The New American Household?

From the FT:

Immigrants boost US housing recovery

Home ownership in the US fell to a 17-year low of 65.3 per cent in the third quarter of last year, but among immigrant households – accounting for existing families and new arrivals – it has steadily increased. Typically purchased after renting for a few years, for many upwardly mobile immigrants owning a home is a symbol of economic success.

Although they represent close to 13 per cent of the US population, immigrants accounted for nearly 36 per cent of growth in home ownership between 2000 and 2010, according to a report by the Research Institute for Housing America and the Mortgage Bankers Association. While this has been driven mainly by the Hispanic community, other minority populations have also boosted gains.

The number of homeowning immigrant households is projected to rise by 2.8m in the decade ending 2020, compared with a 2.4m gain in the previous 10 years. They will account for more than 50 per cent of the rise in homebuying in six gateway states, such as California and New York, the report adds.

Economists have long said immigrants provide an important and growing source of new housing demand that could bolster the US economy, which has fuelled campaigns for legislative reform.

New immigration laws being debated in Washington could potentially increase the number of homeowners in the US by 3m over the next few years. Economists say new legal status for current non-citizens could result in a potential $100bn in new mortgage loans.

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

119 Responses to The New American Household?

  1. DL says:

    Friend in a Virgina McMansion told me her entire development is full of two and three family households.

  2. Mike says:

    Good Morning New Jersey

  3. Fast Eddie says:

    Friend in a Virgina McMansion told me her entire development is full of two and three family households.

    The New Normal.

    Any questions?

  4. grim says:

    Honestly, doesn’t seem all that out of the ordinary for me, having lived it.

    When I was very young, my grandmother lived with us, until she passed away. Have very fond memories of that, and technically a “two family household”.

    Growing up, my parents routinely hosted friends and family from Europe for extended stays here in the US (I’m talking about years at a stretch), and still do. In some cases, two generations at once, technically making theirs a “three family household”.

    Find it kind of disappointing that this kind of kinship and support seldom exists outside the immigrant population. They helped lots of people get a start and “make it” here, just like they were helped. They were part of a wave of immigration that included a huge percentage of their peer group overseas, and they all helped each other to get a foothold here. Most of the 300 people at our wedding were from my side, and I’d consider a good part of them family.

    Point a finger, ridicule, say it’s a sign of weakness all you like, but this kind of cooperation is probably the single best working social support system that exists today. They’ll bust their balls to make sure their kids are well educated, and they’ll be graduating without debt.

    Americans could probably learn a thing or two.

  5. grim says:

    Americans think they are entitled to a middle class lifestyle, at the minimum. Going to be a rude awakening for many. The immigrants? I’m not worried about them, they’ve got what it takes to get theirs. Sorry folks, being white isn’t good enough anymore.

  6. grim says:

    Chi said it more eloquently:

    …..in cold pragmatic terms, the middle class in the U.S. have to earn their middle class status. Most people are content to coast their entire lives, and ultimately, there is a price to be paid for that lack of vision. I apologize if it sounds terse and nasty, but the world is…..

  7. nwnj says:

    Panhandling and food stamps aren’t the only growth industries down there.

    Hunterdon authorities arrest 47, seize $1.25M in drugs as fight to combat heroin surge continues
    http://www.nj.com/hunterdon/index.ssf/2013/04/hunterdon_authorities_arrest_4.html

    Scrapple n’Ricin says:
    April 24, 2013 at 11:55 pm
    Funny. Why would anyone come to beg in a county where the only growth is in food stamp usage?

  8. Fast Eddie says:

    Americans think they are entitled to a middle class lifestyle, at the minimum.

    Which is why those of us with some financial ammo refuse to pay $650,000 and $14,000 for someone’s sh1t hole because house tour guides are telling us it’s “warranted” and “different” here.

  9. Smack is Hunterdon’s dirty little secret. Has been for over 20 years. I moved away from Frenchtown when a guy OD’d in the alley behind my house.

  10. Parts of Alexandria & Holland Twps are like the Colombian jungle.

  11. Fast Eddie says:

    As a kid, we didn’t have relatives living in the same house. They either rented apartments or had a house two doors away from one relative, another two doors from another relative and so on.

    Eventually they earned their way into the suburbs. They assimilated. Most of immigrants today seem to want to force their culture on us, convert us to Mogadishu, make their money and move back to “their” country. They talk about “their” country all the time. My Grandfather had an American flag hanging outside the house. I wonder if the Tsarnaev family did the same?

    And I agree about the entitlement mentality of white America but at the same time, for some of us white guys, it’s a huge disadvantage because we have to pay for everything… literally and figuratively.

  12. Multigenerational houses by choice, or by financial necessity?

    Big difference.

    Waiting on those McMansions to become SRO flophouses. Then we’ll know the decline is on for good.

  13. Gubmint’s plan is to bleed middle white Amerika dry through inflation and taxes, send our kids off to get killed in war and render us terrified in our own homes by supporting the criminal class and making it impossible to legally defend ourselves.

  14. Brian says:

    I’m willing to bet that are more of the multigenerational households are immigrant families rather than the “live royal” types splitting up mcmansions.

  15. Mike says:

    5 I’ve witnessed that on both my Mother and Father’s side with the Grandparents, and when the children could finally leave they purchased homes within blocks of each other.

  16. grim says:

    From MarketWatch:

    Jobless claims fall to lowest level in six weeks

    The number of people who applied for new unemployment benefits last week fell by 16,000 to 339,000, marking the lowest level in a month and a half, but part of the decline likely reflected ongoing seasonal distortions that usually occur each year in the weeks following the Easter holiday and spring break. Other economic data suggest there’s been little change in the U.S. labor market and perhaps even some softening. Economists surveyed by MarketWatch expected claims to total a seasonally adjusted 351,000 in the week ended April 20. The average of new claims over the past month, which smoothes out weekly volatility, dropped by 4,500 to 357,500, according to the Labor Department. That’s the lowest level in three weeks. Also, the government said continuing jobless claims decreased by 93,000 to a seasonally adjusted 3.0 million in the week ended April 13. Continuing claims reflect the number of people already receiving benefits. Initial claims from two weeks ago, meanwhile, were revised up to 355,000 from an original reading of 352,000, based on more complete data collected at the state level.

  17. DL says:

    The VA friend is near Ft. Belvoir and she claims the families are not related but pooling cash to pay the mortage. In Cherry Hill N.J where my mother lives, it’s more Asian multi-generational in business together.

  18. freedy says:

    what about union city,w.ny,and fairview?

  19. Jill says:

    All those who tout this kind of “rugged individualism” where all you need is a gun are fooling themselves. Try being socked with something like a cancer diagnosis in your household. Even simple things like an aide 4 hours a day so you can hold onto your job, or a social worker to keep the patient from committing suicide, or a nurse to look at a catheter, costs $$$. Not many people have that, and not many people today are wanting to get their hands dirty cleaning urine capture bags. Your gun isn’t going to help you there unless you plan to kill the patient. Unless you have a job where they will accommodate you, good friends, and maybe a sibling or two to help out, and some money in the bank to pay for consults at cancer centers, you are SOL. It’s easy to talk tough when it’s not your household. These immigrant extended families are onto something. It’s time we got off our spoiled-ass high horses and take note.

  20. DL says:

    Re 20. Exactly. Reason wife and I are returning to U.S. is because we have family and friends who will (hopefully) help if we need it as we age. Europe, with all it’s socialized medicine and social services, can work if you have the cash. Otherise you’re nothing more than a slab of meat. I once read an article on the best place to retire and it said it’s the place where people love you.

  21. Brian says:

    Jill I think you are on the right track and I agree with most of what you’ve said. However I think the term “rugged individualism” refers to a positive quality in Americans. Taking personal responsibility should be encouraged.

  22. JJ says:

    Chinese 30 something married folks basically use their parents for free childcare and to cook and clean for them in return they are their indentured servants

    Tom Jefferson treated his help better.

  23. Painhrtz - Doc Daneeka says:

    Count me in as someone who grew upp in amultigenerational household. At one point in my life there were 4 generations in one house. don’t see much wrong with it. My hope is that my kids will not have to experience it but the way the world is going I expect to get my in laws at some point

  24. Brian says:

    I posted this on 4/3 but it seems relevant to today’s discussion. Basically, the author uses Hans Rosling’s statistical data to show how the infant death rate drops in all industrialized nations. As a result, people generally have fewer children. So, in order for the US to have enough working age population in the US to support growth, and support the aging population, immigration should be encouraged. Xenophobia is only harmful to the US.

    http://njrereport.com/index.php/2013/04/03/immigrants-to-be-the-driving-force-behind-recovery/#comment-548812

    There is significant research on how immigrants are more likely than native born Americans to start their own business and be successful. This is a very good thing for the entire country because of the jobs, wealth, and tax contributions that these businesses create, and the obvious desire would be to encourage more entrepreneurial-minded immigrants to come and stay. We need to seek out these future American success stories, encourage them to come, and encourage them to stay and open businesses here.

    For this to happen, however, some things must take place:

    1.Entitlements must change – if people can contribute to the economy until they are 70 or eventually 80, they should. The age to receive social security should be raised in accordance with the average national age, with another metric, the “average national productivity age” also factored in. The latter metric should reflect the % of jobs available that are knowledge based vs. manual.
    2.The U.S. must follow a sensible immigration policy, without any trace of xenophobia, but with an emphasis on attracting the best and brightest to our country. We need to aggressively pursue and recruit those who will contribute to the country, but be firm in requiring those who are allowed entry to work and contribute to the tax base. Another metric would be useful here, the “average contribution per person”, measuring the monetary contribution towards society of an individual over a lifetime, minus the withdrawals from society in terms of entitlements. Another interesting metric would be the “average contribution per family”, which would average the withdrawals from a single mother on welfare with the contributions of her children whom she put through college, as an example.
    3.America needs to pursue business friendly policies that encourage the startup and growth of businesses, rather than seeing businesses that grow much larger than a corner restaurant as evil capitalist entities that must be taxed into submission.

  25. DL says:

    The immigrant you want is not always the immigrant you get.

  26. JJ says:

    People also forgot you have to look the part too. I was watching on netflix some episodes of that TV show White Collar. Takes place in Manhattan and the extremely good looking white alpha male con man gets away with all sorts of cons and stuff.

    Sure he is very smart. But 99% of stings is he looks good in suit and is a very good looking white male.

    The asian, black, indian, white etc ladies all want to do him and guys want to be him.

    I would say for the straight A average Asian male student the bigger problem is they all blend together. All same color hair, same eye color, roughly same height and weight, very few stand out.

    For instance when I was up on podium addressing crowd a few weeks ago I have 1/10’s of second to see who was in audience of a few hundred. I saw a very pretty outgoing well dressed smiling Chinese girl. A polished professional looking African American girl. 1-3 blond girls and 1-2 “white collar” type good looking trader type guys.

    The rest 90% of crowd was almost sterotypes. Asian, plainly dressed, thick chunky glass, wont make eye contact, wont give you a straight answer, lots of maybes and did not possess the gift of gab, blarney what ever you call it. Also very little socialization skills. The few I spoke to stuck hand out blabbed about their courses and what they want to do and tried to awarkly give me a card.

    Meanwhile for intance the one hot asian girl. She had style she only asked about me. Guys my age we like to talk about ourselves. Then she threw it to why would I want to do your career and next thing I know I am selling her on working for me. I knew I was getting conned. But I liked it. I hate folks who beg, I should want you not the other way around.

    I had one brillant on paper girl once, but her whole Mao Tse Tung type look was a killer, I hated having to tell folks in meetings she had a 4.0, speaks different languages had multiple certifications. Because she did not look part people asked.

    Meanwhile many years ago I once did a consulting gig at Boeing for a few days. Other than sitting on planes what do I know. But I put on my best suit, most expensive watch, best briefcase took over meeting and got away with enough that they paid my bill rate of $500 an hour. If you dont look the part like guy in White collar very hard to to.

    I would say that is last advantage the declining B student non hard working white folk have. If you have a good business name and the gift of gab and are good looking and play the game you are far ahead of mr. Xospco Shah with straight As from Bronx HS of Science and Harvard

    You folks think it is a bad thing the aisan/indians/muslims are not assimilating, I got news it is all that is keeping you employed. If they took american names, joined a regular christian church, spoke perfect english and went to American Sporting events and played golf etc. You would be done. The fact they have kooky names, dress funny, have accents and heat up really smelly curry stuff in company microwave is only reason you still have a corner office. Cause they are more educated than you and if they could master these little social things you would be out on the street.

    Brian says:
    April 25, 2013 at 8:48 am

    Jill I think you are on the right track and I agree with most of what you’ve said. However I think the term “rugged individualism” refers to a positive quality in Americans. Taking personal responsibility should be encouraged.

  27. JJ says:

    Grizzly bear Edwards sees gold at $10,000, S&P 500 at 450
    April 25, 2013, 9:14 AM

    Albert Edwards, strategist at Societe Generale, is out Thursday with a note reiterating his cheerful forecasts of the S&P 500 going to 450, 10-year yields falling below %1 and gold rising to $10,000 an ounce.

    Why the prediction of a 70% decline in the S&P 500 and a nearly six-fold increase in gold?

    “Policymakers’ efforts to manage the economic cycle have actually made things far more volatile.” Edwards wrote, adding “We may have seen the peak of nominal US GDP growth for this cycle. An unfolding recession should see 10y bond yields dragged ever lower and the Fed moving to QE infinity (squared).”

    In addition, “holding gold is a bet against central banks competency and given their track record that’s certainly a bet I’d be happy to still take.”

    Edwards noted that “US bond yields are still in a pronounced technical downtrend,” and while he expects 10-year rates to fall below 1%, a rebound to 3% still wouldn’t break the downtrend.

  28. Brian says:

    I think you might be the ‘riff raff” that they are trying to discourage from living there. I guess it’s working.

    9.Fast Eddie says:
    April 25, 2013 at 7:56 am
    Americans think they are entitled to a middle class lifestyle, at the minimum.

    Which is why those of us with some financial ammo refuse to pay $650,000 and $14,000 for someone’s sh1t hole because house tour guides are telling us it’s “warranted” and “different” here.

  29. Juice Box says:

    JJ new 30 something programmer guy working for me originally from india is driving a new yellow camaro. I didn’t have the heart
    To tell him that was a car for kids in high school.

  30. chicagofinance says:

    What separates Japan from the US is an open society……they are our parallel universe…..

    Brian says:
    April 25, 2013 at 8:56 am
    So, in order for the US to have enough working age population in the US to support growth, and support the aging population, immigration should be encouraged. Xenophobia is only harmful to the US.

  31. DL says:

    Re 31: If you ever saw the Jingle Trucks that move supplies through Pakistan to Afghanistan you’d compliment him on his understated taste.

  32. chicagofinance says:

    Essence of John……caustic, not politically correct, slightly incoherent, too much truth to ignore……the most interesting man in the world……

    JJ says:
    April 25, 2013 at 9:05 am

  33. Brian says:

    Who Mark Zuckerberg Turned to for Immigration Help

    http://www.bloomberg.com/news/2013-04-22/who-mark-zuckerberg-turned-to-for-immigration-help-.html

    Former Facebook executive Chamath Palihapitiya’s personally experienced what it’s like dealing with two immigration systems — Canada and the U.S. That was a key reason why Facebook Chief Executive Officer Mark Zuckerberg asked him to help lead a group called Fwd.us that will lobby for immigration changes, Palihapitiya said in an interview on Bloomberg West.

  34. joyce says:

    20

    Jill

    Your rant would have made a hell of lot more sense if you didn’t try to tie in guns and self defense.

  35. JJ says:

    If you have cancer, no money no health insurance and no friends or family to help you the problem will be solved very quickly or you could go all Walter White

    Jill says:
    April 25, 2013 at 8:37 am

    All those who tout this kind of “rugged individualism” where all you need is a gun are fooling themselves. Try being socked with something like a cancer diagnosis in your household. Even simple things like an aide 4 hours a day so you can hold onto your job, or a social worker to keep the patient from committing suicide, or a nurse to look at a catheter, costs $$$. Not many people have that, and not many people today are wanting to get their hands dirty cleaning urine capture bags. Your gun isn’t going to help you there unless you plan to kill the patient. Unless you have a job where they will accommodate you, good friends, and maybe a sibling or two to help out, and some money in the bank to pay for consults at cancer centers, you are SOL. It’s easy to talk tough when it’s not your household. These immigrant extended families are onto something. It’s time we got off our spoiled-ass high horses and take note.

  36. yome says:

    As a Immigrant to this country I can attest that immigrant support to relatives and friends works very well for the good of its citizen and the country.
    Everyone I know lived with relatives or friends when they first came to the country.I myself and my wife with my eldest son,lived with my brother in law for 5 years until I saved enough to buy a house.My brother in law lived with his sister until he was able to afford to buy a house. My brother lived with me for 2 years while he was reviewing for the Cal bar exam.He now have is own business in Ca.

    We used a retired relative’s Mom to be a live in help for the kids while we were working.My kids never experience being dragged in the cold winter to be brought to a baby sitter.What I paid her is half what it would cost me to pay an 8 hour baby sitter for one kid.To them it is not the money.It is being able to help a relative what ever they can.And we do that too. We send money to relatives in yhe old country that need help sending their kids to school or in need during an emergency.This all sound crazy for someone that grew up here but with this support system we all are able to achieve our American dreams.Our kids all went to College with good jobs today.My kids call so many Uncles and Aunt ,I know we are not related just close friends

  37. JJ says:

    Sounds good on paper, but I have one neighbor across street who does that and he has cars all over street, eight trash cans out every day and people coming and going all the time. It is very annoying.

    Neighbors would rather have the typical couple with two kids, Dad works in City, Mom is a stay at home wife two kids. The coming and goings of multinational households is annoying. Also it is illegal to pay help off the books and below minimum wage so for the most part that is a crime. It is also illegal to have two families in a one family zone and then we get multiple kids in school district from a supposed single family house jacking up taxes. The Mexicans and other Hispanic and Indian cultures are bad at this. My dream neighbor is a couple with no kids, highly taxed house, no kids who work long hours in city and go away on vacation.

    yome says:
    April 25, 2013 at 9:35 am

  38. Brian says:

    No overnight on street parking in town. Problem solved.

    39.JJ says:
    April 25, 2013 at 9:45 am
    Sounds good on paper, but I have one neighbor across street who does that and he has cars all over street, eight trash cans out every day and people coming and going all the time. It is very annoying.

    Neighbors would rather have the typical couple with two kids, Dad works in City, Mom is a stay at home wife two kids. The coming and goings of multinational households is annoying. Also it is illegal to pay help off the books and below minimum wage so for the most part that is a crime. It is also illegal to have two families in a one family zone and then we get multiple kids in school district from a supposed single family house jacking up taxes. The Mexicans and other Hispanic and Indian cultures are bad at this. My dream neighbor is a couple with no kids, highly taxed house, no kids who work long hours in city and go away on vacation

  39. yome says:

    This is when we were starting to build our American dreams.Today we live the life you describe.No one I know became a burden to society.

    JJ says:
    April 25, 2013 at 9:45 am

  40. grim says:

    Assimilation doesn’t mean abandoning your heritage. Grandmothers all across JC spent their Sundays making gravy.

  41. Fast Eddie says:

    Brains [30],

    News flash: I’m solvent, they aren’t.

    Any questions.

  42. Libtard in Union says:

    At the turn of the last century, my great grandmother’s family came to America to escape the pogroms in the Ukraine. Here parents both died on the ship so she was an Ellis Island orphan. As the story goes, the only personal belonging she had besides the clothes on her back was a large cast iron pot, which I finally through away after college. The thing weighed like 10 pounds. No one even knew her name or birthday, so they named her Mary (funny name for a Jew) and gave her the birth date of January 1st 1900. She lived to be almost 90 and I fondly remember her peasant cooking skills dearly. She made the best Mămăligă I’ve ever tasted and used to make real hot chocolate that was simply divine. Ultimately, she gave birth to my grandmother (still alive in her 90s) who was the hardest working person I know to this day. She never sat down. Really! Her couches looked brand new 60 years after she brought them. She had a dishwasher that was never ever used from the 40s in her kitchen. Ultimately, she had three kids. One daughter embraced the hippie culture of the 60s and amounted to nothing. Her son, died a few years ago, but ran a gas station in Lynbrook/Malverne area to pay for his sport fishing habit. No one expected it, but his funeral was attended by thousands. You make a lot of friends bartering car repairs for other goods and services apparently. Finally, her other daughter, my mom, was the smartest of all. She married rich (would have made JJ proud) unfortunately, her inlaws had money, but raised my father as a spoiled lazy douchebag. My mom had four kids with him and promptly divorced him when I was six months old. She found a great new husband in my step father, who unlike her former husband, had an incredulous work habit, which was necessary, as he got custody of his three kids from his former marriage and had to feed the five of us. For what it’s worth, he’s the healthiest, most active 80 year-old in his retirement community in Boynton Beach. Raising seven kids will keep one on their toes.

    If you work hard and value education, America is still a fantastic place to make the dream happen. If you think someone is going to give it you as you sit on your fat butt, forget about it.

  43. Libtard in Union says:

    Sorry for the 100 grammatical errors there. Didn’t have time to proof read. man was that an ugly one.

  44. xolepa says:

    Grim, My parents were born in the old Soviet Union, a decade or so after the Bolsheviks waged mass murder and brought chaos to an otherwise civilized uncorrupted population. Their parents were born before the Revolution and all made it to this country after WW II. My paternal grandfather was able to purchase a 3 family in Newark, when Newark was beautiful, within 2 years of arrival. He sold it at the right time. It took my maternal several more years to buy something similar, also in Newark, but he was raising 5 kids. He sold at the wrong time.

    My father’s father was working at a low wage job in Newark until he retired. He was discriminated against and could not join the unions – he was a mason in the old country. The co-workers made fun of him because of his lack of English. Little did they know he was retiring into an all brick 2-family in Somerset County.

    Well, my brother and I were brought up as immigrants. Didn’t speak English until we entered kindergarten. My whole earl years centered around the diaspora.

  45. JJ says:

    Flash forward to 2013 and Russian Moms who bring Sons to the USA are not as highly prized

  46. Ragnar says:

    As a white guy who married into a Chinese immigrant family
    Grim (5,6) Right on
    Jill: individualism and voluntary cooperation/mutual support are compatible.
    JJ(23): You are full of crap.
    JJ other: in terms of recent college grads, immigrants or children of them have been very high achievers in interviews and at work in my observation. They are even getting better at the BSing and gladhanding that your white guys outperform on. Your stereotypes are out of date.

  47. Brian says:

    Newsflash. The Fed will devalue your solvency through inflation. At the same time the fed will use inflation to devalue their debt and increase the value of their leveraged hard asset. Duh?

    43.Fast Eddie says:
    April 25, 2013 at 9:55 am
    Brains [30],

    News flash: I’m solvent, they aren’t.

    Any questions.

  48. Comrade Nom Deplume, Bostonian says:

    Damn, I had better get back to work.

  49. xolepa says:

    JJ. Not Russian.

    Libtard, genocide works both ways: http://en.wikipedia.org/wiki/Lazar_Kaganovich

  50. Fast Eddie says:

    Brains,

    The Fed will devalue your solvency through inflation.

    You think I’m sitting in cash? You don’t think my investment is earning a return greater than inflation? Duh!

  51. Libtard in Union says:

    Xo:

    “genocide works both ways:”

    It sure does.

  52. JJ says:

    Sometimes I wish I married an asian girl. They keep their bodies hot well into their 60s while the white ladies get saggy right after first kid. Plus husbands dont have to do so much chores.

    I agree they are getting much better at social skills. But still stuff like football, drinking, going to beach, picking up chicks at bars, getting summer houses they lack at.

    They also are very private people. I had chinese single people work for me for several years and they are super great workers. But interesting around two years in my daughter asked me about them and I could not tell her do they have a girl friend or boy friend, are they even straight for that matter, what religion they are etc. Not that I need to know or care. But somehow by never sharing any information whatsoever, bringing pictures to work, opening up I never get to really know them. When it comes to making Partner, Officer or SVP they reach the Asian Ceiling sometimes as at that point to let a person join the club you have to know that person.

    Suprisingly the Japanese are very good at this. All my Japanese workers were very proud of their spouses, kids, activities, GF/BF and I knew them very well. They even asked about my kids, took me to their favorite restaurants etc.

    Not all chinese are like this. One shared their miscarriage story with me, I shared my story with a miscarriage etc. Stuff like that gets you that close bond. Sometimes you dont get your 9/11 story or Sandy story to bond you together you have to go and make it and Chinese are still not good at that.

    For instance my outgoing buddy wanted to be a trader when he was an IT person. He found company he wanted to work at then found out guy in charge of trading desk was young, single liked to work out, he belonged to same gym, He started spotting him, they did chit chat, he invited him to a big party at his place and slowly worked into conversation a few months down road about trading and guy “convinced” him to quit job and join his desk.

    Asians are not there yet. I can’t imagine and Asian I worked with doing this. Maybe some of Japanese, they are really good at business. The Japanese deal a lot with German and American firms. They really get it.

    JJ other: in terms of recent college grads, immigrants or children of them have been very high achievers in interviews and at work in my observation. They are even getting better at the BSing and gladhanding that your white guys outperform on. Your stereotypes are out of date

  53. xolepa says:

    From my layman world view, the children of Asian-Indian immigrants will assimilate faster into the American culture than the children of Chinese immigrants. But then again, I live in Hunterdon. What do I know?

    All immigrant parents from those areas of the world are in for a culture shock, once the kids get educated here.

  54. Happy Renter says:

    [44] “the only personal belonging she had besides the clothes on her back was a large cast iron pot, which I finally through away after college. The thing weighed like 10 pounds.”

    Too bad. It’s your family history after all, not mine, and I’m not the one who would have had to lug around a 10 pound cast iron pot each time I moved in my 20s, but that would have been a heck of a family relic for you to pass down the generations.

    I have stuff from my orphan shepherd boy turned immigrant grandfather, but nothing that he brought with him from the old country (which is because he brought nothing but some clothes and a little money, so I am told).

    [5] “Find it kind of disappointing that this kind of kinship and support seldom exists outside the immigrant population.”

    Are you kidding me? Half of the so-called Millennial Generation is still living with Mom and Dad. There is plenty of kinship and support; there is a serious deficit of responsibility and hard work on the part of the younger generation, and the older folks are as much to blame for that as anyone.

  55. Libtard in Union says:

    My son’s idea of hard work is having to carry his own ice hockey equipment, stick and water bottle into his super-expensive ice hockey clinics.

  56. DL says:

    37: “If you have cancer, no money no health insurance and no friends or family to help you the problem will be solved very quickly or you could go all Walter White”

    Not always true. My brother volunteered to be my bone marrow donor.

  57. Comrade Nom Deplume, Bostonian says:

    [56] JJ

    Clearly, too lightweight to work in your office, eh?

  58. MADRID (AP) — With over 6 million unemployed for the first time ever, Spain’s jobless rate shot up to a record 27.2 percent in the first quarter of 2013, the National Statistics Institute said Thursday, in another grim picture of the recession-wracked country.

    The agency said the number of people unemployed rose by 237,400 people in the first three months of the year, a 1.1 percent increase from the previous quarter. The total out of work stood at 6.2 million people, the first time the number has breached the 6-million mark.

    Unsurprisingly, the details of the report make for grim reading.

    The number of people considered long-term unemployed — out of a job for more than a year — increased to 3.5 million while the unemployment rate for those aged under 25 was a staggering 57 percent. The government body also said its survey found the number of households without any one working had risen by 72,400 to a 1.91 million.

    http://news.yahoo.com/spains-jobless-above-6-million-first-time-111922081–finance.html

  59. JJ says:

    The Boston Bombers widow only personal belonging besides the clothes on her back is a large cast iron pot

  60. They should cap that bitch just for being a gullible idiot.

  61. JJ says:

    Corporate bond prices worldwide are poised to set a record as easy money policies by central banks push investors into riskier investments even with the potential for losses at about an all-time high.

    Bondholders are paying an average of 110.22 cents on the dollar for the right to receive 100 cents back at maturity plus the interest from coupon payments, according to Bank of America Merrill Lynch’s Global Corporate & High Yield Index. At the same time, the so-called effective duration that measures how sensitive bond prices are to changes in yield has jumped, making the securities about the riskiest to hold ever.

    Investors are paying about 152 cents on the dollar for Citigroup Inc.’s $2.5 billion of 8.125 percent debentures that mature in July 2039

  62. All Hype - Mr. Oil, Mr. Gas, Mr. Coal says:

    Ricin (61):
    Spain is a failed state. Only the free money of central banks buying their debt and maybe some tourism cash is keeping them from becoming Somalia.

  63. Comrade Nom Deplume, Bostonian says:

    Seen on another board:

    “They’ll get my pressure cooker when they pry it from my cold, dead hands.”

  64. Libtard in Union says:

    For what it’s worth, we have 2 pressure cookers at home. We’ll trade one of them for safe passage.

  65. joyce says:

    Lawmakers, aides may get Obamacare exemption

    http://www.politico.com/story/2013/04/obamacare-exemption-lawmakers-aides-90610_Page2.html

    i thought the house of lords was already exempt

  66. chicagofinance says:

    Rags: You have the pleasure of working in a meritocracy. I think you may be a little bit insulated. My first job was with a midsized actuarial firm. I felt as if I worked at a large corporation, but when you deal with industrial strength corporate politics and institutionalized social constructs, players such as JJ excel…….if what he says sound like an anachronism, then consider yourself really fortunate.

    Ragnar says:
    April 25, 2013 at 10:22 am
    As a white guy who married into a Chinese immigrant family
    Grim (5,6) Right on
    Jill: individualism and voluntary cooperation/mutual support are compatible.
    JJ(23): You are full of crap.
    JJ other: in terms of recent college grads, immigrants or children of them have been very high achievers in interviews and at work in my observation. They are even getting better at the BSing and gladhanding that your white guys outperform on. Your stereotypes are out of date.

  67. chicagofinance says:

    Rags: I apologize. I thought you were referring to 28.

  68. chicagofinance says:

    One difference I noted between South Asians and the Chinese is the use of English. The South Asians in many instances will talk English among themselves. I don’t know if it is a sign of education, social strata, or the fact that the English culture is so well entrenched into upper society there…….many Chinese will revert back to the mouth-tongue among family……..from my anecdotal experience……

    xolepa says:
    April 25, 2013 at 10:56 am
    From my layman world view, the children of Asian-Indian immigrants will assimilate faster into the American culture than the children of Chinese immigrants. But then again, I live in Hunterdon. What do I know?

    All immigrant parents from those areas of the world are in for a culture shock, once the kids get educated here.

  69. Painhrtz - Doc Daneeka says:

    Joyce all of the favored classess are being exempt from that boondoggle the rest of us well the only thought that comes to mind is Jennifer Connely at the end of Requiem for a Dream without the lube.

  70. Jill says:

    DL #21: It’s easy to talk about the people who love you taking care of you until either you are that caregiver or the person who needs one. This is all very nice in theory but in practice, trying to hold down a job while providing care to a very ill family member without burning out is all but impossible. Having to ask a family member to empty bedpans and drain cath bags and the like is hard to do also. People who think their children will be able to take care of them are delusional. Between jobs, kids, and other demands, no one can do it all unless you have a very large, very close-knit family where at least one person is a nurse and another one a psychologist.

  71. bergenite says:

    The stereotype of immigrants should be though in a bi-modal setting. While there are many who pursue to game the system and use the social benefits only, there are fewer but much more educated who bring value to the society.

    I am working in a R&D setting that houses 1000s of PhD’s, 60 percent of the first-generation immigrants. With their extended families, they pay significantly more tax dollars compared to other folks living in the nearby counties.

    They are all trying to assimilate to this country, and trying their best to have their kids capture better opportunities. Lets give them a break, let them enjoy their ethnic foods, let them use ‘kooky’ English. It is better than pizza/burger every night and listening the ‘white trash’ talk you hear everyday on the radio.

    Just look out who is waiting in front of Kumon’s, to find who are trying hard to get the highest level for better academics, better scores, better education.

    Finally, try getting a white boy win the spelling bee contest once in a while.

  72. If you don’t grab all the opportunity available to the young in this country, rest assured the military will end up sending you to some hellhole Third World jerkwater to get your ass shot.

  73. We’re way behind on the numbers of our own that need to be killed off.

  74. JJ says:

    I only excel because I think and read at lighting fast speeds. That comes from 20 years of education without ever studying. Reading into questions, guessing what answer is, glancing at other papers, crib notes, being able to read a text book cover to cover in one hour. All things you learn from picking up the textbook for first time 45 minutes before final exam.

    I went to a management training program with a 4.0 and 3.97 graduate in it, when a question was asked they are trained to think, to ponder and come up with right answer. My mind is just to blurt it out. Right or wrong out it goes, I can read with comprehension 6,000 words a minute. Yup I took speeding reading, could read faster than teacher. If drove other kids nuts. When I did sales I always had an answer. When you dont yup, pause freeze up, say get back to you. Guess what right or wrong people think you are right.

    BTW I hate losing. Damm 4.o kid was furious when we did speed reading I was making him look like a fool so he cheated to beat me. Well that fool is a fool because next time I cheated too, however since I can read at triple his speed I got test done first. I think it would be like 12,000 words a minute. Teacher was like you could read the bible in like three minutes. I was like I guess if I took a break half way through.

    Thank god the internet did not exist back then as the world record is 10,000 wpm and I did 12,000 in that fly by.

    I messed with the 4.0 guy two weeks later, we had some test and I was flirting with secretary instead of going home studying and then went out drinking when we had a test at 8am. I let him see me bsing and stuff. Little did he know I noticed the carbon copy of test was in SVPs garbage. While I helped secretary lock up I snatched then loudly let everyone know I was going out drinking as the 4.0 guy was staying late in the office. I did go drinking. Of course got up at six am memorized test and answer for 45 minutes on way in using speed reading over and over as you get 50% comp each time then walk then walked in hung over with a large coffee talking about last night. I nailed test in like three minutes. I had to go quick as it leaves my mind quick when I speed read, I then told 4.0 guy easiest test ever. See you outside. Well idiot sweated over test for like an whole hour, last to leave second guessing himself.

    He gets like a B- his lowest grade ever. Next day he accuses me of cheating and doing it just to mess with his head. I go damm right I did, you did it when I was speed reading so you mess with me I mess with you. I got more tricks then this. Guy backed off and apoligized.

    I hate losing.

    chicagofinance says:
    April 25, 2013 at 1:24 pm

    Rags: You have the pleasure of working in a meritocracy. I think you may be a little bit insulated. My first job was with a midsized actuarial firm. I felt as if I worked at a large corporation, but when you deal with industrial strength corporate politics and institutionalized social constructs, players such as JJ excel…….if what he says sound like an anachronism, then consider yourself really fortunate.

  75. Painhrtz - Doc Daneeka says:

    Scrap friend of ours 22 year old wants to join marines here was my diatribe to him

    look [name] there are no shortcuts in life and while I can respect the fact that you want to join the service there are some basic facts you fail to comprehend at your young age. First, you don’t have a college degree, while there is no shame in that, it just about ensures you will be getting shot at by brown people at the end of basic. Second and don’t take this the wrong way your a pu$$y. Sure they will beat that out of you and turn you into a weapon of war but sensitive kids like yourself usually end up with PTSD or in a clock tower if you survive. Third the marines offer no tangible skills other than taking orders and shooting people. Sure you may learn communications, some computer crap but marines serve one purpose and one purpose only to destroy. Lastly if you are intent on joining the service look into the coast guard or airforce, branches that are much safer and far removed from flying lead projectiles that can offer you some real word skills once you determine that crap is not for you, which you will.

  76. Juice Box says:

    re: # 74 – Whiteboy? What is ironic about your comment is the South Asians from India are in fact the eastern most settlement of the “Caucasian” race, if you are from there you are in fact a descendent of my ancestors meaning my great granddaddy a few dozen generations ago was screwing your grandmother.

  77. bergenite says:

    Re: 79 – nope. wrong guess. I am white actually. It has a higher chance that likely my ancestors were taking your grand-grand-grand-…-aunts, or they actually came willingly to be a part of the harems of my ancestors.

  78. Juice Box says:

    Pain – Score on the test they give for each branch called MOS determines allot. Do you know if he did well?

  79. Juice Box says:

    re # 80 – Except that I hail from from Ueigsfjord or Loch Gorman. My Viking ancestors were most likely pillaging and plundering and yours.

  80. JJ says:

    I hope not I once saw an indian p0rn movie for like 15 minutes, not a pretty sight.

    Juice Box says:
    April 25, 2013 at 3:09 pm

    re: # 74 – Whiteboy? What is ironic about your comment is the South Asians from India are in fact the eastern most settlement of the “Caucasian” race, if you are from there you are in fact a descendent of my ancestors meaning my great granddaddy a few dozen generations ago was screwing your grandmother.

  81. joyce says:

    Perhaps, you should pick up a dictionary and read slowly the definition of “comprehension.” Also while you’re there, look up “bullsh*t artist.”

    JJ says:
    April 25, 2013 at 2:58 pm

    “I can read with comprehension 6,000 words a minute”

    “it leaves my mind quick when I speed read”

  82. Comrade Nom Deplume, Bostonian says:

    [77] JJ

    “I hate losing.”

    How could you hate something you never experienced?

  83. DL says:

    Re 73: It’s hard for sure. My mother was caregiver for my father for 13 years after a stroke kept him bedridden/wheel chair bound. It was hard on the entire family. Not sure when or where I read the statistic but here in Europe the majority of elderly needing full time care north of the alps are in assisted living homes whereas in the U.S. the majority of those needing nursing home type care are taken care of by family. That could be simple economics, it’s too expensive in the U.S. for most families to afford professional care, or it could be something else.

  84. JJ says:

    Definition of COMPREHENSION
    1a : the act or action of grasping with the intellect : understanding
    b : knowledge gained by comprehending
    c : the capacity for understanding fully
    a : the act or process of comprising
    b : the faculty or capability of including : comprehensiveness

    No where does it state a time period. If I speed read and take a test immediately I can answer questions correctly with high comprehension. I may have forgot most of stuff a few hours after test.

    However, I once took a Earth Science class I found very interesting, I studied no short cuts read all material and found it enjoyable. I had great comprehension on test. However, in spite of not speed reading or short cuts around six months later I forgot it all as opposed to six hours later. Who cares.

    As I said to the girl with big breasts there real if I can touch them. Just like saying that.

  85. JJ says:

    True, but I had a tie once and it nearly killed me.

    Comrade Nom Deplume, Bostonian says:
    April 25, 2013 at 3:35 pm

    [77] JJ

    “I hate losing.”

    How could you hate something you never experienced?

  86. (83)-

    Now on my short list for post of the year.

    “I hope not I once saw an indian p0rn movie for like 15 minutes, not a pretty sight.”

  87. Painhrtz - Doc Daneeka says:

    juice I’m sure he did OK or will do OK has not enlisted yet. He is not a moron, just not the type of kid you see in the marines. Worst part is he has some low level medical training which means corps man and the joy of getting shot at with no rifle of your own.

    recruiter is selling usual shovel full to him.

  88. Anon E. Moose says:

    Scrapple [76];

    We’re way behind on the numbers of our own that need to be killed off.

    I thought that’s what Margret Sanger was all about? Cleaner and cheaper to do before they’re even born. Our Total Fertility Rate would tend to bear this out, more so when you separate native born from immigrants.

  89. xolepa says:

    (89) Actually, the Indians were far far ahead of any Western civilization when it comes to p – o – r – n. There are numerous rock sculptures in India showing very ‘interesting’ poses. They were sculpted about 600 years ago during a period of well, sexual liberalism. I can’t offer a link. I’m on a corporate address.

  90. Juice Box says:

    Pain the test is everything the ASVAB since he is 22 and hasn’t hit the books in a while means he may not do well at all. A score of 80 pretty much guarantees he will be manning a mountain top FOB in butfukistan.

    http://usmilitary.about.com/od/marines/l/blusmcasvab.htm

  91. grim says:

    Actually took the ASVAB on a whim, and did extremely well, I was hounded by recruiters pretty aggressively (they scheduled appointments with me, at home, multiple times). I knew zero about the military at that point, like I said, I took it on a whim, not really ever intending to enlist. I’ll say, I actually considered it briefly, but once I understood the difference between non-commissioned and commissioned, enlisting seemed like a bad move. If I was really serious about it, I’d have done at least a BA/BS at a school with a ROTC program.

  92. Spend a year in Irvington or Camden. If you make it through alive, they should give you a medal.

  93. Juice Box says:

    Whomever invented plus size lulemon needs to be
    Drawn and quartered.

  94. grim says:

    96 – I’m not convinced that the see-through yoga pants were an accident.

  95. Juice Box says:

    Lt. Grim has a nice ring.

  96. Juice Box says:

    98 – Grim most of the time the eye candy in
    Hoboken can’t be beat. I will miss it.

  97. Juice Box says:

    Grim what is the biggest tip you ever got in your jar?

  98. That crazy fcuk with the bomb has been in my store.

    Note to self: begin heavily profiling all customers with Russian accents.

  99. Get your sorry ass out of here and go blow up Putin if you want to make things right with allah.

  100. Juice Box says:

    Anecdotal – mortgage rate we locked in was 3.62 on a 30 year and now we are working on a 3.48 renegotiation. Amounts to about $91 a month lower payment.

    Anyone ever do better besides Ms. Wanatabe?

  101. Move along; nothing to see here.

    “We are confident that in the aftermath of our article from last night “Just What Is Going On With The Gold In JP Morgan’s Vault?” in which we showed the absolute devastation of “eligible” (aka commercial) gold warehoused in JPM’s vault just over the Manhattan bedrock at 1 Chase Manhattan Place (and also in the entire Comex vault network in the past month), we were not the only ones checking every five minutes for the Comex gold depository update for April 25. Moments ago we finally got it, and it’s a doozy. Because in just the past 24 hours, from April 24 to April 25, according to the Comex, JPM’s eligible gold plunged from 402.4K ounces to just 141.6K ounces, a drop of 65% in 24 hours,and the lowest amount of eligible gold held at the vault on record, since its reopening in October 2010!”

    http://www.zerohedge.com/news/2013-04-25/jpmorgans-eligible-gold-plummets-65-24-hours-all-time-low

  102. Grim says:

    Austerity = Fail

  103. Happy Renter says:

    Europe = Fail

  104. Juice Box says:

    Grim – I am now a proud sponsor of an EU family moving to Florida. They won’t be collecting any kind of check from the GOV.

    Do the same for yours if you can.

  105. Comrade Nom Deplume, Bostonian says:

    Can’t really happen again. Clearly, a greedy outlier, right?

    http://money.cnn.com/2013/04/25/smallbusiness/doctor-quit-healthcare/index.html?iid=HP_LN

    Right? I said Right? Bueller?

  106. Krugman says:

    I tried to tell you guys.

    Grim says:
    April 25, 2013 at 7:50 pm
    Austerity = Fail

  107. Ragnar says:

    Scrapple,
    If the indian porn had been better, JJ would only have needed to watch 5 minutes instead of 15.

  108. Ben says:

    Austerity doesn’t work in the face of decades of reckless deficit spending. Austerity works brilliantly if its done from the get go. You can’t build an economy with decades of consistent government spending embedded into it and then suddenly pull it and expect good results. It’s like trying to untangle a giant stereo cable. I’d say every engineering firm I’ve ever heard is heavily based upon winning some sort of military contract to do god knows what. If you slash the military budget, every engineer is out of a job. Ultimately, it would be a good thing, as we would force our industries to get off this government sponsored subsidized mess we’ve developed. The transition to a healthy economy would be extremely painful. No one in Washington has balls, so it will never happen.

  109. Comrade Nom Deplume, Bostonian says:

    [111]ben,

    Which is why we are all fcuked.

  110. I would honestly like to see some independent analysis on the issue on the issue of whether casinos can be a good thing for a community. Not just opinions and feelings.

  111. Great article! I am sure this is going to help a lot of people

  112. I rarеly cоmment, howevеr і dіd a
    few searching and wound up here The Neω Amerісan Household?
    | New Јersey Real Estаte Repoгt.
    And I actually ԁo havе a couρle of questions for you if you do not mind.
    Is it ѕimply me οr does it
    look as if like a few of the rеsponѕes
    loοk like written by brain dead vіsitors? :-Ρ And, if уou are wгiting on additional plaсes, I would like to
    follow anything fгesh yοu hаve to рost.
    Woulԁ you list of eνeгy one of уοuг ѕociаl ρages like youг lіnκedin profilе, Facebook page or twittеr feed?

  113. The New American Household? | New Jersey Real Estate Report Charles Barkley Shoes http://cheapcharlesbarkleyshoessale.webnode.com/

  114. The New American Household? | New Jersey Real Estate Report new kobe bryant shoes http://www.newkobebryantshoes.us

  115. The New American Household? | New Jersey Real Estate Report nike hyperdunk 2013 http://nikehyperdunk2013.webnode.com/

Comments are closed.