teacher in (real estate) distress

Is this the rite blog 4 U? Not to exclude anyone, but here people talk of 4 to 6 K rent like nothing.

Are you sure your apartment is being derequlated legally? As for another place, it would be helpful if you said what neighborhood you work in and what area you now live in. But try 3333 Broadway / 625 West 133rd St. It's a cluster of ex-Mitchell-Lama rentals, known as Riverside Community -- lots of nice river views. Very middle-class tenancy. Sorry, I don't have contact info but the senior center in the complex (212-862-5562) can probably give you the management number.

How about Riverdale (Bronx), Forest Hills (Queens), or Bayside (Queens)? All affordable, family oriented, with large middle class populations, and easy commutes to Manhattan.

Maybe the upper Upper West Side or Morningside Park. Even on the big realtor websites I've seen some attractive older properties very inexpensive & with income restrictions. The city doesn't have any programs to help its' workers? Might the teacher's union know something? Good luck to you. It's a very important, difficult job you're doing. This is a great website & hopefully it will help you.

You should make sure about your current apartment...Stuyvesant Town was de-regulated but the tenants in place did not lose their regulated status.

You should probably think about relocating also. They're are very nice places on Long Island and the commute really isn't that bad. You should look into both options because if you relocate you will also get more for your money.

Jersey City or Hoboken. You save the city tax and commuting via path ain't bad.

Relocate to Molokai, Hawaii (they need teachers) and rent our new beach cottage
for 1,040 per month.

Teachers that stay in NYC to do their job are the most commuting-adapted ones, which is not the same that the most apt for the job ones. Bloomberg, are you there?

#11 Aren't you special, you got a big bonus. From your previous post it's obvious that you are a poor excuse for a human being. Enjoy your money (if you can be believed) 'cause that's all you've got.

Jeeze #11 will you do your self and the world a favor? First go get your self sterilized and then a lobotomy. Your hate is enough to corrupt future generations for ever.

#11, I don't know what you think you trade...but most traders don't work 12 hours a day. Unless they are really sloppy and are staying late to reconcile.

#11: so are you telling us that you're self-taught? never went to school? brillant from day one? popped out of the womb & was able to price options? come on, if it weren't for teachers, you wouldn't be were you are now. the teaching profession is one of the most unappreciated occupations. teachers are in the lower-middle class only because the gov't pays them a lower-middle class salary (and subject them to budget cutbacks). the so-called 8-hr shift may be in the classroom but teachers are expected to extend those hrs to parent-teacher mtgs, special ed, marking homework, preparation of curriculum & assignments, etc. i'm a trader myself & it would be embarrassing to be lumped in the same category as you. stop being a bsd & get over yourself.

trading hrs: i don't know abt this guy. but i cover the european, us & asian mkts. my hrs are def more than 12 hrs.

lol, poster 15: "stop being a bsd". #11, I'd bet you've got an itty bitty one and that's why you're so bitter...
My hubby is a trader and we too have been fortunate come bonus time the last few years.
We both grew up going to public schools and graduated from Ivy colleges. I plan to send our children to public schools in Manhattan.

I second the suggestion of Hoboken. Cute, safe neighborhood out there - some cobble stone streets and mostly historic brownstones. Lots of interesting architecture. The commute is faster than Brooklyn or Queens if you teach on the westside.

#16: i'm female so yes, i'm glad i have an "itty bitty one". why shld i feel bitter abt being female? are you?

#16: for someone to gloat that he/she is making a "7 digit bonus" vs the compensation of a teacher and calling teachers "lower-middle class scum" is being a bsd. that's the whole point.

and to clarify, the last 2 posts are from me, poster #15.

ok, #16 here. you misunderstood me, #15. I thought your comment was funny and I agree. I thought by BSD you meant "big swinging D---", and to be called such was a badge of honor at the trading desk I used to work at (says a lot about my former colleauges, I guess).

I meant that #11 has an "itty bitty one"

poster #16: #15 here. sorry, my bad. bsd is def. "big swinging d..." & used as a badge of DIShonor in my context.

Even Bill Gates has to tell Congress educantion in the USA needs an overhaul
http://government.zdnet.com/?p=2953

teaching is an easy gig, that why it is paid less!

#11 and #23 you are disgusting

number 23 is a pig.probably a broker pig who thinks that screwing people is better than teaching our kids. theaching is the most noble profession on earth. too many pigs in new york. it is time to leave hell.

ATTENTION ! Can we try acting adult here & see if we can help this lovely teacher find a reasonable, affordable place to live. p.s. A surprising number of my friends are teachers & it is far from an 8 hour day. Many of them are working 7 days a week with reports, etc.

# 26 you may need to increase the amount of prozac you are taking. Please check with your therapist as soon as posssible before you alter the dosage. Peace.

I always think it's funny when people think teachers have the same hours as their students. That's like saying "Oh, you're a trader. I used to trade things when I was in the second grade. It takes like 90 seconds. There's nothing to it." And then they can't get over the fact that they don't work in the summer. Guess what? Do the math -- they're salaries, although spread over 12 months, are reduced (from a living wage appropriate to their Masters' degrees, workload, and contribution to society) by much more than the 30% of additional time off. Which means in many cases they need to find additional income during that time "off". Anyway, #11/23 clearly has a craven need for attention, and no amount of prozac will cure that.

I'm also a teacher. You should check with the UFT which offers us a good rate on a mortgage through a program for teachers with Bank of America and Citibank. It may be a good idea to buy something. I make about the same and I qualify to buy something around 300k, which could get you a decent place in a lot of good neighborhoods.

Teaching is NOT an 'easy gig'. It's paid so poorly probably because it is still thought of as a woman's field. Anyway...back to finding this nice teacher a place to live! Thanx.

Orig Poster--If you are teaching for many years, i would assume that you are not a NYC DOE teacher. A teacher with "many" years of experience should be making close to 100K/year. You may want to look into teaching for the City.

Poster 11--You are scum. The next time youre counting cash, remember who taught you how to count. I seriously doubt it was your mother.

thank you,for all your input. It helps to see so much humanity in NYC. #30, you are very nice, I have a question, though, the ratio salary/house-you-can-afford is: you can afford a home three times your salary. That will put it at aprox. 180K. Am I right? Let us wait for the buble to unravel.

Teaching is so an easy gig.
Once you've got tenure it is almost impossible to get fired and you can sit around on your lazy ass for the rest of your career.
Try doing that on a trading floor where every year your P&L gets set back to zero and if you don't produce you are out!

#34, darling, who is preventing you from being a teacher? It is soo easy, you shoul switch careers

Plenty of people on wall street who gave up tenured university faculty jobs in Physics, Mathematics, Engineering, Economics etc.

#34--not true and if you were a teacher, be happy I am not your principal

To #36: should these scientist have remained in academia, perhaps we would not have to deal now and in the future with a supprime and Alt-A mortgages meltdown rippling through the global economy

#11 is a troll. Just seeing if you will all react and you did. I'd like to get back to the discussion re 'teacher in (real estate) distress'. The profession is really not the issue, it's the affordability of neighborhoods.

#38-scientists helped repack those mortgages, they did not decide to make the loans to people with bad credit.

#40 Scientists as repackers of the American dream? I love Lucy at the assembly line, she only damaged herself by eating too much chocolate

#39 The issue is affordability of housing.
Universal Declaration of Human Rights
Article 25.

(1) Everyone has the right to a standard of living adequate for the health and well-being of himself and of his family, including food, clothing, housing and medical care and necessary social services, and the right to security in the event of unemployment, sickness, disability, widowhood, old age or other lack of livelihood in circumstances beyond his control.

The issue is we have lost standards

Now, where can this lovely teacher afford to live?

Not in NYC

I'm sick of whining teachers claiming that they dont get paid enough and cant afford to buy.

They choose the easy path: a safe rewarding job that few will disapprove of.

Hence they don't deserve to live in the multimillion dollar places, that the lucky ones on Wall Street who had the balls to take a chance in their lives get.

#46 The grass is always greener. I don't know what you do, don't care, but inner city teaching is hardly safe, certainly not easy, poorly paid, & only occasionally rewarding. One's income isn't a measure of one's worth. Sorry to disapoint you. NOW any other ideas to help out our teacher friend?

#46 Thus, the Lone Ranger, Superman, and Capitan America also "deserve to live in the multimillion dollar places, that the lucky ones on Wall Street who had the balls to take a chance in their lives get." Sure balls pay

i work on wall st and not to sound too much of a prick, i made over 32M including my bonus last year, i'm 36 years old.
that said you are a prick #46,

#30 here. The formula they use is monthly debt to monthly income ratio. With the UFT programs, you can do a max of 38% debt to income ratio. So debt includes any regular credit payments (car/student loan, credit cards) + mortgage payment. Might not be a bad idea to wait it out like you said though. I'm thinking about waiting until the end of summer to get a clearer picture of where the market is. But since I want to move now, it might be worth it to buy now if I can get something for a decent price and save the hassle of moving twice.

#49 I did made over 46M including my bonus, I'm 32 years old ;) Need some advice or spare M?

to imaginary
Appreciate your comment. I have no debt, zero, nada. I am still priced out. I am still concern for many working people with lower incomes, not to mention 9,190 homeless families in NYC, and 13,783 children, some of which cannot attend school. Any spare M for them, #49? Rockefeller used to give to the poor.

#50 It boils down to how much are your willing to pay for the hassle of moving twice, $50,000? $100,000? Add percentages of commissions, mortgage interests and clossing costs. Calculate percentage on your TEACHER SALARY. $1,000 It may be better to move twice, even if you pay 5,000 per move, better than $50,000 or $100,000. -Yes, for #49 and #51 this sum is just crumbles from the new lobster and caviar $1,000 Pizza Amore-

MORTGAGE DISASTER IN THE CLASSROOM

http://www.nypost.com/seven/03152007/business/mortgage_disaster_in_the_classroom_business_roddy_boyd.htm

No, the "disaster in the classroom" is the reporter and anyone else who doesn't realize that a $65 million loss on $91 billion in assets equals 0.07%, or about a 1 second move in markets.

Teaching is so an easy gig compared to the real world.
My friends who were bright, worked hard in college and got high GPA's (>3.9), went to work on wall street.
Those who became teachers were generally the mediocre ones with middle to lowish GPAs (<3.4), who were not able to even get a single interview with a wall street firm. They couldn't face getting a lesser job in the real world, so they started saying that they "wanted" to become a teacher.

(but we all know its because they couldn't find anything else!)

True

the ones with the 3.9 GPA that followed Greenspan over dot.com bubble, real estate bubble and subprime Alt A no doc liar loans. Let the ones with the lower GPA pay for their mistakes. Brilliant.

Nietzsche and the super race

Übermensch
http://en.wikipedia.org/wiki/Übermensch

Once Wall Street entered the marketplace of housing ... the typical mainstream lending community was not prepared for those types of loans, the volume and the greed it would create,
From today's NYT, Mortgage Meltdown Pulls in More Than Those on Edge

#56, I cannot remain a gentleman & tell you what I think of you. If you have no ideas to help our teacher friend, please just take a looong walk into the Hudson.

Our teacher should definitely check with the city to find out the rules requiring rent laws. She might be able to stay in her apartment.

Start distance learning over the internet, live in N or S Dakota, or in China

If Manhattan is not affordable on a teacher's salary, what would you recommend better, N Jersey or Queens? What are the advantages and disadvantages of both? Thanks.

edgewater is very nice, as is fort lee

Look, can you at least stop the teacher bashing? Sheesh. If nothing else, can we stop judging people based on what they do for a living and how much money they earn? If nothing else, society needs all of us--stock brokers, teachers, bus drivers, steamfitters, whatever. Has New York become this pompous, this condescending?

Forest Hills is a fantastic area. Solidly middle class, great public schools. You can live like a queen (1 BR, luxury building) for 250K; non-luxury rentals start at $1,300. The trip to Midtown is around 20 minutes. Riverdale is similarly priced, but the commute isn't as easy. In Kew Gardens, you can find a really nice prewar 1 BR for 200K; rents are about $1,200. The LIRR commute is 15 minutes to Penn Station (only select parts of the neighborhood are walkable to the subway; that trip is 30 minutes, tops). Sad day when not only can't a teacher afford to live where she works, but they're considered inferior citizens because of it. Shame on you.

Thanks, #68; great, useful advice.

to post 68: any suggestions as per specific buildings in Forest Hills/Kew Gardens for a 1 BR, luxury building for 250K?

Kennedy House Condominiums, on Queens Blvd. but for the price, you get something good, albeit rather smaller closer to Manhattan

its called supply and demand, simple economics.
manhattan is a very small island and as such it costs a premium to reside there.
having to commute to the boroughs is not a ghastly misfortune, its a fact of life.
I know doctors that prefer the boroughs, teacher should be fine in Queens, Jackson Heights, Forest Hills, or Riverdale or even look into Westchester, like New Rochelle, its only 40min to GC.

Trust me this teacher gets more satisfaction from her job than most, but unfortunately there is no guarantee that there is something for you on millionaires island.

Manhattan has always been a very small island!!!! Prices are definitely coming down.

Hopefully this teacher does not teach "geography"(doesn't know areas surrounding Manhattan?).... oh right they dropped that from schools many years ago.
Perhaps this is a good time to plug the book "Why Geography Matters".

To live in Manhattan is a privilege and not a right.
So off to Queens, Brooklyn or the Bronx for you teacher.

(I'm saving Staten Island for the janitors and garbage collectors)

Garbage collectors make as much money, if not more, than teachers.

that's because they know their geography

very true they know the streets, neighborhoods and can go back and find their
dumpsters every week.

Teachers are generally too stuckup and self important to live on Staten Island.

Again the poster should have bought in NYC years ago instead of settling for a rent
controlled apt. I hear the same sad story over and over......

Lots of teachers I known are cheapskates. It would be hard for them to pay
market prices for real estate if they could find a deal on a rental.

lol, how could any of you rich and mighty "masters of the universe" get to where you are without teachers?
lol, after you have kids you will be begging those very same teachers to help your kid get into p.s. whatever or begging for that reference so they can get into whatever program or whatnot.

god help us if you ever decide to multiply

Teacher in the process of being outsorced to Germany, where quality people are truly appreciated and where they care for their country and their children's future. BTW, rents in Berlin are to the tune of 345-400 euro a month. To the well-meaning, thanks. Good luck to all!

#85, your talk is an example of how high and mighty obnoxious teachers can get.

#85 is not a teacher, is a lawyer

#85 here, i manage a hedge fund:P pwn3d

Hedge funds are out ;(
Three New Hedge Funds Banking On Housing Bubble Burst
http://www.finalternatives.com/node/1143

I'm sick and tired of paying for crappy public education and their unions.
If the majority of teachers were good, then maybe taxpayers would want to spend more on them.

Last time I talked to a German teacher (2005), she was in Maui looking for work
and trying to get papers to live in the US.
She disliked living and working in Germany. She was tired of buying wood
in the street, then packing it upstairs to feed her wood stove for apt heat.

Is that so, let us close all schools and let freedom reign

#92 Did you buy that, and are you a REAL cosmopolitan New Yorker then? I think she was talking about Moscow, where overcrowding reigns.
Germans get most paid vacation, over one month and a half a year, have best public shools, housing for all, not taking about family oriented policies, with paid leave per child, solvent social security system, etc.

And they get to read Nietzschde in the original German

Why are not all teachers leaving on the next plane?

good timing
Dollar Falls to Three-Month Low on Concern Over Slowing Economy
http://www.bloomberg.com/apps/news?pid=20601087&sid=aMNYdPjdF1Sw&refer=home

"In all of the German-speaking countries, educational reform has been a hot topic of discussion in recent years. At all levels, from kindergarten to university, critics have been calling for changes in the traditional way of running schools. At the same time, some educational experiments—notably the comprehensive high school (Gesamtschule) and the entire overburdened German university system—have come under fire. School discipline has increasingly become a problem in urban areas. Although everyone agrees that there are problems in education, not everyone agrees on just what changes are needed." hill books.

Only country that teachers are disparaged is here. Rest of the globe, they are respected and admired. We are right, they are wrong.

Everyone I know from university that couldn't get a job in the real world, ended up becoming a teacher, what does this say about these rejects?

teechers suk!
who needz dem anywayz? i make all my monie on da innernets!!

Even if this teacher had a trust fund like all you downtown elitists, I would advise her to leave your precious, gilded palace. If I lived in Manhattan (that is to say, if my parents were rich enough to bankroll it), I'd feel like a stranger in my own neighborhood. Who wants to live like that? FYI, it's not that we can't afford it for lack of working hard enough. On slow days, teachers put in 12 hours.

Regarding the question about specific Forest Hills buildings, just look around. The 250K figure will get you into almost any building within a 5- to 10-minute walk to the Continental Avenue station. Some are prewar. I wouldn't bother with Kennedy House (which is more like 350K); its 40-percent-down board is akin to Manhattan pomposity. For those same luxuries (pool, doorman, concierge, health club), you can live in Birchwood Towers (less than 5 minutes to local train) for less than 250K.

I don't know if the Original Poster has been back here, but depending on the location of his/her job and favorite activities, I think Forest Hills is a good suggestion. Closer into Manhattan in Queens are a few neighborhoods that are a bit less cosmopolitan than Forest Hills, but also cheaper, and have a great range of inexpensive restaurants featuring much better food than the suburban "fine dining" Manhattan restaurants that are all image. Try Astoria, Jackson Heights, Sunnyside/Woodside.

haha I am the teacher posting troll!
now that I've reached my goal of 100 comments, I will now leave you folk alone.

Any specific buildings in Astoria? thanks

Here is Birchwood Towers, for $478,000
http://newyork.craigslist.org/que/rfs/297427358.html

thats Forest Hills my hasty friend