NJ on the way to Number 1!

From the Star Ledger:

NJ may soon lead nation in foreclosures

New Jersey may lead the nation with the highest percentage of foreclosed homes by the summer.

“It’s just a matter of time,” said Mark Fleming, chief economist for CoreLogic, an online analytic firm that released new data yesterday.

Since the housing market crash in September 2008, Florida has had the highest percentage of mortgaged homes in foreclosure, while New Jersey has ranked second.

At the start of 2013, 10.3 percent of the Sunshine State’s homes with a mortgage had completed the foreclosure process. In New Jersey, the figure was 7.2 percent.

But Florida has been moving through the process at a much faster rate than New Jersey, according to Fleming.

In the past 12 months, nearly 119,000 homes completed foreclosures in Florida as compared with 5,138 in the Garden State.

The percentages of foreclosed homes last month were 6.7 and 6.5 respectively.

“New Jersey may top the list within the next six months,” Fleming said.

This entry was posted in Foreclosures, New Jersey Real Estate. Bookmark the permalink.

171 Responses to NJ on the way to Number 1!

  1. anon (the good one) says:

    “For most of the 20th century, the student body at Stuyvesant was heavily Jewish. A significant influx of Asian students began in the 1970s.

    For the 2013 academic year, the student body was:

    72.31% Asian and
    21.44% Caucasian,
    1.03% African American and
    2.34% Hispanic.”

  2. grim says:

    Tom – You need to do some digging into why there is an active, concerted effort, to stop foreclosures in NJ, and print it when you come to the same realization that we have. NJ’s poor urban areas are facing absolute destruction once the pipeline opens. Newark, Oranges, Paterson, Irvington, Camden – These towns will make Detroit look like a great place to live. We’re not talking about thousands of evictions, we’re talking about tens of thousands of evictions. There are neighborhoods where every other house is facing foreclosure, these communities will be decimated and thousands will be homeless.

    There isn’t an “if” we will be at the top, it’s a “when” and we’ll get there much quicker than 6 months.

    And once we’re there, we’ll never get off.

    NJ’s foreclosure pipeline is being actively stopped for fear of what will happen once it opens again. In typical NJ style, those behind this thought that we could get out of the situation by kicking the can down the road, I’ll all be fine tomorrow. Instead, we find ourselves with fingers in the dam holding back an onslaught of foreclosures in these areas.

    Do a little bit of research into how many homes have been foreclosed under NJ’s accelerated foreclosures for abandoned homes legislation (Signed by Christie in December 2012 – and applauded by democrats like Lesniak). The landmark legislation that was supposed to get us out of the mess. I think you’ll be surprised when you see the numbers.

  3. Street Justice says:

    Grim, you ought to post that in the comments section on the nj.com website or email the author. There was a q and a session recently with senator sweeney where you could post questions and he would answer them but my question about the issue was ignored….

  4. jj says:

    10-year Treasury yield sinks to nearly 3-month low
    MARKETWATCH — 7:08 AM ET 01/31/14
    NEW YORK (MarketWatch) — Treasury prices climbed Friday, sending the yield on the benchmark 10-year Treasury note (10_YEAR) to its lowest level since early November, as investors flocked to safe assets. The 10-year note yield fell 3.5 basis points to 2.658%, while the 30-year bond (30_YEAR) yield fell 3 basis points to 3.604%, and the 5-year note (5_ YEAR) yield fell 3.5 basis points to 1.505%.

  5. Street Justice says:

    Sh1t if you don’t I will. Probably better if you do it though as you can back it up with data and speak about it with more authority than I ever could.

  6. anon (the good one) says:

    Tom – you should also follow up as to why Newark, Oranges, Paterson, Irvington, Camden kids are taking Chifi’s and Moose’s kids place at Princeton

  7. grim says:

    I posted it there just so others could read it, but I’m sure that the author pops in here occasionally.

  8. Street Justice says:

    NYC school cuts popular gifted program over lack of diversity: report

    http://www.washingtontimes.com/news/2014/jan/30/nyc-school-cuts-popular-gifted-program-over-lack-d/

  9. jj says:

    Trouble is the majority of Jews who graduated in the 1970s had really good business sense and did a lot with the Stuyvesant degree. Majority of Asian students start off strong in business but hit a wall early in career.

    For example two first generation chinese super straight A students top schools who are now both around 29 or 30 dont watch football. Ok I get that but not even the Superbowl. One does not even have a TV at home. She listens to Chinese music and watches Chinese shows and for instance left early for Chinese New Year.

    Problem is Irish Folk are not step dancing at work, Germans are not eating big pretzles and drinking out of steins. Assimilation is the key.

    Their boss likes football, their bossess boss likes football and up to CEO likes football.

    When I graduated college they told the women Watch the Superbowl, final game of World Series etc no matter how much you hate sports cause come the Monday meeting everyone is talking about it and sitting there looking stupid hurts your career.
    Other asian thing and I had this problem with two of them. Is how important Education is and Certifications are. I had one or two who did MBAs on my dime and one did a ton of certifications. To do this it comes out of the cost center to pay for it and they blow out the door earlier a lot of nights.

    Then come bonus and raise time they want to be rewarded. It is as if Asians growing up do very little work. No snow shoveling, no fixing stuff around house, no part time jobs, no helping cook, do laundry and clean dinner. But they study night and day and when they get straight A’s they get praised and rewarded and given cash. Some come to work force with same mentality. No you dont make SVP honey by plastering your cube wall with MBAs and Certifications you get there for hard work, net working and smoozing and politics.

    The best asians by far I had work for me and I mean the best of any nationality I had a few whose dads owned business in flushing or canal street and did not get straight As but pretty good grades and busted butts working in Dads store all through Junior High through College. Man those guys are good. The once who never work who get $100 checks for every A – are a nightmare

    anon (the good one) says:
    January 31, 2014 at 8:05 am
    “For most of the 20th century, the student body at Stuyvesant was heavily Jewish. A significant influx of Asian students began in the 1970s.

    For the 2013 academic year, the student body was:

    72.31% Asian and
    21.44% Caucasian,
    1.03% African American and
    2.34% Hispanic.”

  10. chicagofinance says:

    a disaster…..

    jj says:
    January 31, 2014 at 8:23 am
    10-year Treasury yield sinks to nearly 3-month low

  11. chicagofinance says:

    JJ: With apologies to Ragnar…… I know one too many asians with an undergrad in finance, MBA in finance, and a CFA…….#1 how many times can you earn the same sh!t, #2 they couldn’t project manage making a sandwich……

  12. Michael says:

    JJ, exactly what I was saying the other day. Hard work, NETWORKING, smoozing and politics get you to the top. The degree is needed to gain access but networking is everything. Someone can’t get you into the position if you don’t have the qualifications(aka degree). So as long as you have the degree, networking with a some hard work does the rest. Without networking, you aren’t going anywhere. You have to know someone to get the best jobs and positions. You are lying if you say otherwise.

    “No you dont make SVP honey by plastering your cube wall with MBAs and Certifications you get there for hard work, net working and smoozing and politics.”

  13. jj says:

    Chifi at least folks today are getting their first paycheck without that damm SS witholdings. That should boost spending tonight at Harrys

  14. Libtard in Union says:

    Street Justice:

    When my first son was in kindergarten in Klair, he was much better equipped than the majority of his classmates since he spent the first four years of his life raised in a education-centric childcare center in Bloomfield (7:30am to 6pm, five days per week). He already knew how to read, write, do some math, knew his colors and shapes, etc. He had also done homework every school day since he was three. When I saw his assignments, it was obvious that kindergarten in Montclair would be all review as he waited for the non-daycare and child-centric (real popular in Klair) daycare kids to catch up. I asked his 70 year old teacher (who was taking in six figures) if she could do some differentiated teaching. Her answer was a flat out, “No, we don’t track kids in Montclair.” That is when we immediately started putting offers on houses in the Ridge. Sure there are some hippy-dippy creative types where we currently live as well, but it’s much more seldom and not the standard like it was.

    I know Michael, it’s because the lower income kids didn’t have the same opportunity for daycare, only it was free for them at the Montclair Pre-K (yup, our taxes as well as an income-based tuition covered their bill). The sliding scale tuition was so high for my son that it was still cheaper for me to send him to daycare in Bloomfield without any taxpayer subsidies or penalties on the higher income parents. I wonder why that is?

  15. Lurker says:

    holy shit! JJ with a post that was not completely BS?!? the end is very nigh indeed

    jj says:
    January 31, 2014 at 8:23 am
    10-year Treasury yield sinks to nearly 3-month low
    MARKETWATCH — 7:08 AM ET 01/31/14
    NEW YORK (MarketWatch) — Treasury prices climbed Friday, sending the yield on the benchmark 10-year Treasury note (10_YEAR) to its lowest level since early November, as investors flocked to safe assets. The 10-year note yield fell 3.5 basis points to 2.658%, while the 30-year bond (30_YEAR) yield fell 3 basis points to 3.604%, and the 5-year note (5_ YEAR) yield fell 3.5 basis points to 1.505%.

  16. yome says:

    Is this where California style Eminent Domain comes in? Who says NJ lacks affordable housing?

    grim says:
    January 31, 2014 at 8:11 am
    Tom – You need to do some digging into why there is an active, concerted effort, to stop foreclosures in NJ, and print it when you come to the same realization that we have. NJ’s poor urban areas are facing absolute destruction once the pipeline opens. Newark, Oranges, Paterson, Irvington, Camden – These towns will make Detroit look like a great place to live. We’re not talking about thousands of evictions, we’re talking about tens of thousands of evictions. There are neighborhoods where every other house is facing foreclosure, these communities will be decimated and thousands will be homeless.

  17. Happy Renter says:

    [1] Clearly then, we need to discriminate against Asians.

    God forbid we treat people as individuals and judge them by the “content of their character” and their performance and achievements.

    In fact, we need the government to mandate a United Colors of Benetton look in every group of 5 or more people assembled anywhere, at any time, for any reason.

    Also, can we look into taking some more of that Asian money and redistributing it? It’s not fair that they stepped off the boat not speaking English, slaved away working at building their own businesses, scrimped and saved, raised children and instilled the values of family, hard work, and education in them, and are now reaping the benefits of that success. Remember, there’s a fourth-generation welfare recipient out there with government housing, government food, government cell phone, and government health care who cannot afford a Playstation for little Bebo, and his self-esteem is suffering because of it.

  18. Libtard in Union says:

    Am I going to have to refinance for the 4th time in ten years into a ten-year on my multi? Damn. I thought I nailed the bottom to the day. :P

  19. Libtard in Union says:

    Bebo would probably try to smoke the Playstation.

  20. Anon E. Moose says:

    Happy Renter [17];

    God forbid we treat people as individuals and judge them by the “content of their character” and their performance and achievements.

    It was something to hear lead counsel for the heirs to the civil right’s movement stand before the Supreme Court and argue that Michigan’s constitutional amendment barring any racial preferences actually discriminated against minorities because — get this — they had a constitutional right to seek and obtain preferential treatment.

  21. joyce says:

    2
    grim

    Are there any statistics on who holds the mortgage paper in the soon-to-be Detroit sections of NJ?

  22. Ragnar says:

    Continuing the school discussion. Thanks to the person who dissed Pingry about the multiple tutors. It makes me feel better about not spending 30k/yr to send my kid there. The kids I saw there seemed bright enough, but they really lay on two big things: sports and public service. Even though I’m sure they also teach service in public school, they are soaking in it at Pingry. They even make a prospective student’s parents sign some document promising to support their save the earth, save the poor agenda, so that your spoiled kids promise to pretend like they really live for “the community” and various third world villages. Great preparation for being a lying hypocritical politician or Goldman Sachs banker, but it was pretty disgusting to me.

    Funny observations from this week’s parent pre-preparation night for students entering Bridgewater middle school in fall. Front rows of the auditorium were dominated by the Chinese and Indian parents. More of the white parents socialized with one another in the back. Most of their questions from Chinese and Indians to the principal were about how their kids get into or stay assigned to the advanced classes, and related issues. Most of the questions from the white parents were about how their kids get into sports teams, or similar less important stuff.

  23. yome says:

    Drinking the water produced by Hydrogen car emission

    http://www.youtube.com/watch?v=aj0-eAAmvxk&feature=youtu.be

  24. grim says:

    21 – Suspect that would be something easily done for a shop like RealtyTrac who is scouring public record filings in every county. I wouldn’t have any way to do it other than pure legwork, and I’m not interested.

    You could look at the sheriff sale records and put together a list that might be somewhat indicative of the major players. That is biased, of course, as it would only include lenders that have pushed properties towards a sale. Those in default but not yet scheduled (or sold) wouldn’t appear.

    Highly likely the list would look like a ranking of market share of the subprime players from back in the day, just trace it out to who is now responsible for the servicing … liability, etc.

  25. xolepa says:

    (15) Please do not judge JJ that harshly. He is entertaining, yes, but he is quite spot on with his forecasts. Well, most of the time. Hmmm, Maybe some of the time. Just kidding, JJ.

    On the other hand, JJ, those MBA kids didn’t do it on YOUR dime. They did it on the company’s dime. I don’t think any of my superiors from Merrill Lynch (circa late 70s) as having foot the bill for me.

    JJ, you can’t make that association – ‘I = Company’ unless you have truly skin in the game. What’s skin in the game mean? It means if company fails, they take your house.

    Got skin in the game?

  26. grim says:

    How do you make the hydrogen that powers the fuel cell?

    Does the hydrogen fairy deliver it in the middle of the night?

    Or do massive steam reforming plants located at natural gas refineries process dead dinosaurs to create the pure hydrogen needed to power the fuel cell?

    In order for us to work in a hydrogen fuel cell powered world, there is only one answer.

    Frack, baby. Frack.

    Burning hydrogen in a car is clean, because the dirty work is done somewhere else.

    Only stupid hippies (that didn’t study chemistry) that think drinking the output water vapor from fuel cell is some kind of miracle.

  27. 30 year realtor says:

    #2 Grim said “NJ’s poor urban areas are facing absolute destruction once the pipeline opens. Newark, Oranges, Paterson, Irvington, Camden – These towns will make Detroit look like a great place to live. We’re not talking about thousands of evictions, we’re talking about tens of thousands of evictions. There are neighborhoods where every other house is facing foreclosure, these communities will be decimated and thousands will be homeless.”

    My curiosity is what percentage of these properties are owner occupied? My experience is that the vast majority of these homes are 2 to 4 units and less than half are owner occupied. Writ of possession evictions (type of eviction related to a foreclosure) are only enforceable against former mortgagors. NJ offers the highest level of protection for tenants in foreclosed properties of any state in the country.

    My current experience with REO clients is that they will allow former owners to pay rent and stay in 2 to 4 unit properties if they feel it is advantageous to them. The advantage may be a faster sale or protection from potential vandalism. In all cases former owners and tenants are offered substantial financial relocation assistance (cash for keys).

    Currently there is no shortage of investor buyers seeking income producing 2 to 4 unit properties for cash flow. These buyers exist in the worst inner city areas and the most desirable suburban locations.

    I do not believe you are exaggerating the number of potential completed foreclosures in the inner city areas of NJ. I do believe you are overstating the impact on the residents of these properties and the neighborhoods they are located in.

  28. xolepa says:

    (23) Ragnar.
    I have a similar analogy in reference to my oldest son when he was in h.s. school., that was about a dozen or so years ago. He made the all-state (all-regional?) band and the concerts were held in Bridgewater. He played well but was well balanced in his life-style, played sports, volunteered, etc. Well, there were two bands that played in that concert that day. The first band had a lot of string instruments (symphonic). That equates to many Asians.
    After the strings finished, the Asian parents all stood up and went home. They did not give the respect of staying for the second concert. I considered it very rude.

  29. Ragnar says:

    11, Chifi,
    Well I wasn’t born Asian, but I married into it, so I resemble that remark. Finance undergrad, then CFA, then MBA in intl biz/finance.

    I got an undergrad in finance. I think the best part about that finance degree wasn’t the finance classes, other than basic corp finance stuff like understanding NPV. What was more valuable was the accounting and marketing classes. Accounting is like a language without which you’re illiterate, and undergrad is probably the best time to start learning.

    Then after a few years of working in investments, I did my CFA in 3 years. I never went to a CFA class like everyone these days. I actually read all of the books in the program, and did the exercises within. Whatever I was learning, I tried to actually put it to work at work – makes it much easier to learn when you actually have to understand something well enough in real life. That was in 97. They were already teaching mortgage backed securities back then and I smelled some BS. Read a good book by Robert Haugen in 96, which helped me further understand how flawed CAPM was (check out my firm’s recent annual letter to fund shareholders, BTW).

    I got my MBA from NYU about 5 years later, and focused on classes that would continue to be useful in work – International Business and Finance. NYU is pretty good in finance. I sharpened up some skills further, and by the end had pretty good performance in a long short hedge fund I was doing during school, assisted by skills and theory I was picking up at school. During and after graduating, I continued to develop some quantitative skills that have come in very handy. Not dumb & blind quant stuff that some Chinese guy blows up a fund or a national economy with, but the quantitative skills that help one test a fundamental hypothesis, or help differentiate a signal from noise. Or help you understand why you don’t want to act on some Chinese quant’s overhyped backtest.

    After my MBA I continued to self-educate and put it into real-life practice. For example, one valuable skill I developed the past 10 years related to learning a programming language and using it to help visualizing data.

    Probably my most valuable study came in my teens. I read “Atlas Shrugged” and all of Ayn Rand’s works, among the most important was her “Introduction to Objectivist Epistemology” which involves understanding how rational thought and the accumulation of valid knowledge works. I also read all of Ludwig von Mises’ economic works while my Econ professors tried to teach me faulty Keynesian theories. I read some of Ibsen’s plays and Neitzsche too. Pretty soon it was pretty clear that conventional wisdom about nearly every big subject in the world was profoundly wrong. So I was going to have to do a lot of work thinking for myself, depending on my own reason to see through the fantasies that society blinds itself with.

  30. Libtard (channeling JJ) says:

    You think there are a lot of Asians in finance? You should see the breakdown in the dry cleaning major.

  31. Comrade Nom Deplume on a new device says:

    [17] renter

    “In fact, we need the government to mandate a United Colors of Benetton look in every group of 5 or more people assembled anywhere, at any time, for any reason.”

    We are already on our way there. HUD and Federal Bank regulators, enforcing ECOA, have long required that advertising in housing and in mortgages include depictions of minorities.

    But that is mere cosmetics. The replacements for quotas are being implemented. For example, Dodd-Frank enables regulators to impose diversity supplier requirements on all federally regulated (meaning all) financial institutions, and the regulators are implementing rules and guidance. It’s an end run around the contentious issue of quotas, but don’t look for any analysis in MSM.

    How this plays out is that Maxine Waters and her contemporaries “suggest” to institutions that they would be wise to hire Newco to supply X services (no matter that Newco is the higher bidder). If a Bank doesn’t, her office fires off a letter to OCCFDICFRBSEC, inquiring why Bank hasn’t been complying with the law, and then calls her buds at NCRC/Greenlining/la raza/etc. to hold a few protests. Bank goes along b/c ATEOTD, they take a hit either way and this way, they have a marker to use with Waters/Waxman/Schumer . . .

  32. joyce says:

    None of the searches in this story yielded any drugs. All of these drivers and passengers have filed complaints with police or are seeking legal action.

    “If I go somewhere and I grab a person and grope or I search them in their private areas, I’m going to jail,” Eleby said, “What makes him above the law?”
    http://www.wsbtv.com/news/news/local/roadside-violation-drivers-passengers-say-police-s/nc7kd/

    thank god (some) drugs are illegal

  33. The Original NJ ExPat says:

    grim – And don’t fool yourself that this isn’t going on in the suburbs as well. Yesterday in Morris County was a typical foreclosure Thursday. 19 properties scheduled for sale. 3 bought by the lender, 1 by a third party. What about the other 15 you may ask? Same as every other week, they were all adjourned 60-90 days down the road.

    If you look up the records at the Morris County clerk’s database, you’ll find that completed foreclosures currently have Lis Pendens filed in 2008-2010. It’s more like 5 or 6 years for the foreclosure process to complete and only a fraction are even completing.

    NJ’s foreclosure pipeline is being actively stopped for fear of what will happen once it opens again. In typical NJ style, those behind this thought that we could get out of the situation by kicking the can down the road, I’ll all be fine tomorrow. Instead, we find ourselves with fingers in the dam holding back an onslaught of foreclosures in these areas.

  34. Comrade Nom Deplume, Guardian of the Realm says:

    [31] redux,

    And when Fabian and anon chime in that there is no hard and fast requirement in the law, I’ll remind them that there aren’t a lot of hard and fast requirements in financial regulation when it comes to prudential standards or fair lending. That doesn’t make it any less a “rule.” The regulators have broad leeway to “insist” that something be done a certain way, and if you don’t go along, they will remind you that “ve haf vays to make you talk.” And they have and they will–I know, I’ve been in the rooms or on the calls.

  35. Juice Box says:

    Fat Man gets his own suite for the Superbowl, Deblasio ain’t going. Cuomo is mum….

    Read the comments on DeBlasio hilarious.

    http://www.nj.com/super-bowl/index.ssf/2014/01/nyc_mayor_bill_de_blasio_wont_attend_nj_super_bowl.html#incart_maj-story-1

  36. grim says:

    Christie is an idiot for going, very poor perception management.

  37. Michael says:

    17- Let’s be real here. There is a reason the govt came out with these policies. Majority of the time, people stick to their own kind. If these policies didn’t come about, there would be no minorities or immigrants in a position of power today.

    Brings me to my next controversial point…lol A lot of groups tend to hate on whites, but bottom line, how many other groups would have given up their power and made laws that allowed for these other groups to compete with the white man. Really don’t know of too many instances in history where this kind of behavior has taken place. Where a race of people voted in laws to help the disadvantage groups. That’s why it is annoying to see some minorities talk about white people in a negative way.

    “Clearly then, we need to discriminate against Asians.

    God forbid we treat people as individuals and judge them by the “content of their character” and their performance and achievements.

    In fact, we need the government to mandate a United Colors of Benetton look in every group of 5 or more people assembled anywhere, at any time, for any reason.”

  38. joyce says:

    Local mayor was miffed… he can go fcuk himself

    Juice Box says:
    January 31, 2014 at 12:12 pm
    Fat Man gets his own suite for the Superbowl, Deblasio ain’t going. Cuomo is mum….

    Read the comments on DeBlasio hilarious.

    http://www.nj.com/super-bowl/index.ssf/2014/01/nyc_mayor_bill_de_blasio_wont_attend_nj_super_bowl.html#incart_maj-story-1

  39. Lurker says:

    Well his career is ends in 2017 so he might as well enjoy the ride until then, no?

    #38 grim says:
    January 31, 2014 at 12:35 pm
    Christie is an idiot for going, very poor perception management.

  40. chicagofinance says:

    rags: did you catch this from last night?

    Ragnar says:
    January 30, 2014 at 6:04 pm
    Chifi, Looks like fun. UChicago seems to have a more active alumni program than NYU. I’ve got to say though that finance industry conferences with important people mostly bore me. People with large titles but who aren’t founders tend to say “safe” things for the most part. I’d like to do more CFA conferences where they invite some people with radical ideas to present. Guys like Cliff Asness – you should follow his blog/ read his missives. He’s a Uof C PhD too!

    92. chicagofinance says:
    January 30, 2014 at 6:51 pm
    What about this?
    http://www.chicagobooth.edu/alumni/events/showEvent?eventId=5086

  41. Michael says:

    Just want to clear this up before I go into details. The other day, some people didn’t believe in the networking factor at ivy league schools. Yes, the ivy league schools have a lot of the smart non-rich kids on scholarship or financial aid, but I’m not talking about the genius kids at ivy schools. I’m talking about the wealthy group of kids also known as the privileged class. Do you think you would see a kid worth 250 million going to a school like Montclair State University. That’s for normal kids, not the privileged kids.

    Man, you guys really don’t get it. Just like the ivy league schools serve the purpose of networking and staying with your kind, the same applies to schools like Pingry. It’s not all about education. If it was only about education, they would just send (move) their kids to the best public school in the state. They send their kids to a school that costs 30,000 to be with other kids that could afford that school. The networking starts early ladies and gents. It starts when they first attend that prestigious pre-k costing an insane amount of money.

    “Continuing the school discussion. Thanks to the person who dissed Pingry about the multiple tutors. It makes me feel better about not spending 30k/yr to send my kid there. ”

    “I know people who tutor kids from Pingry. The kids learn nothing from the teachers there. Their parents all end up hiring 5 personal tutors each year to pick up the slack.”

  42. jj says:

    They want radical ideas they need me to present!!!

    BTW – Cliff Ass what kind of name is that?

    chicagofinance says:
    January 31, 2014 at 1:09 pm
    rags: did you catch this from last night?

    Ragnar says:
    January 30, 2014 at 6:04 pm
    Chifi, Looks like fun. UChicago seems to have a more active alumni program than NYU. I’ve got to say though that finance industry conferences with important people mostly bore me. People with large titles but who aren’t founders tend to say “safe” things for the most part. I’d like to do more CFA conferences where they invite some people with radical ideas to present. Guys like Cliff Asness – you should follow his blog/ read his missives. He’s a Uof C PhD too!

  43. joyce says:

    What % of Michael’s posts include the phrase, “you guys don’t get it?”

  44. Michael says:

    Guess this supports my earlier post (# 39) in which i stated the following: Let’s be real here. There is a reason the govt came out with these policies. Majority of the time, people stick to their own kind.

    “Front rows of the auditorium were dominated by the Chinese and Indian parents. More of the white parents socialized with one another in the back. “

  45. Michael says:

    You aren’t kidding!!! I can’t find anything available in the location that I’m looking. Has been nothing available for months. Totally agree with there being no shortage of investors seeking income producing properties.

    “Currently there is no shortage of investor buyers seeking income producing 2 to 4 unit properties for cash flow. These buyers exist in the worst inner city areas and the most desirable suburban locations.”

  46. Libtard in Union says:

    It took me a while, but I just found this photo of Michael.

    http://tinyurl.com/Michael-discovered

  47. Michael says:

    46- Well it’s tough trying to get through to people that classes do indeed stick together. They were telling me otherwise. Should I tell them that they get it, that all classes in our society do indeed associate with each other and go to the same school?

  48. Happy Renter says:

    [39] “Let’s be real here. There is a reason the govt came out with these policies. Majority of the time, people stick to their own kind. If these policies didn’t come about, there would be no minorities or immigrants in a position of power today.”

    [43] “I’m talking about the wealthy group of kids also known as the privileged class.”

    [50] “Well it’s tough trying to get through to people that classes do indeed stick together.”

    You just don’t get it, Michael.

    Do you think every person categorized as “white” is born into this upper crust wealthy elite that you are describing? Do you think that no one categorized as “minority” or “immigrant” is part of this wealthy elite?

    Do you not understand that there are many white children born into poverty that suffer the same lack of opportunities as any other poor child? Do you think that skin color is a fair basis for giving one group of people preference over another?

    Do you think the wealthy and uber-connected Obama girls deserve to receive special treatment and preference over some poor white child born into poverty who has had to struggle all her life? Do you think the children of wealthy blacks should get preference over white kids from the lower class — does little North West deserve racial preferences when it comes time to apply for college?

    Do you think the children of some wealthy Middle Eastern or South American immigrant need a special preference over a child born into poverty here in the U.S.?

    Put simply: why do you think that skin color or immigration status, as opposed to wealth, is what we should consider if we’re going to advantage some kids over others?

  49. joyce says:

    Happy,
    You just don’t get it.

  50. Michael says:

    51- Where the hell did I say wealthy WHITE kids? I stated in post 39 that white’s allowed for policies that gave minorities and immigrants opportunities to be in positions of power. This has led to the fact that wealthy doesn’t mean white anymore in this country. Racism is out the door and it’s all about money now. People discriminate based on money in this country. That’s why there are schools like Pingry that charge an insane amount of money to people that have access to some of the best public schools in the country, but would rather pay 30,000 to go to school with their own kind who can afford a prep school education.

    “Do you think every person categorized as “white” is born into this upper crust wealthy elite that you are describing? Do you think that no one categorized as “minority” or “immigrant” is part of this wealthy elite?”

  51. Happy Renter says:

    [53] I think you’re confused, or maybe I just don’t get your argument, but you can clear it up by answering a simple question: Do you think that we should be granting race-based privileges or not?

  52. Michael says:

    I wasn’t defending affirmitive action. I hate it. I was just stating why our country came up with this policy. At a time, there was a need for it, if you wanted to claim that this is an equal opportunity country.

    “Put simply: why do you think that skin color or immigration status, as opposed to wealth, is what we should consider if we’re going to advantage some kids over others?”

  53. xolepa says:

    Michael,
    I got a 4 unit in Warren County, not P’burg, if you want to make a deal.

    Oh, what’s that? Price not right? Guess What? The units you want where you want are there. It’s just that you’re not willing to pay the price.

    Beside the RE stuff, many parents from my town sent their kids to Pingry for their edumacation. Some left for better schools. Pingry is not considered top flight. Couple of those kids go to school with my daughter in a haughty NESCAC college in New England. She ride shares with a girl who lives on Bernardsville mountain. All other kids I know who went to Pingry did not accomplish anything special. Networking? Bah humbug. Guess what Michael? networking went out of style when cell phones proliferated. Texting, et al has no social or demographic bounds. Network infused relationships disappeared along with person2person communication.

    As for my daughter, she is chasing after 1 guy in school – his father is in the top 10 of all compensated CEOs in this country. Now, that’s what I call attempting to network.

    JJ, you can let the chips fly where they may on this one.

  54. Happy Renter says:

    [55] “I wasn’t defending affirmitive action. I hate it.”

    Well, we’re in agreement then.

    “I was just stating why our country came up with this policy. At a time, there was a need for it, if you wanted to claim that this is an equal opportunity country.”

    No, there was a never a “need” for it. What there was a need for was an end to racial discrimination. Or, as Chief Justice John Roberts wrote: “[T]he way to stop discrimination on the basis of race is to stop discriminating on the basis of race.”

    And as for what you call “affirmative action,” you might be interested to learn how that term was originally twisted and co-opted from the original goal of treating people equally without regard to race.

    An excerpt from President Johnson’s Executive Order 11246 in 1965:

    “The [federal] contractor will not discriminate against any employee or applicant for employment because of race, color, religion, sex, or national origin. The contractor will take AFFIRMATIVE ACTION to ensure that applicants are employed, and that employees are treated during employment, WITHOUT regard to their race, color, religion, sex or national origin.” (all caps mine)

    And yet somehow we went from the admirable goal of ensuring that people were treated “WITHOUT regard to their race, color, religion, sex or national origin” to a twisted view of “affirmative action” to mean giving special benefits to people categorized as certain races, nationalities, etc.

    In other words, the libtard United Colors of Benetton Rule.

  55. joyce says:

    57
    When it comes to working for/with the government, there should be no discrimination with regards to race, color, religion, sex, etc etc etc. More over, in a free society, individuals and private group/business should be allowed to do so without fear of legal action. One is supposed to free and able to be an @sshole in this country… you’re supposed to be able say vitriolic things in this country. But the majority, so it appears, do not believe in the ideals of freedom and individuality anymore.

  56. xolepa (56)-

    You might as well be talking to your cat.

  57. Happy Renter says:

    [58] “When it comes to working for/with the government, there should be no discrimination with regards to race, color, religion, sex, etc etc etc. More over, in a free society, individuals and private group/business should be allowed to do so without fear of legal action.”

    Regarding working for/with the government, I agree. Sadly, there is racial discrimination against whites for this work under the current regime.

    Regarding individuals and private groups/businesses, if everyone is allowed to play by the same rules (i.e., if individuals and businesses who want to give special preferences to whites are allowed to do so) then I agree.

    But if the government is going to interfere in private right of association and say that private businesses cannot discriminate against a particular subset of races, then the rule should just be that private businesses cannot discriminate against any race, including whites.

  58. Painhrtz - Disobey! says:

    Listen i don’t like little people, they creep me out, but if it came down to a little person or a normal bodied person I don’t give a holy sh!t about someones gentic deformities if they are the best person for the job then I will hire them. granted i would probably put them as far away from in the building as possible, or have them work from home. but i can only suppress so much.

    And joyce your correct, me being an assh0le it is getting harder to be one.

  59. joyce says:

    60
    Yup.

  60. anon (the good one) says:

    Smoking gun,
    Christie is done!

  61. jj says:

    If my daughter marries one of the top ten compensated CEOs I would pay for wedding.

    However, I once worked for a CEO who made 100 million one year when company went public and kids go to public schools – so maker sure guy is big spender.

    As for my daughter, she is chasing after 1 guy in school – his father is in the top 10 of all compensated CEOs in this country. Now, that’s what I call attempting to network.

    JJ, you can let the chips fly where they may on this one.

  62. anon (the good one) says:

    are you saying that George W didn’t get into all those Ivy League Schools on merit?

    Michael says:
    January 31, 2014 at 1:43 pm
    Just want to clear this up before I go into details. The other day, some people didn’t believe in the networking factor at ivy league schools.

  63. Juice Box says:

    Christie might as well enjoy that suite at the Superbowl, it might be his last before a perp walk.

    “The former Port Authority official who personally oversaw the lane closings on the George Washington Bridge in the scandal now swirling around Gov. Chris Christie of New Jersey said on Friday that the governor knew about the lane closings when they were happening, and that he had the evidence to prove it.

    In a letter released by his lawyer, the official, David Wildstein, a high school friend of Mr. Christie’s who was appointed with the governor’s blessing at the Port Authority of New York and New Jersey, which controls the bridge, described the order to close the lanes as “the Christie administration’s order” and said “evidence exists as well tying Mr. Christie to having knowledge of the lane closures, during the period when the lanes were closed, contrary to what the governor stated publicly in a two-hour press conference” three weeks ago.”

    http://www.nytimes.com/2014/02/01/nyregion/christie-bridge.html?hp&_r=0

    Wildstein must really want immunity, let’s see if US Attorney Paul J. Fishman bites.

  64. “Introduction to Objectivist Epistemology” says:

    @pourmecoffee: Chris Christie turning green and bursting through his clothes. Citizens are advised to shelter in place.

  65. Lurker says:

    exactly what I was getting at in #41… but I have it on very good authority that there are a few more shoes to drop and Big Chris is pretty much finished

    66. Juice Box says:
    January 31, 2014 at 4:14 pm
    Christie might as well enjoy that suite at the Superbowl, it might be his last before a perp walk.

    “The former Port Authority official who personally oversaw the lane closings on the George Washington Bridge in the scandal now swirling around Gov. Chris Christie of New Jersey said on Friday that the governor knew about the lane closings when they were happening, and that he had the evidence to prove it.

    In a letter released by his lawyer, the official, David Wildstein, a high school friend of Mr. Christie’s who was appointed with the governor’s blessing at the Port Authority of New York and New Jersey, which controls the bridge, described the order to close the lanes as “the Christie administration’s order” and said “evidence exists as well tying Mr. Christie to having knowledge of the lane closures, during the period when the lanes were closed, contrary to what the governor stated publicly in a two-hour press conference” three weeks ago.”

    http://www.nytimes.com/2014/02/01/nyregion/christie-bridge.html?hp&_r=0

    Wildstein must really want immunity, let’s see if US Attorney Paul J. Fishman bites.

  66. “Introduction to Objectivist Epistemology” says:

    @NewsBreaker: Ex-Christie campaign manager to plead the Fifth, lawyer says http://t.co/jTMB12F8Hs @washingtonpost http://t.co/osr4ixKDzr

  67. Juice Box says:

    re # 69 – Have to wonder if he will get a pass ala Spitzer. Resign and no charges etc?

  68. grim says:

    157 page letter from his attorney? I bet he had to mortgage his house for that one

  69. “Introduction to Objectivist Epistemology” says:

    @MotherJones: Here is the letter from Christie ally’s lawyer saying the governor knew about lane closures: http://t.co/8tXpMoKL9i #bridgegate

  70. Godzilla with a knows about Hazard says:

    Shame on Christie!. For someone that was a US Attorney, a political bully demanding loyalty and not know about “Hazard Pay” to your crew?, what a dumb ass.

    All he had to do was listen to the wiretaps/surveillance of North Bergen Sen/Mayor/ Municipal Fief overlord (with over dozens convicted in his administration – including several commissioners and no one spills the beans ) for how to handle and treat people so they keep they mouth shut and happily do their time and get paid on the way out.

  71. nwnj says:

    Meh, Wildstein is trying to shake down the PA for his legal bills. I’ll wait and see what the evidence is before deciding if Christie is finished or not. It could end up being more scribbling in a notebook.

  72. Juice Box says:

    Ah twitter….

    BREAKING: Firefighters in Trenton responding to fire in Chris Christie’s pants.” LOL

  73. “Introduction to Objectivist Epistemology” says:

    Jeb? Palin? who’s gonna replace him

  74. anon must be busting a nut now

  75. Newsflash: all politicians are crooks.

  76. jj says:

    Juice Box says:
    January 31, 2014 at 4:26 pm
    JJ – Vivid tickets has field level end zone for $1500, these are supposedly 1200 face value

    http://www.vividseats.com/nfl/super-bowl-tickets/super-bowl-2-2-1383306.html?utm_source=google&utm_medium=cpc&utm_campaign=NFL+Football&utm_term=cheap+superbowl+tickets&vkid=2744414&gclid=CLfF8M-sqbwCFRNp7AodHmIAVA

    Are this legit? How do I pick them up so close to game time> It is not like stubhub with a pick up window

  77. Juice Box says:

    JJ – Legit…… Call them if you are worried.

  78. jj says:

    JB you going?

    My friend who is a MD at Merril is cheaping out on me last minute. His wife is giving him sht yet she dont work, gotta love it. I have to find a new buddy tommorrow.

  79. Juice Box says:

    JJ – I just bought a new 65 inch Sony UHD TV and I am throwing a small family party. However if prices keep dropping and they will… I may not show up to my own party!

    Deal is you pay Vivid with credit card. Seller does a drop with you at agreed place, Mall, Diner, Bar or at some other per-determined place. No cash and you are covered by credit card if tickets are a scam etc. They won’t be Vivid is good, and rated by the BBB been around a while etc.

    Stubhub is all about their pop-up store in Secaucus Expo. It is safe.

    Even prices on Ticketmaster have come down, it is all a waiting game now.

  80. chicagofinance says:

    Footage from Christie’s box at the Superbowl:
    http://www.youtube.com/watch?v=rXH_12QWWg8

  81. JFK says:

    Jb planning on going unless friend bails

    I can hop on lirr up to around 330pm to make game

  82. AG says:

    Just pave Camden and Newark over. I need gas for my heat.

  83. AG says:

    I demand a daily ass size meter for Hillary Clinton Grim.
    I swear someone implanted a magnet in that womans ass and the the devil himself is pulling her into the iron core of the earth. Good grief! I demand a good looking incompetent criminal to rule over me. Not some dog face, fat ass, piece of sh-t like Hillary.

    Lets not get started on her dog face daughter either. I had enough of looking at young medusa for 8 f_ckin years in the 90’s. You telling me I have to look at that sh_t again?

    Hide your mirrors folks. Its about to get ugly.

  84. Happy Renter says:

    [87] Just reminded me of this classic Simpson’s episode . . .

    Patty: I can’t believe Auntie Gladys is really gone.
    Selma: Her legend will live forever.
    Homer’s Brain: Yeah. The legend of the dog-faced woman.
    Homer: Legend of the dog-faced woman! Oh, that’s good!
    Marge: HOMER!
    Homer: Wha–? D’oh!

  85. “Introduction to Objectivist Epistemology” says:

    now that fatso is gone.
    yes, please bring Palin, the hottie, back

    AG says:
    January 31, 2014 at 6:34 pm
    I demand a daily ass size meter for Hillary Clinton Grim.

  86. Michael says:

    65- Exactly! You think a C student can get into an Ivy League school and become president without networking? Nah, networking is dead. It’s all about hard work and good grades. Got it!

    “are you saying that George W didn’t get into all those Ivy League Schools on merit?”

    Michael says:
    January 31, 2014 at 1:43 pm
    Just want to clear this up before I go into details. The other day, some people didn’t believe in the networking factor at ivy league schools.

  87. Michael says:

    So why do these parents spend 30,000 a year if it’s not top flight? I’m confused. 30,000 a year is for middle class kids and not top flight?

    Also, your statement about the kids you know that went to pingry and didn’t amount to anything is pointless. Why? Because these kids are already loaded. They barely have any ambition. When was the last time the offspring of someone extremely wealthy did something great? Plain and simple, they are at pingry to mingle with other rich kids. That’s it. People don’t send their kids to pingry or delbarton because they are getting the best education. They send them there because that’s where other rich people send their kids. If you think otherwise, you are naive. Poor kids hang with poor kids and rich kids hang with rich kids. Been like this throughout most of human history. The only poor kids that hang with rich kids are the ones that are going be rich because they are extremely smart and at the school due to a scholarship or some form of aid.

    “Beside the RE stuff, many parents from my town sent their kids to Pingry for their edumacation. Some left for better schools. Pingry is not considered top flight. Couple of those kids go to school with my daughter in a haughty NESCAC college in New England. She ride shares with a girl who lives on Bernardsville mountain. All other kids I know who went to Pingry did not accomplish anything special. Networking? Bah humbug. Guess what Michael? networking went out of style when cell phones proliferated. Texting, et al has no social or demographic bounds. Network infused relationships disappeared along with person2person communication.”

  88. Michael says:

    I kid you not, there is nothing available. You are right though, there is one 2 family for sale in the area that I’m looking in. You are also right that I’m not willing to pay the price. They are asking 630,000 (reduced from 650,000) with 18,000 in taxes. There is no way in hell I can profit from that property. I’m looking in the Athenia section of clifton by the way.

    “Oh, what’s that? Price not right? Guess What? The units you want where you want are there. It’s just that you’re not willing to pay the price.”

  89. joyce says:

    Sure you can. It will appreciate, 3% every year at a minimum to infinity. Doesn’t matter if you lose money every month, you’ll make it up and then some when you sell. You know how I know? You told me.

    Michael says:
    January 31, 2014 at 9:08 pm

    There is no way in hell I can profit from that property.

  90. Michael says:

    “Studies of workers of all types have found through these traditional approaches, 60 to 90% of the job are found through friends, relatives, personal contacts, and direct application.”

    http://www.bmcc.cuny.edu/career/students/page.jsp?pid=1010&n=The%20Importance%20of%20Networking

  91. Michael says:

    “The American establishment is extraordinarily good at getting its children into the best colleges. In the last presidential election both candidates—George Bush and John Kerry—were “C” students who would have had little chance of getting into Yale if they had not come from Yale families. Al Gore and Bill Frist both got their sons into their alma maters (Harvard and Princeton respectively), despite their average academic performances. Universities bend over backwards to admit “legacies” (ie, the children of alumni). Harvard admits 40% of legacy applicants compared with 11% of applicants overall. Amherst admits 50%. An average of 21-24% of students in each year at Notre Dame are the offspring of alumni. When it comes to the children of particularly rich donors, the bending-over-backwards reaches astonishing levels. Harvard even has something called a “Z” list—a list of applicants who are given a place after a year’s deferment to catch up—that is dominated by the children of rich alumni. ”

    “Two groups of people overwhelmingly bear the burden of these policies—Asian-Americans and poor whites. Asian-Americans are the “new Jews”, held to higher standards (they need to score at least 50 points higher than non-Asians even to be in the game) and frequently stigmatised for their “characters” (Harvard evaluators persistently rated Asian-Americans below whites on “personal qualities”). When the University of California, Berkeley briefly considered introducing means-based affirmative action, it rejected the idea on the ground that “using poverty yields a lot of poor white kids and poor Asian kids”. ”

    http://adamash.blogspot.com/2006/09/ivy-league-bastions-of-privilege.html

  92. Pingry, Harvard…you name it. It’s all a scam. When a guy like Krugman is held in the highest esteem as an educator and thinker, we’ve all bought a one-way ticket to chimptown.

    We are now reaping the whirlwind of the first generation of students being taught by the first entire generation in Amerikan history to be rendered completely ignorant.

  93. Anybody wanna sneak into the Super Bowl with me on Sunday?

    Hey, I used to do it at Shea all the time.

  94. grim says:

    Christie got lap band to be President. Does that mean Hillary needs ass implants?

  95. Fast Eddie says:

    I think this house just blinked at me. Either that or it should be inserted into an inkblot test:

    http://www.njmls.com/listings/index.cfm?action=dsp.info&mlsnum=1400972&dayssince=&countysearch=false

  96. Street Justice says:

    Steve Sweeney for governor…

  97. Fast Eddie says:

    Yet another listing with the proverbial “Six Forty Nine Nine” handle. Some houses say nothing. And some houses say nothing in a nothing location:

    http://www.njmls.com/listings/index.cfm?action=dsp.info&mlsnum=1402485&dayssince=&countysearch=false

  98. Essex says:

    100. Cankle reduction surgery.

  99. Fast Eddie says:

    It’s been dropped 130K from the original stup1d price, now down to a silly clown price. We have a better chance of seeing a Republican President than seeing this place sell for anything near the dream price:

    http://www.njmls.com/listings/index.cfm?action=dsp.info&mlsnum=1340242&dayssince=&countysearch=false

  100. Fast Eddie says:

    Grim,

    What’s the deal with this one? I sorta thought this might have been in Attorney Review by now, given the location and inventory:

    http://www.njmls.com/listings/index.cfm?action=dsp.info&mlsnum=1339549&dayssince=&countysearch=false

  101. grim says:

    I think this house just blinked at me.

    Holy Jesus – that place is going to topple over with the weight of those dormers.

    Hired a builder who thought they were an architect, builders shouldn’t play architect, they should stick to swinging hammers. Perfect example where odd proportion ruins a house.

  102. Fast Eddie says:

    $637,000 for an expanded double-wide just to say you live in “such-and-such” town. Never mind the sound of multi-axle rigs whizzing by on route 17, you’ll get used to it. After all, you’re prestigious now:

    http://www.njmls.com/listings/index.cfm?action=dsp.info&mlsnum=1403106&dayssince=&countysearch=false

  103. grim says:

    Problem with 704 Hillcrest is it is a 3br in what is firmly a 4br pricing zone.

    599 Fern has a much better chance of selling, being a larger 4br, at essentially the same price. (Your post 103 above).

    You want to see one that’ll go fast? Look at 2 Morgan. $679k. I’d bet it would go by this weekend, if it wasn’t Super Bowl. It won’t see next weekend.

  104. Fast Eddie says:

    I love the location and the property. I’m not sure what they were thinking with a shot of the bed sitting in the middle of that cavernous, vaulted room. Also, they got summer and winter shots in the profile… very f.ucking lazy on the house tour guide’s part. For that reason alone, the seller should move to another (ahem…) agent. Then again, the seller is probably a fat ignorant f.uck anyway. She I lob a low ball at this joint?

    http://www.njmls.com/listings/index.cfm?action=dsp.info&mlsnum=1403199&dayssince=&countysearch=false

  105. Fast Eddie says:

    You want to see one that’ll go fast? Look at 2 Morgan. $679k.

    What’s the MLS ID?

  106. grim says:

    1402617

  107. Fast Eddie says:

    Yup, that will be gone. I agree. It’s the most sought after layout and my personal favorite. I would love to see 10% off that price tag. If we had inventory and the FED out of the picture, you would see a low 600 price.

  108. grim says:

    Did you see 52 Hampshire? Went in a little over a week, closed at $635k. Nice bones but you’d need to totally un-80s that joint.

  109. Fast Eddie says:

    I think I saw it but don’t remember what it looked like. For 635K, it better have been move-in condition.

  110. Fast Eddie says:

    I’m praying for inventory and higher interest rates. Too many f.ucked bagholders for inventory. This spring is going to be awful for the general plebs attacking open houses like killer bees and sh1t stain listings rotting away. The only alternative is to knock on doors of 20 plus year residents and ask if they want to sell.

  111. grim says:

    Sure, move in ready, just make sure you bring your Aqua-Net and Poison records.

  112. Fast Eddie says:

    115,

    I just re-read your post. People are f.ucking lemmings. My house is nothing more than a pawn, ready to be used as a trade-up chip. You first time buyers are royally f.ucked.

  113. grim says:

    People are crazy about those few streets near Hampshire, just being in that little triangle is a 10-20% premium.

  114. Fast Eddie says:

    120 – That neighborhood is the closet thing to a Franklin Lakes/Wyckoff feel minus the price tag. The Plebs need to show that they’re prestigious somehow. It’s all about symbols and appearance. Actual facts, models and methodology does not apply. Overall, I can’t imagine what prices are going to look like if the inventory pipeline ever opens up and rates are able to correct themselves.

  115. Fast Eddie says:

    It’s yours for $900,000. Why? Because it has pretty plantings and towering trees. That’s what the description says. Forget about the lack of pictures, take our word for it:

    http://www.njmls.com/listings/index.cfm?action=dsp.info&mlsnum=1402935&dayssince=&countysearch=false

  116. Michael says:

    Fast Eddie, why are you not jumping on 2 Morgan? You can’t say that’s overpriced. If you do, you will be searching forever.

  117. Ben says:

    In building on the high school part of the thread, by sending your kid to a “top high school”, you’re not necessarily putting them in a better spot to succeed. A lot of kids who end up going to a school like Ridge are put up against 15 to 20 kids that could be valedictorian in any other district. Beyond that, it doesn’t end there. If your child is top 5% material, maybe they only get into the top %15 in these districts. To be honest, the student body is what determines how high a school performs on testings and where it shows up on the rankings. Ridge, literally imports these students every year because families look to move into town to get their kid into a district. It’s the equivalent of comparing the Bergen Catholic football team to the Union football team. We know which one is better and why. It doesn’t help the kids chances. The “top schools” still have trouble placing kids into the ivies, despite their perfect GPAs and perfect SAT scores. Most admissions still simply just look at class rank, and unfortunately, race these days. The best thing you can do for your child if you are looking to get them a good education is to see what advanced level courses are offered at the high school level. They’ll get the same education either way. The difference is, you might find their AP Physics class only has 5 or 6 kids as opposed to 25….and that’s not a bad thing at all.

  118. Fast Eddie says:

    Michael,

    Pretty house in a beer neighborhood. Thus, the price, which is still higher than it should be. I have nothing against the neighborhood but I am not going to explain myself for the 148th time.

  119. Michael says:

    Grim-Why won’t the site let me post excerpts from an article from Time. Every time I hit post, it doesn’t show up.

  120. “Introduction to Objectivist Epistemology” says:

    @NewsBreaker: NEW: @FerrisState University student shot in off-campus incident. Possible suspect is located – @WOODTV http://t.co/qdjg5WyXna

  121. Fast Eddie says:

    Love the property but it has a “7” handle. A “7” handle. A SEVEN HANDLE! Ask yourself again why there is no inventory.

    http://www.njmls.com/listings/index.cfm?action=dsp.info&mlsnum=1402577&dayssince=&countysearch=false

  122. Fast Eddie says:

    anon,

    Go send love letters to Oblama.

  123. Michael says:

    124- Ben, totally agree. One thing though, if you are top 5 student at ridge, you are set. I’ll make the sport comparison. If you are a top 1% athlete in the state, you are better off playing football at Bergen catholic as opposed to union high. Will be much more difficult to get noticed if you are the top player on a union high team as compared to the top player on Bergen Catholic. Same can be said for top students. A top 5 student from Garfield High school will not do as well as a top 5 student from Ridge in getting into the best colleges. So much tougher for the Garfield graduate to get into those top colleges.

  124. Fast Eddie says:

    99 BROOKVIEW DR, WOODCLIFF LAKE – MLS # 1333282 sold for $640,000 two months ago. It’s a 4/2.5 CHC. That’s why the place with a “7” handle is too high.

  125. Michael says:

    129- Yes, but that’s because it’s Woodcliff Lake. I Love that town but wouldn’t buy there. Why? Value wise. I don’t want to spend 700,000 for a pos, which is what 700,000 buys you in that town. It’s not overpriced, it’s just that the value of the land in that area is through the roof. It’s not a good value because you are competing with people who have deep pockets willing to overpay to be amongst their own which drives the price up of the land in that area.

    Here is some good advice if you are looking for value and a nice area. Start looking in Wayne. It’s by far the best value in north jersey. You will be close to everything, quiet town, and good schools(people are going to nail me for this but best part, it’s predominately a white town). So you get everything those haughty Bergen towns get yet get a huge discount because it’s in passaic county, even though it’s bordered by Bergen, Morris, and Essex county. So it’s basically in a unique position that it could have been a part of anyone of those counties but ended up in passaic county. Hence, the passaic county label leading to a great overall value on house prices.

  126. “Introduction to Objectivist Epistemology” says:

    go send him a letter asking for money to afford a house

    Fast Eddie says:
    February 1, 2014 at 9:41 am
    anon,

    Go send love letters to Oblama.

  127. grim says:

    Doesn’t pay to buy in a top-50 high school town unless you intend you have your child/children attend. Why pay the premium on the house, and in many cases a premium on the taxes?

  128. POS cape says:

    134

    That area of Wayne by the reservoir and Wayne Hills High School looks as nice as Bergen County.

  129. Fabius Maximus says:

    #2 grim

    “Newark, Oranges, Paterson, Irvington, Camden – These towns will make Detroit look like a great place to live. We’re not talking about thousands of evictions, we’re talking about tens of thousands of evictions.”

    I think you are wrong in this assumption. Investors pick up the properties from the banks and will just roll them over to rentals servicing the same socio-economic groups that are already living there. The only net result I could see, would be a drop in the owner occupied to rental ratio with an increase in section 8 housing.

  130. Fabius Maximus says:

    My favorite area of Wayne.

    http://www.weichert.com/49915116/

  131. Fast Eddie says:

    anon,

    go send him a letter asking for money to afford a house

    I tried. I was declined because I work full time and refuse to drink the m0ron koolaid.

  132. Fast Eddie says:

    Another one with the summer and winter pictures together. Careless. Here’s a hint: If a CHC sold in the same area for 100K less, chances are your house is priced too high.

    http://www.njmls.com/listings/index.cfm?action=dsp.info&mlsnum=1400283&dayssince=&countysearch=false

  133. cobbler says:

    michael [131]
    Top 5% student at Ridge or Millburn will be top 1% in most other places and will end with arguably the same or better college placement. Besides I am not sure that a meaningful %% of non-Asians were in top 5 at Ridge.

  134. grim says:

    139 – Play your cards right and that can be a moneymaker. All of Hoffman Grove is slated to go. Demolitions are ongoing. Perhaps you can negotiate with Christie? Surely it’s worth $225k under eminent domain.

    http://abnf.co/NJ-hoffman_grove_wayne_nj.htm

  135. Fast Eddie says:

    Hoffman Grove…. Sounds very prestigious! Can we get an “Estates” after that name? That will surely bump up the prices. Now, don’t be shocked if a house tour guide reads this and uses it in a listing. “Relax and entertain on your paver patio in prestigious Hoffman Grove Estates!”

  136. grim says:

    Drive through if you are looking for some real entertainment tonight.

    Start it off in the ‘grove, then set your GPS for the intersection of Carroll Street and Governor in Paterson. Lock your doors and don’t make eye contact.

    I guarantee you’ll have a great night.

  137. grim says:

    Really though, don’t go to Carroll Street if you value your life, it was a joke, bad joke.

    Instead, Google:

    Bogert Ranch Estates

    It’s the easiest way to buy into haughty upper bergen county. Based on Gary’s naming standard, this neighborhood must be top notch.

  138. grim says:

    Oh and about the ‘grove – I think something like 90 of the 120 houses have already been purchased by the Feds, at least 75 have been torn down. There actually isn’t much there anymore, in a few more years I’m sure they’ll tear out the roads and just let it get consumed back into the wetlands.

  139. anon (the good one) (skipping SB to read “Introduction to Objectivist Epistemology”) says:

    @mikko:
    No such thing as a free lunch
    No such thing as a free search engine
    No such thing as a free webmail
    No such thing as a free cloud storage

  140. Ragnar says:

    Drove into the parking lot of the PABT with no traffic at 1pm. Seemed pretty quiet.

  141. “Introduction to Objectivist Epistemology” says:

    see Tea Party, et al

    @WSJ: DNA inherited through interbreeding with Neanderthals 50,000 years ago may exact medical price on modern humans. http://t.co/d85MfiXkqf

  142. Fast Eddie says:

    Most of the wannabes that bought in these haughty towns that can’t sell or are an inch from pre-foreclosure probably had barely enough down payment for a single wide in Bogart Ranch Estates.

  143. Ragnar says:

    Ben, 124,
    That is one reason I bought in bridgewater not basking ridge. Pretty much the same number of AP classes. My kid is in the advanced classes, learning ok for a state run bureaucracy. My wife and I learned under worse conditions. And we spent 400 k less for our house in b water vs BR.

  144. Ragnar says:

    Anon, good luck with your reading assignment. Especially if it helps you integrate and validate concepts, moving beyond the 160 character word salads of leftist twitters.

  145. FRTR says:

    Never mind the Bollocks. Whip it good.

  146. Ben says:

    Ben, totally agree. One thing though, if you are top 5 student at ridge, you are set. I’ll make the sport comparison. If you are a top 1% athlete in the state, you are better off playing football at Bergen catholic as opposed to union high. Will be much more difficult to get noticed if you are the top player on a union high team as compared to the top player on Bergen Catholic. Same can be said for top students. A top 5 student from Garfield High school will not do as well as a top 5 student from Ridge in getting into the best colleges. So much tougher for the Garfield graduate to get into those top colleges.

    Michael, that’s not what I see. I write letters of recommendation for some of the top students in the state. The colleges don’t really care what school you come from. #5 is #5 as far as they are concerned. I’ve seen classes where the top 10 get rejected from ivies left and right while #100, who happens to be a minority gets in. I’m not saying they don’t get into good schools, but the top high schools in the state do no better at placing kids into Princeton, Harvard, and MIT than any others. Meanwhile, its damn near impossible for them to get into any top school on the west coast.

  147. Essex says:

    MILLBURN — A woman was carjacked at gunpoint Friday afternoon in the parking lot of a restaurant in Millburn, authorities said.

    The unidentified woman was outside the Sakura Japanese Restaurant on Essex Street and Lackawanna Place at 2:20 p.m. when an armed suspect allegedly carjacked her 2008 silver Mercedes GL450, said Anthony Ambrose, the Essex County Prosecutor’s chief of detectives.

    The woman was not injured, according to Ambrose.

    The vehicle has not been located and no arrests have been made, he said.

    Essex County’s Major Crime Task Force and Millburn police are investigating the incident.

  148. Ben says:

    That is one reason I bought in bridgewater not basking ridge. Pretty much the same number of AP classes. My kid is in the advanced classes, learning ok for a state run bureaucracy. My wife and I learned under worse conditions. And we spent 400 k less for our house in b water vs BR.

    Its no different in college. Your education is a product of the work your child puts in. Not where he or she goes. I’ll be honest, half of these “top schools” run their classes so the kids do everything on their own.

  149. 30 year realtor says:

    Paterson? 12th Ave and Rosa Parks or as us old timers knew it Graham Ave. That has been a tough area for as long as I can remember and I was born in Paterson in 1960. They tore down some buildings and put in a trailer/police substation there years ago.

  150. Fabius Maximus says:

    160 30 year

    I would go to the other side of the river and say 2nd and Main around were it meets Goffle road.

  151. 30 year realtor says:

    East Main and Bridge St? Lovely location as well.

  152. chicagofinance says:

    Do you actually know anything about what you say? #1 Forget about rankings, look at the raw stats they put up; #2 fair or not, a school is going to look at what prior Garfield kids fared as a metric to how this current student might would perform should they matriculate; #3 once a profile has been established and an absolute scaling of candidates has been marshalled, a sh!tty zip code is a super trump card ticket to ride……

    Michael says:
    February 1, 2014 at 9:41 am
    124- A top 5 student from Garfield High school will not do as well as a top 5 student from Ridge in getting into the best colleges. So much tougher for the Garfield graduate to get into those top colleges.

  153. chicagofinance says:

    BTW – all you a$$wipes who see fit to denigrate top Ivies and whatever else….sure there is a whole stack of horsesh!t occurring, but that said, there is still a damn good plurality of top caliber young kids who are busting their a%%es at these places. You want to rationalize your inadequacies with a bunch of trite pablum…fine, do as you please….but you can allow the truth to stick in your craw until you meet your maker…..sometimes rich fuking people happen to be self-made and have smart, hardworking and well adjusted kids who happen to have won the genetic lottery…..tough sh!t Obamunists…..

  154. Essex says:

    174. Agreed. Will not desicrate. Sacred. cow. Moo

  155. Juiice Box says:

    Essex gets my vote for post of the year

  156. Michael says:

    164- I’m not putting down the fact that the majority of students going to these Ivy League schools deserve and belong there. I’m saying there always has and always will be the % of legacies that go to these schools. The cool rich kids click.

  157. Michael says:

    157- I’ll take your word for it…you are in the bunker.

  158. Michael says:

    Sports wise, you want to be on a well known established program. World of difference of being no 1 football player at don bosco prep and no 1 at Edison.

  159. AG says:

    F_ck real estate. I want to talk about dog face Hillary Clintons ass size. This is a topic that must be discussed. For f_cks sake I am a red blooded American and I deserve to be represented! That fat _ss isn’t going to go undiscussed. I want every detail of that ass discussed in detail down to the last pancake. Got that you monkeys?

  160. AG says:

    Ivy League is bullsh_t. Im a state school guy that could out work a fat cell from Hillary’s fat _ss. Proven and documented. You waste your hard earned money on BS education then you get what you deserve. Set your kid up with some work ethic and some no interest start up capital and watch prosperity at work.

    God I hope my kid becomes a real American.

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