Trulia: Asking prices begin to slow

From HousingWire:

The home price explosion has stopped

Everyone loves it when home prices go up, right? Higher asking prices mean that homeowners will get more out of their existing homes, which makes them more likely to sell and upgrade to a larger home. Larger home means larger mortgages. And that’s a win-win for everyone in this business, right?

But exploding home prices aren’t necessarily a good thing. “Extreme price increases create unrealistic expectations, encourage flipping, and might discourage some owners from selling if they expect big increases to continue,” said Trulia’s chief economist Jed Kolko.

However, here’s the good news. The asking prices for homes are still increasing, but prices are beginning to stabilize. According to Trulia’s Price Monitor report for May, none of the 100 largest metros had a year-over-year price gain of more than 20%. That’s the first time that’s happened since July 2012.

Kolko said that’s a very good thing.

“Today, with no markets seeing price gains of more than 20% and only four markets seeing price declines, home price changes are looking more balanced, sustainable and widespread than at any point since the price recovery began,” Kolko said.

The four markets where asking prices are on the decline are El Paso, Texas; Hartford, Connecticut; Albany, New York; and Little Rock, Arkansas.

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

102 Responses to Trulia: Asking prices begin to slow

  1. grim says:

    Rents in the NY metro, unfortunately, haven’t.

    Asking rents up 5.5% in May, versus 3.4% YOY in Feb.

  2. grim says:

    From the WSJ:

    Mortgage Rates Are Falling, So Where Are the Home Buyers?

    Mortgage rates have fallen close to their lowest levels in nearly a year, but housing demand hasn’t budged much yet.

    Freddie Mac reported Thursday that the average 30-year, fixed-rate mortgage rose to 4.14% this week, up from 4.12% last week but down from 4.4% just two months ago. This puts rates at roughly the same level seen in late October 2013 and again last June, when rates were zipping up as investors braced for an end to the Federal Reserve’s bond-buying programs.

    But even with low rates, mortgage applications have been soft, according to a separate report from the Mortgage Bankers Association, a sign of still muted demand for home loans.

    What’s going on?

    First, a longer view helps. True, mortgage rates are low—as low as they’ve been in almost 12 months. But in the same way that shoppers may not be lured by “low prices” at a department store that is always advertising a sale, mortgage rates at 4.1% may not be seen as a steal by buyers who lived with rates that were even lower for all of 2012 and the first half of 2013—especially considering that prices have moved higher.

    Some look at this and say: wait a minute, a 4.5% mortgage is still an insanely good deal. Why would a rise in rates to levels that are still quite low hurt housing demand? One possible explanation: the overall level of rate matters over the long run, but the speed with which rates rose last year could have dented demand in the short run.

    Moreover, incomes have showed little growth, meaning that it will be harder for more buyers to buy homes if prices continue to rise absent some gains in wages or even bigger declines in financing costs. Sales are also being restrained by low levels of homes for sale, which is pushing prices higher. Some would-be buyers don’t have enough equity to sell their current home, while others have high levels of student debt.

  3. Funnelcloud says:

    Today is a day to give thanks to those who paid the ultimate price 70 years ago , god bless those long gone and continue to watch over those still here. I would hope that all Americans will take a moment of their time to reflect upon what they did and acknowledge the sacrifices they made.

  4. anon (the good one) says:

    didn’t mean to offend your sensibilities, specially since you describe yourself being not particularly a fan.

    what if we were to label him the best president we ever had with Alzheimer’s disease while in office? (this according to his own son) what about that?

    WestJester says:
    June 5, 2014 at 2:17 pm

    RE 38
    While I’m not particularly a Reagan fan, it seems unnecessarily parrot-like to label him a ‘failed actor’.

    anon (the good one) says:
    June 5, 2014 at 8:12 am
    leaders and visionaries come from all walks of life, so they shouldn’t only come from private sector. plenty of crooks, criminals, rapacious individuals in the private sector, even worse plenty of mad Fundamentalists like Ragnar.

    Reagan was a failed actor, Walesa a union leader, Havel a writer, Gandhi etc, etc.

    grim says:
    June 5, 2014 at 7:21 am

    Politicians should come from the private sector to serve, and they should have proved themselves to be leaders and visionaries on their own time (and dime).

  5. Michael says:

    Well said!

    It’s sad that the new generations are beginning to forget the lessons of wwII. America’s last great moral combat. Another 20 years, and most will forget all together. And so history is doomed to repeat itself.

    Funnelcloud says:
    June 6, 2014 at 7:23 am
    Today is a day to give thanks to those who paid the ultimate price 70 years ago , god bless those long gone and continue to watch over those still here. I would hope that all Americans will take a moment of their time to reflect upon what they did and acknowledge the sacrifices they made.

  6. jj says:

    Rents are going up. But unless you are under 30 you should have bought something between Spring 2009 and Spring 2014. Or at least locked in a rent stabalized apartment or a deal with a landlord who is nice.

    To sit in a fully unregulated apartment with a full for profit landlord looking to jack rents every chance he gets and those not care who lives there you better have your old bedroom available at home cause soon you will be priced out of your rental.

  7. jj says:

    Today is National Donut Day and I do give thanks

    3.Funnelcloud says:
    June 6, 2014 at 7:23 am
    Today is a day to give thanks to those who paid the ultimate price 70 years ago , god bless those long gone and continue to watch over those still here. I would hope that all Americans will take a moment of their time to reflect upon what they did and acknowledge the sacrifices they made.

  8. jj says:

    4.5 Mortgage is a LOUSY DEAL IT SUCKS IT IS LOANSHARKING.

    Why when I gave out mortgage at my brief stint at a bank we always priced it at 200BPs. So we could pay 6% on savings and borrow at 8%

    Today banks are paying 1/10 of one percent on savings and mortgages are 4.5% almost a full 450 basis points.

    Mortgages are twice as high as they were 30 years ago

  9. Count "Ragnar The Magnificient" DeMoney says:

    My pet peeve is the present day Boomer Locust mindset of “War-Profiteering is good free-market/pro Ayn “I’m a nutjob”Rand policy.

    Let’s see if we would have won WW2 with all these war profiteers/ aka- contractors we got today. What is standard business in the military contracting are today, was considered war profiteering that would get you shot for treason during WW2.

    Michael says:
    June 6, 2014 at 8:06 am

    Well said!

    It’s sad that the new generations are beginning to forget the lessons of wwII. America’s last great moral combat. Another 20 years, and most will forget all together. And so history is doomed to repeat itself.

    Funnelcloud says:
    June 6, 2014 at 7:23 am
    Today is a day to give thanks to those who paid the ultimate price 70 years ago , god bless those long gone and continue to watch over those still here. I would hope that all Americans will take a moment of their time to reflect upon what they did and acknowledge the sacrifices they made.

  10. Comrade Nom Deplume, a.k.a. Captain Justice says:

    [7] JJ

    “Today is National Donut Day and I do give thanks”

    As usual, JJ, you are the Man!

  11. grim says:

    Let’s see if we would have won WW2 with all these war profiteers/ aka- contractors we got today. What is standard business in the military contracting are today, was considered war profiteering that would get you shot for treason during WW2.

    A good point.

  12. chicagofinance says:

    Count DeMoney says:
    June 6, 2014 at 8:29 am
    My pet peeve is the present day Boomer Locust mindset of “War-Profiteering is good

    http://www.youtube.com/watch?v=ZIniljT5lJI

  13. Michael says:

    I’m not going to argue that. The pentagon is the fed govt. Everything else is just noise. We have not been in an actual war since the Korean War. Everything else was just an operation. Vietnam was not a war. Iraq was not a war. They were all operations.

    War sucks. It’s completely pointless. Only people for it, are the one’s who get rich off it. The Guns N’ Roses song, “Civil War”, great song. “What’s so civil about war anyway?” “I don’t need your civil war, it’s feeds the rich, while it buries the poor.”

    Count “Ragnar The Magnificient” DeMoney says:
    June 6, 2014 at 8:29 am
    My pet peeve is the present day Boomer Locust mindset of “War-Profiteering is good free-market/pro Ayn “I’m a nutjob”Rand policy.

    Let’s see if we would have won WW2 with all these war profiteers/ aka- contractors we got today. What is standard business in the military contracting are today, was considered war profiteering that would get you shot for treason during WW2.

  14. Fast Eddie says:

    anon (the good one),

    I’d rather have Reagan in his current state than the muppet that’s currently occupying the White House.

  15. Fast Eddie says:

    Payrolls in U.S. Rose 217,000 in May, Unemployment at 6.3%

    Why is the FED not boosting rates?

  16. Mike says:

    3- Funnel Nice article in today’s Ledger if you get a chance

  17. Fast Eddie says:

    My Father was a member of the VFW Post and I used to love talking to the Vets that served in WWII. The stories they told were just fascinating. That truly was a generation of men and women to be admired.

  18. Comrade Nom Deplume, a.k.a. Captain Justice says:

    [9] count,

    Your rant reminds me of this example of how Roosevelt ran the wartime economy

    http://www.slate.com/blogs/moneybox/2012/12/27/fdr_nationalized_montgomery_ward_the_war_economy_and_the_postwar_years.html

    Yglesias is a propagandist so you have to dig further for the full story. Essentially, the Feds took over Montgomery Ward after the CEO (an ardent FDR foe) refused to negotiate with a union and there was a strike. The Labor Board had (supposedly had, there was a dispute about this) authority to force companies to deal with labor to prevent shortages of wartime materiel.

    The government famously sent in the Army to seize Montgomery Ward and physically remove the CEO (there are photos of soldiers carrying him out) and said it was done to prevent wartime shortages pursuant to the Labor Board’s authority. While the government (actually, the Army) was in control of the company, managers who were intransigent were threatened by Army officers with dismissal and reclassification of their draft status (thought you would like that one, Joyce).

    But what always bugged me about this episode was that Montgomery Ward was a retailer with lots of competition so it’s hard to see how that impacted the availability of materiel for wartime. The predicate for seizure was that Montgomery Ward manufactured some of what it sold, and the government took the position that ANY manufacturing was “for the war effort.” For example, it manufactured farm equipment and work clothes. Since these were sold in the US, and in other friendly countries (e.g., Canada), that meant the company sold to “Allies” and that was all the feds needed for jurisdiction. Interestingly, those facts are rarely raised in many of the narratives about that event, nor does it explain why the government took over the entire company. That issue, and the issue of the Labor Board’s constitutional authority, were never fully adjudicated because the government returned control of the company before it could be heard, and the war later ended.

    Truman later tried similar heavy-handed tactics but got his butt handed to him in the Youngstown Sheet and Tube case. After that, and the eventual collapse of price and wage controls through “deregulation” in the 70’s and 80’s, we haven’t seen government interference in the private sector to that degree since TARP and the auto bailouts.

  19. Michael says:

    13- I want to clear up my point. Read it over, and it was not clear. I was pointing out that even though congress has not declared war since the korean war, the pentagon is so powerful, it doesn’t need congress to use it’s weapons anymore.

  20. grim says:

    Since we’re on WWII today, if you folks haven’t read Unbroken yet, highly recommend it, amazing story.

  21. joyce says:

    http://en.wikipedia.org/wiki/Declaration_of_war_by_the_United_States#Declarations_of_war

    Michael says:
    June 6, 2014 at 9:07 am

    13- I want to clear up my point. Read it over, and it was not clear. I was pointing out that even though congress has not declared war since the korean war, the pentagon is so powerful, it doesn’t need congress to use it’s weapons anymore.

  22. Comrade Nom Deplume, a.k.a. Captain Justice says:

    That wasn’t FDR and the democrats’ final word on the subject, as noted herein

    http://en.wikipedia.org/wiki/Maximum_wage

    Worth noting was that FDR proposed capping annual earnings at 25,000, taxation of gov securities interest, and later the dems proposed a 100% tax on earnings over $40,000. The outgrowth of that failed effort was the high marginal rates on incomes over a certain level that the Dems continue to argue to this day were not harmful to the economy (despite the fact that the economy of the 40s-70s bears little resemblance to the economy of today).

  23. Comrade Nom Deplume, a.k.a. Captain Justice says:

    [22] errata

    should be “25000 left after taxes” The original, and later, proposal was a 100% tax on earnings over 40,000 (leaving 25K after taxes). Original sentence was misleading.

  24. grim says:

    $40,000 in 1942 adjusted for inflation is a touch under $600,000 today.

  25. Count "Ragnar The Magnificient" DeMoney says:

    Comrade #18:

    You forget to mention, that big business America had a large contigent that was pro-Fascist during WW2 and would gladly be a 5th columnist in their behavior to thwart the war effort.

    Montgomery Ward’s CEO was one of those names mention by Gen Smedley Darlington Butler during his public confession of how he was recruited to do a pro-fascist/pro-business coup d’etat in 1937. Needless to say that Lindbergh was well know advocate of this mindset.

    Yes, FDR, was very correct on carrying out that type of behavior. Because as you have seen over the last few years, the economic royalist aka 0.01% will stop at nothing and they got everything under control. They are way more powerful now than they were ever at FDR’s time, simply because FDR was FDR and not some bought out baby boomer president (Clinton, W, Obama)

  26. Count "Ragnar The Magnificient" DeMoney says:

    PS. – FDR’s genius was to keep the country alive and able to win WW2.

    Public Surveys from the time regularly showed 1/3 of the country wanted to go fascist (usually in the south), 1/3 wanted to go communist (usually big cities) 1/3 wanted to keep it as is (usually mid-west).

  27. grim says:

    Payrolls up 217k, UE at 6.3%, sun is shining and it’s a beautiful day.

  28. Comrade Nom Deplume, a.k.a. Captain Justice says:

    [25] count,

    I’ll not argue over unsupported conspiracy theories and inflammatory labels. I know where you stand and I’ll not presume to move you by arguing over which side was more “american”. The facts (actual facts, not “economic royalist” as a fact) are what they are and people can review them and decide.

    [24] grim

    I saw different, lower, numbers, but still a munificent six figure sum.

  29. Comrade Nom Deplume, a.k.a. Captain Justice says:

    [27] grim

    You have to know that everyone is channeling their inner Jack Welch right now.

  30. grim says:

    From MarketWatch:

    U.S. surpasses 2008 peak in employment

    After six years, the U.S. economy has finally recaptured the total number of jobs lost due to the Great Recession. There are now 138.46 million people working outside the farm sector, according to the Labor Department. It took the longest since the war for this to happen, according to Minneapolis Fed data. The 1980 recession took 44 months from the peak to recover; this one took 77 months.

  31. Michael says:

    Thanks for the share. Wow, I thought the Korean War was an actual declaration of war. Guess it’s true, the military industrial complex took control as wwII was ending. I guess it started from the immense power that was given to govt, as nom has kindly provided evidence for today.

    joyce says:
    June 6, 2014 at 9:12 am
    http://en.wikipedia.org/wiki/Declaration_of_war_by_the_United_States#Declarations_of_war

    Michael says:
    June 6, 2014 at 9:07 am

    13- I want to clear up my point. Read it over, and it was not clear. I was pointing out that even though congress has not declared war since the korean war, the pentagon is so powerful, it doesn’t need congress to use it’s weapons anymore.

  32. grim says:

    31 – By military industrial complex do you mean the UN Security Council?

  33. Comrade Nom Deplume, a.k.a. Captain Justice says:

    [28] redux

    Interesting factoid of interest only to me: The general Count referred to grew up near where I live. One of the Darlington estates is visible from my home office.

  34. grim says:

    Looks like BC has a new mascot, this isn’t a good sign:

    Wandering bear cub captured in Paramus

  35. Comrade Nom Deplume, a.k.a. Captain Justice says:

    Another Interesting Factoid, Now Debunked, Of Interest Only to Me:

    In the past, I was told, and mentioned that Martha Stewart supposedly lived near here, not far from the Wyeth properties. The person who first told me was a very well known and well respected construction consultant that I hired. Others confirmed this so I assumed it to be true even though I had only a few anecdotal accounts, one of which struck me as odd but I chalked it up to the eccentricities of celebrity.

    But today, when discussing a nearby farm, I thought to finally ask a neighbor and district election judge (whose husband is a Supervisor in the town) and she said “its a myth. I know how that story got started but its not true.”

    So while there is plenty of wealth and history around here, that celebrity is not among us.

  36. 1987 Condo says:

    #31..really? Just watching MASH you know it was a “police action”….

  37. Comrade Nom Deplume, a.k.a. Captain Justice says:

    [34] grim

    Not that unusual to see bears. Just before I left the brig, a bear did some damage in my neighbors’ yards. I think I commented on that back then.

  38. JJ says:

    When folks get their 2Q 401K statements and broker dealer statements we should have a case of the wealth effect. Back in Late 1999 and 2006 spending was really boosted as folks watched their paper profits soar to the moon.

  39. Comrade Nom Deplume, a.k.a. Captain Justice says:

    [26] count

    An unprovoked attack by a foreign power is a demagogue’s godsend. At least he didn’t have to fabricate the predicates for war; he merely needed to sit on the intelligence and let it happen.

  40. joyce says:

    Who’s dabbling in conspiracy theories now? Ps. I believe ALL conspiracy theories.

    Comrade Nom Deplume, a.k.a. Captain Justice says:
    June 6, 2014 at 10:08 am

    [26] count
    An unprovoked attack by a foreign power is a demagogue’s godsend. At least he didn’t have to fabricate the predicates for war; he merely needed to sit on the intelligence and let it happen.

  41. JJ says:

    372 Princeton Rd, Rockville Centre NY, 11570

    I have never seen this before!!! I have seen tons of 50’s Pink Bathrooms still in houses but I ran across this MLS listing that had an original PINK KITCHEN> yes pink oven, pink counters etc. Has anyone ever seen this before

  42. Fast Eddie says:

    So, last week, I saw a guy standing at a podium, sporting a beard of the prophet, speaking Pashto and standing next to an American President named Barrack Hussein. If I would have said you’ll witness this shortly after 9/11, you would have asked me if I was smoking top soil. And, we release five top commanders of the enemy during an ongoing armed conflict. Does anyone see any irony here?

  43. Michael says:

    lmao….insanity

    Fast Eddie says:
    June 6, 2014 at 10:33 am
    So, last week, I saw a guy standing at a podium, sporting a beard of the prophet, speaking Pashto and standing next to an American President named Barrack Hussein. If I would have said you’ll witness this shortly after 9/11, you would have asked me if I was smoking top soil. And, we release five top commanders of the enemy during an ongoing armed conflict. Does anyone see any irony here?

  44. grim says:

    37 – When bears outnumber unicorns, it’s all over.

  45. Comrade Nom Deplume, a.k.a. Captain Justice says:

    [40] joyce,

    It is well documented that the US knew of a planned attack by the Japanese. The problem is that the intelligence was downplayed and what little intelligence actually released was mishandled or worse. We had broken the diplomatic codes so we knew what to expect. The “east wind rain” message was the code that would inform the embassy that an attack was imminent. Again, it is well-documented that our crytographers were told specifically to look for this.

    It has been long argued, and disputed, that the administration knew but suppressed information or that the British knew but suppressed information. Obviously, nothing is proven with physical evidence so you have to look to the testimony of those involved. A principal was Capt. L. Safford, who was head of the naval codebreaking and codemaking unit. Later, an article in Foreign Affairs that debunks the conspiracy theories notes that “[Safford] insisted that the “winds” code had been executed and that evidence of it had been suppressed. On December 3 or 4, he said, Japan had broadcast “East wind rain,” meaning war was imminent with the United States. The intercept with the serial number JD-1:7001 was not in the files; this was obviously the “winds” execute, Safford charged, and it was missing because higher authority had ordered the removal of this evidence.” (the author argues that removal would have made no sense).

    This is part of Safford’s testimony: ” . . .I first saw the “Winds Message” about 8:00 a. m. on Thursday, December 4, 1941. Lieutenant A. A. Murray, U. S. N. R., came into my office with a big smile on his face and a piece of paper in his hand and said, “Here it is!” as he handed me the “Winds Message”. As I remember, it was the original yellow teletype sheet with the significant “Winds” underscored and the meaning in Kramer’s handwriting at the bottom. Smooth copies of the translation were immediately prepared and distributed to Naval Intelligence and to S. I. S. in the War Department. As the direct result of the “Winds Message”, I prepared a total of five messages, which were released between 1200 and 1600 that date, ordering the destruction of cryptographic systems and secret and confidential papers by certain activities on the Asiatic Station. As a direct result of the “Winds Message”, McCollum drafted the long warning message, previously referred to, which was disapproved by higher authority, but which the Navy Department C. I. Unit believed had been sent. Both Naval Intelligence and the Navy Department C. I. Unit regarded the “Winds Message” as definitely committing the Japanese Government to war with the United States and Britain, whereas the information of earlier dates had been merely statements of intent. We believed that the Japanese would attack by Saturday (December 6), or by Sunday (December 7) at the latest. . . .”

    And he wasn’t the only one to intercept this code. This is from a summary of some historians’ works on the subject and doesn’t include corroborating testimony by Australian and New Zealand codebreakers:

    “Ralph Briggs was a Navy chief petty officer and a Japanese linguist stationed at the Naval Communication Station in Cheltenham, Maryland. He served as a chief watch supervisor. He reported that he personally intercepted the “East Wind Rain” execute message on December 4.

    Briggs’ account is supported by a document released by the National Security Agency in 1980 (National Archives Document SRH-051). The document reveals that in 1977 the Naval Security Group interviewed Briggs regarding the execute message and that Briggs reported that he intercepted the “East Wind Rain” execute message on December 4, that he was later ordered by his superior officer not to testify to the JCC, and that he had discovered that the copies he had made of the message were missing from the station’s files.[20]

    Captain Safford was not the only senior military officer who had direct knowledge of the December 4 execute message, and the JCC by no means “shredded” his testimony. During the Navy Court of Inquiry and the Army Pearl Harbor Board investigations, two other senior military officers acknowledged seeing this message before the attack, and two additional senior officers testified that they were informed of the receipt of the message and that they discussed it with other officers.[21]

    Moreover, after the war, two former attaches in the Japanese Embassy in Washington confirmed that the “East Wind Rain” execute message was broadcast on December 4.[22] The Japanese attaches were Yuzuru Sanematsu and Yoshimori Terai. Sanematsu was the ranking naval attache and the chief intelligence officer at the Japanese Embassy, and he went on to become a leading Japanese naval historian. In his 1980 book Nichi-bei Joho Senki, he confirmed his personal knowledge that the execute message was received at the Embassy on December 4.[23] In a 1982 interview, Terai confirmed Sanematsu’s account. Terai explained that when he returned to the Embassy on the afternoon of December 4, he found his office in an uproar over the reception of the execute message.[24] ”

    Sorry Joyce, but there is a lot more corroboration there than in General Butler’s largely uncorroborated account. And while Army and Navy boards of inquiry concluded otherwise, and even the Japanese attaches at the time confirmed that it was sent, what did the Joint Congressional Committee conclude in 1946?

    “From consideration of all evidence relating to the winds code, it is concluded that no genuine message, in execution of the code and applying to the United States, was received in the War or Navy Department prior to December 7, 1941. It appears, however, that messages were received which were initially thought possibly to be in execution of the code but were determined not to be execute messages. In view of the preponderate weight of evidence to the contrary, it is believed that Captain Safford is honestly mistaken when he insists that an execute message was received prior to December 7, 1941.”

    Your witness . . .

  46. JJ says:

    Dunkin Donuts paid the japs to attack pearl harbor as they knew the servicemen would eat a ton of donuts

  47. grim says:

    Pink oven is pretty cool, I suspect they kept it for sentimental reasons. Looks like a Frigidare Imperial or Anniversary from the late 50s or early 60s. That would have been the La Cornue range of it’s time, it would have been the envy of every housewife.

  48. Bystander says:

    #27 Grim,

    Seems like it is time for a handle change..;>)

  49. grim says:

    Viking did a series of pink appliance 2 or 3 years ago, I remember seeing them at a show.

    http://www.houzz.com/photos/5103018/Viking-Pink-Kitchen-contemporary-kitchen-cleveland

  50. Comrade Nom Deplume, a.k.a. Captain Justice says:

    [49] grim

    Unless you’re Barbie or a Mary Kay saleswoman, that’s hideous.

  51. Comrade Nom Deplume, a.k.a. Captain Justice says:

    [46] JJ

    In support of JJ’s theory, I have to point out that Dunkin started in Quincy, MA, location of the Fore River Shipyard, one of the yards that cranked out ships for the war effort.

    Though I think the war predated Dunkin. Have to check.

  52. Libturd at home says:

    When I was replacing the boomerang laminate walls with wainscot in the multi, I was surprised to find pink plastic tile behind it. And behind that was the lumpiest plaster you’ve ever seen. Man did I put a ton of acrylic adhesive on the back of the wood to get it to stick to the walls.

  53. Comrade Nom Deplume, a.k.a. Captain Justice says:

    I wondered why we haven’t heard from our Troll In Chief about the college shooting in Seattle. I think I know why.

    First, a Joe Biden-approved shotgun was used.

    Second, it appears that the guy who took down the shooter was himself in violation of the school’s weapons policy by carrying mace on campus.

    http://www.spu.edu/depts/reslife/residential/documents/ResLifeGuidebook2013web.pdf

  54. Libturd at home says:

    Obviously, the shooter did not know that his wage was going up to $15 per hour. Had he known, he definitely would not have committed such an awful crime with such a bright future ahead ushered in by the world saving increase in the minimum wage.

  55. Michael says:

    Street, just finished reading this. Thanks for the share. Some really great points. I can’t believe how far down the rabbit hole I had gone.

    http://www.economics21.org/files/e21ib_1.pdf

  56. All Hype says:

    NYT: Sgt. Bergdahl is just a free-spirited young man who asked many questions but gave no indication of being a deserter. You see, he is a victim for walking away…..Oh yeah, according to the NYT, no other soldiers died because of the search for Bergdahl.

    http://www.nytimes.com/2014/06/06/opinion/demonizing-sergeant-bergdahl.html?_r=2

  57. Michael says:

    Lmao, feel bad for the husband that is whipped. If his wife likes pink, he better hope she never finds this line.

    grim says:
    June 6, 2014 at 11:28 am
    Viking did a series of pink appliance 2 or 3 years ago, I remember seeing them at a show.

    http://www.houzz.com/photos/5103018/Viking-Pink-Kitchen-contemporary-kitchen-cleveland

  58. grim says:

    Go long commercial space immediately outside Seattle city limits…

  59. joyce says:

    45
    Counselor,

    I’m not sure how from my post you perceived I disagreed with that version of events, or something similar.

    Don’t you find it ironic that ‘conspiracry theorists’ are ridiculed even when sometimes those doing the ridiculing believe in their own, let’s just say not universally accepted, theories?

  60. Pete says:

    #53

    Should we be ignoring the troll or wondering aloud as to why he is not trolling us? Again I am getting conflicting messages from you.

  61. Comrade Nom Deplume, a.k.a. Captain Justice says:

    [58] grim,

    Earlier in the week, I posted why that may not come to pass. Seattle’s geography, the long phase-in, and the current state of the economy there mean that any tax-related movement is going to be marginal. Only a certain percentage of businesses (a) can move and (b) pay a sizeable percentage of their workforce under $15 per hour. In fact, the ones that are most affected by the legislation, food services, are least mobile.

    The proponents know this, which is why the law passed. Look also for other provisions of the law, or new laws, to deal with government contractors or service providers and cross-border employers who reside outside but provide services inside Seattle.

    For example, a landscape co. moves from inside Seattle city limits to Renton to avoid min. wage but still services 80% of its accounts in Seattle–Seattle will argue that they are subject to the law for that 80% at least.

    They can even try to go further and argue that a small business mom and pop LLC that is domiciled outside of the city but owned by city residents, is a Seattle-based business based on the location of the owners. Or even its workers.

    These are intensely fact-dependent arguments but I can see the arguments and cases coming.

  62. Comrade Nom Deplume, a.k.a. Captain Justice says:

    [61] pete,

    Both. These are not mutually exclusive concepts. And I believe I said I would not engage, not that I would ignore. You can ignore the trolls’s arguments (by refusing to engage him) and ridicule the troll at the same time.

  63. JJ says:

    Grim have you ever seen a Pink Kitchen before? It is very cool. They should really sell the retro stuff and replace it with standard stuff.
    47.grim says:
    June 6, 2014 at 11:24 am
    Pink oven is pretty cool, I suspect they kept it for sentimental reasons. Looks like a Frigidare Imperial or Anniversary from the late 50s or early 60s. That would have been the La Cornue range of it’s time, it would have been the envy of every housewife.

  64. 1987 Condo says:

    #62, I understand that the $15 rate is not fully achieved until 2021…

  65. JJ says:

    Owning a home no longer the American Dream
    Why millennials love apartments.

    By Les Christie, CNNMoney.com – 06/04/2014
    Economic Insight Financial Planning
    Send to (Separate multiple e-mail addresses with commas) Please enter a valid e-mail addressYour E-Mail Address Please enter a valid e-mail addressMessage (Optional) Important legal information about the e-mail you will be sending. By using this service, you agree to input your real e-mail address and only send it to people you know. It is a violation of law in some jurisdictions to falsely identify yourself in an e-mail. All information you provide will be used by Fidelity solely for the purpose of sending the e-mail on your behalf.The subject line of the e-mail you send will be “Fidelity.com: ”
    Your e-mail has been sent.
    The great American Dream is dying. Even though many Americans still desire to own a home, they are losing faith in homeownership as a key to prosperity.

    Nearly two-thirds of Americans, or 64%, believe they are less likely to build wealth by buying a home today than they were 20 or 30 years ago, according to a survey sponsored by non-profit MacArthur Foundation. And nearly 43% said buying a home is no longer a good long-term investment.

    “Americans no longer see homeownership as a secure path to building equity and wealth,” said Geoff Garin president of Hart Research Associates, which conducted the survey of 1,355 adults.

    “That has made them more willing to think fresh about their housing options,” he said.

    A majority of respondents said they believe renting is more appealing than buying — and that renters are just as likely to be successful financially as someone who owns a home.

    During the first quarter, the homeownership rate dipped to one of its lowest levels in almost two decades, according to the Census Bureau.

    Historically, owning a home has been considered an essential part of achieving the American Dream.

    However, the housing bust, with its explosion of foreclosures, changed all that.

    “People believed if you reached the middle class, you didn’t have to make the difficult decision of renting or buying without falling behind on credit card payments or health care bills,” said Garin.

    And even though many experts say the housing market is recovering, many Americans aren’t buying it.

    The survey found that 70% of Americans still believe we are in the midst of the crisis and nearly 20% think the worst is yet to come.

    That’s because many Americans were impacted directly by the economy and the housing bust and are still struggling to get by.

    More than half of those surveyed said they had to take on an additional job or work extra hours, stop saving for retirement, accumulate credit card debt or cut back on health care in order to afford their housing payments at least once over the past three years.

  66. Libturd at home says:

    #62, I understand that the $15 rate is not fully achieved until 2021…

    It’ll take that long to get all of the kinks worked out of the kiosks.

  67. Juice Box says:

    New waterfront eyesore going up over the Driscoll Bridge in Sayreville on what is now a dirt mound.

    Christie just gave them 1/4 billion in tax breaks too.

    http://luxurypoint.com/about/

    A major new shopping mall and housing development in New Jersey, which is controlled by the biggest corporate funders of Chris Christie’s official mansion, has been awarded a $223m public subsidy by the governor’s administration.

    Luxury Point, a vast retail, residential and entertainment complex to be built in Sayreville, was last month given one of the biggest corporate tax breaks handed out so far by the Republican governor’s state authorities, which are facing a $2.7bn budget shortfall over the next year.

    The $223.3m, 10-year subsidy was awarded without fanfare to Sayreville Seaport Associates LP, a corporate partnership that owns the 440-acre development alongside the Raritan river, where construction on a shopping mall targeted at millennials is due to begin later this year.

    But a detailed proposal for the $2bn venture discloses that the project is majority-owned by Prudential, the New Jersey-based financial and insurance giant, which has in the past three years given more than $125,000 to the Republican Governors Association, which Christie chairs.

    The company is also the most generous corporate backer of a foundation that raises as much as $1m a year to maintain and restore Drumthwacket, Christie’s official mansion in Princeton, which the governor uses to host private dinners, receptions and other events. Prudential contributes at least $50,000 a year, securing it “diamond” status from the foundation.

    Prudential’s chairman and chief executive, John Strangfeld, chairs the Drumthwacket Foundation, and his wife, Mary Kay, is the vice-chair. The couple has donated at least $5,000 a year to the foundation themselves since Christie entered office, according to its website. FEC filings say that in 2012, John Strangfeld gave $25,000 to the Republican presidential campaign of Mitt Romney, which Christie served as a top fundraiser, and the party’s national committee.

    The subsidy for Luxury Point was awarded by Christie’s economic development authority (EDA) one week after Prudential posted a profit of $1.24bn for the first quarter of 2014.

    Bob DeFillippo, a spokesman for Prudential, said of the financial contributions by the firm and the Strangfelds: “None of these activities had any impact on this project”.

  68. Juice Box says:

    Luxury Point located in the center of the armpit of NJ will be using start of the art Minority Report like advertising too.

    Watch the video and picture the pileups….

    http://www.youtube.com/watch?feature=player_embedded&v=sG1m81dWfuY

  69. JJ says:

    So reading this article on salary.com saying you should not disclose personal things at work it might hurt your career, stuff like religion, political views, are you straight, does you husband or wife make a lot of money, do you like to party in free time, do you have a side job.

    I noticed a lot of younger folk meaning under 30 really dont talk about personal stuff at all. They have their little smart phones and text or email so I have no clue about anything.

    I guess I can see if you are a muslim working in a firm attacked in 9-11 or a swinger, or your wife is making a ton of money sure that could hurt.

    But on other hand if you are same religion as boss, or married with kids and a stay at home wife, or just talk some BS with boss I would think all things being equal it would help your career.

    I have a staff member, dont know religion, if they are straight, what they do after work, or weekends, if they date, what their parents do, when their birthday is it is really odd. Now this is three years now. I later found out the employee was a good worker at a prior company but got caught up in a layoff as the boss did not even know who the person. It was just a name on a piece of paper. Lot easier to pick a name on a piece of paper than someone whose wife sends you xmas cards and has photo of kids on desk and a stay at home wife.

    Sure I can see it hurting you but what possible reason does a straight male with a stay at home wife and 1-2 kids with a normal religion have to hid his personal life. I like to thing the worst and people like that all kinds of stuff run through mind meanwhile they could just be planing flowers and reading the paper on the weekend.

    What do you think?

  70. Juice Box says:

    re # 70 – JJ we recently had a lunch meeting where someone objected to the location choice based upon their beliefs. As if a strip joint was a bad place to have a steak or something.

  71. Ragnar says:

    Nothing says luxury mall anchor like a 200,000 square foot Bass Pro Shop. When does the Short Hills Mall get its Bass Pro Shop?

  72. Michael says:

    68- How the hell does an in debt state give a 1/4 billion dollar tax discount to build more houses and malls? Wtf? Fat man you suck. Take that money and put it towards a down payment in leveling newark. Create a super business hub there that will rival silicon valley. You have nyc and the port right by newark. Int airport too. Let’s get some business minded people in office. This is a joke.

  73. Ragnar says:

    JJ,
    I think having you as HR manager would be hell.
    Which woman would you hire: a hot Satanist who writes on her resume that she’s bi-curious and polyamorous, or a non-hot “normal religion” one? Other things equal.

  74. All Hype says:

    Juice (68):

    Putting condos on top of the National Lead Superfund Site.

    Sorry, I will pass on that.

  75. Comrade Nom Deplume, a.k.a. Captain Justice says:

    [72] ragnar,

    Christiana Mall, which is arguably Delaware’s version of Short Hills has a new, kickass Cabelas.

  76. JJ says:

    Actually I never had an HR complaint. The ladies love me, the girls adore me, even the ones who never saw me.

    Seriously, I am also a Performance Manager and have been in a role to do peoples reviews and assign raises or bonus etc. for like one and off for around 20 years

    Someone who other than the they are single and around their 30s kinda hard for me to give career advice if I know absolutely nothing. And not that I am prying but for example I had one staff member I sat like five feet from, bonus time was coming and since I knew they had low expense and the stock market was low I did a solid and got them a bigger portion of def comp. Which actually worked out great as I got her more than if she got cash and market went straight up. So she gave me a poo poo face. Which makes no sense. I then find out she was closing on a expensive condo in a few days and wanted more cash than stock in that year, all cash if she could. But since they dont talk what do I guess? I had one guy who was sneaking out and leaving early and I was on top of him, then as we are writing him up he announces his Dad is very sick and I am like show me proof and we wont send to HR. I am like look you cant go sneaking in late and sneaking out early and he was like I dont like to share my personal life. Than God we forced him out eventually. I had one chick many years ago who hit a pregancy and I was staffing a business trip to Europe she sat there and said nothing and she was getting fatter and fatter and right before trip she announces I guess I have to tell you and we are like no kidding. I am like WTF why jerk me around. Who cares that your husband did you a few months ago.

    74.Ragnar says:
    June 6, 2014 at 2:38 pm
    JJ,
    I think having you as HR manager would be hell.
    Which woman would you hire: a hot Satanist who writes on her resume that she’s bi-curious and polyamorous, or a non-hot “normal religion” one? Other things equal.

  77. JJ says:

    As long as you dont buy ground floor units. In Port Washington Long Island many years ago they built a huge housing complex right on a dump site. Rather than remediate it completely they just put a restriction no one under 65 could buy a place there. The cancer stuff takes 30-40 years so who cares the old folk will be dead anyhow

    75.All Hype says:
    June 6, 2014 at 3:32 pm
    Juice (68):

    Putting condos on top of the National Lead Superfund Site.

    Sorry, I will pass on that.

  78. JJ says:

    Houses built on Dumps in New Jersey

    NEW JERSEY
    North Wildwood – The Tides At Seaboard Point developed by K. Hovnanian Companies
    Pitman – Alcyon Lake – adults who attended camp by Alcyon Lake – cancer cluster
    Ringwood – neighborhood near Ringwood Landfill, Peters Mine – cancers cluster
    Sayreville – Sayreville Landfill II, and Sayreville Landfill III surrounding neighborhoods – cancer cluster
    South Amboy – O’Leary Boulevard homes
    Toms River – Ciba-Geigy Chemical Dump contaminated community drinking water wells – cancer cluster

  79. grim says:

    Uber worth $17 billion?

  80. JJ says:

    The Tides At Seaboard Point, down in Wildwood and look really nice

    Wonder how much these condos went for in 2006 when brand new. Funny I looked up some ads and not a single ad mentions maint or taxes. Out by Long Island maint and taxes are more important than price. After all we have a lot of 55+ cash buyers of condo so the purchase price is one time the monthly nut is forever.

  81. The ghost of EPA Superfund sites says:

    JJ – Sorry, you left out the whole so called Gold Coast of NJ – from the GWB to Bayonne. All on gigantic superfund site.

    My favorite was at Gorge Road & River Road in Edgewater. They had the Superfund EPA site sign for years. When the development of “City Place” (whose construction was chronicled in some of the Sopranos episode) was started the developers landscape the area, but made sure the trees and weeds covering the sign remained.

    By the way, I do agree is better to keep your mouth shut and not let anybody know much. Had baby boomer dentist. When 2009 came around started mouthing usual “tea Party” crap to me, made several outright offensive comments, knows me for 20+ yrs. He forgot where his bread and butter comes from. I started looking his record. 2 – 30 days suspension and 2 fines ($5000 & $7500) for insurance fraud issues. I left him, could not trust him anymore, and figure that my suspicion of some likely unneeded work in the past, were ways to pad the bill.

    I’m sorry, but it’s better to stay of the radar much of the time then to be known. You have a sociable personality, but what about the miserable d0uch3bag boss, which there are plenty. In this area, is better to be by the book with the minimum of information required to be out there.

  82. Painhrtz - Checking privildge, Yep don't have any! says:

    Bass Pro Shops is the the Kmart of outdoor stores it will fit in well in Sayreville.

    Looking forward to Luxury point mad hatter’s disease

  83. ccb223 says:

    JJ — I think you need to open up a little bit ….at least to some of the key folks/direct reports…if not merely for the simple reason that people let a lot of sh*t slide if they like you. If you screw up and nobody cares about you…not a good look.

  84. anon (the good one) says:

    is JJ gone?

    @NewsBreaker: JUST IN: General Motors announces four more recalls, affecting almost 90,000 vehicles in the United States – Reuters @RodrigoEBR

  85. anon (the good one) says:

    A lady walks into a bar… (self.Jokes)
    submitted 6 hours ago by z0m_a

    She orders a drink and notices a frog in a cage behind the bar. She asks the bartender about it and the bartender says this frog performs oral sex on women. The woman has a few more drinks and her curiosity gets the best of her so she asks the bartender to have the frog go down on her. She gets up on the bar in the appropriate position and the bartender puts the frog there and tells it to do its thing. The frog just sits there. The bartender moves the frog to the side and says, “I’m only going to show you one more time!”

  86. anon (the good one) says:

    @BloombergNews: BREAKING: VIX Index — a widely used measure of market volatility — closes at lowest level since February 2007

  87. 30 year realtor says:

    Wrote awhile back about a house I offered on in Hawthorne. Large 2 family on a dead end street near the train station. Built in the early 1970’s. House is a bit tired but good floor plan, 2 car attached garage and nice yard. I offered $450,000 on a $525,000 ask. Seller is now coming back to me through his broker who is a family friend. Broker offered to take no commission if I would do the same. Said I need to increase my offer a little. Think I will pull the trigger. Current owner paid $560,000 in 2004.

  88. chicagofinance says:

    You left the bodies and only moved the headstones…..
    http://www.youtube.com/watch?v=41tO0xwSsco

    JJ says:
    June 6, 2014 at 3:45 pm
    As long as you dont buy ground floor units. In Port Washington Long Island many years ago they built a huge housing complex right on a dump site. Rather than remediate it completely they just put a restriction no one under 65 could buy a place there. The cancer stuff takes 30-40 years so who cares the old folk will be dead anyhow

    75.All Hype says:
    June 6, 2014 at 3:32 pm
    Juice (68):

    Putting condos on top of the National Lead Superfund Site.

    Sorry, I will pass on that.

  89. Juice Box says:

    Grim – Uber after all is Uber!

  90. Juice Box says:

    One of the original proposals back in 2006 for the lead dump in Sayreville was 20,000 apartments and a 38 story office building. I gather they would have needed a dozen schools if that went through.

  91. Life is cancerous. Build everywhere; it all turns to dust in the end.

  92. Just gimme my guns and leave me the fcuk alone.

  93. Fast Eddie says:

    30 year realtor,

    Go up to 460K and leave it there. Let them come back to you after they get over the anger.

  94. beaver says:

    Fast Eddie says:
    June 6, 2014 at 9:02 am
    Payrolls in U.S. Rose 217,000 in May, Unemployment at 6.3%

    Why is the FED not boosting rates?
    ============
    Because talk is cheap, the truth only lies what they do.

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  96. Michael says:

    If you take this advice, you won’t be buying anything.

    Fast Eddie says:
    June 6, 2014 at 9:58 pm
    30 year realtor,

    Go up to 460K and leave it there. Let them come back to you after they get over the anger.

  97. Fast Eddie says:

    Michael,

    I’m a two-time, 20 year home owner. I’m not into financial chicanery nor do I get discounts from family members. If you want to pitch in on my next purchase, then I’ll but anything at whatever price. Otherwise, shut the f.uck up.

  98. Fast Eddie says:

    Buyers dictate the hammer price, not sellers. And in this market, the majority of sellers are not even qualified.

  99. Libturd at home says:

    Can we just get it out of the way and call it Xanadu 2.

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