Wed 7 Oct 2009
NJ Rep. Scott Garrett Pushes for FHA Risk Reduction
Categories: Economics , National Real Estate , Risky LendingFrom HousingWire:
Bill Raises Required Down Payment to 5% for FHA Loans
A bill introduced in Congress Monday would increase the minimum down payment for Federal Housing Administration (FHA)-insured mortgages from 3.5% to 5%.
The FHA Taxpayer Protection Act of 2009 — HR 3706 — would also prohibit financing initial service charges, appraisals, inspections, or other fees or closing costs with any part of an FHA mortgage.
The bill’s author, Rep. Scott Garrett (R-NJ), said the current policy of allowing closing costs to be rolled into the mortgage effectively reduces FHA down payments to as low as 2.5% because borrowers don’t have to have as much cash on hand at closing.
“[T]he benefits of promoting homeownership using government subsidies must be balanced against the potential risk of insuring less creditworthy borrowers and exposing the American taxpayer to that risk,” Garrett said in a statement on his Web site. “As we have learned repeatedly throughout the mortgage crisis, the amount of equity a homeowner has in their home directly correlates to the credit risk associated to their mortgage.”
…
The bill also calls for the Government Accountability Office (GAO) to conduct a review of the FHA’s fiscal stability and the state of the Mutual Mortgage Insurance Fund, including the appropriate capital ratio of the fund, and how that ratio affects broader housing market. The bill also calls for an examination of the housing market’s dependence on the fund since the mortgage crisis began.
…
The market share of FHA mortgages has increased from 3% in 2006 to more than 20% in 2009, and the rate of delinquency for FHA loans is also on the rise, currently more than 14%, according to testimony Department of Housing and Urban Development (HUD) inspector general Kenneth Donohue gave to Congress in April.
Frist! With some Mish:
“The reason for the strength in gold is not US inflation. As I have pointed out many times, gold fell from 850 to 250 over the course of 20 years, with inflation every step of the way. Thus, the inflation story just does not fit.
However, it should be clear that a major financial crisis is in store following a long period of competitive currency devaluation and massive debt and derivatives expansion by nearly every major country on the planet.
The G-7 agreed to do nothing to fix this mess, nor did the previous G-20 meeting. Countries are going to do what they are going to do: follow misguided Keynesian logic that suggests one can spend one’s way to prosperity even though the problem is excessive spending across the board.”
From the Philly Inquirer:
Editorial: Mortgage predators
Many of the same sleazy operators who helped fuel the real estate bubble through dubious subprime lending practices are now taking advantage of homeowners through “foreclosure-rescue” scams.
In the wake of the housing collapse, an estimated eight million homes face foreclosure over the next few years. That provides a ready market for such loan-modification scams.
Under the scheme, unscrupulous brokers offer to negotiate a loan modification for homeowners having trouble paying their mortgage.
The brokers charge an up-front fee of several thousand dollars. But they fail to ever reduce the loan; or worse, they stick the borrower with a more costly loan or trick him or her into a sale/leaseback of the house.
Brokers target homeowners through direct mail, e-mail, and boiler-room-style telemarketing.
Hey, Scott…sit back and have a fruity drink. Your pals over at Ginnie Mae have already built a 10-megaton financial bomb of doom, wrapped it in spent uranium rods, broken glass and nails…and set a hair-trigger, trip-wire detonator on the whole thing.
If FHA stopped today, the garbage already in the system is enough to cause a massive fail five times over.
From the Gloucester County Times:
Sunoco shutting down Eagle Point Refinery in West Deptford Township, Westville, leaving 400 jobs up in the air
Petroleum giant Sunoco, owner of Eagle Point Refinery and one of Gloucester County’s largest employers, announced late Tuesday that nearly 90 percent of its workforce will be placed on furlough at its local facility in the coming weeks.
Officials cited weak demand for refined products, the recession and increased ability by other firms to refine petroleum as the reason why the site’s refining operation will be discontinued indefinitely, leaving approximately 400 workers searching for new employment.
From the NY Times:
Paralysis in the Debt Markets Is Deepening the Credit Drought
A year after Washington rescued the big names of American finance, it’s still hard to get a loan. But the problem isn’t just tight-fisted banks.
The continued disarray in debt-securitization markets, which in recent years were the source of roughly 60 percent of all credit in the United States, is making loans scarce and threatening to slow the economic recovery. Many of these markets are operating only because the government is propping them up.
But now the Federal Reserve has put these markets on notice that it plans to withdraw its support for them. Policy makers hope private investors will return to the markets, which imploded during the financial crisis.
The exit will require a delicate balancing act, government officials said.
Good morning - I’m looking for an update if anyone has one on the following listing in Avon:
4 Bedrooms
2 Full | 1 Partial Bathrooms
1,827 Est. Sq. Ft.
Listing # 20917541
Wondering if it is under contract since it doesn’t seem to be listed any more.
I’m also debating the relative merits of being on the 500 block as opposed to the 200 block. For several summers I rented on the 200 block and loved being that close to the beach to trot back and forth. On the 500 block, in both Bradley and Belmar, you’re a half a mile away. I would think that impacts enjoyment and summer rentals.
Thoughts?
Check this one out -
http://www.idxre.com/idx/detail.cfm?cid=39134&bid=59&pid=20938108&sid=1508944&fe=104&CFID=7112705&CFTOKEN=32488979
Just when I think sellers have started to get realistic… MLS 20938108. A ranch more than half a mile from the beach at $538,900. Please. Although you gotta hand it to them, they’ve purtied ‘er up!
From the WSJ:
Families Cut Spending During ‘08
amilies cut back sharply on transportation and apparel spending last year, as wages failed to keep up with rising prices during the worst recession in decades.
Consumer prices rose 3.8% last year from 2007, but pretax income climbed just 0.7%, or $472 an average family. To compensate, Americans made their priorities clear by slashing spending in less essential categories, and favoring such thriftier options as eating at home.
Overall spending per consumer unit — which includes families, single people or people living together who share expenses — rose just 1.7%, or $848, in 2008 to $50,486, not adjusted for inflation, the Labor Department said Tuesday. It was the smallest spending increase since 2003.
Transportation spending, ranging from car purchases to plane tickets, fell 1.8%, and apparel outlays slid 4.3% — about a $9.7 billion hit to the apparel industry. Meanwhile, families spent 8.1% more on dining at home, or $279 a family. Going out to eat suffered: Spending increased just $30 a family.
…
One mystery in the data was the 5.1% increase in entertainment spending, a category that seemed like it would have drawn fewer dollars as consumers tightened their budgets to compensate for stagnant wages and the threat of job losses. It equates to about $16.5 billion more spent on entertainment in 2008 than in 2007.
Anyone have some thoughts on the third guy running for governor? Or are we just doomed anyhow?
corzine,, he’s got it. unions,, and thats that. nothing can stop corzine.
teachers, state,fire,muni;s,cops
even Karla
“The continued disarray in debt-securitization markets, which in recent years were the source of roughly 60 percent of all credit in the United States, is making loans scarce and threatening to slow the economic recovery.”
I don’t get it. Hank pleaded, on his knees, to the skank; without tarp bank lending would be curtailed. Where is Hank?
“On the 500 block, in both Bradley and Belmar, you’re a half a mile away. I would think that impacts enjoyment and summer rentals.”
Beach,
Summer rentals? Get closer to Kelly’s.
Beach Bum,
I lived in Belmar for years (not in the first two beach blocks) and would be happy to share detailed thoughts with you. Feel free to get my e-mail from Grim.
In short, though, as long as one is east of Main Street, life is pretty good. Also, being a little closer to main Street makes it an easier walk to the shops and to the train and helps reduce the encounters with drunken bennies.
I once walked out of the house to find a couple copulating on the hood/windshield of my car. As I had something I had to do, I coughed loudly as I approached the car hoping to prompt them to scurry off into the bushes. Nope. So I said, “Good evening!” Nothing. So I opened my car door. A glance from him. So I start the car. Now they start bitching for me to go away and leave them “alone.” Bear in mind the car was parked in the street — a residential street — and this was not the middle of the night. The thing that finally got them to remove themselves was the windshield washer fluid spirting over them.
BC - My home base is D’Jais!
BeachBum …there’s nothing like being 2 blocks from the ocean ..at night you can hear the surf on the shore …and the music from the Columns ,or Norwood Inn
Used to go to Mary Husband’s Pub for the turtle racing, but now I’m showing my age (not yet cougar - no longer cub)…
“My home base is D’Jais!”
Beach,
Bring back 5 for $1.
Shore,
Now that’s a “set”-list.
Shore [13],
Classic.
13 Shore
What no hose to spray them down with?
Beach Bum …did you know the bartender @ Mary Husband’s Pub ? Tom Hopkins ?
BC,
A tight set for sure.
Shore - Classic story - I knew Belmar was jazzier than Bradley Beach!
I’ll pester Grim to send me your email. He has mine - feel free to get it from him. Would love to hear your thoughts.
http://www.marketwatch.com/story/housing-recovery-hinges-on-these-five-variables-2009-10-07?pagenumber=1
A view of what is needed for recovery of housing from MarketWatch - but no mention of jobs so who cares….
Beach,
For what it is worth, I know lots of people look down on Bradley, but I like the beach there (much quieter than Belmar), and an easy walk to Asbury for dining and entertainment, without the oppressiveness of the CMA of OG. Avon is also lovely, but with little “downtown” to speak of one must drive more.
Oh, dating myself as well, I rememberMary’s well, and, BC this is for you, it is the first thing I think of when Bruce sings Mary’s place.
http://www.telegraph.co.uk/culture/culturepicturegalleries/6255182/Selfish-Pigs-by-Andy-Riley-creator-of-The-Bunny-Suicides.html?image=4
Selfish Pigs - at the beach-Telegraph Andy Riley
5% down payment? You call that skin in the game, Garrett? How about 10% - 20%? You are using the taxes of future years to subsidize over-priced capes and condos. Please do not tell me, Jamil, that republicans would do it differently.
US National Debt, corrected for inflation, was steady prior to 1980. Under Reagan, Bush I, and Bush II it sky rocketed. Under Clinton it fell.
http://www.brillig.com/debt_clock/inflation.gif
That is funny, years ago I had the pleasure of dating a girl barely related to John Gotti. But close enough they were on Juniors Guest list for his wedding at the Garden CIty Hotel. Anyhow, btw not wise to have a bad break up with an Italian girl related to John Gotti. So anyhow her cousin ends up from a friend of a friend at my Hamptons house party. Tells her guido bf she wants to make love on hood of a mercedes convt, my convt!! Car was parked beside house and it is dark out there, the damm girl put a nice butt implant right in middle of hood that I never quite popped out When I sell that car on ebay I am going to advertise collector car with certfied John Gotti Neice butt mark on hood. Even weirder another Italian girl I briefly dated loosely related to Big Paul got me a deal on that paint job from her uncles chop shop in Brooklyn. That was the last Italian girl I dated as usually the break up involved my car getting damaged, and the police and lower level mafia soldiers making threatening remarks. I found out LI Italian Girls at best scratch your car during the break up the Brooklyn Italian girls want you in the trunk of the car as their Dad throws the car in the crushing machine in the wrecking yard.
Shore you bring back fond memories.
Shore Guy says:
October 7, 2009 at 8:05 am
Beach Bum,
I lived in Belmar for years (not in the first two beach blocks) and would be happy to share detailed thoughts with you. Feel free to get my e-mail from Grim.
In short, though, as long as one is east of Main Street, life is pretty good. Also, being a little closer to main Street makes it an easier walk to the shops and to the train and helps reduce the encounters with drunken bennies.
I once walked out of the house to find a couple copulating on the hood/windshield of my car. As I had something I had to do, I coughed loudly as I approached the car hoping to prompt them to scurry off into the bushes. Nope. So I said, “Good evening!” Nothing. So I opened my car door. A glance from him. So I start the car. Now they start bitching for me to go away and leave them “alone.” Bear in mind the car was parked in the street — a residential street — and this was not the middle of the night. The thing that finally got them to remove themselves was the windshield washer fluid spirting over them.
Hoboken market on fire, just check out these numbers.
Where’s the RE recession??
http://spreadsheets.google.com/pub?key=tAopz1uNPO3C31Ui3dBifHw&single=true&gid=29&range=a1:j13&output=html
Think the same thing on that song - have to say.
Didn’t know any of the bartenders, though, my boyfriend at the time would not have liked that!
As to RE in Belmar, I rented on 4th and loved the beach - close to the end and much less crowded. Not to exaggerate, but felt a little more “natural” than 10th and down. Not sure what I’d think of going to the beach there.
In Bradley I rented on Lareine, liked the beach on that block and Evergreen, that was okay too, but there wasn’t the same “beach” feeling like you get in Belmar. In Belmar, coming home from the beach in our towels, there was a lady sitting on her porch who called out to the kids “How was the water?” and they loved it, filled her in on the day, etc. It was a nice feeling!
er…are you sure that it was windshield washer fluid? Maybe they left because he was done?
13.Shore Guy says:
October 7, 2009 at 8:05 am
Beach Bum,
The thing that finally got them to remove themselves was the windshield washer fluid spirting over them.
Beach Bum
9th Ave is getting pretty close to the summer rental crowd.
I’ll echo Shore Guy’s sentiment. I used to rent year round in a house on 1st and A, nothing like being close enough to hear or see the ocean when you wake up. I think the sweet spot in Belmar is North of about 8th Ave, and east of Main St, the closer to Ocean Ave the better.
Chi, you are gross.
[13] shore
You were much more diplomatic than me.
I would have either gone into my trunk and retrieved a sand wedge for a little bunker practice, or just started up the car and drove off.
Anyone remember Gepp’s on Main St in Belmar?
NJC, sorry - don’t remember that one. I used to like the old Piancone’s in Bradley Beach, but now it is dark, dank and disappointing!
“Oh, dating myself as well, I remember Mary’s well”
Shore,
Turtle races.
“Anyone remember Gepp’s on Main St in Belmar?”
NJC,
Great LI Iced Tea’s in a mug.
OT (sort of) alert:
http://www.cnn.com/2009/SHOWBIZ/TV/10/06/conan.obrien.mayor.feud/index.html
I happened to land on Conan when he fired his latest salvo at Booker and Newark. Since he is a BC grad, I fully expected Conan to be gifted in the art of condescension, and he is, but my reaction to Monday’s comebacker was “wow, I can’t believe he laid the smack down like that.”
At the end of the skit, he really did compare Newark to a toilet, complete with a flush, and away went Newark. And while Conan purportedly talked them up, he pretty much gave a backhand slap to the rest of the communities around Newark too (which formed the toilet seat to Newark’s toilet).
I L’dMAO and then wondered just how Booker was gonna take that? And how big a rube was the Mayor of Elizabeth for pandering to Conan? This is taking on epic proportions, and the loser is, as always, New Jersey.
NJC,
Not by name, but there were lots of places I knew that I did not actually know the name of.
BC,
Did I ever tell you that I once saw The Castiles back when I was a young lad?
NJC,
Remember Porches?
Will California become America’s first failed state?
Los Angeles, 2009: California may be the eighth largest economy in the world, but its state government is issuing IOUs, unemployment is at its highest in 70 years, and teachers are on hunger strike. So what has gone so catastrophically wrong?
http://www.guardian.co.uk/world/2009/oct/04/california-failing-state-debt
“Will California become America’s first failed state?”
NJG [44],
It already has.
Hey John, Big news for you!
The Cleveland Browns have agreed to trade Braylon Edwards to the New York Jets on Wednesday morning, a league source told ESPN NFL Insider Adam Schefter.
danzud (9)-
I’ll take “doomed anyhow” for $500, Alex.
“music from the Columns”
In the 80s, I used to love the Columns. They had this local band, I think the singe was a Neptune detective, that did great covers of the Temptations, Four Tops, etc.
Although we did not yet have the term, the place was also filled with Cougars. Ahhh, memories.
My sister-in-law is a teacher. Got a publication from the union touting Corzine. Then they called her with the question: “Who are you going to vote for?” When she said Christie, the person didn’t have a response.
We will know that things have hit bottom when players are traded for duckets and quantities of flour, sugar, and meat.
I know, I want to order the Jersey this week so I can wear it to the Bills game.
October 7, 2009 at 9:06 am
Hey John, Big news for you!
The Cleveland Browns have agreed to trade Braylon Edwards to the New York Jets on Wednesday morning, a league source told ESPN NFL Insider Adam Schefter.
I’m sorry; I must have the wrong place. I thought this was the NJ Cougar Report.
Is it possible that NJ could fail
Jets got Edwards because he beat up a midget who’s a friend of LeBron.
freedy (53)-
NJ has failed. I’m part of the cleanup crew.
Schump,
It is important to consider the wildlife, and nightlife when purchasing a home.
http://www.nytimes.com/2009/10/07/us/07califwelfare.html
Mr. Schwarzenegger complained that California had 12 percent of the nation’s population but 30 percent of the people on welfare.
Lashe Baldwin, 22, who has a 2-year-old son and a 19-month-old daughter
——————————–
The last statement confused me.
Doom is nigh. Another day closer to oblivion:
Oct. 7 (Bloomberg) — “Japan’s underworld can tell you a lot about what’s happening in the legitimate economy.
Gangsters are on the run as growth wanes and deflation worsens. Yet the oddest development by far involves yakuza members sitting for exams covering key aspects of their work.
If you think this is just a law-enforcement issue, think again. It’s a sign Japan’s funk will be longer than economists predict. That may surprise those betting Japan is recovering. Oddly, though, the plight of gangsters tells the story.
Huddled over legal texts and documents isn’t the popular image of Japan’s storied mobsters. When they aren’t collecting debts, shaking down shop owners, overseeing prostitution rings or rigging stocks, members of Japan’s biggest organized crime group, Yamaguchi-gumi, are studying for 12-page tests.
Surreal? Yes, but also a telltale sign of the seriousness of Japan’s deflationary cycle. The yakuza are having to work harder than ever to get by and are stepping up education efforts. This column isn’t meant to convey sympathy for them. It’s that the advent of a yakuza version of the Series 7 exam that stockbrokers take is a bad omen — very bad.
“The yakuza are a real barometer,” says Jake Adelstein, a blogger and the author of a new book, “Tokyo Vice.” “When the yakuza are doing poorly, the economy is doing poorly.”
All this hints at the harsh environment facing even the most industrious of gangsters, never mind average households. And it says lots about the need for growth opportunities. And Japan has a disturbing paucity of them at the moment.”
http://tinyurl.com/yd4kvqh
For Stu. A place to share your cheapskate tips.
Tip Jar is a collection of money saving tips submitted and ranked by the web community.
http://moderator.appspot.com/#16/e=3cfc
Before long, Yakuza will be pawning parts of their fingers, just to get by.
as long as he does not walk around with loaded guns in his underware and avoids dogfighting I guess his midget wrestling is ok.
Schumpeter says:
October 7, 2009 at 9:17 am
Jets got Edwards because he beat up a midget who’s a friend of LeBron.
John,
Don’t ever move to Saui Arabia:
http://edition.cnn.com/2009/WORLD/meast/10/07/saudi.sex.braggart/
“CNN) — A Saudi court on Wednesday sentenced a man who openly bragged about his sex life to five years in prison and 1,000 lashes, according to Ministry of Information officials.”
snip
Were we not just discussing our favorite tax cheating tax-law writer yesterday? As long as we are represented by people lik this in our towns, at the state level, and in congress, nothing will help reduce the oppressive tax burden that makes living here so expensive.
http://www.washingtonpost.com/wp-dyn/content/article/2009/10/07/AR2009100700738.html
Rangel Evades Taxing Questions Ahead of Calls to Surrender Chairmanship
By Perry Bacon Jr.
Washington Post Staff Writer
Wednesday, October 7, 2009; 8:56 AM
Rep. Charles B. Rangel (D-N.Y.) isn’t interested in talking about his tax troubles and the ethical questions they’ve raised in Congress.
Reporters accosted him Monday as he strolled to the podium for a news conference outside a Manhattan subway station, but Rangel, 79, ducked his head and kept moving.
“Let me thank you all for coming on this beautiful day,” he began when it was his turn at the podium to tout the new subway entrance at 96th and Broadway. “And I would hate to see anyone attempt to mar this with questions that are not related to this exciting event.”
Everyone obliged, except a guy driving by in his car.
“Charlie, pay your taxes! Come on, Charlie, pay your taxes!” the passerby shouted.
snip
9.Danzud says:
October 7, 2009 at 7:13 am
Anyone have some thoughts on the third guy running for governor? Or are we just doomed anyhow?
King John’s salvation - he’ll peel off just enough of the protest vote to assure an incumbent victory - which is why the legacy media is even giving him the time of day. Perot got to be on the debate stage when he was ‘useful’; Nader did not. When the NYTimes spills ink to say “who’s that guy over there”, they are scared.
Schumpeter (55)
I found a video of you cleaning up…
http://www.youtube.com/watch?v=E1XCwN0aBrQ&feature=related
I hope Donte also got thrown into the deal. Just think of Donte, Plaxico and Braylon as the threesome that can bring the Jets the Super Bowl.
Timmay speaks, stocks tank.
(well, not tank, but positive futures went to negative actual when Timmay told everyone to save)
12 month 2.25% 10/7/2009
Yea, ING finally raised CD rates!!!
“Yea, ING finally raised CD rates!!!”
Who cares? Go Down Under.
BC,
Remind me about ticket drops agin. I just found out I need to be in Buffalo for a meeting on the 23rd and I am heading there on the 22nd. Bruce just happens to be playing there tht night (22nd). So, it is like the Gods of Rock and Roll have ordaned tht I go to the show. Also, if you know anyone who has a good seat they can’t use (even a single ticket works as I will be traveling alone, although I will buy a pair just to get the seat) let me know.
I would just assume not pay a broker $500, as they are ruining the concertgoing experience.
So back shore real estate: just found out that a lot at 317 4 avenue in Bradley Beach sold for $465,000 (50 x 150) (I seem to recall that it was listed for 575K). How much would it cost to build a house I wonder - nothing fancy - 200K? So that means that 3 blocks to the beach, you get a brand new house for 665K - then why are there places still asking 900K?
From Timmay’s latest speech:
“boost domestic demand”
“transform the global economy”
I’ve said it before, the only way Obama can get his programs implemented without causing a full blown Depression is through a healthy dose of protectionism. Unless we seal the borders, this administration’s policies, if fully implemented, will cause us to hemorhage jobs and capital.
And to me, it seems like we are seeing the admin. moving pieces on the board toward that goal. Very slowly, to be sure, but moving nonetheless, with bigger moves made when an crisis opportunity presents itself. Timmay’s speech suggests to me that the administration sees very clearly what I also see. And that, given an opportunity, they will try to do something about it.
Forget shiny; stock up on imports.
Beach Bum-
To build at the shore is $150-$200 per square ft. depending on finishes. You can do it for 15% less if you’re the general contractor.
Tax News of the Day:
Ready for a U.N. tax on air travel?
“United Nations Climate Talks Address
New International Tax on Airlines, Carbon
BANGKOK—A pair of regulatory proposals for the transportation sectors at the latest United Nations climate change talks involve new taxes on the sector, one of them a massive levy that could cost international airlines as much as $30 billion per year.
The proposals are very preliminary, sources at the talks told BNA. They come as the U.N. process starts to address the issues of air and maritime transportation for the first time since the issues were handed off to sector-specific regulators in 1997.
The smaller of the tax ideas involves a surcharge of 1 percent to 2 percent on fuel for maritime transport. Delegates said the rules of the International Civil Aviation Organization prohibit a similar tax on airline fuel.
The proposal for taxes on airlines would be far larger, with the 1 billion metric tons of carbon dioxide produced by international flights each year levied a special carbon tax of $30 per ton. Airlines would be allowed to trade for or buy credits for emissions. The money raised from the fee would be placed in a fund created to help poor countries adapt to the changing climate. . . .”
Good luck with this bill! More likely for DP requirement to go to zero than 5%.
Beach Bum-
Just a heads up about purchasing by the beach. Homeowners insurance. I had a heck of a time getting it on new construction. I’ve been dropped four times due to my proximity to the beach. I’ve never filed a claim. Each time I get a new policy the premium rises 20-30%.
They consider anything within a mile of the beach a high risk zone.
Beach,
You hit on something that I have focused on for a long time when looking at Shore property, isolating the value of the land and then figuring out whether the home itself makes sense on a price per sq. foot basis. In many cases, the “structure price” is so out of wack, it makes no sense to even try and eal with the sellers.
Why would one pay $150/sq foot for a wreck when one can build for that?
Anything within 100 yards of the surf, (open ocean) sometimes does not qualify for flood insurance at all which mean you can’t get a conventional mortgage. Homes on Dune Road in Hamptons are usually cash deals only as no one will give a mortgage on a house one big wave can take away.
anyone going to the Yankees game today?
NJC,
As high up as you are? Wow! I can see OG and south, where things are prettty flat, and of course Monmouth Beach and Sea Bright, but I would have figured you were okay.
I need some advice. Here’s my deal:
Our home purchase is moving along and it looks like we’re on pace to close mid November. I currently rent but never signed a new lease at the end of my last term in March 09. I verbally agreed with my landlord to continue renting status quo until March 2010. I was expecting him to send me a new lease but nothign was produced. We simply kept paying as if we were still under a lease. So now I have to inform the landlord that we’ll be moving out Dec 1. My plan was to find a sublease or new tenant if we found a house and needed to move. However, just the other night a fairly significant leak created water damage through out the wall in my dinning room. This happened last year where a flood came rushing through the ceiling in the same room. (This of course was the last straw for my wife and further validated our decision to buy.) The issue is from a leaky bathroom upstairs and took the landlord over 2 weeks to repair. I think this will significantly slow down my efforts to attract and market a potential tenant. What do you think the best way to move forward knowing there is $3,300 locked up in a security deposit?
A. Simply tell him we’re moving out Dec 1. and hope that he’ll understand and just expire our verbal agreement as normal.
B. Have him fix the problem immediately and scramble to find a sublease?
C. Come out of the gate strong and tell him we’re moving out and are not under agreement, the apt has issues and will peruse the issue in small claims court if he tries to keep the security deposit?
#40
“Since he is a BC grad, I fully expected Conan to be gifted in the art of condescension”
I believe Conan went to Harvard, but this would not diminish the rest of your sentence.
re: #81 - Secondary as of March 09 you are month to month, you can move anytime you want without notice. Just be courteous and tell them your move out date, so they can run ads hire realtors and do apt showings etc. You are under no obligation to find a replacement renter, if you know someone who wants to rent the place then fine recommend they contact the landlord directly to avoid a realtor fee, don’t bother running ads etc.
As far as security deposit, normal wear and tear cannot be deducted, and a leaky bathroom from another apt is not your problem. The landlord cannot keep your security for the water damage you did not cause just be sure to report it ASAP.
#81
” I verbally agreed with my landlord to continue renting status quo until March 2010″
here is your key sentence. You do not have an agreement to a 1 year lease since this would have to be in writing. what you have is a month to month lease, so you are under no obligation to find a new tenant.
@83 & 84
Thanks for your input. My concern over the deposit is that he’s going to keep it for “breaking the lease” (that does not exists) not the damage. He left himself wide open by not drafting a new lease but I’m just being realistic that he’s going to go bat sh!t and not simply hand over the money.
85 - filing a claim in the courthouse is actually very easy (in NJ anyway) –you can do it by mail. you fill out a couple of pages and pay 20-30 bucks. once he gets the notice in the mail of a court date, he’s likely to cough up the money. if it comes to that. otherwise the others are right, no lease means month to month.
Green shoots at my company. Cutting the muscle now.
Don’t pay last months rent and tell him to keep deposit. You are only screwing him if he is screwing you. Heck when I rented a place to nice couple who was buying a house I did walkthrough on the first of their last money and told them cool beans place is great don’t pay me the last months rent. Enjoy your life.
One time when we were tennants in a furnished place and SOB was stupid enough to tell us he was going to steal our deposit week before lease was up had a suprise or two. Bet he didn’t know bathroom curtains can be used as toliet paper.
Secondary Market says:
October 7, 2009 at 11:29 am
I need some advice. Here’s my deal:
@88
That crossed my mine but I’d still be conceding $1650 w/ no lease in place. I guess I won’t know how to handle it until I talk to him today.
Get that indian guy from Weeds to burn the mofo down.
“Some of the things Bernanke did were very bad, but he is in sharp contrast to Geithner who has been wrong about everything in his career. When Geithner was once answering a question in response to Ron Paul, he said, ‘I’ve never been a regulator.’ He was then the President of the New York Federal Reserve, and he purports that he was never a regulator? That is a demonstration of what is wrong with the Federal Reserve banks if the head of the unit doesn’t think he’s a regulator. He’s a disaster.”
http://www.newsweek.com/id/216785/page/1
Hawaii hotels post weakest summer ever
Industry revenue down an estimated $238M from 2008
Hotels in Hawai’i had their weakest summer on record — an average of 68.1 percent occupancy — according to a report released today.
http://www.honoluluadvertiser.com/article/20091005/NEWS01/910050353/Hawaii+hotels+post++weakest+summer+ever
[82] skep
Harvard, really? I will have to check that. Coulda swore he was touted as a BC guy.
Don’t worry Victorian, I’m sure Frank will show us that Honolulu real estate is on fire too!
You know who is still suffering is Vegas. I’ve been looking at rooms Nov 20-23 and the rates are the lowest I’ve ever seen.
Nom [93],
Crimson.
re: Belmar
The only time I was at that beach was at 6pm a few years back, people coming off the beach and the entire beach littered with ashed cigs, paper cup and plastic lids, etc. It was vile.
Buying Advice Wanted:
Young Jewish Affluent couple with young kid (maybe another to come) looking to build a home in Livingston, Springfield, Morristown or Denville. We can’t decide.
We don’t think we can deal with the JAP-factor in Livingston. Not sure we’d find other successful business owners in Springfield. Everyone tells us we’d want to send our kids to private school if we lived in Morristown. The lack of a synagogue in Denville may be a deal breaker.
If Denville had a temple, it would be the clear winner.
Suggestions?
[95] BC
my bad. had him confused with chris o’donnell. not the first time I did that
[91] BC
In fairness, the Fed is a number of things, only one of which is being a regulator. He may have been on the banking side, and have no idea whatsoever what BS&R does for a living.
That said, I think that Timmay is an unqualified disaster as a Treasury Secretary, though that is one of the hardest and most thankless jobs in DC.
Noah, five towns, great neck, Muttontown or Jericho. NJ is the wrong side of track for affluent jewish people.
The JAP-factor in Livingston/Millburn is not as bad as you might think.
97 - Have you considered Bridgewater?
Noah says:
October 7, 2009 at 12:49 pm
“Buying Advice Wanted:
Young Jewish Affluent couple with young kid (maybe another to come) looking to build a home in Livingston, Springfield, Morristown or Denville. We can’t decide.”
Now you’re in my world.
Livingston is varied, but yes, JAP’y, huge community though so your kids can go pubic school, lots of synagogue pre-schools and decent access to the JCC. Older communities are in West Orange, Maplewood. Summit has a decent sized community. Short Hills has the WS crowd. Florham Park isn’t bad. West Caldwell has a decent community too.
The Jewish community in that area is moving West if you want the young families - the newest center is actually Randolph and obviously Mendham is nice. Commute would be a big issue though.
Funny, my rich Jewish friend in Bridgewater moved to Jericho LI. That place is s dump in the middle of nowhere. When I went Hershey PA was in car for what seemed like years before I reached that exit.
Even worse my friend was job hunting and lost out on one or two jobs that after he moved he found out the employers were turned off by Bridgewater, they felt the guy would always be running out the door at five pm every night as Bridgewater is like a million miles from wall street and a long commute. Friend said I saved 200K on a house that cost me 500K in salary.
Bridgewater is full of Staten Islanders.
That alone marks it as a no-go zone for me.
Denville has a conservative synagogue, Adath Shalom. Oops, it says it’s in Morris Plains but it’s right on the Denville border.
biden in AC for Corzine/unions / its over
paid family leave/puts it over the top
freedy,
F*ck it all, I’m all for getting every and any handout from big brother. I’m done trying to carve a path and suffering from massive emotional and physical road burn trauma in the process. Let those who have more than I carry me. Go Corzine, go Omama and everyone else that wants to feel my pain.
My office is in Short Hills and I do most of my work in Union, Essex and Morris - so NJ is definately home for me. Bridgewater is a little outside my circle.
I’ll call Adath Shalom and see what % of members come from Denville. I grew up in Westfield, and the kids that were in my temple from Cranford or Scoth Plains were treated like “outsiders”. I don’t want that experience for my kid.
101 - we - why do I have the wrong impression? My wife did a few mommy classes in Livingston with the stay-at-home mom crowd and said everyone wore makeup and heels to a gym class for 18 month olds…
109 Gary,
unfortunately you will only get assistance if you make 66k or under with a family of 4.
#81
Talk to the landlord and get a sense of what he likely to to do.
The law is on your side.. you are on a month 2 month lease, no issues..
Send a certified mail to your landlord informing him about the leak ASAP. Otherwise, he can counter sue you for not reporting damaging stating that you wrecked the place when the lease ended, thus keeping your deposit for fixes.
Noah, years ago, my wife used to attend the mommy and me in Summit, she was the only mom there, the rest were nannies. I guess the recession has caught on.
I see a lot of upper Montclair types in the last few years in Livingston, liberal and professional.
No comments on the temple, I am not of that persusion.
#109
I was listening to the radio and they were talking about mental illness especially depression and they were saying that people who got laid of in this economy are more likely to suffer from depression. The illness doesn’t easily go away even though the patient finds a job! My advice, check yourself out with a doc..
test…
Nom [99],
One of their major responsibilities; supervising and regulating banks. He was the top regulator at the New York Fed. I guess a revelation to him.
I am a landlord myself and I have read through many residential leases, both my own and ones that I have signed.
Most all leases that I have seen contain a month to month provision that says that even though the lease is for 12 months if you continue to rent, the lease is in effect but on a month to month basis. This is in lieu of a newly signed rental lease.
In addition, those lease agreements usually stipulate that the security deposit CANNOT be used towards rental payments under any circumstances. Witholding the rental check as a way of recouping the security deposit will result in a breach.
Just some things to think about…
Without a signed lease agreement covering the period previously verbally agreed to then you should explicitly be working on a month to month. Read your rental agreement it probably states something in there to the effect.
Way OT,
But, why does the CIA have a kids page, with games?!!!
https://www.cia.gov/kids-page/index.html
FYI, I was looking at World FactBook for some information.
[110] Noah
Did you go to temple on East Broad? I am on the other side of Wilson School, and have a lot of friends at the temple.
[116] BC
Precisely, a revelation to him.
I am not condoning it, but I know from experience that the Fed’s work is so spread out that folks in one function cannot fathom what happens in another sphere.
That said, he shouldn’t have disclaimed his role as head of a regulatory body as not being a regulator. But I understand the mindset.
Apparently, the U.K was well on its way to a SHTF event last year.
http://www.bloomberg.com/apps/news?pid=20601109&sid=aMfETcYI2t7Y
[118] brklynhawk
weird, especially the little trenchcoated figures, talking into their shoes.
Amazed that this gov. still allows indoctrination of young minds. Oh, wait, I forgot about the I love Obama songs taught in our schools.
My friend who worked at Fed 7 years only job was to read certain publications and summarize it in a briefing every day to the chief economist. He said day was cheap breakfast in cafe, maybe work out at subsidizedn gyn and bring subsidized lunch to his desk to eat while he finished up summarizing his assigned publications then hit the send button and head out at 5 pm sharp.
Comrade Nom Deplume says:
October 7, 2009 at 2:21 pm
[116] BC
Precisely, a revelation to him.
I am not condoning it, but I know from experience that the Fed’s work is so spread out that folks in one function cannot fathom what happens in another sphere.
That said, he shouldn’t have disclaimed his role as head of a regulatory body as not being a regulator. But I understand the mindset.
Nom [120],
A lackey, OK. The head of the New York Fed for more than 5 years and a Vice Chairman of the FOMC? Not buying it. Akin to to a fire chief that doesn’t realize he is is the business of putting out fires.
is in.
Between BC Bobs Gold call and my muni/junk bond calls this is most likely the richest site on the web!
Guys just go buy a house now that you doubled your downpayment money in 12 months.
Municipal bonds are having their best year-to-date returns in at least 20 years.
Even with yesterday’s price declines, the Municipal Master Index, compiled by Bank of America Corp.’s Merrill Lynch & Co. since 1989, is up 16 percent for the year.
noah (97)-
You better find Jesus if you want to build a house in any of those NJ towns.
Turning water to wine isn’t as tough a trick.
…good luck getting a construction-to-close loan, too.
It isn’t very green to build a house. I would automatically hate anyone who knocked down a house near me and built one. I get all the dirt, traffic, noise and problems while new owner walks into new home. If it is a builder I don’t care but if the individual owner make my life a living hell for 12 months I ain’t exactly baking him a pie.
Gary boy toy for cougars is way to go. MEOOOOOOOWWWW, time to feed the COUGARS!
gary says:
October 7, 2009 at 1:27 pm
freedy,
F*ck it all, I’m all for getting every and any handout from big brother. I’m done trying to carve a path and suffering from massive emotional and physical road burn trauma in the process. Let those who have more than I carry me. Go Corzine, go Omama and everyone else that wants to feel my pain.
BC (116)-
At least Timmay’s an accomplished criminal and a pathological liar.
Re failed states:
California is just the tip of the iceberg!
sample:
Connecticut: A continued drop-off in tax revenue threatens to plunge the new state budget into a $500 million deficit, Comptroller Nancy S. Wyman reported Thursday
Pennsylvania: Hopes for state budget vanish;wo weeks ago, leaders of three of the four legislative caucuses and Gov. Ed Rendell announced they had a framework for a new spending plan that would end a weekslong budget impasse. The deal fell apart after Thursday when House Democrats made changes that aren’t expected to pass muster with Senate Republicans.
New York: Is Anyone Willing to Cut the State Budget?
The state faces a mounting budget deficit but accounts of its size vary. Early estimates pegged the gap around $2.1 billion, but because income tax revenue has been lower than anticipated, [Gov.] Paterson has said the gap could reach $3 billion or more.
Ohio: Supreme Court ruling throws state budget back into the wind
* Governor Ted Strickland and the Ohio General Assembly made a bet in mid-July that expanded gambling could fill a roughly $1 billion hole in the state’s two-year, $50.5 billion operating budget. With the budget now finalized around that bet, it appears they could still lose it. The Supreme Court of Ohio ruled 6-1 last week that their plan to collect an estimated $933 million from as many as 17,5000 new video lottery terminals that are yet to be installed at the state’s seven horse racetracks is subject to a possible voter referendum.
* Helping to complicate the issue is roughly $6 billion of one-time stimulus money from the federal government….
Kansas: State revenue slides - big time - in September
*Early reports say Kansas state government took in $67 million less than expected this month.
Iowa: Iowa lawmaker expects another round of state budget cuts
* [..] the nonpartisan Legislative Services Agency issued a report indicating that state tax collections are running $141.1 million below last fiscal year’s first quarter following a double-digit plunge again in September.
Massachusetts: State braces for more cuts as new taxes can’t stop revenue dive
* Despite spending reductions and massive tax increases, state government continues to exceed taxpayers’ price range, new revenue data shows, as September receipts crashed $333 million below a year ago. State tax collections fell $243 million below estimates last month, the Patrick administration said Friday, likely triggering spending reductions just three months into the fiscal year. Monthly revenues were down 15.9 percent from a year ago, and the first quarter of the fiscal year has produced $477 million less than last year’s, $212 million below what budget authors thought they would have on hand.
Illinois: Budget problem worsens as time goes by
* [Gov.] Quinn received a major setback earlier this week, when a Southern Illinois judge ruled that the he could not proceed with the layoffs of 2,600 state employees until after union grievances are resolved. It’s reasonable to expect that AFSCME won’t move ahead with those talks quickly. To date, the union representing the largest number of state workers has fought Quinn’s budget cuts at every turn. The union has refused to agree to furloughs or wage freezes, forcing Quinn to order layoffs. Now those layoffs are indefinitely delayed.
Mississippi: Budget: Worsening by the month
* State revenue collections are getting worse by the month - as they have been for the last 13 months. The State Tax Commission reported Thursday that Mississippi’s tax collections fell 10 percent short of expectations in September.
Arizona: Arizona budget deficit jumps to $1.5 billion
* The state budget deficit has jumped to $1.5 billion as budget officials revised their estimates based on continued gloomy tax collections. At the Capitol, lawmakers and the governor are engaging in what’s become a rite of fall, playing verbal footsie about whether they’ll move sooner or later on closing the spending gap.
Oklahoma: Oklahoma’s budget cuts hurt programs that help poor
* Dr. Edd Rhoades, deputy commissioner of family health services for the Health Department[..], said all programs at the department took cuts as the agency absorbed an overall budget cut of 7.5 percent. All state agencies are trimming their bottom line as the state sees a decrease in its cash flow. “The reductions have to be made somewhere,” Rhoades said. “We’ve tried to minimize them so they don’t impact delivery of services. But if we see future cuts, it’s going to start having a great impact on services.” Many programs that received Health Department funds serve the elderly, children and the disabled.
Michigan: State budget puzzle grows increasingly hard
* In the end, based on the actions, or lack thereof, thus far, we expect that important programs, including some that serve veterans, students, the poor and the hungry, will be cut well below effective levels. Some minor changes in taxation may or may not be approved. And federal money will fill in some — but not all — of the gaps.
Welcome to the Greater Depression
One day closer to oblivion.
NJ is in good shape, joe biden told us
so today in AC. unions will take care of
the problem,
raises for all.
Imagine how shocked everyone will be when Corzine wins.
Doesn’t matter; we’re fcuked either way.
I’ve been looking for a rental in Edgewater for a while. However, if you’re not signing with one of the apartment buildings directly on river road, your options are limited and you’re bound to end up in some dumpy victorian or behind a car repair shop in Cliffside Park.
Recently, I’ve been toying with the idea of renting in the UWS/Morningside Heights area and reverse commuting over the GWB. My boss, who commutes from Central Park West/60’s daily, claims this commute is quite humane.
For Edgewater prices, I could find a 1BR on riverside drive or something NW of central park around the Columbia area with the 1 train around the corner.
Is this a half baked idea?
corzine’s a lock, unions have it all to
themsleves,, the guy has never met a
raise he did not approve.
NJ is a welfare state, and they,the unions
will get out the vote.
loss cause.
#132 There is no money. Anywhere. There is only debt.
Re 132, remember a state cannot declare BK, a state GO bond gets backed by Uncle Sam. However, NYC, sewers, hospitals, toll roads, counties, towns, cities muni bonds can all go down the sewer. Now a sewer bond going down the sewer would be funny. Besides it is circle of life time here, Uncle sam reaches into my paycheck to pay the interest on the bonds I own to me!! Love it.
Oh look,
i found a video of the US taxpayer, the steak…
http://www.youtube.com/watch?v=PMD5FS20tTY
GO Bond is full faith and credit of the state government, not backed by Uncle Sam, unless we are talking abour pre-res escrowed in Treasuries.
Although I suppose in this age of bailouts, Uncle Sam will bail out states muni bonds too, but prior to that, happening, State GO bonds ARE NOT backed by Uncle Sam.
Zack #114,
Nothing a little xan@x, hydrocodone and a sip of vino won’t handle.
3b, GO bond is back by full faith of state but it is illegal for a state to declare BK. Uncle Sam either steps in or lets Al-Quida buy up debt at pennies on dollar and take over state.
GO Bonds full faith and credit, means that the state will do whatever it takes including raising state income tax rates to 100% if necessary, but still not backed by Uncle Sam. Since a state has never declared Bk yet, we will have to wait and see if the Fed govt would/will step in, were BK to happen.
Is freedy a wind-up doll?
yes, victoria
Coming soon to a city near you:
Several people were trampled at Cobo Center in Detroit today. Thousands showed up to get applications for federal aid for housing and utility bills.”People in wheelchairs and others using canes were being leaned on by people too weak to stand.”
http://www.detnews.com/article/20091007/METRO01/910070396/Chaos-at-Cobo–Detroiters-demanding-federal-help
Theres always hope. I think it will be found with these guys.
http://www.youtube.com/watch?v=5n0c9vM44×8
3b let them do try it. I got some Parks department, MTA, Port Authority, SUNY Dorm, LIPA, Water bonds etc. When I control
First thing I do when I sieze Port Authority and all bridges and tunnels is cut off SI and NJ from Manhattan. Then kill power and water unless I get cash. I love it. I will be king, default baby default I am king of the world.
Going all James Cagney here.
148 John
I’ve said for many years that the bridges should be picked up off SI and send SI floating away somewhere.
Speaking of SI
Tosh, have you looked at Bay Street Landing lately? Seems that some prices are starting to drop.
Tosh, have you looked at Bay Street Landing lately? Seems that some prices are starting to drop.
I have no idea why anyone would pay that kind of money to live on Bay Street. That Ferry is disguisting and it’s reaallly cold commuting in jan and feb.
151 Make
I have no idea why anyone would pay that kind of money to live on Bay Street. That Ferry is disguisting and it’s reaallly cold commuting in jan and feb.
Most people don’t see it either. That’s why the new buildings aren’t selling. But you know, somehow it’s different in Bay Street Landing.
Our wonderful society….
http://www.boston.com/news/local/breaking_news/2009/10/4_teens_arreste.html
MONT VERNON, N.H. — The four teenagers accused of breaking into a home here and using a machete and a knife to butcher a mother and her 11-year-old daughter allegedly chose their victims by chance.
“They picked the house at random because it was in an isolated area,” prosecutor N. William Delker said today during the teens’ arraignments in Milford District Court. “Before they entered the home, all four defendants were aware that the intent was to kill the occupants.”
The violent whim allegedly took the teens to the home of Kim Cates, who lived in one of four houses on a quiet dirt road in this bucolic town about 13 miles north of the Massachusetts border. At 4 a.m. on Sunday, they are accused of breaking into the ranch-style home and killing Cates, 42, and severely injuring her daughter.
Prosecutors allege that Steven Spader, 17, drove that night and carried a machete, a detail that elicited a gasp of horror from the gallery when the crime was described in court.
Our wonderful society….
http://www.boston.com/news/local/breaking_news/2009/10/4_teens_arreste.html
MONT VERNON, N.H. — The four teenagers accused of breaking into a home here and using a machete and a knife to butcher a mother and her 11-year-old daughter allegedly chose their victims by chance.
“They picked the house at random because it was in an isolated area,” prosecutor N. William Delker said today during the teens’ arraignments in Milford District Court. “Before they entered the home, all four defendants were aware that the intent was to kill the occupants.”
james (147)-
I always liked the Michigan Militia.
http://www.elyrics.net/read/m/moxy-fruvous-lyrics/michigan-militia-lyrics.html
Moxy Fruvous playing Michigan Militia…
http://www.youtube.com/watch?v=RKy5tk7QOl0
Gary,
Here is a virtual online job fair in financial services for October 21:
http://events.unisfair.com/index.jsp?eid=428&seid=25
Don’t curse the darkness; light a candle :)
municipalities can declare BK under the code (Ch. 9), but there is no provision for entire states to do it. Since states are sovereign, it would theoretically be like a country defaulting on its debt. Bondholders could try to sue in federal court, but again, due to the sovereignty issue, the fed government almost certainly would be powerless to make a state pay. seems to me the “full faith and credit” part of a muni bond is not worth much in the end if politicians will be voted out of office for raising taxes.
#148
“First thing I do when I sieze Port Authority and all bridges and tunnels is cut off SI and NJ from Manhattan. Then kill power and water unless I get cash. I love it. I will be king, default baby default I am king of the world.”
interesting idea, but don’t forget you would be relying on NY courts to enforce your contract and guess who pays the judiciary’s checks– the NY legislature. At the end of the day it seems unrealistic to believe that politicians will favor faceless, often out of state interests above voters if sh*t really hits the fan.
scribe [157],
You are too kind! Thank you! :)
153. Yep, I mean if you have ever been over there you know there isn’t a lot to do. Great way to bond.
Gold at an all time high, my silver went up 45%, mining stocks have gone up more than 400% in the past 11 months. At some point, you’d think people would stop badmouthing precious metals.
Dougie Kass..love it …basic quote… cost cutting doesn’t fill the belly of the consumer beast, no self sustaining economy in 2010-2011.
“Dont curse the darkness; light a candle :)”
That sounds very California.
More appropriate to NJ might be, “Dont curse the darkness; find the SOB who turned out the lights, work him over, kneecap him, and dump his nearly-lifeless body in the middle of the street with a light switch stuffed in his mouth as a warning to anyone else who might even consider turning off the freaking lights.”
163. comment of the week. IMHO
Yes - Emanu-El in Westfield. It’s giant now. I would consider moving back to Westfield if my Mom didn’t live there…
Noah, do you really think the kids from Cranford were treated like the poor relations or was it just that they were further and so nobody knew them?
I like Cranford.
Anyone see ABC evening news reporting on Detroit? 3500 appilcations for federal aid, 35,000 people showed up for the 3500 spots! Makes me sick to my frinken stomach that we gave 2 billion in aid to Pakistan this year and we have this going on in our inner cities. Yea yea war on terror, guess what if we dont fix this we will have our own war right here in our own back yards. 35000 people can start on hell of a riot!
Can we tailgate and cook up some raccoon on a portable grill at this riot?
Dude, marty, just because we’re poor doesn’t mean we don’t have to ply the neighbors with ten dollah wine and Triscuits and Cracker Barrel Vermont when they stop by, hungry.
And we never, never disclose that the booze is on the card.
John says:
October 7, 2009 at 2:38 pm
Municipal bonds are having their best year-to-date returns in at least 20 years.
we’re 1-for-1 in muni bonds. the plan was to put enough into a muni so that the wife could stay at home for 2 yrs.
just hope that muni bubble doesn’t burst before summer of 2011
would love to try and hear spin on this one
http://www.freep.com/article/20091007/NEWS01/91007043/1320/Chaos-reigns-at-Detroit-aid-event
where does this happen next, Cali?
las vegas?
For all you night owls, here’s something to watch overnight.
http://quotes.ino.com/chart/?s=NYBOT_DX&v=s
The dollar is dead, long live the dollar.
From the BBC. What is our explosive growth in higher education costs buying us?
“Europe strong in university table
“A table of leading world universities shows a fall in the number of North American universities in the top 100 from 42 in 2008 to 36 in 2009.
The sixth Times Higher Education table is based on a survey of academics and graduate employers worldwide.
There are 39 European universities in the top 100, up from 36. The number of Asian universities rose from 14 to 16.
Harvard is still top, while Cambridge moves up from third to second place. Oxford slips from fourth to fifth rank.
University College London jumped up three places from seventh to fourth.
“The University of Tokyo, at 22nd, is the highest ranked Asian university and the University of Hong Kong moved up two places from 26th to 24th”
snip
R U kidding me? No way…
yikes,
i wouldnt be suprised if it happened in philly next
Woooooohooooooooooo! Last.
What a last? ……market going to rocket today !
it will happen in trenton,camden,plainfield,garfield,lodi,
elizabeth,NJ the garden state.
I don’t know of any Tom bartender except Tommy Cahill and I bartended at Mary’s for 7 years!