Comments on: Weekend Comp Killer!

By: Jason

Jason — Tue, 08 Jul 2008 22:44:28 +0000

This is very disturbing and I believe we have not even seen the bottom of this mess yet.

By: monique

monique — Tue, 08 Jul 2008 14:56:46 +0000

You take Sayreville and old bridge which used to be a lot of farm, developers like khovanian and private developers came there bought up 1000′s of acres and built overpriced homes. Before the developing some of the homes in these area’s were no more than $150,000 to $330,000 now they are in $400,000 to $700,000.
We won’t even get into the taxes people are paying for some of these homes.

By: monique

monique — Tue, 08 Jul 2008 14:47:08 +0000

Take a look at the mult-dwellings in most northern part of nj mainly essex,union counties, they built new construction multi families and sold a lot of them for $400,000 to $600,000 in crime areas then set the rentals at a rate of $1800 to about $2400 a month. Who in there right mind would pay that much rent to have to look over your back all the time. Tenants can’t afford the rent now the investor goes into foreclosure because they can’t find anyone to pay that kind of rent in Newark,East Orange,Irvington,Union, or Elizabeth.

By: monique

monique — Tue, 08 Jul 2008 14:35:03 +0000

I blame some realtors as well as the mortgage lenders. I live in middlesex county and here the community was built by KHOVan people bought some of these homes in 2004 at $440,000 and know the realtors are trying to sell them or $579,000. These houses did not appreciate over $100,000 in value over 4 years. How did they even come up with those numbers. A lot of these homes have been on the market for almost a year. Why because these homes in NJ are very overpriced.

By: jim

jim — Fri, 04 Jul 2008 23:45:43 +0000

Jamil, look what repubs have done in 7 years – they’ve spent a multi trillion dollar surplus, destroyed the entire economy, made usa the most hated, disrespected country ever, ran the debt to the moon, broken numerous laws, ignored the constitution. destabilized the mideast, etc etc – I don’t have a year to recite the list of what the obscene crooked party has done.

yet you focus on some bs about a senator’s mortgage?

what happened to “Murica”?

By: NJ Buyer

NJ Buyer — Thu, 03 Jul 2008 17:20:16 +0000

We just bought a 13 year old 4 bedroom colonial in Lafayette NJ on 4 acres, with views and a 18×36 inground pool for $415,000. It sold for $610,000 in December 2006.

By: chicagofinance

chicagofinance — Mon, 30 Jun 2008 13:17:43 +0000

Pat: booya as it were ;-)

By: Pat

Pat — Mon, 30 Jun 2008 11:13:10 +0000

njp, cf, 401(k) fees and transparency have nothing to do with disclosing fees directly to the participant.

So what? So what that Walmart makes a buck on the plan? So what if Walmart gets a huge break on other fees as long as ML holds the 401(k)?

What if the PT’s make more in that plan than any other “like” plan. [Knowing ML, that's not likely, but let's give it the benefit of the doubt.] You don’t want to cut off your nose to spite your face.

You can show me five hundred permutations of beige and I still can’t decide what color to paint the kitchen. Show me what the kitchen would like like with different colors.

Disclosure has everything to do with providing a framework for understanding the risks of choosing (or being defaulted into) participation in a plan, versus investing privately.

Like the decision to buy a home versus renting, 401(k) election risk can’t be mitigated unless participants are shown “comps” and “rent vs. own” ratios.

By this, I mean that each plan must be forced to provide participants with the ability to compare plan results [renting] for any cycle or period to results obtained buy investing individually [owning] in an IRA with either the exact retail option or the closest fascimile [SEC-defined and regulated].

/rant.

By: SG

SG — Mon, 30 Jun 2008 02:55:42 +0000

I feel Bernanke is doing all of us a favor by taking Interest rates low, and in turn falling dollar and rising gas prices. He has put himself in situation where he can increase rates without getting backlash from Real Estate lobby. Now whenever he increases rates, he will not be pushed to reduce it again to save RE. He has proved that lower rates have significant downside in current environment. I feel things don’t change until system break down, and I think Bernanke is getting us there faster.

By: njpatient

njpatient — Mon, 30 Jun 2008 02:43:30 +0000

139 syb
hee!

By: njpatient

njpatient — Mon, 30 Jun 2008 02:38:45 +0000

133 commander

“People have to get to work NOW and stay warm in the winter…$ 5.00 plus/gasoline/home heating oil is going to break the backs of ALL OF US”

…

“a)-For NJ and other states: Open off-shore oil drilling along the Atlantic Coast”

I don’t mind a little offshore drilling if it delays peak oil by a few days, but leaving aside the question of whether there is much oil to drill off the coast of Cape May, let alone enough to have an appreciable effect on world oil prices, the idea that we could start drilling today in order to stave off shortages this winter is truly precious.

By: njpatient

njpatient — Mon, 30 Jun 2008 02:34:59 +0000

“Thankfully, I did. I started at #125″

God bless, BC.

I aspire to your zen-like peace, but I can’t quite manage.

By: chicagofinance

chicagofinance — Mon, 30 Jun 2008 02:18:21 +0000

jamil Says:
June 29th, 2008 at 3:47 pm
Anyway, transferring 401k to IRA is always a good thing (more options available and you can control the fees).

j-man: you can never say “always”….if you are intending to convert certain accounts into Roth IRAs, you may actually perfer to keep certain OTHER money in the 401(k) arrangement.

By: Sybarite

Sybarite — Mon, 30 Jun 2008 02:17:27 +0000

Para arriba, para abajo, alemana pal carajo!

By: Sybarite

Sybarite — Mon, 30 Jun 2008 02:16:41 +0000

Campeones, campeones, ole ole ole!