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February 06, 2005

Make it here, make it anywhere: Long Island Index

Diana Weir, the vice president of the Long Island Housing Partnership,
said: "People tend to stay in these homes. Most of them are thrilled
to own their own home."

Though developments like those created by the Long Island Housing
Partnership with the cooperation of towns, banks and county, state and
federal agencies have given more than 3,000 families the chance to own
homes, there are still many more people who will leave Long Island for
that chance.

With the median price of a house reported in July by the Long Island
Regional Planning Board to be $394,900, twice the national average,
"people making 120 percent of the median income can't come close to
buying a home on Long Island," said Jim Morgo, Suffolk County's
commissioner of economic development.

As a result, according to the 2005 Long Island Index, a report
on Long Island sponsored by the Rauch Foundation, 20 percent of Long
Islanders aged 18 to 34 left the Island from 1990 to 2000, five times
the national average.

Posted by omor at February 6, 2005 04:45 PM

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