S&P Case Shiller home price data for April due out this morning. Consensus estimates have the 20-city composite up 10.9% year over year.
While we wait for the Case Shiller numbers, you can chew on the April home price report from LPS:
LPS’ April HPI Report: Home Prices Up 1.5 Percent from March, 8.1 Percent Year-Over-Year
US Overall – Up 8.1% YOY
NJ State – Up 3.7% YOY
NY Metro – Up 4.8% YOY
teatard nation: nice video of shirtless, shoeless grown men swinging at each other. not only the GOP base, but its future leaders as well.
@NewsBreaker: HUGE MESS: Kenny Chesney concert chaos in Pittsburgh
150 injured
10 fights
49 arrests inside
24 arrests outside
http://t.co/hM2u95rVgm
If I were at that show, I’d have tried to beat the crap out of Kenny Chesney.
Locus generation laments:
“Oh my God! I have wasted my life!”
http://finance.yahoo.com/blogs/the-exchange/done-baby-boomer-reveal-deepest-financial-regrets-225707221.html
@RBReich: Stocks and bonds hit by worries over China and Fed. But underlying problem is insufficient aggregate demand.
Anon (the brainless one) two can play at that game. Sure it is a little older than your article but still acts as a counterpoint. Stupid comes in all colors. Scrap I agree I would riot just beacuase I was there.
Obama voters
http://www.nydailynews.com/news/violence-erupts-south-street-seaport-drake-concert-nypd-called-halt-riot-article-1.182266
Prior Consensus Consensus Range Actual
20-city, SA – M/M 1.1 % 1.5 % 0.6 % to 2.9 % 12.0 %
20-city, NSA – M/M 1.4 % 1.1 % 1.0 % to 2.0 % 2.5 %
20-city, NSA – Yr/Yr 10.9 % 10.9 % 10.4 % to 12.3 % 12.1 %
Market Consensus before announcement
what is nyc area in case?
https://www.spice-indices.com/idpfiles/spice-assets/resources/public/documents/12473_cshomeprice-release-0625.pdf?force_download=true
12.1%?
Happy days are here again…..
Frigging new mover cold calls for the last few weeks like clockwork every morning. They never leave a message and just keep calling. One big FU to the water company or the cable company or whomever sold my info including my work and cellphone numbers.
I just got my info from Bloomberg…New York, weakest increase on the chart.
http://us.spindices.com/documents/indexnews/announcements/20130625/12473_cshomeprice-release-0625.pdf?force_download=true
Reposts
FOR GRIM:
What do you get a Polish web administrator that has everything for Father’s Day?
http://store.baconsalt.com/Bacon-Shaving-Cream_p_170.html
FOR JJ:
dude…..Bacon Astroglide…..
http://store.baconsalt.com/baconlube-tm-sizzling-six-pack_p_139.html
No Criminal Referral for Corzine?
NEW YORK (MarketWatch) — Former New Jersey Governor Jon Corzine could be facing charges from federal regulators as early as this week over his role in the collapse of MF Global, said a report in The New York Times on Tuesday, citing law enforcement officials with knowledge of the matter. The Commodity Futures Trading Commission, which had regulatory oversight of MF Global, is set to approve the civil lawsuit and has informed Corzine’s lawyers there will not be an opportunity to settle. Corzine was heading the firm, when it declared bankruptcy in 2011, over exposure to European investments. More than $1 billion in customer money disappeared in the last days of the collapse of the firm. Corzine has denied any wrongdoing.
Anecdotal observations from the backwaters of southwestern lower Michigan/South Bend, IN: old 1960’s ranch houses on lakes are being torn down and replaced with huge houses set into the side of the hills with multi-story decks and extensive landscaping. Small local businesses are expanding and are doing nice to have projects like re-paving their parking lots and many of the local farmers have new irrigation systems. That’s the positive. The negative is you still see many people who look poor. It does seem that the rich and the poor are increasing in number and the middle is going away.
criminal charges for Corzine?
surely you jest
I’ll believe it when I see it.
Corslime will walk. All this is happy talk to placate the four people who actually care about what Corslime did.
Fcuk up and move up. The new Amerikan sucksess story.
http://newyork.cbslocal.com/2013/06/24/new-jersey-under-attack-from-asian-tiger-mosquito/
HILLSDALE, N.J. (CBSNewYork) — New Jersey is under attack – not by annoying but harmless cicadas, but by a truly nasty creature that buzzes and bites with fury.
As CBS 2’s Christine Sloan reported, the Asian tiger mosquito made its way to the Garden State a decade ago — most likely on ships. And the mosquito is sure to take a bite out of your of July plans.
The mosquitos will not be found in the areas where spraying is going on, but in your very own backyard, buzzing around your barbecue.
Named for its striped black and white legs, the Asian tiger mosquito is aggressive and out for blood all day long.
“It’s going to ruin your backyard barbecue in the middle of the day,” said Pete Rendine of the Bergen County Mosquito Control Division. “They definitely bite during the day.”
With all the recent rain, North Jersey is a perfect breeding ground. And the Asian tiger doesn’t need much space, Rendine told WCBS 880 this past weekend.
“This mosquito can breed in a bottle cap,” said Rendine.
I-94 in Western Michigan is the bumpiest Interstate I’ve seen in my entire life….puts the BQE to shame……in the same vein…..Gary Indiana puts Port Newark/Port Elizabeth/Carteret to shame……
Outofstater says:
June 25, 2013 at 9:29 am
Anecdotal observations from the backwaters of southwestern lower Michigan/South Bend, IN: old 1960′s ranch houses on lakes are being torn down and replaced with huge houses set into the side of the hills with multi-story decks and extensive landscaping.
Wackiest round of golf ever was in Whitehall MI right at this time of year. We teed off at 7:15PM and I asked my friend what was the twilight rate…he said why? We were done at 10:15PM and it was still light out…….still EDT out and up there…..
19
Statler,
Is that article a joke? Is there really a Bergen County Mosquito Control Division?
Flip that house now or be priced out forever.
Doom (18): It has always been that way. I heard of a story from Aventis that one scientist was promoted over a more competent one because they did not know how to complete the most basic tests and they needed a warm body to do annual reviews, attend meetings, etc. The more competent scientist was needed as to help increase the department scientific output.
yes Joyce there is friends of mine worked for it in the late eighties early nineties it has been around forever
Hype I think half of the staff including one of my former bosses at out prior employer fits that description to a tee.
Pain,
I want to stay I’m somewhat stunned by that.
How large is their staff?
[4] comrade anon,
I don’t think that Reich tweet is supportive of your message of hope and change.
I assume you are planning to blame the underlying weakness on that running dog capitalist pig, George Bush. Because it has been over six years since the November Revolution, the narrative must be invented, er, uncovered, that places the blame squarely on the reactionary forces of the bourgeoisie, and can demonstrate in easy to understand ways how they are thwarting the progress envisioned by our glorious leader.
[1] anon,
You hear of country music fans in western PA rioting and you assume Conservatives???
You’ve obviously never been to Pittsburgh, or followed the demographic shift of C&W fans.
If you’re going to be elitist, try to be accurate. Or at least current.
AT&T Opening Two Research Centers in Bid to Spur More Innovation
AT&T Inc. (T) is opening research centers in Atlanta and Plano, Texas,
http://www.bloomberg.com/news/2013-06-25/at-t-opening-two-research-centers-in-bid-to-spur-more-innovation.html
Didn’t they just shut one in Florham park?
Not so large to show up as contentious line items in the budget but large enough that you would see the trucks all summer. hired seasonal help which was a works program for the children of the well connected. my buddies basically would drive around all day smoke pot and spray chemicals in old tires that had standing water.
Tell them you are a cheap SOB from Bronx and you will cut them if they ever call you again.
Juice Box says:
June 25, 2013 at 9:10 am
Frigging new mover cold calls for the last few weeks like clockwork every morning. They never leave a message and just keep calling. One big FU to the water company or the cable company or whomever sold my info including my work and cellphone numbers.
“How large is their staff?”
Joyce asks that of all her men.
http://money.cnn.com/2013/06/24/pf/emergency-savings
76% of Americans are living paycheck-to-paycheck
By Angela Johnson
June 24, 2013: 2:53 PM ET
NEW YORK (CNNMoney)
Roughly three-quarters of Americans are living paycheck-to-paycheck, with little to no emergency savings, according to a survey released by Bankrate.com Monday.
Fewer than one in four Americans have enough money in their savings account to cover at least six months of expenses, enough to help cushion the blow of a job loss, medical emergency or some other unexpected event, according to the survey of 1,000 adults. Meanwhile, 50% of those surveyed have less than a three-month cushion and 27% had no savings at all.
“It’s disappointing,” said Greg McBride, Bankrate.com’s senior financial analyst. “Nothing helps you sleep better at night than knowing you have money tucked away for unplanned expenses.”
If she uses the bacon astroglide it won’t matter….
Libtard in Union (Channelling JJ) says:
June 25, 2013 at 11:55 am
“How large is their staff?”
Joyce asks that of all her men.
http://www.nydailynews.com/news/crime/beating-caught-homeowner-nanny-cam-article-1.1381703
Can anyone provide some insight on what one can expect to pay on average for homeowners insurance in Bergen county for a so called “high value” home? What is the typical increase, if any, in premiums annually?
#37 Thank god for the tea party and the second amendment. Attacker was part of anon’s party and future leadership no doubt.
Essex County, figure around $1K for a 500K home (no recent claims). With decent coverage.
My rates go up about 4% a year. I change my insurer about every three years to get back to my original rate. There is no reward for loyalty in the insurance business. They raise their rates every year regardless of any incidents. Only suckers stay with their same insurer. Which is a shame, because I really liked how Met Life handled my claims on both my multi and my GR home after Irene and the Halloween storm. Unfortunately, they also raised my rates this year to claw some of it back. Toodles Met Life.
“Thank god for the tea party and the second amendment. Attacker was part of anon’s party and future leadership no doubt.”
Actually, if you squint real hard, he looks a bit like Colin Powell.
Check it out Grim. I was sick of not being in the know about my FIT EV.
https://docs.google.com/spreadsheet/ccc?key=0AoEcY86jtyq6dE9NQlBja21zZzBpMWtRbWl6Y18ybWc#gid=0
Lib [41];
Can’t believe that there are 4 people in Lockport AND Oneonta on the wait list. Must be the same 4 people. Between the roads and lack of infrastructure, that car just doesn’t make sense up there.
And the cold! The batteries stink in the cold.
$2,000 is least you will pay for a house worth over 500K from a good company with strong protection
$1,000 is a barebones policy
I have Metlife for both houses. They have me by the balls. Everyone dropped everyone on the Southshore starting around 2009 and it accellarated after Irene and Sandy.
When I insured the place I just bought ONLY Loyds of London would quote me. Then some no name insurance policy said they would do it if I bought a Flood policy same amount as homeowners policy which was expensive. Finally, Metlife lets a primary home add a second home in a barrier island only as an investment property. Which I took.
People forget the mortgage is BS, the homeowners, flood and property taxes can really kill you.
In a Condo you can add in unexpected assessments and rising maint. In a home rising landscaping, oil, gas water bills.
You have to watch them all or you are in deep doo doo. Go underinsured like me in Sandy and you get hit or go overinsured you just piss away money.
Ponderer says:
June 25, 2013 at 12:27 pm
Can anyone provide some insight on what one can expect to pay on average for homeowners insurance in Bergen county for a so called “high value” home? What is the typical increase, if any, in premiums annually?
#40
A 5k reward was just offered for this scum. Hopefully he “ain’t going back” and catches a case of lead poisoning. That’s the best conclusion that I can think of.
Forget infrastructure. At three hours to charge, you just can’t drive more than 80 miles round-trip from your home. You also have to drive slower to get the range. It’s a great car if you need not ride the highways. It will be our commuting car. The CX-9 will be the carpool car and old faithful (my Civic) is the distance car.
JJ…2K? It must be where you live.
What type of coverage do you have?
Essex County, figure around $1K for a 500K home (no recent claims). With decent coverage.
Concur with that figure for Passaic, Bergen, and Morris, give or take a couple hundred bucks depending on variations in coverage, additional riders, pools, accessory buildings, etc.
Lib [43];
If I had to guess, I’d say Manhattanties trolling the countryside (kind of like what I suggested).
Regardless of what you think of the vehicle’s practicality, you’d have to agree its an unappealing choice to get into a cold-soaked car at the end of the day when the sun sets at 5:30, facing a dark drive home on sloppy, lake-effect snow addled roads and have to choose between heat and lights to be confident you’ll make it all the way home.
JJ…on my primary….
410K coverage 1K deductible
1M personal liability
5K medical
$825 per year
on my rental….
627K coverage 1K deductible
1M personal liability
5K medical
6 month rental loss.
$1079 per year
I need to bump up my coverage on the primary a bit, but otherwise…I don’t consider this bare bones. What you got?
What insurance company? I am paying more.
Libtard in Union says:
June 25, 2013 at 1:22 pm
JJ…on my primary….
410K coverage 1K deductible
1M personal liability
5K medical
$825 per year
on my rental….
627K coverage 1K deductible
1M personal liability
5K medical
6 month rental loss.
$1079 per year
I need to bump up my coverage on the primary a bit, but otherwise…I don’t consider this bare bones. What you got?
Moose.
I’m with you. It’s gonna be a fun car. I plan on putting the most un-green bumper sticker I can find on it. Maybe a few pro gun and tea party stickers as well.
Anyone know where I can get this one?
http://mag.audubon.org/sites/default/files/imagecache/magazine_slide_and_article/photos/editors_note.jpg
Stu – I’ve got::
$425k dwelling coverage, $42.5k other structures, $255k property, $127.5k loss of use, $750 deductible
$1M personal liability
$5K medical
$911 per year via NJM (after discounts)
Pretty good deal. Perhaps JJ lives too close to Valley Stream and Freeport. :P
Thanks for your comments regarding the HO insurance. Well, based on your quotes, sounds like out mine isn’t bad after all. Although I’m not happy about another 20% increase in the renewal premium after they increased it just a few months ago by 20%! (For some supposedly high value dwelling valuation adjustment. I’m starting to get the feeling they may have low balled the initial quote to get the business and “make up” for it with these increases and more yet to come.) I think I need to speak with my agent. Anybody have thoughts/experience with American Commerce Insurance?
Grim – who is NJM?
What is NJM?
I am going to try to requote my house and new place. However, vacation place is four houses from bay, 11 houses from Ocean. Only 15 houses on block that runs bay to ocean. Agent who wrote it was surprised I got approved at any price.
re# 36- I know someone who moved to that neighborhood. My advise to them was it was too close to the hood, but hey it’s a train town and close to city they said. They were robbed B&E first month living in house while they were away at work. Now the house is alarmed. Soon they will all be hanging up their liberal hats and arming themselves after that home invasion.
Comments on patch run the gamut, check the link on Comment at the bottom same type of Home Invasion occured in Livingtston perhaps the same perp? Can I have my reward now?
http://millburn.patch.com/articles/livingston-home-invasion-sends-woman-to-hospital#comment_5661156
http://millburn.patch.com/articles/woman-viciously-beaten-in-home-invasion-police-say#comments_list
New Jersey Manufacturers – Used to be group coverage where eligibility was based on employer membership in the NJBIA or something, not sure what the current membership requirements are.
http://en.wikipedia.org/wiki/New_Jersey_Manufacturers_Insurance_Company
New Jersey Manufacturer’s
Speaking of insurance…any recommendations for life? If one is looking to do $1MM or so, would it be better to go $500M with two different companies (or whatever the medical checkup threshold may be…not that I’ve anything to hide as doc says I’m a pretty healthy chap) or is it worth the hassle to save on the premium.
perfect one for you Stu but may leed to the car being vandalized when you check on the rental
http://www.zazzle.com/you_lie_nobama_bumper_sticker-128993979334449541
I will add to previous question and ask, if you wanted to double your coverage from $1MM to $2MM, do you go out and solicit all new quotes or go back to current insurer and ask for another medical exam and a quote on twice the coverage?
You call me…..
Ponderer says:
June 25, 2013 at 2:13 pm
Speaking of insurance…any recommendations for life? If one is looking to do $1MM or so, would it be better to go $500M with two different companies (or whatever the medical checkup threshold may be…not that I’ve anything to hide as doc says I’m a pretty healthy chap) or is it worth the hassle to save on the premium.
63.
250k says:
June 25, 2013 at 2:21 pm
I will add to previous question and ask, if you wanted to double your coverage from $1MM to $2MM, do you go out and solicit all new quotes or go back to current insurer and ask for another medical exam and a quote on twice the coverage?
NJM really rocks ….a lot….
Anonthebad, 4,
Only overeducated ivory tower types can believe this Keynesian bs. Whining about inadequate demand is like saying you can get rich by spending more. Masters of the blackboard without a clue about how economies actually grow. Namely savings invested into profitable production, repeated into perpetuity. I took econ 101 too. Got a better grade on the final than the teacher, who had an error on his Keynesian score key. But I’m talking about reality, not fantasies cooked up by envious dwarfs like Reich and Krugmutt.
[52] lib,
Wouldn’t be a problem out here. It’s moneyed republicans far as the eye can see. The county sheriff even raffled off an AR-15 to fund a k-9 program. Needed to raise $30k. $20 a pop, and they weren’t selling until the media got hold of it and lambasted her. They then sold out of tickets in a week and could have sold a lot more.
Perps of the Millburn variety have two outcomes here: lucky or dead, and the odds for lucky are much steeper against than in NJ.
[66] Ragnar,
It isn’t even that. The Reich tweet lays bare the failure of Keynsian economics. I don’t even know why Tovarich anon posted it.
[62] pain
In Montklair? Not likely. But stu can always put this one next to it
http://www.amazon.com/dp/B0084SK5FK
That’ll keep them thinking.
Investment properties without capital gains on actual property are kinda silly.
Since I am in AMT I cant write off any losses associated with property. So declaring income means it will equal my costs when you factor in depreciation so the net is zero.
But looking at it if I depreciate property I owe taxes when I sell it as I have to unwind all that depreciation.
If one is in AMT what is purpose of even declaring income? Sounds like a lot of paper work that nets out to zero each year and then in end I get killed when I sell.
I used to date a girl whose Mom was an investor of single family homes and condos she rented out. She told me when I buy midyear I never declare them as a rental. I wait till the second year, which is a full year and then on April 15 of following year I know what I am doing with property. I dont want to buy a place in October, report November December income right away and declare it a rental and depreciated it for 2./12’s of a year as it is a hard bell to unring.
Was she right? Trying to figure is it worth it to call my new place an investment property in 2013. Who knows I may not always get rentals, I may sell it sooner than later. Seems like an awful big committment for no tax break in 2013.
If I had a few I could employ my wife and start writting off more stuff. But not with one.
It is outrageous that most benefits of owning an investment property starts to phase out at 100K and disappears at 150K.
I think this is why I see homes for rent in Hamptons for three holiday weekends plus all of fourth of July week. Basically 14 days. Just take the 14 days of year you get most rent and it is tax free and keep it as a non investment place.
There are so many hilarious comments to post from this article:
http://money.cnn.com/2013/06/25/real_estate/mortgage-math/index.html?iid=Lead
I think I’ll start with this one:
“Determining why those with poor math skills default on mortgages more often than others will take more research, but previous studies suggest that people who struggle with simple math also struggle with handling their finances, according to Gerardi.”
Dammit. Please send me to Russia to get Snowden and Putin. We don’t need a whole damn diplomatic corps to handle this crap. All we need is one red blooded rock ribbed American to get this crap straightened out real quick. Russia, China and Ecuador have crossed the damn line with this and there’s no way in hell they should get away with it and if we don’t watch it, that stinking liberal in the White House will let them.
As to you stinking liberals complaining about your 4th amendment rights and thinking Snowden is some sort of damn hero, STFU. Times have evolved and you don’t need the stinking 4th amendment if you have nothing to hide in the first damn place. Hell, as far as I’m concerned, the damn government can stick a damn cam in every orifice on my damn body and send a damn drone to fly over my damn house 24-7. Hell, I’ll even leave the damn curtains open and bright lights on. I ain’t got a damn thing to hide and I want the damn NSA to do whatever it needs to protect my ass. Where the damn government is overstepping its damn bounds is when they try to get me to register my damn gun or jam some damn healthcare down my damn throat. That ain’t protecting me, that’s infringing on my damn rights and I’ll run though hell in gasoline underdrawers before I let them do that.
#70..I may not follow….but depreciation happens whether you take it/claim it or not…I believe you’ll pay taxes on the eventual sale price – the depreciated value.
Damn Commies in China really make my blood boil letting this punk leave Hong Kong. They have to be made to pay. Someone had better remind them that buying our treasuries is a privilege they should not take lightly and if we have to, we won’t let them buy anymore of them. Bet that will get their damn attention.
Pat: you are anon too, right?
JJ….here’s your QB
http://www.youtube.com/watch?v=iiKZuCBW8iE
Lib [52];
I just ordered one. Yours at the next GTG (I hope you’ll have the wheels so we can have an improptu affixment ceremony).
Nom [68];
The leftists take “Stimulus” as an article of faith, and consider it just like Communism — they can’t admit that its failed everywhere its been tried, so they just tell anyone who will listen that it hasn’t really been done right [yet].
>> Washington and Moscow announced plans for the peace conference last month, but their relations have since deteriorated rapidly, as momentum on the battlefield has swung in favor of President Bashar al-Assad.
Washington decided this month to provide military aid to the rebels fighting Assad, while Moscow refused to drop its support for the Syrian leader it has continued to arm.<<
http://news.yahoo.com/syria-military-battles-rebels-eastern-damascus-115452207.html
First Snowden and now getting in the way on Syria. There's no telling what the damn Ruskies will do when it comes time to take down Iran. They're getting in the damn way and I'm damn tired of this chickenshlt in the White House trying to be "nuanced". The hell with that—it's time to send a missile up Putin's ass so he knows what damn time it is. If you let the Ruskies and those damn commies in Beijing get away with this crap, you never know when someone from some damn wuss country like Sweden or France starts feeling his damn oats and talking shlt. Yes, it's time to itch slap Putin so the whole damn worlds gets a damn example of what happens when you get in our damn way. Sending one rock ribbed red meat eating American like me over there to get this straightened out is all you need.
ragnar (66)-
Save your breath. The Keynesians have gotten control of the bus, and it ain’t stopping until it crashes into a bridge abutment. Which it will.
The likely outcome is the worst case outcome. My only hope is that the egghead liberals like Reich and Kruglin are the ones who catch most of the bullets in the civil unrest that follows the crash.
JJ [70];
I thought one of the old tricks in purchasing capital assets was to buy at the end of the year — then you get to take a full 6 mos. of depreciation.
And another thing — all you remember about the girl was what her mom did for a living? ‘Nuff said…
Grim is a fuking slacker…..this website has gone to sh!t……it’s just a bunch of spambots and trolls….fuk this!
Clot and the Randians are spambots?
Totally my next band name.
[80] scrapple
“My only hope is that the egghead liberals like Reich and Kruglin are the ones who catch most of the bullets in the civil unrest that follows the crash.”
Now you know the real reason behind the push to ban assault-style weapons.
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