NY Metro prices continue to show year over year losses

From the Record:

Home prices down 3.8 percent in region

Despite indications that the national real estate market may be stabilizing, the region’s home prices continue to slide, the Standard & Poor’s/Case-Shiller index said Tuesday. Home values in the New York metropolitan area, including North Jersey, dropped 3.8 percent from April 2011 to April 2012, according to the index.

Nationally, home prices declined 1.9 percent in that period. However, prices increased 1.3 percent nationally from March to April — suggesting the troubled real estate market may be finding a bottom. In this region, prices rose 0.1 percent from March to April.

“We were hoping to see some improvement in April,” said David Blitzer, head of the index committee at Standard & Poor’s. “Changes in home prices are very seasonal, with the spring and early summer being the most active buying months.”

Home prices in the region are down 27 percent from their peak in mid-2006, and have returned to the levels of September 2003. Nationally, home prices have declined 34 percent from their peaks in 2006, and have returned to early 2003 levels.

Home prices were a median $379,500 in Bergen County in April, down 6 percent from a year earlier. The number of sales rose 4 percent. In Passaic County, home prices declined 8 percent to a median $247,424, while the number of sales rose 4.6 percent. These numbers are from the New Jersey and Garden State multiple listing services. Case-Shiller does not break down price data by county.

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

141 Responses to NY Metro prices continue to show year over year losses

  1. Bebo says:

    Yo first, Word!

  2. Comrade Nom Deplume says:

    Bebo do good morning

  3. Comrade Nom Deplume says:

    @ EWR. Some friggen snooki wannabe tries to go thru security with a head full of barrettes. Hilarity ensues.

  4. Bebo says:

    Bebo sez git yer gat.

  5. reinvestor101 says:

    What I want to know is when there will be some damn discussion on the relevant topics of the day here–like John Edwards and Reille Hunter breaking up. You people keep beating a dead horse with these damn boring irrelevant topics. Get with the damn program and liven up the damn discussions.

  6. grim says:

    So when is Hovanian or Toll going to announce they are buying the Roche campus and turning it into a 55+ community?

  7. Mike says:

    Good Morning New Jersey

  8. Shore Guy says:

    For those who were not online at 1:00 a.m.:

    (Who ever could have seen this unexpected result happening. It is so, well, unexpected.)

    http://www.reuters.com/article/2012/06/27/us-usa-housing-nevada-idUSBRE85Q05520120627

    Evidence suggests anti-foreclosure laws may backfire

    (Reuters) – State and federal laws enacted to protect homeowners from eviction in the wake of the 2008 housing crash may be extending the slump, according to a growing number of economists and industry experts.

    Foreclosures have all but ground to a halt in Nevada, which passed one of the stiffest borrower-protection laws in the country last year. Yet the housing market is further than ever from recovery, local real estate agents say, with a lack of inventory feeding a “mini-bubble” in prices that few believe is sustainable.

    A recent U.S. Federal Reserve study found that in states requiring a judicial review for foreclosure, delays associated with the process had no measurable long-term benefits and often prolonged the problems with the housing market.

    Data from housing market researchers points to similar conclusions.

    “Many state laws that stretch out the period for legitimate foreclosures result in no added benefit for the homeowner and produce harm to the housing finance system and to neighborhoods,” said Alfred Pollard, general counsel to the Federal Housing Finance Agency, at a House of Representatives oversight hearing in March.

    Some people who have been able to stay in their homes despite failing to pay their mortgages may disagree, but it may be a different matter for the neighborhoods where they live.

    An overhang of properties that the banks want to foreclose, but have not dared to, not only can hold back a sustainable recovery in prices but also might encourage blight as the defaulting borrower has less incentive to keep the property in good condition.

    snip

  9. freedy says:

    http://www.nj.com/news/index.ssf/2012/06/roche_will_close_nutley_campus.html

    The Company says its searching for an east coast location for a Research facility.How
    many here think it will be in NJ?

  10. Fast Eddie says:

    Home prices in the region are down 27 percent from their peak in mid-2006, and have returned to the levels of September 2003.

    This isn’t the end, kids. Remember the laughter when people here said 40% off of peak? Are they still laughing? Where are the realtors? Why don’t they come out of the closet (semi-pun) and tell us how it’s different here? Is it still contained to sub-prime? Did NYC somehow drift further away? Is Ridgewood still bleeding wealth as an arrogant realtor once told me?

    By the way, that house I went to see over the weekend in Woodcliff Lake just dropped the price by $40,000. Any questions? I didn’t think so…. b1tch!

  11. Brian says:

    Anyone seen the old Alcatel/lucent campus in Whippany lately? A lot of construction going on there lately. Last I saw, peering in through the entrance as I drove by, it looks like they leveled the place. I wonder what they’re building in it’s place?

  12. Saw this on a comment thread at ZH:

    “All is in contraction. All is in varied forms of racketry.

    No true or sound money exists. IOUs abound which rely on rolls.

    Spreadsheets, balancesheets, Prospecti have been FASB’d.

    Free market principles have finally been blacked out.

    Nothing remains. Only enforcers, handicaps, retirees, insurers, brokers, factorers, skimmers, and ilk.

    Fiat, Ponzi, Fractionalization has gone global. No pockets of real endeavour seem to remain.

    Silly tickertapes, silly prognosticators, silly occupiers of a rotten capstone.

    Promises, bonds, IOUs, expectations, annuities, dividends, etc.

    Poof! Vanish! Since their underlying base is fully rotten and rotted.

    Timing is the only element not yet revealed.

    All the bankruptcy is well understood, but not its declaration.

    TIME”

  13. grim says:

    13 – Look at those salaries… $140,000+ for a grammar school principal in Garfield. God help us, does she get summers off too?

  14. borat the dictator says:

    First

  15. freedy says:

    http://nreionline.com/city-reviews/new-jersey/homegoods_settles_at_edgewater_harbor/index.html?NL=NREI-12&Issue=NREI-12_20120627_NREI-12_660&YM_RID=pesche22@aol.com&YM_MID=1322116

    See, now heres the future for NJ. More retail and the workers that go with them.
    Urban living at its finest . That Nutley campus can be used for training of all the retail employees that are coming.

  16. borat the dictator says:

    Last

  17. borat the dictator says:

    This posting closed please use other

  18. Mikeinwaiting says:

    Need a good laugh this morn courtesy of our friend Mr Yun.
    “Leave it to the NAR’s Lawrence Yun to get carried away over the latest home price data, as he looks ahead to a potential 10% rise by this time next year. With lots of homes in the foreclosure pipeline and pent-up demand for a better market to sell – with the slightest price appreciation likely adding inventory to market – Bill McBride says of Yun’s irrational exuberance: “Not. Gonna. Happen.”

  19. borat the dictator says:

    Jj for president

  20. Dissident HEHEHE says:

    Celente’s Revolutionary call to arms begins with a voter’s strike. “Stay Home, Don’t Vote” is his campaign slogan. “People have been conned into believing that if you don’t vote you’ve lost the right to complain. That’s political baloney,” fumes Celente. “The true case is exactly the opposite. This is a two-headed, one party system. Republican or Democrat, considering their track records, it’s clear nothing can be expected from either Presidential candidate other than the perpetuation of the destructive and criminal policies that have brought America to its current state of perpetual crisis and socioeconomic decline. Ditto for Congress.”

    “What self-respecting person would cast a vote for a lesser of two evils?” asks Celente. “Not only is it immoral and undignified, it’s destructive. Lesser or greater, evil is evil. By supporting one evil or the other, the voter becomes an accessory to the crime. Only a true intellectual revolution can restore dignity, trust, morality, decency and compassion.”

    I like Celente, I am voting for the Libertarian dude who was governor of New Mexico. Anybody voting for the O-man or Romney needs to check their head.

  21. Neanderthal Economist says:
  22. Comrade Nom Deplume says:

    [4] bebo

    Got it. Now what?

  23. Dissident HEHEHE says:

    Grim – stop beating up on principals and teachers! (sarcasm off)

  24. Dissident HEHEHE says:

    I think Paul Krugman says we need more $80K teacher jobs and $140K principals to boost the economy.

  25. Fast Eddie says:

    OMG, those salaries in freedy’s post [13] is absolutely sickening. Oh… my… G0d, how much more of a f*cking beating can one stomach. How are we not in a rev0lution?

  26. freedy says:

    Garfield: another wonderful NNJ community . Close to the city, great housing,lots of
    retail,and of course low taxes . All for the children and our future

  27. Fast Eddie says:

    Lawrence Yun: LMAO!! What a clown.

  28. freedy says:

    The food stamp Program,
    administered by the U.S. Department of Agriculture, is
    proud to be distributing the greatest amount of free meals and food stamps ever.
    Meanwhile, the National Park Service, administered by the U.S. Department of the
    Interior, asks us to “Please Do Not Feed the Animals.”
    Their stated reason for the policy is because the animals will grow dependent on
    handouts and will not learn to take care of themselves.”

  29. Bagholder Brian says:

    Its like they’re pushing people to become dependent on foodstamps. I hear commercials advertizing the use of foodstamps on WOR radio all the time. WTF?

    32.freedy says:
    June 27, 2012 at 8:05 am
    The food stamp Program,
    administered by the U.S. Department of Agriculture, is
    proud to be distributing the greatest amount of free meals and food stamps ever.
    Meanwhile, the National Park Service, administered by the U.S. Department of the
    Interior, asks us to “Please Do Not Feed the Animals.”
    Their stated reason for the policy is because the animals will grow dependent on
    handouts and will not learn to take care of themselves.”

  30. POS cape says:

    33 Freedy

    From the article: “Prosper Assouline, owner of the luxury book publishing house that bears his name,…”

    Is that a joke? Or is this really from The Onion?

  31. Phoenix says:

    [29] Fast Eddie
    Not all of the numbers were bad. Subs for 80/day and 100/day. That’s babysitter prices for someone with a college degree. Same with the two teachers at 41k and 47k. Those prices are a bargain for high quality educated individuals. But then again, some think that teaching is just babysitting anyway. (Mostly the 60+ crowd)

  32. Mike says:

    13 Any openings for janitors? I’m interested.

  33. Fast Eddie says:

    “The number of foreclosures working their way through the pipeline suggests prices could take a turn for the worse, especially if the U.S. economy weakens,” said economists Patrick Newport and Michelle Valverde of IHS Global Insight. “We are expecting home prices to cautiously start moving up in 2013, however.”

    I suppose if they keep repeating it every year, eventually, they’ll get it right.

  34. Fast Eddie says:

    Phoenix [37],

    I absolutely agree. Get rid of the assistant bullsh1t jobs at a 100K plus and then we’ll start making progress.

  35. Painhrtz - Oooh a Donut! says:

    Brian word on the street is that it is going to be the new Bayer US headquarters, have not heard anything else

  36. Fiddy Cents on the Dollar says:

    Those Garfield crony jobs are a joke. WTF is an Assistant Technology Co-ordinator and why is it worth big money ?? Can’t the Head Technology Co-ordinator handle the workload ?

    An Attendance Co-ordinator ?? A Curriculum Co-ordinator ??

    Historians agree that the downfall of the Roman Empire started when Caesar started appointing all his cousins to Co-ordinator positions…….Vini, Vidi, Bebo

  37. Painhrtz - Oooh a Donut! says:

    Freedy Perrapato was my Grammar school principal and Conte is a distant relative. I had jobs in town through high school and college through nepotism and yes it is rampant

  38. 3B says:

    #37 Same with the two teachers at 41k and 47k. Those prices are a bargain for high quality educated individuals.

    How much do you think kids right out of college in the private sector are starting at. In many, many cases a lot less than 41k and 47k.

    As far as baby sitters, after going through the whole blue ribbony thing, I can tell you you insult baby sitters, some of these highly educated individuals you mention, are not fit to be baby sitters.

  39. 3B says:

    #43 Pain: What happened to Garfield? Was it ever considered a nice town?

  40. Painhrtz - Oooh a Donut! says:

    now multiply that crap by 600 some odd municipalities and you understand whay our taxes are so f*cking ridiculous

  41. freedy says:

    SEC and Falcone Set for Showdown

    This is what happens when you don’t pay , like Corzine to Barry and the boys .

  42. Painhrtz - Oooh a Donut! says:

    3B in a word no. Lower class blue collar town run by the mob and local pols. We had the distinction of being the only predominantly white abbott district when I was in school in the mid 80s through now. I good number of the folks are jersey tarded, and it was a crap hole from mid 60s on according to my mom (teen mom) and uncle (rather not go there)

  43. Fast Eddie says:

    It’s the beginning of the end for these lush jobs and they know it. An endless stream funded through extortion can only go so far. Eventually, the source approaches depletion and dies.

  44. 3B says:

    #48 So no hope for a turn around in that town. I guess any one with any ambition leaves the town.

  45. Phoenix says:

    [44] 3B
    How much do you think kids right out of college in the private sector are starting at. In many, many cases a lot less than 41k and 47k.

    You are right. Walmart pays less.

  46. JJ says:

    teaching is a nice cute job for the ladies, allows them to earn 100k a year be home in time and off in summer for kids and provides free medical and a great pension.

    In reality teaching jobs are really welfare for blue collar, lazy union working, unemployed, or retired early lazy fathers who pimp out their wives for 100K a year in a job where wife not only can make 100K a year but be home in time to cook his dinner and clean house.

    Shocking to me, but most teachers with masters degrees in my town have husbands who dont make that much. For most part husbands are free riding on their medical and pension. Lots of contractors, cops, fireman, blue collar type jobs of husbands of teachers. Considering they have a masters degree, amazing how many teachers marry men with no college degree.

    In NY good teaching jobs generally go to people who went to that school district, did internships there, or live in that town. Plus teaching jobs have feeder schools you must go to. My sister who is a very highly paid teacher wanted into a high paid school district, she went to same grad school as principal, did internship there, lived nearby and attended every baby shower, wedding or picnic till she had tenure.

    My town I would say 90% of teachers grew up in my town. They go away to college have fun, move back home after college, go to grad school for 1-2 years while subbing or interning at public school and of course living with mommy and daddy for free. They rarely move out as if you teach in a school one mile from home and you live free why move. So there choice of men are men who are around in the surburbs from 3pm to 10 pm weekdays, and around during summer. Cops, Firemen, Airport type people. Funny nowdays you need almost 200K to raise a family, 100K wont do it. So the teachers marry the local union guy making 60 while they are a junior teacher making 60k.

    Meanwhile girls who enter public accounting usually work their tail off in the big four from 21-27 and decide if they are partner material or not. If not they latch onto the 32 year old senior manager most likely to make partner before they hit 30 and if luck works by the time they are 35 they are home at country club with two perfect kids and a 39 year old husband making 600K a year.

    Teachers make a lot of income considering the job, but their marriage prospects are so much less. I dated a teacher for a few weeks, funniest thing ever. She was like 29 she did not have tenure yet and was paying off loans and living at home and Dad was sick of it. I went to pick her up on a date once as her Dad was pretty much saying you are almost 30 you should get out. I pull up in my suit as I was taking her to my Friends wedding, (first time I met him). He goes to me, is that your Mercedes in my driveway, I go yes, he goes do you own it outright no loans? I go yes, Then goes where do you live do you own or rent, I go I own a coop, then he goes where do you work. I go I got a job on Wall Street. Guy turns to daughter and goes what the F&ck are you doing her and what hte F&ck are you wasting your time teaching, you got a guy hear with a mercedes and a coop, why dont you pack your bags right now get out marry him and start having babies and stop wasting everyones times. Dad gave her a huge dose of welcome to 30. I broke up with her a few weeks later anyhow, she moved to Manhattan and got a small apt and I actually moved ot Manhattan and got a small apt. In Manhattan you dont take ants to a picnic. Meanwhile no way could she afford Manhattan, she was making 40K a year rent was 1k a month and she had to keep a car to drive to her school in queens not near a train. Pretty much a few weeks after I got engaged I ran into her. She was hot so not hard to miss in a bar, turns out her lease was up, she could not afford to keep apt, her car was getting on ten years old and now she was pushing 33. Dad gave her reality at 29 but wasnt until 33 that it sat in. I hope she found some super rich ugly banker/broker to marry with her bills and debt at 33 no freeloading cops or fireman would have her.

  47. Painhrtz - Oooh a Donut! says:

    3B you are correct there are some that stay to be big fish in little pond ie as teachers but those of us with any intelligence and ambition run as soon as we are able. I was back a month ago for some family thing and needed anxiety meds when I left

  48. 3B says:

    #53 Phoenix: Many entry level jobs, private sector (away from Walmart) are starting in the 25k to 35k range. Teachers in nice north Jersey towns are starting at 32k to 39K, with great benefits and then go from there.

  49. chicagofinance says:

    I thought it was going to be part of the Xanadu thing…..

    grim says:
    June 27, 2012 at 7:21 am
    So when is Hovanian or Toll going to announce they are buying the Roche campus and turning it into a 55+ community?

  50. chicagofinance says:

    Board GTG? Next DJ Bebo gig?

  51. The Original NJ ExPat says:

    [14] Meat – reminds me of a comment by “Par Contre” on Mish yesterday:

    Rather than thinking in technical terms, let me try to paint a picture. When a central bank injects credit into the system, there is nothing real to back up that credit, i.e. there is no corresponding savings available to be lent out. Essentially, what the central bank has done is to create an “illusion of wealth.” Over a long period of time, as the central bank continues to pump credit into the system, the illusion of wealth builds up until it reaches a point where the illusion can no longer be sustained. The credit cycle rolls over from its expansion phase into its contraction phase, and the illusion begins to dissipate.

    In large part, the illusion consists of overvalued financial assets. And if some assets are overvalued, then other assets must be undervalued, on a relative basis. We can see the long term cycle by looking at the ratio of the Dow Jones Industrials (proxy for financial assets) and the PPI (proxy for real assets).
    http://research.stlouisfed.org/fredgraph.png?g=8gp
    Using gold as a proxy for real assets shows a similar picture, but the Fed does not believe in the existence of “barbaric” monies and refuses to include gold prices in the FRED.

    I don’t believe that there has ever been, in all of human history, such a massive experiment with fiat monies or such extreme measures by central banks to prolong the illusion of wealth. Eventually, however, an equilibrium must be re-established; either financial asset prices decline toward an equilibrium with real asset prices, or real asset prices rise toward the illusory levels of financial assets. With all due respect, Mish, I don’t think any eventuality can be ruled out.

  52. JJ says:

    Chifi, get set to fall off your chair!!! The country wide bonds I own which was not part of Bank of America Trup calls, unlike BAC, Merril, Fleet, MBNA and NB trups which all was called has shot up in price.

    Can you believe Countrywide bonds at trading at a price of 111.50? I find it insane.

    COUNTRYWIDE CAP III SB CAP-B 8.05000% 06/15/2027 111.500

  53. Anon E. Moose says:

    Meat [14];

    Free market principles have finally been blacked out.

    The law of supply and demand is not subject to political power. The gubmint might as well try to repeal the law of gravity.

  54. joyce says:

    From yesterday:
    JJ said: “Folks like me who actually own their home…”

    Do I have to say it? Stop paying your property taxes and we’ll see who owns your home. Nobody owns their own home or even the land on it.

  55. Phoenix says:

    [56] 3B
    “Teachers in nice north Jersey towns are starting at 32k to 39K, with great benefits and then go from there.”
    Bennies are or will be on life support soon. Except for “current retirees”. Any young person buying a house in NJ that is not at fire sale prices needs their head examined.

  56. Painhrtz - Oooh a Donut! says:

    wahhh it is unfair that I signed a contract and did not know the terms for a worthless degree. Please daddy government save me. though some of them sound reasonable

    http://news.yahoo.com/blogs/lookout/student-loans-basically-ruined-life-yahoo-news-readers-105332697.html

  57. 3B says:

    #64Any young person buying a house in NJ that is not at fire sale prices needs their head examined

    Agreed.

  58. Juice Box says:

    Strange how a Nastwest/RBS ATMs will be down for over a week.

    http://www.bbc.co.uk/news/business-18607169

  59. JJ says:

    Joyce I get 63,000 dollars worth of public school each year, train parking, library, cops, fireman, sanitation and parks all for 8K a year. I wish I had more bills like that. Even crazier property tax is still partially tax deductible on my income tax return.

    The Japanese say the Circle of Life is how you make money. I bought some long term NY muni bonds in firesale after whitney spoke on 60 minutes and find it amusing I pay property tax with my tax free muni bond interest then write property tax off on federal taxes. Ahhh the circle of life is wonderfull. Key is dont be in the circle.

    joyce says:
    June 27, 2012 at 9:47 am

    From yesterday:
    JJ said: “Folks like me who actually own their home…”

    Do I have to say it? Stop paying your property taxes and we’ll see who owns your home. Nobody owns their own home or even the land on it.

  60. seif says:

    another one under contract in The ‘Fly…the hottest town in Bergen:

    Est Cls Dt: 10/31/2012 UCD: 6/22/2012 DOM: 51

  61. All Hype says:

    Hello Everyone:

    Time to talk a little Roche. So yes, they announced that they are closing the Nutley site. To summarize the reason, it is not cost efficient. There is a lot of duplicative basic research work being done on multiple sites and the cost to keep Nutley as site open was not cost efficient. There was also some rumored issues when the head of our division upon presentation of the pipeline in April that hastened our demise.

    They will open a “center of excellence” for development, the area where I work. So my prospects for keeping my job are prety good depending on where they put the office. Pain, it will be set up like our old company did in Parsippany. I even told the higher ups that our old building was still available. Looks like it will be in NJ but I will let you know when I find out.

    This will be devastating to the lab people here. They will eventually either move for employment or find a new career in New Jersey. The admins and support staff will also have a hard time finding new employment.

    They will need 2 years to remediate the site for sale. Yes, you read it correctly, 2 years. So you can only imagine what needs to be cleaned up on site. They will also take down some buildings that are past their usefullness. So the developers will have to wait until 2015 until they can start their retirement complexes.

    That is all for now. Have a good day!

  62. joyce says:

    (23)
    Dissident,

    Regarding voting for Gary Johnson, I was leaning that way until he publicly and repeatedly said ‘those involved in the 2007/2008 “financial crises” never committed any crimes.’
    That pretty much eliminated him as an option for me.

  63. joyce says:

    (68)

    Ok.
    You still don’t own the property, but thanks for playing.

  64. Juice Box says:

    re: #70 – Perfect site for Xanadu II, they should start dissembling it now and move it there.

    http://online.wsj.com/article/AP1c917ef12ad547f0829e652e53aa29c2.html

  65. chicagofinance says:

    I must have misunderstood, because I was under the impression that the site was going to be decommissioned a couple of years ago. Was that part of some other downsizing?

    All Hype says:
    June 27, 2012 at 10:22 am
    Hello Everyone:

    Time to talk a little Roche. So yes, they announced that they are closing the Nutley site. To summarize the reason, it is not cost efficient. There is a lot of duplicative basic research work being done on multiple sites and the cost to keep Nutley as site open was not cost efficient. There was also some rumored issues when the head of our division upon presentation of the pipeline in April that hastened our demise.

  66. Painhrtz - Oooh a Donut! says:

    Hype if it wasn’t for my current situation and yours would be time to start thinking about the much talked about venture with our former collegues. I still think every other one sucks and we could do much better.

    Glad to hear you may be keeping your job with all the open retail space I don’t think they would be straying far from nutley to retain as much staff as possible.

  67. Bagholder Brian says:

    Story unfolding in Newark: A container loaded on a ship from pakistan, which originated in India, then stopped at Egypt, seems to have people inside it.

    Stowaways suspected of being in container on ship docked in Newark

    http://www.nj.com/news/index.ssf/2012/06/stowaways_might_be_on_ship_doc.html

  68. freedy says:

    Union City and West NY are sending cars down to pick them up . Apartments are
    available for arriving non citizens. S8. Food bank available unitl food stamp card
    arrives . Free medical checkups to get them started and if they have children no problem
    free education and eats.

    All on the house

  69. chicagofinance says:

    JJ: Kate Upton Baywatch video with wet t-shirt…….Sanchise QB rating is going to be 30 this season :(

  70. Fast Eddie says:

    freedy [77],

    You’re almost totally right. First he’s registering them to vote, then he gives them the goodie bag.

  71. Fast Eddie says:

    freedy [80],

    Didn’t they get the memo? Oblama said we’re in the summer of recovery.

  72. Painhrtz - Oooh a Donut! says:
  73. Libtard in Union says:

    This blog has been afflicted with the Bebo Madness.

  74. Painhrtz - Oooh a Donut! says:

    conspicously absent, Bergen county guess homies in garfield bringing down the rest

  75. The Original NJ Expat says:

    [62] joyce – I heard Peter Fonda say this in an interview about 20 years ago. It made me think and I never forgot it. Peter preceded this statement by saying he likes living on his boat because he really owns his boat.

    Do I have to say it? Stop paying your property taxes and we’ll see who owns your home. Nobody owns their own home or even the land on it.

  76. JJ says:

    kate upton wet tshirt mmmmmmmmm.

  77. joyce says:

    (85)

    Yup! I wish I could say that was my phrase… but I got it from him.

  78. chicagofinance says:

    go to NY POST website….
    JJ says:
    June 27, 2012 at 11:49 am
    kate upton wet tshirt mmmmmmmmm.

  79. JJ says:

    I did, excuse me while I go all Charlie Runkle in the office.

    chicagofinance says:
    June 27, 2012 at 12:04 pm

    go to NY POST website….
    JJ says:
    June 27, 2012 at 11:49 am
    kate upton wet tshirt mmmmmmmmm.

  80. Sima says:

    #7 K Hov. is not interested in building anything for 55+ or million dollar homes. They have permission to do both (everything approved several years ago) in Cedar Grove, but since the market has tanked for both (think of all the 55+ developments that are now opening them up to all ages), but don’t want to do those anymore. So they are now suing Cedar Grove in order to build many townhouses and low-income townhomes (over 400of them) on the same parcels of land.
    So you heard it here first: townhomes are where the money is (at least according to K Hov)

  81. Sima says:

    Re: #90 over 400 of them

  82. Fast Eddie says:

    I’d rent the top floor of a 5 story walk-up on the Bronx Concourse before I’d buy a Townhouse.

  83. Sima says:

    What’s really nasty is that K Hov is suing Cedar Grove saying that a large number of them need to be low-income housing (because according to them Cedar Grove has not met low-income housing requirements – even though that has not been determined by NJ).
    And they want to segregate the low-income Townhouses all in one area of a parcel rather than integrating it in with other Townhouses. Low-income alley…

  84. joyce says:

    93
    To the best of my knowledge, all planned communities that have ‘low income’ units place all of them in one section and do not disperse them throughout.

  85. Sima says:

    No – they can disperse them throughout. And this is done in other places, even NYC.
    One would think this results in better integration into the community.

  86. Bagholder Brian says:

    I remember there being a ton of the low income condos in Bedminster when i worked there. A lot of tellers and people in the call center that made like $25k to $45k lived in them. Seemed like a nice neighborhood at the time and I don’t remember it being any sort of a section 8 ghetto or anything.

    93.Sima says:
    June 27, 2012 at 1:18 pm
    What’s really nasty is that K Hov is suing Cedar Grove saying that a large number of them need to be low-income housing (because according to them Cedar Grove has not met low-income housing requirements – even though that has not been determined by NJ).
    And they want to segregate the low-income Townhouses all in one area of a parcel rather than integrating it in with other Townhouses. Low-income alley…

  87. joyce says:

    I didn’t say they can’t.

    It may result in better integration, if one is of the mind that it can successfully be forced onto people.

  88. Sima says:

    I like diversity – all ages, different occupations, etc living together. That’s what makes cities so interesting – the variety. I personally think of age restricted communities (55+) as deadly boring (my opinion). (Is that why they’re not selling anymore?)
    If I actually get to a ripe old age I’d rather live in a city apartment and take mass transit/taxis everywhere and have deliveries of food and services, rather than live somewhere where everyone is just waiting to die. Also probably cheaper than assisted care/nursing homes.

  89. Richard says:

    The great thing about diversity living in a central city apartment at a ripe old age is you can turn your hearing aid off at 3am when the neighbouring students get home from a bar. Unfortunately my hearing is still good.

  90. joyce says:

    Sima,
    My guess is 55+ communities are no longer selling because they’re overpriced in relation to the over-supply. Plus, more and more folks leaving the state than staying in their golden years.

  91. Painhrtz - Oooh a Donut! says:

    I’ll take homogeniety over diversity any day. Between the science degrees and living most of my life within 15 miles of NYC diversity is over rated.

  92. Fast Eddie says:

    Oh sure, diversity is great (rolls eyes)! Growing up in a “diverse” city, I got to witness many wonderful diversity encounters. I saw one, loving, friendly ethnic group try to bash in the head of an equally friendly ethnic group on many occasions.

  93. Fast Eddie says:

    These are the people that put the Muppet in Chief in the White House in the first place and are the reason why he will be re-elected:

    http://news.yahoo.com/blogs/ticket/sixty-five-percent-americans-obama-better-suited-handle-171143465.html

  94. The Original NJ Expat says:

    [92] I wish I bought the one I rented in ’97-’98 in Hampton, NH. Ocean and beach was right across the street with no buildings obstructing view on the beach side. Weird but cool layout, too. Two bedrooms and two full baths and laundry on the first floor, sliders from the master out to deck and pool. Second floor had kitchen and living room with unobstructed ocean views, dining room with beautiful marsh views, also a half bath. Top floor was my office and a big storage (could be converted to family room. Unobstructed ocean views from two angled skylights from my office. Parking for two cars in big communal garage with electric door, nice bike storage room in the garage too.

    This is the exact unit, sold last month for $306K. I could have bought it from my landlord for $250K in fall ’98, but that seemed too high back then. We rented it from Sept-June furnished from Labor day until Memorial day for something like $780/month. Owners were College professor/High School teacher in their 50’s, they lived there in the summers. Beautiful spot.

    http://www.zillow.com/homedetails/939-Ocean-Blvd-UNIT-8-Hampton-NH-03842/86797312_zpid/

    I’d rent the top floor of a 5 story walk-up on the Bronx Concourse before I’d buy a Townhouse.

  95. Miss Piggy says:

    Obama/Biden 2012!

  96. Animal says:

    Tama/Ludwig 2012

  97. Painhrtz - Oooh a Donut! says:

    hooray 40 more years of The Great Panderer long live the dictator and chief! Race baiting for all, equality for none!

  98. Anon E. Moose says:

    Miss Piggy [105];

    Obama/Biden 2012!

    VP Joe says we’re in a depression; who am I to argue? Four more years?!?

    http://youtu.be/endBtyHs6p0

  99. Anon E. Moose says:

    Three NJ Counties among top 10 wealthiest:

    http://realestate.yahoo.com/news/america-s-10-richest-counties.html?page=all

    5. Hunterdon County, NJ
    Average income: $130,723

    Hunterdon County is located in the northwestern part of New Jersey between this list’s No. 9 county, Morris, to the northeast, and No. 7, Somerset County, to the east.

  100. Obama aka Oblama, aka Bojangles says:

    if i lose the ‘lection y’all have no one leff to blame f’all o’ yo prolems!
    (especially fast eddie)

  101. Excellent post. I was checking continuously this weblog and I am inspired! Extremely helpful info specifically the last section :) I handle such info a lot. I used to be seeking this certain information for a very lengthy time. Thanks and good luck.

  102. Anon E. Moose says:

    People more confident in His O-ness to handle an alient invasion than.

    My take: O’s team, his supporters and.or surrogates think this is a selling point; O’s supporters think alien attack is a likely possibility worth contemplating (Where’s my tin foil!); and this ridiculous poll was the only way to show His O-ness considerably ahead of Romney.

  103. Painhrtz - Oooh a Donut! says:

    Moose chairman O also leads with transexual naz! eskimos

  104. Bebo says:

    I think moose is the real Bebo.

  105. Fast (and Furious) Eddie says:

    If Oblama is the stoned muppet, is Biden the drunken muppet?

  106. llort says:

    #109 Moose

    Those counties aren’t rich, they just don’t have many poor people in them.

  107. JJ says:

    If I made 130K a year like in Hunterdoom I would look like Nick Nolte in Down and Out in Beverly Hills on a bad day. Serious dont people in Bergan County in Trader Joes make that kind of money. The street are paved gold and lyme desease out there

    llort says:
    June 27, 2012 at 4:36 pm

    #109 Moose

    Those counties aren’t rich, they just don’t have many poor people in them.

  108. NJCoast says:

    Beach chair- check
    Martini shaker- check
    Grey goose – check
    Olives and ice- check
    Perfect beach weather
    Aaahhhhhhh!

  109. Fast Eddie says:

    BREAKING NEWS: Obama appoints a new campaign manager:

    http://www.youtube.com/watch?v=oM8l3X_7Hkg

  110. Bystander says:

    #54 JJ,the

    The world called ..it wants its microscope back..again.

  111. Comrade Nom Deplume says:

    Posting from Seattle where I am in, where else, a coffee shop. I see things are getting weird now that I am not around.

    JJ, restore some sanity. Tell us a war story about some celebrity you nailed.

  112. relo says:

    120: What a disappointment. I was hoping for Bebo.

  113. Mikeinwaiting says:

    Nom 122 and yes they were not weird prior. LOL Have fun in the rainy city.

  114. Mikeinwaiting says:

    Bebo for one hundred?

  115. Bebo says:

    Me Bebo. Me have aneurysm.

    “Just because ZIRP is so 2009 (and will be until the end of central planning as the Fed can not afford to hike rates ever again), the ECB is now contemplating something far more drastic: charging depositors for the privilege of holding money. Enter NIRP, aka Negative Interest Rate Policy.”

    http://www.zerohedge.com/news/europes-monetary-twilight-zone-neutron-bomb-nirp

  116. The Original NJ ExPat says:

    LOL. I was just telling my wife the Deejay Bebo saga and clicked for the first time on some of his Facebook jams (watch me pop it! watch me pop it! watch me pop it! watch me pop it! watch me pop it! watch me pop it! watch me pop it! ). After careful review I’m compelled to say that his art…sucks! Probably good background for a GTG…in hell.

  117. Excellent blog you have here.. It’s hard to find high quality writing like yours nowadays. I truly appreciate people like you! Take care!!

  118. Comrade Nom Deplume says:

    I just had to come back on for this. Now THIS is how to spin a story, folks:

    http://www.examiner.com/article/jay-carney-strikes-out-again-claims-red-sox-fans-were-not-booing-obama

    Memo to Carney: Yes, it is easy for the untrained (i.e., non-Bostonian) ear to confuse “Boo” and “Youk”. But trust me when this lifelong Bostonian tells you, the crowd wasn’t saying “Youk.”

    Nice try.

  119. The Original NJ ExPat says:

    [129] Thanks Nom, I just heard random comments from the periphery, but that video brought home the real news. I think nowadays, if it’s not on RT (Lauren Lyster, makes Becky Quick look like a real Bebo, right?), kinda like not being Scottish, it’s CRAP!

  120. seif says:

    129 – wow…apparently that flew right over the writer’s head…and yours.

  121. Phoenix says:

    Pretty sad when RT is the most accurate USA news channel. Lauren and Alonya are both pretty good.

  122. Deion Sanders says:

    This is one of the main reasons O wins. Its not the policy differences, its not the economy, its the opposition. He aint “Prime Time!”
    http://www.huffingtonpost.com/2012/06/27/rush-limbaugh-mitt-romney_n_1630624.html

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