Mon 8 Feb 2010
The article isn’t important, but the comments are, especially when they are from a mainstream NJ news paper. From the Star Ledger:
Aging Baby Boomers changing real estate
Comments:
nokelhead
Posted by nokelhead
February 05, 2010, 8:43AMThis about a stupid an article as I have ever seen. And they say that I am a nokelhead.
…
Posted by dagesq
February 05, 2010, 10:03AMI agree nokel!
Real estate brokers will NEVER say publicly what they say privately:
the real estate market STINKS!This is just another puff piece to fill space.
…
Posted by ellanj
February 05, 2010, 10:14PMI agree as well. This person either totally delusional or a liar. I’m a 33 year old still renting and truth is we don’t need (or want) all those ‘luxury’ mcMansions sitting empty - when my husband and I decide to buy it certainly won’t be in a state with such overpriced and overtaxed housing.
…
Hal12b
Posted by Hal
February 06, 2010, 8:32PMReal estate agents are all insane. They pump out all these bs articles trying to promote an immediate need for people to buy now. Sales may be up but what they are neglecting to say is that nobody is getting what they want. Home prices will continue to plummet for a while. The government will not make the same mistake or at least in our lifetime and give free money to people that can’t repay it. On top of the highest property taxes in the nation, nj home prices will drop for another2-3 years if not longer.
My my, how times have changed.
I think some simple supply and demand will dictate the future prices of large homes with supply increasing and demand declining. No Rocket Science here.
wow! ghost posts…. there, then gone..
sl
It was just too mean.
Your going to love this chart, boy are we on the hook.
http://static.seekingalpha.com/uploads/2010/2/6/saupload_sifma_issuance_25_g3.jpg
Banksters don’t care about party lines, they only care about those who will protect their interests.
Democrats and Republicans alike are both prostitutes thinking the rich Wall Street John really is in love with her.
From the NYT:
Irked, Wall St. Hedges Its Bet on Democrats
If the Democratic Party has a stronghold on Wall Street, it is JPMorgan Chase.
Its chief executive, Jamie Dimon, is a friend of President Obama’s from Chicago, a frequent White House guest and a big Democratic donor. Its vice chairman, William M. Daley, a former Clinton administration cabinet official and Obama transition adviser, comes from Chicago’s Democratic dynasty.
But this year Chase’s political action committee is sending the Democrats a pointed message. While it has contributed to some individual Democrats and state organizations, it has rebuffed solicitations from the national Democratic House and Senate campaign committees. Instead, it gave $30,000 to their Republican counterparts.
The shift reflects the hard political edge to the industry’s campaign to thwart Mr. Obama’s proposals for tighter financial regulations.
Sh*t I missed the mean stuff.
Was the mean stuff centered around the fact that the lady who wrote that article looks like an aging tranny?
More so disappointment, I expected a bit more than a scripted advertorial from this particular reporter.
C’est la vie, the Editor signs the checks, so he calls the shots.
Think the PIGS Are in Trouble? These 7 U.S. States Could Be Heading for Something Worse
http://seekingalpha.com/article/187051-think-the-pigs-are-in-trouble-these-7-u-s-states-could-be-
You know we are on this list of winners.
“As with other US states, they face looming policy clashes between protected state and city workers on one hand, and the growing ranks of the private economy’s underemployed on the other.”
Sound familiar.
your going to pay a premium to live in
north jersey,, Bergen County , and that’s
that.
*sniff* Ah… the smell of mean in the morning…. (time to go get coffee…)
OT: started reading “Atlas Shrugged” - so far, so good.
sl
“The problem is in the increasing amplitude of these swings, in both directions. It really makes you wonder just what the hell the BLS is doing and why.
I have data charted all the way back to 1999. Prior to January 2009, the biggest January swing was .6 percent, in both 2004 and 2003. In 2008 the January swing was only .5 percent.
The amplitude of January swings in both 2009 and 2010 was .9 percent, way outside the data range for the last 10 years, by a factor of 50 percent (.3/.6).
Likewise, the prior swings in October peaked at -.4 percent on a couple of occasions but hit -.7% in October 2009.
Unless it’s different this time (I figure it is not) a reversion to the mean that slightly overshoots in a May-June timeframe will lop off a whopping 1.3 percent off the posted seasonally adjusted rate of 9.7 percent just announced.
In other words, all things being equal (no job gains or losses), we could expect to see the unemployment rate approach 11% by May! Of course we have to factor in actual job growth (or lack thereof). We also have to factor in census bureau hiring.
Heaven knows what census hiring will do to the BLS algorithms. Your guess is as good as mine. However, whatever it does, census hiring will also revert to the mean.
Also remember that it takes 100,000 to 120,000 jobs per month just to hold unemployment rate steady. Think that’s going to happen? If so (and again discounting census hiring), then you are living in Bizarro world along with everyone else who thinks the unemployment rate is going to come crashing down.”
http://globaleconomicanalysis.blogspot.com/2010/02/bls-seasonal-adjustments-gone-haywire.html
OMIGOD…. Abe Vigoda is alive…
sl
http://static.seekingalpha.com/uploads/2010/2/8/saupload_us_employment_declines_jan10.png
Check out this chart after reading CCR’s 12.Housing is going to go which way?
No jobs,so no buying a house,and or no paying the mortgage.Link below more info.
http://seekingalpha.com/article/187198-digging-deep-into-the-unemployment-numbers?source=ar
Let’s just start with the assumption that actual UE is about 22%.
That OK with everybody?
Mike #4: Do you think your chart will change a bit with the banks being forced to take back some of the mtgs from Freddie et al that were fraudulent?
What happens to the FNMA and other similar gov’t short term bonds as the housing problems continue?
Do they just drop in value? I assume they are backed by the gov’t so they would rather have the value decline then going bust so they don’t have to cough up more $ to pay for them.
Everything will be fine….Sarah Palin is here!
Yes, now we know that “Tea Party” movement has been completely co-opted by the Neocons. Silly angry sheeple. You should no better than to gather in groups. You make it too easy to be infiltrated.
On a brighter note, WHO DAT?
Nomad 15 On take back of loans I do not have the #s so it is hard to tell if they will put a dent in it. I doubt it.
As far as the bonds that would be a best case. Wither it plays out that way or not they are holding a lot of crap.
Thanks Mike.
Lots of Short Term Fixed Income Mutual funds loaded with the GNMA and FNMA bonds which seems like a disaster waiting to happen. Guess I will leave the cash in the mattress!
Anyone got any ideas for stable short term (6 -24 months) places to keep the downpayment on the house?
17 Hehehe
WHO DAT is right!
Clot since Abe Vigoda was tackled last night and lived, is he still in the death pool?
“From the NYT:”
I love that NYT is turning to the right (dark) side, they blast Omama all day long and praised Palin like she’s the next Reagan. How quickly they changed their opinion.
lost (21)-
That dude is an android. He will never die.
I don’t have him in my current deadpool. Too many Lindsey Lohans out there who could have an accident, OD or kick at any minute.
#19,
HIX and PHK = 12%
frank (22)-
Please whack off to Palin in private.
Thank you.
time to put away the “FAIL” meme. Time to put away “meme” too…
John Thain. One more reason to hate CIT, loanshark to small biz in Amerika.
Eraserhead says it’s all gonna be OK.
Batten down the hatches.
#25,
Slow day in Newark ROEs???
frank-
REO, idiot.
REO is not where the action is. Just another tentacle of pretend-and-extend. That’s whey frank is all over it.
One for the lumber junkies. Still time to short this baby into the crapper:
http://www.businessinsider.com/lumber-futures-spike-before-housings-last-gasp-2010-2
who dat? some game
if you’re up for some flashing on bourbon street, here’s a pic from last night (nsfw)
http://is.gd/7Wluv
Another pity party going on today here.
Frank makes deals. The rest of you lambs squeal.
Yikes: not all wiseguys are in NJ. Check the blog post….
33.Yikes says:
February 8, 2010 at 9:24 am
who dat? some game
if you’re up for some flashing on bourbon street, here’s a pic from last night (nsfw)
GreatShatnersGhost Says:
February 8th, 2010 at 8:08 am
Did anyone decide to cancel that abortion after the Tebow ad aired yesterday?
No?
#23 The Condition Code-Red
“I don’t have him in my current deadpool.”
What kind of sick morbid person takes part in a dead pool? No wonder why you are so angry and negative.
Had my money on Fidel for way too long. Like a bad buy-and-hold.
I’m taking Heavy Hitter in my new deadpool.
I’m angry. Anyone with a brain should be; we have been robbed blind.
Negative? Not so much. You should see my clients. Now, that’s negative.
Fidel is the Hispanic Abe Vigoda.
#40 small red
Clients? All 2 of them? Or do you count the aphids hiding in your potted plants as clients too?
Heavy Hitter is Orin Kramer.
Hey small Red,
At least I don’t look like Eminem and Marie Osmond’s love child.
#44
And I don’t mean to insult either one of those great entertainers.
44,
Aw… so little, so bitter…. did your latest trades go bad, HH? Tsk. Tsk.
sl
another day, another troll to starve.
God help us all.
sl
For Bergen Hunters:
168 Kemah Rd in Ridgewood just sold for 11% less than it’s 8/8/03 purchase price.
Orin helped elect our president. What have you done besides spew negative nonsense in a virtual community?
frank, I think all of us here are united in our fervent wish that you die.
#47 still looking
What did I ever do to you medicine woman? Do I show up at the clinic telling you the proper angle to sprinkle eye of newt around?
Quack quack.
#50 small pink
you are really a negative person.
What’s with all the Nokelheads here this morning?
#50,
Go back to chasing REOs at the court house, don’t worry about the death pool.
#52,
No he’s not, just another typical NJ RE agent. They are all the same, one step above a criminal.
Hey frank aka HH (hamster humper)
don’t you have some pine shavings go to wipe off of your little p3nis?
sl
An open message to the Republican Party from a fiscal conservative and social libertarian, registered Independent (i.e. your vaunted swing voter):
I will vote any other ticket in 2012 should Palin appear anywhere near your ballot.
Schumer. Sanders. Clinton. Pelosi. Frank. Nader. Spring Lenin from his mausoleum and run him.
They will get my vote before the Republicans with Palin.
DO YOU HEAR ME?
Why is this empty suit lightweight still around, let alone relevant?
Leftwing
it wont be the republicans or the democrats that fix this mess. They are both owned by corporate interests.
Both parties are far to entrenched to ever consider actually changing anything. why would they? They would be taking the silver spoon out of their own mouths.
Left,
also note that both parties have decided that the extreme ends of the political spectrum are where they are most secure. The republicans have embraced the religious conservatives (aka american taliban) and the democrats have embraced a “liberal” platform that would make Lenin proud.
Its much easier to control a population when you keep them polarized between extreme ideals and exclude moderate positions
Sarah Palin is not the savior, pure and simple.
How about this as an existing platform for some enterprising candidate to capture the zeitgeist as a viable thrid party?
http://www.lp.org/platform
Batting near 1.000 in my book.
left
http://www.allacademic.com/meta/p_mla_apa_research_citation/2/6/8/6/0/p268606_index.html
here is one example of many studies i have seen that suggest that given the structure of the American political system, any serious 3rd party is unlikely with out substantial changes in the system.
Its good to see frank/hh is actually being funny today.
Of course im referring to his investment advice at 24.
Now THIS is a great use of taxes. This is a map of the quadrant of Howard County Maryland that contains my parents’ street.
http://snow2.co.ho.md.us/GridMap.asp?Col=9&Row=8
It updates every 15 minutes to tell whether each road has been salted, plowed, both, or neither. It even shows where there are plow trucks. Pretty amazing.
#63 veto,
You are another negative ninny on this board. Your handle alone gives away your emotional state. You “veto” while I’m a “heavy hitter”.
Mr Hyde,
Im curious, what exactly has been so “liberal” about the democrats goverance?
plg
not having that debate with you here. More then happy to do so at a GTG.
I find it hilarious that DC has been shut down today, announced on Ronald Reagan’s 99th birthday and just few day after Scott Brown was sworn in and on the eve Global Warming meltdown. Let the shutdown continue forever!
Interesting, WINS 1010 is predicting 12″ to 18″ of snow starting Tuesday evening through Wednesday, with high wind & blizzard conditions. Guess I’ll have to use the blow dryer, to get rid of Saturdays snow before the next one comes.
grim says:
February 8, 2010 at 9:32 am
“Had my money on Fidel for way too long. Like a bad buy-and-hold.”
They’ll probably do a Brehznev on him - embalm and wheel him out held up with sticks. Like a human muppet.
hope that by Reagan’s 100th birth, DC (and Trenton) has been shut down permanently.
“Sarah Palin is not the savior”
Apologies to Monte Python and to B.O. (who seems to still think that he is):
She is not the messiah, she is just a naughty girl.
confused in NJ says:
February 8, 2010 at 11:03 am
“Interesting, WINS 1010 is predicting 12″ to 18″ of snow starting Tuesday evening through Wednesday, with high wind & blizzard conditions. ”
Hmpf. Kids are already off on a 5 day weekend starting Thursday, looks like Wednesday might be on the cards too.
I remember the good old days when people tried desperately to enter the US and people in communist countries risked their life to escape. Well, those days are long gone.
“TOKYO – A body was found inside a wheel well of a Delta Air Lines plane after it landed in Tokyo from New York, and Japanese authorities Monday were trying to identify the man.
The body of the apparent stowaway was clad only in a long-sleeved, plaid shirt and jeans, police at Narita International Airport said.
A mechanic found the body lying inside the landing gear compartment of the Boeing 777-200 during maintenance after Delta Flight 59 landed Sunday night, police official Zenjiro Watanabe said.
All we know is that he must have sneaked in just before departure, because it is impossible for him to enter the storage during flight,” Watanabe said. Police are trying to identify the man.
He had no visible injuries except frostbite and may have died of hypothermia, Watanabe said. The temperature in that part of the plane falls to about minus 58 degrees (minus 50 degrees Celsius) during the long flight.”
Hey ChiFi-
Our Califon pals have listed for the 4th or 5th time (I’ve lost count) with yet another agent. Now under 1mm; too bad the dump is worth about 700K. GSMLS #2744390.
How long until they’re broke? I have an investor who would probably pay 620K or so, cash.
“Im curious, what exactly has been so “liberal” about the democrats goverance”
They have tried but have been 1)inept in using the levers of power (when has a party with the House, the White House, and a clotsure-proof Senate ever achieved so little), and 2) stymied by the Republican’s skillful use of Senate rules.
Don’t just look to legislation. One must look to nominations, and CFR changes, and Executive Orders in order to judge a regime.
jamil (74)-
That is nothing more than a classic case of TSTL.
Maybe Clot can give me a spanking. I have been very naughty and not watching out for the bad ol’ Ruskies lately.
TSTL?
Saddest part about her is, she’s hot until she opens her mouth.
TSTL = too stupid to live
Sarah
why dont you just take the pron movie deal already and end the circus.
That N.O. flashing picture is gross, man. Yeesh. What a flabby gut.
#82
I’ve had better.
Amazing the vitriol that SP draws. If only she were as well-qualified as a little-regarded governor of the 49th-ranked state in the nation who successfuly ran twice for President.
“she’s hot until she opens her mouth”
Have you not know hundreds of women who fit that description. When one is 18, one tends not to care As one gets a bit older, the lack of substance becomes more and more of a problem.
known, even
This story is so vapid I don’t see why it’s taking up space …
clot, grim
Do you/did you ever see Baby Boomers as the main buyers of McMansions (??)
“If only she were as well-qualified as a little-regarded governor of the 49th-ranked state in the nation who successfuly ran twice for President”
Thomas Dewey?
“Amazing the vitriol that SP draws”
I actually voted for her. Well, for McCain bur her by extension. But, that was only because I feared that B.O. would be as bad as he is showing himself to be.
o paraphrase, I don’t remember who, Sarah Palin is a 22 calibre intellect in a 357 world. She is a spent force in terms as getting elected, but I don’t think se seeks that anymore. She wants attention, and the riches celebrity brings.
I wasnt suggesting SP is pron material. just that such a spectacular flameout might cut down of the BS.
I believe she was offered 1million + for a video of her and her husband.
I personally have no interest in see that. I might find 2 girls 1 cup more entertaining.
Per Fitch; ‘Prime Jumbo RMBS hitting %10 delinquencies’
http://www.calculatedriskblog.com/2010/02/fitch-prime-jumbo-rmbs-approach-10.html
SP is laughing all the way to the bank.
#93 - SP is laughing all the way to the bank.
As long as she isn’t laughing all the way to a high office, fine.
PGC,
Since you didn’t address my comments but stuck to yours, I’m going to avoid the political debates with you and remain talking about real estate.
Saw a nice condo in Verona yesterday until the $9k in annual taxes and the 400 a month maintenance punch you in the mouth.
“SP is laughing all the way to the bank”
To prarphrase Mario Puzo:
If she is in demand by the TV networks, let her draw water from that well. After all gentlemen, we are not communists.
Palin is just enjoying the money train and it keeps on rolling so long as she flirts with running again.
Danzud 95 - Is that tax amount before or after the Verona reval?
Here’s a link to see the impact of the revaluation on taxes for that town:
http://asinj.com/revaluation.asp?p=current&id=23
Tosh,
but, but, but, i thought the problem was SUBPRIME?????
danzud,
That is all? And SO CLOSE to Manhattan. Such a deal!
I have a customer that is big in the Tea Party movement. Can’t really discuss politics with him because he doesn’t really know anything. He really just hates Obama.
SP just might become the next Rush Limbaugh. and I think we might be in agreemenet that he is a capitalist.
Fun in the city!
One Madison Sq. apt listed for $10mil sells for $6.3mil. Still a decent amount of change, but ouch.
http://curbed.com/archives/2010/02/08/one_madison_park_sale_falls_short_of_10_million_rumors.php
d2b,
He has good instincts.
The sad thing is that B.O. has not been capable of really grabbing the reigns of power, and this leaves the question, who is currently the pezzonovante?
“who is currently the pezzonovante”
Ummm….Lloyd Blankfein?
reins, even
Grim, where did you get the blog quotes from today’s headline topic?
It looks eerily reminiscent of the average conversation at NJ REREPORT
although the handle ‘nokelhead’ does not ring a bell.
Gator,
22 Mount Vernon Square. Looks like the increase is 4%.
Shore Guy,
Good one. Verona and NYC being close. Wifey liked the place but concerned about drive to upper east side even though she’s at work by 7.
Stu,
I think B.O. is finding out that Lloyd has him on a leash and collar.
The Knack RE agency says:
Oh, you know you’re overpriced
Overpriced
And you know you aren’t Montclair
Veronna
Is there any reason that the crappy capes in Fairlawn asking in the 500-550k range don’t look any different that the crappy capes in Fairlawn asking in the 320-360k range?
Memories. They have better memories. Oh, and larger HELOCS.
Shore Guy:
Yup. I don’t even know why people put such vast amounts of energy and focus into these clowns who supposedly represent us.
Here’s an idea. Let’s fake a natural disaster. Perhaps claim a tsunami in Hawaii wiped out the islands. Cut all communications to the islands and then have all the sheeple text “H-A-W-A-I-I” to 90171. Collect all of the money and use it purchase change from Washington DC. Tea Parties, independents, blah, blah, blah. You can’t affect improvement for the 99% unless you can afford to purchase it. Considering the ever increasing income gap since 1980, I’m pretty certain we are permanently screwed.
They may also be the ones closer to Manhattan.
Until we remove the incentive to remain in office forever (pensions), we will not solve the basic problems plaguing localities, states, and DC.
stu 115
welcome to argentina…..
Danzud 109 - And then add in the standard tax increase for 2010 on top of that. I’d wager the taxes would be more like $9700 for this tax year.
Hey - But there is an Original Famous Ray’s Pizza in Verona. Totally worth it.
There is an excellent bagel shop in Verona too.
If SP wants to take Opr@h’s place, I welcome it.
Let her talk about yeast infections and abusive boyfriends on afternoon TV all she wants. That’s about her speed.
I think it’s also OK for Fox to present here as a qualified political commentator. She’s at about their IQ level, so it’s a good fit.
We are double-fcuked:
“The combination of the Fed’s desire to stimulate lending via cheap money and the government’s desire to stimulate the economy by running a huge deficit has made it a great time to be a bank: Banks can borrow from the government at artificially cheap rates and then lend the money back to the Federal government at higher rates, pocketing the difference.
And now it’s going to get even better to be a bank.
Why?
Because the first part of the Fed’s exit plan will reportedly be to increase the amount of interest the Fed pays on “excess reserves.”
http://tinyurl.com/ygs3o5s
How is this for a risk map?
Very clickable.
http://www.weforum.org/documents/riskbrowser2010/risks/#
Stu,
That might work. I mean, OPEC does it all the time with their imaginary Nigerian pipelines blowing up every other week.
Stu 120 - And don’t forget that new Malaysian place that everyone is raving about - Pahang. That place would be a deal at 11k in taxes!
sean 123 - thats a great interactive - 100 different scenarios in which society and financial markets collapse.
Sure beats twiddling thumbs while waiting for the 2012 eclipse.
I like the comment below from the fluff article.
This is funny to read when you consider that NJ is being hit by record foreclosures. Houses that “have a good proximity to Manhattan” in “affluent” towns like Chatham, Madison, Summit and Harding Township are sitting on the market for YEARS without selling. In fact Harding Township has the longest sell through rate in the nation of over 6 years!
I wish I could sell my house for what i paid in 2006 but the realtors I have talked to tell me to take 30% off the price that I paid. They want me to list it for what I paid but the honest ones have told me if someone lowballs me for 30% off I should jump on it if I really want to sell my house. This as my real estate taxes are over 18K per year.
This is a serious question to those of you who would actually cast a vote for Sarah Palin- does she appeal to you because you consider her to be a populist?
Are there specific stands she has taken on issues that you agree with (and not just a stand of saying “no”). I am at such a loss trying to understand why more than one of my friends whose company I enjoy are willing to see her as president.
To me, she appears ignorant of the complexity of the world, and even of our own country.
Revenge is best served cold….
The Condition-Code Red says:
February 8, 2010 at 11:14 am
Hey ChiFi- Our Califon pals have listed for the 4th or 5th time (I’ve lost count) with yet another agent. Now under 1mm; too bad the dump is worth about 700K.
How long until they’re broke? I have an investor who would probably pay 620K or so, cash.
FROM AUGUST 2007 - IN REACTION TO YOUR COMMENT THAT A $1.459M asking price was likely $375K too high…..
- your opinion went down like castor oil….deprogramming indeed….I am curious as to your response to this…..how do these situations normally play out? Needless to say, I wouldn’t be wasting your professional network’s time with this one. Thanks again.
>
> [edit]
> I am suspect as to the potential damage this kind of communication may have
> with real estate agents in our area if Mr. Hughes takes it upon himself to
> let others know of his impression. For any sales agent to offer a
> perspective on out property, sight unseen, is both irresponsible and
> valueless.
>
> [edit]
> Mr. Hughes is another member of the real estate sales cycle. He is not a
> licensed appraiser. He is a real estate broker. He has a vested interest in
> pushing the sale of any house in the shortest possible time for his own
> interests. He has not visited our house. His claim to “know” out market
> does not come from locating his office in our community. I can also say
> that the number of houses in our community I have seen listed by the Re-Max
> Real Estate company in general can be counted on one hand. The basis of his
> valuation is unknown buts attempts to create a crisis mentality. As you
> know, we are not so easily influenced.
I think it was her vast experience of leadership of two years leading our OPEC-like state of Alaska which has people, um, no I have no clear why people want to vote for her but maybe she doens’t look as hot saying “Drill, baby Drill!!!!” in three years and this is all forgotten.
Mortgage Assoc. owes lenders more than HQ’s worth
So far we can file this only in the Department of Irony, not Hypocrisy. But stand by. The Wall Street Journal is reporting that the Mortgage Bankers Association, the country’s premier mortgage trade group, is selling its headquarters for $41.3 million — way less than the $79 million it paid for the building three years ago. That’s also far less than its mortgage of $75 million, says the Journal, via Reuters.
Will this turn into a short sale? Will the MBA walk away from the difference that it owes a lending group headed by PNC Financial? Will it do what it has urged homeowners not to do? That would be an act of headline hypocrisy for the books. As the Journal’s James R. Hagerty reports, MBA executive John Courson has urged families with underwater mortgages to keep making the payments.
“What about the mess they will send to their family and their kids and their friends?” Courson asked the Journal last year.
Now, says Hagerty: “On Saturday, Mr. Courson declined in an interview to say whether the MBA would pay off the full loan amount. ‘We’re not going to discuss the financing,’ he said.”
Verona to NYC not too bad if you leave your house at 5am, take 80 to GWB, it’ll be 35-40 min. Verona is a pretty decent town, but I agree taxes and maintenance on condos should make them all but impossible to sell.
#128 - This is a serious question to those of you who would actually cast a vote for Sarah Palin
Never underestimate the ‘comedy factor’ vote.
It was a nice place on the inside but $400 a month maintenance for what? A parking lot, there’s no clubhouse, fitness center, pool, tennis courts, nothing. Nothing!!!!!
Sean,
what are “global governance gaps”?
sounds like Al might like this.
Veto, i like the 3 core items in that chart. financial crisis, retrenchment form globalisation, and asset price collapse. Its gonna be a party.
House - SP is absolutely gorgeous.
Please dont be jealous of her hair.
Grim #131 in mod
Mortgage Assoc. owes lenders more than HQ’s worth
emphasis away from mortgage mods and how to get folks out of their homes more efficiently:
http://www.cnbc.com/id/35297731
Grim #131 and #137 in mod
Couric-Palin interview.
Google it, watch it or read it. Then come back here and tell us she has a higher IQ than Forest Gump.
113. Theo, proximity to a synagogue is a big factor in Fairlawn.
Stu,
I think i found SP’s running mate for the next election
http://www.youtube.com/watch?v=lj3iNxZ8Dww
Danzud 133- Part of the maintenance is probably for your share of the “land value” attributable to common areas…just guessing.
And if you live in Verona, don’t take the DeCamp bus to get into the city. Just trust me on that one.
chi (129)-
If you’re still in contact with these losers, tell them I do a lot of short sale work for people in the most prestigious areas. I’d be happy to stop the money hemmorrhage anytime they’d like. In fact, they don’t even have to apologize to me.
Also, let them know I might “let others know of my impression” on my blog (under the category “What Are They Thinking?”). Free expression is a great thing, no?
Agents and (especially) potential buyers should know in advance that these dopes are serially relisting this POS and chasing the market down, unsuccessful as those efforts may be.
Of course, the owners could well decide to just hold this place and exit feetfirst, which would then put the onus of dealing with this losspile on their heirs.
Of all their options, I bet that’s the one they take.
I also always wondered why they chose to buy a house like this on a road in which the prevailing style of house is tarpaper shack.
Bank of America Screws Even Ex-Employees Of 21 Years On Mortgages
“Couric-Palin interview.”
ohhhhh… Stu, that one was difficult to watch. very difficult.
she is pretty though.
and she has very nice nails.
Hickory, dickory, dock…
strumpet: to compound the revenge; they moved out of state to a Tiger Woods branded condo community….
Schump = Dice man. wow who wood thunk!
Apparently Obama not happy with how the climate lies are being deconstructed around the world so he needs to create a new governmental agency with unlimited money to overwhelm those who know it’s a bunch of crap. Don’t get in the way of Obama’s quest for more power and control!!!!!!!
http://www.dailyrecord.com/article/20100208/UPDATES01/100208073/New+US+climate+change+agency+proposed+
chi (147)-
I’d say their new condo has taken a little hit to its value recently.
Is there a tenant in this house of horrors they left behind, or are the bored kids in Califon going over there and shooting out the windows?
“Like millions of American households, the Mortgage Bankers Association found itself stuck with real estate whose market value has plunged far below the amount it owed its lenders,” read a Wall Street Journal article Saturday, a day after the deal closed. “But the trade group for mortgage lenders is refusing to say exactly how it extracted itself from that predicament.” The association has reached “an agreement with all the relevant parties” a spokesperson told the Journal, but declined to say what that agreement was.
It’s natural for any borrower to want to get out from under an underwater mortgage, except that the MBA isn’t just any borrower: It is a massive federal lobbying organization on behalf of mortgage lenders whose CEO, John Courson, said eight weeks ago that homeowners considering walking away from their own loans ought to consider how defaults could hurt surrounding property values. “What about the message they will send to their family and their kids and their friends?” he asked.
Well, Mr. Courson, in selling a new building for 55 cents on the dollar, you have done the same thing for real estate in downtown D.C. Everyone else’s property is now worth less thanks to your sale.
Mortgage Bankers Association Gets Out From Underwater
escape-
Some things are just timeless classics.
So Schump,
When will we reach the bottom of the housing mess?
Apartment living is getting way old but I suppose buying something for a dollar to only watch it become worth .69 over the course of a few years would probably get old too.
chi (147)-
Did that community happen to be Worn Out Skank Estates?
“…moved out of state to a Tiger Woods branded condo community….”
nomad (153)-
Some days, it honest-to-God feels like it’ll be 40 years. That seems to be the consensus historical number for wandering around like idiots.
http://www.nooooooooooooooo.com/
SG 151
“What about the message they will send to their family and their kids and their friends?” he asked.
That is exactly what they should be thinking… that they dont want to teach their children to be debt serfs
OMG stu, i turned the volume down to nothing and it was still loud enough to almost get me fired.
I’ll have to forward to six of my closest friends immediately.
Some light reading:
http://unqualified-reservations.blogspot.com/2010/02/from-mises-to-carlyle-my-sick-journey.html
Well sold unisys at par, citi at par today from bonds I bought in Feb 2009 and I feel ok. Also it is bonus season time!!! Jets/Giants should sell some PSLs this week. 20K psl does not seem so bad when you just made two million!!!!
Veto,
retrenchment of globalization……
Well underway:
Hmmm… Do We Need To Guillotine The WTO?
http://market-ticker.denninger.net/archives/1946-Hmmm…-Do-We-Need-To-Guillotine-The-WTO.html
Shump #155,
40 years. That’s how long my ancestors walked around the desert.
I guess the market for generic SSRI’s is booming.
It’s all fun and games, until somebody puts out an eye.
“If you want to participate in the global carry trade in its purest form, take a look at the Australian dollar/Euro cross. This trade capitalizes on the harsh reality that there couldn’t be two more different economies in the world today.
The Australian economy is virtually drowning in riches. Japanese and Chinese private and state owned enterprises are lining up to buy iron ore, gold, oil, aluminum, meat, copper, wool, wheat and a cornucopia of other bulk commodities. Last year, the home of the kangaroo and the wallabie shipped a staggering AUS$150 billion of coal. Poke a hole in the Northwest Shelf and out spews enough natural gas to light the Middle Kingdom for a year. That explains why the Reserve Bank of Australia was the first and the fastest to raise interest rates coming out of the financial crisis. They’re actually worried about inflation down under.
Conditions couldn’t be more different in Europe. The dire straits of the EC’s weakest members are certain to prolong the European Central Bank’s zero interest rate regime. The gasoline on this bonfire is debt levels that make America look like a paragon of fiscal integrity. Some analysts are predicting that the Euro itself might not even survive the crisis.
How long can a sober, conservative German grandfather be expected to indulge the disgraceful habits of its party animal, thrill seeking, drug addicted grandchildren? I fear not long. That will give the market the juice to take the greenback through to the $1.30’s initially, and eventually to the $1.20’s.
Your long goes up and your short drops like a stone, and everything works like it is supposed to. It is a trade that long in the tooth macro players, like George Soros and Paul Tudor Jones, glory in.”
http://www.zerohedge.com/article/aussieeuro-cross-carry-trade-its-purest-form
nomad (162)-
From where I sit, Knob Creek appears to be the new Pr0zac.
Clifton couple negotiate selling their own home without a broker
Retirees Frank and Dee Caputo have sold two homes without the help of a real estate agent. Now they’re trying again, with their Clifton bi-level.
Though they started out by listing with a Realtor last summer, they decided they could more easily lower their price to attract more buyers if they didn’t have to pay an agent’s commission. In a tough market, they say, that’s an advantage.
“We have room to negotiate,” said Dee Caputo. The house is now on the market for $459,000, down from $479,000 when it was listed with an agent.
The Caputos are among the minority of home sellers who go it alone rather than list with an agent. These “for sale by owner” — or FSBO — sellers usually are motivated by their desire to save the real estate agent’s commission, typically 5 percent to 6 percent. Depending on who’s counting, FSBOs make up 11 percent to 20 percent of the market nationwide.
Ask a Realtor
Q: I am an investor thinking about purchasing real estate in 2010. Do you have any idea what will be happening to prices in Northern New Jersey?
Stan H.
Hillsdale
A: Kudos to you, Stan, because real estate, if purchased well, is the single best investment one can make. Purchasing well means that there is more to real estate than price alone so consider sitting down with a Realtor and going over all your options like property type, market location and timing, risk tolerance, etc. To your question specifically, real estate is cyclical and the causes and characteristics of these cycles vary, with the price of real estate responding accordingly. Right now, with low interest rates, a myriad of government tax credits available and a projected end to the price slide, the opportunity to invest in real estate in Northern New Jersey is peaking. Home affordability is at a record high because of these factors. We expect Northern New Jersey prices to rise moderately in 2010, most likely two to five percent, and then again in 2011. Because of all the factors involved, however, it is not realistic to project where prices will be that far out into the future.
http://www.northjersey.com/realestate/ask_a_realtor/81421707_Home_affordability_is_at_a_record_high_.html
we have numerous foreclosures you can
look at in the Northern Valley,
#165 Yeah from 479k to 459k that will do it.
Let me know when the Caputo’s Capitulate.
My guess is that John is actually a female secretary at a WS firm.
” $400 a month maintenance for what?”
To pay the management people, of course.
Anyone interested? You must bear the indignity of being my guest for 2 hours……these things are hit and miss….some spectacularly good, others ehh
Tuesday, February 23 7-9PM in NYC
Cornell on the Road
presents
Mindless Eating: Why We Eat More Than We Think
with Brian Wansink, Professor of Applied Economics and Management at Cornell University
The average person makes around 250 decisions about food every day - breakfast or no breakfast? Pop-tart or bagel? Part of it or all of it? Kitchen or car? Yet out of these 200+ food decisions, most we cannot really explain. And all those seemingly small choices really add up: Americans of all ethnic, age, and sex groups experienced an average weight gain of nearly 8 pounds in the past decade, with the result that 40% of us are currently overweight. The consequences to our health and well-being, not to mention the bottom line of our health-care system, are profound.
However, all is not lost in the Battle of the Bulge - on February 23, Cornell Professor Brian Wansink will show you what the crucial food decisions are, and how to make them work for you, rather than against you. Following Prof. Wansink’s tips, you will find that making small changes in your kitchen and routine will make a real difference in your waistline with no real sacrifice.
@166 - slightly edited, and slightly more believable:
Q: I am an investor thinking about purchasing a bridge in 2010. Do you have any idea what will be happening to prices in Northern New Jersey?
Stan H.
Hillsdale
A: Kudos to you, Stan, because bridges, if purchased well, are the single best investments one can make. Purchasing well means that there is more to bridge ownership than price alone so consider sitting down with a Bridge Broker and going over all your options like span distance, toll options, traffic flow, etc. To your question specifically, bridge prices are cyclical and the causes and characteristics of these cycles vary, with the price of bridges responding accordingly. Right now, with low interest rates, a myriad of government tax credits available and a projected end to the price slide, the opportunity to invest in bridges in Northern New Jersey is peaking. Bridge affordability is at a record high because of these factors. We expect Northern New Jersey prices to rise moderately in 2010, most likely two to five percent, and then again in 2011. Because of all the factors involved, however, it is not realistic to project where prices will be that far out into the future.
Sue Adler needs your help in naming her own deli sandwich:
http://njexperts.com
She kicks things off with:
“The SueAdler.combo - SueAdler DOT combo - Get it? Please be creative and share your ideas and do NOT be shy.”
Is it safe to declare clot the winner right now?
No way, I would be so busy playing with myself I would get no work done.
My Guess is says:
February 8, 2010 at 3:58 pm
My guess is that John is actually a female secretary at a WS firm.
#166 and a projected end to the price slide,
Who exactly predicted that? I guess I missed the memo.
#173 Qwerty,
She should call it a submarine in honor of all the underwater homeowners in her area.
Chi,
is there a buffet?
“John is so hot right now!” — Jacobim Mugatu
House Whine
I voted for McCain. It was actually Palin on the ticket that made me pull the lever for McCain. To answer your question it was because she was pro-life and seemed like a fiscal conservative based on what was reported she did as Alaska’s governor.
I also did not see how BO had any more qualifications than she did, so I didn’t understand why so many were against her solely on experience.
I guess that makes me stupid according to everyone on this board, but it’s my opinion.
House Whine says:
February 8, 2010 at 1:43 pm
This is a serious question to those of you who would actually cast a vote for Sarah Palin- does she appeal to you because you consider her to be a populist?
Are there specific stands she has taken on issues that you agree with (and not just a stand of saying “no”). I am at such a loss trying to understand why more than one of my friends whose company I enjoy are willing to see her as president.
To me, she appears ignorant of the complexity of the world, and even of our own country.
http://www.cnbc.com/id/35204156/
With no offense intended to Lisoosh, my Italian ancestors stand head and shoulders above my Scottish ancestors when it comes to food.
I’m gonna be the cranky old bastard here (at 43) but lemme say that the fact that these idiot have the floor speaks more for our native intelligence than anything else. We are circling the drain folks, Just relax and enjoy the ride.
I voted for McCain. A crip and a wacko is better than a muslim tax the rich operative
“Just relax and enjoy the ride.”
Sort of like, “lie back and think of England.” Perhaps, in this case, it is more like bend over….
Smoke em if you got em!
It’s 5 o’clock somewhere!
Folks I spent my whole life around politics and always tried my best to ignore them. Better yet, just be freakin’ happy with the great lives most of us have in the last days of the great empire.
” also did not see how BO had any more qualifications than she did”
He did not have close to the qualifications she had. How sad is that? Sara Palin, for all her many, many, many faults had superior executive experience to the guy who won.
chi (172)-
Thanks, but basically I know why I continually jam food into my pie hole. I am tense, agitated and unfulfilled.
qwerty (174)-
Give me fifty bucks, and I’ll suggest Sue sandwiched between two mandingos.
Montclair-style, natch.
Sue on a Skewer?
[90] shore
You are quoting Jeb Bartlet, the fictional US president, in an episode of West Wing where he made a “slip” into an open mike, but was actually a calculated step to attract the NASCAR crowd.
Nom! How’s the skiing?
BTW, John Murtha dead today at 77, sucumbed to an infection resulting from gall bladder surgery. What are the odds its a put on so he can pass the goods to his son without estate tax (not to mention before they are confiscated after his inevitable, now moot, indictments played out)?
Then again, perhaps the Sue Adler should just be a good, old-fashioned shit sandwich.
“Considering the ever increasing income gap since 1980, I’m pretty certain we are permanently screwed”
Meh. You’re correct only if the aggregate amount of income is static.
The income gap isn’t bothersome as long as all the incomes on a real (inflation adjusted) basis are moving up, with the exception of those that don’t actually earn anything other than government transfer payments. Those incomes ought to be flat (inflation adjusted).
Picture as many lines on a graph as you want. If all of them with the exception of the bottom one are sloping upward it doesn’t really matter whether one slope is steeper than the other.
I would expect the top line (the highest income earners) to nearly always have a steeper slope anyway.
I’m actually trying to conceive a real world scenario in which all the lines are sloping upward but the bottom ones have a steeper slope than the top income earners. It basically implies a growing economy but one where lower level employee earnings growth is outpacing skilled labor and owners’ earnings growth.
Absent forced expropriation (otherwise known as redistributive tax policies) when would this be the case? You would need a massive shortage of un- or less-skilled labor in a growing economy; not likely to occur to such a degree to radically change the slope of their line relative to other lines.
The biggest threat to stability - the Argentina comment above - comes not from free market income disparities but from an insatiable government that taxes everyone down into the bottom line.
knuckle headcheese and pork combo
She could call it
“Sue me”
Or, 195 stated differently, the fact that:
Sergei Brin made $1.5bn shouldn’t upset
Warren Buffet, who made $1.0bn, which shouldn’t upset
Howard Stern, who made $500m, which shouldn’t upset
A-Rod, who made $25m, which shouldn’t upset
Some banker, who made $2m, which shouldn’t upset
A small company CEO, who made $750k, which shouldn’t upset
A small business owner, who made $500k, which shouldn’t upset
A senior manager, who made $250k, which shouldn’t upset
A new law school grad, who made $125k, who shouldn’t upset
The firefighter, who made $75k
……until…..their individual incomes stop growing or government tax policies result in a shrinking after tax compensation.
I think Steve Phillips should get to create Sue’s sandwich.
HA HA KIELBASA BRAIN!
grim says:
February 8, 2010 at 4:51 pm
Chi,
is there a buffet?
BTW - Cindy…thank you for the Albania love yesterday…..
The end is nigh…..
http://www.nailsinvestments.com/
#202
Can’t take the competition? :P
http://www.businessinsider.com/see-the-15-million-home-that-lenny-dykstra-trashed-and-abandoned-its-back-on-the-market-2010-2
Chicago @ 201 - My pleasure…
@202 Is this the guy?
chi (200)-
I thought Steve Phillips was Kielbasa Brain.
In case any of us are in a forgiving mood, remember one of Phillips’ brighter moves…resulting in this:
Beginning in 2011, the Mets will pay Bobby Bonilla $1.19 million in deferred money every July 1 until 2035.
If that doesn’t land you in rehab, nothing should.
@198,
You completely ignore domestic inflation in your rose-colored scenario, not to mention the growing salaries of those in other nations, all of whom will be competing for goods, driving prices up. That 75k firefighter salary with a 2% rise per year doesn’t look so good when he’s competing against an army of overseas workers whose salaries are equal and/or rising at a greater clip.
Try again.
Somehow he has transitioned from nails to balls…..
chicagofinance says:
February 8, 2010 at 6:27 pm
The end is nigh…..
http://www.nailsinvestments.com/
Meter,
Sorry, I thought I said in 195 inflation adjusted.
Point is, so long as one’s living standard is not diminishing and in fact rising, who cares how the next quartile (quintile, decile) is performing.
Realistically, the goods the banker is bidding up is not affecting the the fireman - different markets.
And while I did well for myself, the fact that Ellison was bidding the daylights out of high end yachts didn’t affect what I paid for milk, or my Carribean vacations.
Strip inflation out, and maintain real growth in income, and what is left to cause declining living standards at any income level?
The government.
The firefighter isn’t feeling poorer because of Brin or some Indian engineer at a drafting table or some Aussie reading MRIs at midnight on his PC.
Grow the pie, and stop the government from taking ever increasing chunks of that increasing income, and it doesn’t matter. Everyone is better off than they used were.
gary, oh gary, where are you. Make this crap shsck your today. Blue ribbon and train at the end of the block. Bergen and blue ribbon too!! And all for under 400k!! Hurry before the tax credit expires!!!!!
http://www.njmls.com/listings/index.cfm?action=dsp.info&mlsnum=1005380&countysearch=false
I like this Thain guy. He gets things done. Has excellent taste in commodes too.
http://money.cnn.com/2010/02/08/news/companies/thain_cit.fortune/index.htm
Hi all - my wife and I just pulled the trigger on a place in Bucks Couty PA and I have a question about the first-time home buyer tax credit and our somewhat unique situation:
We’re married, we meet all of the eligibility requirements (first home, below the max income limit, etc) but we have been offered assistance from the Bank of Mom. *HOWEVER* we are not receiving this money free and clear or in the form of a loan. Rather, mom will be listed on the title along with my wife and me as mom will be contributing to our down payment via an equity stake in the house. She will therefore participate in any upside or downside when we eventually sell the place (7, 10, 15 years?) unless we choose to buy her out beforehand.
It’s obviously very generous and we’re appreciative to have her support, but we’re now wondering if that will make us ineligible for the tax credit? I’ve found some references on the official gov’t site to a SINGLE person who has mom and dad cosign on a loan (even though mom and dad are ineligible) and the individual is entitled to receive the full credit. However, I see nothing about our situation where my wife and I are eligible and mom is not, but will still be on the title (and is obviously not going to claim the credit).
I’m thinking we’re just going to need to ask a tax attorney about this one but wondered if any of you smart people of that ilk would care to chime in?
thanks very much in advance,
Cirrus
PS - thanks to this site, we watched on the sidelines in 2006,7,8 and 9. We waited until we were ready and we’re comfortable with our price, location, and committment while cognizant that the market may have yet to go lower, this is the opportune time for us given our reality and situation.
its funny because its true.
http://unhappyhipsters.com/
leftwing [195]
I’m actually trying to conceive a real world scenario in which all the lines are sloping upward but the bottom ones have a steeper slope than the top income earners. It basically implies a growing economy but one where lower level employee earnings growth is outpacing skilled labor and owners’ earnings growth.
USA from 1946 till about 1975.
cirrus (212)-
Don’t know about the tax credit thing. However, I’d strongly suggest not getting your mom anywhere near your purchase of residential RE.
Take it from both my professional and personal experience: it will not end well.
cirrus (212)-
You are also exposing your mom to infinite potential downside for as far out as you can imagine.
As an investment, this one is potentially zero upside, 100% loss on the down.
#161 John,
Since money is no object, I propose you start a new campaign - PSLS for DSLS.
http://www.physorg.com/news184310039.html
Spray-on liquid glass.
@210 leftwing:
“Point is, so long as one’s living standard is not diminishing and in fact rising, who cares how the next quartile (quintile, decile) is performing.”
Please make your case that the middle class has a better living standard than it did 10/20/30 years ago.
I will give you creature comforts - microwaves, larger houses, designer kitchens. However, factor in two working parents, later retirements, the cost of child care, no pensions (for most of us anyway), the potentially debilitating cost of healthcare and so on.
You would be hard-pressed to make me believe that the average Joe is better off, even with that 75k salary and a wife making half that.
And, as I said, the cost of ‘important’ goods and services - I’m not talking granite countertops here but rather food, fuel, etc. - is going to be rising, and probably sharply, in years to come as more workers overseas come closer in parity with American salaries. All the while American salaries will continue to stagnate or at best match pace with normal inflation.
Shore [218]
An article is fairly hypey - also, I’d be careful about usefulness of the material (except WD-40…) which is used on hamburgers and Ataturk’s mausoleum at the same time. On a serious side, nanoparticles frequently are a major health hazard - and I haven’t seen anything about the safety studies in the physorg.com piece.
I am not a huge fan, but if anyone thinks that Lady Gaga is a hack, here is where she skoolz the auto-tune bichez….seriously….you don’t have to like it, but it has cojones…
http://www.youtube.com/watch?v=7CUYvWTd6oA
#95 danzud
I am not plg, but I have to ask the question.
“Bush at least lowered tax rates to give more dollars back to the people”
The cost of the tax cuts is 1.8 trillion. Who picks up that check?
The promotion of Sarah Palin is just another sign of the dumbing down of the American people.
We are f#cked. Its over. If we stay we risk getting irradiated by a false flag attack on one of our cities. There is no where to run to.
Its a battle between the military industrial complex hell bent on starting WW3 and a bunch of Communist subversives trying to turn us into a 3rd world country.
WASHINGTON – Today, President Barack Obama announced his intent to appoint the following individuals to the Council of Governors. The Council, created January 11 of this year by Executive Order, will work closely with the Secretary of Defense, the Secretary of Homeland Security, and other defense and national security advisors to exchange views, information and advice on matters of mutual interest pertaining to the National Guard, homeland defense, synchronization and integration of State and Federal military activities in the United States, and civil support activities.
“President Obama said, “I am pleased that these Governors of exceptional experience have agreed to join the Council of Governors. This bipartisan team strengthens the partnership between our State Governments and the Federal Government when it comes to ensuring our national preparedness and homeland defense. I look forward to working with them in the years ahead.”
http://www.whitehouse.gov/the-press-office/president-obama-announces-more-key-administration-posts-2410-0
Setting up for the black flag operation?
There is hope for North Jersey real estate prices.
First,
““Land …cannot be treated as an ordinary asset, controlled by individuals and subject to the pressures and inefficiencies of the market. Private land ownership is also a principle instrument of accumulation and concentration of wealth, therefore, contributes to social injustice.”
1976 UN’s Habitat I conference
Second,
In the rural areas it’s called the Wildlands Project.
In the cities it’s called Smart Growth.
In business it’s called Public/Private Partnerships.
In government it’s called Stakeholder Councils and Non-elected Boards and Regional Government.
Third,
It comes in many names and many programs. Heritage areas, land management, wolf and bear reintroduction, rails to trails, conservation easements, open space, and many more.
Each of these programs is designed to make it just a little harder to live on the land – a little more expensive – a little more hopeless.
After they herd people into the cities:
There is a restriction on space inside the controlled city limits there is a shortage of houses, so prices go up. That means populations will have to be controlled, because now there is a shortage of land.
UN Agenda 21. New Jersey is well suited geographically. Most of NJ except the Pine Barrens are in a Co-op zone. Consider this when purchasing your nompounds.
al (230)-
Things are far too along for any real freedom to be reclaimed without a major uprising against the gubmint.
Too bad nobody seems to mind the constant, creeping impingement on our liberty.