Mixed bag for Jersey prices

From the APP:

Home prices rise in half of U.S. cities, fall in NJ

Prices for single-family homes climbed in half of U.S. cities in the first quarter as real estate markets stabilized. But in the region that includes Monmouth and Ocean counties, they fell 3.6 percent.

The median sales price increased from a year earlier in 74 of 146 metropolitan areas measured, the National Association of Realtors said in a report Wednesday. In the fourth quarter, only 29 areas had gains.

The U.S. housing market is showing signs of bottoming as improving employment and record-low mortgage rates boost demand while inventories of available properties tighten. At the end of March, 2.37 million previously owned homes were available for sale, 22 percent fewer than a year earlier, the Realtors said.

“The housing market is still depressed but it had a good quarter,” Patrick Newport, an economist at IHS Global Insight in Lexington, Mass., said in a telephone interview Wednesday. “We’re on the mend but it’s still something that will take two or three years before we’re back to normal.”

The national median existing single-family home price was $158,100 in the first quarter, down 0.4 percent from the first three months of 2011, according to the Realtors group.

In the Edison market, which includes Monmouth, Ocean, Middlesex and Somerset counties, the median was $292,400, down from $303,200 in the same period a year ago.

Similar tales were found in other New Jersey markets. Parts of northern New Jersey sell 3.2 percent to $363,800, and the newark-Union area fell 9.6 percent to $326,000. The Camden region fell 2.8 percent to $193,500 and the Trenton region fell 6 percent to $205,500. The Atlantic City region saw the only increase in the state, rising 3.7 percent to $220,600.

This entry was posted in Employment, Housing Recovery, New Jersey Real Estate. Bookmark the permalink.

144 Responses to Mixed bag for Jersey prices

  1. Shore Guy says:

    Mixed bag? It is a great time to buy!

  2. Shore Guy says:

    From last thread: “whatever happened to Kettle1?”

    He is alive and well and monitoring the degrading conditions at Fukushima — which should be coming to a breathless talking head at a cable news station near you before long.

  3. Shore Guy says:

    Grim,

    To what extent is the increase in Atlantic Co. a function of rising prices at all price levels and to what extent is it either 1) an increase at the top or 2) people not buying at the bottom?

  4. chicagofinance says:

    The End Is Nigh (Clot Nihilism Edition):

    WSJ Opinion
    OPINION EUROPE
    Updated May 9, 2012, 9:20 a.m. ET

    What the Greek Left Wants

    Syriza doesn’t just oppose austerity, but reform itself..

    By TAKIS MICHAS

    Sunday’s Greek elections have been widely interpreted as the logical outcome of harsh austerity measures imposed on Greece by its foreign creditors. According to this view, the Greek bailout, which also mandated sharp cuts in public-sector pensions and pay, led to widespread discontent and fueled the rise of the parties that reject Greece’s international credit agreements.

    But the problem in Greece is more profound than this. While austerity measures did play a part in voter discontent, the most important factor in the outcome of the elections was opposition to any talk of structural reform of the Greek economy.

    The parties that gained in the elections—especially the radical-left Syriza, which ended in second place—do not simply oppose austerity measures. What Syriza opposes is any kind structural reform of the economy that will boost competitiveness. The party has, for example, consistently opposed teachers’ evaluations or other overhauls to the ailing education system. It has vehemently opposed reducing state bureaucracy or reforming the inflexible Greek labor market.

    At the same time, Syriza—which began negotiations yesterday to lead the next government—has remained silent on the need to combat the widespread graft and corruption that characterizes the Greek civil service. Its only prescription for Greece’s economic problem is that the country should refuse to pay its debt, expropriate the rich and staff the bloated public sector with even more people. Its leader, Alexis Tsipras, has suggested hiring 150,000 more people in the civil service as a way of reducing Greek unemployment.

    The Greek left today does not represent an industrial proletariat that wants a bigger share of the economic pie. Syriza represents all the groups that have been able to grow and flourish under Greece’s political system and who now feel threatened by reformed. It derives its support from various professional interest groups—lawyers, teachers, journalists and civil servants—who feel that their jobs and special privileges are at risk if Greece is forced to open up its economy to competition.

    At the same time, the EU’s hesitant reaction to what has been happening in Greece played a considerable role in the outcome of the elections. Mr. Tsipras argued throughout the campaign that even if Greece refuses the bailout plan and reneges on its agreements with creditors, this will have no adverse consequences for the country. Germany, he believes, will be unwilling to push for a Greek euro-exit or a suspension of the bailout payments, as this would hurt Germany’s economy and banks. In other words, according to the Greek left, Europe’s taxpayers will happily continue funding Greek deficits come what may. Thus the party can continue indefinitely, if only Greece has the nerve to call Europe’s bluff.

    Perhaps afraid of producing a self-fulfilling prophecy, the rest of the EU—and especially Germany—has been unable or unwilling to articulate a concrete and credible account of what will follow if Greece refuses to undertake the reforms it has promised. Had Brussels stated clearly that a Greek refusal to comply with the agreements Athens has signed will mean an immediate exit not only from the euro zone, but also from the European, the results of last weekend’s election might have been quite different.

  5. chicagofinance says:

    unmod?

  6. Ten Swamps says:

    Tenafly – The Market Is Hot, Hot, Hot!

    Top of the heap in sizzlin’ Bergen County! Hurry! (Number of sales in April down 75% from last year. Sales volume down 89%. Oops.)

  7. Richard says:

    Is Bergen County worse than Montclair?

  8. chicagofinance says:

    nom:

    STURBRIDGE, Mass. — Boston Red Sox public address announcer Carl Beane, the voice of Fenway Park since 2003, died in a one-car accident in central Massachusetts on Wednesday.

    He was 59.

    The Worcester District Attorney confirmed that Beane died in an accident after his car crossed the double yellow lines and left the road before hitting a tree and a wall. He was pronounced dead at Harrington Hospital in Southbridge a short time later, according to a release from D.A. Joseph D. Early Jr.

    A longtime fixture in the Red Sox media who provided radio reports and gathered sound for broadcasters, including The Associated Press, Beane landed what he called his dream job when he was hired to announce the lineups and other information at Fenway Park in 2003. The next year, he announced the home games of the World Series when the Red Sox won the championship to end an 86-year title drought.

    With his voice familiar throughout New England to the millions of fans who filled Fenway each year, Beane was also hired to work as a master of ceremonies, narrate commercials and announce wedding parties. According to a 2008 interview with Boston Magazine, grooms would tell Beane they were more nervous to meet him and try on his World Series ring than they were when reciting their vows.

    “When I get that instant response, a feeling washes over me like, ‘This is where I should be,’” Beane told the magazine. “This is what I know I was put on Earth to do.”

    The Red Sox, who had a game against the Royals in Kansas City on Wednesday night, did not immediately respond to a request for reaction. The team is scheduled to play at Fenway Park on Thursday night against the Cleveland Indians.

    Born and raised in Agawam, Beane graduated from the Career Academy School of Broadcasting in 1972 and soon after got his first job broadcasting sports. He has provided updates and sound for news outlets, including the AP, ESPN and Sirius Satellite Radio. He also taught sports broadcasting and play-by-play classes at the Connecticut School of Broadcasting.

    According to his website, his voice can be heard in “The Baseball Experience” at the National Baseball Hall of Fame in Cooperstown, N.Y.

    Beane has also served as a spokesman for the American Diabetes Association and a narrator for Talking Books at the Perkins School for the Blind.

  9. chicagofinance says:

    unmod? now what? :(

  10. Richard says:

    I meant in Bergen the taxes seem even higher than Essex, is there any benefit? Maybe the finances are better but I doubt it, but dont know where to look.

  11. The Original NJ ExPat says:

    Bergen has many, many, blue-ribbony towns. Essex, not so much.
    Essex has many, many black-ribbony towns and cities. Bergen, not so much.

    I meant in Bergen the taxes seem even higher than Essex, is there any benefit? Maybe the finances are better but I doubt it, but dont know where to look.

  12. Confused in NJ says:

    The sad part about the Greek drama is, things have become so bad for the average Greek, it is difficult to see how changing direction could hurt them further. All the propping up seems to benefit the rich.

  13. The Original NJ ExPat says:

    JJ – Your spank bank fave from the previous thread – the picture is tagged transvest1te, so I was assuming it’s from your personal collection, no?

  14. Mike says:

    Good Morning New Jersey

  15. cobbler says:

    Mike – have you moved to Iceland [time zone]?

  16. Comrade Nom Deplume says:

    [8] chifi

    Sad, very sad. The part of the state where he crashed is very hilly. Lots of curves, hills and dips on those single lane roads. Unfortunately, a very unforgiving layout.

  17. Comrade Nom Deplume says:

    Was reading some of my extremely liberal friends on my FB page going nuts over the NC vote. One actually advocates Obama sending in the tanks to stop NC from banning gay marriage, much like JFK did for segregation.

    What he (nonlawyer) didn’t understand was that the troops under JFK were enforcing court orders. There is no federal law countering NC. In fact, just the opposite.

  18. Fabius Maximus says:

    #4 Chi

    Its sad to see journalistic standards at the WSJ slip so badly. What this right wing hack piece misses is that the rejection of austerity measures is not “opposition to any talk of structural reform “, its a more simplicitic issue.

    People in Greece, Ireland, Spain, Portugal etc are saying that the misry of austerity measures are being unfairly shouldered by the people. Why should they feel all the hurt just so the banks can be bailed out. They might as well hit the reset button as it can’t be any worse.

    If you want a real read on Greece and the rest of Europe, try the Economist of the FT.

  19. The Original NJ ExPat says:

    [8] chifi, Beane – I heard the news this evening on WEEI while driving my daughter to Soccer. They reported it as a “single car accident in Sturbridge”, I just assumed it was on the highway, maybe a cardiac event. They also mentioned that Beane had become close with Bob Sheppard and would give Red Sox personnel updates on Sheppard’s health status in the interim between his stopping announcing Yankees games and his eventual demise. They also said he was the manager of the Boston team in the two annual games played between Red Sox and Yankees press. Never heard of that before, does anyone know if they play one game at Fenway and one in the Bronx and since it’s all media do they have a media blackout agreement to save themselves from the embarassing pics or footage of their on field antics?

  20. The Original NJ ExPat says:

    Nom – [17] NC vote & the feds – Here’s an interesting twist in a blue state. Our new health plan here in Boston (see last thread) is a self funded plan from our acquiring overlords (publicly traded international company HQ’d in another state). ERISA, yada-yada-yada, their plan is apparently exempt from State laws? They kind of tip-toe around the verbiage, but it looks to a layman like me that they only recognize Federal definitions of marriage. Haven’t heard any flak about it yet, but it looks like it might affect the status of some of our employees loved ones.

  21. Shore Guy says:

    “blue-ribbony towns”

    What is such a big deal about a town where Pabst is the beer of choice?

  22. The Original NJ ExPat says:

    [21] Shore, Pabst – One of our local liquor stores has this little tub of maybe 4 pens to choose from to sign your charge receipt. There is a Pabst Blue Ribbon pen there that is perfectly fat, padded, and writes so well and effortlessly that I’ll probably steal it or buy it very soon. Feels better than a Waterman or Mont Blanc in my hand. I would love to have it to hand to counter-parties when signing a deal.

    What is such a big deal about a town where Pabst is the beer of choice?

  23. The only deals worth signing are the ones you sign in blood.

  24. The Original NJ ExPat says:

    Yours or assignees?

    The only deals worth signing are the ones you sign in blood.

  25. LoveNJ says:

    Become a landlord again. Positive cash flow.
    Last time we sold our rentals was in 2006, when we pretty much paid rentors to be in our houses. So we sold them and waited till now. Housing price is becoming more reasonable now and rent is going up. Rental return is much better than CDs, even after paying taxes, we are still ahead.
    Do not try to time the market, our simple rule is that we do not pay renters to stay in our houses. If that is the case, something is wrong.

  26. NWNJHighlander says:

    The Original NJ ExPat (#20)

    If it is self funded ERISA health benefits plan, then yes, in NJ it is only regulated by Federal laws and regulations.

    I used to work for a NJ/NY/CT ERISA health benefits plan administrator, where we were unlucky enough to be made the test case over the NJ state vs Fed regulation of health care mandates. The NJ State Dept of Insurance and Banking lost the case.

    Then NY State pursued the exact same case. And forced a settlement, though still not regulated by the State, the State had “advisory” oversight, which is still ongoing.

    In real life terms, the ERISA plans are al a carte for your new employer, your yearly explanation of benefits will list each benefit, and it’s up to you to call the designated health benefits administrator inside your company for a further explanation of benefits, where that person will then refer you to the carrier’s medium/large group administration office, where they can give you the actual answer regarding your benefits for any particular ailment/treatment/etc.

  27. zieba says:

    For Meat (and Xanadu!):

    http://mashable.com/2012/03/24/zombie-apocalypse/

    If “blood soaked survival horror” isn’t your idea of a great vacation, stay away from an empty mall in Reading, U.K. where tourists can experience an interactive zombie attack. Zed Events has created a terrifying zombie experience where anyone can battle zombies for four hours for the fee of just $189.

    First, 15 fighters are equipped with Airsoft guns and trained on zombie combat. Then they are let loose into adrenaline-inducing horror. There are two parts of the battle: the first involves running for your life from droves of zombies and the second involves video-game like scenarios where you carry out a mission. The story unfolds as players battle zombies– meaning every move could be your last.

    “This will not just [be] about shooting zombies, ammunition will be severely limited with only a few opportunities to get more,” notes the website. “As a survivor you will need nerves of steel, speed and brain power if you are to fight your way through the zombie horde to safety.”

    The zombie fight is inspired by movies like Dawn of the Dead, and video games such as Resident Evil.

    The 250,000 square foot mall in Reading is about 30 minutes outside of London. Anyone interested in playing this apocalyptic game has until this summer to get in on the zombie action, after which the mall may be demolished. No word on what, if anything, this zombie battle is promoting, but one thing is for sure — people love being scared by zombies.

  28. grim says:

    From the Record:

    Home prices in region down 6.3 percent, National Association of Realtors says

    Home prices slid 6.3 percent in the New York metropolitan area, including North Jersey, in the first quarter, the National Association of Realtors said Wednesday.

    The median price for an existing single-family home was $411,700 in the region, which includes Westchester and New York City, the NAR said. The market remains one of the most expensive in the nation.

    “Prices are definitely under a lot of pressure still,” said David Hsu of Abbott and Caserta Realtors in Ho-Ho-Kus. He said he sold a property on Valley Road in River Edge for $440,000 in the first quarter; a similar property on the same block sold last year for $485,000

    “Buyers are savvy and know the market and what a home is worth and don’t want to overpay,” said Allison Witkowski, a Re/Max agent in Saddle River. She said she recently reduced the asking price on a Mahwah town home from $299,000 to $275,000 to attract buyers’ interest.

    Nationally, home prices were basically flat, down 0.4 percent to a median $158,100. As prices and interest rates have fallen, homes have become more affordable nationwide; nationally, the median-income household has more than enough income to afford the median-priced house.

    But in this region, the median-income household still has only about 64 percent of the income needed to buy the median-priced house, according to the Realtors’ data.

    Prices both nationally and in the region have been pushed down by lower demand, the result of high unemployment, tight mortgage standards, and a large number of distressed properties on the market.

    Keith Lawrence, a Re/Max agent in Mahwah, said that most sellers “have accepted the market’s current condition” and price their homes in line with recent sales.

  29. grim says:

    Corelogic on NJ prices in March, YOY HPI down 1.5%

    MarketPulse March 2012

  30. Mikeinwaiting says:

    “Home prices slid 6.3 percent in the New York metropolitan area, including North Jersey, in the first quarter, the National Association of Realtors said Wednesday.”

    Nothing like trying to catch a falling knife.

  31. Xanadu and Zombie Battles: Perfect Together

  32. I’d like to apply for one of the zombie jobs at Xanadu.

  33. Shore Guy says:
  34. Shore Guy says:

    Maybe we need a mobility tax.

  35. Mikeinwaiting says:

    Yes this is going to work out well.

    “Greece’s unemployment rose to 21.7% in February from 21.3% previously. Youth unemployment jumped to a record 54%. Just 3.87M citizens are employed out of a population of 11.4M. Industrial production shrank 8.5% in March vs. 8.3% the previous month. “

  36. Mikeinwaiting says:

    I like this one: Greece doesn’t have a spending problem they have a working problem, very few do it.
    Or think of it this way we have more unemployed people than they have working by a wide margin. Not so good either.

  37. sex date says:

    Another great website about this stuff you can find over here !!! Let me know what you think about sexdate this site and i’ll subscribe to your blog!

  38. Shore Guy says:

    It us time that those 3.87 million workers paid their fair share.

  39. Real Estate Date says:

    Ready for a hot time? Looking to sink your assets into a hot, hot deal, which will make your assets grow larger than your neighbors? C’mon and let me wisper something hot into your ear . It is a great time to buy a house.

  40. Shore Guy says:

    Asset enlargement, something John better nother do or he will not be able to fit in an elevator.

  41. Mikeinwaiting says:

    Shore 38 the numbers just do not work and how many are gov employed. They can not support the rest.

  42. JJ says:

    A house is an insane “investment” in a way. Ret T or Margin as it is know in equities generally lets you only borrow up to 50% of the value of the stock as it is deemed far to risky to borrow more than half your principal as swings in equities prices could force a margin call and make you sell at low prices.

    Meanwhile people bought homes at 3% down. A small 3% swing put you under water and the mortgage which is really “margin interest” trapped you in a house that produced no dividends and was illiquid.

    A home, is like a car, gift card, time share, PSL, etc. Sure it still has value but as an investment unless you buy under the “three d’ rules, divorce, dispair or death. you already overpaid. Finally, Front loaded mutual funds are being phased out as SEC calls them basically fraud. Buying a 100K stock fund with a 5% fee means you only invested 95K which puts you behind the 8 Ball. Meanwhile realtors charge a 6% fee. So when you buy a 500K on day one it is only worth 464K. It has to rise in value 36K just for you to break even.

    Now comparing a CD to a home is insane. A CD is a short term risk free investment. A home is a long term illiquid investment. A home should be compared to a long term Junk Bond. As it has equal duration and risk.
    Shore Guy says:
    May 10, 2012 at 8:04 am

    Asset enlargement, something John better nother do or he will not be able to fit in an elevator.

  43. Mikeinwaiting says:

    8:31 AM Initial Jobless Claims: 367K vs. 366K consensus (prior week revised to 368K from 365K). Continuing claims -61K to 3.22M

  44. gary says:

    Home prices slid 6.3 percent in the New York metropolitan area, including North Jersey, in the first quarter, the National Association of Realtors said Wednesday.

    In this region, the median-income household still has only about 64 percent of the income needed to buy the median-priced house, according to the Realtors’ data.

    Prices in the region have been pushed down by lower demand, the result of high unemployment, tight mortgage standards, and a large number of distressed properties on the market.

    Tick… tick… tick… tick…

  45. 3b says:

    #44 gary:
    Prices in the region have been pushed down by lower demand, the result of high unemployment, tight mortgage standards, and a large number of distressed properties on the market, and jokishly high property taxes.

  46. Juice Box says:

    re: “6.3 percent in the New York metropolitan area”

    So is the NAR’s message here still Hurry up and buy now?

  47. chicagofinance says:

    It is an opinion piece…….can you possibly be more closed minded?

    Fabius Maximus says:
    May 9, 2012 at 11:36 pm
    #4 Chi

    Its sad to see journalistic standards at the WSJ slip so badly. What this right wing hack piece misses is that the rejection of austerity measures is not “opposition to any talk of structural reform “, its a more simplicitic issue.

    People in Greece, Ireland, Spain, Portugal etc are saying that the misry of austerity measures are being unfairly shouldered by the people. Why should they feel all the hurt just so the banks can be bailed out. They might as well hit the reset button as it can’t be any worse. If you want a real read on Greece and the rest of Europe, try the Economist of the FT

  48. JJ says:

    You mean the people of greece, italy and spain who borrowed money from banks and did not pay it back which caused all the bank problems are upset as they may have services cut back. Seriously.How, about they become test pilots for new russian planes or something if they need money, I hear that pays well.

  49. gary says:

    3B [45],

    I’m smelling some blood in the water. I do see signs of substantial capitulation. There’s a few home with “5” tags that I estimate would’ve had “7” tags attached to them 5 years ago. Let it burn.

  50. JJ says:

    The guy who coined the phrase Burn Baby Burn went BK>
    gary says:
    May 10, 2012 at 9:31 am

    3B [45],

    I’m smelling some blood in the water. I do see signs of substantial capitulation. There’s a few home with “5″ tags that I estimate would’ve had “7″ tags attached to them 5 years ago. Let it burn.

  51. Libtard in Union says:

    I wonder how that chick who was selling cakes out of her home to avoid foreclosure is doing?

  52. joyce says:

    Yes, they borrowed too much and can’t pay it back. There standard of living will decline and it should, temporarily, until and if they work hard to bring it back up.

    Does the lender(s) have no responsibility in determining who is a good/bad loan candidate? The lenders were reckless too, and they should eat it… but we can’t have that now can we… the bondholders must always make a profit; no more losses allowed for them for eternity.

    (insert stupid comeback)

    48.JJ says:
    May 10, 2012 at 9:27 am
    You mean the people of greece, italy and spain who borrowed money from banks and did not pay it back which caused all the bank problems are upset as they may have services cut back. Seriously.How, about they become test pilots for new russian planes or something if they need money, I hear that pays well.

  53. gary says:

    joyce [52],

    Everyone is entitled to a pony. :)

  54. joyce says:

    (53)
    Gary,
    You’re absolutely correct. It just seems to me the “lender” or TBTF is getting most of the ponies and yet we focus most of our attention on the scraps sent to the lowly serfs. Make no mistake, the article you posted the other day about BofA cutting $150K from each of several people’s mortgages pisses me off beyond belief. I want to cut the welfare from everyone… big and small alike.

  55. Pete says:

    Stu,

    Did you see that 162 Midland ended up closing for $490? Sometimes its nice to lose, eh

  56. DIM Report says:

    I would like to praise the creator of this blog for his work! Great posts, cute design and frequent updates! Keep up the good work!

  57. JJ says:

    The Greeks are getting Ponies and in a few weeks boy with those Ponies butts hurt.
    gary says:
    May 10, 2012 at 10:23 am
    joyce [52],

    Everyone is entitled to a pony. :)

  58. Shore Guy says:

    Praise the creator!

  59. gary says:

    joyce [55],

    I would settle for any scraps at all, at this point. I’m not sure who even represents me any longer. Why do we vote? The weakest and poorest are promised a safety net, the large corps get a free ride and we fund it all.

  60. Shore Guy says:

    Before heading off to the salt mines, here is the answer:

    http://ewmusicmix.files.wordpress.com/2010/02/sharona.jpg

  61. JJ says:

    You always have me Gary.

    gary says:
    May 10, 2012 at 10:44 am
    joyce [55],

    I would settle for any scraps at all, at this point. I’m not sure who even represents me any longer. Why do we vote? The weakest and poorest are promised a safety net, the large corps get a free ride and we fund it all.

  62. Libtard in Union says:

    Pete (Midland):

    Gator wrote up a brief explanation of the losses they suffered by not selling it to us a few years ago. Once again, it was a blessing in disguise. Our new home is significantly better and was almost 100K cheaper.

  63. joyce says:

    gary,

    I share your sentiment that no one is or will represent us. So considering (at the Federal level) neither the blue nor red team will even talk about the real problems, all I hope for is a quick nasty reset in which I come out not dead or broke.

  64. joyce says:

    and they won’t talk about it at the state level (or local level with Montclair as a prime example) so we’re completely screwed

  65. JJ says:

    http://www.bloomberg.com/news/2012-05-10/investors-love-puerto-rico-while-pension-bomb-ticks-muni-credit.html

    chif new article talking about PR Pension bomb, bet reporter was at that conference you went to.

  66. gary says:

    And why is same se.x marriage at the forefront of the discussion when deficits, unemployment, jobs and growth not even on the radar? We’ll be broke, homeless, eating spaghettios out of a rusty can, with cardboard boxes over our heads, but at least the same se.x issue will be resolved. Call me f*cking stup1d but my gut feeling tells me the majority of Americans can give a sh1t what two people do behind closed doors; they’d rather have a decent paying job with MAYBE a benefits package they can at LEAST split with their employer.

  67. gary says:

    What’s the chances we see another Civil War in this country in our lifetime?

  68. seif says:

    joyce – can you elaborate on this? “all I hope for is a quick nasty reset.”

    what do you have in mind as far as a reset?

  69. The Original NJ Expat says:

    LOL – The story lead is “Obama Embraces Gay Marriage” and the picture is Obama and Corzine holding hands:

    http://www.zerohedge.com/news/guest-post-obama-embraces-gay-marriage

  70. The Original NJ Expat says:

    It just came to me. Obama will shutter Gitmo right before the election. Or is that too panderific to work?

  71. seif says:

    Bob Kraft was also very happy about the decision:

    http://29.media.tumblr.com/tumblr_lowqsrGa0M1qaepjeo1_500.jpg

  72. JJ says:

    Michelle Obama has Man Hands so Barrack is pretty comfortable with the same sex thing.

  73. The Original NJ Expat says:

    NWNJHighlander [26] ERISA, self-funded – Thanks for the info. I live in Boston, but I imagine the same rules apply. I had an acquaintance at work who was gay and recently married her partner. She took another job and quit a couple months back, even left her bonus on the table. I wonder if she had already found out about our new overlords’ bent against gay marriage.

  74. Anon E. Moose says:

    gary [68];

    why is same se.x marriage at the forefront of the discussion when deficits, unemployment, jobs and growth not even on the radar?

    Because that’s exacly the way that Obama & Axelrod want it. It’s the “Shiny Object” strategy — whatever it takes to demoralize the electorate and distract them from voting out of office the administration that brought this failure upon the country.

  75. Shore Guy says:

    Moose,

    You mean like this?

    http://www.youtube.com/watch?v=vod9DL4IhBM

  76. Painhrtz - I ain't dead yet says:

    Gary you should see the gay friends of my wife and I going to into convulsions of adulation for the anoited one. It is hysterically sickening that folks can have the wool pulled over their eyes but I saw the same BS with compasionate conservatism of Bush the Lesser. Identity and shiny object politics are immensely more important to the cafeteria citizens who would rather be treated like children then actual adults. Why face any hard decisions when it is much easier to handle the stupid ones.

  77. The Original NJ Expat says:

    I just looked up a warehouse in East Orange that is owned by someone I know. Single story brick, built in 1954, used to have big windows at one time, now they are bricked up for security and there is ringed barb wire on the roof. Houses on the same block go for about $110K, so that should tell you about the neighborhood. He paid $2.3 million for it in July 2007, the taxes are $85K per year. New Jersey and you, perfect together!

  78. joyce says:

    (70)
    seif

    Stop directly propping up TBTF, car companies, etc. through bailouts. Stop indirectly propping them up via the FED. Stop directly propping up individuals through inefficient and ineffective refinance programs (which indirectly again props up the large banks). In other words, let the defaults happen. Purge the bad debt from the system. Write if off and restructure individuals/companies that go bankrupt.

    Prices for assets and consumer prices would plunge until they reach equilibrium. Some would fall to 0. Others (food & energy) would fall when the excess credit is removed but they would quickly reach equilibrium because we use those the most.

    [If you could couple that would monetary, fiscal, and legal reforms… it would be that much better]

  79. Mikeinwaiting says:

    This should be interesting political Kabuki Theater.
    “Thursday, May 10, 11:56 AM Governor Brown’s administration in California has notified state employee union leaders of its intent to cut payroll costs by at least 5% as a hoped-for $9.2B budget deficit looks to be considerably higher. Brown has the authority for layoffs, but not to adjust pay and benefits, which have been targeted for years without success.”

  80. Mikeinwaiting says:

    Joyce 80, with you 100%.

  81. seif says:

    80 – got it. agree with you on a lot of it. so what would be the immediate aftermath of such things? what happens to those with the huge debts and those that go bankrupt in the immediate aftermath?

  82. Mikeinwaiting says:

    Now back to the train moving at 140 MPH straight into a brick wall that is our present government( both parties).

  83. Mikeinwaiting says:

    Seif 83 short term very bad long term good, in absence of short term OK long term much much worse than we can even conceptualize.
    Off to the salt mines folks…………………..

  84. JJ says:

    Joyce you sound like Jaimie Dimon. He would love to foreclose in 48 hours on homes and throw the bums out on the street, ruin their credit record. I agree with him. The banks are being forced to be nice to the deadbeats in the houses. Banks would be more than happy to take a big loss this year, clean house, sell off inventory and go back to making money.

    joyce says:
    May 10, 2012 at 12:18 pm
    (70)
    seif

    Stop directly propping up TBTF, car companies, etc. through bailouts. Stop indirectly propping them up via the FED. Stop directly propping up individuals through inefficient and ineffective refinance programs (which indirectly again props up the large banks). In other words, let the defaults happen. Purge the bad debt from the system. Write if off and restructure individuals/companies that go bankrupt.

  85. joyce says:

    Ok, I shouldn’t but I’ll respond:

    Would Dimon also like to turn back the clock and not receive TARP?
    Would he like an end to ZIRP and the ability to borrow at 0% and lend at 29%?
    Would he like an end to FRL and rehypothecation?
    Would he like to have never had TAF, TALF, Maiden Lane I,II,III, QE I,II…?
    Would he like to be personally prosecuted for fraud?
    Would he like to be personally prosecuted for violations of SOX?
    and on and on

  86. chicagofinance says:

    How about that fat cow psycho with the hot dog truck in Baldwin LI? NJ we sell cakes; in JJ land they sell skin…

    Libtard in Union says:
    May 10, 2012 at 10:09 am
    I wonder how that chick who was selling cakes out of her home to avoid foreclosure is doing?

  87. joyce says:

    83

    seif,
    What do you not agree with?

    And be more specific with your question? If you’re referring to a person with a gigantic mortgage that they cannot pay, then as the lender will take a loss- they should lose the asset/house and go rent something, or move in with friends or family. What’s the big deal?

  88. JJ says:

    She was selling $50 dollar hotdogs that included a free certificate for a roll in the hay.

    Her slogan was “You eat my weiner I will eat your weiner”

  89. young buck says:

    Hey Mike, can you share more details (price, contact info)? Thanks.

    Mike says:
    May 8, 2012 at 2:28 pm
    Brian 115 Do you take your bike down to Daytona for Bike Week? There’s a local carrier in Linden that tranports them down for the bikers at a reasonable rate since he’s hauling quite a few. Good for the bikers that rather fly down.

  90. Painhrtz - I ain't dead yet says:

    Chifi – the first thing I thought of when I saw that story was JJ what his wife was forced to do for money. then realized she would not live up to his standards. She was too good looking : )

  91. gary says:

    20% over-priced on the ask alone. Offer 460K w. a 48 hour kill window:

    http://www.trulia.com/property/3079740301-35-Biscayne-Dr-Ramsey-NJ-07446

  92. gary says:

    3 bed/2 bth and just dropped 50K. That’s a start. When anger turns to tears, they’ll drop it another 50 large:

    http://www.trulia.com/property/3077415520-6-Alida-Pl-Ramsey-NJ-07446

  93. gary says:

    Sold for 1.13 million in 2006, currently asking 899K and sweating their b@lls off:

    http://www.trulia.com/property/1052764104-28-Forest-Ave-Ramsey-NJ-07446

  94. gary says:

    Over $18,000 on the property taxes. Any questions?

    http://www.trulia.com/property/3014763870-11-Mohawk-Dr-Ramsey-NJ-07446

  95. JJ says:

    Painhrtz – I ain’t dead yet says:
    May 10, 2012 at 1:04 pm
    Chifi – the first thing I thought of when I saw that story was JJ what his wife was forced to do for money. then realized she would not live up to his standards. She was too good looking : )

    Why is it when a female realtor who looks likes her screws you out of 30K commission it is legal, but a female who looks like that lets you screw her for fifty bucks it is illegal?.

  96. gary says:

    Sold for 859K in 2008, currently asking 775K, taxes over 18K. Hurry, get your checkbook!!

    http://www.trulia.com/property/1054476358-270-Shadyside-Rd-Ramsey-NJ-07446

  97. Anon E. Moose says:

    Joyce [87];

    JD didn’t want the TARP money and told Obama so; when he did take it he wanted to plow it into a stock buyback; but he didn’t and agreed to play ball and not start a war with Obama.

  98. seif says:

    89 – i meant ‘most of it’ more in reference to not having a full understanding of the immediate aftermath and what it looks likes. obviously there will be short-term pain but i was just trying to get a grasp of the landscape when it all goes down – specifically what kind of pain would be around and who would be bearing the brunt of it.

    i have no issue with over-extended people being told to pay up or move out…and the banks should suffer the consequences as well. borrowers and lenders were both complicit in what went down. if it becomes just another rich-get-richer scheme is that really going to change things around here? the reset will put over-extended borrowers in a pickle but won’t right the wrong of all the folks who were defrauded and manipulated out of their wealth. the banksters are not going to be ‘reset.’

    what would get the ball rolling and who would be bold enough to make that step? is it a pipe dream? and how do you see home prices playing out in regard to such events playing out?

  99. Libtard in Union says:

    Joyce (87):

    You forgot the mark-to-market accounting thang.

  100. Brian says:

    Ooofff. She is rough on the eyes. She should really be paying people to screw her.

    http://i.i.com.com/cnwk.1d/i/tim/2012/05/09/Catherine-Scalia-008_244x183.jpg

    97.JJ says:
    May 10, 2012 at 1:24 pm
    Painhrtz – I ain’t dead yet says:
    May 10, 2012 at 1:04 pm
    Chifi – the first thing I thought of when I saw that story was JJ what his wife was forced to do for money. then realized she would not live up to his standards. She was too good looking : )

    Why is it when a female realtor who looks likes her screws you out of 30K commission it is legal, but a female who looks like that lets you screw her for fifty bucks it is illegal?.

  101. Libtard in Union says:

    Seif…It’s the Band-Aid conundrum. I said since day one, to rip it off quick. But the ruling elite like the extended S&M torture session apparently.

  102. Libtard in Union says:

    ChiFi (88)/ Brian (102):

    “How about that fat cow psycho with the hot dog truck in Baldwin LI? NJ we sell cakes; in JJ land they sell skin…”

    I’d hit that…with some mustard and kraut.

  103. Brian says:

    Thanks Mike. I skipped Daytona this year and not sure I’ll be going down there for a while. I couldn’t convince anybody to babysit a teething six month old baby for a week. I think I’m going to stick to wildwood. It’s only a couple of days and I might ride down and hit AC on the way down.

    A lot of the guys down there bust b@lls if you don’t ride down. There’s a t-shirt you can buy that says “I rode my bike to trailerweek”. I can imagine what they would say if I strolled off well rested from an airplane.

    Mike says:
    May 8, 2012 at 2:28 pm
    Brian 115 Do you take your bike down to Daytona for Bike Week? There’s a local carrier in Linden that tranports them down for the bikers at a reasonable rate since he’s hauling quite a few. Good for the bikers that rather fly down.

  104. seif says:

    98 – Gary

    Take out your f*cking checkbook!:

    http://www.youtube.com/watch?v=T6Oc3WizIRg

  105. gary says:

    seif [106],

    No access here at work, I’ll check it out at home. :)

  106. joyce says:

    99
    Moose

    So Jamie Dimon told then Senator/Candidate Obama he didn’t want TARP?

    100
    Seif

    The majority of the deflation will occur in the paper wealth that is held by the banksters. I want the fraud prosecuted (was meant to be captured in that final sentence regarding reforms); but the original post was just regarding the debt.

    101
    Libtard

    Thank you, of course! The suspension of FASB 157 … pathetic. Don’t worry, these secondary liens are still worth par even though the first mortgage is 40% underwater, and we’ll present those “assets” as collateral to the FED!! genius

  107. Painhrtz - I ain't dead yet says:

    JJ 97 Cause the realtor is licensed

  108. Libtard in Union says:

    Joyce,

    Want to buy a hot dog?

  109. sexdating says:

    Another great website about this niche you can find over here sexdating!!! Let me know what you think about this website and i’ll subscribe to your blog!

  110. Comrade Nom Deplume says:

    [20]

    Hr.com did a webinar today on domestic partner benefits. The deck is still up and has info that covers your issue.

    Bottm line is that self funded plans are exempt from state laws and there is nothing Mass can do. But the plan can offer DP benefits if they want.

  111. Comrade Nom Deplume says:

    [20] ex pat,

    Sorry, should have referenced expat.

    Full disclosure: I practice in this area.

  112. Comrade Nom Deplume says:

    [26] highlander,

    Can I ask which TPA it was?

    If you don’t want to say here, can you tell me at nomdeplumenj@gmail.com?

  113. The Original NJ Expat says:

    112&113 – Thanks Nom. I don’t have a dog in this fight but the whole self-funded deal smacks of moral hazard. The company claims to pay 76% of premiums, but don’t they set the premiums? As I see it, they certainly collect premiums from their employees, but are there any checks,balances or transparency to how they administrate their reserves? The other thing that seems wrong is that I strongly suspect that the “servicer” (Capital Blue Cross) is paying premium credits to the company much the same as a market maker rebates a broker for order flow. I would have thought that Cap BC receives money for administrating the billing but I found at least one other case (a consortium of Berks County, PA school districts) that apparently is receiving payment *from* Cap BC to herd all their health care purchases into Cap BC’s network of doctors and service providers. I guess it’s illegal, but it would also seem there’s a financial incentive to jettison any employee who receives a bad diagnosis that will lead to hefty future costs.

  114. Comrade Nom Deplume says:

    [115] expat,

    Hmmmm. That behavior seems like it is more on the managed care side, and CMS may take a dim view of it, but it is outside of ERISA unless plan assets are at risk. I have generally represnted employers and something like this has never come up.

    As far as self-insured status, it definitely permits running under the radar to a greater degree. Even if you have stop loss coverage, you aren’t subject to state regulation.

  115. gary says:

    All they got from Paulie was protection from other guys looking to rip them off. That’s what it’s all about. That’s what the FBI can never understand – that what Paulie and the organization offer is protection for the kinds of guys who can’t go to the cops. They’re like the police department for wiseguys.

  116. Bystander says:

    Gary #49,

    Careful..you are getting buyers fatigue. Home should never have been 700k. 5 handle may seem cheap but what was the 97 price? No reason a 350k place the should be 200k more now. It is like gas…get used to paying $4 and now $3 seems cheap. Gas was .99 back in 2000 so $3 is still high.

  117. gary says:

    Bystander [118],

    I hear ya but at what point in time does that trend line and/or inflation bring it all back in line? Do I go back to the 90s and compound those prices at 3.5% to find today’s price? I’m estimating and loosely using Case-Shiller and other stuff to give me a bearing. All in all, I’m hear you.

  118. JJ says:

    Homes are at 1895, 1955 and 2001 prices. Homes have not increased in value over last 200 years. Do a trend line of a home purchased in 1895 till today and inflation adjust it and you will see it has had zero appreciation. Homes are a great hedge vs. inflation. In times of high inflation unlike bonds which will depreciate home hold up.

    But over the long term no home in the USA has never gone up in value beyond inflation

  119. JJ says:

    So is the Asian Massage place.

    Painhrtz – I ain’t dead yet says:
    May 10, 2012 at 2:07 pm
    JJ 97 Cause the realtor is licensed

  120. Richard says:

    JJ houses can rise in value faster than inflation if the area attracts more people through immigration or fashion. A townhouse near central park has risen in value much more than inflation since 1895, while a suburban house in Detroit has done the opposite (since the 50s at least).

    The question is is N NJ a place that will be in demand in 50 years or is it going to join the rustbelt?

  121. Bystander says:

    Gary,

    I have a xsheet with annual historical inflation. I put in $350k for ’97 and it says home is worth $486k today. It is finger in air but most home swellers/realtwh*res have thumbs in their rears so it works for me. I guess you could depreciate any recent upgrades if you feel nice.

  122. The Original NJ Expat says:

    116 – Nom – This article is all I’ve read about these “premium credits”. It’s a short article, but don’t miss the last few lines which I’ve copied below.

    http://readingeagle.com/article.aspx?id=366053

    Eaken said the trust has been able to create a significant reserve through two injections of cash.

    First, the trust will receive more than $1.3 million in federal reimbursements for early retirees.

    The trust also will receive premium credits from Capital Blue Cross as a token of good will for the trust’s staying in Capital’s network. The trust will be able to translate the credits into more money for its reserve fund. Eaken declined to discuss the value of the credits.

  123. gary says:

    Bystander [124],

    That works for me! :)

  124. JJ says:

    Richard I disagree. Short term yes. Long term no. Just for fun that the purchase price of Manhattan from the Indians and Inflation adjust it to the current land value of Manhattan. I saw a chart of that recently, guess what inflation adjusted the return on investment is zero.

    For example back in 1991 I saw a townhome for sale on 27 street between third and lex that was a single family owner occupied house. It sold for 600K. That house has appreciated greatly from 1991 to 2011. But fact of matter is house on that block appreciated very little from the 1600s to 1991. And may appreciate very little from 2011 and forward. Funny think about housing is we have moments of outperformance but over time it reverts to mean. Stocks on other hand also swing in price. But Stocks consistently over time return a profit, meaning the rise in value great than inflation. You have no wealth creation unless your money is growing not just keeping up with inflation. I like housing dont get me wrong. But we often hear about folks who bought a home in 1982 for like 40k and it is now worth 400K and go wow!, but remember in 1982 Treasury bonds were yielding 16%, if the person bought a 30 year bond in 1982 and every year got $6,400 interest which they used to buy another 30 year bond and well as reinvesting the interest on the bonds it would be at least two million and provide an income stream for life. Even 40K in stock in 1982 would be 680K today.

  125. gary says:

    Richard [123]

    The question is is N NJ a place that will be in demand in 50 years or is it going to join the rustbelt?

    In 50 years, it’ll all look like Paterson.

  126. The Original NJ Expat says:

    125-Nom – HaHa! Found out how much the premium credits are for the School Districts, $3.5 million for 2012-2013. Pretty nice “token”, huh?

    http://www.governormifflinsd.org/2012-01-09_ConsortiumASO.pdf

  127. JJ says:

    50 years is meaningless. A wrinkle in time. Once I was at a Board Meeting with the Cardinal of New York back in the early 90s and he showed us how the church bought plots of land near every proposed LIRR train stop 180 years ago as he knew within 100 years there would be towns built up there big enough to support large churches and wanted the land cheap, showed us how over 150 years ago when no one lived above 23 street how he they decided to build the massive St. Patrick’s Cathedral up on empty farm land where no one lived cause in 50 years it would be packed. We then asked to see the future plans of the church. He then rolled out the Catholic Churches 1,000 year plan. I got a glimpse into what would be happening in New York in the year 1994 to the year 2094. He said 100 years is meaningless in History, Unless something lasts at least 200 years it is a fad. You need to look at your RE investments on a 1.000 year plan. Actually the Church had amazing documents that listed the prices paid for all properties going way back when, you really get a look into how re is doing. For instance. For instance in 103 prominent citizens who pledged $1,000 each to built st Pats which was finished in 1879. $103,000 today will get you a 200 square foot run down coop on Brooklyn.

    gary says:
    May 10, 2012 at 3:52 pm

    Richard [123]

    The question is is N NJ a place that will be in demand in 50 years or is it going to join the rustbelt?

    In 50 years, it’ll all look like Paterson.

  128. joyce says:

    127

    And if someone bought 30-year bonds in any of the years since ZIRP, what would that do for them?

    Random good and bad dates from the past works both ways.

  129. Anon E. Moose says:

    Lawyer: Feds digging up mobster’s yard in hunt for Gardner paintings

    Apparently, there’s a high-placed official at the FBI who never heard this joke about how the jailed mobster managed to get his father’s tomato garden dug out from his jail cell without lifting a finger or paying a dime.

  130. JJ says:

    Correct. From 2009-2012 buying 30 year treasuries is very bad. But I am comparing homes people bought between the 1970s and 2001 to just buying a plain old 30 year treasury. A home is basically a 30 year commitment and so is a treasury. A 30 year Treasury bought May 2006 would have slaughtered a home bought in 2006.

    Historically anytime long term investment grade bonds are issued with a coupon of 8% or higher you are golden as that is much higher than the 30 year inflation average. Today 30 year bonds at 3% are crazy.

    Back in my finance days you had to compare your rate of return to risk free rate. If I was in Finance in 1982 and you told me in 1982 you wanted to commit to a house as an investment with a 30 year mortgage. I would say risk free rate is 30% as I could just buy a 30 year treasury. You need to prove to me after all costs to buy, sell, maintain house, mortgage interest, property tax and risk adjust it that you are able to safely say you can beat 16% I would say buy the house.

    joyce says:
    May 10, 2012 at 4:14 pm

    127

    And if someone bought 30-year bonds in any of the years since ZIRP, what would that do for them?

    Random good and bad dates from the past works both ways.

  131. JJ says:

    Will Rogers proffered a simple strategy for investing: “Don’t gamble,” he’s said to have advised. “Take all your savings and buy some good stock and hold it till it goes up, then sell it. If it don’t go up, don’t buy it.”

  132. chicagofinance says:

    JPM emergency conf call….

  133. All Hype says:

    JJ:
    Get back to your desk ASAP!!!

    http://www.zerohedge.com/news/jpm-crashing-after-it-convenes-emergency-call-advise-significant-mark-market-losses

    I hope you have a big rainy day fund cause your job may be gone ASAP!

  134. Essex says:

    136. Schaden.

  135. joyce says:

    137
    Pretty sure that was sarcasm.

    Plus, its a zero sum game. For someone to make anything greater than 0, another person has to make less then what they could have.

  136. chicagofinance says:

    Bear this one in mind folks….sorry to get all pretorious on you….good for any neighborhood served by the PATH trains…..

    WSJ
    NY REGION

    Tech Boom Sets Pace

    Study Shows Start-Ups Making Their Mark With Boost in Jobs Across City.
    By JENNIFER MALONEY

    New York has the nation’s fastest-growing tech sector and has surpassed Boston as the No. 2 hub, behind Silicon Valley, for Internet and mobile technologies, according to a report released Wednesday by the Center for an Urban Future.

    The study, funded by the Association for a Better New York and AT&T New York, compiled data on 486 digital start-ups formed in New York between 2007 and 2011 that received angel, venture-capital or other outside funding.

    “New York for a long time has badly needed to diversify its economy to rely less on Wall Street,” said Jonathan Bowles, executive director of the Center for Urban Future and co-author of the report. “Tech is providing such a boost for New York…It’s attracting capital from outside the city. It’s luring incredibly smart people to New York that otherwise would have stayed in Silicon Valley or Boston.”

    Of the seven leading technology centers in the U.S., New York was the only one to see an increase in venture-capital deals, which are predominantly, though not exclusively, with tech companies, according to the analysis. Nationally, there was an 11% decline in venture-capital deals.

    In the last five years, information-technology jobs in the city have increased by 29% to 52,900 from 41,100, according to the center’s analysis.

    The report gives substance to what tech-sector observers say they have been seeing over the past few years: an explosion of tech start-ups in Manhattan neighborhoods such as the Flatiron District, Hudson Square and SoHo, and more recently in Dumbo in Brooklyn.

    “When I walk around Dumbo, you see a lot of web designers and engineers talking about building websites,” said Chad Dickerson, CEO of Etsy, which was founded in Brooklyn in 2005. “It definitely has the feel of a burgeoning tech sector.”

    Mr. Dickerson said he moved to New York in 2008 after working for a decade in Silicon Valley.

    His career path mirrors a shift of more than a dozen established tech start-ups, which have moved to New York in recent years from the San Francisco Bay area, Boston and other places, according to the report.

    New York is drawing tech companies in part because much of the innovation happening now is connected to industries that are centered in New York: advertising, fashion, financial services and media.

    “The technology world needs expertise that it hasn’t needed in the past,” said Seth Pinsky, president of the New York City Economic Development Corp.

    Another big draw: Google’s 2010 purchase of a former freight warehouse in Chelsea. The company’s move signaled the tech world was taking New York seriously and has acted as a magnet, pulling other digital companies to the city.

    The 10 New York tech start-ups that received more than $50 million in funding between 2007 and 2011 include Gilt Groupe, an online designer fashion sales company; ZocDoc, a platform for finding and booking appointments with doctors; Tumblr; and Foursquare.

    The city’s support services also have grown to accommodate start-ups.

    The city now has more than a dozen incubators and co-working spaces, up from just a few in 2009.

    Still, challenges remain for the future growth of the sector. Tech companies have cited a lack of engineers and the need for better broadband infrastructure, said Bill Rudin, chairman of the Association for a Better New York.

    The planned Cornell University-Technion Applied Sciences Campus, coming to Roosevelt Island, should help, he said.

    Mr. Pinsky said the city is working on improving broadband infrastructure and creating even more incubator space for start-ups.

    The demand for real estate in downtown neighborhoods by tech companies and others attracted by the “cool factor” of start-ups has led to plummeting vacancy rates in SoHo, Herald Square, the Flatiron District and Chelsea, said Ken Fishel, president of president of Legacy Real Estate, a commercial real estate company.

    “It’s a tectonic shift in which the center of Manhattan has, from a commercial standpoint, moved south and west,” he said.

  137. chicagofinance says:

    ““It’s a tectonic shift in which the center of Manhattan has, from a commercial standpoint, moved south and west,” he said.”

    Meaning ground zero is Google’s NYC headquarters and everything fans out from there…..

    They quote these neighborhoods
    SoHo, Herald Square, the Flatiron District and Chelsea…and these are all Jersey-centric in terms of commuting……

  138. Shore Guy says:

    Whoops:

    JPMorgan Chase, the largest bank in the United States, said Thursday that it lost $2 billion in the past six weeks in a trading portfolio designed to hedge against risks the company takes with its own money.

    snip

    “The portfolio has proved to be riskier, more volatile and less effective as an economic hedge than we thought,” CEO Jamie Dimon told reporters. “There were many errors, sloppiness and bad judgment.”
    snip

    http://www.google.com/hostednews/ap/article/ALeqM5igaguPc4OUpN_a9Ty2Yx_ickLV0A?docId=05e81db86f364a5f81440b8bf7b2e366

  139. Anon E. Moose says:

    Re: [142];

    *FACEPALM*

    Looks like I backed the wrong horse today.

  140. Simply, admirable what you have done here. It is pleasing to look you express from the heart and your clarity on this significant content can be easily looked.

Comments are closed.