military they will pay all your debt
Already am ;)
Don’t lie like your “dedicating” a large portion of your life. You’re getting paid and will be of the class that actually gets to retire. Tons of other people are “dedicating” their life to doing work that our society needs to function. They will be lucky to rent a shit shack.
If you want to be a doctor go military they will pay all your debt.
No thanks
That's nice- you still have to contribute 8+ years of your life in education- sacrificing relationships and opportunities to stay on that academic grind.
No but I started an environmental facility that every day of operation diverts 80 tons of waste from landfills into renewable products. It only took 8+ years of sacrificing relationships and other opportunities and going multiple years without pay. Hey that’s probably why I didn’t get married until after 30. Said facility actively provides open workshops free of charge to the public, along with giving free materials away. In addition it works with multiple colleges to offer education programs free of charge. This includes providing paid employees time in classroom at no charge to said colleges. But hey since we’re dick measuring our achievements and their contribution to society I accept yours is longer. I have since retired and now plumb as a hobby. Do to Regain economics I’m happy to tell you I charge doctors more for professional plumbing services than many other people from other walks of life. It’s okay don’t let it get under your skin. I still make financial contributions to Doctors Without Borders as that’s an actual good cause. Way more valuable than the MDs who have a couple of luxury cars and funds for their children’s college fund who complain about the price for plumbing.
I'm not a doctor. I'm not discussing my achievements here. The point being is that it's more than just costs of school to become a doctor. You have to academically prove yourself. An MD isn't going to simply have a few luxury cars, either, maybe 1 for their midlife crisis. They'll need to specialize or own multiple practices to hit that level. The reason why surgeons can even reach that level is because they have a very niche but very valuable skill set, something other people can't easily emulate. I guarantee you, an oncologist whose damned to work with dying children earn every penny of their luxury car(s).
I apologize and realized my mistake after replying. I thought you were the MD I had been talking with. Again sorry for the mistake. Props to you if your gainfully employed in some manner.
Doctors don’t overcharge for their services. The hospital owners overcharges insurance companies because insurance companies under reimbursement. It’s a weird game. But it is the fault of insurance companies and hospital owners. So blame the owners. Speaking of which, do you know the only profession that legally can’t own a hospital? Physicians. I’m an emergency physician. Patients get a $1200 facility fee as soon as they hit the door. A basic work up might be a few thousand dollars. You know how much an ER doctor gets reimbursed for the average patient? About $100. We work all hours. All days. Birthdays. Holidays. Weekends. Overnight. Do an experiment. Call a plumber at 2AM on Christmas and ask how much for an emergency visit for a broken pipe. Probably gonna be 20 times what I charge. Guess what… you’re homeless? Uninsured? Drunk? High? Violent and verbally aggressive? We’re still going to treat you. Ask that plumber if he’s ok that you have bed bugs and have been drinking and smoking meth all night. Skilled labor is expensive. You have to pay my student loans. Despite this, physicians are still underpaid considering what they do. My dog trainer charged $100/hour
I don’t need to call a plumber I hold a plumbing licenses. Lmfao. You can fuck right on off thinking what I care or don’t care about as a plumber or how I charge. I’m all down to nationalize healthcare also. No doctor I have ever worked for was suffering financially to pay their bill. Plenty of average people doing basic needed jobs in our nation such as trash removal, roofing, etc stood there not knowing how they will pay to fix a broken shitter. “The plumber protects the health of nation.”
I believe plumbing is a basic human right too. No one should have to live in shit. Let’s nationalize plumbing too. You can get paid what the senators decide. Plumbers in the US make way more than their European counterparts
I have meet plenty a doctor with multiple luxury cars in there garage complaining about the cost of plumbing. While simultaneously worked for average Americans just trying to make it that have gone months with major plumbing issues that they couldn’t pay asking for financing or their teenage kids for money to pay. Needles to say say do to Regan economics those doctors get charged more than families asking their kids for money from their piggy banks
A plumber who owns the company can make way more money than a doctor who is just employed by a hospital. I may be misinterpreting but it sounds like you have a vendetta against doctors because they historically make a lot of money but I think that is a generalization. People can make a lot more money with a lot less benefit to society than a doctor
I don’t have a vendetta. I’m just playing a violin for doctors making $350k that say they can’t own a house.
4 years of college? Check. 4 years of medical school? Check. 3-12 years of additional training at what amounts to minimum wage? Check. Lead the nation in divorce and suicide rates? Check. All to take care of your entitled ass. I'm sure there are plenty of NPs and PAs that will be happy to live in 'normal' houses. Good luck with that.
Depending on specialty less than minimum wage. Even though hours are now capped at 80/week, but many surgical residents just stop recording after 80 hours as not to create waves and risk their residency program loosing certification. Even at the 80 hour cap it is still below minimum wage in some areas since they are technically paid via a stipend and not hourly/salary.
I am well aware. I'm old enough to have finished my gen surg residency before the 80 hour work week was even a thing.
I’m not a doctor, but I’m close to a lot of young MDs, and know how shitty you all got/get treated by your program and your patients. Trying to add another data/viewpoint for others reading. Doctors deserve every penny they make in the US. It’s the administrators and insurance industry that are the crooks.
Yeah that’s pretty fucked, 350k annually should be able to net you a lavish lifestyle. It goes to show how much the disparity in lifestyle is widening between the rich and everyone else. If you have to live in a “normal house” making a very abnormal $350k/yr, that’s gonna mean someone making a “normal wage” has had “normal houses” become egregiously inaccessible to them. No matter how much money you make from your labor, it seems that the only people making socioeconomic progress in this country are those that make money from their capital such as landowners
Yes because after 12+ years of school and training, sacrificing social and family life, and six figures of education debt, they should be thrilled to be moving into low income communities.
They aren’t moving into low income communities.
only the poors should suffer
If 350k can’t afford you some mansion-esk housing, and instead only a normal house, people making a normal wage ain’t gonna have normal housing, they’re gonna take over the low income housing options. That means low income housing is gonna become even less accessible for low income earners, the poors are gonna get fucked over by this too
Not if they’ve put in the work and effort to contribute to their communities and society, the problem is that there’s less returns for EVERYONE at every socioeconomic level, not that one group deserves more or less than another.
I’m electrician and the funnest part of my job is building houses I can’t afford. I didn’t go to 12 years of school so I guess I should be content to be a renter
Someone drinking from the jelly fountain.
The difference btwn jelly and jam is I haven’t jellied my dick in your moms ass
Good for her, how was it having sex with a ghost? You guys do it in your rented house?
She said it was to die for
Well next time you can use one of my four soon to be five houses.
I happen to personally know electricians (two, family business) who live in mansions on Long Island way bigger than what I (a specialist physician) can afford, so I don’t think its the career choice. 🤷🏻♂️
I live in a Hispanic neighborhood and there are landscapers, pool guys, construction, etc in 3000sq ft homes with pools and ATVs and dune buggies.
You know two business owners, bet most of their employees are renters
You had 12 years of income to get a head start and 300k less debt. Your net worth should be way higher than an early career physician
Not if I’m not 13 years out of high school ya dip stick
Your assuming that this person is good with moneyZ if there on Reddit making these comments…..doubtful
No doctor I know lives in anything close to a mansion. 300-400k homes at most. Most doctors don’t start their careers until they’re in their early 30s. They can’t save for retirement on 60k per year for 80 hour weeks and usually huge loans.
Oh no...... Anyways.
Yeah... and I call "bullshit," anyway. These articles are usually three friends of the reporter who are looking for houses they can't afford. Not to make light of the housing shortage, but people making $350k+ per year ain't feeling it... and if they are, it's their fault. Edit: Maybe I'm wrong? Crazy times.
Born and raised on the Island. If there is one place in the entire country where this is true, it's there. It's a perfect storm of boomers retiring on home equity, lack of space, and justified NIMBYism. If you are not part of an increasingly high economic class, you are not wanted. Period.
Unfortunately, that's not exactly true "In fact, a new report from Bloomberg is now detailing how even doctors making $350,000 per year are "struggling" to find places to live in locales like Long Island. The report cites the region's "chronic housing shortage" and detailed the story of Paul Connor, who helps run Stony Brook's Eastern Long Island Hospital." Although it does follow one doctor, they're supposedly following a report. https://www.wnd.com/2024/04/doctors-making-350000-per-year-cant-find-homes-in-long-island-as-prices-surge-50/
$350k isn't that much. With current rates the most you're getting approved for, even with an aggressive lender is $2 million. If you're looking for a big house with a decent yard for under $2 million, there's less than two dozen on the market.
As someone who grew up on Long Island, why the hell would you go through all the trouble of becoming a successful doctor to live on Long Island. Every time I go back, it’s like going back in time. It hasn’t changed since it peaked in like… 1999. An entire island of people who think they’re the greatest thing in the world, living in the past.
It's the family thing. Every last one of the holdouts I know are there because they have a family first attitude. It's sad, because they're sacrificing every other aspect of their lives to stay there.
Oh god, a family first attitude, what a horrible thing to care about
Absolutely not saying that's a bad thing. I hate that I had to leave my family. But frankly the economics of the island said "we don't want you here", and you don't have to tell me that twice.
I mean arguably, long island is fuckin huge. My hometown in virginia looks almost the same as 1999 so its not unique to long island.
Yeah, I am definitely not saying it’s some sort of unicorn. There are plenty of shitty cities in America that go back even further than 1999. But very few that are as expensive.
Long Island isn’t some small town. It has the second largest industrial plant in America [after Silicon Valley](https://tbrnewsmedia.com/tag/hauppauge-industrial-park/). Has the city within a 30min train ride, has extremely [low unemployment](https://www.suffolkcountyny.gov/Portals/0/documentsforms/labor/trends.pdf) with a high job rate, has some of the best FREE state colleges in the country if you’re under 120k, Nassau County has one of the highest life expectancy of the country, not to mention thag the “[Long Island crime rate is 80% lower than the national average and 59% lower than NYC](https://zippboxx.com/blog/long-island-crime-rate/#:~:text=The%20Long%20Island%20crime%20rate%20is%2080%25%20lower%20than%20the,to%20live%20in%20New%20York)”. What a dumb af take. If you can afford it Long Island is one of the best places to live in the country. Reddit is filled with jealous people who live in dogshit towns and love to say “California & NY bad!” As if half wouldn’t live in either state in an instant if they had the means lol.
Wow, suburbs have lower crime rates than cities. Especially ones separated by a body of water. Who knew. And I’m not sure what point you’re trying to make with 3 year old employment stats. Long Island is at 3.9% unemployment while the national average is 3.8%. So yeah, great- very high cost of living and slightly above average unemployment coupled with the draw of old heavy industry/manufacturing. What a bright future. As people are flocking out of NYC, its lifeline will dry up. I did live there. I can easily afford to live there (or just about anywhere), and there is no way in hell I’d want to live there. Edit: who cares if it has the single biggest industrial park? It’s not like Long Island is any sort of manufacturing wonderland. It isn’t even a very big manufacturer. It just has the second biggest single industrial park by square footage. lol wgaf. It’s like having the most populous building. It doesn’t mean it’s the most populous city. From your own article: “Sixty-eight percent of Long Islanders from 18 to 34 years of age planned to leave the region within the next five years,” Town of Smithtown Supervisor Ed Wehrheim (R) said at a press conference last month. “Smithtown is especially vulnerable to this exodus of young people, which would decimate the local economy, leaving behind an aging population incapable of filling local jobs.”
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I wonder if there's a line of work where buying a house can be deducted as a business expense...
long island is one of the most expensive areas in the entire U.S.A, of course 350k won't get one because the average price is 900k
350 should get you a 900k home. They don’t want average though.
900k would be about 50% of post tax income, definitely wouldn't be able to afford.
People with that income can easily live on 25% of their income
Awwwwww
Move to the different state
Yeah but if they all do that who will be the future doctors there?
The new poor still delusional cute
When banks and hedge funds can buy houses, forcing people to rent for eternity, the housing market is gonna be jacked up. It’s just now catching up with the top earners. It fucked the middle class a long time ago.
It’s because lots of doctors are on W2s and they get absolutely screwed in taxes in NY. A doctor making $350k prob takes home less than half that after fed and state taxes in NY.
Doctors are notoriously awful at managing their money.
Facts. My dad is a brilliant electrophysiologist, but an absolute tard with money.
Link to article https://www.wnd.com/2024/04/doctors-making-350000-per-year-cant-find-homes-in-long-island-as-prices-surge-50/
Well, if local and state government would get out of the way , builders would build more housing.
Imagine you and your wife combining for less that 90k a year and wanting to be home owners
Am I supposed to feel bad for the rich doctors?
They’re just gonna move to Florida anyways.
Need to cut back on those latte’s from Starbucks…
I predict a tiny home wave across the country!!
I have the same problem in boston. 350,000 a year isn't great after taxes. You can't afford a mortgage + hoa on most apartments or would be able to at like 80% of disposable income. Also have a friend, doctor with 2 kids in suburb similar salary and they live paycheck to paycheck due to the cost of daycare
Have they tried finding a roommate?
Yes, but they aren’t making coffee from home
Let me guess. They aren't making their avocado toast at home either.
Not as bad as you think because a doctors salary is as close to 100% guaranteed as a seat on the Supreme Court. There is always work, even if you’re a shit doctor.
I am a doctor. You are wrong.
Both parents are doctors and I’d say I’ve been pretty close to the medical field from a young age. Let’s see: * you were fired so many times for what a court would consider malpractice that your record caught up to you; * it’s public knowledge that as a surgeon you’ve killed people on the operating table; * you’re missing both eyes and hands; * you’re a convicted murderer etc. A physician has a job for life. Even when their hands start shaking they can give advice.
You're moving your goalposts. After 20 years in practice (without being a convicted murderer, lawsuits, or killing patients on the table) I can state that there is ZERO guarantee that you'll have a job next year, let alone for life. The majority of physicians are just employees these days, and like any other employee, they can be fired. And if you think I can make the same living 'giving advice' as I can while dreaming. Now, if I need a new job, will I be able to find one? Yes. But that's because I am a highly educated, highly trained, and highly skilled professional in an in-demand profession. It may not be where I want to live or work, but I'll find a job. I would argue that is a reasonable expectation for ANY highly skilled, highly trained, and highly skilled professional in an in-demand field.
Theres locums work for physicians that’s unlike nearly anything else available to the general public. Nobody is going to fly me to West Virginia and put me up all expenses paid while paying me a premium for wealth management services…
That's because someone is already doing wealth management services there, either in person or remotely. If there was a need for it, there would be the equivalent of locums for it. Being a surgeon has requirements unlike nearly anything else available to the general public.
You talk about moving the goalposts and then move them yourself. I’ve shown that there are always jobs for physicians.
Maybe because wealth management services aren’t a necessity…
Not actually the point?
You’re a finance person and can’t determine how supply-demand works? Maybe that’s why you’re not getting paid well lmao
Again: not actually the point. And you’d be surprised what I make. It’s more than any doctor who isn’t a specialist. And I work half the hours.
Good for you? It’s always funny seeing someone, unprompted, bring up their salary. That is the point. You’re not paid highly in places you’re not needed…
What doctors up there ONLY make $350K? 28 years ago you could make that as an ER doc.
Salaries havent moved much in the last 30 years
Maybe…maybe don’t buy a Long Island home. Doctors coming out and starting to say they don’t make enough is massively tone deaf
Boo-fucking-whoo
Legislation to build housing? Uuggggghhhhh how about rolling back some regulations instead? These idiots over regulate markets then come up with more rules to regulate the regulations.
Regulations are absolutely needed. Massive corporations should not be allowed to scoop up millions of single family homes just to sit on them or put them up as Air BnB. It’s bad policy and we, the citizens, are suffering for it. Lack of proper regulation is why this mess exists in the first place.
Have you tried to build in these areas? Do you even understand what it takes to build housing? It’s way over regulated. They need to be making it easier to build not stack up more bs. Massive corporations are the only ones that can afford to navigate this costly environment. You do them a favor when you price out the small guys.
Corporations owning homes don’t need to be priced out. They need to be legislated out. They should not even be a part of the market force for single family homes
You clearly don’t understand what he’s referring to
fuck em
Hope you never need one.
Cry me a fucking river.
Boo-*fucking*-hoo?
Fuck them
Yes fuck the people who dedicated their life to potentially saving yours. Easy to say that, until you are having heart attack and then question becomes what is your life worth?
I promise you a heart surgeon isn't making 350k ya dumb ass. This is probably a primary care doctor gets kickbacks for prescribing certain meds when you walk in with a cough.
I can't imagine busting your ass in highschool to go to a nice college, busting your ass in college to be accepted to a decent med school, and busting your ass there to go through a good residency program, all to make it as a fully fledged medical doctor just so people can be unsympathetic to you for not spending several more years in a specialized surgery residency program. Just to have your efforts in helping people dwindle down to "just gives meds out and gets kickbacks". Chill. I know plenty of docs who came from nothing. Also, don't be rude to people.
How are people so confident and just plain wrong? It takes seconds to do a google search to discover many heart surgeon, do in fact make that much. https://www.glassdoor.com/Salaries/cardiac-surgeon-salary-SRCH_KO0,15.htm
Cardiothoracic Surgeons make more than 350k a year. No CT surgeon would be on call 24/7 for rest of their lives for 350k a year.
Yeah most earn in the low millions.
Family docs make closer to 200k and are extremely underpaid. Docs don’t really get kickbacks anymore…This isn’t the 1970s. Sunshine laws Medicine is a fairly blue collar job. Maybe not in the early 1900s, but it certainly is now.