Shaping up to be the strongest year yet?

From CBS News:

House-hunting in 2017? You’ll need a fatter wallet

What’s on your TV? In many middle-class homes, programs about house-hunting now compete for viewers with sporting events, cooking shows and financial advice. Americans are house-hungry. And nothing proves this more than the latest figures from Black Knight’s Home Price Appreciation (HPA) index, which in March tallied its highest monthly gain in nearly four years.

“By the end of March, prices were already up 2.3 percent since the start of the year, and we hadn’t even gotten into the prime homebuying season yet,” said Ben Graboske, chief technology officer for this Jacksonville, Florida-based financial services company. The pricing “acceleration” is broad-based, with 36 out of 50 states seeing it since the year started. Spring and early summer are the biggest seasons for home buying.

Everyone agrees that home prices are rising, and that the cost of buying is increasing far faster than new homes can be built. Just two months ago, National Association of Realtors (NAR) Economist Lawrence Yun predicted a 4 percent increase in home sale prices this year. Yun has now upped his expectation to 5 percent.

Is anything wrong with this scenario? Not if you’re a home seller. The economics of scarcity is on your side. “The number of homes on the market fell yet again in April, declining another 8.7 percent from last year,” said Chief Economist Ralph McLaughlin of Trulia, which provides real estate listings and housing data. “Simply put, homebuyers are gobbling up inventory at a much higher rate than in the past. The most recent numbers show that the share of inventory that sells has climbed to 25 percent.”

Not only are homes selling faster, but new home construction hasn’t kept pace with demand. Trulia estimates that for the market to “look normal,” construction of new homes would have to double. In April, new home sales were only about 12 percent of total sales. The historical average is just below a quarter of all sales.

How far will their budgets stretch? According to Yun, income has risen 10 percent in the last five years, but housing prices have climbed 40 percent during that time. “That’s a four-to-one ratio between price and income,” he argued. “At some point, we’ll see a leveling off.”

Not immediately, said Black Knight. Even though interest rates are slowly inching upward, “homes are still affordable from a historic perspective,” said Graboske. It now takes almost 23 percent of Americans’ median income to cover the monthly cost of a median-priced home, which is still below the peak of 35 percent of income required in 2006, and not quite the pre-crisis average of 27 percent from 2000 to 2005.

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

130 Responses to Shaping up to be the strongest year yet?

  1. grim says:

    Good podcast from Knowledge@Wharton:

    Has the U.S. Housing Market Recovered? It Depends on Where You Are…

    It has been almost 10 years since the last big bubble in the U.S. housing market began to pop — the leadoff to what became the Financial Crisis and the Great Recession. In many respects, the U.S. economy has rebounded nicely from that disaster: Broadly speaking, stock indexes are setting record highs, unemployment is back in check, and consumer confidence has returned.

    The question of whether the housing market has genuinely recovered, though, is more complex. A recent report complied by real estate website Trulia reveals a wildly uneven housing recovery, in which some parts of the country are seeing prices for nearly all homes above their earlier peaks, while in other areas, most homes are still far below those levels. Nationwide, just over a third of homes have reached pre-recession prices, and the forecast is that pricing won’t fully recover until 2025. Trulia chief economist Ralph McLaughlin and Wharton real estate professor Benjamin Keys, who is also a faculty research fellow at the National Bureau of Economic Research, recently visited Knowledge@Wharton’s SiriusXM show to discuss the housing recovery.

  2. grim says:

    From NBC News:

    Who’s Powering the Housing Market? Surprise! It’s Millennials

    Millennials are growing up, settling down and looking to buy a house — for the extra room and the investment opportunity.

    Millennials were the largest group of home buyers (34 percent) for the fourth consecutive year, according to NAR’s 2017 Home Buyer and Seller Generational Trends study. By comparison, baby boomers were 30 percent of buyers.

    “That myth that millennials don’t want to own things is not true,” said Jeremy Wacksman, chief marketing officer at the Zillow Group. “Millennials are not just starting to buy homes; they’re powering the housing market.”

    Felicity Greenpalm are ready to take the next step and buy a house in Seattle.

    Saeed, a 29 year old marketing consultant, and Greenpalm, 31, who works for Nordstrom, are thinking about starting a family and that means they need more space.

    “We want a yard and a place where we can have all of our friends and family over,” Saeed told NBC News. “I feel like if we don’t do something soon, we’re going to get priced out of the market. Salaries aren’t increasing quickly enough to keep up with the pace that home prices are growing. It’s kind of now or never for us.”

    “Millennials have been fairly slow to get into the market, but we are seeing an uptick in millennial buyers this year — which is a good sign, because as home values rise, we want a wider number of people to participate in this housing recovery,” said Lawrence Yun, chief economist at the National Association of Realtors (NAR). “There’s a pent-up demand and as the economy continues to improve, we expect to see more people in their early thirties, adults who are still living with their parents — clearly not their idea of the American dream — begin to look for their own housing units.”

  3. grim says:

    Pants Up!

  4. grim says:

    American Dream Miami?

    Maybe they should finish the Xanadu first? Is there some kind of money in half-built shopping malls that I should know about?

    http://money.cnn.com/2017/06/01/news/miami-american-dream-mall/index.html?iid=ob_homepage_deskrecommended_pool

  5. Ottoman says:

    Anyone looking for a 26 room spread on the Bernardsville Mountain, but you don’t want to pay that pesky mansion tax? I got you.

    https://www.weichert.com/70390710/

  6. Ottoman says:

    Could have said the same thing about Asbury Park 10 years ago.

    American Dream Miami?

    Maybe they should finish the Xanadu first? Is there some kind of money in half-built shopping malls that I should know about?

    http://money.cnn.com/2017/06/01/news/miami-american-dream-mall/index.html?iid=ob_homepage_deskrecommended_pool

  7. The Great Pumpkin says:

    Like clockwork. 3b, still want to insult my intelligence with your claims of my analysis being nothing more than a reflection of my housing purchase? Maybe it’s time you realize that you are biased because you rent and refuse to acknowledge the return of the housing market predicted by Pumpkin how long ago (got the year right how long ago?).

    Oh yea, the quote below was exactly what I stated on here about millennials (based on millennials I know and the fact that I am one) years ago. Told you that they will buy in suburbs as soon as they have a kid or two.

    ““That myth that millennials don’t want to own things is not true,” said Jeremy Wacksman, chief marketing officer at the Zillow Group. “Millennials are not just starting to buy homes; they’re powering the housing market.”

    Felicity Greenpalm are ready to take the next step and buy a house in Seattle.

    Saeed, a 29 year old marketing consultant, and Greenpalm, 31, who works for Nordstrom, are thinking about starting a family and that means they need more space.

    “We want a yard and a place where we can have all of our friends and family over,” Saeed told NBC News. “I feel like if we don’t do something soon, we’re going to get priced out of the market. Salaries aren’t increasing quickly enough to keep up with the pace that home prices are growing. It’s kind of now or never for us.””

  8. The Great Pumpkin says:

    In reference to the opening article, the housing recovery is uneven due to what chi pointed out about the lending practices in the last bubble. The lower income areas were the areas that experienced the most price appreciation from false lending standards. So it’s only natural that they will take much longer to recover to the last peak bubble prices. The higher end of the market wasn’t driven as much by false lending standards as was the lower end/ mid tier.

    Honestly, I don’t know if the lower rungs will ever come back to the home ownership ranks, they might be renters for life. It’s far too lucrative for real estate investors in that part of the market. They will outbid those low income earners as long as the rental market remains strong. So rental income might be the main driver of home prices in the lower tier of the market. How much rent the place can earn, will determine its price. That’s what it seems like.

  9. 3b says:

    Pumps you wanker you don’t have a whole lot of intelligence to insult. I have owned and rented. You take one article about a gentleman named Saed and use that as proof that you are right. I can name twenty people I know who are not buying. And no one I know is talking about rising prices in my blue ribbony town. They are taking about rising taxes and getting out. And finally go back to Saed s comment where he says I feel if I don’t buy now I will be priced out. Well we have certainly heard that one before now haven’t we? Oh and by the way I do have a place in Florida. We will be spending our winters down there. I will not however be buying a place in broken down broke fiscally destroyed nj. If my choice was ny vs nj it would be my hands down. As I have always said your whole world view is based on the fact that you own so a house in Wayne.

  10. The Original NJ ExPat says:

    Pumps – only one end of your street road is in red during this morning’s commute.

    http://www.localconditions.com/weather-wayne-new-jersey/07470/traffic.php

  11. The Original NJ ExPat says:

    Pumpkin X. Boulevard

  12. The Great Pumpkin says:

    Yes, you have heard it before, and it won’t be the last time.

    It’s a cycle primarily based on demographic spending patterns.

    “And finally go back to Saed s comment where he says I feel if I don’t buy now I will be priced out. Well we have certainly heard that one before now haven’t we?”

  13. The Original NJ ExPat says:

    People don’t know how little you know until you open your mouth and tell them. Pumpkin comes here all day, every day just in case someone new shows up and doesn’t know yet how low processing, low bandwidth, and single-threaded he is. I guess Pumpkin’s real benefit to society is…I’m coming up blank.

    Pumps you wanker you don’t have a whole lot of intelligence to insult.

  14. Fast Eddie says:

    Millennials are growing up, settling down and looking to buy a house — for the extra room and the investment opportunity.

    Nonsense. They’re renting in Hoboken at $10 per square foot just to be close to Carlo’s Bakery.

  15. The Great Pumpkin says:

    Fiscally destroyed? Man, you worry too much. The irony, I promise you that nj will be on better financial footing than all these low tax areas building up quicker than you can blink an eye. Their costs are coming, and come they will. Going to be fun taking care of all those retired boomers will a growing school district. What can go wrong with the low tax scenario under these conditions?

    Serious question here. How much more are you really paying in taxes than these low cost states? It is it worth it based on the income produced in this location?

    “I will not however be buying a place in broken down broke fiscally destroyed nj. “

  16. The Original NJ ExPat says:

    “It’s like déjà vu all over again.

    “We want a yard and a place where we can have all of our friends and family over,” Saeed told NBC News. “I feel like if we don’t do something soon, we’re going to get priced out of the market. Salaries aren’t increasing quickly enough to keep up with the pace that home prices are growing. It’s kind of now or never for us.”/i>

  17. No One says:

    Felicity Facepalm said she had better buy now or be priced out forever. Classic.

    The other thing I learned about Millennials from this article: they are either buying houses as unmarried couples, or they marry without the woman changing her last name.
    My induction from skimming HGTV house hunting shows: about 15% of people willing to go on that show are male/male couples.

  18. 3b says:

    Pumps /wanker I am extremely versed in n j s fiscal woes. More than you might think. And that’s all I am going to say on the topic.

  19. chicagofinance says:

    Bill Clinton in the Oval Office?

    grim says:
    June 6, 2017 at 6:22 am
    Pants Up!

  20. The Great Pumpkin says:

    I have not seen one good call on your part in my years reading this blog……”I’m coming up blank.” Exactly.

    The Original NJ ExPat says:
    June 6, 2017 at 8:57 am
    People don’t know how little you know until you open your mouth and tell them. Pumpkin comes here all day, every day just in case someone new shows up and doesn’t know yet how low processing, low bandwidth, and single-threaded he is. I guess Pumpkin’s real benefit to society is…I’m coming up blank.

    Pumps you wanker you don’t have a whole lot of intelligence to insult.

  21. The Great Pumpkin says:

    So you and the 3b types tear down the poster on this blog that has been making the most on point calls about the economy and housing market.

    Keep up the good work!

  22. 3b says:

    Pumps round and round you go. In your warped think I g high taxed states good period. Forget about the waste the fraud the inefficiencies high tax great. Low tax bad. Yet when I moved to n j it was a bargain compared to Westchester in n y. Yet the taxes have gone up and the state has gone down. The taxes in my town have risen dramatically yet the services have gone down. So again you are one dimensional across the board

  23. 3b says:

    Pumps what correct call have you made on new jersey? Nothing.

  24. It is for the first that I just visited your site and I find it really interesting! Congratulations!

  25. My best congratulations for your superb site! Perfect !!!

  26. The Original NJ ExPat says:

    That’s your perception, Pumps, not reality. Your mind automatically filters out good investment ideas that involve stocks over a tenth of a penny. If you followed my advice from just 3 weeks ago you already have a 4% return before dividends of 5.2% get added on. That’s how big boys make money.

    The Original NJ ExPat says:
    May 17, 2017 at 9:50 am
    Nearly 5.2% yield on VZ right now.

    I have not seen one good call on your part in my years reading this blog

  27. The Great Pumpkin says:

    Then answer my question. Answer this question and you will realize why this state is not dying. The economy is only going to grow in this location. Too many factors feeding the economy here for it to ever die. Will it have ups and downs, of course, nothing grows in straight lines, but will it crash? ARE YOU F’EN INSANE? The property tax problem has been a problem since the early 1800’s. Has it stopped this state from growing? Enough with the bs. The location of this state is an economic jackpot. If you can’t see it for yourself, you are clearly blinded by negativity and nothing will help you to see the light.

    “Serious question here. How much more are you really paying in taxes than these low cost states? It is it worth it based on the income produced in this location?”

    3b says:
    June 6, 2017 at 9:34 am
    Pumps /wanker I am extremely versed in n j s fiscal woes. More than you might think. And that’s all I am going to say on the topic.

  28. No One says:

    Pumpkin is a legend in his own mind. I wish he never showed up, despite the occasional hilarity that comes from his stupidity and lack of self-awareness.

  29. 3b says:

    Pumps perhaps you can enlighten us further on the tax problem in nj from the 1800s? The economy has been going down here for years when is it going up? Can you enlighten us there as well? And also can you tell me why as taxes have increased services in the state and my town have declined? I am so proud when I get off my thirty year old piece of crap hand me down mta train in the morning and than walk through the beautiful state of the art transportation hub known as Hoboken terminal. Yes pride in just watching the state fall apart across the board.

  30. D-FENS says:

    Happy D-Day

  31. The Original NJ ExPat says:

    It would have to be a very, very small legend or else it wouldn’t fit.

    Pumpkin is a legend in his own mind

  32. leftwing says:

    “Millennials were the largest group of home buyers (34 percent)…baby boomers were 30 percent of buyers.”

    God, superficial analysis bothers me. No look behind the numbers whatsoever followed by a single anecdotal story as support. Followed, like clockwork, by robust support from Pumps.

    So let me get this straight….the fact that the generation in its prime home buying years (Millennials) is buying homes at about the same rate as a generation that ranges in age from 53 years old (kids out of the house) to 75 years old (dead, nursing home, etc) is POSITIVE?

    Especially when the Millennials are generally considered to have a greater population count than the Boomers? Really?

    Garbage analysis. Pumps, you would last all of 32 seconds as a “financial analyst” in any firm where that job is a profit, not cost, center.

  33. The Great Pumpkin says:

    Okay, let me try this again. Why are most of the wealth producers attracted to high taxed states? Why are the majority of businesses located in high taxed states as opposed to low tax states? Why are people competing with each other and driving up the cost of real estate in high cost areas as opposed to low cost areas?

    Based on your way of thinking, how the hell does sf and nyc exist if they are so much more expensive than everywhere else? Please explain. Shouldn’t everyone be running to the low tax area/low cost of living area? Why are they not? Only people I know moving to low cost areas are the ones who can’t make it in the high cost of area due to a lack of education and skills.

    The anomaly is the highly educated/highly skilled individual going from a high cost area to a low cost area…..now why? Please explain.

    3b says:
    June 6, 2017 at 9:39 am
    Pumps round and round you go. In your warped think I g high taxed states good period. Forget about the waste the fraud the inefficiencies high tax great. Low tax bad. Yet when I moved to n j it was a bargain compared to Westchester in n y. Yet the taxes have gone up and the state has gone down. The taxes in my town have risen dramatically yet the services have gone down. So again you are one dimensional across the board

  34. chicagofinance says:

    FREEHOLD BOROUGH – Freehold High School could have the distinction for employing the worst school psychologist in the state; the guy is now fired. One distraught student, whose girlfriend dumped him, received this counseling: Your ex is a “s^t” who is “b^nging other guys.” But, to make the kid feel better, the psychologist added the teen would “F-40 girls” once he got to college. The psychologist also has some favorite book recommendations, such as the profanity-laced book, “F*ck Feelings: One Shrink’s Practical Advice for Managing All Life’s Impossible Problems.” NJ.com reports the psychologist – with a doctorate from NYU – often cursed and yelled to the point where colleagues worried for student safety. They even ordered him to take a drug test, thinking maybe he’s on steroids. Results were negative. The former employee denies it all.

  35. The Great Pumpkin says:

    Busting my balls, but you just don’t get it. This is what most of my predictions were predicated on…..demographic spending patterns. Two largest groups in our population, millennials and baby boomers, are about to buy and sell houses for the next 10-15 years as they go into the next spending patterns for each age group. Do you know what kind of impact this has on our economy and housing market? But no, it’s not positive, only a pessimist would think this way.

    “So let me get this straight….the fact that the generation in its prime home buying years (Millennials) is buying homes at about the same rate as a generation that ranges in age from 53 years old (kids out of the house) to 75 years old (dead, nursing home, etc) is POSITIVE?”

  36. Bystander says:

    More main article jerk material for blumpkin. C’mon grim. Numbnuts ignores this part of article. Millenials with no kids making 200k combined think they are elite now..but kids come and then they will realize that daycare, toys, entertainment, clothes, food, diapers, formula etc will eat away a huge portion of after tax dollars. Sh$t, I will spend $200 on presents for 5 kids parties in this month. These kids are overpaying for a house and wages are going nowhere despite media fluff pieces. They won’t realize until too late.

    “According to Yun, income has risen 10 percent in the last five years, but housing prices have climbed 40 percent during that time. “That’s a four-to-one ratio between price and income,” he argued. “At some point, we’ll see a leveling off.”

  37. Phoenix says:

    Bystander,
    Also, many are waiting much longer to get married and have children. I get the thing about the parties also, I have 2 on Saturday alone…

  38. 3b says:

    Pumps why have all the industries that made n j great gone? Some because of consolidation others because they became obsolete. What of the rest. What businesses are coming to n j because they love our high tax state? We have back office jobs in Jersey city but many firms are moving back office operations to Salt Lake. Are you really proud of our state when you can literally see the physical decline of the infrastructure? Do you smile with pride when you get your yearly property tax increase? Do you just breathe a deep sigh of satisfaction knowing we have the second lowest state credit rating in the country?

  39. Randolph Reddington says:

    Leftwing, if Millenials are buying at almost the same rate of boomers there could be several reasons.

    1. If Boomers are selling, Millenials are buying. And if the Boomer is buying, it’ll probably be downsizing.

    2. At this point it could be equal, but as housing starts increase and boomers die/downsize, the Millenials will probably take the lead.

  40. Randolph Reddington says:

    I’m still lost at the mentality of this blog. If a couple with 2 kids NEEDS over 200k to own a decent home, what in the world will the other 75% of the state’s population do to support housing?

    I just can’t see how people can’t make 200k work

  41. 3b says:

    Randolph the millennial will take the lead perhaps if they have the means. The baby boomers many who are selling because of high taxes want top dollar for houses in many cases that have not been touched I. 30 years. And with high property taxes.

  42. The Great Pumpkin says:

    You def provide good stock calls.

    The Original NJ ExPat says:
    June 6, 2017 at 9:48 am
    That’s your perception, Pumps, not reality. Your mind automatically filters out good investment ideas that involve stocks over a tenth of a penny. If you followed my advice from just 3 weeks ago you already have a 4% return before dividends of 5.2% get added on. That’s how big boys make money.

  43. leftwing says:

    “Why are most of the wealth producers attracted to high taxed states?”

    They aren’t dingleberry. They are attracted to areas of wealth creation, and from there seek out the best locale to live based on their preferences which may include lifestyle, family, costs, etc.

    As other posters have noted NJ’s prior benefits are have rapidly diminished on a relative basis. Past performance is no guarantee of future results.

    “Wealthy NJ” exists solely as a function of NYC. Most of NJ outside of the NYC sphere of influence looks demographically indistinguishable from the TexArkana areas you so like to disparage.

    Those attributes that created “wealthy NJ” are diminishing on a relative basis, not growing – the decline locally of the suburban office HQ, ease of transportation, tax burden (income and property), housing costs, school quality.

    Worse, there are some serious Achilles heels.

    The COAH settlement hasn’t yet worked its way through to the local level. To the extent you still have a ‘community’ and especially one with a ‘good’ public school district, look out below for a low income influx and classroom crowding with lower than median new students.

    The State is bankrupt once one accounts for the pension obligations. Deny and contort all you want but simply peruse the credit ratings. That time bomb can only be swept under the rug for so long and other states (including competing states neighboring the NYC wealth creation engine) don’t have that albatross around their neck.

    Lastly, as I’ve argued before, the idea of better schools is a chimera. People flock to the SL/NJ Monthly rankings like lemmings without any idea (until college application time) of what they actually mean. Have you looked at the methodolgy? Let’s see a ranking where the methodology is college placement, comparing the accepted students’ GPA/scores to the incoming college class GPA/scores. In other words, show me the NJ schools that are punching above their weight and placing NJ students in colleges they may otherwise be challenged to attend. And, for full transparency, include the privates and magnets. Run that analysis and the current ‘hot’ towns fall from number 1-5 rankings to 20 or 30 something. Look out below for those real estate values then.

    Anyway, it took an extended period for NJ to move from underdeveloped swamp and farm land to an area that competed on a home price basis with established areas in NY/CT. It similarly won’t unwind overnight. But don’t kid yourself, NJ’s arrow is pointing down, not up, relative to its metropolitan peers and out of area alternatives.

  44. The Great Pumpkin says:

    Guess who will be the new and shiny state in 20 years? Not the south. It’s all a cycle buddy.

    Does the stock market rise in a straight line? So why should a state economy? Businesses rise and fall, that’s a given. If you understand all this, you will understand nj will have its ups and downs, but it will always rise in the long term due to its location. It’s really as simple as that, whether you want to acknowledge it or not. It’s like using an etf fund that tracks the s&p 500. You don’t know what will happen year to year, but you know that in say 20 years, the economy will be much larger, hence, your money will grow if it tracks this. Apply the same idea to nj. It’s a winner long term based on it’s location. Simple as that.

    3b says:
    June 6, 2017 at 10:47 am
    Pumps why have all the industries that made n j great gone? Some because of consolidation others because they became obsolete. What of the rest. What businesses are coming to n j because they love our high tax state? We have back office jobs in Jersey city but many firms are moving back office operations to Salt Lake. Are you really proud of our state when you can literally see the physical decline of the infrastructure? Do you smile with pride when you get your yearly property tax increase? Do you just breathe a deep sigh of satisfaction knowing we have the second lowest state credit rating in the country?

  45. The Great Pumpkin says:

    And I shouldn’t refer to nj, as in the whole state, I’m speaking clearly of the places located within commutable distance to nyc and philly, and i’m also talking about the coasts. West Jersey and rural South Jersey will prob not change much.

  46. The Great Pumpkin says:

    So the state will just die? Life finds away. Once again, the pension obligation does not have to be payed back all at once. So don’t make it seem like the sky is falling and there is no hope. Conservatives love to throw out the total pension obligation and act like the sky is falling, but they forgot that the money has to be paid in payments over DECADES, not one single payment like they make you believe.

    “The State is bankrupt once one accounts for the pension obligations. Deny and contort all you want but simply peruse the credit ratings. That time bomb can only be swept under the rug for so long and other states (including competing states neighboring the NYC wealth creation engine) don’t have that albatross around their neck.”

  47. 3b says:

    Pumps 11 20. God you are delusional. The only thing that is simple is that you are a simpleton.

  48. 3b says:

    Left wing. Great analysis but the simpleton will continue to refuse to acknowledge it. Lots more low income housing coming to a north jersey town soon.

  49. leftwing says:

    “Guess who will be the new and shiny state in 20 years? Not the south. It’s all a cycle buddy.”

    Are you for real? Have you actually spent time anywhere else recently?

    In the last few months I’ve had more than a few days each in the suburbs of Dallas and Nashville. Not my particular flavor (maybe Nashville) but do you understand what is going on down there? These suburbs are modern to today’s standards and purpose built to today’s lifestyles.

    Suburbs up here are 50+ years old. They are built out. There is no space to do anything new or change anything to today’s tastes. The infrastructure here in some cases is a century old. How many times a week does the train tunnel need to shut down or a water main in Hoboken explode? NJ’s metro suburbs shiny and new relative to the South in 20 years??! Yeah, pencil me out the funding for that one given the State during this eight year boom can’t even cover current expenses, and then make it work with this imaginary money from a construction and zoning perspective.
    You truly are mad.

  50. Bystander says:

    Raymond,

    I ponder that everyday. I have worked my rear end off to be able to support 4 person family on one income. We survive on a good chunk less than 200k but I saved for years get my mortgage balance to manageable level. Run the numbers – 40% gone from taxes, health costs, retirement, commute etc. Let’s say 10k per month take home. Take out 4k to mortgage and taxes on decent home. Car payments and insurance, probably 1k month. Already down to 5k. Grocery and baby stuff, maybe 1k. Daycare for one kid, close to 2k. You are now down to 2k left. Utilities and car gas, $500 per month if frugal. You now have $1500 for student loans, clothes, eating out, gifts, entertainment, medical co-pays, home improvement, home furnishings, dry cleaning, cleaning services, lawn services etc, etc, etc. That money is gone, baby, gone. People with little ambition or education will be in destitute areas and/or live in inescapable debt. Those in good areas will compete to survive though have no personal savings. Small businesses and out of touch retailers will find it hard to compete for precious extra money in consumer pocket.

  51. Bystander says:

    Sorry, Randolph.

  52. 3b says:

    Left he truly is mad! I have to agree the suburbs of Nashville are beautiful. Many of the older north jersey suburbs are falling apart seeing more and more graffiti around here too. Something I had never seen before.

  53. The Great Pumpkin says:

    I made the shiny and new statement because that is exactly what will happen. What do you think happened to the south or places like nashville that you speak of? They were old and rundown while the northeast suburbs were being built. Now the opposite will happen. Most of northeast nj will become shiny and new as these new “it” places in the south and midwest start to age. It’s all cycles.

    NYC at one time was new, then run down, and now it’s back. Same thing with hoboken. Same thing with jersey city. The entire gold coast of nj was at one point a dump, but what’s happening now? Your type claimed the gold coast was dead 20 years ago, but what happened?

    Apply this to any good location. Detroit was dead, guess what’s happening there now starting with the downtown. Oh my, they are rebuilding it. Any of the “it” cities in the south or midwest were dead, then they rebuilt it and they are now desirable again. It’s a life cycle.

    “Are you for real? Have you actually spent time anywhere else recently?

    In the last few months I’ve had more than a few days each in the suburbs of Dallas and Nashville. Not my particular flavor (maybe Nashville) but do you understand what is going on down there? These suburbs are modern to today’s standards and purpose built to today’s lifestyles.”

  54. Hillary's Cankles are ground zero for Zika virus says:

    ” seeing more and more graffiti around here too.”

    I’ve noticed that too. Even in some prestigious neighborhoods.

  55. leftwing says:

    Last reply to Pumps, then I’m going to go and do something more pleasurable like stick pencils in my eyeballs.

    The Southern suburbs I am referencing are NEW. Not rebuilt, which is nearly impossible to do in a built out area. Virgin land. New roads. Building pads in place waiting for construction.

    Excluding a handful of waterfront buildings Hoboken (where I lived happily and still frequent) was and is a dump. Same with Jersey City. Changing from a shipping terminal to a bunch of subdivided cubbyholes in railroad flats is not shiny and new.

    I am not disputing that “wealthy NJ” values have gone up – it’s factually correct. And values may continue to go up short term. My point is different.

    Big picture NJ is trending down, relative to its metro NY peers and other geographies. Housing in “wealthy NJ” is now based on someone else taking you out at a higher price not any concept of intrinsic value. It is no different than tech stocks in 1999. And it works, until it doesn’t anymore. Know why you are invested in something be it a stock, house, or lifestyle, and know your exit criteria.

  56. The Great Pumpkin says:

    I’m not trying to be insensitive, but your problems are solved overnight if your wife gets a job. Not the answer you want to hear, but your life is fine. When you can’t put food on the table, or keep the lights on, then you have a problem. Yes, you can’t really save, but you still get a better lifestyle than most (only 1 person works in your family). If you want to save, downsize to some low cost area in your state (aka ghetto), and save the money for five years and then move back on up to the safer neighborhoods.

    “Raymond,

    I ponder that everyday. I have worked my rear end off to be able to support 4 person family on one income. “

  57. The Great Pumpkin says:

    This state has been in an 8 year boom period? I thought you and others claimed the exact opposite in which I tried to explain to you guys that we are going through a transitional period and the boom will come. So which is it? I def would not agree that we have gone through a “boom” period in the past 8 years. We are going through the hard times to get to the boom period which is the 2020’s. The state has a tax revenue of 34 billion, so it’s not dead, and the state will only get stronger as these infrastructure investments start to go to work.

    “Yeah, pencil me out the funding for that one given the State during this eight year boom can’t even cover current expenses, and then make it work with this imaginary money from a construction and zoning perspective”

  58. The Great Pumpkin says:

    And in 15 to 20 years they will have to be rebuilt again with their shoddy cut corners construction jobs.

    How did NYC get rebuilt? No new land, and it was done, so why are you so ignorant to Jersey rebuilding? Houses and buildings don’t last forever(the way they are built today), eventually they all have to be rebuilt.

    Nj is going to have a lot of economic activity that is created from rebuilding northeast nj. Most of it will be privately financed, so I don’t know why you are questioning where the money will come from when it will come from investors looking to profit.

    Northeast nj will look totally different in 30 years. No doubt in my mind.

    “The Southern suburbs I am referencing are NEW. Not rebuilt, which is nearly impossible to do in a built out area. Virgin land. New roads. Building pads in place waiting for construction.”

  59. D-FENS says:

    Maybe pumps is right. Things might start looking up once we strike oil.

    http://www.njspotlight.com/stories/17/06/05/trump-administration-opens-way-to-drilling-for-oil-gas-off-atlantic-coast/

    The Trump administration yesterday opened a path to drill for oil and gas off the Atlantic coast, a step conservationists thought they had blocked last year.

    In a notice to be published today, the National Fisheries Service is proposing five permits to allow companies to conduct seismic surveys with air guns, a technology used to explore for oil and gas.

  60. LurksMcGee says:

    With everyone understanding the state of affairs, does anyone think that a candidate in this primary will be able to make a meaningful change for the better?

  61. The Original NJ ExPat says:

    Pumps has never left Passaic County, that’s why he thinks Wayne is a tier 1 town.

    Are you for real? Have you actually spent time anywhere else recently?

  62. Bystander says:

    My life is fine, d!ldo. Don’t need you preaching to me about moving to ghetto to save. I buy used cars, do my own home maintenance, cleaning and ironing. Brew my own coffee each morning and try to take lunch to work. I can save because I don’t throw it away on BS like full service cable but I am rarer breed compared to others. I am also have two children, no family members in jail and live on dead end street – things I doubt you understand.

  63. The Original NJ ExPat says:

    Interesting.

    [O]ne of the reasons for the long-running Syria proxy war was nothing more complex than competing gas pipelines, with Qatar eager to pass its own pipeline, connecting Europe to its vast natural gas deposits, however as that would put Gazprom’s monopoly of European LNG supply in jeopardy, Russia had been firmly, and violently, against this strategy from the beginning and explains Putin’s firm support of the Assad regime and the Kremlin’s desire to prevent the replacement of the Syrian government with a puppet regime.

    http://www.zerohedge.com/news/2017-06-06/forget-terrorism-real-reason-behind-qatar-crisis-natural-gas

  64. Fast Eddie says:

    So, it seems like a lot of you guys are convinced that North Jersey is doomed? Our 150 years of progress is done? I’m not siding with anyone, I’m just pondering.

  65. 3b says:

    Pumps off the rails again today. He knows it so he sends his imaginary friend lurks in to change the conversation.

  66. 3b says:

    Fast. Yes I do. The state is doomed. Nothing to me to suggests otherwise. It’s why It’s the main reason I did not buy here again.

  67. The Great Pumpkin says:

    I know you are not taking sides, but that is my point exactly. Why in the world would this location be done, when it has only gotten stronger and stronger with time. Jesus, do people realize how much the price of land has shot up in this area in the past 150 years, and you are telling me it’s going to die? Wtf made the land so valuable in the first place? It’s the got damn location, plain and simple. NYC metro area WILL NOT HAPPEN anywhere else in our country, it’s unique due to its location. This area didn’t just become the densest area in our country for no reason, but yea, northeast nj is dead.

    Fast Eddie says:
    June 6, 2017 at 1:12 pm
    So, it seems like a lot of you guys are convinced that North Jersey is doomed? Our 150 years of progress is done? I’m not siding with anyone, I’m just pondering.

  68. The Great Pumpkin says:

    And 3b, I swear I do not know who Lurks is. It is not me, I swear.

  69. D-FENS says:

    I honestly do not know why any of them want to be governor. The last few that had the job don’t have much of a career anymore.

  70. 3b says:

    Yeah pumps it has gotten stronger. That’s why the state is dying.

  71. The Great Pumpkin says:

    Not only NE Jersey/NYC, but all major mature developed areas need new infrastructure. And here it is, like clockwork, the calls to invest and rebuild these areas exactly like I stated earlier today to lefty.

    “Lloyd Blankfein urged the U.S. to spend more on infrastructure to keep from falling further behind other industrialized nations, joining similar calls from JPMorgan Chase & Co. Chief Executive Officer Jamie Dimon.

    “Arrived in China, as always impressed by condition of airport, roads, cell service, etc.,” the Goldman Sachs Group Inc. CEO said in a tweet Tuesday. “U.S. needs to invest in infrastructure to keep up!”

    Blankfein’s message — his third-ever tweet — echoed remarks from Dimon, who said the neglect damages economic growth. “I just came from Hong Kong — I mean, it’s embarrassing,” Dimon said in a Bloomberg Television interview Monday in Beijing. “America, the can-do nation, should get back to building and constructing.””

    https://www.bloomberg.com/news/articles/2017-06-06/blankfein-joins-dimon-s-call-for-bigger-u-s-infrastructure-push

  72. The Great Pumpkin says:

    This sounds about right.

    “Experts pooh-poohed this conspiracy talk, pointing out how disparate the U.S. election system was and what a massive clandestine effort would be required to subvert it. In Moscow, there were people telling President Vladimir Putin that Clinton had all the levers (financial and intelligence service contacts) to falsify a vote. Whether or not Putin agreed, he would have had a lively interest in checking whether Clinton, whom he has long hated, won the election fraudulently. One way to find evidence of fraud would be to watch electoral rolls — for example, for the sudden inclusion of large numbers of additional voters. Reading the emails and computer files of local election officials for signs of a rigging conspiracy would have been helpful, too.

    In other words, hacking VR Systems and the local officials would have been much more useful to the GRU if it had been conducting an intelligence operation to detect pro-Clinton fraud than if it had been planning to rig the election.”

    https://www.bloomberg.com/view/articles/2017-06-06/the-leaked-nsa-report-is-being-read-backward

  73. Nomad says:

    Pumpkin here is an article you might find of interest

    http://www.bain.com/publications/articles/spatial-economics-the-declining-cost-of-distance.aspx

    NJ may not dry up and blow away, but if some things don’t change, the place will continue to deteriorate. If wages remain stagnant and homes & taxes continue to increase, the math won’t work.

    Ask your friends how much of a pay cut would they take to be able to work at home as long as they lived within a 1 hr drive from work. Repeat same question and say 90 minute drive from work, within 200 miles, 400 miles…

    The price of maintaining office space in the NE ain’t cheap and in NYC, well you know. Look at the top 100 professional service firms with NYC HQ, behind payroll, the next biggest nut is rent. Google docs let you collaborate real time from anywhere and in five years, it will be obsolete with something newer, better and faster. Distance ain’t what it used to be.

  74. No One says:

    Tip to employers: don’t hire long time financial analysts or would-be economic consultants who don’t know that the past tense of pay is “paid”.

    Pumpkin wrote:
    “Once again, the pension obligation does not have to be payed back all at once.”

  75. No One says:

    Everything I’ve heard so far suggests that there’s no candidate for NJ governor to get excited about. Anyone care to argue differently and convince me to vote today?

  76. Bystander says:

    Nomad,

    Blumpkin is too stupid to understand that the short term Gold Coast sugar rush has been fueled by nearly 5.3 billion in tax incentives that NJ been handing out to corporations like candy. JPM sending jobs to JC two years ago has fueled another bubble but mark my words, in 6 years all these companies with 10 year tax deals with start clamoring again and NJ won’t be in a financial position to compete. They will pull up and ship out to lower cost areas. It is merely a speed bump on changing Corp landscape for cheaper and greener pastures. He thinks being close to NYC makes a difference. It will not. Only need small executive presence. The rest will be shipped to best tax location.

  77. Hillary's Cankles are ground zero for Zika virus says:

    I’m not voting today. This state is screwed either way.

  78. D-FENS says:

    Timing is everything

    Ex-intel contractor sues Comey, alleging FBI covered up mass civil liberties violations
    by John Solomon and Sara Carter

    http://circa.com/politics/accountability/james-comey-sued-by-intelligence-contractor-dennis-montgomery-over-spying-on-americans

    A former U.S. intelligence contractor has sued fired FBI Director James Comey and other current and ex-government officials, alleging the bureau has covered up evidence provided to agents showing widespread illegal spying on Americans.

    The suit, filed late Monday night by Dennis Montgomery, was assigned to the same federal judge who has already ruled that some of the National Security Agency’s collection of data on Americans violates the U.S. Constitution’s Fourth Amendment, setting up an intriguing legal proceeding in the nation’s capital this summer.
    1 of 10
    Documents obtained by Circa outside of the lawsuit show that the U.S. attorney’s office in Washington in 2015 approved a grant of limited immunity for Montgomery so he could explain how he managed to walk out of his contract work for several U.S. intelligence agencies with 47 hard drives of highly classified documents — a security breach potentially larger than Edward Snowden’s leak.

    The documents show FBI agents interviewed Montgomery on videotape for several hours and collected the 47 hard drives.

  79. Lurks McPhee says:

    North Jersey is done. If you live in Bergen County you can sit tight until Passaic County starts to look like Northern Morris County and Sussex starts to look like Stroudsburg. When that happens it’ll be time to cue New York State of Mind. I expect the smart 50 somethings currently living in BC will be living in NYC or Costa Rica within 15 years, depending on finances.

  80. The Original NJ ExPat says:

    Ruh-Roh!

    Timing is everything

    Ex-intel contractor sues Comey, alleging FBI covered up mass civil liberties violations
    by John Solomon and Sara Carter

    http://circa.com/politics/accountability/james-comey-sued-by-intelligence-contractor-dennis-montgomery-over-spying-on-americans

  81. Fast Eddie says:

    I expect the smart 50 somethings currently living in BC will be living in NYC or Costa Rica within 15 years, depending on finances.

    Interesting. I think more and more that within 10 years from now, I will get a crib in Manhattan.

  82. Xolepa says:

    We here in Hunterdon don’t need any new infrastructure. We keep the riff-raff out that way. No sewers, no street water. In fact, the local freebie rag around here has a heavy advertiser – wood fired hot water heaters. They look like sheds.

    Ahole Corzine once tried having them outlawed. The farmers and Warren rednecks put an end to that idea.

  83. 3b says:

    Fast if your choice is Bergen or NYC. It’s NYC in my opinion.

  84. No One says:

    I prefer living and working outside of the Manhattan nuclear explosion blast radius. That eliminates both NYC and Bergen county.

  85. fuzzy portmanteau says:

    ha ha ! Jersey has an erection today.

  86. LurksMcGee says:

    1. 2 letters does not make a new Lurks

    2. I’m definitely not made up.

    3. I didn’t want to change the subject, I just figured it would be more productive.

    Also, there’s times you guys start sounding like you’re trolling Pumps. For the most part, you guys sound like the every 7 year demographics that says SNL is terrible. Its only terrible because the phase that you’re in.

    Example: “NJ is done” should really be read as “I’ve outgrown the things happening in NJ”

    Each of you did exactly what Pumps has discussed and now you’re getting to the phase where you consider a lower COL on the horizon. You worked hard, earned WAY more money being in the NE while dealing with a high COL, (hopefully) managed to save a substantial amount, and now see that it can’t be sustained/retired upon so you’re looking at ways to make your dollar go further.

    Businesses do it. People do it. And for everyone of you thinking about a way out, there’s a brand new set of people (millennials most likely) looking for a way in.

    -end rant

  87. The Original NJ ExPat says:

    Eddie is already moving in the right direction, he moved from Clifton to (redacted:-) in BC a couple years ago.

  88. The Original NJ ExPat says:

    I freely admit that he is my favorite fidget toy. I just give him a little spin and he rotates for hours and hours. Good bearings I guess.

    Also, there’s times you guys start sounding like you’re trolling Pumps.

  89. The Original NJ ExPat says:

    And, as I’ve said before, his wife pays me by paragraphs of post just to keep him out of sight, out of mind from the normal part of the family. Every 4 hours of time he spends posting here is 4 hours that human beings within his physical radius are not damaged.

    It’s the easiest part-time gig ever, plus I love my work.

  90. The Original NJ ExPat says:

    Not me. I left in ’87 for quality of life and surprisingly found equal salary with better benefits and vacation, better services, and lower property taxes in Boston. My observation is that nobody ever says, “I’ve had enough of this place. I’m going to pick up and move to New Jersey.” You can substitute a lot of other places in that sentence, but New Jersey is never one of them. Jersey people start out there and stay too long (or forever, same thing) or marry someone who brings them there. I get that it’s close to everything, I lived there for 36 years. But…if you really think about it, it’s the same thing as saying “It’s close to a lot of the other places I’d rather be.”

    Each of you did exactly what Pumps has discussed and now you’re getting to the phase where you consider a lower COL on the horizon. You worked hard, earned WAY more money being in the NE while dealing with a high COL, (hopefully) managed to save a substantial amount, and now see that it can’t be sustained/retired upon so you’re looking at ways to make your dollar go further.

  91. The Original NJ ExPat says:

    Whoops. Left in ’96, not ’87.

  92. The Original NJ ExPat says:

    And, truth be told, I moved to Long Island for money in ’96. After that we left for New England in ’97.

  93. LurksMcGee says:

    Young people make that statement as their 2nd choice to New York when they see their earning potential climbing on the horizon. Sure its not NY, but its close to things where they can earn more than some podunky place.

    My observation is that nobody ever says, “I’ve had enough of this place. I’m going to pick up and move to New Jersey.”

  94. 3b says:

    Lurks/ pumps not exactly. I came to new jersey because it was a compelling alternative to new York. Yet still close to NYC that compelling narrative no longer exists . And the taxes are at their highest with no end in sight. I could stay here as could others. If it was just expensive it would be one thing. But it is expensive and falling apart.

  95. 3b says:

    Lurks except it appears many millennial s don’t appear to want to get in here. If millennial s are getting married later and having children later there is no particular need or want to live in the north jersey of strip malls and olive gardens.

  96. Essex says:

    As of today I am no longer a homeowner in NJ. A young couple has decided to pick up the torch and run with it making them owner #3 since the house was built in 1953.

    I put a lot into the house, but made it out whole and with a little something for my troubles. My advice? Don’t go too deeply into the red on these places. Yeeeeeesh. I feel lucky to have escaped whole on this one, but we live and learn. Seems like we picked the right time to sell.

    Over the past 16 years we’ve seen a lot unfold, and as someone who just left the region and passed into countryside unfamiliar though I understand desirable, I can only say nice things about New Jersey in the rearview. The access to NYC is a real deal and NYC is special. So keep the homefires burning folks!

  97. The Great Pumpkin says:

    Here is my take on this. The “it” locations will still be the places to be. The “it” places are all the metro areas located on the coasts. The coastal metro areas will only go up in demand esp sf, southern cali, and nyc. Those places are the ultimate locations and will only go up in value. They represent the highest clusters of real estate values in the country for a reason, and it will continue into infinity based on what these locations offer.

    Places that I see getting killed by this spatial economics are places landlocked like Atlanta. They are going to hurt if this movement indeed happens. Location is nothing special, that can’t be had further out.

    Nomad says:
    June 6, 2017 at 2:38 pm
    Pumpkin here is an article you might find of interest

    http://www.bain.com/publications/articles/spatial-economics-the-declining-cost-of-distance.aspx

    NJ may not dry up and blow away, but if some things don’t change, the place will continue to deteriorate. If wages remain stagnant and homes & taxes continue to increase, the math won’t work.

  98. The Great Pumpkin says:

    I type really fast and do not proof read. I make numerous common mistakes on the regular. Time is of the essence and I post enough to not have time to proofread. It is what it is.

    No One says:
    June 6, 2017 at 3:00 pm
    Tip to employers: don’t hire long time financial analysts or would-be economic consultants who don’t know that the past tense of pay is “paid”.

    Pumpkin wrote:
    “Once again, the pension obligation does not have to be payed back all at once.”

  99. The Great Pumpkin says:

    This is the part that you seem to miss. They only ship the low and mid level jobs. The top level jobs have to be in this location, those people won’t live anywhere else. They get what they want. Go ahead, try setting up in a low cost location, no top level talent will come. They won’t live there. Of course, there are exceptions, but we are speaking in majorities, not isolated incidents.

    Bystander says:
    June 6, 2017 at 3:09 pm
    Nomad,

    Blumpkin is too stupid to understand that the short term Gold Coast sugar rush has been fueled by nearly 5.3 billion in tax incentives that NJ been handing out to corporations like candy. JPM sending jobs to JC two years ago has fueled another bubble but mark my words, in 6 years all these companies with 10 year tax deals with start clamoring again and NJ won’t be in a financial position to compete. They will pull up and ship out to lower cost areas. It is merely a speed bump on changing Corp landscape for cheaper and greener pastures. He thinks being close to NYC makes a difference. It will not. Only need small executive presence. The rest will be shipped to best tax location.

  100. The Great Pumpkin says:

    You are just so mad that you had to leave. I get it. Not everyone can make it in this area, we get it. Some have to run to low cost locations.

    Lurks McPhee says:
    June 6, 2017 at 4:33 pm
    North Jersey is done. If you live in Bergen County you can sit tight until Passaic County starts to look like Northern Morris County and Sussex starts to look like Stroudsburg. When that happens it’ll be time to cue New York State of Mind. I expect the smart 50 somethings currently living in BC will be living in NYC or Costa Rica within 15 years, depending on finances.

  101. The Great Pumpkin says:

    What a great post. Someone gets it! What a relief. So glad you started posting. Now I get to hear these posters accuse me of writing under your name. Too smart for their own good.

    You hit the nail on the head with that SNL analogy. They are all getting close to retirement age, and their bias reflects it. I’m a millennial, I think I know a thing or two about my generation. Yet, these guys fight me to the end on it and then troll me to death.

    I’m sorry that they don’t understand this location is just as lucrative, hell I would argue more lucrative today with all the good union jobs in the low cost areas of middle america gone, as when they came here. Lefty left upstate ny and came to nj for a reason. The same reason still applies today, more than ever. If you want to make big bucks, you have to come here or the other few areas of our country that can provide that. It’s not rocket science, folks!

    LurksMcGee says:
    June 6, 2017 at 5:10 pm

  102. The Great Pumpkin says:

    Bingo! We have a winner! Someone gets it!

    LurksMcGee says:
    June 6, 2017 at 5:55 pm
    Young people make that statement as their 2nd choice to New York when they see their earning potential climbing on the horizon. Sure its not NY, but its close to things where they can earn more than some podunky place.

  103. The Great Pumpkin says:

    You are beyond biased. Dude, the same reason you came here, is the same reason Montclair real estate is on fire right now. Who the hell do you think is moving into nj? You just don’t get it, and I’m afraid that you never will.

    How many times have people ripped on Montclair for their taxes on this blog? Jeez, those high taxes are really stopping people from driving up the price of real estate in Montclair. You just don’t get it.

    3b says:
    June 6, 2017 at 7:23 pm
    Lurks/ pumps not exactly. I came to new jersey because it was a compelling alternative to new York. Yet still close to NYC that compelling narrative no longer exists . And the taxes are at their highest with no end in sight. I could stay here as could others. If it was just expensive it would be one thing. But it is expensive and falling apart.

  104. 3b says:

    Pumps You are wrong they are shipping lots of high paying jobs to locations Luke salt lake to name just one. In fact your type of so called analytical position would be a prime candidate.

  105. 3b says:

    Pumps forget your retirement crap and that’s why we want to leave. No it’s simply the fact that we have seen a once great state fall apart and decline rapidly. It has nothing to do with being close to NYC. You are constantly called out here because of your incessant babbling on about nonsense.

  106. The Great Pumpkin says:

    I’m voting for Murphy. It’s time for the “Murphy Era” of leadership to take hold and guide this economy into the future. We are in good hands if he gets elected and don’t give me that crap that he is another Corzine…..try a little harder. He has some good ideas and seems like a guy that can get things done in a professional manner unlike Christie or Trump who must resort to bullying tactics to get a vote. We need vision and a politician that can get it done, this guy is Murphy for me.

    Anyone that supports the behavior of Trump or Christie; I hope your daughter or son marry someone with the same manners. Enjoy!

  107. The Great Pumpkin says:

    How many high level professionals want to raise their family in morman country? Give me a break with your bs.

    3b says:
    June 6, 2017 at 8:59 pm
    Pumps You are wrong they are shipping lots of high paying jobs to locations Luke salt lake to name just one. In fact your type of so called analytical position would be a prime candidate.

  108. 3b says:

    Yeah pumps Montclair is on fire blah blah Wayne will be on fire too. It’s coming. High taxes are great! Low cost equals ghetto and on and on you go! Oh and cycles pumps and his cycles and we are going to tear north Jersey down and rebuild it and on and on you go.

  109. The Great Pumpkin says:

    That Salt Lake nightlife is to die for especially after coming from a place like the NYC metro area!

  110. 3b says:

    Pumps two big wall street firms have moved entire departments to Salt lake. You do know there is a ton of money in Utah don’t you? Goldman Sachs has lots of Mormons working for them many in managing director spots. I knew quite a few of them. Oh and pumps Utah is one of the best run states in the country with a highly educated work force. Once again talking out of your butt hole!

  111. The Great Pumpkin says:

    Dude, if a low cost area is so desirable, why is it so damn cheap? Think please!

    3b says:
    June 6, 2017 at 9:10 pm
    Yeah pumps Montclair is on fire blah blah Wayne will be on fire too. It’s coming. High taxes are great! Low cost equals ghetto and on and on you go! Oh and cycles pumps and his cycles and we are going to tear north Jersey down and rebuild it and on and on you go.

  112. The Great Pumpkin says:

    Yes, if you are a MORMAN it’s paradise!

    3b says:
    June 6, 2017 at 9:14 pm
    Pumps two big wall street firms have moved entire departments to Salt lake. You do know there is a ton of money in Utah don’t you? Goldman Sachs has lots of Mormons working for them many in managing director spots. I knew quite a few of them. Oh and pumps Utah is one of the best run states in the country with a highly educated work force. Once again talking out of your butt hole!

  113. 3b says:

    Yeah pumps nothing beats the Wayne night life! Or happy hour in the chili’s at the garden state plaza malll.

  114. 3b says:

    Pumps keep going large Mormon community in lots Angeles and San Francisco as well. Are you saying all these people are going to convert to Mormonism when they move to Utah? Have you been to Utah? Maybe your company will ship you out three.

  115. The Great Pumpkin says:

    Great to go on a ski vacation, but not great to live. You can live there, not me.

    3b says:
    June 6, 2017 at 9:18 pm
    Pumps keep going large Mormon community in lots Angeles and San Francisco as well. Are you saying all these people are going to convert to Mormonism when they move to Utah? Have you been to Utah? Maybe your company will ship you out three.

  116. Fabius Maximus says:

    Good Luck Essex. When I came to this country I started on the West Coast.
    Its a tough call, between Bagels and Sour Dough. Both have pluses and both have minuses.

  117. Fabius Maximus says:

    “Tip to employers: don’t hire long time financial analysts or would-be economic consultants who don’t know that the past tense of pay is “paid”.”

    Tip to posters; don’t correct bad grammar, with bad grammar. Paid in this case is an adjective.

    “payed back all at once” is not common, but technically correct.

  118. Fabius Maximus says:

    Such greatness, we’ll relocate Al Udeid, just like we’ll relocate the Embassy from Tel Aviv!
    https://www.nytimes.com/2017/06/06/world/middleeast/trump-qatar-saudi-arabia.html

  119. Fabius Maximus says:

    Walking Bye,

    Can you do the math on the Solar Recs for this? Is this a MAGA Winner?
    http://www.huffingtonpost.com/entry/donald-trump-border-wall-solar-panels_us_59372050e4b01fc18d3e79c3

  120. Fabius Maximus says:

    “The farmers and Warren rednecks put an end to that idea.”

    I ended up in Warren over the weekend. Wow. it makes appreciate BC all the more.

  121. Fabius Maximus says:

    Missing makes “me” appreciate.

  122. No One says:

    What exactly is Pumpkin’s nightlife in Wayne that he can’t find elsewhere? Getting cuckolded by some guy from nearby Patterson?

  123. PumpkinFace says:

    “Paid in this case is an adjective.”

    what noun is it describing? ‘back’?

  124. The Original NJ ExPat says:

    Pumps hopes to unload his highway shack as frat house when they turn Fuddruckers into a community college. He’ll be laughing all the way to the bank. The bank of the Pompton River, that is.

    Hahahahaha

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