Comments on: “It’s not going to be a rapid recovery.” http://njrereport.com/index.php/2009/06/27/its-not-going-to-be-a-rapid-recovery/ Real Estate, Economics, and Politics Thu, 24 May 2012 15:22:53 +0000 hourly 1 http://wordpress.org/?v=3.0 By: OahnMacleod http://njrereport.com/index.php/2009/06/27/its-not-going-to-be-a-rapid-recovery/#comment-309564 OahnMacleod Thu, 02 Jul 2009 12:03:04 +0000 http://njrereport.com/?p=4325#comment-309564 I've tried telling people for the past 5 years to get out of real estate. I sold my home at the peak of the market back in September 2005, a condo my ex-wife and I had bought for $134,500 in April 1999 only to turn around and sell for $299,000. It wound up being the highest priced condo to sell in that complex. That said, I backed out of a deal in a home that she wanted to buy that same year... a 13 room home for $420,000 which I backed out of a day before closing. The realtor and seller both mocked me, saying I'd be sorry and I laughed at them both and said, "I'll be sure to look you both up in the next few years and see who's laughing then?" I don't have to tell you the rest... As for renting? Well, good reason I am divorced as my ex didn't agree with me on anything. Having a son, I wanted to ensure his future through wise investments (bought silver bullion at $8/oz., unloaded 1/2 at $21 like Buffet did) and now, ready for this? I found a 5 bedroom, 3 bath, 2 car garage, furnished home (with a Steinway and more) on an acre in the Oak Hill section of Middletown for... (drum roll please) $1,200/month, after I spoke to the landlord and told him of my current situation. Funny thing is, he came down from $1,800/mo.. Oh, and he pays for security, landscaping, water and sewer, LOL!!! And I've made changes to the place (new carpet, paint, etc.) and he deducts it from the rent... AWESOME! Add to that it I was lucky enough to find a six figure job with IBM of all things after being out of the industry for 5 years or more... Why am I bragging? Point is... DON'T LISTEN TO THE MEDIA AND FOLLOW OTHER SHEEPLE OFF A CLIFF! I simply prayed, believed God would meet my needs and all of the years that I payed it forward, helped others, donated money, went out of my way and more has come around full circle. DON'T WORSHIP MAMMON... Make sure you have spiritual stock and make it through what's coming after this October. OOFFAA. You haven't seen ugly yet! I’ve tried telling people for the past 5 years to get out of real estate.

I sold my home at the peak of the market back in September 2005, a condo my ex-wife and I had bought for $134,500 in April 1999 only to turn around and sell for $299,000. It wound up being the highest priced condo to sell in that complex. That said, I backed out of a deal in a home that she wanted to buy that same year… a 13 room home for $420,000 which I backed out of a day before closing. The realtor and seller both mocked me, saying I’d be sorry and I laughed at them both and said, “I’ll be sure to look you both up in the next few years and see who’s laughing then?” I don’t have to tell you the rest…

As for renting? Well, good reason I am divorced as my ex didn’t agree with me on anything. Having a son, I wanted to ensure his future through wise investments (bought silver bullion at $8/oz., unloaded 1/2 at $21 like Buffet did) and now, ready for this? I found a 5 bedroom, 3 bath, 2 car garage, furnished home (with a Steinway and more) on an acre in the Oak Hill section of Middletown for… (drum roll please) $1,200/month, after I spoke to the landlord and told him of my current situation. Funny thing is, he came down from $1,800/mo.. Oh, and he pays for security, landscaping, water and sewer, LOL!!! And I’ve made changes to the place (new carpet, paint, etc.) and he deducts it from the rent… AWESOME!

Add to that it I was lucky enough to find a six figure job with IBM of all things after being out of the industry for 5 years or more…

Why am I bragging? Point is… DON’T LISTEN TO THE MEDIA AND FOLLOW OTHER SHEEPLE OFF A CLIFF! I simply prayed, believed God would meet my needs and all of the years that I payed it forward, helped others, donated money, went out of my way and more has come around full circle.

DON’T WORSHIP MAMMON… Make sure you have spiritual stock and make it through what’s coming after this October. OOFFAA. You haven’t seen ugly yet!

]]> By: jc http://njrereport.com/index.php/2009/06/27/its-not-going-to-be-a-rapid-recovery/#comment-309531 jc Thu, 02 Jul 2009 04:18:00 +0000 http://njrereport.com/?p=4325#comment-309531 good news everyone ! jim cramer says recession is over and housing has reached the bottom ! time to buy ! don't wait or you will be priced out again ! UNBELIEVABLE !!!!!! DO PEOPLE REALLY BELIEVE THIS SH.. ? CRAMER , NAR , CNBC , REAL ESTATE AGENTS ? NOTHING BUT SPINNING LIARS ! good news everyone ! jim cramer says recession is over and housing has reached the bottom ! time to buy ! don’t wait or you will be priced out again ! UNBELIEVABLE !!!!!! DO PEOPLE REALLY BELIEVE THIS SH.. ? CRAMER , NAR , CNBC , REAL ESTATE AGENTS ? NOTHING BUT SPINNING LIARS !

]]> By: Sir Rentsalot http://njrereport.com/index.php/2009/06/27/its-not-going-to-be-a-rapid-recovery/#comment-308748 Sir Rentsalot Mon, 29 Jun 2009 04:37:14 +0000 http://njrereport.com/?p=4325#comment-308748 190 - Shelley: Yes. This has been another edition of Simple Answers To Simple Questions. 190 – Shelley: Yes. This has been another edition of Simple Answers To Simple Questions.

]]> By: Sir Rentsalot http://njrereport.com/index.php/2009/06/27/its-not-going-to-be-a-rapid-recovery/#comment-308747 Sir Rentsalot Mon, 29 Jun 2009 04:34:40 +0000 http://njrereport.com/?p=4325#comment-308747 And, of course, our current system sucks b@lls in terms of health outcomes as well. And, of course, our current system sucks b@lls in terms of health outcomes as well.

]]> By: Sir Rentsalot http://njrereport.com/index.php/2009/06/27/its-not-going-to-be-a-rapid-recovery/#comment-308746 Sir Rentsalot Mon, 29 Jun 2009 04:32:34 +0000 http://njrereport.com/?p=4325#comment-308746 Cobbler - another major factor is what level of cost is deemed "usual and necessary", particularly for out-of-network costs. Likewise wrt maximums. Employer-provided healthcare is income (as the wsj posits every time they calculate union pay) and has always enjoyed special tax status. The fact is that employer-provided health is a monumentally stupid means of delivering healthcare, and renders USA industries thoroughly non-competitive with foreign producers who do not have to shoulder such an idiotic cost. Cobbler – another major factor is what level of cost is deemed “usual and necessary”, particularly for out-of-network costs. Likewise wrt maximums. Employer-provided healthcare is income (as the wsj posits every time they calculate union pay) and has always enjoyed special tax status. The fact is that employer-provided health is a monumentally stupid means of delivering healthcare, and renders USA industries thoroughly non-competitive with foreign producers who do not have to shoulder such an idiotic cost.

]]> By: Shelley http://njrereport.com/index.php/2009/06/27/its-not-going-to-be-a-rapid-recovery/#comment-308745 Shelley Mon, 29 Jun 2009 04:30:07 +0000 http://njrereport.com/?p=4325#comment-308745 Out looking at homes today and a genius from Burgdoff told us how Chatham and Madison are red hot with multiple offers and bidding wars. She claims over 160 properties have sold or gone under contract since April 1. "Chatham will not go down much if at all as the train to midtown will keep it high" I asked her what about the lost jobs and she told me that people in Chatham have not been affected. Dreamer or liar? Out looking at homes today and a genius from Burgdoff told us how Chatham and Madison are red hot with multiple offers and bidding wars. She claims over 160 properties have sold or gone under contract since April 1. “Chatham will not go down much if at all as the train to midtown will keep it high” I asked her what about the lost jobs and she told me that people in Chatham have not been affected.

Dreamer or liar?

]]> By: cobbler http://njrereport.com/index.php/2009/06/27/its-not-going-to-be-a-rapid-recovery/#comment-308744 cobbler Mon, 29 Jun 2009 04:10:50 +0000 http://njrereport.com/?p=4325#comment-308744 shore [187] Talking about medical plans, the most expensive ones are not necessarily ones with most services (v1-agra, homeopathy, acupuncture, you name it) covered - but those with zero copays for anything. I think it is logical to tax the benefit above certain (should be high enough, but not what our "servants" are enjoying)level - not for fiscal reason but because it encourages a shift to the plans where the employee has some "skin in the game". Whether this is what BO administration has in mind, is a different story - but I wouldn't poo-poo the concept just from the reflexive dislike of prez or congress. shore [187]
Talking about medical plans, the most expensive ones are not necessarily ones with most services (v1-agra, homeopathy, acupuncture, you name it) covered – but those with zero copays for anything. I think it is logical to tax the benefit above certain (should be high enough, but not what our “servants” are enjoying)level – not for fiscal reason but because it encourages a shift to the plans where the employee has some “skin in the game”. Whether this is what BO administration has in mind, is a different story – but I wouldn’t poo-poo the concept just from the reflexive dislike of prez or congress.

]]> By: Shore Guy http://njrereport.com/index.php/2009/06/27/its-not-going-to-be-a-rapid-recovery/#comment-308743 Shore Guy Mon, 29 Jun 2009 04:00:12 +0000 http://njrereport.com/?p=4325#comment-308743 Gator/Stu, Enjoy. Gator/Stu,

Enjoy.

]]> By: Shore Guy http://njrereport.com/index.php/2009/06/27/its-not-going-to-be-a-rapid-recovery/#comment-308742 Shore Guy Mon, 29 Jun 2009 03:57:46 +0000 http://njrereport.com/?p=4325#comment-308742 BOHICA, Baby. B.O. has a little something for the middle class, you can see it better if you bend over the couch: http://www.washingtonpost.com/wp-dyn/content/article/2009/06/28/AR2009062802408.html Wear something frilly and it won't seem as bad. BOHICA, Baby. B.O. has a little something for the middle class, you can see it better if you bend over the couch:

http://www.washingtonpost.com/wp-dyn/content/article/2009/06/28/AR2009062802408.html

Wear something frilly and it won’t seem as bad.

]]> By: yikes http://njrereport.com/index.php/2009/06/27/its-not-going-to-be-a-rapid-recovery/#comment-308741 yikes Mon, 29 Jun 2009 03:36:45 +0000 http://njrereport.com/?p=4325#comment-308741 <i> bi says: June 28, 2009 at 9:03 pm #162, yikes, then what? then I conclude that the grade level of your math is no more than the level of my english.</i> as usual, you're missing the larger point. but i have low expectations when it comes to you, so this is no surprise. bi says:
June 28, 2009 at 9:03 pm

#162, yikes,
then what? then I conclude that the grade level of your math is no more than the level of my english.

as usual, you’re missing the larger point. but i have low expectations when it comes to you, so this is no surprise.

]]> By: Sir Rentsalot http://njrereport.com/index.php/2009/06/27/its-not-going-to-be-a-rapid-recovery/#comment-308740 Sir Rentsalot Mon, 29 Jun 2009 03:29:06 +0000 http://njrereport.com/?p=4325#comment-308740 184 - yeah, and I'm sure that mrs. chi is smokin' even before she picks up the cigar didn't hurt. Not that that's an HR-friendly thing to say.... 184 – yeah, and I’m sure that mrs. chi is smokin’ even before she picks up the cigar didn’t hurt. Not that that’s an HR-friendly thing to say….

]]> By: chicagofinance http://njrereport.com/index.php/2009/06/27/its-not-going-to-be-a-rapid-recovery/#comment-308739 chicagofinance Mon, 29 Jun 2009 03:17:46 +0000 http://njrereport.com/?p=4325#comment-308739 One of my wife's career defining moments was on a business trip to San Jose Costa Rica. She was considered the straight laced HR police-person by all of the execs from Canada, Chicago and South America. Anyway, she hangs out with the heavy hitters of the company, and has a cigar and is drinking scotch neat. These old school guys were floored. She walked on water after that one. We saw it in her paychecks for years afterward.....as an aside, she kicks a%%, but you need more than that in NYC. One of my wife’s career defining moments was on a business trip to San Jose Costa Rica. She was considered the straight laced HR police-person by all of the execs from Canada, Chicago and South America. Anyway, she hangs out with the heavy hitters of the company, and has a cigar and is drinking scotch neat. These old school guys were floored. She walked on water after that one. We saw it in her paychecks for years afterward…..as an aside, she kicks a%%, but you need more than that in NYC.

]]> By: chicagofinance http://njrereport.com/index.php/2009/06/27/its-not-going-to-be-a-rapid-recovery/#comment-308738 chicagofinance Mon, 29 Jun 2009 03:09:16 +0000 http://njrereport.com/?p=4325#comment-308738 160.Clotpoll says: June 28, 2009 at 6:23 pm chi (158)- Make mine aged Patron, neat, in a snifter. Can’t tell it from XO-level Cognac…and it’s a helluva lot cheaper. clot: My wife before she retired to mommy duty was a devout Corazon Reposado drinker. That and Tanqueray Up /w 3-4 olives. Story: The only Ritz-Carlton I've ever visited that didn't evoke immediate oral and rectal evacuation was the one in the Zona Hotelera in Cancun. The host was this Swiss guy that was tripping over himself to please my wife. He served us some huge flight of tequilas and tossed us some mini-souffle with a molten chocolate center. I have no recollection of how we returned to our hotel. 160.Clotpoll says:
June 28, 2009 at 6:23 pm
chi (158)- Make mine aged Patron, neat, in a snifter. Can’t tell it from XO-level Cognac…and it’s a helluva lot cheaper.

clot: My wife before she retired to mommy duty was a devout Corazon Reposado drinker. That and Tanqueray Up /w 3-4 olives.

Story: The only Ritz-Carlton I’ve ever visited that didn’t evoke immediate oral and rectal evacuation was the one in the Zona Hotelera in Cancun. The host was this Swiss guy that was tripping over himself to please my wife. He served us some huge flight of tequilas and tossed us some mini-souffle with a molten chocolate center. I have no recollection of how we returned to our hotel.

]]> By: Sir Rentsalot http://njrereport.com/index.php/2009/06/27/its-not-going-to-be-a-rapid-recovery/#comment-308737 Sir Rentsalot Mon, 29 Jun 2009 02:21:07 +0000 http://njrereport.com/?p=4325#comment-308737 And bi, by all means, a strong riposte would be to point out that I've posted to much, so have at it. And bi, by all means, a strong riposte would be to point out that I’ve posted to much, so have at it.

]]> By: d2b http://njrereport.com/index.php/2009/06/27/its-not-going-to-be-a-rapid-recovery/#comment-308736 d2b Mon, 29 Jun 2009 02:17:17 +0000 http://njrereport.com/?p=4325#comment-308736 PGC-We always hit those ale houses in Florida to catch up on hockey. Great places on NFL Sundays. Never been to the ones in PA yet. PGC-We always hit those ale houses in Florida to catch up on hockey. Great places on NFL Sundays. Never been to the ones in PA yet.

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