January contracts post new low

From the Otteau Group:

Multiple snow storms and the painfully slow pace of economic recovery combined to reduce New Jersey home sales in January by 22% below the prior year’s pace as the housing market turns the corner heading toward spring. This decline was heavily influenced however by January’s record breaking total snowfall as well as the absence of a homebuyer tax credit program which lifted last year’s sales. At the same time, unsold inventory was essentially unchanged in January recording a minimal 2% rise from one year ago.

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

107 Responses to January contracts post new low

  1. Libtard says:

    Frist!!!!!!

  2. Libtard says:

    Nom,

    Stop losses of any variety are for suckers. You are always, always better off setting up a stock alert and doing a quick bit of research to determine if the price drop was justified rather than just getting picked off by market makers. Trust me. I used to be the greatest fan of the TSL. Now I wouldn’t use one if you paid me to. Especially in light of the potential of high-speed trading knocking you out of trade after trade. I firmly believe that if you think it might be time to lock in the profit, then just lock it in and find something else with better potential (value). Worst case scenario, stay in cash until your next sure bet comes to life.

  3. How about the explanation for all this being that:

    – there’s pretty much only a bunch of crappy, overpriced homes offered for sale
    – there aren’t many interested buyers in the market
    – many potential buyers are not going to buy due to incalculable cost-of-carry
    – many potential buyers are not going to buy due to fear for their jobs
    – many potential buyers know that things in general are getting much worse
    – many potential buyers know that we are essentially fcuked

  4. lib (2)-

    Buy the dips.

    Works fine for the Xtranormal crowd.

    http://www.youtube.com/watch?v=jllJ-HeErjU

  5. Just buy the fcuking dip, and you will make money.

  6. At least I have a devastating Arsenal cup final loss to comfort me.

    “Dear Professor Wenger,

    I write you today with a heavy Gooner heart, still bleeding Arsenal red from that nightmare ending to the Carling Cup final at Wembley. I know you’ve always acted as though the CC wasn’t worthy of the Arsenal pedigree — I believe your exact words were, “If you win the league Cup, for me, you cannot say you win trophies” — but perhaps when you’ve gone nearly six years without being near any precious metal, even the lowly CC is better than an Ashley Cole bullet in your torso.

    It certainly felt like I had been gut-shot in the final minute of Sunday’s game. Or did you not see it? I know historically you often fail to catch ugly incidents involving your own players, but I sure hope you had a good look this time because it was a howler for the ages.

    I’m curious: Did it hurt a little more because The Fiasco featured a goalkeeper and central defender in whom you’ve had such abiding faith, despite their obvious liabilities. And especially since every Arsenal fan worth his Tony Adams bobblehead has been imploring you since last summer to bring in a keeper and center back as dominant as your players at other positions.

    Even Birmingham’s Cameron Jerome gave you a hint earlier in the week when he said that “if Arsenal have a weak point, it’s the back four and the goalkeeper.”

    http://espn.go.com/sports/soccer/news/_/id/6166518/arsene-wenger-once-again-blame-arsenal-woes

  7. gary says:

    January contracts post new low

    This is nonsense. Everybody knows we hit bottom in 2007. Besides, we’re exempt here in North Jersey because everyone is bleeding wealth and we’re a short, easy commute to Manhattan.

  8. Samivel says:

    I see loans in foreclosure everyday- 350K, 550K, 750K, 1 mil+
    To think I was intimidated by $100,000 in student loans.
    I’m such a pu$$y

  9. Al Mossberg says:

    Remember this little barn burner I mentioned the other day?

    Silver bitchez!

    http://finance.yahoo.com/q?s=GPL

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  11. Essex says:

    Cars sales have rebounded. Why? easy credit is back people. Home sales will follow. Liar loans anyone???

  12. nj escapee says:

    Hey Essex, shut up and play yer guitar!!

  13. Neanderthal Economist says:

    “Cars sales have rebounded. Why? easy credit is back people.”

    This is the most disjointed logic I’ve seen since frank was here.

  14. chicagofinance says:

    Fckn njrespamblog……

  15. chicagofinance says:

    They found mitchell:

    Federal authorities say a North Carolina man could face prison for an $80 million Ponzi scheme that persuaded people to invest in non-existent automatic teller machines.

    Vance Moore II pleaded guilty in October to wire fraud, and conspiracy to commit wire fraud. He was scheduled for sentencing Monday afternoon in Manhattan.

    Authorities said the Raleigh, N.C. resident previously agreed to forfeit $50 million and any right to properties in North Carolina and Florida.

    Prosecutors said Moore falsely represented that investors had purchased more than 4,000 ATMs. They said 90 percent of the machines did not exist or were not owned by Moore.

  16. Ultimate Colossus says:

    [b]How playing can help your toddler develop[/b]

    Numerous studies have shown us that the act of playing is indeed an essential part of childhood. Play helps a child develop cognitive, social, language and motor skills in a fun and imaginative way. Children’s toys and games supplement a child’s ability to interact with and explore the world around them. Fun, imaginative, creative and interactive children’s toys help youngsters explore social roles, expand language skills and foster creativity. Parents should always provide their children with toys that are educational, stimulating and creative so that these toys enhance their child’s development.

    Young children such as toddlers benefit most from children’s toys that help them build up their skills in every area since they are still at the point where they are acquiring these developmental skills. Toddlers benefit most from games that allow them to fine-tune their skills. They need toys that will enhance their fine and gross motor skills, language skills as well as their social skills.

    Children’s toys such as building blocks, dress up kits, simple arts and crafts sets are great toys for toddlers. Toys that require a toddler to manipulate objects draw or paint using different tools, build things will help them develop their fine and gross motor skills. Children’s toys that require a toddler to pretend play either through dressing up or through imitation helps develop social and language skills. Certain children’s toys help toddlers develop cognitive skills such as reasoning skills, visual-spatial skills, numerical skills and more.

    Toddlers are at a stage where they require support to develop skills in every area of development and this is why it is important for parents to provide their children with the right toys. When choosing toys for a toddler parents should remember to check if the toy is age appropriate and suited for the developmental level of the child. A toy that is too challenging for a child will not contribute to development but it will lead to frustration. The children’s toys should not only be interactive and colourful but it should contribute in some way to the toddler’s development. Children’s toys should always be made out of the highest quality materials and should use materials that are safe and toxin free. To ensure that you invest in a product that is safe for your toddler buy brands that you know assure quality children’s toys.

    Children’s toys are a great way to enhance and supplement your toddler’s developmental skills and ensure that they are ready to take the next step. Parents who provide their toddlers with the correct children’s toys are investing in their child’s future.

  17. Beyond Thunderdome says:

    Surprised JJ hasn’t tried to say he set a weight lifting record at the NFL combine … Like this lineman from Oregon St who benched 225 lbs 49 times

    http://is.gd/LYABHB

  18. Theo says:

    Anyone know what the typical length of time is from getting out of attorney review to closing on a short sale?

  19. Comrade Nom Deplume says:

    [20] Thunderdome

    JJ was in the combine once. He scored a 56 on his wonderlic test.

  20. Comrade Nom Deplume says:

    [2] stu

    I know, I know. Never get to Lord of the Manor if I keep making stupid moves like that.

  21. Dan says:

    The more I see this video of Qadaffi, the funnier it gets….

    http://www.youtube.com/watch?v=cBY-0n4esNY

    shebr shebr = inch by inch beit beit = home by home dar dar = house by house zenga zenga = lane by lane ila al-amam = to forward thawra = revolution maee el-malayeen = I have milions (ppl) dakkat saat al amal = time for work dakkat saat al zahaf = time for march dakkat saat al intesaar = time for victory la rojoo  = no retreat

  22. Al Mossberg says:

    There arent any WMD’ in Iraq. JJ lives in Bergen County.

  23. Fabius Maximus says:

    # 6 Clot

    What a crock of $hit. We have a team that was written off as underdogs three years ago as a bunch of youngsters playing in the park. Now we are competing on all fronts. Will we win the league? Chelsea and Liverpool might put us back into contention this week. FA Cup? ManU at OT is a tough call. Champions League, we need a goal at the Nou Camp to negate the away goal as they will score at home. But if we don’t win anything, it has still been a good season and CL should be a shoe in for next year.

    Does this hurt, yes, its up there with the 78 cup final we lost to the Fcuking Farmers. As for Hirshey, in the spirit of Roy Keane, I hope he chokes on a prawn sandwich.

  24. Fabius Maximus says:

    #62 Juice (previous thread.

    The big point here is not the quantity, but the quality. Libya pumps that 2% as Light sweet crude, it has almost no sulphur so it’s like liquid gold, compared to Brest crude, Canadian tar sands or Texas Tea.

  25. Fabius Maximus says:

    Shore ,

    Read that article and still think that CC just doesn’t get the math. At this point he is just making the problem worse. Forcing 30K teachers into retirement and the state working hitting the retirement doors is really helping the situation.

    To use his ABC healthcare plan analogy, his first call should not be to people choosing plans A, it should be to the people picking or administering the plan A to work out why people aren’t taking the other choices. Don’t blame the players when them game is rigged?

  26. Essex says:

    13. always good advice!

  27. Mike says:

    How long before the government comes out with the real estate version of CASH FOR CLUNKERS? They can call it SCRATCH FOR SHACKS. Qualifications, you must be underwater on your mortgage by 50% or have not made a mortgage payment in 2 years. Sorry caffeine does this to me.

  28. Confused In NJ says:

    11.Essex says:
    February 28, 2011 at 9:26 pm
    Cars sales have rebounded. Why? easy credit is back people. Home sales will follow. Liar loans anyone???

    Part of the car sales rebound is replacement vehicles for NJ people involved in accidents this winter. My next door neighbor just replaced her Jetta after a truck slid into it at the last ice storm. They totaled it, after the box truck hit her in the back at a light, pushing her into the van stopped in front of her. Totally not at fault.

  29. JJ says:

    Speaking of football. I am mad and not going to take it anymore. In today’s Wall Street Journal there is a big picture from Jets/Bills game which was last game of season of Rex going around field shaking hands. And damm it, the snot nosed little punk kid who I scalped my tickets too as I thought it would be freezing is there getting his picture taken in my seats. Only plus side I can use the picture to sell tickets next year.

    The colubine is stupid. My dumb cousin who was really good at football failed out of three college academically and thus could not enter draft or play pro football.

    February 28, 2011 at 11:28 pm

    [20] Thunderdome

    JJ was in the combine once. He scored a 56 on his wonderlic test.

  30. borat obama says:

    Second

  31. JJ says:

    I have a picture pre-digital cameras of me at the 1996 Olympics in Atlanta. Two medal winning US weightlifters was doing a picture and autograph session. It was a free poloroid shot, anyhow I was talking smack about how their “guns” aint all that, of course I wiped my gun out and flexed it right in front of their faces for the camera shot, the guys were cool when I showed it to them. My gun was closer to camera and looked bigger than all four of their guns. That was a good olympics, a plan blew up off LI at start of it and then you had the bomb at the olympics. I was able to get into tons of events and meet lots of athletes due to attendence being down.

    Beyond Thunderdome says:
    February 28, 2011 at 10:59 pm

    Surprised JJ hasn’t tried to say he set a weight lifting record at the NFL combine … Like this lineman from Oregon St who benched 225 lbs 49 times

    http://is.gd/LYABHB

  32. borat obama says:

    I scored a 150 on my wonderlic test.

  33. JJ says:

    SJU is ranked 15 in country today!!! Screw Real Estate, these are days of bread and wine, just give me some gladeators to watch so I don’t notice rome if burning.

  34. Lone Ranger says:

    “And damm it, the snot nosed little punk kid who I scalped my tickets too as I thought it would be freezing is there getting his picture taken in my seats.”

    Stub Hub now includes a pic of the buyer?

  35. Essex says:

    28. Seen some real ugliness by the skyway the other day coming into NJ. Carpet bombing potholes a la Philly in 1989. Watch some guy hit those and instantly lose a tire. I had to do a little swerve to avoid. Shame we can’t seem to master asphalt installation in this state. Europe and Pennsylvania both seem to do just fine with their road through all kind of traffic and weather extremes.

  36. i don’t unremarkably comment but i gotta admit thanks for the post on this amazing one

  37. JJ says:

    Actually sold that one on ebay. Big games I sell on NFL ticketexchange which is ticketmaster or stubhub. Real fans know where seats are, don’t need pictures. Games like pre-season or junky games sometimes I put on ebay so I can show actual pictures from seats. People are much more likely to go to a so so game if it is an opportunity to sit in front row. My friend has lowly Nets tickets, but his are row three behind bench. John Amos sits right next to him from good times and the Kardashian chick and some other minor celebs sit nearby. Same concept, stubhub crappy Nets game hard to sell, but put it on ebay, show shots of floor from seats and celebs nearby easier to sell. Interesting girls are big buyers. A girl would rather see Nets play Cavs in row 3 near celebs than see Nets play Heat in bad seats. Also better to take clients out to so so game in good seats. The Nets tickets my friend has gets you into the private club too. I am going to the Nets game next Friday, dead center court behind Nets bench. Should be good game as NBA slam dunk champ is playing.
    Lone Ranger says:
    March 1, 2011 at 8:50 am
    “And damm it, the snot nosed little punk kid who I scalped my tickets too as I thought it would be freezing is there getting his picture taken in my seats.”

    Stub Hub now includes a pic of the buyer?

  38. All "H-Train" Hype says:

    The colubine is stupid. My dumb cousin who was really good at football failed out of three college academically and thus could not enter draft or play pro football.

    JJ, if your cousin was that good they would have paid smart kids to take exams for him. That’s how it’s done for the superior players.

  39. i view something genuinely engrossing about your website so i saved to bookmarks .

  40. prtraders2000 says:

    What colubine does an NFL hopeful attend?

    concubine
    Columbine
    combine

  41. Comrade Nom Deplume says:

    [36] essex

    Decades ago, Art Buchwald wrote a humor piece on a fictional pothole convention, where politicians went to purchase potholes and have them installed, only to be fixed later. Doesn’t appear to be on the internet. Very apropos of your issue.

  42. Comrade Nom Deplume says:

    [41] pttraders

    Apparently you don’t understand how life here works. Now that JJ has coined the term “colubine”, the NFL is simply going to have to change the name.

  43. Comrade Nom Deplume says:

    JJ also invented the terms Pant Up Demand, Crush Valor, and invented the internet.

  44. Lone Ranger says:

    “JJ also invented the terms Pant Up Demand”

    No, that was Bi.

  45. JJ says:

    My cousin pulled a 0.0 GPA freshman year of a PAC ten school. He was that good. He was so good that when the PAC ten school got rid of him he got another full scholorship where he was also doing equally bad but school was trying to “help” him. Then while bouncing there was a “incident” with a kid whose dad knew DA over a bar fight he broke up that resulted in Felony assult charges. At that point as a junior with a 0.0 GPA and a felony conviction he was pretty much done. Nowdays that would be considered a starting player on the Jets. My cousin would think the columbine is some school where kids got shot.

    All “H-Train” Hype says:
    March 1, 2011 at 9:21 am
    The colubine is stupid. My dumb cousin who was really good at football failed out of three college academically and thus could not enter draft or play pro football.

    JJ, if your cousin was that good they would have paid smart kids to take exams for him. That’s how it’s done for the superior players.

  46. d2b says:

    JJ says, “My cousin would think the columbine is some school where kids got shot. ”

    Your cousin would be right….

  47. Juice Box says:

    JJ – your dumb cousin is allot dumber than you make him out to be. The Jets run a three-day tryout at Jets Rookie Mini Camp. All you need is an agent to make the call and the talent to survive the tryouts.

    Simi Toeaina made the Jets team during tryouts last year but was later released. Brashton Satele made the team during tryouts and is now unsigned for this season. Did you not see the movie Invincible? Every once in a while there is an undrafted player that comes along and makes the team.

  48. JJ says:

    He is dumb, trouble is as soon as he got cut the second time and had the Felony conviction he needed to wait till he either completed three years of college or hit the age of 21. The NFL does not want young kids due to the physical nature of sports. Now here is the best part. Dad says I will pay for you to attend school, he still had a shot at a third college scholorship, but since guy had a 0.00 gpa the best he got for kid was to attend queensbough community college which is super easy and get a Community college degree which would get him to a four year school his third year of college, Kid once back at home met up with all his HS drinking buddies and new drinking buddy’s and after two years at queensboro still did not have a degree, failed most classes, was out of shape and it was over. That kid played ten grade football on a scholorship to an elite private school in amazing shape with a six foot inch five inch two ninety pound body, imagine a tenth grader that size? Ended up marrying ugly girl whose dad gave him a job, could not even be a cop or a postal worker etc with a felony and no degree. He would be better off if he never played football.

    Juice Box says:
    March 1, 2011 at 10:49 am

    JJ – your dumb cousin is allot dumber than you make him out to be. The Jets run a three-day tryout at Jets Rookie Mini Camp. All you need is an agent to make the call and the talent to survive the tryouts.

    Simi Toeaina made the Jets team during tryouts last year but was later released. Brashton Satele made the team during tryouts and is now unsigned for this season. Did you not see the movie Invincible? Every once in a while there is an undrafted player that comes along and makes the team.

  49. Shore Guy says:

    I know a good number of guys who played multiple years in the NFL. The ones who benefited the most are the ones who put the NFL money to work for them by buying large farms, starting construction firms, etc.

    This includes guys who played over ten years in the league.

  50. Shore Guy says:

    And on Superbowl-winning teams.

  51. Anon E. Moose says:

    52 in mod?

  52. Shore Guy says:

    The thing that everyone I know who has gone Yi an NFL camp recounted was how much faster things are in the NFL. It doesn’t material how fast the guys were, they all remarked on the speed of the NFL.

    Another amazing thing is the speed that BFL quarterbacks put on the ball even when throwing “gently.” One’s hands can feel a huge difference between a college QB and one who plays on Sundays.

  53. Shore Guy says:

    Yi is supposed to be to
    Bloody Android.

  54. Comrade Nom Deplume says:

    (45) Lone

    He got the idea from jj.

  55. Al Mossberg says:

    Little barn burner has moved onto burning down the fields as well. Mmm Mmm Mmm. Wouldnt be a day in the gulag without some schilling for silver. Show me the money.

    http://finance.yahoo.com/q?s=GPL

  56. JJ says:

    Even 99.9% of NFL season ticket holders don’t even realize how big and quick guys are. When I was on field during practice last August I was shocked at how tall Jayson Taylor was and how long those field goals really are when you are standing on the 40 yard line. Also how far they really throw the ball. From the stands it looks like nothing for instance to kick a field goal, but on field it is pretty far. Sanchez was lobbing balls like 50 yards into Holmes hands like I would pass a salt shaker

    Shore Guy says:
    March 1, 2011 at 12:05 pm

    The thing that everyone I know who has gone Yi an NFL camp recounted was how much faster things are in the NFL. It doesn’t material how fast the guys were, they all remarked on the speed of the NFL.

    Another amazing thing is the speed that BFL quarterbacks put on the ball even when throwing “gently.” One’s hands can feel a huge difference between a college QB and one who plays on Sundays.

  57. JJ says:

    Investors line up for Ally’s $2.7 billion secondary offer
    REUTERS — 26 MINUTES AGO

    by Timothy Sifert

    WASHINGTON/NEW YORK (Reuters) – The Treasury’s $2.7 billion secondary offering of Ally Financial’s trust preferred securities (TruPS) unveiled Tuesday is expected to be a blowout, as investors rush to get in on one of the last opportunities to buy a sizeable bank TruPS deal.

    The securities are high-yielding and rare, making them popular with investors from the get-go. Ally will receive no proceeds from the deal. Instead, the US government is selling the shares it received from Ally, the former General Motors Acceptance Corp , in December 2009 as part of the bailout of the auto and home lender.

    The offering comprises $25-par non call five notes with a February 15 2040 final maturity through GMAC Capital Trust I. Ally Financial is guaranteeing the notes on a subordinated basis.

    Initial whispers surfaced at 8.50%-8.75% only to tighten to an 8.00%-8.50% range. Bookrunners have zeroed in on 8.25%, plus or minus 12.5 basis points with the launch expected at 2 pm.

    The deal is expected to be about $2.667 billion, the full size of the Treasury’s holding. The Treasury also owns $5.9 billion of mandatory convertible preferred stock in Ally and 74% of its common shares.

    An initial public offering is planned for the stock later this year. In total, the Treasury has about $17.2 billion in taxpayer funds invested in Ally at present.

    There is some precedent for success selling secondary TruPS. The Treasury sold a $2.246 billion offering of Citigroup (Symbol : C

    Ally’s will likely be one of the last, sizeable bank TruPS issued. The Collins Amendment to the Dodd-Frank Act disallows Tier 1 treatment for any newly issued TruPS. As bank regulators have sought to fortify bank capital in the wake of the credit crisis, they have been stricter with what type of capital qualifies as Tier 1, a key measure of a firm’s financial strength.

    Once a regular feature of bank balance sheets, TruPS have been one of the casualties of tighter capital policies. As a result, banks have been keen to repurchase existing TruPS. They are also exploring new Tier 1 alternatives.

    However, Ally’s TruPS were sold to the Treasury in 2009 and are not considered new issues.

    As such, the securities should continue to be included as Tier 1 capital until January 1 2018, Ally said in the prospectus. It added, however, that in the end the regulatory body that implements the Dodd-Frank Act and the new Basel proposals would have the ultimate decision about capital treatment.

  58. JJ says:

    Ally Trups sold out, damm thing oversubscribed eleven to one. Even I could not get in. But 8.5% yield backed by uncle sam and 15% taxable it was a great great deal.

  59. Confused In NJ says:

    36.Essex says:
    March 1, 2011 at 8:56 am
    28. Seen some real ugliness by the skyway the other day coming into NJ. Carpet bombing potholes a la Philly in 1989. Watch some guy hit those and instantly lose a tire. I had to do a little swerve to avoid. Shame we can’t seem to master asphalt installation in this state. Europe and Pennsylvania both seem to do just fine with their road through all kind of traffic and weather extremes

    My neighbors Passat is in the shop after hitting a pot hole crater last week. Screwed up the wheel & assembly.

  60. Anon E. Moose says:

    Confused [64];

    I had my Passat totaled out from under me when took a raised sewer cap between the wheels at 30 MPH on a road that was milled down for re-paving, which then proceeded to hit the oil pan. I inadvertently did the insurance company a favor by shifting to neutral and shutting the engine before coasting to the side of the road. Ins. co. said that the cracked engine and tranny mounts made it too expensive to repair. I’m convinced that with the good engine and body parts, they made more parting it out than they paid me to settle the comprehensive claim.

    That reminds me, I have to put in my claim for the oil sludge class action on that car.

  61. NJCoast says:

    Finally made it to white sand and blue water- where’s my fruity drink?

  62. Lone Ranger says:

    “Finally made it to white sand and blue water”

    Glory Days.

  63. Anon E. Moose says:

    NAR == The Committee to ReInflate the Bubble*, aka CRIB

    * Props.

  64. Confused In NJ says:

    Civilian deaths in Mexico higher than in Afghanistan

    COMMENTARY | The number of civilian deaths in the Mexican border town of Ciudad Juarez was greater than the total number of civilian deaths in Afghanistan in 2010, according to a report done by CNS News. The deaths stand at 3,111 deaths in Ciudad Juarez, compared with 2,421 in Afghanistan.

    And that number is just in one city in Mexico. The total numbers of 2010 deaths that are related to drug cartels are 15,273. And while the U.S. has attempted to work together with Mexico’s president, Felipe Calderon, this war just keeps getting more and more dangerous, and the danger has been spilling over to the U.S. as well. So this leads one to wonder why we are focusing on sights on conflicts around the world, such as the Libyan conflict, while a border town that is right across from El Paso, Texas is largely being ignored.

    The U.S. has entered into the Merida Initiative with Mexico which promises $1.4 billion to help fight the ever growing drug wars that are happening right on our border, but we have spent since 2001 about $748.1 billion on the Iraq war and we have also spent about $190 billion in Afghanistan so far. The $1.4 billion that we are planning on using to stop the drug cartels that have now reached every part of the U.S. is not going to help. And with limited law enforcement on the border, and relaxed gun laws in the border states, it is just a matter of time before the drug violence begins to escalate. The Merida Initiative has not helped reduced the violence from these drug cartels so far.

  65. nj escapee says:

    I find this hard to believe. Talk about lowballing: “we have spent since 2001 about $748.1 billion on the Iraq war and we have also spent about $190 billion in Afghanistan so far.”

  66. Libtard says:

    Confused…

    Because Afghanistan has a lot more than Avocados to pilfer.

  67. jamil says:

    quote of the day:

    “The unfunded liabilities of Social Security, Medicare and Medicaid already exceed $106 trillion. That’s well over $300,000 for every man, woman and child in America (and exceeds the combined value of every U.S. bank account, stock certificate, building and piece of personal or public property).”

    Welcome to Amerika, but please keep in mind that the proposed $10B annual spending cut would “lead back to slavery” or “destroys economy” /sarc

  68. Anon E. Moose says:

    Let me break this up into pieces.

    In case you thought the potential for broad-scale mortgage principal write-downs has gone away, sadly not.

    http://www.marginalrevolution.com/marginalrevolution/2010/01/writing-off-the-principal.html

    If this isn’t an attack on the ‘rule of law’, I don’t know what is.

  69. Anon E. Moose says:

    Con’t;

    Unfortunately, one of the people who do think its a good idea has an unusual amount of influence and ability to carry such a plan out.

    http://www.nowpublic.com/tech-biz/fed-chief-suggests-writing-down-principal-instead-taking-loss

  70. Barbara says:

    Anon,
    the entire concept assumes that houses are not overpriced STILL. Of course they are. Who gives a crap about Las Vegas, outside of the strip, its a hell hole with nothing less than 6 hours away by car. Its STILL overpriced. 1999 plus 3% per year. That’s where this bitch needs to be.

  71. Taxed says:

    “Mehmet Ali Livy says:
    March 1, 2011 at 3:34 pm
    Hi; Excellent post for me. Your post has good quality. I wish to has good posts like yours in my blog. How do you write these posts? And you have a problem about your template.You should fix your problem about your template … I recently came across your blog and have been visitingalong. I thought I would leave my first comment. I don’t know what to say except that I have enjoyed reading. Great blog. I will keep reading this site often.Good day…

    Misc ramblings from a Montclair HS honors student perhaps?

  72. Lone Ranger says:

    The 1st of the month and S&P’s down 20? Gotta check the calendar.

  73. Juice Box says:

    re # 79 – margin accounts……leverage is at or above pre-Lehman days.

  74. Juice Box says:

    gotta love the Russians it is like the 80s all over again.

    “A top U.S. military official cautioned that imposing a no-fly zone over Libya would require first crippling that country’s air defenses, including surface-to-air missiles and the Libyan air force.”

    “top Russian diplomats ruled out the idea of establishing a no-fly zone over Libya”

  75. Lone Ranger says:

    Juice,

    Yes.

    I was only making reference to the 1st of the month. HMMM?

    http://www.cnbc.com/id/41390531/First_Day_Still_the_Best_Day_to_Trade_the_S_P_500

  76. chicagofinance says:

    Michael Lewis is being sued over his book The Big Short.

    Wing Chau, the CDO manager who is bringing suit, claims he’s portrayed as one of the books ‘villains’.

    According to Bloomberg , Chau claims the book depicts him as “someone who ignored his professional responsibilities, made misrepresentations to investors, charged money for work that was not performed, had no stake in the CDOs he managed, was incompetent or reckless in carrying out his responsibilities, and violated his fiduciary duties by putting the interests of ‘Wall Street bond trading desks’ above those of his investors.”

    Perhaps Chau should have considered filing the suit as a massive class action—because his claims sound a lot like what just about everyone on the political left has been saying about the entire financial services sector since early 2008.

  77. Nation of Wussies HEHEHE says:

    80,

    Chi truth is a complete defense to slander.

  78. Shore Guy says:

    John,

    I think you are right about folks in the stands not understanding the size and speed of ballplayers. What is also interesting is being on the field during a game in a large stadium.

  79. Shore Guy says:

    NJC,

    Give my regards to my favorite restaurants on St. Thomas.

  80. gary says:

    Paid 849,000 in 2005, now chasing the market down in classic style. The current price is at $749,000. I’ll be right back… need to go get a hankie so I could shed a tear. Not.

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  81. SoccerDad (aka DeepThroat) says:

    I wish Elizabeth Warren would run for President. Give Uncle Tom and whatever corporate lackey the Republicans throw up the boot!

  82. chicagofinance says:

    How about a Fresca?

    FREEHOLD TOWNSHIP — The wife of Colts Neck Mayor James C. Schatzle is facing shoplifting charges after attempting to leave the Lord & Taylor store at Freehold Raceway Mall with an estimated $1,300 in stolen goods, police said.

    Susan P. Schatzle, 42, of Locust Place in Colts Neck, was arrested at roughly 12:10 p.m. Friday after in-store security personnel spotted Schatzle attempting to walk out of the store without paying for the merchandise, according to police.

    The merchandise was valued at a total of $1,305 and included several purses and wallets, police Capt. James Lasky said.

    Schatzle was arrested by Officer Scott DeLuca, transported to Freehold Township police headquarters, processed and released on a summons, Lasky said.

    Schatzle was scheduled to appear before Freehold Township Municipal Court Judge Thomas F.X. Foley Tuesday morning, but the case has been transferred to the Monmouth County Prosecutor’s Office, court administrative assistant Jenny Zea said.

    The Colts Neck mayor released a statement when reached by email Tuesday evening:

    “I love and support my wife. My family is most dear to me. This is a difficult time for Susan. We thank our friends for their continued support.”

  83. Fabius Maximus says:

    Another atack by CC on the independence of the Judiciary.

    Ex-counsel for N.J. public employee relations group says he was fired for being an ‘obstacle’ to Christie’s plans
    http://www.nj.com/news/index.ssf/2011/03/ex-counsel_for_nj_public_emplo.html

    Can I award CCs choice for the chair of PERC the GWB/Michael Brown award for best qualified candidate for the job.
    “Hatfield, who worked on Christie’s gubernatorial campaign, holds a Ph.D in microbiology but has no background in labor or law. Hatfield said her involvement with negotiations while on the Summit town council and school board made her want to be involved in the “great opportunity” at PERC.”

  84. Comrade Nom Deplume says:

    [89] pgc

    Attack on the Judiciary? Huh?

    I read the article to try to discern where you are coming from, and I cannot.

    In fact, having obtained two law degrees, and clerked for two federal court judges, I think I can safely say with some authority that the article doesn’t discuss the judiciary at all. I read it and I can discern no dealings, let alone an attack, on the judiciary. At best, you can point to the governor exercising power over a board with quasi-judicial powers, but you have not identified any abuse of said power (except to imply that it is abuse per se when a republican exercises powers delegated to his office).

    I understand you have a partisan viewpoint, but as your new sage, Lawrence O’Donnell says “you aren’t entitled to your own facts.” Unless of course, you can get elected governor and pack the court with appointees that will make “findings of fact” in your favor (and in your world, that would not be an “attack on the judiciary” since you aren’t a republican).

    Thanks for the laugh. Gotta get some ZZZs now.

  85. Comrade Nom Deplume says:

    [72] moose

    We’ll know in a couple of years, when the banks start petitioning the Fed for extensions on the 5 year maximum holding period for OREO.

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