41st consecutive month of foreclosure inventory declines

From DSNews:

Foreclosure Inventory, Completions Continue Decline Toward Pre-Crisis Levels

Completed foreclosures experienced another substantial year-over-year decline in March, moving even further away from their peak from nearly five years ago, according to CoreLogic’s March 2015 National Foreclosure Report released on Tuesday.

Foreclosure inventory also fell substantially year-over-year in March, declining by 25.7 percent down to about 542,000 mortgages (about 1.4 percent of all mortgages nationwide) – marking the 41st consecutive month of year-over-year declines, according to CoreLogic. In March 2014, there were about 729,000 residential homes, or 1.9 percent of mortgages nationwide, that were in some stage of foreclosure.

The number of completed foreclosures, which are an indicator of homes actually lost to foreclosure, totaled 41,000 for March 2015 – a decline of 15.5 percent from the previous March (48,000) and of about 65 percent from their peak experienced in September 2010.

The number of mortgages in serious delinquency (those 90 days or more overdue or in foreclosure or REO) fell year-over-year by 19 percent in March, down to about 1.5 million mortgages, representing 3.9 percent of all mortgages nationwide. March’s serious delinquency rate of 3.9 percent is the lowest since May 2008.

“We are seeing additional improvement in housing market conditions due to a decline in the serious delinquency rate to 3.9 percent, far below the peak of 8.6 percent in early 2010,” said Frank Nothaft, chief economist for CoreLogic. “Despite the decline in the number of loans that are 90 days or more delinquent or in foreclosure, the percent of homeowners struggling to keep up is still well above the pre-recession average of 1.5 percent.”

The state with the highest number of completed foreclosures for the 12-month period from April 2014 to March 2015 was Florida with 110,000, followed by Michigan (50,000), Texas (34,000), and Georgia and Ohio with 28,000 each. South Dakota had the lowest number of completed foreclosures for that same period with 16, followed by the District of Columbia (87), North Dakota (326), West Virginia (462) and Wyoming (517).

The state with the highest percentage of foreclosure inventory for March was New Jersey (5.3 percent), followed by New York (3.9 percent), Florida (3.3 percent), Hawaii (2.7 percent), and the District of Columbia (2.5 percent). States with the lowest foreclosure inventory in March were Alaska (0.3 percent), Nebraska (0.4 percent), and North Dakota, Montana, and Colorado at 0.5 percent each.

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

111 Responses to 41st consecutive month of foreclosure inventory declines

  1. grim says:

    From the Philly Inquirer:

    Home prices up in 85 pct. of cities

    Home prices climbed in 85 percent of U.S. metropolitan areas in the first quarter of 2015, as low mortgage rates and the strongest labor market in almost seven years spurred demand by buyers.

    The median price of a previously owned single-family home rose from a year earlier in 148 of the 174 areas measured, the National Association of Realtors said in a report Monday.

    Fifty-one areas had price gains of 10 percent or more, compared with 24 regions in the fourth quarter of 2014. Prices declined in 25 areas.

    The housing market is benefiting as employment returns to precrisis levels. Contracts to buy homes rose in March to the highest level for the month since 2005, according to the Realtors group. The unemployment rate was 5.5 percent in February and March, a level the Federal Reserve defines as full employment, meaning anyone who wants a job has one. The rate dropped to 5.4 percent in April.

    “We finally have much better job growth, and from that we are seeing the beginning of a recovery in the entry level of the housing market,” said Stephen East, an analyst with Evercore ISI in St. Charles, Mo. “Entry-level buyers have been the missing piece of the recovery, and they are starting to come back.”

    The median price for an existing single-family home in the three months through March was $205,200, up 7.4 percent from the first quarter of 2014, according to the report.

    Prices probably will gain 5.9 percent in 2015, compared with 5.7 percent in 2014, the association said in a forecast on its website.

  2. grim says:

    185 comments yesterday, damn that’s impressive.

  3. Juice Box says:

    Another reason why the feds ned to pony up to modernize rail in the Northeast.

    50 mph curve on tracks in Philly, that train must have been doing 80 mph at least.

    http://www.nbcphiladelphia.com/news/local/Amtrak-Derailment-Philadelphia–303536331.html

  4. Liquor Luge says:

    Now, back out Punkin’s intellectual vomit; what’s the count?

    “185 comments yesterday, damn that’s impressive.”

  5. Liquor Luge says:

    I’m doing my fair share of posting b/c I’m lying at home, having the first allergy attack of my life. Holy fcuk.

  6. Fast Eddie says:

    Meat,

    Start drinking. :)

  7. anon (the good one) says:

    Michael has added much value to this site. Board was becoming very boring without him

    grim says:
    May 13, 2015 at 6:44 am
    185 comments yesterday, damn that’s impressive.

  8. I haven’t used it in years, but it might be time to go back and write a new Greasemonkey script to automatically removes all Grating Pumpskin posts on the fly.

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

    Now, back out Punkin’s intellectual vomit; what’s the count?

    “185 comments yesterday, damn that’s impressive.”

  9. anon (the good one) says:

    @TIME:
    Jeb Bush: I would have authorized the Iraq war

    @pourmecoffee:
    “My name is Jeb Bush and I was unprepared for questions about the Iraq war. Please elect me to defend the nation against threats.”

  10. Liquor Luge says:

    Think I’ll take a nap while the pea-brained anon works out his issues here.

  11. Libturd in Union says:

    Crazy flip by me. Would love to see it sell for that, but I doubt it. House is on corner of extremely busy Watchung Ave.

    http://www.zillow.com/homedetails/590-Ridgewood-Ave-Glen-Ridge-NJ-07028/52631254_zpid/?z&utm_source=email&utm_medium=email&utm_campaign=emo-inferredsearch-address

  12. Libturd in Union says:

    “Michael has added much value to this site.”

    Only YOU would value the village idiot.

  13. Ragnar says:

    Anon,
    I promise not to vote for Jeb Bush.
    I promise not to vote for Hillary Clinton.

    So go ahead and freely bash those two, if it makes you feel better.
    So far I’ve yet to see someone who is excited about Jeb who wasn’t either 1)a politician, 2)a political consultant, or 3)a businessman who expects Jeb to do him a favor, or who’s already received a favor.

  14. jcer says:

    13, crazy indeed that is one ugly and small house for 625k.

  15. The Great Pumpkin says:

    Jealous?

    Liquor Luge says:
    May 13, 2015 at 7:27 am
    Now, back out Punkin’s intellectual vomit; what’s the count?

    “185 comments yesterday, damn that’s impressive.”

  16. The Great Pumpkin says:

    Idiot? Why, because I don’t promote ideas you agree with? What are we five years old?

    Libturd in Union says:
    May 13, 2015 at 9:36 am
    “Michael has added much value to this site.”

    Only YOU would value the village idiot.

  17. The Great Pumpkin says:

    This is the humorous part. You have a bunch of right wing republicans that hate everything about Obama. Meanwhile, Obama has done more for the republicans than george bush jr ever did for his party. Why fast eddie types hate Obama is beyond me.

    The Original NJ ExPat says:
    May 13, 2015 at 7:52 am
    The most comprehensive, albeit biased, article I’ve read on TPP so far:

    http://www.salon.com/2015/05/12/the_10_biggest_lies_youve_been_told_about_the_trans_pacific_partnership/

  18. The Great Pumpkin says:

    Wow, that person that bought in 2007 took a huge hit on that sell(lost 50%). If this sells for around the current price, they prob want to kick themselves in the ass for selling so cheap.

    Libturd in Union says:
    May 13, 2015 at 9:34 am
    Crazy flip by me. Would love to see it sell for that, but I doubt it. House is on corner of extremely busy Watchung Ave.

    http://www.zillow.com/homedetails/590-Ridgewood-Ave-Glen-Ridge-NJ-07028/52631254_zpid/?z&utm_source=email&utm_medium=email&utm_campaign=emo-inferredsearch-address

  19. NJGator says:

    Lib 13 – Craziest thing about that place is that someone bought it for $695k when it was an utter POS in 2007.

    Good luck to them in getting it. The house next door which is a bigger colonial and a somewhat better yard sold for $622k at the end of last year.

  20. joyce says:

    Yeah, why didn’t they spend $$ on renovations and 8 more years of PITI… those idiots!

    The Great Pumpkin says:
    May 13, 2015 at 9:59 am
    Wow, that person that bought in 2007 took a huge hit on that sell(lost 50%). If this sells for around the current price, they prob want to kick themselves in the ass for selling so cheap.

  21. Andrew says:

    590 Ridgewood will sell over ask, G.R. buyers are crazy

  22. NJGator says:

    Andrew 23 – Don’t bank on it. The property is awful – corner of Ridgewood and Watchung….almost no yard and it’s a small ranch – not the most desired type of home in town.

    We know the folks who sold the house next door and they definitely did not get over ask when they sold a few months ago.

  23. Wily Millenial says:

    People think they’re buying the property taxes. Not a lotta homes in GR at $11K. Fortunately, the reassessment will never come!

  24. The Great Pumpkin says:

    What makes them an idiot is buying during the peak in 2007. It’s their money, but I surely would have looked into renovating it and trying to lose the least amount of money possible. I would never ever take a 50% loss on a property. I would rather rent it out then take that loss.

    joyce says:
    May 13, 2015 at 10:02 am
    Yeah, why didn’t they spend $$ on renovations and 8 more years of PITI… those idiots!

    The Great Pumpkin says:
    May 13, 2015 at 9:59 am
    Wow, that person that bought in 2007 took a huge hit on that sell(lost 50%). If this sells for around the current price, they prob want to kick themselves in the ass for selling so cheap.

  25. Libturd in Union says:

    Either way Gates and Andrew, it will be nice to see where she sells at. I’m going with 569K which is still insane, but entirely in the realm of stupid possibility.

  26. NJGator says:

    Wily 25 – The property taxes are at $11k based on the former condition of the house and the 2013 sale (it was a dump that was falling down). The flipper filed permits to renovate. The tax man will be there soon enough.

    And any idiot who overpays based on the current tax bill has a rude surprise coming, because the tax man will use their sale price to justify the new assessment when they appeal. I know someone who bought a renovated house on Belleville Ave back in 2012. A flipper bought the house in 2011 for $376,500….they bought the house in 2012 for $850k. Taxes went up from $15k to about $25k after the revaluation….and there was not a thing they could do because the new assessment was $750k and they paid $850k. Go try and cry unfair to the county tax board over that one.

  27. anon (the good one) says:

    Rags, this is more you

    @realDonaldTrump:
    The only one to fix the infrastructure of our country is me – roads, airports, bridges. I know how to build, pols only know how to talk!

    Ragnar says:
    May 13, 2015 at 9:45 am
    Anon,
    I promise not to vote for Jeb Bush.
    I promise not to vote for Hillary Clinton.

  28. NJGator says:

    Pumpkin 26 – You would have had to dump another six figures easy into that place to make it even habitable. I wouldn’t be surprised if the flipper put $200k into it.

    What kinda rent do you think they’d need to get on an 1800SF ranch to cover that nut?

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

    [19] punkin,

    What? I’ve come to Love Obama. He’s making me money.

    Oh sure, he’s turning the country into Western Europe but I’m getting mine. Gonna suck for my kids’ generation but at least I can protect them.

  30. joyce says:

    I initially wrote $100K in my comment but then deleted it before posting. Also not surprised if it was double that.

    NJGator says:
    May 13, 2015 at 10:35 am
    Pumpkin 26 – You would have had to dump another six figures easy into that place to make it even habitable. I wouldn’t be surprised if the flipper put $200k into it.

  31. joyce says:

    Idiot doesn’t ‘think’ , never has never will … doesn’t factor in opportunity cost or a whole host of other factors.

    NJGator says:
    May 13, 2015 at 10:35 am

    What kinda rent do you THINK they’d need to get on an 1800SF ranch to cover that nut?

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

    [3] juice,

    That’s one tragedy that hits close to home. For a couple of years, that was my commuter rail. After 2 years of DC-Philly weekly, I took regionals to NYC 3X a week for a year and then to Newark daily for another year. Mrs. Deplume practically lived on Acelas.

    Good thing those days are behind us as this is gonna fcuk up the Corridor for at least a week, probably longer.

  33. Andrew says:

    I’m going with $640k sales price. All of the comments on the size, style, and location hold true, but inventory is low, it’s updated-no matter how poorly, and I stand on G.R. buyers being crazy. People want to live in G.R. and nobody even wants to paint, let alone redo a bath.

  34. Libturd in Union says:

    Andrew,

    I hope your right. I have witnessed the lunacy first hand and it is possible.

  35. Libturd in Union says:

    you’re.

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

    Headed out to an appt., but wanted to share this newest first place award for Newark (apologies if posted)

    http://www.cnbc.com/id/102646654

  37. The Great Pumpkin says:

    Jesus, they bought in peak. They lose no matter what. They over-payed from the start. There is no easy way out of this. They will lose big no matter what. I was talking about trying to recoup some of the loss. They are never ever getting all their money back. They are down over 300,000. I was talking about trying to lower the loss by renting it out for five years and pray the market goes higher. This way you have them help pay some of the mortgage and hope the market gets back up by 2020-2021. No matter what option you choose, this person will feel pain. They made a terrible choice in buying at peak. The market has no mercy on people who bought at the wrong time.

    If they only put down a small down payment, say 5% or less, they should have stopped making payments and walked away. If they put down the 20% down payment and have been making payments, I would just suck it up and try to collect rent till prices get higher. In this rental market, anything rents. I had 40 calls in a hour for an apartment that I listed last week. Rental market is on fire.

    joyce says:
    May 13, 2015 at 10:41 am
    Idiot doesn’t ‘think’ , never has never will … doesn’t factor in opportunity cost or a whole host of other factors.

    NJGator says:
    May 13, 2015 at 10:35 am

    What kinda rent do you THINK they’d need to get on an 1800SF ranch to cover that nut?

  38. The Great Pumpkin says:

    40- You are never going to get full rent to cover mortgage, but you are receiving money none the less. If you end up collecting 13,000 in profit per year, that’s better than losing 13,000 a year. That’s 65,000 in 5 years. If the prices went up, on top of the 65,000, at least you saved yourself 100k in 5 years. If economy improves in the next 5 years and we experience wage inflation, you can guarantee that you will find a sucker to overpay around 2021. So no way in hell that I would take that 50% loss, but that’s just me.

  39. Juice Box says:

    Speaking of Flippers.

    I looked at this place two years ago when it was first listed after the flipper paid $237K in December 2012 and it was listed for about $630K in Winter of 2013, now re-listed for $750k this spring and just reduced to $720k.

    They slapped in some really shoddy updates. The pictures are extremely deceiving. Some of the worst molding work I have ever seen, looks like it was replaced again in these pics. The TINY kitchen is Home Depot and held together with bailing wire. Yard is non-existent, it was paved over, you drive around back to park underneath the house.

    Right neighborhood however, waiting for the next sucker with some credit and $140k Deposit.

    http://www.zillow.com/homedetails/35-Tatum-Dr-Middletown-NJ-07748/39331318_zpid/

  40. NJGator says:

    Andrew 36 – I remain skeptical. Not a single picture of a new home depot bathroom or a bedroom to be found for the listing. I’m pretty sure there is zero yard. This house ain’t “the dream” and is listed at a premium.

    Anyone willing to settle on house type to get into town would be better off looking at the realtor’s other listing at 71 Chestnut Hill. That one is “only” $575k…has a tax bill that won’t increase with the sale and has about 200 more SF and a cul de sac location instead of a traffic light at your bedroom window. Not that I think that house is a deal either, but more bang for your buck if you’re willing to “settle” for Linden Ave School.

  41. D-FENS says:

    If anyone can negotiate with unions and get infrastructure built, it’s probably him.

    anon (the good one) says:
    May 13, 2015 at 10:34 am
    Rags, this is more you

    @realDonaldTrump:
    The only one to fix the infrastructure of our country is me – roads, airports, bridges. I know how to build, pols only know how to talk!

    Ragnar says:
    May 13, 2015 at 9:45 am
    Anon,
    I promise not to vote for Jeb Bush.
    I promise not to vote for Hillary Clinton.

  42. D-FENS says:

    Anon, did you decide who you would vote for in a primary yet? Bernie Sanders?

  43. NJGator says:

    Pumpkin 40/41 – Our Montclair multi rents for more than full PITI coverage even though we overpaid for it during the bubble. That house in Glen Ridge never would have. It was a dump for years after the 2007 purchase price. In fact when Lib and I were looking for houses in the 2009/2010 range it was still a dump and a massive construction project. No way was it getting rented out. Renovation work actually continued on this place until it was brought to market.

    I think the guy who bought it ran out of money trying to renovate it. He seems to be a renter in Hoboken now that dabbles in real estate. Good thing he has a day job.

  44. Libturd in Union says:

    He’s waiting for a tweet from god to tell him.

  45. Nomad says:

    Captain Cheapo,

    Cell phone question and thought if anyone knows the best deal, would have to be you so if you don’t mind:

    My good friends at VZW lowered by bill $15/mo now that I am out of contract (old Blackberry) and they will take back the $15/mo for 24 mos if I get a new phone (real price of phone is “two year” price + ($15 x 24) so $360 in phone cost imbedded in monthly bill + upfront phone cost.

    Thoughts? Am thinking why not get prepaid cheap smart phone and pop a regular (non-prepaid) VZW SIMM card into it. Not sure if with prepaid I get hit for extra $$ for roaming.

    Appreciate your thoughts.

    PS – is iOS better than Android or other way around?

  46. Nomad says:

    Comrade, #35

    – some claim CSX running heavy freight impacts rails causing this problem. Who would have oversight or is there something in the rail rental agreement about track integrity for safety?

    Is this the catalyst for high speed rail w/separate tracks? A few years ago Penn students did a project and I thought they said $35B for this inc all the eminent domain and tunnels.

  47. The Great Pumpkin says:

    Wow, this guy is the definition of a muppet. He has no business ever purchasing properties. He should stick to renting if he knows what’s good for him. He made almost every mistake in the book with this purchase. Seriously, what was he thinking?

    NJGator says:
    May 13, 2015 at 12:22 pm
    Pumpkin 40/41 – Our Montclair multi rents for more than full PITI coverage even though we overpaid for it during the bubble. That house in Glen Ridge never would have. It was a dump for years after the 2007 purchase price. In fact when Lib and I were looking for houses in the 2009/2010 range it was still a dump and a massive construction project. No way was it getting rented out. Renovation work actually continued on this place until it was brought to market.

    I think the guy who bought it ran out of money trying to renovate it. He seems to be a renter in Hoboken now that dabbles in real estate. Good thing he has a day job.

  48. The Great Pumpkin says:

    I’m all for it. We should be focusing on investing in infrastructure and education. You are investing in the building blocks of society. Building a strong foundation. You can’t lose. Everything else will fall into place.

    Nomad says:
    May 13, 2015 at 12:40 pm
    Comrade, #35

    – some claim CSX running heavy freight impacts rails causing this problem. Who would have oversight or is there something in the rail rental agreement about track integrity for safety?

    Is this the catalyst for high speed rail w/separate tracks? A few years ago Penn students did a project and I thought they said $35B for this inc all the eminent domain and tunnels.

  49. anon (the good one) says:

    @TheTweetOfGod:

    I know I should stop appearing in Republicans’ dreams and saying “I command thee to run for President!” but dammit, it’s so friggin’ fun.

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

    [49] nomad

    I thought CSX ran on different tracks in that area. It is such a heavily used corridor, I don’t see it but I could be wrong.

    As for infrastructure, it’s needed and 35B to run it just from NYC to DC would be cheap.

  51. Libturd in Union says:

    Nomad,

    As proud as I am of that name, my unwillingness to part from Verizon continues to irk me to no end. It’s such a shame that their technology is so superior to everyone else, but their customer service and price stinks. I’ve contemplated going the sim card route, but my employ already gives me $50 a month cell phone usage allowance. Combined with Gator’s old 20% discount from her former employ and the fact that we have two smart phones, one iPad and one dumb phone (Jr.) on the account, the splurge is not that bad. Plus, we get an extra $10 off by combining our land line (yeah, it’s actually free with FIOS so we keep it), cable, internet and cell phone service. I call it the Fourplay. Not sure why they don’t (wah wah). Plus, their policy of letting you flex your bandwidth without penalty is a nice pro as well. With that said, I’m not sure I can be of much help besides telling you to surf around for ways of at least getting some kind of discount if you choose to stay with them. I remember reading something on mymoneyblog that showed how anyone (even the unemployed) can get a 5% discount just by asking. Start there. I know there are a lot of single people going the prepaid route successfully, especially those who travel internationally a lot. But, it seems like a bit of a hassle for a smallish discount. Good luck. Maybe someone else here has a better idea.

  52. The Great Pumpkin says:

    Verizon customer service is a joke. Their sales team is even worse. I would describe them as car salesmen, getting you to sign the dotted line and then give you a nice surprise on your first bill. They told my wife and I that our bill will would be 130 for the month. Get the bill and it’s 160 dollars. We flipped out and were given the go around on the phone to the point where we had no choice, but to go into the place in person and fight them. Best part, we get to the verizon store and they kept telling us they were busy and would help us when they could. We waited 45 min before we lost it (they were hoping we would just leave, but that’s wishful thinking on their part) and had to go to war with them to get this resolved. What a joke. Wasted so much of our valuable time on a con move by their sales team. It was an extremely stressful experience. Best part, searched reviews online and thousands of people dealing with the same crap I had to deal with. They do not value customer service at all.

    Libturd in Union says:
    May 13, 2015 at 1:04 pm
    Nomad,

    As proud as I am of that name, my unwillingness to part from Verizon continues to irk me to no end. It’s such a shame that their technology is so superior to everyone else, but their customer service and price stinks. I’ve contemplated going the sim card route, but my employ already gives me $50 a month cell phone usage allowance. Combined with Gator’s old 20% discount from her former employ and the fact that we have two smart phones, one iPad and one dumb phone (Jr.) on the account, the splurge is not that bad. Plus, we get an extra $10 off by combining our land line (yeah, it’s actually free with FIOS so we keep it), cable, internet and cell phone service. I call it the Fourplay. Not sure why they don’t (wah wah). Plus, their policy of letting you flex your bandwidth without penalty is a nice pro as well. With that said, I’m not sure I can be of much help besides telling you to surf around for ways of at least getting some kind of discount if you choose to stay with them. I remember reading something on mymoneyblog that showed how anyone (even the unemployed) can get a 5% discount just by asking. Start there. I know there are a lot of single people going the prepaid route successfully, especially those who travel internationally a lot. But, it seems like a bit of a hassle for a smallish discount. Good luck. Maybe someone else here has a better idea.

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

    [185] [prior] Rory Martin

    “#183 Eddie Ray

    I think the short answer is “your morality” if you are defending the use of the word.”

    Not sure how morality comes into play, but if you are so aggrieved, dime me out. I’ll even give you the number: (202) 514-2151.

  54. Juice Box says:

    Google Fi is the game changer for Cell Phones. Fi Basics for $20/month. It includes unlimited domestic talk and text, unlimited international texts, Wi-Fi tethering to use your phone as a hotspot, and access cellular coverage in 120+ countries.

    https://fi.google.com/about/

  55. grim says:

    I want to get a prepaid sim, no data plan, and a Nokia 515.

    Good old days. Nokia 515 is the *BEST* mobile phone on the market. Too bad you have to get an unlocked one from Europe to use it in the States.

  56. The Great Pumpkin says:

    Wow, that’s awesome.

    Juice Box says:
    May 13, 2015 at 1:32 pm
    Google Fi is the game changer for Cell Phones. Fi Basics for $20/month. It includes unlimited domestic talk and text, unlimited international texts, Wi-Fi tethering to use your phone as a hotspot, and access cellular coverage in 120+ countries.

    https://fi.google.com/about/

  57. grim says:

    My dad has a Sony xperia android phone that he uses a prepaid sim with, no data plan. His is connected to Optimum wifi and it pretty much functions like a phone with a data plan. Some things don’t work perfectly, and he is sometimes out of data range, but for the 5-10 a month he pays for the SIM, who cares? I feel like an idiot with a $150/mo plan with 2 phones.

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

    phones, meh. So 2014.

    My prediction for the Next Big Thing in tech is body cameras and lifelogging apps

    http://www.venturecapitalnews.us/home/post/is-this-tiny-stock-the-next-big-thing/582

    Right now, this is only being discussed for cops but this goes waaaay beyond cops. I just read an article on how bicyclists use gopros or other body cams as “dashcams.”

    I can easily foresee these taking off with people who want them for “personal dashcams” and, going forward, watch for employers of all stripes to start requiring employees to use them. Think truck and train drivers, day care workers, and anyone in an industry where lawyers tend to flock should something bad happen.

    This is one reason I thought GoPro would justify its valuation; if they moved into the dashcam and personal bodycam markets, they’d kill it.

  59. Libturd in Union says:

    Best cell phone (dumb phone) that I ever had was a Nokia as well. It was a candy bar that would run for two weeks without a charge (with decent amount of talktime) and had a slide out keyboard for texting. The ringer was loud as was the voice. Man I wish my iPhone worked half as well as a phone as this 10-year old Nokia did. When I was in India, everyone had that phone too.

  60. Juice Box says:

    Train was travelling in excess of 100 mph?

  61. Nomad says:

    Thanks to all for your comments on smartphones and what appears to be all of our beloved VZW provider.

    Juice, has 100 mph been verified? I know that turn, no protocol making them slow it down there?

    Maybe at some point, GPS or sensors before big turns like PHL to override throttle on locomotive and force train to slow down at certain points on track. Maybe Google will invent self driving train. One thing for sure, when the computers stop working one day, it is going to suck.

  62. Ragnar says:

    Nomad, pretty sure that train control technology has existed for years, and that train worker unions have opposed for years as “job-killers”.

  63. NJGator says:

    Amtrak Train That Derailed Said to Be Going 100 M.P.H.; 7 Killed

    PHILADELPHIA — The Amtrak train that derailed in Philadelphia on Tuesday night was traveling at a speed of at least 100 miles an hour or twice the speed limit in that part of the corridor, according to two people with knowledge of the investigation.

    The speed of the train was recorded in the so-called black box data recorders that were recovered from the wreckage, while emergency crews searched for more survivors and victims of a crash that killed at least seven people and injured more than 200.

    http://www.nytimes.com/2015/05/14/us/amtrak-train-derails-crash-philadelphia.html?hp&action=click&pgtype=Homepage&module=a-lede-package-region&region=top-news&WT.nav=top-news

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

    I’ve been on that train dozens, perhaps hundreds of times, and I remember it as a slow ride through that section of Philly. The drivers know this; someone fcuked up.

    The first thing I thought of was the Maryland crash from a few decades ago.
    http://en.wikipedia.org/wiki/1987_Maryland_train_collision

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

    More information coming out. Given the route, most or all of the dead would likely have NY/NJ ties:

    http://www.nbcnewyork.com/news/local/Amtrak-Crash-New-Yorker-Rockaway-Naval-Midshipman-Among-Six-Killed-303610261.html

  66. D-FENS says:

    There are apps that allow you to make you iPhone into a dashcam…today.

    It’s not that far fetched to foresee the use of small cameras that pair to the phone using Bluetooth and act like a body cam.

    Comrade Nom Deplume, who needs to stop screwing around and get back to work says:
    May 13, 2015 at 2:10 pm
    phones, meh. So 2014.

    My prediction for the Next Big Thing in tech is body cameras and lifelogging apps

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

    [69] d-fens

    Exactly. I am aware of the apps because I looked into some but they have their limitations, and it ties up your phone.

    But I did give thought to your idea about cams that tie into the phone via bluetooth and could periodically upload data. Or that record data then download to the phone via bluetooth and can later be uploaded to a cloud site.

    Reason I see this taking off is that I see liability everywhere and so do employer and other risk managers (incl insurance cos.). I figure that in addition to investment, there will be legal issues and it could not hurt to be the go-to guy for answers. Doesn’t exactly jive with my current gig but so what?

  68. leftwing says:

    >Nomad, pretty sure that train control technology has existed for years, and that train worker unions have opposed for years as “job-killers”.

    Really tired of this stuff. Public union employees come talk about pensions when you enter the real world and more than 1% of you per year are let go for cause. Until then, you are living in Wonderland, whining about how life is getting tougher there. Too bad.

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

    New photo on CNN of one of the train cars. It looks like a can that had been put through a metal shredder.

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

    I’m not telling my girls about this. It will give them nightmares.

  71. Statler Waldorf says:

    It’s truly fascinating how people are willing to spend so much on cell phones. Especially the 20-somethings who spend half their net worth on the stuff, and are unable to carry a conversation without staring at a screen. Apparently after sitting in front of a networked computer all day, people need to spend a small fortune to remain online for a few extra hours?

    Hardware expense, data plan expense, voice plan expense, phone insurance expense, thief/mugging magnet. How does that all look in a spreadsheet? $2,500 per year, after tax dollars?

    Then factor in the loss of privacy — every click, website visited, purchase made, app used, GPS location, call made, call received. Everything tracked and recorded and 100% identifiable as you.

  72. The Great Pumpkin says:

    The simple life is gone. You are either plugged in or not. New generations will never know how it feels to grow up under the simple life where your life isn’t plugged into the cloud. Remember, this is only the beginning.

    Statler Waldorf says:
    May 13, 2015 at 4:03 pm
    It’s truly fascinating how people are willing to spend so much on cell phones. Especially the 20-somethings who spend half their net worth on the stuff, and are unable to carry a conversation without staring at a screen. Apparently after sitting in front of a networked computer all day, people need to spend a small fortune to remain online for a few extra hours?

    Hardware expense, data plan expense, voice plan expense, phone insurance expense, thief/mugging magnet. How does that all look in a spreadsheet? $2,500 per year, after tax dollars?

    Then factor in the loss of privacy — every click, website visited, purchase made, app used, GPS location, call made, call received. Everything tracked and recorded and 100% identifiable as you.

  73. leftwing says:

    Nice.

    http://www.wsj.com/articles/north-korean-defense-minister-executed-by-anti-aircraft-fire-south-says-1431483504?mod=e2tw

    As a junior deal team member I once fell asleep in a drafting session for a Siemens deal overseas right after the Wall fell. Probably ought to count myself lucky it wasn’t a couple years earlier.

  74. Juice Box says:

    re # 76 – sounds like the long knives were coming out for little Kim.

  75. The Great Pumpkin says:

    Don’t fall for the political rhetoric where you attack fellow workers. Most govt workers are not getting over on anyone. Reg people getting reg wages to survive. Just like some workers make out like bandits in the public sector, same thing applies to private sector.

    Baseball players getting 20,000 dollars every time they bat is a rip off. Lower the ticket prices and have the owners lower their profit for the fans they are ripping off. Why aren’t you complaining about the pay package in sports?

    How about executives? How can you justify some of these pay packages? Guy takes the company down and next thing you know, he’s getting payed millions to walk away. That’s a worse crime than any public sector employee could ever pull off.

    So why do you only attack govt employees? I’m sure there is someone working at Google or Apple, making 6 figures and doing absolutely nothing. They know the system and know how to abuse it. Does that make all Google employees bad? Hell, you are crying about a pension, meanwhile at Google, if an employee dies, their family is given half of his paycheck for 10 years. The kids are given a 1,000 a month till 18 and 24 if they go to college. Why aren’t you bitching about that? Why do you people only attack govt employees(most that are making peanuts)?

    leftwing says:
    May 13, 2015 at 3:46 pm
    >Nomad, pretty sure that train control technology has existed for years, and that train worker unions have opposed for years as “job-killers”.

    Really tired of this stuff. Public union employees come talk about pensions when you enter the real world and more than 1% of you per year are let go for cause. Until then, you are living in Wonderland, whining about how life is getting tougher there. Too bad.

  76. FKA 2010 Buyer says:

    I’ve been busy taking on a new role looking at Regs. Boring stuff but job security, expecially here. Anyway, its good to come down from the ivory tower sometimes, give back and spend time with the commoners….

    Zero down, no fees: New mortgage program will help homebuyers rehabilitate Detroit homes

    “Mortgage rules are formulaic,” said Matt Elliot, Michigan market president for Bank of America. They don’t consider extenuating market conditions like the ones that exist in Detroit.

    The new program will write mortgages up to 110 percent of a home’s value – or up to 150 percent if purchased through the Detroit Land Bank Authority home auctions. Additionally, the new loans offer favorable terms and are available to anyone who plans to live in the house and who doesn’t already own a property. Here are a few of the highlights:

    0 percent down
    No closing costs
    No fees
    No maximum income
    Credit score is not considered
    Below market fixed rates (currently 3.5 percent for a 30-year loan and 2.875 percent for 15 year)
    Ability to buy down the interest rates to near 0 percent
    Loans of up to $200,000

    “This is character-based lending,” said Bruce Marks, the founder and CEO of NACA, likening it to the VA loans that were made to vets after World War II. “It is a fully documented loan, but we look at income and ability to pay, not credit scores. … This is a model for restabilizing neighborhoods.”

    http://www.crainsdetroit.com/article/20150416/BLOG017/150419875/zero-down-no-fees-new-mortgage-program-will-help-homebuyers

  77. grim says:

    107 mph – wow – I didn’t think they went that fast.

  78. Statler Waldorf says:

    Amtrack Acela 165 MPH speed test:

    http://www.youtube.com/watch?v=FWf-ipNl5fQ

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

    [80] grim,

    Oh yeah, they do. Again, if driven properly, only on straightaways.

  80. Ragnar says:

    Here’s the Wikipedia article on “positive train control”.
    It’s supposed to already be implemented in Amtrak’s NE Corridor, so if it allowed that train to run 100mph, it failed or was overridden.

    http://en.wikipedia.org/wiki/Positive_train_control
    Amtrak[edit]

    Alstom’s and PHW’s Advanced Civil Speed Enforcement System (ACSES) system is installed on Amtrak’s Northeast Corridor between Washington and Boston. ACSES enhances the cab signaling systems provided by PHW Inc. It uses passive transponders to enforce permanent civil speed restrictions. The system is designed to prevent train-to-train collisions (PTS), protection against overspeed and protect work crews with temporary speed restrictions.[38][39]

  81. leftwing says:

    >Baseball players getting 20,000 dollars every time they bat is a rip off. Lower the ticket prices and have the owners lower their profit for the fans they are ripping off. Why aren’t you complaining about the pay package in sports?

    Punkin

    Again, I don’t care how much anyone makes. $1. Or $1 billion. What the neighbor makes is your issue, not mine.

    The difference in your examples is I have the choice to not fund anyone in the private sector if I don’t want to. Baseball is a great example. Went to easily a dozen Yankee games or so with my boys each year in the old stadium. With the move, STH price increase, and the other factors I did not want to fund them any longer. So I didn’t. Been to two games at the new stadium since it opened.

    Ditto any corporation. If I don’t like their compensation structure, or anything else about them, I sell their stock and don’t buy their product.

    I am forced to fund public service employees, however, under threat of fine or imprisonment. I have no choice. Big difference.

    Unless you are telling me I can send in a pro-rata property tax payment without consequences?

  82. leftwing says:

    83 Rag

    CNBC just reported ACSES not in place at this part of the corridor. Had NTSB quote.

  83. 1987 Condo says:

    #83…it is planned to be in place by end of year according to Sen. Schumer

  84. leftwing says:

    NTSB pulled no punches. On camera official said accident ‘would not have happened’ if ACSES were in place and ACSES omission was ‘single biggest factor’ in the accident.

    Be interesting sorting this one out. Somebody is getting teed up for a long, hard drive.

  85. The Great Pumpkin says:

    You act like govt employees are responsible for every dollar you spend in taxes. When the govt borrows money, who is collecting the interest? Materials? Heating and electric costs? Maintenance costs on buildings and vehicles? The military spending at the federal level on weapons and investment in technology. But keep blaming workers.

    Do you understand the important role govt plays in keeping our society functioning? It would be nice to get rid of it, but that’s not really possible. The govt provides the means to allow everything to function. Let me tell you, if you think our govt is corrupt, you should see other places like China. Reality is understanding that without a govt, society would fall apart….govt is the glue that keeps it all together. Nothing is perfect, but anything is better than the law of anarchy.

    leftwing says:
    May 13, 2015 at 5:35 pm
    >Baseball players getting 20,000 dollars every time they bat is a rip off. Lower the ticket prices and have the owners lower their profit for the fans they are ripping off. Why aren’t you complaining about the pay package in sports?

    Punkin

    Again, I don’t care how much anyone makes. $1. Or $1 billion. What the neighbor makes is your issue, not mine.

    The difference in your examples is I have the choice to not fund anyone in the private sector if I don’t want to. Baseball is a great example. Went to easily a dozen Yankee games or so with my boys each year in the old stadium. With the move, STH price increase, and the other factors I did not want to fund them any longer. So I didn’t. Been to two games at the new stadium since it opened.

    Ditto any corporation. If I don’t like their compensation structure, or anything else about them, I sell their stock and don’t buy their product.

    I am forced to fund public service employees, however, under threat of fine or imprisonment. I have no choice. Big difference.

    Unless you are telling me I can send in a pro-rata property tax payment without consequences?

  86. The Great Pumpkin says:

    88- I was focusing on elimination of govt, because I assume that you do not want to pay taxes. So I promise you this; if most of the govt was privatized, everything would cost you more money in the end. In the beginning, competition might bring prices down(like what you are seeing with über). But after the winner prevails, costs will go up and service will go down. In the end, it will cost you way more than taxes do, for all those services.

  87. leftwing says:

    88. Punkin

    Come back on the ranch brother. Wandering far afield.

    My issue is not how much is spent (although I do support much lower spending).
    My issue is not about the breakdown of spending (although the idea the government is the best allocator of resources went out with five year soviet plans).

    The issue is solely about choice.

    Any activity relying on the full force of the government to compel my behavior needs to be held to a higher, not lower, standard of measure.

    Ring fencing a group of citizens with elite benefits – retire after 20 years, the ability to dictate lifetime pension amounts through last years’ compensation, the near inability to get fired for cause, lifetime healthcare – and then using the power of the government to force me to pay for it is morally and ethically bankrupt. And, predictably, soon to be financially bankrupt.

  88. leftwing says:

    The arrogance of liberalism.

    Believing that you (or any government you select) knows what is better for 315 million people than they do for themselves.

    Kind of miss that smugness, haven’t seen it out in force since protests in Day Hall back in the day.

    Please, dear sir, can you tell me what I should have for breakfast tomorrow too?

  89. anon (the good one) says:

    extreme right wingers destroying us

    @kristinapet:
    House panel approves transportation bill that would cut Amtrak funding 1 day after fatal crash via @WSJPolitics

  90. leftwing says:

    Let’s wait for the substance tests to come back on the 115 mph union man before casting dispersions about funding.

    I don’t think this was an infrastructure failure /sarcasm/

    I do have a question for our resident left: Are seven deaths and 140 injuries cause enough for action against a good union man?

  91. The Great Pumpkin says:

    No govt is perfect. I do believe most people require a govt to function in a society. Without govt, the law is whatever one wants it to be. This usually ends up bad with no checks and balances in place to limit power. For all the negative talk of our govt, it is the oldest govt in the world for a reason. The check and balance system works.

    leftwing says:
    May 13, 2015 at 6:01 pm
    The arrogance of liberalism.

    Believing that you (or any government you select) knows what is better for 315 million people than they do for themselves.

    Kind of miss that smugness, haven’t seen it out in force since protests in Day Hall back in the day.

    Please, dear sir, can you tell me what I should have for breakfast tomorrow too?

  92. The Great Pumpkin says:

    Get it done.

    “Just as important, Peter Rogoff , an under secretary in the federal Transportation Department, announced on the same day that President Obama considers the Gateway rail tunnel to be the nation’s No. 1 rail transportation priority, ensuring that the project will go to the top of the federal funding list for rail projects.

    We now have a unique opportunity for federal and state leaders to come together to agree on a funding plan to get the tunnel built as the first stage of an overall plan that would double trans-Hudson rail ridership capacity by 2040 and finally provide “one seat” rides for commuters on all northern and central New Jersey rail lines.

    Jump-starting this project would create tens of thousands of jobs, spur economic growth, increase income and raise homeowner real estate values at a time when New Jersey ranks near the bottom in both economic and job growth. It is an economic must.”

    http://www.nj.com/opinion/index.ssf/2015/05/time_for_christie_to_get_on_board_and_fast_track_g.html#incart_story_package

  93. anon (the good one) says:

    @HarvardBiz:
    We need to reinvest in America’s deteriorating transportation infrastructure. The costs of not doing so are too high.

  94. Fabius Maximus says:

    #93 Leftwing

    What are you saying?
    https://www.youtube.com/watch?v=_x2m6i4KFqg

  95. anon (the good one) says:

    @NewYorker: .@JohnCassidy: After the #Amtrak Crash, It’s Time to Get Serious About Transportation Infrastructure

    “Much of our public infrastructure is overloaded and crumbling.

    America is a growing country, and investment in infrastructure has failed to keep up with expanding needs. According to the Congressional Budget Office, in the nineteen-fifties and sixties we spent close to five per cent of G.D.P. on new transport and water projects, and on maintaining existing systems. European nations still spend about that much today, while China and other rapidly developing Asian countries spend close to twice as much.

    In the United States, however, spending on infrastructure is only about half of what it used to be, relative to G.D.P.”

  96. Fabius Maximus says:

    #53 Eddie Ray

    Why do I need a number? I didn’t think that you being an AHole was against the law. I thought it was covered under the First Amendment.

  97. Comrade Nom Deplume, Live from Orlando says:

    99] Rory Martin

    Yes it is, and it apparently holds for visitors to our shores as well.

  98. Comrade Nom Deplume, Live from Orlando says:

    And if you haven’t guessed, and it’s apparent you didn’t, I was defending the right to be an a-hole.

    You’re welcome

  99. The Great Pumpkin says:

    Let’s go Rangers!!

  100. Hughesrep says:

    I can tell you that all large construction jobs cost pretty much the same, whether it be government or private money. The difference is where the money goes.

    If it’s Trump, the money at the end goes to the bankruptcy lawyers. Cue should be shot. If it’s government money, it goes to whoever got the inside early and paid off the right people. Pay early, or pay late. Doesn’t really matter. Everyone gets their pound of flesh.

  101. joyce says:

    “For all the negative talk of our govt, it is the oldest govt in the world for a reason.”

    how about an intelligence test before being allowed to post? or just an outright ban for being so stupid

  102. Hughesrep says:

    83

    Ragnar

    Why can’t we let the free market decide how fast a train can run? Hank and Dagney would think you are a pu$$y.

    There are two novels that can change a bookish fourteen-year old’s life: The Lord of the Rings and Atlas Shrugged. One is a childish fantasy that often engenders a lifelong obsession with its unbelievable heroes, leading to an emotionally stunted, socially crippled adulthood, unable to deal with the real world. The other, of course, involves orcs.

    – John Rogers

  103. The Great Pumpkin says:

    Maybe I should have worded it differently. Longest standing constitution, otherwise I have no idea why you are so pissed off.

    joyce says:
    May 13, 2015 at 8:52 pm
    “For all the negative talk of our govt, it is the oldest govt in the world for a reason.”

    how about an intelligence test before being allowed to post? or just an outright ban for being so stupid

  104. Essex says:

    91. Heh heh. You are one fascinating human there.

  105. Comrade Nom Deplume, Live from Orlando says:

    Something about the Amtrak crash occurred to me. The train was northbound. The tracks leaving 30th St. wind around the zoo and through No Philly and that isn’t a very straight route. There isn’t a lot of track to get up to that speed from the Schuykill crossing to Frankfort Junction. These trains accelerate fast but he must have thrown open the throttle as soon as he got across the river.

  106. The Original NJ ExPat says:

    The Pumpskin is such a moron.

  107. D-FENS says:

    BREAKING: GotNews IDs Gay Activist Train Engineer Who Caused Amtrak Crash UPDATED W/ PHOTOS!

    MAY 13, 2015 BY CHARLES C. JOHNSON 84 COMMENTS

    http://gotnews.com/breaking-gotnews-ids-gay-activist-train-engineer-who-caused-amtrak-crash/

    Gotnews.com has independently identified the engineer at the center of the Amtrak crash that has killed at least seven.

    Brandon Bostian is the 32-year-old gay man who lawyered up after a deadly derailment in Philadelphia. The train was reportedly going twice the speed limit.

    ABC 6 previously reported that “Brandon Boshan,” not Brandon Bostian, was to blame for the deadly crash. (They have since taken down the link.)

    Bostian is a gay activist who previously worked at Target as a cashier before joining Amtrak, according to his LinkedIn.

    The comments here confirm GotNews.com’s scoop.

  108. The Great Pumpkin says:

    What a game, what a series!!! This team has heart!!

Comments are closed.