Smooth sailing for NJ real estate?

From the Star Ledger:

N.J. home sale prices tick up as Realtors report strong housing market

New Jersey homes are selling for more than they were a year ago, new data shows, as real estate professionals in the state report a strong housing market that isn’t expected to ebb soon.

Tg Glazer, the president-elect of New Jersey Realtors and an agent at the Coldwell Banker Westfield East office, said listings are up and sales are up. That’s pushing up prices, Glazer said, but “at a reasonable rate.”

“We’re in the heart of the spring market right now,” Glazer said. “We have a few months left in that busy part of our season and we’re expecting that the trends are going to continue.”

Data released earlier this month by New Jersey Realtors put the median sales price for single-family properties, townhouses, condominiums and properties in adult communities in the state at $270,000 in April, a jump of 4.2 percent from the same time a year ago. The report also showed an increase in new listings, pending sales and closed sales.

A report released Thursday morning by the Irvine, Calif.-based real estate data firm RealtyTrac also shows a year-over-year increase in median sales prices in New Jersey though it’s not as large.

The median sales price for single-family homes and condos in New Jersey clocked in at $248,000 in April, the RealtyTrac report found, which represents an increase of 1 percent over the same time last year.

The median sales prices nationwide inched up 2 percent to $171,700 over that time frame, according to the RealtyTrac report.

While prices are ticking up overall, the market varies from place to place in New Jersey.

County-level data from New Jersey Realtors shows the median sales price of just single-family homes in Cape May County dropped by 10 percent in April compared to April 2014, while Essex County saw a 10 percent bump. The RealtyTrac data also shows swings from county to county.

As Glazer put it: “All real estate is very local.”

Richard Leonard, the broker/owner of Arcadia Realtors in Roseland, said the market is active, with some homes in towns like Glen Ridge, Caldwell and Montclair garnering multiple bids.

When asked how this spring stacks up with recent years, Leonard said, “No comparison, in my opinion. I haven’t seen this kind of situation until prior to 2008.”

This entry was posted in Demographics, Economics, Housing Recovery, New Jersey Real Estate. Bookmark the permalink.

92 Responses to Smooth sailing for NJ real estate?

  1. phoenix says:

    First

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

    Reading Section 8 regs. How can HUD say so little with so many words?

  3. grim says:

    2 – They pay by the hour

  4. From the article, this guys sums it up while obviously intending to convey something different. “prior to 2008” — Wasn’t that also a really bad time to be a RE buyer?

    Richard Leonard, the broker/owner of Arcadia Realtors in Roseland, said the market is active, with some homes in towns like Glen Ridge, Caldwell and Montclair garnering multiple bids.

    When asked how this spring stacks up with recent years, Leonard said, “No comparison, in my opinion. I haven’t seen this kind of situation until prior to 2008.”

  5. Classic prescient grim (from July 2006!):

    http://njrereport.com/index.php/2006/07/20/bernanke-loses-mind/

    The Fed knows a full-scale housing bust is on it’s way, regardless of what Ben said about an “orderly cooling” of the market this afternoon. I believe the key words in his statement were “so far”.

    There is only one reason to allow Fannie and Freddie to expand their portfolios during “emergency” situations, it is to keep the mortgage money flowing. The GSEs will likely be unable to sell these MBS’s on the open market, thus they will have no other choice but to stockpile these loans in their own portfolios.

    The GSE Bailout will make both the S&L and LTCM bailouts look like childs play.

    grim

  6. [5] One of the 19 posts that day:

    chicagofinance says:
    July 20, 2006 at 5:03 pm
    personally, I think that the flat yield curve means that even at 5.25% Fed Funds, borrowing rates are still stimulative

    look at this crap!!!
    3-Month 5.08%
    2-Year 5.06%
    10-Year 5.03%

    I will say that spreads are widening on all credits, including mortgages, so that is good, but the base Treasury dominates the pricing.

  7. The Great Pumpkin says:

    Glad to see big business moving in the right direction when it comes to the treatment of animals.

    “For years, Wal-Mart has enabled a horrendous form of institutionalized cruelty, even worse than forcing employees to wear those blue vests with How May I Help You? emblazoned on their backs.

    But in the wake of hiking its minimum wage to $10 for 500,000 workers, the company continues to get in touch with its humanity: On Friday, it pledged to never again tolerate animal abuse by its meat and dairy suppliers, which includes banning pig crates, those cages that imprison them so tightly they cannot move.

    Imagine that. The world’s largest private employer came to a moral awakening that somehow eluded the Governor of New Jersey.

    Of course, when Chris Christie vetoed the bill that called for an end to pig crates, he wasn’t under the same pressure as Wal-Mart, which noticed that other major retailers (McDonald’s, et al.) refused to work with pork suppliers using gestation cages.

    But this should not be political issue, even if you’re a presidential candidate being judged by the breakfast meat you choose in a caucus state. If you have one molecule of empathy, you’d recognize the cruelty of the industrial pig farming.”

    http://www.nj.com/opinion/index.ssf/2015/05/heres_why_wal-mart_is_more_humane_than_christie_ed.html#incart_river

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

    grim says:
    May 29, 2015 at 7:34 am
    2 – They pay by the hour

    I should have seen that coming. (d’oh slap)

  9. Bystander says:

    #4,

    It is another bubble. Poor towns are getting poorer and middle class towns are getting poorer too. Settling millenials looking to buy are desperate to stay out of crumbling areas and failing school systems. Cheap money and low DPs are creating reach similar to depths of 2006-2007. You’ll never convince me that 27 yo millennials can generally afford 625k homes with 11k tax bills. At least, not in the long run. Wait til those kids come and they get a whiff of child care costs. Your wife’s 50k blog editor job won’t cut it and neither will your single income. I was outbid three times and two couples profiles fit above description.

  10. Nomad says:

    Grim,

    In the past you have expressed thoughts on using sequestered device for online banking. I would not do any of this with any wifi (even home secure/encrypted) so I know I want something with ethernet but beyond that, any thoughts on hardware / software? Thanks,

    PS – for browsing, iPad seems frustratingly slow, have you ever used Chromebook

  11. Fast Eddie says:

    I went to see this one Tuesday eveneing. I had to see it because of location, property, etc. The layout is nice but from top to bottom, the house needs everything. Everything except the hot water heater and furnace. The siding meeting the roof lines is starting to rot away leaving gaps and holes which no doubt means trouble.

    Everything else is original and basically, you need another 100K minimum to get it close to being nice. It’s a pretty cul de sac and behind it is a golf course. But it needs a TON of work. The taxes are $14,500 and once again, puts the monthly nut over the top. If the taxes were 5K less, it would be very enticing. So, again, I’m still wondering how they keep talking about the housing market in our area in these articles but the subject of property taxes is rarely mentioned. I really don’t know how people are doing it.

    http://www.njmls.com/listings/index.cfm?action=dsp.info&mlsnum=1506638&dayssince=&countysearch=false

  12. Fast Eddie says:

    Bystander [10],

    You are absolutely right. There is no logical explanation for it otherwise.

  13. FKA 2010 Buyer says:

    There’s still money out there

    Once bankrupt Hostess fielding bidders in $2 billion deal

    Twinkies never die.

    Neither does its Hostess brand, apparently, as Post Foods joined the sea of bidders looking to acquire the snack company for as much as $2 billion, according to the New York Post. (Tweet This)

    Mexico’s Grupo Bimbo, Georgia-based Flowers Foods, and Switzerland’s Aryzta shared similar interests, all submitting offers by the bidding deadline. Private equity firms are also said to be interested in Hostess, but many of the same firms also submitted bids for AdvancePierre Foods at a similar price range of around $2 billion.

    http://www.cnbc.com/id/102714252

  14. JJ says:

    That house has new boiler, furnace type stuff which are the guts of the house. The lay out looks good and neighbors are not on top of you. It would seem to me get it 529K and immediately grieve the taxes based on purchase price then do all the repairs with off the books cash folks prior to moving in. Once low taxes kick in and it is all renovated you will have some pretty good equity.

    Fast Eddie says:
    May 29, 2015 at 9:53 am
    I went to see this one Tuesday eveneing. I had to see it because of location, property, etc. The layout is nice but from top to bottom, the house needs everything. Everything except the hot water heater and furnace. The siding meeting the roof lines is starting to rot away leaving gaps and holes which no doubt means trouble.

    Everything else is original and basically, you need another 100K minimum to get it close to being nice. It’s a pretty cul de sac and behind it is a golf course. But it needs a TON of work. The taxes are $14,500 and once again, puts the monthly nut over the top. If the taxes were 5K less, it would be very enticing. So, again, I’m still wondering how they keep talking about the housing market in our area in these articles but the subject of property taxes is rarely mentioned. I really don’t know how people are doing it.

    http://www.njmls.com/listings/index.cfm?action=dsp.info&mlsnum=1506638&dayssince=&countysearch=false

  15. xolepa says:

    (9) C’mon guys, you should know better. They get paid for each word.

    Wasn’t that how it was originally done?

  16. FKA 2010 Buyer says:

    Paul Singer: This is the new ‘big short’

    Billionaire investor Paul Singer says he has spotted the next big thing to bet against: bonds.

    “Today, six and a half years after the collapse of Lehman, there is a Bigger Short cooking. That Bigger Short is long-term claims on paper money, i.e., bonds,” Singer wrote in a letter to investors of his hedge fund firm Elliott Management obtained by CNBC.com.

    “Bigger Short” is a play on “The Big Short,” the book by Michael Lewis describing how a tiny group of investors made huge sums of money for their contrarian bets against mortgage-backed securities before the collapse of the housing market in 2007 and 2008.

    http://www.cnbc.com/id/102715625

  17. JJ says:

    That same sized house in same condition in Long Island in towns like Manhasset, Garden City or Rockville Centre would go for around 1.2-1.3 million with 30K in property taxes. I see young couples in their 30’s snatch them up in a few weeks of being on the market then throwing 100k-200K in renovations prior to movingin.

    Fast Eddie says:
    May 29, 2015 at 9:53 am
    I went to see this one Tuesday eveneing. I had to see it because of location, property, etc. The layout is nice but from top to bottom, the house needs everything. Everything except the hot water heater and furnace. The siding meeting the roof lines is starting to rot away leaving gaps and holes which no doubt means trouble.

    Everything else is original and basically, you need another 100K minimum to get it close to being nice. It’s a pretty cul de sac and behind it is a golf course. But it needs a TON of work. The taxes are $14,500 and once again, puts the monthly nut over the top. If the taxes were 5K less, it would be very enticing. So, again, I’m still wondering how they keep talking about the housing market in our area in these articles but the subject of property taxes is rarely mentioned. I really don’t know how people are doing it.

    http://www.njmls.com/listings/index.cfm?action=dsp.info&mlsnum=1506638&dayssince=&countysearch=false

  18. FKA 2010 Buyer says:

    Nothing like a little doom and gloom in the morning to get your blood pumping.

    Wall Street’s Young Guns Brace for First Big Test as Fed Looms

    This youth brigade — call it Wall Street’s class of 2009 – – is about to learn what higher interest rates from the Federal Reserve look like first hand. Their inexperience has left older, more experienced colleagues wondering how these relative youngsters will fare. “What we’ve been through the past four years has been ‘what is the fastest, easiest money to find?’” said El Mihdawy, who studied economics at Columbia University. “If one day that narrative changes and investors no longer believe in the omnipotence of central banks, then it will bring back what was old school — fundamental analysis and really caring about what’s going on.”

    http://www.bloomberg.com/news/articles/2015-05-28/wall-street-s-young-guns-brace-for-first-big-test-as-fed-looms

  19. JJ wannabe says:

    JJ are you sure you do not know this gentleman.

    http://www.bloomberg.com/news/articles/2015-05-28/here-are-the-best-quotes-from-dick-fuld-s-first-speech-since-the-financial-crisis

    Richard “Dick” Fuld, the former CEO of the now defunct Lehman Brothers, gave his first public appearance since his company when bankrupt in 2008 at the start of the global financial crisis. Delivering the speech to the Marcum MicroCap conference in just a shirt and tie, Fuld got off a number of memorable lines. Here’s a sampling of some what he said:

    “Liquidity is important … I could talk for a month on this. No comment.”

    “Income inequality, I know you don’t want to hear this from me but the wealthy are getting wealthier. And again the belly of America is getting hurt.”

    “You do not know what you do not know. Chew on that.”

    “Whatever it is, enjoy the ride. No regrets”

    “Do your homework and take smart risks”

    When asked on stage about why he’s still working:

    “Why don’t you bite me… I didn’t think I had a choice.”

    “You don’t have time to hear all the things I would have done differently.”

    [Lehman] “was not a bankrupt company. The information coming out now is speaking to that.”

    “Did we fall prey to some other agendas? I’ll leave it at that”

    “No this is not scotch or rum.”

    About his 96-year-old mother:

    “She still loves me.”

  20. Ragnar says:

    Ben, (from yesterday)
    Sympathies about being stuck in an industry dominated by unions. At least when I was in one, I knew that it was temporary, and unusual in my field, and that my next job would be out of a union.
    But the essence of the union I was in appeared to be “protect the incompetent and unmotivated at the expense of the talented and motivated,” while misdirecting all dissatisfaction that resulted within the ranks by blaming it on “management”.

    It was a writer’s guild. They put out an occasional “newspaper” mostly to promote the union to its members. The predictable irony was that it was incompetently written and edited.

  21. JJ says:

    Dick Fluid is my p0rn star name

  22. homeboken says:

    From previous –

    Wily Millenial says:
    May 28, 2015 at 7:40 pm
    As high as taxes are here, everywhere else is catching up…
    Livingston NJ is 12.6% > age 65, compare to 13.1% nationally… plenty of room for that number to go down.

    Please explain – I don’t follow what you mean when you say “that number.” Do you mean taxes or the % > 65? In either event, I do not ever expect the annual tax bill on a home to drop (unless grieved/appealed). The best you can hope is that the bill stays flat – but once it goes to a certain level, that becomes the new floor. Local muni’s have zero incentive cut spending and THEN pass on savings to the tax payer. They may cut spending, level off tax collections and build future reserves, but your tax bill is not going down due to the benevolence of those who create your muni budget.

  23. JJ says:

    Honestly a muni should NEVER cut taxes if it has large pension funds and lots of muni bonds outstanding. Short term it is good, long term calling some bonds or funding the pension or medical plan with a surplus is a better deal.

    If through some miracle you have multiple years of surplus I still would not cut tax rate. On LI and most of NYS they would give a refund check. So the surplus in a one time shot is refunded. But to make it permanent how do you know future years will have a surplus.

    homeboken says:
    May 29, 2015 at 10:47 am
    From previous –

    Wily Millenial says:
    May 28, 2015 at 7:40 pm
    As high as taxes are here, everywhere else is catching up…
    Livingston NJ is 12.6% > age 65, compare to 13.1% nationally… plenty of room for that number to go down.

    Please explain – I don’t follow what you mean when you say “that number.” Do you mean taxes or the % > 65? In either event, I do not ever expect the annual tax bill on a home to drop (unless grieved/appealed). The best you can hope is that the bill stays flat – but once it goes to a certain level, that becomes the new floor. Local muni’s have zero incentive cut spending and THEN pass on savings to the tax payer. They may cut spending, level off tax collections and build future reserves, but your tax bill is not going down due to the benevolence of those who create your muni budget.

  24. Ben says:

    Ben, (from yesterday)
    Sympathies about being stuck in an industry dominated by unions. At least when I was in one, I knew that it was temporary, and unusual in my field, and that my next job would be out of a union.
    But the essence of the union I was in appeared to be “protect the incompetent and unmotivated at the expense of the talented and motivated,” while misdirecting all dissatisfaction that resulted within the ranks by blaming it on “management”.

    It was a writer’s guild. They put out an occasional “newspaper” mostly to promote the union to its members. The predictable irony was that it was incompetently written and edited.

    It’s all good. I was able to find a job at another district and negotiate exactly what I wanted. Long story short, I got in one year in what the union would have had me wait 15 to 20 years for. It’s almost insulting I had to pay dues for them to negotiate my contract.

  25. Fast Eddie says:

    JJ,

    …immediately grieve the taxes based on purchase price then do all the repairs with off the books cash folks prior to moving in.

    Sure. Presto, it’s done.

  26. JJ says:

    Don’t laugh, but now I am going to target the two or three very high taxed homes in my town I am everyone else has been avoiding.

    If I can get the house for 100K less cause taxes are very high and then maybe get decent price due and add in I will pay sellers realtors fees and sellers closing costs out of pocket to lower purchase price somewhat it gives me a great price to grieve at. Then buy a house that needs no work like extensions etc I need to pull permits. My guy can redo bathrooms, a kitchen painting on his own. I see a few houses in town that have been sitting on market two years plus empty with taxes between 20k and 30K.

    I bet you five years down the road I will have taxes way down and have a fully renovated house. The next buyer who buys the now low taxed house at a high price as it is all redone may get low taxes for a few years but his purchase price will kill him by the time he sells.

    Fast Eddie says:
    May 29, 2015 at 11:39 am
    JJ,

    …immediately grieve the taxes based on purchase price then do all the repairs with off the books cash folks prior to moving in.

    Sure. Presto, it’s done.

  27. Libturd in Union says:

    Don’t forget to calculate the cost of paying someone to cleanup all of the poop left behind from the all cash off the book workers.

  28. Wily Millenial says:

    Wily Millenial says:
    May 28, 2015 at 7:40 pm
    As high as taxes are here, everywhere else is catching up…
    Livingston NJ is 12.6% > age 65, compare to 13.1% nationally… plenty of room for that number to go down.

    Please explain – I don’t follow what you mean when you say “that number.” Do you mean taxes or the % > 65?…

    Yeah, I meant the older folks will be forced to move. I agree, taxes will not go down without an extremely unlikely-seeming structural reform.

  29. Bystander says:

    Another example why this country is so f-ed up..steal a TV and get shot or go to prison. Steal over 20k and you are a “good person” who gets probation. Govt. workers can treat public money like personal piggy bank time and time again, yet these criminals are slapped on the wrist by same govt. system.

    http://m.stamfordadvocate.com/policereports/article/Stamford-Historical-Society-treasurer-get-6292445.php

  30. Wily Millenial says:

    > It is another bubble. Poor towns are getting poorer and middle class towns are getting poorer too. Settling millenials looking to buy are desperate to stay out of crumbling areas and failing school systems. Cheap money and low DPs are creating reach similar to depths of 2006-2007. You’ll never convince me that 27 yo millennials can generally afford 625k homes with 11k tax bills. At least, not in the long run. Wait til those kids come and they get a whiff of child care costs. Your wife’s 50k blog editor job won’t cut it and neither will your single income. I was outbid three times and two couples profiles fit above description.

    I know all us young people are stupid, but that math isn’t so bad. We don’t all work at Panera…

    At 27 I sold my house in the city and bought a (significantly nicer) house in the burbs for about the same price. Prop taxes are about quadruple what I paid in NYC, but losing the city income tax made it a net gain (!). After commuting costs / risk of paying for private high school in the city, it’s probably a wash.

    I have a spreadsheet with childcare costs and property tax increases in it. Sure, it’s a bummer. I plan to sit on my ass for a few years to maximize my earning potential, then bail for cheaper climes when the second kid comes. (Hmm, that does sound like bubble talk.)

  31. D-FENS says:

    @DavidLeaverton: Woops… Saudis’ Drive To Kill U.S. Shale Has Backfired by @Mark_J_Perry http://t.co/cuKdD8NnlM http://t.co/fIVYw1ErGH

  32. Wily Millenial says:

    > …immediately grieve the taxes based on purchase price then do all the repairs with off the books cash folks prior to moving in.

    I just saw a house in my nabe in great condition sell *quickly* — for like $200K under ask. Extreme outlier. Nothin shady about that deal.

  33. D-FENS says:

    30 – The difference is that one is violent and the other is not. The TV was stolen under cover of an ongoing riot or at gunpoint. Meet force with equal or greater force.

  34. Bystander says:

    Wily,

    Cheers. I never question the acumen of anyone who actually found this blog, except Blumpkin..though his issues are plagiarism and straight up naivety.

  35. joyce says:

    34
    You can say one is more violent than the other, but stealing of all kinds is by definition violent.

  36. Bystander says:

    Dfens,

    Dude it’s grand larceny. How about a non violent weed sale? Lots of people get jail time for it. What about the guy who stole 460k in quarters and sees no jail time? Problem is that these crimes are considered “victimless” by the govt. system when indeed we are all victims. Unfortunately no old faces or crying families show up on the news for these stories. A few days in jail would be appropriate to teach these idiots a hard lesson, instead it is hardly viewed as a crime.

  37. The Great Pumpkin says:

    Plagiarism? Really? Come on now.

    Bystander says:
    May 29, 2015 at 12:39 pm
    Wily,

    Cheers. I never question the acumen of anyone who actually found this blog, except Blumpkin..though his issues are plagiarism and straight up naivety.

  38. Wily Millenial says:

    Heh. I too lost several bidding wars to other snotnosed children. It starts to cloud your judgement… I look back now on some of the houses I bid on and wonder what I was thinking. I ended up buying a overpriced listing for under ask, thank god… no thanks to the broker.

  39. Libturd in Union says:

    D-FENS:

    Today oil is at 65 Brent/60 US.

    Plumpy predicted $100 as did most others here.

    Libturd in Union says:
    February 3, 2015 at 3:12 pm

    “Juice and PF,

    You are both crazy. Oil will bounce back a bit for sure. But we won’t see $100 oil for years. I would expect it to settle in the $60s at the highest with occasional pops into the $70s. Probably won’t see $100 for at least half a decade. Heck, the whole reason the shale field went crazy in the first place was that oil over $70 made it profitable. The second oil sees $80 again, all of the small cats will be back driving supply levels too high once again.”

  40. The Great Pumpkin says:

    You are missing his point. I totally agree with him. Rob a bank for 5,000 and go to jail for a long time. Rob millions from people’s retirement fund and nothing happens. That’s crazy.

    Bystander says:
    May 29, 2015 at 12:54 pm
    Dfens,

    Dude it’s grand larceny. How about a non violent weed sale? Lots of people get jail time for it. What about the guy who stole 460k in quarters and sees no jail time? Problem is that these crimes are considered “victimless” by the govt. system when indeed we are all victims. Unfortunately no old faces or crying families show up on the news for these stories. A few days in jail would be appropriate to teach these idiots a hard lesson, instead it is hardly viewed as a crime.

  41. Libturd in Union says:

    Wily,

    Losing the bidding war is the best thing that could possibly happen to any prospective home buyer. There’s a family close to us that won a bidding war back in 2006. Today they are living in an apartment.

  42. Libturd in Union says:

    Since I know it’s coming. Here’s your quote Plumpjack…

    The Great Pumpkin says:
    February 3, 2015 at 2:51 pm

    Read the article. States that we have hit bottom, and due to cutting future investments in oil exploration, we could see in the future demand not meet supply and result in 200 dollars a barrel.

    So in other words, cutthroat capitalism at its best. They have dropped the price to take out their competition, once the competition is gone, they will jump prices and take full advantage of the situation that they have created.

    Libturd in Union says:
    February 3, 2015 at 2:39 pm
    “OPEC sees oil prices at $200 a barrel”

    Sure…one day long after we are all dead.

  43. Bystander says:

    Blump,

    At least we made progress..you did not argue naivety.

  44. The Great Pumpkin says:

    Well done. I was dead wrong. Saudi’s are playing a dangerous game.

    Libturd in Union says:
    May 29, 2015 at 12:55 pm
    D-FENS:

    Today oil is at 65 Brent/60 US.

    Plumpy predicted $100 as did most others here.

    Libturd in Union says:
    February 3, 2015 at 3:12 pm

    “Juice and PF,

    You are both crazy. Oil will bounce back a bit for sure. But we won’t see $100 oil for years. I would expect it to settle in the $60s at the highest with occasional pops into the $70s. Probably won’t see $100 for at least half a decade. Heck, the whole reason the shale field went crazy in the first place was that oil over $70 made it profitable. The second oil sees $80 again, all of the small cats will be back driving supply levels too high once again.”

  45. D-FENS says:

    Here we go again….

    @PatDollard: FBI/Police Have Set Up Cameras And Plan A “Large Presence” At Phoenix Mohammed Cartoon Contest/Rally… http://t.co/7KmWA2endy

  46. The Great Pumpkin says:

    Won’t argue that. I’m young and have a lot more learning to do.

    Bystander says:
    May 29, 2015 at 1:08 pm
    Blump,

    At least we made progress..you did not argue naivety.

  47. chicagofinance says:

    Mexican Food (JJ Edition):

    Loco! Chicago woman attacks boyfriend in bathroom of burrito joint after he refuses sex, cops say

    Stephanie Miller is accused of banging her boyfriend’s head against the wall next to the urinal after she followed him inside the men’s room, began str!pping and demanded s-x, The Chicago Tribune reported.

    The man told cops he brought Miller to El Burrito Loco in Midlothian, Ill., on April 25 after she behaved erratically and threw sandwiches while at a nearby pub.

    When he turned her down for bathroom s-x, Miller went loco, police allege.

    A bizarre attack took place in the men’s room at El Burrito Loco in Midlothian, Ill.
    Cops also discovered prescr!ption p!lls with someone else’s name in Miller’s possession.

    Miller, charged with domestic battery and illegal possession of prescr!ption drugs, is being held at Cook County Jail on $75,000 bail.

  48. Wily Millenial says:

    “Losing the bidding war is the best thing that could possibly happen to any prospective home buyer. ”

    Preach. I bought the previous home during the market trough and had never been in a multiple-offer situation before. Very instructive. Especially as a seller.

  49. Wily Millenial says:

    > Read the article. States that we have hit bottom, and due to cutting future investments in oil exploration, we could see in the future demand not meet supply and result in 200 dollars a barrel.

    To be fair, Pumpkin isn’t the only one who thought that. OPEC did too.

  50. The Great Pumpkin says:

    Still believe that. This price war over the oil market has only begun. Whoever the winner is will jack the price up.

    Libturd in Union says:
    May 29, 2015 at 1:05 pm
    Since I know it’s coming. Here’s your quote Plumpjack…

    The Great Pumpkin says:
    February 3, 2015 at 2:51 pm

    Read the article. States that we have hit bottom, and due to cutting future investments in oil exploration, we could see in the future demand not meet supply and result in 200 dollars a barrel.

    So in other words, cutthroat capitalism at its best. They have dropped the price to take out their competition, once the competition is gone, they will jump prices and take full advantage of the situation that they have created.

    Libturd in Union says:
    February 3, 2015 at 2:39 pm
    “OPEC sees oil prices at $200 a barrel”

    Sure…one day long after we are all dead.

  51. Libturd in Union says:

    If there is anything one should be taught about OPEC…it’s never to believe a word they say. Barring a global economic turnaround that rivals the late 90s, I’ll stick with my original prognostication.

    In other news. Corrupt FIFA president was reelected. He made some comment about how if he wasn’t reelected, no one would get their bonuses this year. Obama has him tagged to run the treasury.

  52. D-FENS says:

    Tell it to Bernie Madoff

    The Great Pumpkin says:
    May 29, 2015 at 12:56 pm
    You are missing his point. I totally agree with him. Rob a bank for 5,000 and go to jail for a long time. Rob millions from people’s retirement fund and nothing happens. That’s crazy.

  53. clotluva says:

    Wily,

    What year did you purchase your house in NYC?

    I know you may be an outlier, but I just don’t see too many folks under 30 with either the desire or capacity to simultaneously fast track their career; purchase a home; service their student loan debt; and start a family – without help from the Bank of Mom and Dad. Especially when shacks in the outer boroughs are going for >$650K-700K.

  54. JJ says:

    Bernie Madeoff with your money

  55. Wily Millenial says:

    Bought my nyc shack in early 2011. I’m lucky, never had student loans (I worked full-time through college and got some grants). No kids yet.

    I was working as a peon on Wall Street when the crash came. No raises, no bonuses, rents up 5% every year… couldn’t see any future in NYC at that point. Moved to a no-income-tax state, got a better job, saved every penny, and didn’t come back until I had enough to put 30% down on some dirt.

  56. Bystander says:

    Bernie performed jew on jew crime. That is met with harsh justice. Not acceptable to steal from your own people. Channeling my inner JJ.

  57. Libturd in Union says:

    There’s some truth to the J on J tip.

  58. clotluva says:

    57

    Kudos to you. I know there is some generational bashing on this blog, but my take is that every generation has its share of people who paid their dues and are truly self-made (just as they all have their share of self-entitled d*uches).

    I think as a whole, millennials have it harder than previous generations. Aside from it being more difficult to avoid student loan debt, you are competing against both Gen X’s and Boomers for job openings – and building a nest egg isn’t easy in a sustained ZIRP environment.

  59. JJ says:

    Speaking of Jews

    Q> What do you call a Jewish Girl on a Water Bed?

    Q> The Dead Sea

    Bystander says:
    May 29, 2015 at 2:27 pm
    Bernie performed jew on jew crime. That is met with harsh justice. Not acceptable to steal from your own people. Channeling my inner JJ.

  60. Libturd in Union says:

    clotluva (still love that name).

    I couldn’t agree more. For the longest time in America, the most recent generation outdid the prior when it came to quality of life. Generation Y/Millennials are most likely the first generation in over 100 years where this will not be the case. Of course there will be outliers among them, but I couldn’t imagine trying to find a job or figuring out how to pay for college today. On the bright side, this will probably the first generation in a very long time to develop strong values. Some of us were lucky enough to here the stories first hand from those who lived during the great depression or during the war rationing. Such accounts help shaped my frugality. I’m guessing the great recession will help shape the current generation’s morals, especially those born right around the turn of the century. Nothing is more powerful a teacher than what one is exposed to as children.

    My best friend, when growing up, had it made. His folks spoiled him and his younger brothers to no end. They had a Porsche, a Vette, an awesome house decorated all contemporary, the fancy built in fridge and even had a second large living room with a raised area for a band to perform on. They used to throw parties that were over the top. Until his parents got hooked on coke. Never have I seen such an empire of wealth crumble. And never have I seen kids struggle with the change in their value system. On the bright side, none of them will ever touch drugs. It’s like kryptonite to the kids now. The mother seemed to get through it pretty well too. She found a job as a clerk at Rutgers and got her three kids through the school for virtually nothing. But it was like a real life Trading Places scenario. In a strange way, it was nice seeing the kids value systems change to one that more mirrored mine.

  61. Libturd in Union says:

    Wow…should have proofread that one. Sorry for the terrible grammar.

  62. Wily Millenial says:

    I agree, we got hosed. I feel lucky that my parents raised me to be thrifty and aggressive.

    The fates of my high school graduating class, ten-ish years later, ranked by prestige:

    2% doctors
    2% lawyers
    2% engineers
    2% other specialized fields
    1% professors
    10% school teachers
    1 cop
    35% mediocre office jobs where you get your own chair
    22% temp
    10% “moved to the South” and have some job not worth mentioning
    3% still in school
    7% waiter
    3% transient
    1% RIP

  63. Wily Millenial says:

    oh and like 3 guys in the army.

  64. anon (the good one) says:

    everybody here is above average, so no surprise that you are pleased with yourself

    Wily Millenial says:
    May 29, 2015 at 3:02 pm
    I agree, we got hosed. I feel lucky that my parents raised me to be thrifty and aggressive.

  65. Wily Millenial says:

    It’s because I’m so close to NYC.

  66. Walking Bye says:

    My 1st was born in 2002. So she grew up as a “great depression kid”. Maybe she is an outlier, but she seems content with the attitude of need not want not. And though we have never hit trouble she definitely heard the wife and I discuss, as well as seen distress around us which has made her cautious in her approach to life. Refreshing compared to the spoiled brats I see around us where the divorced mom is working 2 jobs only to have the kid btch slap mom for not getting the latest I-phone.

  67. nwnj says:

    When you sit down and think about all of the f-d up things the boomers did to the follow-on generations it’s astounding.

    Just thinking of the top of my head, you could make an argument that all of the following were all intended to feather their nests while burying later generations:
    -Increasing SS age for younger workers
    -Blowing asset bubbles in every single asset class as they’re stepping out to retire.
    -Medicare part D
    -Killed practically every defined benefit pension plan after they qualified for theirs
    -Lowered capital gains taxes immorally low as they’re in the process of living off of equity assets

    There are several others that come to mind and they have pretty much blown the bridge just as they crossed. Hopefully when post boomers get in control of the political process we can undo some of the damage.

  68. Fast Eddie says:

    everybody here is above average, so no surprise that you are pleased with yourself

    That’s because we all work and pay for the Oblama supporters. Some of us accept it and some of us despise it.

  69. anon (the good one) says:

    @BarackObama:

    “Let us carry his legacy forward.”

    —President Obama on President John F. Kennedy, born 98 years ago today

  70. Ragnar says:

    49,
    Bathroom sex in El Burrito Loco is pretty risky. My hypothesis is that she wanted it in the 8ss, and mouth, and that this boyfriend had a sixth sense that spicy burritos and hot sauce in the digestive system could lead to a major burning sensation on his whangle-tool and a messy situation overall -flatulence, skid marks, etc. A google search also suggests she wasn’t especially good looking.

  71. anon (the good one) says:

    @wsjMelanie: Class of 2015 Is Summa Cum Lucky in the job market, via @WSJ

    “Class of 2015 Is Summa Cum Lucky in the Job Market
    These college grads enjoy a jobless rate below the average of the past 40 years, foretelling higher wages in the years ahead”

  72. clotluva says:

    Libturd,

    I think the economy and demographics have just kind of extended adolescence for another decade or so. 30 is the new 18. But like your friend with the coked out parents, sooner or later people are forced to wake up and see the light.

    I have a friend who got a PhD in an arcane field. Spent the better part of her 20’s to earn it (presumably she was told to “follow her passion”). Less than one year as an adjunct and now she is an executive recruiter. I don’t think anyone would say, “When I grow up, I want to be a headhunter”…but it is a useful job that pays the bills. She had her ‘aha’ moment.

  73. anon (the good one) says:

    “Refreshing compared to the spoiled brats I see around us where the divorced mom is working 2 jobs only to have the kid btch slap mom for not getting the latest I-phone.”

    anon (the good one) says:
    May 29, 2015 at 3:13 pm
    everybody here is above average, so no surprise that you are pleased with yourself

  74. anon (the good one) says:

    what’s your point?

    so, instead of a PhD kids should dream about running FIFA?

    clotluva says:
    May 29, 2015 at 4:19 pm

    I have a friend who got a PhD in an arcane field. Spent the better part of her 20′s to earn it (presumably she was told to “follow her passion”). Less than one year as an adjunct and now she is an executive recruiter. I don’t think anyone would say, “When I grow up, I want to be a headhunter”…but it is a useful job that pays the bills. She had her ‘aha’ moment.

  75. jcer says:

    58 it’s not that…..the big rule is you can only FCUK the poor and middle class, the minute you start stealing from oligarchs…. jail time is probably the best outcome. In any other capitalist country he would have mysteriously died. Madoff stole from billionaires and millionaires exclusively, the WS banks ripoff thousands of customers and make billions they get slapped with a few million dollar fine. Sometimes they throw some mid-level schmuck under the bus(rarely….Fabulous Fab?). The people Madoff stole from have the personal phone numbers of members of congress and are generally connected in very powerful ways, do you think they’d let him get away with it?

  76. clotluva says:

    anon,

    Why are you so angry?

  77. Ragnar says:

    Some people probably like being headhunters. People persons.
    It’s a good job for someone who studied a field, and is real friendly and chatty but then realized they aren’t actually good at or enjoy doing what people in their field actually do.
    JJ would probably like it.
    Imagine you studied accounting and decided it was boring, the big 4 make you travel and do long hours, the corporate finance departments make you work long hours especially around closing, and you find you prefer chatting around the water cooler rather than doing your work. But companies are always searching for accountants, headhunter hours are more flexible, and you can schmooze with accountants instead of actually doing it yourself.

  78. clotluva says:

    78 cont.

    More specifically, is your anger triggered by fear, or by shame?

  79. Ragnar says:

    clotluva,
    His mom was slow bringing the hot-pockets down to the basement.

  80. jcer says:

    74…..that isn’t a new phenomenon my wife’s mother and father both got their PHD’s in the 70’s in something with little to no commercial value…did research…worked at a university until they had kids and quickly realized that the doing what they loved was not going to support a family and back to school my father-in-law went and in his 30’s he had a new career as a software development manager, it wasn’t what he wanted to do but the pay was right.

  81. clotluva says:

    To be clear, I’m not knocking people who pursue PhD’s in arcane fields or headhunters. I’m just illustrating that at some point in life, idealistic/ignorant/sheltered people tend to become more pragmatic. Particularly if they realize they want to settle down and have a family.

  82. Ragnar says:

    Absolutely,
    I have great respect for people who take the responsibility to support themselves and their families by doing something useful. Much better than taking welfare (i.e. letting other people pay your bills) waiting for the surge in demand for ethnic studies PhD jobs to show up.

    I think people should try to be aware that degrees should be seen as a means to an end, and that end is gainful employment. (Though for some people it could be justified as “entertainment”).

    People wouldn’t take out a $100k loan to build a house they couldn’t live in, and nobody wanted to rent. But too many people are willing to borrow similar amounts to finance a degree that’s the educational equivalent of a collapsing crackhouse.

  83. The Great Pumpkin says:

    This list reads like a list of charges in a criminal case. Especially, the capital gains tax scheme policy. Definition of sticking it to everyone else.

    nwnj says:
    May 29, 2015 at 3:23 pm
    When you sit down and think about all of the f-d up things the boomers did to the follow-on generations it’s astounding.

    Just thinking of the top of my head, you could make an argument that all of the following were all intended to feather their nests while burying later generations:
    -Increasing SS age for younger workers
    -Blowing asset bubbles in every single asset class as they’re stepping out to retire.
    -Medicare part D
    -Killed practically every defined benefit pension plan after they qualified for theirs
    -Lowered capital gains taxes immorally low as they’re in the process of living off of equity assets

    There are several others that come to mind and they have pretty much blown the bridge just as they crossed. Hopefully when post boomers get in control of the political process we can undo some of the damage.

  84. joyce says:

    Of course you would highlight the tax one, and not the rest which are spending related.

    The true cost of govt is not what it taxes but what it spends (since the deficit will be imagineared into existence to pay for it)

  85. The Great Company says:

    I highlighted that one because it’s criminal for people working for an income to pay double the amount of someone who makes their money off their capital. It’s purposefully making it an unfair competition. It’s that much harder for the worker to accrue capital and compete with the individual that is paying a capital gains tax under these tax conditions. Meaning, this is purposefully increasing the odds of keeping the worker in the working class.

    You are absolutely right about govt spending. I agree.

    joyce says:
    May 29, 2015 at 6:20 pm
    Of course you would highlight the tax one, and not the rest which are spending related.

    The true cost of govt is not what it taxes but what it spends (since the deficit will be imagineared into existence to pay for it)

  86. The Great Company says:

    That’s the bottom line. An education is an investment. Don’t make a bad investment.

    Ragnar says:
    May 29, 2015 at 5:52 pm
    Absolutely,
    I have great respect for people who take the responsibility to support themselves and their families by doing something useful. Much better than taking welfare (i.e. letting other people pay your bills) waiting for the surge in demand for ethnic studies PhD jobs to show up.

    I think people should try to be aware that degrees should be seen as a means to an end, and that end is gainful employment. (Though for some people it could be justified as “entertainment”).

    People wouldn’t take out a $100k loan to build a house they couldn’t live in, and nobody wanted to rent. But too many people are willing to borrow similar amounts to finance a degree that’s the educational equivalent of a collapsing crackhouse.

  87. The Great Company says:

    Perfectly explained.

    jcer says:
    May 29, 2015 at 4:32 pm
    58 it’s not that…..the big rule is you can only FCUK the poor and middle class, the minute you start stealing from oligarchs…. jail time is probably the best outcome. In any other capitalist country he would have mysteriously died. Madoff stole from billionaires and millionaires exclusively, the WS banks ripoff thousands of customers and make billions they get slapped with a few million dollar fine. Sometimes they throw some mid-level schmuck under the bus(rarely….Fabulous Fab?). The people Madoff stole from have the personal phone numbers of members of congress and are generally connected in very powerful ways, do you think they’d let him get away with it?

  88. Fabius Maximus says:

    #25 Ben/Rags

    So Ben, the union is bad because they could not get you the money you deserved in the job you were in. The fact you were able to go out an negotiate on your own make the union bad? If you are a math teacher and your skills are in demand, then yes, school will bump you up, to hire you. That’s not a union issue.

    Is there schools that you could have gone to outside the union system (parochial), in that your salary would have actually been lower?

    Rags, and your still under the Writers Guild? Why not let the writers comment? They have more skin in that game than you do!

  89. Ragnar says:

    I left the guild job 9 years ago. One of my best career choices. And the guild didn’t save the rest of the crew from anhialation when restructuring came a few years back.

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