February Pending Home Sales Beat

From CNBC:

Pending home sales rose 3.1% in February

Colder than average temperatures and heavy snow in much of the U.S. failed to keep February home buyers away. Signed contracts to buy existing homes rose 3.1 percent from January, according to the National Association of Realtors (NAR).

The Realtors’ so-called “Pending Home Sales Index” is 12 percent higher than one year ago, and is at its highest level since June, 2013.

The gains were primarily driven by sales in the West and Midwest. Pending sales jumped 11.6 percent month-to-month in the Midwest and are now 13.8 percent higher than a year ago. Sales in the Northeast fell 2.3 percent but are 4.1 percent above a year ago. Sales in the South decreased 1.4 percent sequentially, but are 10.8 percent above last February. Sales in the West climbed 6.6 percent and are now 18.3 percent above a year ago.

“Pending sales showed solid gains last month, driven by a steadily-improving labor market, mortgage rates hovering around 4 percent and the likelihood of more renters looking to hedge against increasing rents,” said Lawrence Yun, chief economist for the NAR. “These factors bode well for the prospect of an uptick in sales in coming months. However, the underlying obstacle—especially for first-time buyers—continues to be the depressed level of homes available for sale.”

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83 Responses to February Pending Home Sales Beat

  1. anon (the good one) says:

    @davidjoachim:
    Analysis of Reagan’s speech patterns shows onset of dementia years before diagnosis in ’94

    WASHINGTON — Even before Ronald Reagan became the oldest elected president, his mental state was a political issue. His adversaries often suggested his penchant for contradictory statements, forgetting names and seeming absent-mindedness could be linked to dementia.

    In 1980, Mr. Reagan told me that he would resign the presidency if White House doctors found him mentally unfit. Years later, those doctors and key aides told me they had not detected any changes in his mental abilities while in office.

    Now a clever new analysis has found that during his two terms in office, subtle changes in Mr. Reagan’s speaking patterns linked to the onset of dementia were apparent years before doctors diagnosed his Alzheimer’s disease in 1994.”

  2. Toxic Crayons says:

    2 – and despite his handicaps, he was still a better president than the last two we’ve had.

  3. JJ says:

    Best Part of Obama is he soon will be gone

  4. JJ says:

    http://nj1015.com/flood-insurance-costs-spiking-in-nj/

    April 1, 2015 Rates shoot up. So much for Spring Buying season in parts of NJ. Sellers and Realtors often sold houses in Flood zones and just quoted the lower current rate, not the potential hike.

    Well policies starting now will give the full rate to buyer. So Seller and Realtor cant hide it.

  5. Fast Eddie says:

    Analysis of Reagan’s speech patterns shows onset of dementia years before diagnosis in ’94

    Reagan loved America, unlike the d0uchebag you support. You know, the one who is an ally to Iran and enemy to Israel.

  6. jcer says:

    Not to hard to be a better pres than Obozo or Bush. We are coming up on 16 years of morally bankrupt leadership, neither of the morons care one iota for America or Americans, corporatist stooges owned lock stock and barrel.

  7. JJ says:

    http://newyork.cbslocal.com/2015/03/28/jets-flight-crew-searches-for-a-few-good-cheerleaders/

    How come the Jets get away with only hiring, young, nice and pretty females yet we cant put that in our ads for jobs?

  8. Comrade Nom Deplume, who needs to stop screwing around and get back to work says:

    [8] JJ

    Hire them as models, then ask them to do some other things around the office in their spare time.

    [Kidding–totally would not fly. Look what happened to flight attendants. They used to be honeys but now we have to endure surly old women and gay men because they weren’t really hired to look good]

  9. Comrade Nom Deplume, who needs to stop screwing around and get back to work says:

    With respect to presidents, I firmly believe that in a democracy, the electorate gets the government they elect and deserve.

    Which is why I am really starting to agree with clot. We are all well and truly fuct.

  10. Anon E. Moose says:

    There’s a term for psychologists who analyze people they’ve never even met: Malpractice Defendants.

    Not to mention political hacks.

  11. Anon E. Moose says:

    Democracy is the theory that the common people know what they want, and deserve to get it good and hard. –H. L. Mencken

  12. Comrade Nom Deplume, who needs to stop screwing around and get back to work says:

    [11] moose,

    New rules from the Ministry of Love: It’s only junk science if it doesn’t support your agenda.

  13. FKA 2010 Buyer says:

    [2] Anon

    Didn’t President Reagan disappear the last two years in office and the Mrs had to cover for him a few times. Between dementia and the Iran Contra scandal, the Savings and Loan convictions, and his ridiculous drug laws, I don’t know why he was considered to be such a great president.

  14. FKA 2010 Buyer says:

    Buy now or forever be priced out the market…..

    Priced out: New housing froth discourages buyers

    After easing throughout much of 2014, home prices across the U.S. are accelerating again.

    While several local housing markets are still nowhere near as expensive as they were during the housing boom, others are approaching so-called “froth” yet again. Prices in the nation’s top 20 housing markets were 4.6 percent higher in January than in January 2014, according to the latest reading from S&P/Case Shiller. That is a bigger annual gain than the markets saw in December, when price gains began to accelerate again.

    “The combination of low interest rates and strong consumer confidence based on solid job growth, cheap oil and low inflation continue to support further increases in home prices,” said David Blitzer, managing director and chairman of the Index Committee for S&P Dow Jones Indices. “Despite price gains, the housing market faces some difficulties. Home prices are rising roughly twice as fast as wages, putting pressure on potential home buyers and heightening the risk that any uptick in interest rates could be a major setback.”

    http://www.cnbc.com/id/102549320

  15. Toxic Crayons says:

    Anyone with kids watching what is happening in the middle east? Should we expect WWIII by the time they are eligible for the draft?

  16. FKA 2010 Buyer says:

    Today’s Privileged News: It’s good to know people that can put money in your pocket despite your background.

    Camden housing developer tapped despite debt to N.J.

    CAMDEN — State tax incentives to boost New Jersey’s poorest city are being heralded as a major piece of a turnaround plan after decades of economic despair, corruption and crime. But after a string of revitalization efforts with dubious results, Camden is staking part of its future on a company that failed to deliver on past promises.

    Roizman Development, Inc., a Pennsylvania firm headed by a big-time political donor, is receiving millions from two New Jersey agencies to renovate low-income housing it has owned for decades despite owing more than $6 million on a previous unpaid state government loan. The firm also backed out of a pledge to sell other homes he owns in Camden to tenants for $1.

    The company’s latest project comes with a hefty price tag: The deal, mostly funded by government loans or subsidies, works out to $324,000 per home, four times the cost of a typical one for sale in Camden.

    http://www.courierpostonline.com/story/news/local/south-jersey/2015/03/22/camden-housing-developer-tapped-despite-debt-nj/25184337/

  17. anon (the good one) says:

    too many lawyers, not enough doctors

    agreed, we are truly fuct

    @CNBC: Pilot who suffered midair breakdown sues JetBlue for $14 million … for allowing him to fly

  18. JJ says:

    https://www.airbnb.com/rooms/337481

    Home in NJ with the highest $ value of bookings on AIRBNB in 2014

  19. Juice Box says:

    re # 16 – If we give both sides enough heavy weapons it could sort it self out before your kids are eligible.

  20. Not Toxic Crayons says:

    TC about your post #16 , you don’t have to worry about them fighting in the ME. Just stay away for the ME.

    This is where stand at now. You can actually set up a map and it looks great. Multiple parties total. Death match galore ending in Big Nukes going off with 20% of the population.

    Party 1 – Sunny Muslims backed by Gulf countries princes and priestly class. Names like ISIS, Al-Queda,etc. They are try to build a world ruling theocratic caliphate.

    Party 2 – Shite Muslims backed by Iran. They are trying to rebuild the old Persian Empire to the point of being the top power in the ME, and greater if need be. With the far right of these crowd believing in an all out fight where “Messiah” appears.

    Party 3 – Religious lites. Like Turkey, whose leader thinks the Ottoman Empire needs to be rebuilt by him.

    Party 4 – Survivalist. Like Syria that would do anything with anyone as long as they survives. Here also Israel, which has the King Solomon policy, which means if they are going to be erased off the map, they are taking the neighborhood with them; they can go extremis because a sizeable chunk of their leadership also believes on an all out fight to make the “Messiah” come.

    Party 5 – Saudi Arabia. Fearing Iran, they are paying big money to Pakistan, to ensure that Pakistan will create/give to them a turn key nuclear program. A sizeable chunk of their leadership is in Party 1 list.

    Party 6 – Europe, China, Asia. – The “can we just get along / don’t care if you are a bunch of ret8rd camel hump3rs / just sell of the dead dinosaur liquid goo” crowd.

    Party 7 – US – World policemen, that needs a vacation, after being put thru the ringer by a bunch of neocons.

    Party 8 – Putin Russia – That will do the exact opposite of the USA.

  21. Not Toxic Crayons says:

    Correction to #5, add also Egypt, which Saudia Arabia is giving big $$ to go with them. Saudia Arabia is the money man, Egypt the brawn, and there are no brains here.

    Just like it took 300 yrs of war in Europe for the catholics/protestants to learn to tolerate each other. It will take much less time, but much more blood, sweat, and tears for the ME.

  22. Anon E. Moose says:

    FKA [14];

    I don’t know why he was considered to be such a great president.

    As a famous Democratic attack dog once said, “It’s the economy, stupid!”

    http://news.investors.com/ibd-editorials/101612-629544-michelle-obama-wrong-on-huge-recovery-.htm

  23. Anon E. Moose says:

    Con’t [23];

    Who you gonna believe, the Barrya$$ lip-gloss brigade or your own lying wallet?

  24. Libturd in Union says:

    “It’s the economy, stupid!”

    Completely ignoring all of the party cokc sucking sheep, when was the last time the economy didn’t turn either up and the incumbent party was elected, or down and the other party took over the white house?

    Anyone? Bueller?

  25. Libturd in Union says:

    Outside of Gore who was forced to distance himself from Clinton due to Bill’s improper use of cigars and proclivity for chunky interns, I can’t think of a single president or issue that determined an election besides the economy. I thought this out all the way back to WWII. Nothing changes the white house party besides the economy.

    Baa. Prove me wrong.

  26. The Great Pumpkin says:

    What a joke!!! But the government worker’s pension is why your taxes are so high says Mr. ignorant. Blame the low level workers for everything, it’s an easy scapegoat.

    And I get my balls busted on here for my grandma giving me a small discount.

    FKA 2010 Buyer says:
    March 31, 2015 at 11:54 am
    Today’s Privileged News: It’s good to know people that can put money in your pocket despite your background.

    Camden housing developer tapped despite debt to N.J.

    CAMDEN — State tax incentives to boost New Jersey’s poorest city are being heralded as a major piece of a turnaround plan after decades of economic despair, corruption and crime. But after a string of revitalization efforts with dubious results, Camden is staking part of its future on a company that failed to deliver on past promises.

    Roizman Development, Inc., a Pennsylvania firm headed by a big-time political donor, is receiving millions from two New Jersey agencies to renovate low-income housing it has owned for decades despite owing more than $6 million on a previous unpaid state government loan. The firm also backed out of a pledge to sell other homes he owns in Camden to tenants for $1.

    The company’s latest project comes with a hefty price tag: The deal, mostly funded by government loans or subsidies, works out to $324,000 per home, four times the cost of a typical one for sale in Camden.

    http://www.courierpostonline.com/story/news/local/south-jersey/2015/03/22/camden-housing-developer-tapped-despite-debt-nj/25184337/

  27. Anon E. Moose says:

    Lib [26];

    What the he11 was so great about the economy in 2012?

  28. Comrade Nom Deplume, who needs to stop screwing around and get back to work says:

    [18] irrelevant

    “too many lawyers, not enough doctors”

    The former won’t be cured as long as you and your ilk hold any power. The latter is on Obama’s short list to cure. Of course, part of the cure involves importing a fcukload of foreign-trained “doctors” from countries notorious for falsified credentials.

    I recently had an attending who was trained in Kazahkstan. Her english was very good and she seemed quite intelligent but I found that I was the one doing the diagnosing and prescribing, and all she did was take notes. Hope she learned something.

  29. The Great Pumpkin says:

    27- Guy isn’t even from Jersey. He is from PA. Gotta love a political donor from PA making off with our tax dollars. Sickening. Let’s continue to blame low level govt workers and throw it on their backs. It’s all their fault.

  30. Anon E. Moose says:

    Pumpkin [27];

    I’m not saying that you’re wrong, but you’re wrong. Its the fatal flaw of class-envy based politics of the left.

    The problem is volume. One or a dozen crooked glad-hand no-bid contracts at a couple of million each is still cheaper than thousands of inflated pensions.

    That’s why everyone looks at that and says “If only I had that $6 MM in my pocket.” But if you were to spread that six million around to everyone, enjoy your happy meal.

  31. FKA 2010 Buyer says:

    [23] Anon

    Fair point…just like in performance reviews, it’s all in the eyes of the beholder. If the stock market performance, US auto industry, deficit reduction, getting Bin Laden were what you valued, then it would be different.

  32. Comrade Nom Deplume, who needs to stop screwing around and get back to work says:

    [26] libturd,

    The last five changes in party occurred when the economy was in a downturn during an election year. This dynamic is so ingrained, you can predict when top shelf candidates will come out of the woodwork to run.

    Interestingly, the economy has to be in true downturn; It was anemic but improving slightly when Reagan ran for re-election and also when Obama won re-election. It was improving when Clinton and Bush won reelection. So the determining factor seems to be recession–in 1980, 1992, 2000 and 2008, there were recessions and the WH flipped parties.

  33. Comrade Nom Deplume, who needs to stop screwing around and get back to work says:

    [30] punkin,

    “Gotta love a political donor from PA making off with our tax dollars.”

    Oh, I do.

  34. FKA 2010 Buyer says:

    Guess it’s just dumb luck. The economic measures are all over the place.

    Timing is everything

    Since the second world war the economy has done better under Democratic presidents, who have overseen more job creation and higher stockmarket returns than Republican leaders. During this time the economy has grown about 1.8 percentage points faster when a Democrat occupies the White House (see chart). Messrs Clinton and Obama credit their economic policies. But new research suggests it has more to do with luck.

    http://www.economist.com/news/united-states/21611143-why-economy-has-grown-faster-under-democratic-presidents-timing-everything

    http://www.princeton.edu/~mwatson/papers/Presidents_Blinder_Watson_July2014.pdf

  35. Libturd in Union says:

    What the he11 was so great about the economy in 2012?

    Come one now. Don’t let your political blinders get in the way.

    https://www.google.com/finance?chdnp=1&chdd=1&chds=1&chdv=1&chvs=maximized&chdeh=0&chfdeh=0&chdet=1351886400000&chddm=387872&chls=IntervalBasedLine&q=INDEXDJX:.DJI&ntsp=0&ei=6OEaVenUEIuGqwHH2oCQBg

  36. Libturd in Union says:

    And Nom,

    I firmly believe the president nor congress nor the senate has absolutely anything to do with the ebb and flow of the economy. The Reserve can mess with it in the short term, but the longer term results of their meddling are most likely negative.

    Though I would agree that no amount of politicking or charisma can overcome the power that a recession has in turning everyone except for staunch sheep, from Prius driving, tree hugging atheists into Hummer owning, rain forest destroying, gun toting Catholics. It really is quite pathetic.

  37. Libturd in Union says:

    Hey Chifi,

    Can you think of any good reason why 42-year old Gator should not role her measly defined pension benefit (which was frozen and closed like 8 years ago) into an IRA with the rest of her 401K money we already rolled over? Especially considering that she used to work for a magazine publisher. It’s hardly a forward looking industry (PGBC is definitely a possibility here). I think the growth rate of the pension is projected slightly higher than that of the current 30-year treasury. We are talking about a 25K lump sum. Unfortunately, she did not teach kindergartners or drive a lawnmower for the local government.

  38. Anon E. Moose says:

    Lib [36];

    How about 8% (headline, admitted) unemployment; after promising $1B in stimulus would bring it below 6%?

    The graph that keeps on giving…

  39. NJGator says:

    @Chifi re 39 – If I don’t opt for the rollover and wait until 65 to collect, the monthly payout would be a grand $540/month.

  40. Libturd in Union says:

    Moose,

    I don’t pay much credence to those oft-manipulated numbers and certainly not empty promises of unstimulating Porkulous. We all know that the stimulus was a thank you to all of those lobbyists and campaign contributors who gave to the blue team while the red team was in the White House for 12 years.

  41. Libturd in Union says:

    Hey Gates,

    How many years were you in the pension before it closed?

  42. NJGator says:

    Oops. Owners of perennial Montklair favorite Raymond’s found by the DOL to have cheated their employees. Let’s see if progressive values and support of the common man trump the need for weekend brunching on Church Street.

    Raymond’s in Ridgewood and Montclair must pay over $300,000 in back wages to its workers after an investigation by the U.S. Department of Labor’s Northern New Jersey Wage and Hour District Office found the restaurants didn’t pay their staff for overtime or pay tipped employees the correct wage.

    Eighty-four employees of Raymond’s in Ridgewood must receive $100,048, while 76 employees at Raymond’s in Montclair are due $225,486, NorthJersey.com reported.

    http://patch.com/new-jersey/montclair/montclair-raymonds-restaurant-ordered-pay-300k-back-wages-workers-0

  43. Toxic Crayons says:

    35 – Who held the majority in congress during those time periods?

  44. Theo says:

    #41 My firm’s handy dandy lump-sum calculator says a 42 year old with a $540 benefit at age 65 would be eligible for a $28K+ lump-sum. Of course our plan is “fully funded”.

  45. NJGator says:

    43 – Plan participant for 10 years before they froze it. Worked there almost another 6 years after.

    Of course based on the year they froze it, my first maternity leave year is part of my benefit calculations…and none of the disability or paid vacation in my leave was counted.

  46. FKA 2010 Buyer says:

    Nothing like incentives

    PhillyDeals: Business moves to N.J. outpace vacancies

    So many companies are getting money from New Jersey to move into Camden, real estate people are starting to run out of move-in-ready places to stick them.

    And neighboring Pennsauken’s industrial districts are filling up too, says broker Ian Richman.
    It’s not just the many millions the state pledged to lure Cooper Health, Holtec International, and the 76ers to move to the postindustrial city from a few miles away.

    It’s also grants to smaller companies, like Berry & Homer, which makes those fabric ads companies put on vehicles or buildings.

    http://www.philly.com/philly/business/20150331_PhillyDeals__Business_moves_to_N_J__outpace_vacancies.html

  47. Walking Bye says:

    @29 I think a continuation from yesterdays topic of high malpractice. If you are going to squeeze doc’s with high malpractice costs while limiting re-imbursement to 2 times Medicare you are going to find the good guys tossing in the towel and moving off to capped states where insurance is less or signing on for a new lucrative career in finance . So you end up with your friend from Kazakhstan which is the only person willing to work 60 hours for peanuts . The flip side is for the doc to go out of network and charge $5000 for a $250 procedure.

  48. JJ says:

    I am going to wait till 100 to collect my defined benefit pension from my old Big 4 accounting firm. Only then will it be worth something.

  49. The Great Pumpkin says:

    These points make more sense than blaming it on luck.

    “It’s not luck if the trend has been consistent over the past 50+ years. The Economist is taking the easy route out to avoid political controversy.

    At the end of the day, economy achieves its optimal growth potential when capital/businesses and labour/workers share the pie in a more or-less fair arrangement, because of the marginal propensity to consume. As a starkly right-wing (and growing more so) party, Republicans literally go all-in on the capital side. Democrats tend to strike a better balance, at least on the federal level. On the municipal level, it’s a different story and a story for another time.

    But anyway, the Economist should find be more honest and call spade a spade; federal Republicans suck at governing. They are actually wilfully harmful to the country, and the only reason that they get voted in is because the voters, for lack of a better word, are dumb.”

    “A quick look at the 50 years or so prior to this study suggests that the Democrats record extends further back into history. The difference is especially striking if one examines the return on equities. Timing? Maybe. Policies? More likely.”

    “Though one might surmise that Democratic presidents inherited hardier economies than Republican ones, they actually tended to take over when times were more difficult.” The next question, of course, is “why do you suppose that happened?”

    “There is a very simple explanation as to why Democrats do better–consumer confidence. The public trusts that Democrats will do more for them in regards to protecting their own personal economics than do-nothing Republicans.

    If Republicans were teachers, the Economist would have labeled them incompetent long ago using even less evidence.”

    FKA 2010 Buyer says:
    March 31, 2015 at 2:04 pm
    Guess it’s just dumb luck. The economic measures are all over the place.

    Timing is everything

    Since the second world war the economy has done better under Democratic presidents, who have overseen more job creation and higher stockmarket returns than Republican leaders. During this time the economy has grown about 1.8 percentage points faster when a Democrat occupies the White House (see chart). Messrs Clinton and Obama credit their economic policies. But new research suggests it has more to do with luck.

    http://www.economist.com/news/united-states/21611143-why-economy-has-grown-faster-under-democratic-presidents-timing-everything

    http://www.princeton.edu/~mwatson/papers/Presidents_Blinder_Watson_July2014.pdf

  50. The Great Pumpkin says:

    I’m confused. You will defend some jerk off that is literally robbing the taxpayer blind, but not give a crap about some worker who spent his life working at a dead end govt job earning a pension that he will never see? Avg state worker makes 50,000 or less, and will have a pension around the 25,000-30,000 mark; why are you so against these guys? What is so lucrative about making 50,000 a year and a 30,000 pension? If the pension is too much, what should it be? 15,000? So at 15,000 I have to support these retirees in their retirement through the tax supported welfare system because they can’t survive on 15,000 a year. So what the hell is the answer? Take away their pensions, but we still have to somehow take care of them when they are old. This dude making 6 million off the tax payer can go to hell. Can’t believe you would defend this bs.

    Anon E. Moose says:
    March 31, 2015 at 1:49 pm
    Pumpkin [27];

    I’m not saying that you’re wrong, but you’re wrong. Its the fatal flaw of class-envy based politics of the left.

    The problem is volume. One or a dozen crooked glad-hand no-bid contracts at a couple of million each is still cheaper than thousands of inflated pensions.

    That’s why everyone looks at that and says “If only I had that $6 MM in my pocket.” But if you were to spread that six million around to everyone, enjoy your happy meal.

  51. The Great Pumpkin says:

    These are the people I’m talking about. The political nepotism jobs like cops, judges, and high ranking govt politicians are the people who everyone gets pissed about. Too bad these people that make nothing take the hit for other people’s abuse of the system.

    I’ll always fight for the underdogs in life.

    “A full-time state worker, Witter does it on a $43,578.41 a year salary. She is one of 17,775 full-time state employees making less than $45,000 a year, according to a Star-Ledger analysis of the 2010 state payroll.”

    http://www.nj.com/news/index.ssf/2011/05/analysis_shows_some_nj_workers.html

  52. The Great Pumpkin says:

    It’s all about the money. There are no good guys left in this industry. Money has corrupted it. Money drives the medical field these days, not the idea of helping people. This is my opinion, maybe I’m wrong, but this is what it seems like to me.

    Walking Bye says:
    March 31, 2015 at 3:20 pm
    @29 I think a continuation from yesterdays topic of high malpractice. If you are going to squeeze doc’s with high malpractice costs while limiting re-imbursement to 2 times Medicare you are going to find the good guys tossing in the towel and moving off to capped states where insurance is less or signing on for a new lucrative career in finance . So you end up with your friend from Kazakhstan which is the only person willing to work 60 hours for peanuts . The flip side is for the doc to go out of network and charge $5000 for a $250 procedure.

  53. The Great Pumpkin says:

    Fair enough. I was just offering a suggestion if you are not happy with your current pay, people are getting raises out there. My wife and I have been hitting the 4 or 5% mark regularly. I have been at the same place for 10 years. My wife has been going 9 years strong.

    Libturd in Union says:
    March 30, 2015 at 12:04 pm
    No I have not Sir Blumpkin. But I have something much more valuable. A great quality of life in that I can pretty much work whenever I want including weekends. I manage three shifts of workers in two departments and have more work than can be performed in the typical 8 hour day, so really, I can work whenever. I can work from home too. I’d much rather take what I’ve got over an extra $2,000 a year. After you work for a while, you will understand this. This may also be why I don’t get the big raises, but I’ve made peace with this. I’ve made my job very secure by taking on responsibilities that no else can and have embedded myself in as many single points of potential failure as possible. Redundancy? That’s for suckers looking to be replaced.

    I am going on my 17th year here. How long have you been at your current employ?

  54. The Great Pumpkin says:

    I don’t know even who those people are. I have only used Michael and the great pumpkin. I’m not a troll. Im not messing around with you guys. I’m completely serious in my discussions. I try to help you, but you take it as an attack (you know it all).

    It’s difficult to find people to talk about these topics with. Most people could care less about economics and real estate, hence, why most people get burned when it comes to putting their money to work. I enjoy the discussions that take place here. I love learning and through educated discussion you learn a lot. That’s why I’m here, not to troll you.

    Fast Eddie says:
    March 30, 2015 at 4:57 pm
    ChiFi [75],

    A.K.A Re investor and who knows how many other handles. I think you mentioned it before and then I just totally forgot. I don’t recall if I ever met Pat at any of the GTGs.

  55. chicagofinance says:

    #1 By definition, no woman (esp your wife lunkhead) is older than 39….
    #2 If the pension has an abnormally high interest rate that it attributes to balances (which it sounds as if it does not), you can artificially use it as your fixed income allocation looking at your overall retirement savings as a holistic aggregation of accounts. Not something to use in general, but 2015 is so out of the ordinary for interest rates.
    #3 Of lesser importance is the idea of having multiple sources of income in retirement, and to the extent that you can have an above market annuity of indefinite length (i.e. lifetime once it starts) , you could say it is a unique opportunity …… but it needs to have above free market terms…… (hard to figure with such a long way to commencing).
    #4 As an aside….if Gator is expecting to spend most of 2015 on the beach (figuratively….maybe literally)….make sure that you make Roth contribs….also, depending on how much of Gator’s money is in an IRA and also if 2015 is a down AGI year, then maybe consider converting some IRA to Roth……if so, make sure you pay the tax out of fungible cash and not IRA balances…..the money is hard as heck to get into the Roth in the first place, you may as well max out as much as possible…..

    Libturd in Union says:
    March 31, 2015 at 2:20 pm
    Hey Chifi,

    Can you think of any good reason why 42-year old Gator should not role her measly defined pension benefit (which was frozen and closed like 8 years ago) into an IRA with the rest of her 401K money we already rolled over? Especially considering that she used to work for a magazine publisher. It’s hardly a forward looking industry (PGBC is definitely a possibility here). I think the growth rate of the pension is projected slightly higher than that of the current 30-year treasury. We are talking about a 25K lump sum. Unfortunately, she did not teach kindergartners or drive a lawnmower for the local government.

  56. Comrade Nom Deplume, who needs to stop screwing around and get back to work says:

    [54] punkin,

    Your altruism aside, name for me one person who will willingly endure years of college and medical school, and lowly paid residency, in order to work for a mean wage?

    If at the end of the day, I will be paid the same whether I lay brick or perform open heart surgery, I’m going with brick. Better yet, if I will be paid the same over the table no matter what I do, I am going to opt for a cash or partial cash business and take my pay under the table.

    In the future canadian-style system we adopt, you will see tipping make a huge comeback. Just like the hot nightclubs, if you want to avoid the line, tip the bouncer.

  57. Comrade Nom Deplume, who needs to stop screwing around and get back to work says:

    [58] redux,

    to wit:


    Montreal Gazette (November 27, 2010)
    Want fast care? Slip an MD some cash
    ‘It’s systemic’. Privatization fosters black market, physician says
    By Charlie Fidelman
    When their mother was diagnosed with pancreatic cancer, the twin sisters didn’t hesitate for a moment: They chose the surgeon they wanted and slipped him $2,000 in cash to bump their mother to the top of the waiting list.

    “We wanted to save our mother,” Vivian Green said. “It was cash incentive, to buy our place ahead of everyone else.”

    Green and her sister, Ora Marcus, say bribes are an open secret in the medical field. They grew up with a father who was an obstetrician at the Jewish General Hospital.

    “If you have money, you live, and if you don’t, you die,” Green said.

    Critics say the practice is illegal and unethical, but several patients who contacted The Gazette say offering envelopes stuffed with thousands of dollars to surgeons has become a way to speed treatment in public hospitals.

    One high-ranking physician who works with doctors at several Montreal hospitals told The Gazette that obstetricians often accept cash offered by expectant parents to ensure their doctor attends the delivery, rather than having to depend on whichever doctor is on call.

    “I’ve learned that it’s current practice. … Everyone within these hospitals knows about it,” he said of the hush-hush payments. “It’s systemic, and it has been so for a long time now.”. . . .

    snip

  58. grim says:

    59 – It’s like getting a speeding ticket in eastern europe or south america. It’s simply more efficient to make payment at the time of violation than go through all the bureaucracy and pomp of the judicial system, which ends up with exactly the same bribe being paid. The only difference is the time and place of the payment.

  59. grim says:

    Sounds like the market came up with a reasonable approach to socialized healthcare.

    Everyone entitled to the same basic level of medical benefits. If you want some sort of additional level of service or care, you pay it out of pocket.

  60. The Great Pumpkin says:

    First, I respect doctors. I’m not attacking them or expecting them to work for free. I expect doctors to get paid a lot more than avg, which they certainly do.

    Top sergeons easily make 800,000 a year, and I have no problem with that. Family practice doctors make in the 200,000 to 300,000 range and I think that is fair enough. So why are they complaining that they don’t make anything? Instead of whining, they should be thinking of ways to fix the healthcare industry. They want to get paid more, but it’s not possible. We can’t keep raising healthcare costs to the point where healthcare premiums cost the company so much that there is nothing left for a raise. So they need to figure out how to bring costs down. Can’t tap the consumer for much more. The majority of money a company sets aside to give their employees raises should not all go to an increase in health insurance premiums. That’s not good for the economy or anyone.

    Comrade Nom Deplume, who needs to stop screwing around and get back to work says:
    March 31, 2015 at 5:29 pm
    [54] punkin,

    Your altruism aside, name for me one person who will willingly endure years of college and medical school, and lowly paid residency, in order to work for a mean wage?

    If at the end of the day, I will be paid the same whether I lay brick or perform open heart surgery, I’m going with brick. Better yet, if I will be paid the same over the table no matter what I do, I am going to opt for a cash or partial cash business and take my pay under the table.

    In the future canadian-style system we adopt, you will see tipping make a huge comeback. Just like the hot nightclubs, if you want to avoid the line, tip the bouncer.

  61. ccb223 says:

    Com – so now you are telling a doctor how to do her job too? You must be a model patient…and probably a pleasure to work with.

  62. The Great Pumpkin says:

    62- top surgeons

  63. Comrade Nom Deplume, who needs to stop screwing around and get back to work says:

    [63] small caliber

    I’m sure. She is quite engaging and we had a very pleasant conversation. Her husband is a tech guy and I am sure they will do well.

  64. Comrade Nom Deplume, who needs to stop screwing around and get back to work says:

    [63] small caliber

    And is it really a surprise? Lawyers have been telling doctors how to do their jobs for years.

  65. Comrade Nom Deplume, who needs to stop screwing around and get back to work says:

    But I digress. I was wondering about this very topic today, and voila, there’s a new report:

    ” . . . The 22 commutations announced Tuesday come atop 21 earlier commutations issued by Obama. While recent numbers remain modest, they far outstrip the one commutation he issued in his first term.

    “We are thrilled and look forward to many more!” Clemency Project 2014’s Cynthia Rosebery said. “It is my fervent hope that what we have seen today is only the beginning and that the administration will make the exercise of its clemency power ever more robust.”

    Read more: http://www.politico.com/story/2015/03/president-obama-commutes-drug-sentences-116557.html#ixzz3W0OopwFd

    My personal opinion is that the floodgates (and prison doors) will open on January 19, 2017.

  66. Comrade Nom Deplume, who needs to stop screwing around and get back to work says:

    [62] punkin

    One of my projects at my last firm was due diligence on a hospital deal in NJ. I saw what the staff docs were making because I saw their contracts. It was nowhere near what you are saying they make.

    When you create a system where there is scare resource and great demand, corruption ensues. That’s one reason there will continue to be a two-tier system in the US; it legalizes this dichotomy, much in the way that grim’s tort option does. You can opt for the Lexus Lane or the slow lane. At least this way, you don’t have to bribe the cops to let you drive in the breakdown lane.

  67. The Great Pumpkin says:

    68- nom, you are def right. This is disgusting. Lesson here, it sucks to be a worker. Always taken advantage of, even if you are smart.

    http://www.nytimes.com/2014/05/18/sunday-review/doctors-salaries-are-not-the-big-cost.html?_r=0

  68. NJT says:

    #58
    ” …comeback. Just like the hot nightclubs, if you want to avoid the line, tip the bouncer”.

    Or punch him in the face HARD with a ‘hay bailer’ (turn and reach into a pocket prior). His buddies will laugh and let you pass while he’s laying on the ground.

    *Note (for you young guys..IF you can do it) DON’T go there again for a while (chicks will let you know).

  69. Thomas says:

    Pumps, from the time you’ve been posting on this website, you’ve always supported and defended ever higher property taxes. Only someone who is the beneficiary of said increases would be advocating for them. Early on you mentioned your sister was a teacher, so she would be a beneficiary, but I think you yourself are benefitting financially. Tell us in what way?

  70. Wily Millenial says:

    Roth Roth Roth Roth Roth. 3 years left on that $31000/yr rollover. I don’t care who the next president is. It’s gone. 3 years. Max.

  71. Comrade Nom Deplume, who needs to stop screwing around and get back to work says:

    [70] NJT

    At my age, that ain’t happening. And it isn’t an apt analogy. I’m not slugging my doctor.

  72. Comrade Nom Deplume, who needs to stop screwing around and get back to work says:

    [69] punkin,

    “nom, you are def right.”

    I always said you were smarter than people gave you credit for.

  73. The Great Pumpkin says:

    I have been nothing but honest here. Yes, I defend taxes for one reason, I know that society costs money to run. I can’t stand listening to people complain about taxes. They act like there is an alternative or some super cost effective means to pay for the cost of society. Guess what, there is not.

    Hypothetical situation. Take out the govt and privatize everything, so now you won’t be paying taxes, but you will be paying a toll for walking on a sidewalk or taking your kid to a park. You are paying for it, one way or the other, so stop complaining about it. Don’t want high taxes, go live in the middle of nowhere where there is nothing to drive up costs.

    If you rid the govt of all corruption, how much do you think your taxes would come down? I would bet 10% max and that’s being extreme. So it’s nice to comfort yourself into thinking almost all your tax dollars are stolen, but truth is, most of your tax money is spent on the high costs associated with a high cost of living state.

    Thomas says:
    March 31, 2015 at 8:08 pm
    Pumps, from the time you’ve been posting on this website, you’ve always supported and defended ever higher property taxes. Only someone who is the beneficiary of said increases would be advocating for them. Early on you mentioned your sister was a teacher, so she would be a beneficiary, but I think you yourself are benefitting financially. Tell us in what way?

  74. Libturd at home says:

    Thanks Chi. I really appreciate it. Believe it or not, I already considered taking the lump sum and Roth converting it all because it will be a lower AGI year, especially considering that my gravy train in AC appears to really be cutting the perks. Haven’t thought about the multiple source issue or too much about the current interest rate environment, but using my own track record and the average return of the indexes as a gauge, I have faith I can easily outperform the pension.

  75. Thomas says:

    Pumps, do you work in the public sector, yes or no?

  76. The Great Pumpkin says:

    Now I’m getting trolled. I was accused of this regularly when I first started participating on this blog. The only individual that is associated with public sector work that I know is my sister. I have stated numerous times on this board how much I pay in property taxes. Trust me, my wife and I are not paying over 28,000 in property taxes to the state of nj working for Uncle Sam.

    So answer my question. We have established that you hate taxes. So what is your alternative plan to pay for the costs of society? We can get rid of taxes, just explain to me how we will pay for the costs of society.

    Thomas says:
    March 31, 2015 at 9:24 pm
    Pumps, do you work in the public sector, yes or no?

  77. Thomas says:

    I want to pay what’s fair, not get gouged. We all need water, you seem to be saying you’d be happy to pay whatever your charged for it.

  78. The Great Pumpkin says:

    I want the same thing. I’m not willing to pay whatever, but I am willing to pay. I have a cousin by lake hapotcong that pays 4,000 in property taxes. I have another cousin in brick that pays around the same thing. They both have modest ranches. What does this tell me? If i take up their modest lifestyle, I will pay almost nothing in taxes. 4,000 is nothing. People complaining about high taxes need to check their life style. There are people living in nj with modest taxes.

    Steps to low taxes in nj

    1. Don’t live so close to the city.
    2. Don’t live in such a nice town.
    3. Don’t live in such a nice house.

    Let me guess, you want all the above, but don’t want to pay for it.

    Thomas says:
    March 31, 2015 at 9:49 pm
    I want to pay what’s fair, not get gouged. We all need water, you seem to be saying you’d be happy to pay whatever your charged for it.

  79. Thomas says:

    Pumps, can’t put my finger on it, but there is something that isn’t adding up with your position on property taxes.

  80. The Great Pumpkin says:

    80- Instead of complaining about taxes, people should be complaining about the lack of avg housing within commuting distance to the city. That is the problem. People like fast eddie want the avg, but the avg is not available here.

  81. The Great Pumpkin says:

    I accept it. That’s the difference. If I couldn’t afford it, I would sell and move into something I could afford. Nice area in any part of the country is going to have 10,000 or more in property taxes.

    I have a daughter and the Wayne school district is worth the cost for me. Schools cost money. So no brainer for me. Wayne also provides a good cost point compared to Morris and Bergen. It’s shares the same demographics of the nice towns in those counties, but at huge discount in price because it’s “Passaic county”. If my house was located in Ridgewood on one of the more desirable streets, it would be priced around 1.4 million. Location, location, location. Instead, it’s around 700k. I’ll take it.

    Thomas says:
    March 31, 2015 at 10:21 pm
    Pumps, can’t put my finger on it, but there is something that isn’t adding up with your position on property taxes.

Comments are closed.