Renters by choice?

From the Washington Post:

Renters fear they lack the credit, not just the cash, to buy a home

Many renters who want to buy a home might not even try to because they fear that they won’t qualify for a mortgage, researchers at the Federal Reserve Bank of New York concluded Monday after analyzing the results of a consumer sentiment poll.

The renters on average said they had a 63 percent chance of moving during the next three years, but only 44 percent would buy a home if they moved. Those who were reluctant to buy cited traditional reasons, including not enough savings or income. But a sizeable portion (41 percent) also said they were worried that their credit scores would not pass muster. (Note that the 344 renters surveyed could check more than one reason for not buying.)

As we wrote Sunday, lenders have shied away from extending mortgages to less-than-stellar borrowers in a bid to shield themselves from financial penalties and lawsuits. They’re demanding higher standards from borrowers seeking government-backed loans than even the government requires. And policy makers fear that the lack of access to credit is hurting the housing market’s recovery.

But even if the lenders were to ease their credit standards, it’s unclear whether many renters would bother to apply for a mortgage, according to researchers Andreas Fuster, Basit Zafar and Matthew Cocci. In their analysis, they concluded that many potential buyers with relatively low credit scores (meaning below 680 in this analysis) feel “discouraged,” convinced that they would not qualify for a loan.

Of course, if lenders eased up, perhaps consumer perceptions would change. But for now, about two-thirds of the renters surveyed said it would be somewhat or very difficult for them to get a mortgage. The chances of buying a home for those who think it would be tough to get a mortgage are about half what they would be for those 5 percent who think securing a loan would be easy, the analysis shows.

This entry was posted in Demographics, Economics, Employment, Mortgages, National Real Estate. Bookmark the permalink.

94 Responses to Renters by choice?

  1. grim says:

    From the Philly Inquirer:

    Area Home Values Forecasted to Fully Recover in 2019

    Philadelphia metro home values won’t return to pre-recession levels for more than five years.

    That’s the prediction from Zillow, which analyzed home values in the nation’s 100 largest metropolitan areas to see how the housing market recovery is faring. It turns out that home values in dozens of U.S. housing markets won’t recover until 2017 or later.

    In the Philadelphia metro, home values won’t climb back to their 2007 levels until the fourth quarter of 2019, according to Zillow.

    Although the Philly metro area’s median home value of $197,600 as of June is up 3.8 percent from the same period last year, it remains almost 15 percent below its peak level. Zillow forecasts a 2.9 percent increase in home values in the Philadelphia metro area within the next year.

  2. grim says:

    From the WSJ:

    Why More Renters Aren’t Buying (Hint: Weak Incomes, Savings)

    A new survey says that younger workers and other renters aren’t turning away from homeownership because they lack the desire to own homes. Instead, they’re staying on the sidelines because they lack the capacity to purchase.

    The analysis from the New York Federal Reserve Bank comes via their survey of consumer expectations in February. It polled 867 homeowners and 344 renters on their attitudes toward homeownership and their plans to move.

    One popular trend cited frequently in the press is that millennials and other renters have permanently turned away from owning homes after watching their parents’ generation take it on the chin during the housing bust. How else to explain the fact that home buying has remained soft despite the fact that homeownership has rarely been more affordable, given low interest rates and the recent home-price crash.

    But the New York Fed researchers say their survey points to a different conclusion: borrowers want to buy, but they can’t cut it financially. Conservative mortgage lending standards are only likely to exacerbate this problem.

  3. 30 year realtor says:

    In response to my comment yesterday and the comments it resulted in…the market is developing a more “normal” feeling. Normal in that it is becoming more predictable. Pricing is stable and if you price at the appropriate level for what you are trying to sell in the area you are trying to sell it in, there are interested buyers.

    Ex Pat…I am currently buying properties at sheriff sale in 3 Counties for an investment group that I am a part of.

  4. Mike says:

    2 No f*cking sh*t WSJ has nothing to write about where’s Gary?

  5. grim says:

    4 – It’s more subtle than that, the talking points were previously focusing on the trend away from millennial homeownership being a preferential one, they could live in the suburbs, but they choose to live in urban areas. They could afford to buy, but they choose to rent. This was thought to be a major paradigm shift in US homeownership.

    Appears to be the case that this was not correct, and the behavior of millenials is in reaction to the poor economy, which is as would be expected.

    Unfortunately, the proselytizing is sure to continue.

  6. 30 year realtor says:

    also…never bought that 2 family in Bloomfield.

  7. grim says:

    From Bloomberg:

    Trump Entertainment Plans to File for Bankruptcy Again

    Trump Entertainment Resorts Inc., the company founded by Donald Trump, will file for bankruptcy again this week, people with knowledge of the situation said, putting a fifth Atlantic City casino in danger of closing.

    The company owns two properties in the struggling New Jersey resort town. Trump Plaza is set to cease operations on Sept. 16, and the Trump Taj Mahal may also shut in November, the people said. Three other casinos have closed in the city this year, including Caesars Entertainment Corp.’s Showboat and the Revel Casino Hotel last week.

    A Taj Mahal shutdown would put another 2,800 employees out of work in a city already losing 5,200 casino jobs this month. Moody’s Investors Service cut the municipality’s bond rating by two steps on July 23 to Ba1, the highest speculative standing. Governor Chris Christie and other local leaders held a summit yesterday to discuss Atlantic City’s future after an expansion of gambling in neighboring states ate into what was once the only legal market on the East Coast.

    “What happened to Atlantic City, there’s a lot of competition from a lot of other locations,” Trump said in a telephone interview yesterday. “It’s happening all over.”

  8. grim says:

    From the Star Ledger:

    Sports betting at N.J. casinos, racetracks will not be prosecuted, acting AG says

    Continuing a more than four-year battle, the Christie administration today again attempted to clear the way for legalized sports betting at the state’s casinos and horse-racing tracks by telling them they will not be held civilly or criminally liable by state law enforcement agencies.

    Seizing on a loophole in a federal ban on sports betting, acting state Attorney General John Hoffman issued a directive to law enforcement telling them that casinos and racetracks continued to be exempt from prosecution under the 2012 law authorizing such wagering.

    The move was intended to reassure those facilities that they can offer wagering without fear of state reprisal, so long as no betting occurs on college sports or college athletic events in New Jersey, or on any of the state’s college teams, regardless of where they play.

    But it remains to be seen whether any facilities open up their books to wagering before it’s clear the move does not violate a federal ban on sports betting, and before they know whether federal authorities will intervene in the absence of state enforcement.

    “I don’t think any [casinos] are going to be taking any sports bets unless they got some ruling from a federal court that says this is OK – and they won’t,” said I. Nelson Rose, a law professor and expert in gaming law at Whittier Law School in California. “What Christie is telling the casinos to do is to violate federal law, and it’s a criminal law and the normal remedies for criminal law is to be arrested.”

  9. grim says:

    Given the approach they are taking, the big winner will be the Meadowlands racetrack, and not Atlantic City.

  10. The Original NJ ExPat says:

    [5]&[6] – 30y – Thanks for the updates.

  11. grim says:

    The sports book at the meadowlands is going to need a bigger building. Bars, restaurants, etc. They are going to need to close the tunnel to keep NYC out, the crowds will be bigger than for the Jets.

  12. The Original NJ ExPat says:

    We drove through a development in Walpole, MA over the weekend that made me think I was somehow transported to Hunterdon county but with houses on shrunken lots. 4BR, 3500 square foot houses on 1/3 acre cookie cutter lots. Look up “Endean Drive” in Walpole, MA and you’ll see what I mean. These were $650K-$800K houses in 2006 and appear to be zestimated the same today. Interesting to note was that there was very little landscaping done as I guess it’s been an 8 year slog for most folks who bought there. Looks like mostly $10K taxes instead of the $15K you’d pay in Hunterdon county. Very austere feel to the neighborhood but none of the houses looked to be in disrepair.

  13. grim says:

    Chris – now that we’ve established that Federal Law is no longer sacrosanct, how about we sign off on that marijuana decriminalization? Or are we saving that for the primaries? If the numbers are correct, NJ spends near $125 million each year arresting, prosecuting, and incarcerating for marijuana possession. Seems like quite a bit of money that could be saved. And look at the bright side, possession tickets will be a boon to municipal coffers.

  14. jj says:

    Speaking of Jets, the Giants played like a bad Jets Team last night. Ugly and on national TV to boot. They have their home opener in just five days against a good team that had more time to rest up.

    I know starting 0-2 is not end of the world, but for anyone scalping or selling starting 0-2 means they have to win their next three in a row to get a wining record and get ticket prices back up. In such a short season and a sport where December games sell for less due to Weather in New Jersey eating the first five games is bad.

    By the fact the Jets just won their first game, does not seeem like much they cant get a losing record till game three. By game three a season ticket holder has sold the games he cant make it to.

    grim says:

    September 9, 2014 at 8:07 am

    The sports book at the meadowlands is going to need a bigger building. Bars, restaurants, etc. They are going to need to close the tunnel to keep NYC out, the crowds will be bigger than for the Jets.

  15. painhrtz - whatever says:

    Grim MJ decriminalization would save the whole country a ton of dough and slow the slog at our borders, but we can’t because FYTW (f*ck you thats why). Plus fatman would never go for it. It would ruin his perceived conservative bonafides.

    JJ no good line play on either side of the ball all preseason could have predicted that one easily. Giants are in for a tough season, then again my Cowboys are absolute garbage. The NFC east is a train wreck and the division winner could be 8 and 8.

  16. Hurry, bring the checkbook!

    Creampuff!

    Needs me some medical choom.

  17. 50-100 years of wandering in the wilderness. Much wailing and gnashing of teeth.

  18. grim says:

    Christie no longer stands a f*cking chance, he doesn’t have the conservative vote. The best thing he could do is decriminalize, which would likely sway a number of moderates, and would be beneficial towards swaying the independents. All moot, his fiscal record on NJ blows chunks, AC has nearly toppled on his watch.

  19. Libturd in Union says:

    It’s interesting how much the source influences the study. Eh Mad Max?

    http://www.nytimes.com/2013/09/17/us/gas-leaks-in-fracking-less-than-estimated.html

  20. NJCoast says:

    Grim, thoughts on AP?

  21. painhrtz - whatever says:

    Grim totally agree on everything you said, but in his fat addled brain he still thinks he is a front runner.

  22. 30 year realtor says:

    One of the houses that I wrote about having multiple offers on yesterday is located in Clifton. Totally renovated cape on a nice street off Broad on the south end of town. Last June I sold another house on the same street for the same flipper. Same materials used in both homes and both totally renovated. Same style house except the one currently on the market has a slightly more desirable lot, family room addition and a deck. The one sold last June closed at $365,000 after 18 DOM. Current listing on market for $389,900. Offers currently at the price the smaller comp sold for last year.

    I am very curious where the sale price ends up the current listing. This will tell me a great deal about current market conditions in the area.

  23. grim says:

    20 – Positive, it’s been a good 4-5 years since I did anything but drive through. We were in the condos down near the end of the boardwalk, directly across from Ocean Grove. Probably an atypical weekend since the Oysterfest clearly attracted a number of out-of-towners. Cookman is really impressive, and the new development on Lake is looking good as well. I remember putting on bike races on Cookman and Lake 12-14 years ago, we would close the streets on Sunday and it wouldn’t matter, you wouldn’t ever see a car. Back then there was nothing but burnt out shells on Lake at that time, a ghost town. Was over at Lake House Music on Sat, my brother knows the crew there, it was whispered that Lorde was there recording on Friday. Mogo is fantastic, as was Fish and the Cuban place. Franks is the best place in Absury, best Jelly donut I’d ever had. Expected to see a bit more improvement up on the North end, and surprisingly, I didn’t really see it. The condo I was in is owned by a savvy property investor, if he was there, that’s probably the most beneficial sign I’d seen yet. I believe he picked it up for a song when the bubble burst.

    We’d probably be setting up the distillery in Asbury if it wasn’t as far as it is. Tell you, I wish I picked up a lot or two on Lake 15 years ago.

    Call me crazy, but I think Asbury is going to break through and be one of the top destinations on the shore. You can write that down and tell me I’m wrong in 20 years. It’s got the most real character of any town at the shore. It’s got real vibrancy, a real pulse.

  24. Libturd in Union says:

    Montclair Bread does donuts on Sunday only (I think). They too are sinfully delicious. Forget DD and KK. These blow them out of the water. Unfortunately, they are like $3 a donut.

  25. jj says:

    Near me Long Beach has 2,000 square foot houses on 30x 60 houses. One guy had a 24 by 52 foot house just built three stories tall!!

    The Original NJ ExPat says:

    September 9, 2014 at 8:18 am

    We drove through a development in Walpole, MA over the weekend that made me think I was somehow transported to Hunterdon county but with houses on shrunken lots. 4BR, 3500 square foot houses on 1/3 acre cookie cutter lots. Look up “Endean Drive” in Walpole, MA and you’ll see what I mean. These were $650K-$800K houses in 2006 and appear to be zestimated the same today. Interesting to note was that there was very little landscaping done as I guess it’s been an 8 year slog for most folks who bought there. Looks like mostly $10K taxes instead of the $15K you’d pay in Hunterdon county. Very austere feel to the neighborhood but none of the houses looked to be in disrepair.

  26. grim says:

    By the way, I think we all had the respiratory virus that’s been going through the midwest. Absolutely miserable for the past week, endless coughing, wheezing, lethargy, just miserable. My chest still feels like I was run over by a car.

  27. jj says:

    I also saw a 5,200 square foot house a few weeks ago in an open house on a 80×120 lots. WOW. House orginally sat on an acre or two when built in 1908. When they went to 60×100 they cut up land. Weird as house was orginally 110 feet from street with a 120 wide fron yard. Somewhere in 1960s owner sold his front lawn as it became 60×100 zoning and they build to 60×100 houses on front lawn. Front of house now had became a side entrance with ten foot to a fence. It was a really cool house.

  28. grim says:

    Trump files for bankrupcy

  29. Libturd in Union says:

    Trump files for bankruptcy. How many times is this?

    Taj Majal was cash positive before the Plaza closed. Now that many of his customers from the Plaza will move to the Taj, it is extremely unlikely that it will close. This is simply a move to get better terms for debt repayment. Trump is a bankruptcy whore. Always was, always will be.

  30. Toxic Crayons says:

    Grim, would you please unmoderate my comment?

  31. Toxic Crayons says:

    Anyway, if my comment disappeared, I was trying to make the point that all Christie’s presidential primary opponents need to do is remind everyone of Christie’s 1995 run for the assembly and show them these two flyers:

    http://www.politickernj.com/wallye/22065/christie-guns

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

    [31] toxic

    Thing that struck me on the second flyer was that it was patently false. Not that this would occur to a muppet.

    I think we are in an era where both sides will accuse the other of evermore things that are false and it won’t matter: The populace is dumber than it has been in an age; the media is largely perceived as biased; and we have the internet. The garbage I come across on both sides of the spectrum is unbelievable.

    It’s a perfect storm, and with the fourth estate emasculated (or discredited, depending on your view), the mudslinging is going to be vile. I will wager money that in at least one race for Congress, and multiple races at the state level, the opponents will publicly challenge each other to fistfights over it, and we will get to see at least one on television.

  33. Toxic Crayons says:

    32 – He was running against Michael Patrick Carroll. If I’m not mistaken, Mr. Carroll has some pretty epic speeches on youtube in the state legislature.

  34. Libturd in Union says:

    I like the rights manufactured claim that Hilary is terminally ill. Which really isn’t that different than the lefts claim that McCain would have never been alive by the end of his potential term.

    Baa, Baa.

    Do what I do, vote for none of the above.

  35. painhrtz - whatever says:

    i thought he didn’t own that dump anymore

  36. Libturd in Union says:

    He doesn’t, but I was pretty sure that as long as the Trump Plaza was open and had his name on the facade, they were paying him a princely sum for the use of his name. Hence, his attempt to sue them upon the announcement that they were closing, to stop using his name.

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

    Christie hails latest urban renewal initiative for Camden . . .

    http://www.huffingtonpost.com/2014/09/08/philadelphia-marijuana-decriminalization_n_5786848.html

  38. jj says:

    I am buying Trump Plaza and changing name to Dump Plaza and loading it up with Section 8 tenants. Casino will be open one day a month on Welfare Check day

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

    California plans to implement a “precrime enforcement” law. Right out of Minority Report.

    http://live.huffingtonpost.com/r/highlight/california-mulls-bill-to-remove-guns-from-potential-offenders/53ff414bfe3444e4d9000042?cn=tbla

  40. grim says:

    Most of the northeast has decriminalized.

  41. NJT says:

    # 26 (grim)

    “By the way, I think we all had the respiratory virus that’s been going through the midwest. Absolutely miserable for the past week, endless coughing, wheezing, lethargy, just miserable. My chest still feels like I was run over by a car.”.

    Started feeling it on Saturday. Peaked Yesterday. Still feeling ‘down’ but less so every hour.

    No surprise I got it as 1/3 of the people in the office where I work travel all over, constantly.

    Re: Christie. Here’s a book one of my cousins wrote about chubby:

    http://www.ruthlessambitionthebook.com/ruthless-ambition-forward/

    I bumped into (literally) the big boy once at a state sponsored buffet several years ago.

    Dude was right in front of me and taking his time (I hate buffet lines for that reason – Just get your stuff and go!) until, it came to the sausage tray. He actually LIFTED one side of it to help scrape more onto his plate quicker! I asked (jokingly) “are you going to leave some for me?”. The look he gave me! WHOA.

    I don’t hate the fat man. Just another NJ politician AFAIC. At least he’s not from Hudson County.

    I remember him when he a freeloader (oops, Freudian slip) back in Morris County….guess he remembered me, too.

  42. NJT says:

    grim – unmod #40. NOTHING in to warrant censoring.

  43. Ragnar says:

    Libturd,
    Palin would have rode McCain 5 times a day till he died 1 year into his first term. He’s distinctively less sharp these days when I hear him.

    ChrisKrispy probably just needs to run up his political exposure to maximize his post-governor gig. Running for pres makes people seem more important than they are, even when they lose. Plus makes plenty of connections to use when pull-peddling later.

  44. Ragnar says:

    If Rand Paul would throw the evangelicals off his bus, and be the drug legalizing, less-world-bulding, throw the government out of Washington Republican, he might have a chance of accomplishing something, like redefining what “the center” means, besides squishy complacency with the status quo.

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

    [44] ragnar,

    Im not sure the evangelicals are on Paul’s bus. They may like him but he hasn’t done much for them.

    On that note, salt mines beckon. . .

  46. chicagofinance says:

    They are going to eminent domain around the train station and make it a transit village concept….helps the public works/cops are next to train….

    grim says:

    September 9, 2014 at 9:38 am

    20 – Positive, it’s been a good 4-5 years since I did anything but drive through. We were in the condos down near the end of the boardwalk, directly across from Ocean Grove. Probably an atypical weekend since the Oysterfest clearly attracted a number of out-of-towners. Cookman is really impressive, and the new development on Lake is looking good as well. I remember putting on bike races on Cookman and Lake 12-14 years ago, we would close the streets on Sunday and it wouldn’t matter, you wouldn’t ever see a car. Back then there was nothing but burnt out shells on Lake at that time, a ghost town. Was over at Lake House Music on Sat, my brother knows the crew there, it was whispered that Lorde was there recording on Friday. Mogo is fantastic, as was Fish and the Cuban place. Franks is the best place in Absury, best Jelly donut I’d ever had. Expected to see a bit more improvement up on the North end, and surprisingly, I didn’t really see it. The condo I was in is owned by a savvy property investor, if he was there, that’s probably the most beneficial sign I’d seen yet. I believe he picked it up for a song when the bubble burst.

    We’d probably be setting up the distillery in Asbury if it wasn’t as far as it is. Tell you, I wish I picked up a lot or two on Lake 15 years ago.

    Call me crazy, but I think Asbury is going to break through and be one of the top destinations on the shore. You can write that down and tell me I’m wrong in 20 years. It’s got the most real character of any town at the shore. It’s got real vibrancy, a real pulse.

  47. 1987 Condo says:

    Asbury….heard renaissance talk in mid 1980’s…..still really waiting…same story, 1 hour from NYC….great beach, boardwalk, clubs, hard to believe it still not there. Some mega billionaire should buy out the town and make it a resort….

  48. NJGator says:

    Let’s see what comes first – the AP renaissance or the train from the Poconos to NY.

  49. Libturd in Union says:

    If you went to AP in the 90s. The renaissance has occurred already.

  50. Libturd in Union says:

    When I was in high school, we used to go to the North End beach in AP since it was free and empty. AP was a scary place then, but the beach, not so much. Free parking too. Haven’t been to that beach in almost 30 years.

  51. Juice Box says:

    Selfies Rule! Got demand for single family homes?

    Single Americans Now Compose More Than Half the U.S. Population

    Singles, particularly younger ones, are more likely to rent than to own their dwellings. Never-married young singles are less likely to have children and previously married older ones, many of whom have adult children, are unlikely to have young kids, Yardeni wrote. That will influence how much money they spend and what they buy.

    http://www.bloomberg.com/news/2014-09-09/single-americans-now-comprise-more-than-half-the-u-s-population.html

  52. nwnj says:

    Someone commented at the end of the thread yesterday about “Why anyone would live in the South and not carry is beyond me” better realize you’re no better than a sitting duck when you step out in public in NJ.

    From 2012:

    The mob of teens who attacked and robbed five people who eaving a sold-out Prudential Center concert Saturday night were “laughing” during the brutal assaults, and may have set out to injure people rather than rob them, Newark police officials said this morning.
    http://www.nj.com/news/index.ssf/2012/05/newark_police_teens_laughed_as.html

    You’d be out of your mind to go to that arena with anything other than a group of grown men.

  53. grim says:

    Rumor has it the new Trump bankruptcy is an attempt to halt legal proceedings from the actual Trump to force the casino to strip his name. Suspect the Donald might actually win this one. It would probably cost tens of millions to rebrand that hotel.

  54. Libturd in Union says:

    Were the young animals in Newark singing “Knock Me Down” or “Give It Away” while they were beating up the Chili Pepper fans?

  55. WickedOrange says:

    RE: 51

    north beach has a fight on its hands.

    http://saveasburypark.surfrider.org/

    because let’s develop the last open stretch of beach in monmouth county…

  56. grim says:

    I thought Cookman Ave was brilliant, on par with some of the nicer downtowns in North Jersey. It’s got a very Morristown/Montclair vibe to it. It’s got cooler stores than anything in Morristown or Montclair, for sure. Felt safer on Cookman than anywhere in Brooklyn. The bar at Fish was pretty swank, and Brickwall is just like being in Montclair. Hell, it’s even got the same “Toast” as Montclair does. The new places on the boardwalk were very nice as well, Cubacon and the other restaurants are pretty chic. The new biergarten looks amazing, they are pumping in lots of dough, nicer than anything in Jersey City, I’d be afraid to ask what they spent (a few million, easy). There were plenty of Ferarris, Maseratis, and haughty German cars parked on the main drag. Some pretty swank apartments above Cookman as well, once it got dark enough to snoop (hardly snooping), plenty of well decorated pads looking to show off (big windows, open curtains etc).

    I’ll say my opinion was changed, wildly, we might find ourselves heading down to Asbury for dinner once in a while. Look, it ain’t Millburn, it’s not trying to be, and neither is the village. Kudos to everyone invested down there. My wife walked back from Cookman alone at night, I don’t know that I would like her being on the South end of Bloomfield Ave at night.

  57. Ragnar says:

    Comrade,
    Rand Paul still says that he’s “pro life” and that $perm+egg=person.

  58. jj says:

    Just keep the god damm ugly people off the freekin Kiss Cam!!!

  59. Ragnar says:

    Biergartens are cool, and I don’t even like beer. Looks like it will open, somehow negotiating past a $400,000 sewer hookup holdup the town sprung on it this spring.
    If they serve a good Bavarian Schweinshaxe, then I’d be in favor of this place serving as base for a NJReport GTG.

  60. grim says:

    Wife was out early on Thursday night and they ate at Moonstruck, they enjoyed it, said it was a very nice place. Would have liked to stop at Pascal and Sabine, looked very cool, from what I saw of the bar area, it was very sharp.

  61. grim says:

    Wait, holy shit, that’s owned by Ladi? He used to be a regular here. Well done dude, give me a call.

  62. painhrtz - whatever says:

    Rag only telling half the story though he also believes that it is a state issue and that his beliefs have no bearing on governments involvement. for the record I’m an atheist libertarian with Two biology degrees who does not believe in abortion. Since I don’t own the equipment nor feel I have the right to enforce my beliefs on others I stay the F out of it. As it should be, but I’m more along the lines of once you passed 3 months your a douche for not getting it done earlier unless the health of the mother is at stake. Just a collection of cells with at heartbeat at 12 weeks.

    That schweinhaxen had better be as good if not exceeding my mother in laws. this is GTG I could get behind

  63. NJT says:

    ‘Train to the Poconos’. LOL! I remember (just after 80 was built) TPTB talked about a monorail up the center of that interstate.

    Just having moved us to rural (back then) Morris County my dad was ready to move us again. Forty years later (no trains still) I moved my family.

    Currently the line extends to Hackettstown despite all the talk back in the 90s about reactivating the Paulinskill cutoff and running trains over the big D.

    Did the NYC/Manhattan commute for seven years back in the 90s (Dover or Denville station). Not worth it, to me.

    Sometimes the drive was OK and parking reasonable but NEVER on Fridays.

    Turned down a job at Goldman back in ’06. Wish I hadn’t when I found out the bonus’ given in ’09. DAMN! I was figuring it would just about cover the tax, commuting fees and lifestyle cramp. Who knew.

  64. Toxic Crayons says:

    64 – They are extending the line to Andover. Work is underway…..very slowly and around some sort of bat habitat issues but, it’s been underway. I see them slowly clearing brush and hacking back decades of growth, along with new track. I read somewhere they’re working on a tunnel that has been flooding.

    http://www.njtransit.com/tm/tm_servlet.srv?hdnPageAction=CapProjectDetailsTo&CapitalProjectId=82

  65. Juice Box says:

    Those Czech guys have been busy.

    http://www.bohemianhall.com

    http://radegasthall.com/

    and Pilsener Haus in Hoboken.

  66. grim says:

    He is part of Pilsnerhaus too

  67. grim says:

    Paulinskill Viaduct is a pretty neat thing to see.

  68. Juice Box says:

    NJ transit sucks all around so why do we even care about more stations?

    HACKETTSTOWN to HOBOKEN on the earliest train at 6:40 AM is nearly a two hour train ride, twice as long as driving.

  69. painhrtz - whatever says:

    Juice and that is why I turned down a job in the city, from dover which is a few miles from my house to Penn was long enough. then having to get to the west side. No f*cking way

  70. Ragnar says:

    This is an outrage for a “biergarten” entrée – from the Williamsburg, Brooklyn menu:
    “Spring Vegetable Buckwheat Spatzle”
    Ordered by some hippie while another hippie named “Koran Again” plays jazz.

    More roasted meat and beer, fewer hipsters please.

  71. Juice Box says:

    re: “fewer hipsters please.”

    from die hipster.

    “Today, on the opening Sunday of the NFL season, I walked by an overpriced gentrification “craft ale” bar in Bushpointburg full of kazoo-voiced, baguette-bodied, Ohio transplanted hipster fckkking beardos cheering as all TV’s were only showing Browns and Bengals games. So I stole a wrecking ball that was about to knock down an affordable building for normal Brooklyn families to build more condos and passed the ball through the bar – splattering interloper brains everywhere. End of story. “

  72. painhrtz - whatever says:

    Rag that is a cry for help, buckwheat spetzle uggh.

    Checked out Pilsner Haus website Polka Floyd has me intrigued

  73. painhrtz - whatever says:

    vigoda > Bob Suter Miracle on Ice defenseman

  74. Libturd walking home from gas station says:

    Today is a very dark day. As I was pulling off the Garden State Parkway at exit 151 a huge cloud of white smoke was a emitting out of the tailpipe of old reliable. It was a race against overheating to get to the gas station. There was extra drama when utility work made me stop for a good five minutes. My car resembled a barbecue. Lo and behold as the needle on the engine thermometer approached high, I pulled into the parking lot of my trusty mechanic who said chances are it’s that gasket I told you to have fixed six months ago. That shouldn’t be too bad. The autopsy will be performed tomorrow morning.

  75. Happy Renter says:

    (63) That comment yesterday about why on earth anyone living in the South wouldn’t carry – that was my comment …

    To clarify the point I was trying to make, in the South at least one CAN carry (so why on earth wouldn’t you); I fully recognize that I am in just as much danger here in NJ and that I CANNOT carry.

    Amazing that they can’t even keep the Prudential Center safe from the young thugs of Newark …

  76. grim says:

    Just one more peanut gallery comment about redevelopment, from Rags $400k sewer hookup fee comment above.

    I don’t know what the resolution is, but that’s exactly the kind of thing that is killing small business startup in NJ.

    Here you have someone investing considerable money into an incredibly risky venture in a questionable location, absolutely in the betterment of the town. Not only adding jobs, but eliminating an eyesore, creating an attraction for visitors to come and spend money in town.

    You would think towns would bend over backwards to help businesses like these startups, especially in these areas.

    Hell no, that ain’t how it works in Jersey. Bend over.

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  78. Juice Box says:

    Grim – a 732 seat restaurant should pay something no? Sewers don’t grow trees. The city has ancient sewer system that dates back to 1892.

    Apparently it turns out they paid nothing, over the table anyway. Magically a new sewer connection wasn’t needed.

    http://asburyparksun.com/prost-beer-garden-sewer-connection-fee-lifted/

  79. Juice Box says:

    Grim – Down here Monmouth County we get a separate sewer bill.

    As far as incentives to open a business Asbury seems to be doing what it can.

    http://www.asburyparkchamber.com/business.asp

    “The Asbury Park Urban Enterprise Zone Program (APUEZ) offers participating businesses an advantage by providing incentives that encourage growth while stimulating the local economy”

    Free sewage treatment is not one of those incentives.

  80. Grim says:

    Free? How do you figure? As a business they would be paying substantially more in sewerage taxes to the local governments each quarter. In addition, they’ll pay substantially more in property taxes than the previous building did, if they paid anything at all.

    Why should a new business bear the burden of the shit of the entire resident population? Perhaps the resident population should bear the cost of a special assessment to rebuild their infrastructure?

    Or perhaps private industry should just abandon Asbury, and send assessments to hell, what then will te residents do, when there is no income to pay for any infrastructure at all?

  81. Grim says:

    What about the fact that the population is more than 1500 residents less than in the 1950s, and substantially fewer businesses and employees? Are we to believe there isn’t sufficient capacity? I’ve read that in the early 1900s the summer population of Asbury was near 200,000, nearly 20 times greater than today.

    No worries, the backs of new business are more than strong enough to support this.

  82. NJT says:

    Um, Oxford NJ (Warren county) is open to investment. No, I don’t live there but…

  83. Juice Box says:

    Grim free hookup? They got it! Yay….

  84. Juice Box says:

    Grim – How a out the backs of the free foot falls on the boardwalk to support a 732 seat bar resturant? That is bigger than any place in Manhatan! Try that in Vegas or Times Square, 320 thousand is pittance got a sewer connection.

  85. Meet the new boss. Same as the old boss.

    Vote with a bullet.

  86. NJCoast says:

    Glad you enjoyed your stay in AP. Yes Lorde was rehearsing all last week in the Paramount Theatre. I was at Fish Friday night, if you saw a pink Vespa tooling around it was me.

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