From CNN/Money:
Survey says: Fewer affordable homes
It just got a little harder for most Americans to buy a home, according to an industry survey.
Nearly 74% of the new and existing homes sold in the three months ended June 30 were affordable to families who earn the national median income of $65,000, according to the National Association of Home Builders (NAHB) and Wells Fargo. That’s down from 77.5% a quarter earlier, but still a very high level of affordability, historically speaking.
Rising prices were responsible for the decline in affordability. Median home prices were up in 92% of the markets surveyed, while median income didn’t budge.
Barry Rutenberg, NAHB’s chairman and a home builder from Gainesville, Fla., said the decline in affordability was a positive sign for the market.
“[It’s] another signal that the housing recovery is starting to take root, and it lends needed confidence to prospective buyers and sellers who have been reluctant to move forward in the current marketplace,” he said.
…
The New York metro area was the least affordable market, with only 29.4% of homes within reach of the average family.
Good Morning New Jersey
Morning Mike.
Pump up the value of the dollar.Countries will not let the over valued dollar depriciate
http://www.bloomberg.com/news/2012-08-13/currency-flows-reversing-china-to-colombia-as-trade-slows.html
The New York metro area was the least affordable market, with only 29.4% of homes within reach of the average family.
Any questions?
The median home is a myth in NJ. You have premium and you have undesirable, there is very little middle ground unless you are willing to commute long distances.
Factor in Property Taxes to get a truer picture.
it says in article that home prices rose 2.5% over last year making them less affordable, but inflation was around 2.5% over last year. they are the same amount affordable.
Eco 101 was never taken by author of article.
Problem is in places like Buffalo and Cleveland there are average income people buying average income houses. Places like BC and LI we have well off people and poor people. There are very few average income employees, they only exist as a statistic. I say my town the average working family makes 250K a year. Average income in town is like 85K. The average income mixes in mexicans, drop-outs, drug addicts, HS drops outs, disabled, elderly, laid off, unemployed, divorced etc. So we have a town where a large proportion is scraping by and a large proportion are college educated or two income union which gives us an average of 85K. But unlike Buffalo there is no large group of middle class people, they dont exist
Fast Eddie says:
August 14, 2012 at 8:18 am
The New York metro area was the least affordable market, with only 29.4% of homes within reach of the average family.
Any questions?
Are we going back to the previous norm in housing appreciation?
raging bull jj says:
August 14, 2012 at 8:29 am
it says in article that home prices rose 2.5% over last year making them less affordable, but inflation was around 2.5% over last year. they are the same amount affordable.
Eco 101 was never taken by author of article.
It’s been over a month searching for homes now and it takes a lot of effort to keep the patience in check. As Grim stated above, there seems to be now middle ground. The inventory is very limited right now and I’m borderline appalled that people expect close to 600k for a dump that needs 100k to deem liveable. Then, you look at the taxes and it’s like getting hit with a cinder block. How do I tell that sweet girl who politely asks to come see my house every week that she bought, who’s in love with the bedroom that will be for Her new baby, that she may not get my house because the underwater dolts are trying to get bailed out at my expense?
AHHHHHH percentage wise yes, dollar wise no. Reminds of my buddy who got a market rate brand new rent stabilized apt in 2007. She quickly realized although her rent could only rise around 2% year since she started at $3,000 a month. At 2% increases compounded yearly her rent is still rising quickly. Back when I had a rent stabilized apt I started at $775 a month rent and 2% was a joke.
Even today near me splits that went for 224k in 1992 are now going for 500k. Even at 2.5% appreciation that is moving pretty quick when the basis is 500K. Also towns are taking a huge hit on RE tax shortfalls due to declining RE values, bet you bottom dollar when prop values rise even if just for inflation based. Both tax rates and your assessed value will both rise. My neighbors house who got reassessed at 385K last year new dope just paid 425K. Guess what that will be his new value and tax rates are slightly up. New homes owners paying above the 2009-2012 assessed rates may find a nice suprise in their tax bills in 2013
yo says:
August 14, 2012 at 8:34 am
Are we going back to the previous norm in housing appreciation?
raging bull jj says:
August 14, 2012 at 8:29 am
it says in article that home prices rose 2.5% over last year making them less affordable, but inflation was around 2.5% over last year. they are the same amount affordable.
Eco 101 was never taken by author of article
JJ,
Unfortunately measures of “Home Affordability” are pretty fluid. The often take into account average family income, interest rates, and average home prices. Inflation isn’t part of the calculation because it should be reflected in both average family income and average home prices which should cancel each other out.
It should look something like: (AHP/AFI) x IRI
Where AHP is the Average Home Price, AFI is Average Family Income, and IRI is an Interest Rate Index.
You can see that as inflation occurs, so should the average home price rise by a proportional amount. In addition, the average family income should also rise proportionately to inflation.
The interest rate index is some loading value that is calculated from interest rates that indicates how large of a monthly payment that you could make without burdening your finances. This is one of the primary reasons why I think all “Affordability Indicies” are garbage and worth less than the electrons that they consume in some computer somewhere.
I don’t go around paying for a car based upon monthly nut. I don’t go around buying houses based upon monthly nut either. If you do then you are just asking to get punched in the groin at some later point in time. I know that there are people who do only look at monthly payment but those people are called sheep.
[10] – gary – pay up or rent, the market is the market. I understand the market isn’t what it should be (zero properties coming to foreclosure in Somerset and Morris counties, for example), but it still is what it is. If I had pressing need to trade up (kids have a limited shelf life as kids, etc.) I think I would be looking for a 2 year rental with an option to buy at a set price, something that’s in move in shape right now. I bet if I waved two years rent cash up front I could probably persuade the right seller into a rental even if they never considered it before. If the market moves up fine. If the market moves down, punt on the option and negotiate a better price , re-lease at a more favorable rent, or move on. I think I read somewhere you can’t get tomorrow’s prices today (but you can still get 2006 prices today, if that floats your boat).
[12] Nicholas – Where are property taxes accounted for. I’ll give you a real world example. I know someone who bought at the top of the market for $850K and the house had $8K annual property taxes. His house is now worth $650-$700K but with $16K property taxes. Is his house more affordable at $850K with $8K taxes or at $650K with $16K taxes?
Inflation isn’t part of the calculation because it should be reflected in both average family income and average home prices which should cancel each other out.
It should look something like: (AHP/AFI) x IRI
And also factor in mortgage tax deduction is not subject to AMT which can limit the deduction for property taxes. For someone in AMT – 8K mortgage plus 8k property tax is cheaper than zero mortgage and 16K property tax.
The Original NJ ExPat says:
August 14, 2012 at 10:08 am
[12] Nicholas – Where are property taxes accounted for. I’ll give you a real world example. I know someone who bought at the top of the market for $850K and the house had $8K annual property taxes. His house is now worth $650-$700K but with $16K property taxes. Is his house more affordable at $850K with $8K taxes or at $650K with $16K taxes?
Inflation isn’t part of the calculation because it should be reflected in both average family income and average home prices which should cancel each other out.
It should look something like: (AHP/AFI) x IRI
Expat,
I don’t have to pay up or rent, I’ll stay where I am if the contract stipulation kicks in. F*ck em, I’m not jumping off the bridge because everyone else is doing it.
closed in The Fly:
This one was WAY overpriced so the big discount to LP is not surprising.
Last LP: $799,900 ML#: 1206703
Addr: 19 SISSON TER
Twn: TENAFLY Zip: 07670
Orig LP: $799,900
Sold: $670,000
SD: 8/11/2012 UCD: 5/29/2012 DOM: 98
Sounds like your lazy buyer should spend less time dreaming about baby room decorating and get her lazy bottom out on the street canvassing neighborhoods for unlisted houses you can buy with no realtor, then.
Expat,
I don’t have to pay up or rent, I’ll stay where I am if the contract stipulation kicks in. F*ck em, I’m not jumping off the bridge because everyone else is doing it.
Expat,
I really have no idea what you’re talking about. The bottom line, everything is on my terms and to my sanity or nothing happens at all.
[19] I meant that, since you hold all the cards, and if your buyer really wants your house, then the only way to guarantee that outcome is if she went out and personally found *you* a house for *you* to buy at a price that pleased *you*. Give her some neighborhoods and tell her to go knock on some doors.
Isnt it easier just to pay someone $500 bucks to break your legs so you are forced to sell.
The Original NJ ExPat says:
August 14, 2012 at 10:55 am
[19] I meant that, since you hold all the cards, and if your buyer really wants your house, then the only way to guarantee that outcome is if she went out and personally found *you* a house for *you* to buy at a price that pleased *you*. Give her some neighborhoods and tell her to go knock on some doors.
Expat,
Understood. I have thought about ways to tap the hidden market. I’m working with someone and will run it by them first.
We’ve been looking hard now for a couple of months and were not able to find anything priced correctly. Finally decided to make market offers on overpriced homes. Found recent comps that sold for average $172/sq ft. Even offered a 20% premium on per sq foot basis to account for new paint, nice lawn, and as my wife says “move in conditions”. (Spanish is her first language) Still no luck budging sellers off their dream cash out. I don’t see how they can justify ignoring comparable sales, but its their choice and we move on. Not much new coming on right now so it looks like renting for one more year. One seller that finished off attic was adamant about going to the town to get her assessment INCREASED since they failed to note the additional sq footage of attic (approx 400 sq ft) and she felt that this was hurting her 450k asking when people saw town listing her property at 1352 sq ft.
I recommend hitting him with a cinder block. With those property taxes, he’s used to it anyway.
21.raging bull jj says:
August 14, 2012 at 11:02 am
Isnt it easier just to pay someone $500 bucks to break your legs so you are forced to sell.
Then, you look at the taxes and it’s like getting hit with a cinder block. How do I tell that sweet girl who politely asks to come see my house every week that she bought, who’s in love with the bedroom that will be for Her new baby, that she may not get my house because the underwater dolts are trying to get bailed out at my expense?
Muni bond research, is sloppy market a technical term?
We had expected to see strong inflows this summer as the months of June, July and August were projected to produce some $115 billion in reinvestment demand from coupon payments and principal redemptions, but the flows for the second week of August were much higher than those seen in either the second week of June or the second week of July. If the summer pattern holds, we should see continued strong inflows for the remainder of August. We note that redemptions drop off significantly in the fall, to about $18 billion in September and $23 billion in October from approximately $35 billion in August, so we would not be surprised to see fund flows slow down once September rolls around. This will coincide with an expected seasonal increase in municipal bond new issue volume in the fall. Therefore it’s likely that the technical backdrop for the market at that time will be the complete reverse of what it was this summer when redemptions outstripped supply. These weaker technicals, combined with the growing swirl of political activity associated with the election and the increasing concentration on “fiscal cliff” issues, could make for a sloppy market this fall.
A Spanish person buying a house with a nice lawn is like an Irish person hiring someone to drink their beer.
prtraders says:
August 14, 2012 at 11:11 am
We’ve been looking hard now for a couple of months and were not able to find anything priced correctly. Finally decided to make market offers on overpriced homes. Found recent comps that sold for average $172/sq ft. Even offered a 20% premium on per sq foot basis to account for new paint, nice lawn, and as my wife says “move in conditions”. (Spanish is her first language) Still no luck budging sellers off their dream cash out. I don’t see how they can justify ignoring comparable sales, but its their choice and we move on. Not much new coming on right now so it looks like renting for one more year. One seller that finished off attic was adamant about going to the town to get her assessment INCREASED since they failed to note the additional sq footage of attic (approx 400 sq ft) and she felt that this was hurting her 450k asking when people saw town listing her property at 1352 sq ft.
“I don’t see how they can justify ignoring comparable sales”
…the “media” keeps telling them that housing is roaring again.
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Yes. Sloppy markets are like sloppy seconds. Sometimes, you just take what you can get.
Muni bond research, is sloppy market a technical term?
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http://www.trulia.com/homes/New_York/Atlantic_Beach/sold/190457-141-Flamingo-St-Atlantic-Beach-NY-11509
love the zillow estimate on this lovely home
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Hear that grim? You’re an “overly skilled blogger.”
There’s no inventory. I said it yesterday. It’s either pure sh1t with buyers looking for a dream payout/bailout price or pretty homes approaching mind-numbing prices. I shouldn’t have to walk into a 600K 4/2 split and shield my eyes like I’m watching a f*cking horror flick. I already lowballed one, I have no problem sending out stacks of offers as an uber qualified buyer. The buyer gets insulted? Too bad, let them wipe their @ss with it. There’s a reason mine sold within a week. And there’s a reason why I can stay patient longer then they can stay solvent. Stupidity su.cks but it’s not my duty to ease somebody elses pain.
Eddie,
There’s plenty of inventory in places where you apparently don’t want to live.
What towns are you looking in? Bergen County I bet.
Gary/PR Traders:
We searched for three years before we found a home priced fairly (I would actually call it underpriced as it appraised so low that the bank point blank asked me if there was something fraudelent going on when they appraised it for 26% over our purchase price). Remember, you are competing with sheep (see the monthly payment analysis Nicholas offered) who are fooled by stainless steel appliances, front doors painted red and a few annuals planted in a pile of black mulch. A few months is nothing. We actually purchased what was originally one of the most overpriced krapshacks that we saw. Fortunately for us, in the nine months from the time it was listed to the time we swept it up, it had fallen out of contract twice during inspection and had at the minimum, $15,000 in repairs performed. Oh, and the price dropped about $80K before we then offered them a final price $30K less than that. And then negotiated another $7K off after inspection. (Captain Cheapo to the rescue).
A good deal will not come easily or quickly. We made spreadsheets and figured out what the average price per square foot was paid for for every sale in Glen Ridge for the past two years at various size ranges as the price per square foot obviously lessens as the house gets larger. We knew we had done well when we ended up getting our house as the cheapest house per square foot sold in the last three years within a $100,000 price range. It helped that it had exactly what we were looking for too which was large rooms, a large dining room and living room and a two-car garage. With all of the money we saved (house was 120K under the top limit of our price range), we redid the kitchen and two bathrooms and turned a screened porch into our kitchen eat-in area and still finished 65K under our upper limit.
In other news, after another successful tax appeal on our Montclair multi, we are now paying only 18% more in taxes today than when we purchased the home in October of 2004. We have never used a lawyer and only once hired an appraiser.
Life is good. Be patient.
RIP Arnold Horschack….
http://www.nj.com/entertainment/celebrities/index.ssf/2012/08/ron_palillo_welcome_back_kotte.html#incart_river_default
Whodda thunk Abe Vigoda would outlive 2 of the sweathogs.
Ragnar,
I’m looking for 4/2.5 Center Hall Colonial in Saddle River in the 400K price range. Can you help me out? :o
http://www.realtytrac.com/mapsearch/bank-owned-properties/nj/bergen-county/saddle-river/
HEDGE FUNDER JOHN TAYLOR: Mitt Romney Blew It By Picking Ryan, And Now He’ll Lose The Election
Hedge funder John Taylor is on CNBC and expressing major disappointment in Romney for selecting Paul Ryan for being his running mate.
Why? Because he’s too open about wanting to cut Medicare, and that will cost the election.
Taylor thinks Romney would have been better for the economy, but that now he blew it.
Taylor even thinks that the budget cutting needs to be done, but that it’s a mistake to be so open about it.
Read more: http://www.businessinsider.com/hedge-funder-john-taylor-mitt-romney-blew-it-by-picking-ryan-and-now-hell-lose-the-election-2012-8#ixzz23XjBRDF7
Hello my family member! I wish to say that this article is awesome, great written and include almost all significant infos. I’d like to see more posts like this .
Lib – thanks for the encouragement. I don’t know what will be first. A home or my divorce! As practical, analytical, and plodding I am in my big decisions, she is impulsive, impatient, and narrow. Thanks to all the regulars on the board and especially Grim for all the great insight over the years.
“Taylor even thinks that the budget cutting needs to be done, but that it’s a mistake to be so open about it.”
Spoken like a true 1%er.
PR:
Remember, don’t sweat the stuff that’s wrapped into the mortgage. An extra 10,000 here or there is nothing amortized over 30 years (be one with the sheep).
Somebody necessarily help to make significantly posts I’d state. This is the first time I frequented your website page and to this point? I surprised with the analysis you made to create this particular publish extraordinary. Wonderful job!
#40: Except that Ryan has no history of actually DOING anything to cut the budget, he just talks a good game to the sheeple.
pr (42)-
Two words: wood chipper
“As practical, analytical, and plodding I am in my big decisions, she is impulsive, impatient, and narrow.”
Romney had no chance to wine the election, anyway. All he’s done now is guarantee the margin of defeat will be McGovern-sized.
The most effective vote remains the one with a bullet.
Wait until your garden-variety Amerikan retard leech gets some idea as to Ayn Rand was.
Game over.
How many dunces are checking Entertainment Tonight or Twitter for info on Ayn Rand?
Examination of the credit risk premium and a preliminary analysis of default rates and returns suggested that a static investment in default-risky portfolios of a single rating category might offer attractive risk-reward characteristics. We confirmed this in a series of simulations on historical data of buy-and-hold portfolios of single-rated bonds under several strategies for reinvestment of cash flows received prior to the maturity of the trades. To do this, portfolios were constructed annually from 2001 until 2011 for bonds of single rating categories ranging from single-A through single-B, with bonds in all portfolios having maturities of five-years or less.
Some citi bond research that only chifi will love
For comparison, we examined similar investments in one-month T-bills, five-year T-notes, and the S&P500 equity index. Average annual excess (over one-month T-bills) internal rates of return (IRRs) were computed for the annual five-year trades with reinvestment of early proceeds in either T-bills or T-notes until maturity. For the T-note reinvestment, average IRRs for trades initiated annually from 2001 to 2011 ranged from 2.5% for single-A to 3.8% for double-B portfolios with Sharpe ratios of 1.7 for single-As and 1.1 for single-Bs. From the five-year trades, we simulated annual trades with longer-horizons, with simulation periods ranging from one year for portfolios assembled in 2011, to eleven-year trades begun in 2001. For those simulations, all proceeds during a year from each trade were reinvested in the next year’s corresponding portfolio from initiation until 2012.
Oh, and speaking of prestigious Bergen County; the most exciting thing about touring a house is peaking in the garage to see a $70,000 car sitting there while the house hasn’t seen a paint brush since the Nixon administration. Talk about big hat, no cattle. Nothing says prestigious like a loaded Lexus SUV and raman noodle soup.
I heard Ayn Rand had the hots for Che Guevara. At least that’s what Noam Chomsky claimed.
http://tinyurl.com/don-t-fall-for-it-man
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Ragnar;
OT, just watched the AS Part I DVD last night; anticipating Part II release Oct 12. I didn’t care for the actor they cast as Jim Taggart in that role. He reminded me too much of “Edward” from those vampire flicks my wife made me watch.
E.M.,
The garden variety Amerikan retard leech already thinks he understands Ayn Rand.
Check out the Daily Kos – they’re now convinced that Ayn Rand has been the invisible hand guiding the Republican party over the last 50 years, the mastermind behind Halliburton, the Koch family, whatever. Sort of like how crazy people think the Bilderburgers and “trilateral commission” are secretly ruling the world. Somebody invented a story that Ayn Rand worshipped a serial killer, and by election time there will be a story about how Ayn Rand convinced Paul Ryan to become a baby cannibal.
Over the last 25 years I’ve discovered that only about 20% of Ayn Rand’s “big fans” even understand her philosophy, compared to about 1% of the people who say that they hate it. Religious conservatives, if they understand her philosophy, should hate her philosophy. She certainly strenuously opposed religious conservatives. Bleeding heart leftists should certainly oppose her philosohy, but they’d rather attack a straw man charicature of her philosophy than explicitly say that they are against reason, individual rights, egoism, and capitalism. (Actually they don’t mind admitting being against egoism and capitalism).
Anon,
I forced myself to watch the blu ray. It was slightly less bad than I expected. My wife actually liked it. I hear that Part 2 will have an entirely different cast from Part 1. That’s basically admitting total artistic failure, when you have two movies in two years and each part gets a new actor.
The only possible good coming from the Atlas Shrugged movies is that is inspires someone to read the book, which in my opinion is the finest novel ever written.
The main problem with this is that the movie spoils a mystery in the first 5 minutes that isn’t answered until the back-half of the novel.
I’m OK with Ayn Rand. Bitch couldn’t write, though.
ragnar (58)-
I think Scientology also uses all new actors for every propaganda piece they do.
I feel sorry for folks who read Ayn Rand, most of her books were just based on my junior high school essays I wrote. I had to spell out the big words to her.
ragnar (58)-
I think I’d have to put something Tolstoy or Dostoyevsky at the top of my list.
jj (61)-
Hickory, dickory, dock…Ayn Rand was…
We all know the rest.
obviously like your web site but you need to test the spelling on several of your posts. Several of them are rife with spelling problems and I in finding it very bothersome to tell the truth on the other hand I will definitely come back again.
Ragnar [58];
I disagree, but I’m not aware of all the circumstances. My sense is that they filmed on barely more than a shoestring, and simply didn’t have the money to commit the same cast to the entire series. Nor could they afford to pay the cast in the out years. Ironic though it may be, the film was designed to illustrate a viewpoint, not necessarily to be a mass market commecial success. The cast change can be distracting, but not unheard of. Remember when they swapped Harrison Ford for Alec Baldwin as Jack Ryan? You know, I didnt think of the spoiler aspect, because it wasn’t a spoiler once you get to the end of the book. I seem to remember that 60′ version of the Fountainhead being watchable, today in a period-piece sort of way. I didn’t even realize at the time that the teacher who showed it to us was trying to make a point.
Rand was made a pariah among conservatives for her anti-religious views; not just agnostinc, but anti-religious — She was ex-communicated by WFB, a devout Catholic.
And like Mr. Money, I think her ideas were better than her prose in certain places.
The story line of Paul Ryan finding Ayn Rand in his teenage years after the death of his father is very sad….
Too bad he didn’t kick back and just smoke a little chronic.
E.M.,
Do you really like Tolstoy’s and Dostoyevsky’s novels, or do you just think you should say you do. I liked War and Peace for the first half, then all the interesting characters were dead. Dostoyevsky was more interesting but full of drunk and depressed Russians (redundant I know).
The “higher class” literary novels I like include – V.Hugo (“93”, “Toilers of the Sea”), Nabokov (“Pale Fire”, “Invitation to a Beheading”, “Bend Sinister”), and most Jane Austen.
Many literary types like “The Fountainhead” as literature because of the angle on artistic integrity which they agree with. Stylistically it’s very different from Atlas Shrugged, which is even more all encompassing and integrated. If it was preaching collectivism, mysticism, and altruism, the intellectuals would be praising the novel as an artistic triumph. How many leftists intellectuals have criticized the childishly poor writing of Sinclair’s “The Jungle” or Bellamy’s “Looking Backwards”?
The intellectuals lost interest in Nabokov when they discovered that he wasn’t actually anti-American or in favor of child-molesting.
Re: Paul Ryan – Somebody wake me up when private insurance companies say they will cover the costs of your care after 65 years old for what is basically a food stamp voucher. Insurance companies do their best today to push the elderly who have coverage via their retirement program off onto Medicare as it stands now. There is no feasible way an actuary can come up with a loss pricing model that will work for folks over 65 without death panels to decide who gets the surgery and who gets a voucher for a coffin. Currently one Medicare recipient in three had surgery in the last year of life. Nearly one in five had surgery in the last month of life and one in 10 had surgery in the last week of life. I gather under the Ryan plan he wants the Doctors to cull the Boomer generation, since it won’t kick in for a decade. Perhaps it is a fitting end to their excesses when a Doc tells them that they won’t be getting a life saving surgery because they abused their bodies when they were young. You had better start a PX90 program now so your name stays off the death panel list of the future.
Wouldn’t it be cool if the Feds bust Sheldon Adelson for bribery charges when Romney and Ryan are both in the room collecting checks? We need a little excitement around this election cycle, somebody needs to be set up with a young dead boy or at least a Federal raid and a few perp walks.
Re # 61
You must be a lot older than I thought.
ragnar (68)-
I have a lot of flaws. Being an intellectual poser isn’t one of them.
I was also educated before I became stupid.
juice (70)-
Guys like Adelson own the gubmint. Highly unlikely.
it says in article that home prices rose 2.5% over last year making them less affordable, but inflation was around 2.5% over last year. they are the same amount affordable.
Affordability would be unchanged if savings accounts paid 2.5% and wages rose by 2.5% last year. As it is, people’s down payment savings (earning 0.01%) had their value eroded by inflation and they might or might not be making more money to put towards monthly payments.
http://www.northjersey.com/news/North_Jerseys_undocumented_immigrants_readying_to_file_for_work_permits.html
Please turn off the lights when you leave
Juice: It makes it easier when you accept that all those guys are the enemy and we lose no matter what happens. I think my attitude at this point is at least Paul Ryan is honest enough to be transparent in his method of fcuking us over versus the fascist Obamunists. Did you hear about Biden Gump today?
Juice Box says:
August 14, 2012 at 4:45 pm
Re: Paul Ryan – Somebody wake me up when private insurance companies say they will cover the costs of your care after 65 years old for what is basically a food stamp voucher. Insurance companies do their best today to push the elderly who have coverage via their retirement program off onto Medicare as it stands now. There is no feasible way an actuary can come up with a loss pricing model that will work for folks over 65 without death panels to decide who gets the surgery and who gets a voucher for a coffin. Currently one Medicare recipient in three had surgery in the last year of life. Nearly one in five had surgery in the last month of life and one in 10 had surgery in the last week of life. I gather under the Ryan plan he wants the Doctors to cull the Boomer generation, since it won’t kick in for a decade. Perhaps it is a fitting end to their excesses when a Doc tells them that they won’t be getting a life saving surgery because they abused their bodies when they were young. You had better start a PX90 program now so your name stays off the death panel list of the future.
Is Obama going to allow these people to kick in on the unemployment rate before the election?
freedy says:
August 14, 2012 at 6:50 pm
Please turn off the lights when you leave
Methinks chifi is coming over to the vote with a bullet party.
Baa. Baa. Doesn’t matter who you vote for. Even merely discussing the VP is a colossal waste of time. Biden claimed his plane got shot down in Middle East. Who really cares.
Clot,
I’m starting to really like Mikey. Best owner since Simon Jordan of Crystal Palace.
http://www.bbc.co.uk/sport/0/football/19225698
Chi – I give Congressman Paul Ryan credit for hugging the third rail. Problem is his personal motivations for me. He and his will be taken care of, with little pain even though he lives in a town where the hospital system and the school system are the biggest employers. If he really wants to fix things he will go for the other rail and deal with it like many countries have been forced too, do you see any Russian subs off the coast o Cape Cod anymore? The MIC and the rest need to chip in otherwise we are still doomed.
juice (81)-
Whoops. Ryan can’t cut the military, since he’s their whored-out butt boy. Same for TBTF banksters.
Look at Ryan’s votes: TARP yes, MIC yes. Easy to balance the budget on the backs of poor schlubs who have no pull.
Both parties are the same. Both have declared war on us. Both need to have their ranks thinned. By machine gun fire.
re# 76 – Chi forgot to answer about Biden, Bideon oh my i say…..I am still plugged in, sometimes I wish I would take my own advise and hit the beach until Labor Day. I promise to go away now (s00n) perhaps Thursday until Sept 3rd. I recommended it for any junkie here one njrereport….. Christ save me….
glute (80)-
Your owner is a soulless Amerikan fool.
The plan for Medicare Boomers is denial of access with the political blame put on Dr.’s.
Austerity for the sheep. Welfare for the primary dealer banks.
It’s all turning to sh_t. This can’t be denied. I think the while think falls apart within a year.
I would like to volunteer for the death panel for politicans.
#84 Clot
Aren’t they all. I clutch to the knowledge that we are still one of the more fiscally solvent clubs in the world.
#57 Ragnar
There is a still an open invitation for a debate on Rand. I still want to discus how life in the gultch works out.
#81 Juice
Ryans biggest issue is his congressional record. It’s nice when he’s talking the talk, but when they roll the tape on his the record, the defecit expanding votes will be the least of the issues that will hurt him.
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[48] money,
Worst case scenario is that Obama doesn’t win by a landslide. No mandate and ekes out win against weak candidate? The markets will drop like a stone and havoc will follow inside of a year.
gluteus (87)-
It is easy to remain solvent as a soccer club when none of the best players want to play for you.
plume (92)-
We’re totally effed under any electoral scenario.
No one will be spared.
No matter what, Klowngress will ensure we hit the fiscal cliff at terminal velocity.
Re: 92 – Comrade – re drop like a stone, march of 09 and he is still standing, methinks the masses forget the rest unless another crisis pops up.
[96] juice,
Market dropped like a stone march of 09, but no one blamed obama for that (even though it clearly seemed in part a reaction to his agenda). This time, it would clearly be a reaction to the fact that he will have no real depth of support, that he was the default candidate. A landslide seems to usher in a leftward tilt, but also certainty, which businesses can understand. So what if their taxes are higher? If sales are better, those can be passed through. But a weak Obama insures gridlock.
Boy, I did not expect this from Chip Bok
http://townhall.com/political-cartoons/2012/08/10/102704
Okay, inked the deal on a lease in PA. 8 room, 4 bedroom large expanded cape on 10 acres (nearly all of it growing hay). Horsey country; the girls can eat berries from the bushes next to the house, play all over the property and can pet horses and fish for bass on the greater compound (subdivision is all owned by family members; we are renting from one of them who lives across the street). Owner tells me that the pond is stocked and even the worst fisherman in the world (me) could catch fish. If it freezes hard, skating in winter.
Elementary school will be the new one that everyone raves about and that was stocked with the best teachers in the district.
Parkland all around for hikes, walks, horseback riding and mountain biking. Roads in the Brandywine area look great for road biking, but they are also really narrow so I am leery of biking Creek Rd. or the state numbered roads.
Best part is that the way we structured the lease and used our relo benefit means that the effective monthy rent is $1625 a month, less than half our current nut and 60% of the normal rent. Both sides also get a 90 day out after three months; if we buy a house, we aren’t locked in to the end of the term. It also means that the landlord could exercise it and limit us to 6 months, but that was what we wanted in the first place (he insisted on a year, not us).
So we move out of NJ in just over a month. And under the relo terms, once we move out, the relo co. picks up the PITI until closing. That takes the sting out of losing money on the house, even if the relo benefits are taxable.
Nom- sounds like a dream. Congrats to being a renter like me.
Nom, can I come out to your place when I want to test my grenade launcher?
Oooh, Ooooh, Mistah Kottah. I’m dead.
http://tv.yahoo.com/news/-welcome-back–kotter-s–horshack–ron-palillo–dies.html
[101] money,
Yup. The entire property is over 140 acres. Back side very secluded. You could lose a body there.
In fact, I’ll get the slit trench and bags of lime ready, just in case you get active.
PS, sent you an email re: Saturday
[101] money,
Oh, and enjoy the view.
Nom,
Holy sh_t that sounds too good to be true. How long is the commute? Are you sharing the property with someone?
103,
Have to admit I am jealous.
I hate being a homeowner in NJ. I have got to get more mobile but I am totally stuck at the moment.
I’m surprised to hear people think there is no good inventory in Bergen County. I’m seeing tons of nice stuff at bargain prices, at least compared to the late 2007 prices I remember. Maybe the towns we are looking at are in different areas. Lots of nice starter homes in our town as well for around 300K, maybe under.
Of course the flip side of this is that we bought in 2008 and our own value has dropped too much to make a move up appealing, boo. Wish we had rented and kept our cash, that’s for sure.