Standard & Poors and Fiserv see additional home price declines on the horizon

From HousingWire:

S&P predicts more home price declines through 2011

Standard & Poor’s analysts believe home prices will drop between 7% and 10% through 2011, erasing any improvements prices have recently made.

Home sales, which plummeted after the homebuyer tax credit expired in April have continued to lag. Pending home sales, which preclude existing home sale data, dipped 1.8% in September before the market goes into a winter many expect to be bleaker than usual. With this lack of demand, inventories should grow, according to S&P, while prices drop.

“Low mortgage rates will likely continue to encourage refinancing, but their influence on home buying activities has been limited due to the weak housing market and a lack of demand,” S&P credit analyst Erkan Erturk said.

Fiserv expects another big drop in home prices next year

Despite national gains in home prices through the second quarter, Fiserv, a financial services technology provider, said it expects a 7.1% drop over the next 12 months with some markets falling into a double-dip.

Without the homebuyer tax credit that expired in April, home sales have plummeted, and Fiserv expects prices to follow before stabilizing again at the end of 2011.

Fiserv Chief Economist David Stiff said the largest declines will come in those markets that had strong spring and summer price gains.

“This is because the home buyer tax credit delayed the correction in home prices that is necessary to return housing affordability to its pre-bubble levels,” Stiff said.

But by the end of next year, Stiff said prices should hit bottom.

“If there are no downside surprises for the economy or the housing and mortgage markets, home prices should start to stabilize at the end of 2011,” Stiff said.

This entry was posted in Economics, Housing Bubble, National Real Estate. Bookmark the permalink.

200 Responses to Standard & Poors and Fiserv see additional home price declines on the horizon

  1. Fabius Maximus says:

    Friskies

  2. Schrodinger's Cat says:

    eater

  3. grim says:

    From the Record:

    Charlie Brown’s restaurants in Tenafly, Clifton and Montclair to close

    Charlie Brown’s Steakhouses in Clifton, Tenafly and Montclair have closed, along with 17 others, owner CB Holding Corp. said Monday.

  4. Schrodinger's Cat says:

    hey dont look now but the 10yr & 5 yr are spiking up, while muni’s are suddenly slammed. I would imagine that bergabe and friends are sweating a little tonight. These are ominous signs for bergabe,s little game plan.

  5. Yikes says:

    Lamar Asperger says:
    November 13, 2010 at 7:32 pm

    safe (181)-

    I just hope she gets hit by a bus.

    “She retired on the first day she was eligible. I hope she miscalculated her time in the system and is a day short and gets nothing.”

    Clot, you rule

  6. Schrodinger's Cat says:

    I had to drop a vendor off at a hotel today. He got stuck in a real piece of crap hotel. The scary thing was the number of families apparently living there. I think most of us are doing just fine relative to to those below the “median”. Its a good thing to have life put back into perspective sometimes.

    When i got home there was a National Geographic show on about the collapse of the easter island civilization and how families resorted to living in caves for defense as TSHTF. Apropos i suppose.

  7. Schrodinger's Cat says:

    On a similar note, I got to see a friends new digs yesterday. 1.5 million 6,000 sqft pad in Chester. Its beautiful and looks very well built and maintained (not new). Its him his wife and their 2 kids. 6000 sqft for 4 people is ridiculous.

    Even if i had the money for the house i just cant see why i would need more then 1000 sqft per family member. to each their own i suppose.

  8. Al Gore says:

    4.

    Cat,

    This is starting to look real ugly. 4 more days of POMO this week. 30 year repricing to 4.375. Buy silver for delivery. Crash JP Morgan.

  9. Mike says:

    Shrod No. 7 Your friends have arrived

  10. Schrodinger's Cat says:

    Mike 9

    To each there own. If i was in their shoes i would make different choices. Though i wish them nothing but the best.

  11. Schrodinger's Cat says:

    CLot,

    Fun new sport!!!

    A Russian Banker And His 7-Man Team Beat Up A Dutch Energy Executive

    In a case of actual banker-bashing, a Russian banker and men believed to be his bodyguards attacked a Dutch Gazprom executive as he was driving through Moscow on Sunday night, the Moscow Times reports.

    According to the report, Jorrit Ioole Faassen (of Gazprom, an energy company), was driving his BMW near a entertainment hub called the Europark center when he was cut off by a Mercedes and a Volkswagen.

    Then, eight men brandishing baseball bats got out of the two cars and smashed the BMW’s windows. They also battered Fassen, and then fled – but not before Fassen memorized the number plates on their cars.

    The group of men included the co-owner of a small commercial bank called Trado-Bank, Matvei Urin. The police arrested them soon after the attack. Matvei Urin, previously the head of another Russian bank, has been involved in shady dealings before. As a result, his license has been revoked.

    Read more: http://www.businessinsider.com/matvei-urin-jorrit-loole-faassen-gazprom-trado-bank-russian-dutch-beat-up#ixzz15PN5NnKT

  12. Schrodinger's Cat says:

    Has this been posted yet?

    Teachers Gone Wild (NJ)
    http://www.youtube.com/watch?v=WdqQTIQhn5A&feature=player_embedded#!

  13. Yikes says:

    Cat – is that real?

  14. chicagofinance says:

    This post is the most profane thing I’ve ever seen from slackoid…..

    grim says:
    November 15, 2010 at 5:40 pm
    Relisting doesn’t really require ass-seat detachment, which is why it’s probably the best approach to entice offers on a stagnant listing.

    Well that and obsessive/compulsive alteration of the listing information. Description changes every 3 days, updates to agent remarks every other day.

    I suppose if you can’t convince a seller to reprice an overpriced listing, what else can you do?

    So you keep polishing that turd.

    Oh well, at least the sign out in front of the house firmly establishes your market position as measured in “lawn share”.

  15. Happy Camper says:

    #3

    Saturday nite was not able to find a table. 3 restaurants in 3 different towns were fully booked around 8 pm.

    I was at a C Brown’s at couple of yrs ago and it was horrible. Will not miss them.

    HC

  16. Confused In NJ says:

    3.grim says:
    November 15, 2010 at 7:22 pm
    From the Record:

    Charlie Brown’s restaurants in Tenafly, Clifton and Montclair to close

    Charlie Brown’s Steakhouses in Clifton, Tenafly and Montclair have closed, along with 17 others, owner CB Holding Corp. said Monday

    Bummer, I had reservations for Thanksgiving and now they are closed. First time in 45 years. Guess we can’t get out of cooking.

  17. Shore Guy says:

    Coming up for air for a moment. This is un-fcuking-believable:

    http://www.msnbc.msn.com/id/40201035/ns/us_news-life

    Calif. court upholds in-state tuition for illegal immigrants
    Justices say law is constitutional because U.S. residents also have access to the reduced rates

    SAN FRANCISCO — The California Supreme Court weighed in Monday on the politically charged immigration fray when it ruled that illegal immigrants are entitled to the same tuition breaks offered to in-state high school students to attend public colleges and universities.

    While the ruling applies only to California, the case was closely watched nationally because nine other states, including New York and Texas, have similar laws.

    snip

  18. Shore Guy says:

    So, let me get this straight. Someone wo has broken into this country, and who breaks the law every day they are here, gets benefits that a legal resident or citizen from another state cannot get?

  19. still_looking says:

    shore, 18

    yep

    sl

  20. Shore Guy says:

    Next time I get searched at the airport, I think I am going to start moaning like in When Harry Met Sally. Heck, if TSA guards are grabbing one’s b@lls and associated anatomy they should expect it.

    http://www.latimes.com/news/local/la-me-oceanside-scan-20101116,0,4150606.story

  21. Shore Guy says:

    sl,

    It seems that we have lost all sense of perspective.

  22. Al Gore says:

    Touch my junk and Ill have you arrested.

    The real terrorist is the average American. Underwear bomber was a plant.

  23. cobbler says:

    shore [18]
    May be a good approach for someone already in CA on a student visa: instead of paying the full fare let the visa lapse and continue as an illegal paying only in-state tuition?

  24. Nomad says:

    See what is happening in our airports with pat downs and screenings. Guess what, the terrorists are winning.

    What are your thoughts on profiling?

  25. Schrodinger's Cat says:

    Nomad, Shore

    Easy solution. Drop the security theater and issue every adult on a flight a Tanto that has a safety seal on the sheath. If you open the blade and there is no emergency then you get fined

    http://www.coldsteel.com/kobun.html

    That combined with a nice metal detector will probably provide more security then the current joke

  26. Schrodinger's Cat says:

    Shore,

    Re CAli & all;

    Its way to late for this little empire. As Clot says, embrace the chaos, a total reset is our best hope at this point.

  27. grim says:

    From the Philly Inquirer:

    Phila. area housing showed smaller price drops than S. Jersey since 2007

    Viewed in its entirety, real estate in the Philadelphia region appears to have held its own since the housing-market downturn began in 2007.

    But when broken into smaller metropolitan areas, as Fiserv Case-Shiller’s second-quarter analysis of home prices has done, the picture is much different.

    The city and the four surrounding Pennsylvania counties have indeed fared well, with median prices falling just 6.6 percent since their 2007 peak. (Median is the middle number; half the houses sold for more, half for less.)

    Camden, Burlington, and Gloucester Counties haven’t done as well, however, with a 16.4 percent median-price drop.

    Atlantic City/Atlantic County and Ocean City/Cape May County have fared even worse, with declines of 25.3 percent and 20.8 percent.

    For all four statistical regions, Fiserv Case-Shiller forecasts further price declines over the next two years: 3.6 percent for the Philadelphia area; 5.6 percent for the three South Jersey counties; 19.5 percent for Atlantic City and environs, and 21.5 percent for Ocean City/Cape May County.

  28. grim says:

    From the Jersey Journal:

    West New York says half-built house, in foreclosure and owned by Bank of America, is a horror for neighbors, drawing mice, opossums and squatters

    A half-built house on a quiet town street is drawing the ire of at least one frustrated neighbor.

    Construction of the wood-framed house at 604 54th St. began in 2007 – and came to a stop in 2008, according to neighbor George Moreno.

    Moreno, who purchased the house next door seven years ago, wants the wood-framed building torn down.

    “It’s all rotted out. It’s a real hazard,” Moreno said, adding that his backyard is now attracting mice, opossums and raccoons because of the abandoned construction.

    Furthermore, Moreno said, the vacant property is attracting squatters.

    Outside of dispersing the group and keeping an eye on the area, there’s not much police can do, Police Director Al Bringa, said.

    The vacant building is owned by the Bank of America, town officials said.

    The town was notified by the bank in June 2009 that the house had gone into foreclosure, said Construction Official Tom O’Malley.

    O’Malley said his office sent a letter to Bank of America’s San Bernardino, Calif., office asking the bank to board up the doors and windows of the property before issuing a fine for negligence.

    “These people sitting in California have no idea what the property looks like,” O’Malley said.

  29. grim says:

    From the NY Times:

    Foreclosures Raise New Concerns About Banks, Panel Says

    The foreclosure documentation crisis could have severe consequences for the housing market and economy, a Congressional panel warns in a report scheduled to be released Tuesday.

    In the worst case, the banks will choke on the volume of bad loans they could be forced to reabsorb, leading to another financial crisis, the panel said. But the panel, which was set up after the financial crisis two years ago, also allowed for the possibility that concerns over paperwork irregularities will prove overblown and the crisis will recede.

    “Despite assurances by banks and Treasury to the contrary, great uncertainty remains as to whether the stability of banks and the housing market might be at risk,” the report by the Congressional Oversight Panel said. It recommended giving banks new stress tests.

    Against this backdrop of stark uncertainty, the Senate Banking Committee is holding a hearing Tuesday that will include testimony from Bank of America and JPMorgan Chase, two of the banks at the center of the turmoil.

  30. grim says:

    From CBS News:

    NJ Family Rendered ‘Squatters In Their Own Home’

    The FBI is investigating a possible scheme in New Jersey involving a company that claimed to have helped families in foreclosure, but may have been preying on them instead.

    Nancy Canfield and her family were in trouble on their mortgage and were moving quickly toward foreclosure. The Canfields were then surprised by an offer from a company named JP Global that seemed too good to refuse.

    “They [had] somebody that would buy our house and lease it to us for two years and then we could buy it back after we got ourselves back on track,” Nancy Canfield told CBS 2′s Alexis Christoforous.

    The family was a bit concerned during the closing. The Canfields said the office in which the transaction took place looked temporary — there were no phones and the agents seemed nervous.

    “I felt like a pit in my stomach, like I had just been had,” Canfield said.

    Still, the Canfields remained in the house and started paying rent at a rate of $2,300 a month until certified letters started arriving from the bank.

    The letters revealed the new owner had taken a second mortgage on the house and then disappeared. The loan went into default and the home where the couple raised their daughter went back into foreclosure.

  31. grim says:

    From National Mortgage Professional:

    Sub-Prime Specialist C-Bass Files for Chapter 11

    Credit-Based Asset Servicing and Securitization LLC (C-Bass) and seven of its affiliate companies have announced that they have filed for Chapter 11 protection with the U.S. bankruptcy court in Manhattan. It has been reported that C-Bass has between $10 million and $50 million of assets, and more than $1 billion of liabilities.

    Founded in 1996, C-Bass was an early leader in the securitization of mortgages issued to borrowers with sub-prime credit and has served as a servicer. C-Bass has been liquidating its holdings and giving proceeds to lenders and investors.

    In a Reuters report, C-Bass Treasurer Andrew Rickert said the company believed at the time it would have “substantial equity” in its collateral to ensure survival, but said “it became clear” that no such equity existed” once the U.S. mortgage crisis “deepened by an order of magnitude that no one could have predicted.” Rickert claims the company still owes $170 million under a senior credit facility, “well in excess” of the value of the remaining collateral.

    (Didn’t they all)

  32. cat (11)-

    If Russia weren’t so goddamned cold, I’d have already moved there. Those people know how to get things done. They really live anarchy in high style.

  33. Dissident HEHEHE says:

    I had a date recently with an NJ public school teacher. She said that convention is just one big drunkfest and half the teachers are there to cheat on their spouses…but you know it’s for the kids:)

  34. borat obama says:

    Firrstt

  35. Schrodinger's Cat says:

    Lamar,

    At least in russia you everyone knows you have to pay to play.

    Re California

    If California were a independent nation you would be looking at an almost guaranteed revolution with such a relatively significant portion of the population identifying with an external culture. Being that they are a state It will probably be a slow painful death unless the Fed’s are unable to paper over their funding issues, then you end up with a sudden kaboom.

  36. Mr Wantanapolous says:

    Cat [35],

    Ca is Greece, Ireland, Portugal and Spain combined. They will be bailed out.

  37. Mr Wantanapolous says:

    Cat,

    If the below goes smoothly, you have your answer.

    http://www.buycaliforniabonds.com/bcb/offering.asp

  38. Schrodinger's Cat says:

    Looks like its time o get more popcorn!!!

    The number of deals the RMBS Investor Clearing House now has a big enough interest in to request action by bond trustees has climbed about 30 percent since a July statement by Franklin. The clearing house allows bondholders to coordinate without divulging to each other which securities they own.

    The group added three new portfolios Nov. 12 that weren¡¯t included in the most recent total, Franklin said in an e-mail from Dallas that day. A quarter of bond investors in any single deal marks the minimum threshold to force mortgage-bond trustees to grant access to loan files that may help investors prove mortgage sellers should buy back bad debt or take other action.

    http://noir.bloomberg.com/apps/news?pid=newsarchive&sid=aQ7DMuAVoSuM

  39. Schrodinger's Cat says:

    If those loans files are empty or improperly conveyed things should heat up quickly as its a short walk to the banks behind the MBS promptly being seen as insolvent when they have to by back the MBS at face value. of course we would never see any charges for fraud. Its note like the banks are help to the same laws as us little people.

  40. Schrodinger's Cat says:

    If those loans files are empty or improperly conveyed things should heat up quickly as its a short walk to the banks behind the MBS promptly being seen as insolvent when they have to buy back the MBS at face value. Of course we would never see any charges for fraud. It’s note like the banks are help to the same laws as us little people.

  41. Schrodinger's Cat says:

    Hey look at Ireland!

    “there are absolutely no discussions regarding a bailout.”I

    We have to discuss these matters with partners as to how best to underpin financial and banking stability within the euro area,” Cowen told state broadcaster RTE in an interview late yesterday

    Gee that sounds familiar. Wasnt Lehman well capitalized?

  42. Confused In NJ says:

    The CEO Thievery didn’t help Charlie Brown’s;

    In addition to the 13 shuttered New Jersey locations, the company plans to close two Charlie Brown’s Steakhouse restaurants New York and five in Pennsylvania.
    Earlier this year, CB Holding Corp. filed a lawsuit seeking punitive damages against a former chief executive of Charlie Brown’s, Russell D’Anton, as well as J. David Slabon, owner of Designline Construction Services Inc., an Eatontown contractor, for an alleged kickback scheme which the parent company said cost the restaurant chain millions. D’Anton, a Manasquan resident, pleaded guilty in February to conspiracy to commit mail fraud and tax evasion. Slabon, a Wall resident, pleaded guilty in July to conspiracy to commit bribery and wire fraud. They have yet to be sentenced.
    Covey said he could not comment on whether those actions had anything to do with the closing of multiple restaurants Monday.

  43. The wheels are coming off everything all at once. Perhaps by next Xmas, we will get Bergabe hanging upside-down in the public square, a la Mussolini.

  44. Regrepsa Ramal says:

    Hey Lamar this one is for you

    New Private Sale Site Targets Wine

    http://www.lot18.com/signin/ref:Lw==

    Quick Pitch: Lot18 is a membership-by-invitation website for wine and epicurean products from coveted producers at attractive discounts.

    Genius Idea: Online private sales are big business these days. It all began with fashion sites, like Gilt Groupe, Rue La La and ideeli, quickly followed by sites that specialized in home products, like One King’s Lane, SnappyTuna and Bulx. You can find even more specialized private sale sites for travel, restaurants, and now, with the introduction of Lot18, wine.

    For wine enthusiasts, this is an obvious win, as Lot18 members have access to fine wines (and eventually, specialty foods) made in small quantities and sold at great prices.

  45. Shore Guy says:

    She said, Joe, I gotta go
    We had it once
    We aint got it no more

  46. As for me, I’m geeked up for a bit of the old ultra-violence.

    http://www.youtube.com/watch?v=v90KPJ6n4Ew&feature=related

  47. regression (44)-

    Can’t buy wine from vendors shipping from outside NJ on the internet.

  48. Shore Guy says:

    Miice, opossums, and squatters. Oh, my!

    The other day I was driving in a nice town and saw three houses for sale on the same block. Two of them were for sale by owner. A short distance away, I saw an agent’s for sale lawn sign that had an extra little sign above that said “Agent needs sale.” This morning ths sign now also has an additional sign, hanging from below, which says “Priced 2 sell”.

  49. Regrepsa Ramal says:

    Free Johnnie Walker Scotch Custom Labels

    http://www.johnniewalker.com/en-us/marktheoccasion/

  50. Regrepsa Ramal says:

    Drink, Go Blonde, and 5 Other Ways to Make More Money

    http://moneywatch.bnet.com/career-advice/article/make-more-money-get-a-makeover/448446/?tag=fd-bundle-0;bundle-feature-0

    Debrahlee Lorenzana, the “too hot” banker, apparently was not familiar with the old adage about too much of a good thing, and her plastic-surgery enhanced good looks cost her a job at Citigroup. But for the rest of us, the right nips and tucks just might translate into promotions and better pay.

  51. Still_Renting says:

    Quick question, when a seller puts their house on the market, when should they file there application for a CCO inspection and have an inspection done, when there is an offer on the table or before?

  52. sr (51)-

    Usually after the contract becomes binding.

  53. Schrodinger's Cat says:

    Shore,

    RE security theatre:
    Would a terrorist cause more damage by bringing down a plane or setting off an explosive device while in a crowded line in front of security screening? Which causes more economic damage. The security line would seem to be a much juicier target. You shut down entire airports as opposed to individual planes. How do you stop it? have a security screen before the security screen?

    The current security theater would only challenge a terrorist with an IQ under 70. Besides dont worry about that trash bin full of “explosive” liquids sitting next to the security line. LOL

  54. Still_Renting says:

    LA(52)
    Thank you

  55. Schrodinger's Cat says:

    So what is the “Or Else?

    Monday 15 November 2010 17.59 GMT
    An increasingly isolated Irish government was coming under mounting pressure tonight to seek a European or International Monetary Fund bailout within 24 hours amid fears that contagion from its crippled banking sector might spread through the weaker eurozone countries.

    Perhaps we find out tomorrow morning?

  56. safe as houses says:

    I want to see sale signs like “New Price, Same Old POS!!!” and “Priced Reduced, Rates and Taxes Up!!!!”

  57. Schrodinger's Cat says:

    Interesting

    Did Ireland Discover A Legal Loophole That Will Prevent It From Needing A Bailout?

    Read more: http://www.businessinsider.com/did-ireland-discover-a-legal-loophole-that-will-prevent-it-from-needing-a-bailout-2010-11#ixzz15SUseiAp

  58. Schrodinger's Cat says:

    Safe 57

    If your bored one evening you could go around and throw up some guerrilla signage on top of the standard For Sale signs and make them much more honest/interesting

  59. jamil says:

    This you won’t find in State Media in lame-duck congresscritter ramblings..

    “Nearly 90 percent of home owners have stayed current on their mortgages throughout the housing meltdown. Yet, in what should be his final act as chairman of the Senate Banking Committee, Chris Dodd is holding hearings today about how the 10 percent of homeowners who are either seriously delinquent or in default on their loans are being screwed by the banking system.

    The hearing, of course, won’t dwell on the mistakes of the vast majority of alleged victims of this scandal — namely, how they rolled the dice on the housing bubble, taking out loans they knew they couldn’t afford.

    Its title — “Problems in Mortgage Servicing From Modification to Foreclosure” — tells you all you need to know about the goal: to stoke anger at the big banks by portraying all those who’ve been forced from their homes in the last two years as innocent victims, seduced into taking out unaffordable loans and now victimized by the same banks and their teams of “robo-signers,” who denied them “due process” by rubber-stamping foreclosure documents without proper review.

    Dodd, of course, should have a special insight into the seamy side of the housing bubble and its ultimate meltdown. He got VIP treatment from one of the bubble’s biggest instigators — former Countrywide CEO Angelo Mozilo, whose business model centered on lending money to subprime borrowers. When it wasn’t handing out subprime loans to risky borrowers (loans that were then guaranteed or bought by Fannie Mae and Freddie Mac, thus contributing to their demise), it was helping “influentials” like Dodd gain access to low-cost loans through its “Friends of Angelo” program.

    Don’t expect to hear much today about Friends of Angelo, or whether Fannie Mae and Freddie Mac stoked the housing bubble by enabling Countrywide to lend to anyone with a heartbeat.

    http://www.nypost.com/p/news/opinion/opedcolumnists/show_us_the_victims

  60. Shore Guy says:

    “The security line would seem to be a much juicier target. ”

    I have had conversations with DHS and White House officials over the years and here is the bottom line. There are many, many, many ways for terrorists to kill far more people than die in a jumbo jet crash. Nevertheless, aviation is the plumb target. Why? A truck bomb, suicide vest bomb, or even a group of miscreants armed with AK-47s shooting up a shopping mall, a school, an office building, an airport, etc. is, essentially a local event. We need to go to school, to work, shopping, etc., so, although we may feel jitters, we are able to say “that was there, not herem” or “okay, it happened here, but it will not happen here again, and if it does, it will not happen to me.”

    Aviation, even regional flights, is, as an industry, international. Terrorist aations against aviation anywhere sends shock waves through the system. And, as most of us do not HAVE to fly, we can allow even remote threats to disrupt our flying patterns. As so much commerce depends on putting bottoms into airplane seats, anything that reduces the public’s willingness to fly is a dangerous economic attack on the US. The real economic faallout from 9-11 was not the los of lives or the buildings, it was the fallout from shutting down the National Airspace and the reluctance of people to resume flying.

    The problem is, TSA’s screenings are getting to the point of the old water test for witchcraft.

  61. safe as houses says:

    #59 Cat,

    I do that mentally when I drive around. my wife wonders why I burst out laughing when I see a POS on a busy road with Reduced Price! or Back on the Market! sign on top of the for sale sign.

  62. Shore Guy says:

    please excuse the thumb keyboard typos

  63. Schrodinger's Cat says:

    Shore 61

    Not to get myself in too deep here, but i can image a few potential scenarios that could achieve those ends without having to pass the security lines and wihtout needing hi-tech support.

  64. Shore Guy says:

    Ket,

    I submit that were al Qaeda to destroy 5 commuter aircraft over the course of a single day (maybe 300 killed, and, likely less than that), we would see a 9-11-like disruption to the US economy. Huge numbers of cities are exclusively, or mainly serviced by regionals. AND, the loss would affect the worldwide demand for air travel.

  65. Al Gore says:

    Margin requirement raised for gold and for silver the 2nd time in a week. The vigilantes will not be happy about this. Crash JP Morgan, buy physical silver for delivery.

  66. Schrodinger's Cat says:

    Shore 65

    An interesting debate to have off line.

  67. Shore Guy says:

    Ket,

    I have discussed many ways with DHS folks and with others at aviation security gatherings. There are a multitude of ways the bad guys can get us, that are very low tech, and which we cannot prevent.

    As long as people ar motivated to kill other people, they will. We can not eliminate the threat, even by descending into a police state. All we can do is mitigate.

  68. Schrodinger's Cat says:

    AL
    Things are heating up fast

    Austria Witholds Funds To EU Greece Bailout Package, Says Greece Hasn’t Met Commitments To EU On Public Finances

    Finland Opposes Aid To Ireland

    Spain should be popping up on the radar any day now.

  69. Schrodinger's Cat says:

    Shore 68

    Agreed. Any free society comes at such a price. The only viable response in a free society is to deal with the perpetrators and go on about life.

  70. Juice Box says:

    re: # 61- Shore – We now all get an X-Ray or a reach around because of the failures in the intelligence community again. The crotch bomber should have never happened, all the information ever needed to stop him from flying before Dec 25th was there, including a damning official report from his own father who made a report to two CIA officers at the U.S. Embassy in Nigeria on November 19 last year. This guy should have been on the no fly list the moment his own father made a report on his activities, and that is without looking at where he traveled or other data collected about him.

    The No Fly List only has about 8,500 names on it. It different from the Terrorist Watch List which has about 420k names.

    If it were up to me there would be millions of names on the no fly list, if they really want to travel here they should be the ones sent though advanced screening, not me when I am taking a flight from Newark to Chicago.

  71. Schrodinger's Cat says:

    Al,

    Dont forget that foreign banks appear to have dumped huge amounts of Agencies per the latest TIC data.

  72. Shore Guy says:

    “An interesting debate to have off line”

    Yes.

  73. Al Gore says:

    Hopefully we get some word on Ireland soon.

  74. jamil says:

    68 Keith: If you say that on-air tonight I buy you a banana.

  75. Shore Guy says:

    Our homes are dangerous. We have knives, gasoline, machinery that can kill, gas lines that can blow up, furnaces that can emit CO and kill us in our sleep, electric lines that can do us in. The list goes on and on. It is folly to assume that the USG can keep us safe from everything. We have tens of thousands die each year from driving. The sooner we get over this quest to have the USG “make everything better” the better off we will all be.

    As we are not prepared to be ruthless to wipe out terrorism (just look at the impotent response to the Somali pirates aand compare it to the appproach taken in years gone by), we will be subject to it and no loss of liberty will protect us.

  76. Schrodinger's Cat says:

    AP Issues Confirmation That Austria Is Withholding €190 Million Tranche From Greek Rescue Fund

  77. Happy Daze says:

    I am still waiting for the buy-1-get-1-free offers in overbuilt prime locations.
    I anticipate any month now!

  78. jamil says:

    You know what this country needs immediately and what is the highest priority for the Admin and lame-duck congress?

    Amnesty!

    “Sen. Robert Menendez (D-N.J.), Rep. Nydia Velazquez (D-N.Y.) and Rep. Luis Gutierrez (D-Ill.) will meet with President Barack Obama Tuesday afternoon to talk about the chances of getting comprehensive immigration reform or the DREAM Act passed in the lame duck session, a House Democratic source said. “

  79. NJGator says:

    First time I have ever seen a realtor try and market a home in Glen Ridge by saying that it’s in Bloomfield. Wonder why it’s not selling :)

    We’ve looked at this place. It’s actually pretty nice, but small. Killers are that it’s over priced, has a shared driveway and while a decent lot size for the area, not much of a useable yard due to the location of the garage and the sloping of the property.

    $499000 / 3br – Glen Ridge Colonial (74 Stonehouse Road, Bloomfield)

    http://newjersey.craigslist.org/reb/2041938033.html

  80. Al Gore says:

    79.

    Bob Menendez is toast in the next election.

  81. Juice Box says:

    re # 79 – Jamil – Orin Hatch the Republican sponsored that bill and it requires two years of military service or a college degree and no criminal record for US High School Grads who are illegal immigrants to stay here.

    The Military has almost always offered a path to citizenship, college no.

  82. All "H-Train" Hype says:

    Al (74):
    This is amazing to watch. It all works so well until it the music stops.
    Austria – Out
    Finland – Out

    We’ll see who is left to bailout the rest of the EU.

  83. safe as houses says:

    #80 NJGator

    Grab this one in Livingston instead. 4 bed 1.5 bath 379k

    http://www.realtor.com/realestateandhomes-detail/27-Lexington-Drive_Livingston_NJ_07039_M60010-52672

    It’s a nice neighborhood. It’s on a sides treet but only 2 blocks or so from Livingston Ave. There’s a bus stop right in front on Livingston Ave. And you can walk to ShopRite, a bagel shop, a liquor store, and DDs within 5 to 10 minutes.

    And it’s 20% less then 2004 sales in that section of Livingston. Listed for at least 30% off the peak. Smaller, similar houses in not as nice locations in Livingston were going for 600k at the end of 2006. Could be 40% off the peak. time for BC to check the laces on his boots.

  84. Al Gore says:

    83.

    Hype,

    It gets uglier by the minute. For the life of me I cant imagine Ireland not taking the bailout especially after signing the Lisbon treaty which was widely regarded as a fraudulent vote. Then again you never know.

  85. jamil says:

    79 I’m not deeply familiar what Hatch proposed earlier but quick search does not indicate anything about college. In anycase, this is proposed and pushed by dems in the usual way:
    Some enforcement promises (which will be ignored just like today, and in most cases killed by liberal activist judges) and some concrete amnesty promises (which will be upheld 100% and extended by liberal activist judges). Next round of amnesty is then demanded soon afterwards.

    Lame-duck congress really should not have power to do anything.

  86. jamil says:

    “We’ll see who is left to bailout the rest of the EU.”

    EU is an organization where everybody can play. In the end, Germany bails out everybody.

  87. Schrodinger's Cat says:

    Jamil 87

    I am not so sure about that. The German people are already pretty worked up about the situation and aren’t nearly as docile as overweight Americans are.

  88. safe as houses says:

    #88 Cat,

    They are world class at following orders.

  89. Al Gore says:

    From the WSJ:

    •Officials also discussing smaller bailout for Irish banking sector alone
    •Eurozone members want UK contribution to rescue
    •IMF to have role in Irish rescue
    The EURUSD so far calls shenanigans on the latest development, and may soon breach 1.35.

  90. Al Gore says:

    With the USD approaching 80 what the h_ll is Ben going to do now?

  91. Juice Box says:

    The irony here is Germany holds most of the Irish bonds about 127 Billion, their own banks could go under and the pensioners will be eating friskies if there is no bail-in or bail-out. The ECB will be forced to just print their way out like we are attempting to do.

  92. yo'me says:

    Equity sell off,bringing down commodities with it!

  93. Schrodinger's Cat says:

    irish Government to make a statement at noon EST

  94. yo'me says:

    Here’s Who’s Getting Pounded When Greek Debt Holders Take Their Haircut

    Read more: http://www.businessinsider.com/greece-pounded-collapse-2010-4#french-banks-represent-over-25-of-claims-1#ixzz15SwnSRAN

  95. implosion08 says:

    Grim, Clot or anyone else knowledgeable – random OT question. Do you know if there is any way through MLS, public record, or other source to find houses that use a particular type of heating in a zip or county? Suppose I want to find which houses use gas heat in _____ zip? I have seen that through MLS in another state. Thanks

  96. Dan says:

    Gator,

    Weren’t there two on Chestnut Hill for under $500k? What about those?

  97. Orion says:

    Howard Davidowitz on radio w/Pimm Fox yesterday. Howard is shellacking (?) the economy. There’s no mincing words with this guy.

    http://media.bloomberg.com/bb/avfile/vV98ekr5NECc.mp3

  98. prtraders2000 says:

    GM ipo upped to $32 -$33 per share. Is this still worth trying to get in?

  99. Schrodinger's Cat says:

    Al

    Look at gold. Got your truck ready?

  100. Libtard says:

    Not looking like a good week for an IPO. Figures since it’s your tax dollars that are being paid back through this IPO.

  101. NJGator says:

    Dan 98 – There were. One is gone (I think it went UC, but not sure) – it was a cape. The splanch (GSMLS 2792223 ) is still sitting months later at it’s original ask – $495k. We looked at this one. Bizarre little house – owner is running a Discus fish importing business out of the basement. Basement is wall to wall aquariums filled with fish and has it’s own furnace.

    The really weird part about the house though is the master “suite”. We’ve posted about it before. For some reason the owner decided he did not want to put full walls around the bathroom. You can barely make it out in this picture, but you pretty much have a view of the toilet from the bed in the sleeping area as well as the office. Yuck. When we looked, the owner kept following us around in a creepy manner and repeatedly said that we could put up walls if we wanted to.

    http://imagehost.gsmls.com/pubhigh/23/2792223_7.jpg

  102. Libtard says:

    Plus the house furnace (owner is taking the good one he installed to heat the basement fish breeding grounds) is a Rolls Royce that appears older than the house.

  103. SG says:

    Cat: Its him his wife and their 2 kids. 6000 sqft for 4 people is ridiculous.

    Growing up in India, we had 500 sq ft flat for 5 (parents + 3 kids) people. 100 sq ft pp. I have best of memories….

  104. Schrodinger's Cat says:

    Stubborn Ireland Refuses To Yield To European Banking Interests, And Exchange Senior Note Recoveries For Austerity

    Contrary to CNBC’s interpretations of Irish PM Cowen’s speech that the leader may have opened a door, or is “clearing the political space” for a bailout, the Irish Times has a completely opposite take on the speech, one that confirms that no matter how hard Ireland is pushed by Europe and Fed interests to exchange par recoveries to the bankers for austerity, it has so far refused to bend. To wit: “Speaking in the Dail Mr Cowen reiterated that Ireland had made no application for external support and said there had been some “ill-informed and inaccurate” speculation about the Government seeking a bailout in recent days.”

    http://www.zerohedge.com/article/stubborn-ireland-refuses-yield-european-banking-interests-and-exchange-senior-note-recoverie

  105. Unexpected HEHEHE says:

    Re Gold and silver:

    CME Raises Gold Futures Margins By 6%, Hikes Silver Margins For Second Time In Under A Week

    http://www.zerohedge.com/article/cme-raises-gold-futures-margins-6-hikes-silver-margins-second-time-under-week

    I sit and I wait

  106. Schrodinger's Cat says:

    HEHE

    I like to make small buys on the way down. I dont expect to time the bottom of the dip. 1300 has been a pretty strong floor so far. It will be interesting to see if there is any significant breach of it. besides i am not day trading it.

  107. poor guy says:

    cat 107

    if one believes that irish politicians will go against the bank sters, one is an idiot. Just like our O they are great in creating impressions and sell out their people behind their back. There is no democracy, everything is a theater for milking the shiple.

  108. Schrodinger's Cat says:

    Poor 110

    One can hope. But indeed the odds are against the irish holding out for long.

  109. Libtard says:

    If there is a full-scale, major, run for the life-boats sell-off in gold (not trying to pick a fight here), how does one unload the physical when there could be such little demand?

    This was the main reason I (foolishly) stayed away.

  110. JJ says:

    Growing up in the Bronx my brother and I slept on floor in living room and my neighbors whispered that my mother must be infertile or her husband impotent as she only had four kids. What is with three kids. Mom most of had lots of free time.

    My most crowded was my 200 square foot apartment in city when once I had three people stay over. 50 sq foot per person. Even more amazing had a 30 person party there once with BBQ and Keg on fire escape as no room in apt, 4 sq ft per person But crazier there were starving artists downstairs who split a 200 square foot apartment with 4 or 5 guys. They actually had long sticks with garbage bags attached jammed from their apt window to building next door with stuff in garbage bags. Two of them were always on steps, by laundry room or on milkcrate in front of building, even funnier if they had to do anything like read NY times or fold laundry they had to do it in hallway. I think the most I saw there was six one week. 34 square feet per person. However, the bodybuilder down hallway with wife and kid and large dog who worked from home and had a large weight set in apt was the craziest in 200 sq feet.

    In my old building a 500 sq feet would be 2.5 apartments.

    SG says:
    November 16, 2010 at 1:11 pm

    Cat: Its him his wife and their 2 kids. 6000 sqft for 4 people is ridiculous.

    Growing up in India, we had 500 sq ft flat for 5 (parents + 3 kids) people. 100 sq ft pp. I have best of memories….

  111. poor guy says:

    libtard&gator

    weren’t you bidding for some property in GR? what happened with that? imho it’s not a good time to buy there–inventory sucks. why don’t you hold out for spring??

  112. Schrodinger's Cat says:

    Libtard

    When the strip mall signs change from We Buy Gold to We Sell Gold it’s time to sell.

    Sell it back to the same broker you bought from. We aren’t serious;ly talking about mad max scenarios here.

  113. Schrodinger's Cat says:

    Taking financial advice from a cat is a good way to lose money

  114. Zhang Fei says:

    Market question for JJ (and anybody else who cares to venture a guess):

    What do you think of munis? In the months ahead, will local governments be able to roll over their debt? If not, do you see a cascade of defaults ahead? Will Uncle Sam come to the rescue (whether via Fed purchases or direct Congressional appropriations) before big defaults materialize?

  115. Al Gore says:

    112.

    Your local coin dealer will buy them for cash.

  116. Libtard says:

    Schrodinger’s Cat says:
    November 16, 2010 at 1:53 pm

    Libtard

    When the strip mall signs change from We Buy Gold to We Sell Gold it’s time to sell.

    What if it drops $200 in one day (which it literally could with the right circumstance). Waiting for the mall to change the sign might be too late.

  117. Schrodinger's Cat says:

    Next month the government will deliver its latest austerity budget with the aim of slashing a further €15bn from public spending on top of the €14.5bn it has already been forced to cut. But Kelly has argued that the public sector cuts are “an exercise in futility” when compared with the €70bn bill for Ireland’s bad banks. “What is the point of rearranging the spending deckchairs, when the iceberg of bank losses is going to sink us anyway?” he asked in the Irish Times last week.

    http://www.guardian.co.uk/world/2010/nov/14/ireland-economic-crisis

  118. Al Gore says:

    119.

    If you think you are safer in cash then stay in cash or buy some Canadian dollars. Just remember trying to open a Canadian bank account comes under scrutiny due to the patriot act.

    PPT has this one covered folks. Enjoy the rest of the afternoon.

  119. NJGator says:

    Poor Guy 114 – No offers on anything yet. We might consider doing the work on one property if we could get it at a lower price, but we are more than likely just going to wait until Spring. More inventory, more money saved and no need to move Lil Gator to a new school if we wait. Plus Stu is really in no shape to do work on our current or a new place at the moment. So I guess you can describe us as extremely unmotivated.

  120. J. says:

    Funny how the teabaggers shrieking about “freedom” aren’t uttering a peep out of virtual strip searches and government groping at airports.

  121. NJGator says:

    If Graydon and Ellery get a younger sibling next year, the kid’s likely to be named Sawyer, Paxton or Buster.

    http://kids.baristanet.com/2010/11/baby-name-predictions-for-2011/

  122. Barbara says:

    soap opera names.

  123. Libtard says:

    Paxton?

    Oy vey!

  124. Libtard says:

    California Will Default On Its Debt, Says Chris Whalen

    http://tinyurl.com/shiznitt

    “Of course, if Whalen is right, the country could have a major crisis on its hands. California is hardly the only state in trouble (click here to see the worst ones), and pension funds and other “safe” investments that Americans depend on will get hammered if states begin to default.

    Fixing state and local obligations will also require the renegotiation of pensions and salaries that government workers have long since taken for granted. And they certainly won’t give those up without a fight.”

  125. poor guy says:

    gator 122

    there’s one new in Lorraine st which I haven’t seen and the one in the north (mls 2761525) for 460 which seems a better deal. Have you checked them out?

    Get well–you are right health=#1 priority

  126. NJGator says:

    Poor Guy – No pics yet on Lorraine. We’ve looked at a few houses there. Lots are tiny (only 40×100) and most of the houses hover around the 1600SF range – on 3 levels.

    Also not too crazy about the Superfund history of that block.

  127. JJ says:

    Muni state GO bonds and revenue bonds are safe. It is damm Xanadu, stadium, broker hospitals etc. that issued bonds that did not make sense in first place but people bought anyhow as they assumed state would bail out or bond insurer would pay out, that is no longer true.

    A rare muni I have is triple AAA. Damm thing is insured by MBIA, then insured by Radian if MBIA defaults, if both MBIA and Radian defaults it is insured by a letter of credit at TD Bank. And on top of that is a revenue bond backed by hard assets. Trouble is bonds like that have a low yield. People looking for yield jumped on stuff like Mets stadium bonds, a half empty stadium with ticket prices being cut.

    Oddly AMBAC insured munis bonds are super safe. In BK regulator took 100% of funds necessary to pay off all their insured munis which is being held by the insurance regulator in a separate account.

    Bottom line non insured, non state GO muni bonds that are not backed by a revenue producing asset like a bridge, toll, sewer or water are the only risky ones.

    Zhang Fei says:
    November 16, 2010 at 1:55 pm

    Market question for JJ (and anybody else who cares to venture a guess):

    What do you think of munis? In the months ahead, will local governments be able to roll over their debt? If not, do you see a cascade of defaults ahead? Will Uncle Sam come to the rescue (whether via Fed purchases or direct Congressional appropriations) before big defaults materialize?

  128. NJGator says:

    Poor – we’ve also looked at the one on the North side. Decent amount of space but it needs everything. The kitchen needs a bomb detonated in it, the “powder room” on the ground floor is a glorified broom closet with a toilet and no sink. The 2nd floor bath is floor to ceiling marble (and not the good kind) with a bidet. No central air. 3rd floor needs a bathroom added and the basement is not finished.

    It has potential, but needs massive amounts of cash sunk into it.

  129. jamil says:

    127 letarded:

    How about congress passing legislation saying that Feds can bail out states if needed (but as a result, the state loses their congressional representation for the next 10 years). Getting rid of congresscritters in Senate and the House from halfdozen blue states may be worth the bail-out.

  130. cat (69)-

    After Ireland keels over, Spain and Portugal should be in a death race to the bottom.

    Good times.

  131. poor guy says:

    g 129

    true true. houses are packed over there but taxes are low. if you were looking for something you can do work on (I am not) there were quite a few good ones a couple of months ago. one in washington st in a huge lot went for 450k which I even entertained for lack of better options but turned down because of superfund site. they go out FAST while those on montclair sit and sit

  132. juice (82)-

    I have no problem turning over our armed services to Mexican mercenaries and putting them on a fast track to citizenship.

    I’d love to sic a batallion of La Raza on AQ. We’d get some action in a damn jiffy on that one.

  133. Better that than Mexican quants.

  134. yo (96)-

    Don’t mention “pounded” and “Greek” in the same sentence. You’ll just get jj all revved up.

    “Here’s Who’s Getting Pounded When Greek Debt Holders Take Their Haircut”

  135. implode (97)-

    You can have an agent do a MLS “custom search” for you that keys on that particular field.

  136. Al Gore says:

    133.

    Lamar dont forget about Commiefornia. Hand the chicks with dicks out there a shovel and tell em to start digging.

  137. lib (112)-

    Unload it on me. :)

    “If there is a full-scale, major, run for the life-boats sell-off in gold (not trying to pick a fight here), how does one unload the physical when there could be such little demand?”

  138. implosion08 says:

    Lamar – (138) Thanks. But am I correct that they can only see houses that are on the market or have recently been sold?

  139. jamil (132)-

    I think that runs a little counter to that taxation-without-representation thingy.

  140. Dink says:

    Poor & Gator

    New one on Roswell terrace came on the market today. No pics yet. Sold in 2004 for $485, listed at $569. 4 bed/2.5 bath (new master bath).

  141. NJGator says:

    Poor – We’d actually prefer to be in the south end because of taxes and price. I think ideally we’d like to be no further south than Adams with a definite hard line in the sand at Carteret.

    As for work, we’re willing to do some, but I don’t know if we have it in us to do everything. I would like to find something that is at least liveable while work is done over time.

  142. poor guy says:

    jj 113

    you were lucky to have a room. Would have been a palace to us. We lived for three months in a paper bag in a septic tank. We used to have to get up at six in the morning, clean the paper bag, eat a crust of stale bread, go to work down the mill, fourteen hours a day, week-in week-out, for sixpence a week, and when we got home our Dad would thrash us to sleep with his belt. And you try and tell the young people of today that they won’t believe you.

    http://www.youtube.com/watch?v=13JK5kChbRw

  143. Perhaps we could alternatively unload some thermonuclear payloads on CA should they default.

    That should teach them.

  144. implode (141)-

    Might be able to seach archives on that field. Don’t know for sure.

  145. NJGator says:

    Thanks Dink. Guess it will be viewable to us little people tomorrow? I don’t see it on the GSMLS yet.

  146. Confused In NJ says:

    California Will Default On Its Debt, Says Chris Whale

    Municipal bonds have plummeted in recent days, as investors have suddenly focused on huge state and city budget deficits that there’s no easy way to fix.

    Nowhere has this collapse been more visible than California, which faces a massive $25 billion shortfall and red ink for as far as the eye can see.

    After years in which every looming financial crisis has been met with a government bailout, you might think that the same solution awaits California, as well as all the other states that have huge obligations that they can’t afford to meet.

    But this time that may not happen, says Chris Whalen, a financial industry analyst and Managing Director of Institutional Risk Analytics.

    In fact, Whalen thinks that California will default on its debt–hammering all the pension funds and other investors who have loaded up on apparently safe state bonds.

    The state won’t immediately default, Whalen says. It will start by issuing the same sort of IOUs that it issued to by itself time during its budget crisis last year. But, eventually, the debts will have to be restructured, and this will result in those who own California’s bonds receiving less than 100 cents on the dollar.

    Why won’t California just get a bailout?

    Because the Republicans now control Congress, Whalen says. And also because, if California gets bailed out, dozens of other states will immediately line up with their hands out. The public is fed up with bailouts, Whalen says–and eventually, the country will be forced to face up to its bad debts and write them off.

    Of course, if Whalen is right, the country could have a major crisis on its hands. California is hardly the only state in trouble (click here to see the worst ones), and pension funds and other “safe” investments that Americans depend on will get hammered if states begin to default.

    Fixing state and local obligations will also require the renegotiation of pensions and salaries that government workers have long since taken for granted. And they certainly won’t give those up without a fight

  147. poor guy says:

    dink 143

    thanks. the ones near the hospital used to go for under 500k-I guess times have changed

  148. Dink says:

    Gator, “no shows till broker open house on 11/19”.

    Its 2 Roswell if you wanted to give it a drive by.

  149. Dink says:

    Gator,

    That south in GR doesn’t get you a little nervous? Seems like you’re really squeezed by East Orange and the south sides of Bloomfield and Montclair. In a shtf scenario, you dont have much of a buffer zone.

  150. NJGator says:

    Poor Guy 150 – You are forgetting that 3 -1 1/2 that sold on Sherman for almost $570k.

  151. Al Gore says:

    EU bailout conference beginning now. Come watch so doom and try on your adult diapers.

    http://video.consilium.europa.eu/index.php?lang=EN&sessionno=3169

  152. JJ says:

    poor guy says:
    November 16, 2010 at 3:37 pm
    wow you had a paper bag, bread, a job and a salary I wish I knew some rich folks like you growing up
    jj 113

    you were lucky to have a room. Would have been a palace to us. We lived for three months in a paper bag in a septic tank. We used to have to get up at six in the morning, clean the paper bag, eat a crust of stale bread, go to work down the mill, fourteen hours a day, week-in week-out, for sixpence a week, and when we got home our Dad would thrash us to sleep with his belt. And you try and tell the young people of today that they won’t believe you.

  153. poor guy says:

    dink 152

    you are right — this area is the least safe that’s why prices are low. However a house in winsor pl went for 700k although the houses across the street were in bloomfield. that goes to show that prices are all over the place. by the way GR in petty crime is almost as bad as montclair, south orange, etc due to lack of “buffer zone” I had some interesting crime maps I will post if I can unearth them

  154. JJ says:

    Three old jewish men talking about how tough it was growing up.

    First guy, I had to walk sixteen miles in the snow to school with shoes with holes in them.

    Second guy, thats nothing I had to walk 30 miles to school barefoot as we could not afford shoes

    Third guy, you had feet?

  155. NJGator says:

    Dink 152 – I don’t really want to go as far as Carteret….might be willing to for a really nice house. We do have lots of friends in the Maolis/Astor/Midland area and I don’t feel unsafe there at all.

  156. NJGator says:

    Poor 159 – I would love to see them.

  157. Barbara says:

    Ok, I’m willing to entertain the notion that I’m REALLY paranoid….really…really…..BUT……

    my 2nd grader has no brought home math homeowrk for three weeks. Why? Teacher says the copying machine is down. Really? Never had these copier problems in years past and…..it was all on the heels of an important state math test. Test was taken on Friday. Today, PRESTO! Copy machine is working, now we have math homework. I homeschooled my kid for that test and he aced it, thankfully. I cannot help but connect this to some passive aggressive reaction to the Christie budget and some some political manuevering to skew the numbers there after.

  158. Comrade Nom Deplume says:

    [156] chifi

    Yeah! Now that is how you populate a Nompound!

  159. Comrade Nom Deplume says:

    [163] barbara,

    I would not say paranoid. Your instincts serve you well, and are probably correct. And as municipal employee retribution goes, I would say that the copy thing was pretty bush league. I have heard of “work to the rule” stuff where teachers refuse to meet with kids needing extra help, etc., or perform any task not absolutely required by the contract. I have also heard of teachers refusing to give recommendations to kids that are applying to colleges.

    2nd grade is still rather early. I’d dump it back on the school and when Jr. doesn’t do well, point out the obvious work slowdown.

  160. Wildie says:

    You’re paranoid…

  161. poor guy says:

    gator 162

    I found some for Bergen but you can still see GR (these are from 2007). Divided to property and personal crime. surprises? comments?

    http://img641.imageshack.us/img641/7493/bergenpropertycrimebyzi.jpg

    http://img442.imageshack.us/img442/7026/bergenpersonalcrimebyzi.jpg

  162. Comrade Nom Deplume says:

    “123.J. says:
    November 16, 2010 at 2:28 pm
    Funny how the teabaggers shrieking about “freedom” aren’t uttering a peep out of virtual strip searches and government groping at airports.”

    The government intrusion easily avoided because flying is a discretionary activity. No one forces you to fly. Taxes are a different matter.

  163. Outofstater says:

    #163 That seems a little suspicious to me too. Around here, the state tests are a huge deal with lots of practice and parents can get practice tests online (I never bothered). We’re told exactly when the tests will be given and to make sure the kids have a good breakfast. The parents donate bottled water and healthy snacks for the kids every day. When the week of testing is over, the kids have a little party in the classroom.

  164. poor guy says:

    Found a better one. Also Lorraine pics are posted in gsmls.

    http://img508.imageshack.us/img508/8049/nenjpersonalcrimebyzip.jpg

  165. poor guy says:

    those maps make me want to move to millburn or maplewood

  166. Nomad says:

    NJ Gator – if you have never rennovated a home, talk to those who have and think long and hard about it. Extremely stressful on family is an understatement. If you have, disregard these comments. I’vd done two and will never do so again.

  167. Comrade Nom Deplume says:

    I seem to recall that I was posting about this last year:

    “Retired Americans are racking up credit-card debt like never before, be it for vacations or medical expenses, and a surprising number have no intention of paying it off before they die.

    Nearly 40 percent of retired Americans said they’ve accumulated credit-card debt in their twilight years — and aren’t worried about paying it off in their lifetime, according to a survey released by CESI Debt Solutions. . . .”

    http://www.cnbc.com/id/40214649

    One thing I said to expect would be the CC banks cutting credit lines for retirees. They can do this in any number of legal ways, from reweighting income and available assets in their scoring models, to automatic cuts when bill payment habits change (e.g., holders that always paid in full suddenly start paying minimum).

    The new finreg rules may impact some of this but the regulators are not going to prevent banks from implementing prudent rules that guard against default losses.

  168. Dink says:

    Poor,

    Those very low rankings for Hillside and Union have me suspicious of this data.

  169. JJ says:

    Wow a copy machine. You guys are old school in NJ. We have on-line math for elementary school out on LI.

    Barbara says:
    November 16, 2010 at 4:21 pm
    Ok, I’m willing to entertain the notion that I’m REALLY paranoid….really…really…..BUT……

    my 2nd grader has no brought home math homeowrk for three weeks. Why? Teacher says the copying machine is down. Really? Never had these copier problems in years past and…..it was all on the heels of an important state math test. Test was taken on Friday. Today, PRESTO! Copy machine is working, now we have math homework. I homeschooled my kid for that test and he aced it, thankfully. I cannot help but connect this to some passive aggressive reaction to the Christie budget and some some political manuevering to skew the numbers there after.

  170. Barbara says:

    JJ, the school’s website looks like it was designed in 1995. Useless.

  171. JJ says:

    cold spring harbor website even lets you order kids lunches on-line and pay for them. I would love to wait till 11:50am every day and change the order to carrots and spinich

  172. Schrodinger's Cat says:

    Chifi 156

    I is ee that and raise you this

    http://www.youtube.com/watch?v=C5IaSbNoXJ8

  173. Al Gore says:

    The USD has been devalued inside the SDR basket of currencies.

    U.S. dollar 41.9 percent (compared with 44 percent at the 2005 review)

    Euro 37.4 percent (compared with 34 percent at the 2005 review)

    Pound sterling 11.3 percent (compared with 11 percent at the 2005 review)

    Japanese yen 9.4 percent (compared with 11 percent at the 2005 review)
    http://www.imf.org/external/np/sec/pr/2010/pr10434.htm

  174. Schrodinger's Cat says:
  175. Fabius Maximus says:

    #84 Safe
    I would run like he11 from that place. Is that water damage in the kitchen and picture 7? False ceiling, an probably a bedroom in the basement.That must be quite a slope on the lot as well. Even at peak you could find a nice split for high 4’s.

    We looked at Livingston back in the day but the soft school district was deal killer for us. Also whats with the 12% tax hike. They have so many rateables.

  176. safe as houses says:

    #183 Fabius

    I didn’t catch the water damage in the kitchen, but in that neighborhood the upstairs bathroom is right above the kitchen. I’d think its probably from an overflown toilet or sink.

    I thought the drop ceiling was in the basement. Some of those houses built on slight slopes like that have normal windows in the basement.

    And I’ve seen smaller colonials then that in much less desirable parts of livingston go for 599k in Nov and Dec 06. I saw those comps in Feb of 07 and laughed and wrote off Livingston. There were actually 2 of them had gone for 599 and above in 06 we going for resales last year.

  177. Essex says:

    Ahhhhh another day in paradise.

  178. Comrade Nom Deplume says:

    [182] cat

    Fun to look at, but I would not want to share a firing line with them. Chifi’s chick was aiming at the camera in some shots (huge safety issue unless they had an RSO or armorer on hand), and in one shot, after live fire, she muzzle swept the camera.

    The chick you showed nearly muzzle swept herself.

    The RSO at Wicen’s would have ripped their respective heads off.

  179. Smathers says:

    Wow, Russell d’Anton looks like the spitting image of the kind of retards that give Jersey a bad name.

    his photo here

  180. barb (163)-

    If you aren’t convinced by now that your kid’s teachers are trying to turn him into a sniveling puppet for the Man, you’re asleep.

  181. stater (169)

    Cute. Throw a little party after the state brainwash tests…to celebrate the little tykes’ minds slowly being turned to mush.

  182. NJGator says:

    Take the No. 7 to Secaucus? That’s a Plan

    Ever since Gov. Chris Christie of New Jersey killed an expensive plan for a new commuter rail tunnel to Manhattan, the Bloomberg administration has been working on an alternative: run the No. 7 subway train under the Hudson River.

    Ruth Fremson/The New York Times

    The No. 7 train, which connects Manhattan and Queens, could be extended to New Jersey.

    The plan envisions the No. 7 stretching from 34th Street on the Far West Side of Manhattan to Secaucus, N.J., where there is a connection to New Jersey Transit trains. It would extend the New York City subway outside the city for the first time, giving New Jersey commuters direct access to Times Square, Grand Central Terminal and Queens, and to almost every line in the system.

    Like the project scuttled by Mr. Christie, this proposed tunnel would expand a regional transportation system already operating at capacity and would double the number of trains traveling between the two states during peak hours. It would do so at about half the cost, an estimated $5.3 billion, according to a closely guarded, four-page memorandum circulated by the city’s Hudson Yards Development Corporation.

    http://www.nytimes.com/2010/11/17/nyregion/17tunnel.html?src=me

  183. Brian says:

    Interesting auction in the adirondacks.

    http://ogs.state.ny.us/BU/RE/Sales/Gabriels/Docs/AuctionDetails.pdf

    Sealed bids were due by today. I didn’t want to be outbid by a bunch of NJ money so I kept it too myself :)

    Some interesting buildings, waste treatment, wells, former dorm/min security prison.

  184. NJGator says:

    Surprise. The municipal garbage men don’t think outsourcing trash collection will save much money.

    http://www.northjersey.com/news/108461299_Refuse_collection_now_a__good_value___municipal_official_says.html

  185. Steinhardt says drop GM like it’s hot.

    “On one hand you have Phil Lebeau. On the other you have legendary hedge fund investor Mike Steinhardt. When asked whether he would sell a hypothetical allocation of GM stock, Steinhardt’s response is about as priceless as it gets: “As quickly as I can. I don’t think one should be a long-term holder in government securities, particularly government equity securities.”

    http://www.zerohedge.com/article/hedge-fund-titan-steinhardt-says-he-would-sell-gm-stock-quickly-i-can

  186. gator (192)-

    They keep forgetting to collect that giant piece of human trash, Mayor Fraud.

  187. chicagofinance says:

    FCKIN BOOYA! Let’s Go Mets…..

    NJGator says:
    November 16, 2010 at 10:38 pm
    Take the No. 7 to Secaucus? That’s a Plan

  188. Can we all agree that Chi has snapped? :)

  189. Chi, what can I get you for Xmas? A gallon of codeine cough syrup or a case of MD 20/20?

  190. Al Gore says:

    197.

    Thats because the bond market is about to go belly up.

  191. Smathers says:

    No. 7 to NY? That’s actually not so dumb. ARC was stupid because it had no sensible connection to the rest of Penn Station. With this plan, NJ transit can just abandon Penn Station for all the lines that pass into Secaucus. I’m all for it.
    Secaucus is way too much station for what it is now.

    As it is, I won’t ride the train because I don’t trust it. Bus all the way until something better happens.

Comments are closed.