May EHS exceeds expectations

From CNBC:

Existing home sales hit 5.62 million units in May, vs. expectations of 5.57 million

U.S. home resales unexpectedly rose in May to the third highest monthly level in a decade and a chronic inventory shortage pushed the median home price to an all-time high.

The National Association of Realtors said on Wednesday existing home sales increased 1.1 percent to a seasonally adjusted rate of 5.62 million units last month.

Economists polled by Reuters had forecast sales declining 0.5 percent to a rate of 5.55 million units. Sales were up 2.7 percent from May 2016.

The number of homes on the market rose 2.1 percent, but supply was down 8.4 percent from a year ago. Housing inventory has dropped for 24 straight months on a year-on-year basis.

The median house price increased to an all-time high of $252,800, a 5.8 percent jump from one year ago, reflecting the dearth of properties on the market.

“We have a housing shortage, we may even use the term housing crisis in some markets,” NAR chief economist Lawrence Yun said.

House price gains have also been helped by an unemployment rate that is at a 16-year low. Mortgage rates also remain favorable by historical standards.

At the current sales rate, it would take 4.2 months to clear inventory, down from 4.7 months one year ago. The median number of days homes were on the market in May was 27, the shortest time frame since NAR began tracking data in 2011.

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

75 Responses to May EHS exceeds expectations

  1. grim says:

    Average Days on Market came in at 27. Lowest ever recorded in the history of the NAR EHS report (but, only started tracking in 2011, so not that long of a history).

  2. grim says:

    From Bloomberg:

    Top-Heavy U.S. Housing Market Is Crowding Out the Little Guys

    The U.S. housing market is looking a little top-heavy these days.

    Beneath a steady May existing home-sales number that helped put to rest fears that the busy selling season had perhaps hit a lull, the lingering supply issues haunting the industry could be making the market less stable as it continues to limit entry for lower-end buyers.

    Purchases of the previously owned homes that make up more than 90 percent of the market held at a solid pace last month, in spite of inventories that are troublingly low, according to data from the National Association of Realtors. The supply of homes for sale inched up to 4.2 months from 4.1 months, while remaining below the five months that the group considers a tight market.

    The supply that is being added to the market has been lopsided, with more affordable homes getting short shrift as builders play to the luxury market. This has coincided with more sales on the high end, while bargain buyers have fewer choices — a potentially destabilizing trend.

  3. grim says:

    Why is this such a surprise.

    Builders don’t build affordable homes, because the fixed cost component of new construction is astronomical compared to the variable cost of additional square footage.

    Simply said. If it costs $500,000 to build a 3,500 square foot cost, realize on that same property, it would likely cost $400,000 to build a 1,000 square foot house.

    Who in gods name would spend $400k on 1000 square feet when they can spend $500k to buy 3500?

    It’s a misnomer that the smaller the house, the lower the price, THIS IS SIMPLY NOT THE CASE.

    Blame the cost of land, blame the cost of regulation and permitting, blame zoning laws, blame building codes, blame all of these.

    You can’t build Levittown today. The laws don’t let you, and the economics would kill you, and the local residents would fight you tooth and nail.

    Why is anyone shocked by this?

    Found a really nice piece of property down the shore, near the beach. I want to restore the lot to sand and grass, install a small solar array for power, and build a small pad to park my Airstream.

    You would think this is perfect, correct? I maintain the land in as natural state as possible. The bare minimum of footprint to impact the landscape. Living quarters would be visually appealing (people like to look at shiny airstreams), and temporary on the landscape. Hookups for water and sewer for the trailer, etc. No gaudy McMansion. No razor thin sideyards with minimal setbacks. No hulking piers and breakaway walls. Just beautiful natural landscaping, no impacts to sightlines.

    From a risk perspective, if a storm comes, I pull the trailer and leave. Risk? Nearly zero.

    You would think this is a great idea, right? Everyone would be OK with this? We should aspire to this minimal level of impact to our barrier islands. No need to insure my risk, no need to pay for the sand to protect my property. This level of ecological sensitivity should be APPLAUDED.

    Yeah right, this is impossible.

  4. The Great Pumpkin says:

    Clooney was the perfect celebrity for marketing tequila. Everyone for some reason loves him and thinks he is the coolest man alive. Hence, he gets to sell bs for a billion dollars in 4 years. It’s all about image, and image sells in capitalism. Spit in the face to all hardworking individuals out there in that industry. Once again it’s not about the product or how hard you work, it’s all about marketing, and what the people will eat up. What can you SELL them. Not what’s of value, but what shi!!y product can you oversell them on and have the moral capacity to live with it.

    Grim says:
    June 22, 2017 at 5:19 am
    We talked with Snoop’s people about a project.

  5. Grab them by the puzzy says:

    nothing new comes into town below $1.5
    and a NYC based liberal would quickly snap it
    500k ranches and splits are gone in a day or a yr. it all depends on the lot as only builders buy at that price

    grim says:
    June 22, 2017 at 7:53 am
    Why is this such a surprise.

  6. Grab them by the puzzy says:

    @pourmecoffee

    40 year ago today:
    Attorney General John Mitchell reporting to prison for Watergate coverup.
    He did 19 months time.

  7. Grab them by the puzzy says:

    that would imply that extreme right wingers aren’t your target market

    Grim says:
    June 22, 2017 at 5:19 am

    We talked with Snoop’s people about a project.

  8. Grim says:

    I wouldn’t want to be at a party drinking with an extreme either-winger actually.

    Probably worse than being at a party with a vegan or somebody who sells any kind of Facebook marketing product.

  9. The Great Pumpkin says:

    The beauty that comes with advanced stages of economics. Like I said yesterday, the capitalism of today is not the capitalism of 50 years ago. Much more complicated due to the age of the system. Longer it is in play, the harder it becomes for the people at the bottom as the established players protect their position with laws and money.

    “You can’t build Levittown today. The laws don’t let you, and the economics would kill you, and the local residents would fight you tooth and nail.”

  10. The Great Pumpkin says:

    Wow, right on queue. One of the main ideas spoken about yesterday and Bloomberg pumping out articles on it today. We are going to have to come up with an economic system that works, and we are going to have to do it quickly to keep up with the change being created from technology. The future is coming fast and it’s almost here.

    “Thirteen years ago, two prominent U.S. economists wrote that driverless cars couldn’t execute a left turn against oncoming traffic because too many factors were involved. Six years later, Google proved it could make fully autonomous cars, threatening the livelihoods of millions of truck and taxi drivers. Throughout much of the developed world, gainful employment is seen as almost a fundamental right. But what if, in the not-too-distant future, there won’t be enough jobs to go around? That’s what some economists think will happen as robots and artificial intelligence increasingly become capable of performing human tasks. Of course, past technological upheavals created more jobs than they destroyed. But some labor experts argue that this time could be different: Technology is replacing human brains as well as brawn.”

    https://www.bloomberg.com/graphics/2017-jobs-automation-risk/

  11. The Great Pumpkin says:

    Written by the man himself. That’s how serious this issue is.

    ” Michael R. Bloomberg on how to think about wages, health insurance, and education in the wake of technological advances.” “What We Need—and Don’t Need—From Government in the Robot Age”

    https://www.bloomberg.com/news/articles/2017-06-22/what-we-need-and-don-t-need-from-government-in-the-robot-age

  12. Grim says:

    Like Mr. Gates said, the robots will be taxed via a VAT.

  13. The Great Pumpkin says:

    “Today, as consumers turn to cleaner and cheaper sources of energy, the societal benefits are widespread: Deaths from coal pollution have dropped 40 percent, and jobs in the renewable energy industry have soared. But this trend has also left coal miners, whose numbers have dwindled, in difficult positions, particularly since their employers have been walking away from their pension and health-care obligations.

    We can both embrace the societal benefits of technological change and confront the challenges it poses for individual workers and their communities—but only if we expect government leaders to look forward instead of backward and to develop effective responses rather than pitting groups against one another.

    There are no panaceas, including the idea that the wealthy should pay more in taxes, with the money redistributed to support those who lose jobs—which I’m not averse to, if the money is spent wisely. But work is an important part of what gives our lives meaning and direction. Giving people a check isn’t the same as giving them an opportunity to pursue their ambitions and fulfill their potential. Industriousness, and the chance to shape your own destiny, has always been a critical part of what’s made America an exceptional nation.

    Finding more ways to reward and encourage work will be essential to coping with automation. The Earned Income Tax Credit is one way to do that. It’s effectively a wage subsidy for low-income earners—and expanding it, or using other subsidies to encourage employment as we do with investment, may become increasingly necessary.”

  14. D-FENS says:

    People now calling for a nation wide voter-ID law….to combat Russian electoral fraud and interference of course…

  15. D-FENS says:

    A wall will also be built with solar panels…to help the environment…

    And save Mexico some money…

  16. Grim says:

    Wait I thought that the power generated was going to be sold to Mexico – so it could be claimed that the Mexican people directly financed the wall

  17. D-FENS says:

    Huge interest in minimalism at fairgrounds’ Tiny House Festival

    http://www.njherald.com/20170618/huge-interest-in-minimalism-at-fairgrounds-tiny-house-festival#

    By Lori Comstock New Jersey Herald
    Posted: Jun. 18, 2017 12:01 am
    FRANKFORD — The tiny house trend is sweeping the nation, promoting the idea of trading a larger home for a more minimalist approach in order to live modestly and conserve resources.

    In New Jersey, though the tiny house market is somewhat meek here, thousands showed their interest by flocking to the Sussex County Fairgrounds on Saturday for the New Jersey Tiny House Festival.

    At the event hosted by John and Fin Kernohan, founders of the United Tiny House Association, attendees dodged raindrops to take a peek inside dozens of tiny homes and possibly consider a life of minimalism.

    The festival will continue today from 9 to 5 p.m.

    John Kernohan said Saturday’s attendence was in the thousands, which he called “not a terribly bad” turnout, even though the threatening skies may have deterred some people. Many attendees grabbed umbrellas or raincoats and stood on long lines, as others took in live music, munched on warm food or flew through the air on a zipline.

    On Friday, opening day of the festival, which had high school students and their teachers as well as a few hours of free admittance for all, nearly 4,000 attended, Kernohan said.

    John and Christina Guzman, of Virginia Beach, Va., have attended every Tiny House Festival that the Kernohans have hosted — the first drew a crowd of more than 60,000 in Florida, and nearly as many attended during the second in Georgia.

    Christina Guzman said she and her husband are transitioning from living in a 2,200-square-foot home into a tiny house on wheels by decluttering and throwing away as much as they can.

    “We have chosen a life of just cherishing what you have and believing in the mantra ‘Things are things and money is money,'” she said. “We have even forgone taking pictures while on adventures just to enjoy our surroundings and one another.”

    The couple, who have four dogs, including a Great Dane, said the transition will be a good one for the pets since they will have a pull-out area for them to sleep as well as the outdoors for them to roam.

    Guzman said that once they go tiny they will never go back.

    For those considering a big life in a tiny home, consider the financial benefits, said Tori Pond who, with her husband, Ken Pond, both of Greenwich, Conn., designs and build tiny houses.

    “A standard, well-equipped home, approximately 250 square feet, could cost between $40,000 and $50,000,” Pond said. “With added embellishments, such as a copper roof or granite counter tops, it could near around the $75,000 mark.”

    With a keen interest in the tiny house movement, Suzanne Burke, of Wayne, Pa., came to the festival to gather some new ideas.

    “I won’t be (getting a tiny home) in the near future, but it is a goal of mine,” she said. “I am a minimalist, and right now I live in a studio apartment, but I’d like to be able to own my own home.”

    Burke, like some who choose to purchase a home-on-wheels, likes the idea of road tripping and living “off the grid.”

    Her purpose on Saturday was to peek into a few of the itty bitty homes that have a more “modern” and “streamlined” look since that is what she hopes her future tiny home will look like.

    Kathy Moller, of Florence Township in Burlington County, came to the festival with her daughter for “something to do” but instead got the urge to consider cleaning up her own home.

    “I like the downsizing part of these tiny homes. It makes me want to go on a junk purge,” she said.

    The day also included food trucks with various choices including bacon cheeseburger meatballs on a stick, crab cakes, ice cream from Coldstone Creamery and Latin food from The Empanada Guys.

    In addition, various workshops and presentations were ongoing for those interested in considering a tiny home of their own.

    Brandon Gardner, salesperson and developer for Volstrukt, a business that designs, manufactures and assembles tiny home frames, said the turnout for Saturday’s festival was great. He said many were interested in learning more about how to construct their own tiny home.

    Volstrukt is headquartered in Texas — Gardner and his co-workers traveled to the fairgrounds by truck the day prior — and although business is expanding to various markets in the Southern and Western states, and internationally in Dubai, Cairo and the United Kingdom, Gardner said the goal is to try and reach the East Coast.

    “It’s a growing market and I think that a lot of people are being held back (in the eastern United States) because of various township codes that prevent them from being able to construct a tiny home,” he said.

    The process to build in New Jersey and across the nation, however, may just start becoming a little bit easier for those looking to build a miniature abode.

    In December 2016, the International Code Council approved RB168-16, a tiny house index, to the International Residential Code book that is used throughout the United States, allowing people to receive a Certificate of Occupancy for their tiny house.

    Prior to the index, building inspectors would be overwhelmed with tiny house project applications, according to reports, and would not be able to grant that certificate based on the standards outlined in the appendix.

    State Sen. Raymond Lesniak, D-20th Dist., is co-sponsoring a bill in the New Jersey Legislature to establish a three-year “Tiny House Pilot Program” that would assist residents struggling financially as well as the state’s homeless population with acquiring housing through the construction of small, affordable homes.

    The bill, which is also sponsored by state Sen. Brian Stack, D-33rd Dist., is making its way through the Legislature.

    The festival will continue today from 9 to 5 p.m. at the Sussex County Fairgrounds, 37 Plains Road, Frankford.

    Admission, which includes workshops, entertainment, presentations and tiny house tours, is $20 per person for ages 13 and older.

    Admission for children 12 and under is free all weekend.

    Active or retired military, law enforcement, and first-responders, including firefighters and EMTs, get in free all weekend with valid photo ID.

    For more information, visit http://www.unitedtinyhouse.com

  18. Grim says:

    Hey moose – wtf – I just saw a Cessna land at EWR.

  19. No One says:

    https://fee.org/resources/economics-in-one-lesson/#calibre_link-31

    THE CURSE OF MACHINERY

    Among the most viable of all economic delusions is the belief that machines on net balance create unemployment. Destroyed a thousand times, it has risen a thousand times out of its own ashes as hardy and vigorous as ever. Whenever there is a long-continued mass unemployment, machines get the blame anew. This fallacy is still the basis of many labor union practices. The public tolerates these practices because it either believes at bottom that the unions are right, or is too confused to see just why they are wrong.

    The belief that machines cause unemployment, when held with any logical consistency, leads to preposterous conclusions. Not only must we be causing unemployment with every technological improvement we make today, but primitive man must have started causing it with the first efforts he made to save himself from needless toil and sweat.

  20. The Great Pumpkin says:

    Wow, like Grim said, they really are trying to manipulate the public into this movement due to the lowering of living standards. My shed is prob bigger and nicer than these tiny houses (my shed has hardy siding and looks like a miniature house). Best part, they have 4 BIG dogs and they are going to live in a tiny house? No thanks, I’ll keep a normal sized house, I don’t want to live outside.

    “We have chosen a life of just cherishing what you have and believing in the mantra ‘Things are things and money is money,’” she said. “We have even forgone taking pictures while on adventures just to enjoy our surroundings and one another.”

  21. The Great Pumpkin says:

    AI is no machine, it’s the creation of a new being. That’s the difference. The damn machines based on AI will do everything a human can but better. The minute AI could beat the best human chess players, the writing was on the wall. Yes, I could be wrong, and this AI will help create more jobs from its creation, but logic tells me that they will eventually take over everything that humans currently do. In my mind, it’s inevitable, but maybe I’m looking at it all wrong.

    No One says:
    June 22, 2017 at 9:17 am
    https://fee.org/resources/economics-in-one-lesson/#calibre_link-31

    THE CURSE OF MACHINERY

  22. jcer says:

    Pumpkin chess has nothing to do with AI, first off. Second AI is a bit of a misnomer the real activity is in machine learning. Things that were algorithmic-ally difficult to process can now be handled by machine. Self driving cars, automated phone prompts, et al will become realities in our lifetimes, so will workflows and automation in the areas of medicine, law, office work, and engineering. More general purpose robots are a ways off and I don’t see labor disappearing, your lawn care and roofing work will still be done by people if wages remain low as robots for such tasks are inefficient, expensive and would have relatively high maintenance costs. The jobs associated with the automation are not many and require skill, in the future skills will save you because either you will service the robots, design the robots, or administer the robots so the need for technicians, engineers, and programmers will be high. Working hours will need to be reduced, the increased free time should create demand for more leisure activities. Increased productivity will be a boon for the economy…. Companies will either need to address how long employees work or reduce prices or go out of business. The market will find the solution after a period of instability. The future is bright, people just need to be rational about things….

  23. chicagofinance says:

    7. MEDICAID EXPANSION – Of the 17.8 million Americans who joined Medicaid subsequent to its expansion as a result of the “Affordable Care Act,” 4.5 million (25% of the 17.8 million) were Californians. Medicaid was supporting 74.6 million Americans as of March 2017 or 23% of our population (source: Kaiser Family Foundation).

  24. JJ fanboy says:

    Chifi,

    That’s just cultural differences.

  25. The Great Pumpkin says:

    I don’t know, I think technology is going to come pretty fast. 20 years ago, they claimed autonomous vehicles were impossible, and here we are. I imagine in 10 years, all landscapers will have one worker to supervise/maintain a fleet of autonomous machines. Truck pulls up, autonomous work force comes out, takes care of everything, loads back up, and moves to the next job.

    Labor is not going to disappear, but in no way in hell will you have enough jobs to cover the majority of the population. It’s hard enough now to find jobs for these people today, and you think it will get better as more autonomous tech takes their jobs?

    “More general purpose robots are a ways off and I don’t see labor disappearing, your lawn care and roofing work will still be done by people if wages remain low as robots for such tasks are inefficient, expensive and would have relatively high maintenance costs.”

  26. The Great Pumpkin says:

    I’m not worried about the skilled population, income inequality has proven they are doing more than fine under these conditions. I’m worried about the legions of people with no skill. What do you do with them?

  27. D-FENS says:

    We’re just going to have to pass this healthcare bill…to find out what is in it.

    https://www.youtube.com/watch?v=hV-05TLiiLU

  28. jcer says:

    Pumpkin I don’t know who claimed impossible….driving is a much simpler task than many and the data available to an autonomous car likely gives it the ability to respond more quickly than a person. Have you seen a landscaping crew move, 4-5 guys jump off a truck do 5 lawns and are back in the truck in 45 minutes, their machines already reduce labor a lot and if they were automated they would likely be slower. Automation would be more in the form of you buying a robot to mow your lawn. Society will become more bifurcated, inequality has been the norm for most of human history.

  29. Alex says:

    jcer,

    I think for the vast majority of people that find themselves unemployed due to automation, leisure will come in the form it is now: tv, internet and smartphone.

  30. grim says:

    Easily fixed.

    Cap the maximum amount of hours worked by individual.

    Universal basic income based on new VAT taxes.

    Increased tax incentives for single worker households – or disincentivized multiple earners.

    Ban employment for anyone under the age of 21.

    Ban employment for anyone over the retirement age.

    I’m sure nobody would like any of these options.

  31. grim says:

    Or maybe like communist eastern europe.

    Having a job was something your politically connected brother in law procured for you, as a gift of political patronage. Good comrade, as a reward for your loyalty you can have a job installing sprockets now, and you can now have a ration book, if you work for 36 months, you can have the opportunity to buy a refrigerator.

    Privet tovarishchi – we will make one thousand tractors this month!

  32. The Great Pumpkin says:

    Jcer, think about it on a competitive level. Commercial landscapers will have to compete with these autonomous lawnmowers. The only way they can remain competitive is buying better autonomous lawnmowers. You can’t pay 4 or 5 guys 15 an hour and still compete. No different than mcds. If the machine can do it, the worker will eventually be replaced.

  33. D-FENS says:

    I’m ok with robots…as long as they’re capitalist robots.

  34. grim says:

    Robots are clearly capitalists.

    McDonald’s hits all-time high as Wall Street cheers replacement of cashiers with kiosks

    McDonald’s shares hit an all-time high on Tuesday as Wall Street expects sales to increase from new digital ordering kiosks that will replace cashiers in 2,500 restaurants.

    Cowen raised its rating on McDonald’s shares to outperform from market perform because of the technology upgrades, which are slated for the fast-food chain’s restaurants this year.

    McDonald’s shares rallied 26 percent this year through Monday compared to the S&P 500’s 10 percent return.

    Andrew Charles from Cowen cited plans for the restaurant chain to roll out mobile ordering across 14,000 U.S. locations by the end of 2017. The technology upgrades, part of what McDonald’s calls “Experience of the Future,” includes digital ordering kiosks that will be offered in 2,500 restaurants by the end of the year and table delivery.

    “MCD is cultivating a digital platform through mobile ordering and Experience of the Future (EOTF), an in-store technological overhaul most conspicuous through kiosk ordering and table delivery,” Charles wrote in a note to clients Tuesday. “Our analysis suggests efforts should bear fruit in 2018 with a combined 130 bps [basis points] contribution to U.S. comps [comparable sales].”

  35. Fast Eddie says:

    Essex,

    When are you going to bail on yet another move, realizing that your life still s.ucks before dragging your @ss back to Indiana or wherever the f.uck you were hatched?

  36. D-FENS says:

    McDonald’s franchisee’s are really small businessmen… $15/hr minimum wage kills them.

  37. D-FENS says:

    one of the most interesting statistics from Tuesday’s runoff in GA

    @johnston_kelly 5m5 minutes ago
    GA-6 loser Jon Ossoff spent $33-35 million and won 124,893 votes (48%). Previous Democrat nominee spent $0 and won 124,917 votes (38%).

  38. D-FENS says:

    The Mexican Sunshine is going to pay for the wall.

    Grim says:
    June 22, 2017 at 8:59 am
    Wait I thought that the power generated was going to be sold to Mexico – so it could be claimed that the Mexican people directly financed the wall

  39. Phoenix says:

    Inflation. Levittown sized house approximately 1000 sq ft with land, 10k at the time, roughly 75k in today’s money . So now you get 1/4 size house with granite countertops and a 5x tax bill…….

    “A standard, well-equipped home, approximately 250 square feet, could cost between $40,000 and $50,000,” Pond said. “With added embellishments, such as a copper roof or granite counter tops, it could near around the $75,000 mark.”

  40. The Great Pumpkin says:

    Does anyone see the irony of trump advocating solar panels after stating global warming is a hoax? Go use coal tough guy, and stop wasting money on a con called solar panels, right trump? Loser

  41. The Great Pumpkin says:

    And now the clown claims he has no recordings? Wtf? Shoot this guy, please. He is an embarrassment to the highest position in our country. I know why he put out the original tweet; he team was being investigated, so he wanted to maintain control over his supporters before they turn on him. So he reels his supporters back in with a tweet made to seem like Comey is lying, and shouldn’t, because trump has tapes. What a f’en loser!

  42. JJ fanboy says:

    Anyone tried ordering at a fast food kiosk? I tried the tablets at panera’s and thought it was tedious. Not instinctive at all. Now I just ignore the tablets and go to the cashier.

    Much prefer smash burgers online ordering, although burger places have a much simpler menu than paneras does.

  43. D-FENS says:

    WaWa and Quick Chek have done it for years. Works great. When you pick up your sandwich…head to the self checkout and your all done.

  44. D-FENS says:

    Why do you want to hurt the environment? Trump is trying to help the environment! Think of the little animals…the poor defenseless little animals!

    The Great Pumpkin says:
    June 22, 2017 at 2:03 pm
    Does anyone see the irony of trump advocating solar panels after stating global warming is a hoax? Go use coal tough guy, and stop wasting money on a con called solar panels, right trump? Loser

  45. The Great Pumpkin says:

    If he is trying to help the environment, stop wasting valuable resources that will hurt wildlife from roaming freely.

  46. Yo! says:

    Triple Five sold $1 billion of bonds. With this financing in place American Dream will be completed.

  47. The Great Pumpkin says:

    Wow, proof that there is so much money looking for a place to park and go to work. Absolutely crazy. Good for northeast nj economy. That’s a ton of money being dumped into our economy. Let’s see what politicians run to take credit and then ruin our economy with the decisions they make because they have their head so far up their a–.

  48. The Great Pumpkin says:

    D, didn’t you find something that stated the exact opposite.

    “Every time a minimum wage increase is proposed locally or nationally, conservative politicians and their billionaire campaign contributors claim that jobs will be destroyed. Time and time again they have been proven dead wrong.

    Take a look at the latest data from Seattle. According to its Office of Economic Development, after Seattle became the first major city to increase the minimum wage to $15 an hour, the unemployment rate has gone down and is currently at a historic low of 2.6 percent. Income gains have outpaced not only the State of Washington, but the entire country. Over 935 new restaurants and retail stores have been established. Overall revenue at restaurants and retail stores are up, not down. And over 48,000 new jobs have been created since 2013.

    Not only is increasing the minimum wage to a living wage of $15 an hour the right thing to do from a moral perspective, it is good for the entire economy. In the year 2017, a job must lift Americans out of poverty, not keep them in it. Let’s raise the minimum wage nationally to $15 an hour.” Bernie Sanders

  49. The Great Pumpkin says:

    Still, others in the food industry in Seattle have been scrambling to find workers, including a restaurant owner who recently posted about desperately needing a dishwasher.

    Reich, of UC Berkeley, said the study is not saying that there aren’t individual restaurants that have to cut hours or let people go or close.

    “What we’re doing is looking at the overall picture. Some businesses are on the edge of closing anyway — this might accelerate it a bit,” he said. “But it’s balanced by other restaurants that have opened or hired.”

    http://www.seattletimes.com/business/retail/latest-study-seattles-wage-law-lifted-restaurant-pay-without-shrinking-jobs/

  50. Blue Ribbon Teacher says:

    Automated landscaping? It’s an art. You aren’t going to program a computer to edge a flower bed nicely. I could see a massive field but a neighborhood….not happening.

  51. Anon E. Moose, Ghost of JJ says:

    Grim says:
    June 22, 2017 at 9:01 am
    Hey moose – wtf – I just saw a Cessna land at EWR.

    Really?!? Some Cessna pilot recorded his landing at O’Hare, but he had to call ahead to ATC and do it at about 3:00 AM for them to let him in. I’ll have to see if this was some sort of emergency.

  52. Anon E. Moose, Ghost of JJ says:

    Grim, landed from the west over Rts. 1 & 9? I just listened to the tower recording from 8:45-9:00 AM this morning, I think I know which plane it was.

  53. grim says:

    Yeah, I saw it from the parking deck at Terminal C looking North, landed west to east on an odd section of the tarmac.

  54. grim says:

    That’s exactly the timeframe as well.

  55. No One says:

    Harrison Ford back in town?

  56. Anon E. Moose, Ghost of JJ says:

    It wasn’t a Cessna, though it was a single engine private plane. It was a low-wing Beechcraft Bonanza (fuselage sits on the wings; in a high-wing Cessna the fuselage hangs from them). The one you saw took off from MacArthur Airpot in Islip about 1/2 hour before landing at Newark. It left Newark at noon for Statesville, NC, from whence it came Wednesday. (Sometimes it scares me how easy that information is to get.)

    Newark uses the two parallel runways (4R/22L; 4L/22R) that run along the Turnpike for most everything that comes and/or goes. The runway numbers are the first two digits of the magnetic compass heading for the runway. Runway 4 points 040 degrees, the opposite direction adds or subtracts 180 degrees, for 220, or runway 22 (L, R, Center when there are more than one the same direction). Newark’s SOP is one of those twin runways for departures, the other for arrivals. They have another runway that runs roughly perpendicular to those two, on the north side of the field. They use it once in a while when the crosswinds get too heavy for the smaller airliners to land north or south. When they have an oddball arrival (like the Bonanza) they can also put it on that runway, coming from the west over 1 & 9, away from the conga line of airline traffic. As long as the pilot doesn’t cross the other two runways (they meet at their ends like a number “7”), they’re fine. When he left Newark, he took off the same runway, opposite direction, also away from the airline traffic.

    This has been your real estate and aviation blog report. :-D

  57. The Great Pumpkin says:

    The human body is nothing more than a very complicated machine. It can be replicated and it will be replicated.

    Blue Ribbon Teacher says:
    June 22, 2017 at 3:48 pm
    Automated landscaping? It’s an art. You aren’t going to program a computer to edge a flower bed nicely. I could see a massive field but a neighborhood….not happening.

  58. The Great Pumpkin says:

    If they could figure out how to learn to fly to going into outer space in less than 50 years, anything is possible. If they can go from computers that took up blocks, to apple watches that pack more punch, anything is possible. If they can go from the model T to ford mustangs chirping out 800 hp stock, anything is possible. If they can go from the telegraph to talking on a video phone in any location you please, anything is possible. They went from fighting with swords to unmanned aircrafts dropping precision guided missles in almost of a blink of an eye. Just remember how primitive we are and how much more we have to go. Anything is possible.

  59. The Great Pumpkin says:

    “The founding members represent a range of moderate Democrats, Independents, and Republicans. Billionaire and former New York City Mayor Michael Bloomberg, physicist Stephen Hawking, and Walmart heir Rob Walton are members, as is Steven Chu, a physicist who served as Secretary of Energy under the Obama administration.

    In addition to the individuals and corporations, two NGOs, Conservancy International and The Nature Conservancy, are on the council. Incidentally, The Nature Conservancy was one of two environmental groups that are known to have gotten a meeting with Administrator Pruitt since he started at the EPA.

    It is not entirely surprising that the oil and gas majors joined the council. Exxon and other companies have recently come to admit that carbon emissions are pushing the world to an unlivable climate and have publicly supported the Paris climate agreement. Even Secretary of State Rex Tillerson, who was CEO of Exxon prior to joining the administration, told Congress that he favored staying in the agreement.”

    https://thinkprogress.org/businesses-call-for-climate-tax-815dd8d00a18

  60. The Great Pumpkin says:

    I don’t know, Stephen Hawking is a lot smarter than any of us, if he believes it’s a problem, maybe we should pay attention?

  61. The Great Pumpkin says:

    What does he have to gain? He doesn’t need money and he stuck in a wheelchair suffering from a terrible disease. What does he have to gain from taking this position?

  62. The Great Pumpkin says:

    “Some environmental groups scoffed at the oil and gas giant’s participation in the group, saying the plan lets polluters off the hook for any previous emissions.
    “Buried in pages of supposedly ‘free market’ solutions is a new regulation exempting polluters from facing legal consequences for their role in fueling climate change,” Greenpeace’s Naomi Ages said in a statement. “ExxonMobil will try to dress this up as climate activism, but its key agenda is protecting executives from legal accountability for climate pollution and fraud.”

  63. The Great Pumpkin says:

    “Republicans were never hostile to the federal government until Reagan. He started the fad that the federal government was the enemy, except for the armed forces, the FBI, and the Border Patrol. Richard Nixon started the EPA and he passed the Clean Air Act and the Clean Water Act. Today’s republicans want to undo what past republicans accomplished to improve the country. Do you remember when the Cuyahoga River was so polluted it caught fire?It will be burning again with the way trump is gutting the EPA. Because you are responsible in your business doesn’t mean everyone else will also be responsible.”

  64. Fabius Maximus says:

    I have used both the McD, QuickChek and other POS IPads.
    They are badly designed. I work in industry and find it confusing. QuickChek I HATE. I end up walking out with a sandwich I don’t actually want. I am driven down a menu system to an end result that is a compromise, but its too much effort to back track. It reminds me of the early days of Call center outsourcing. Confusing touch tones that ends up with Bob in Mumbai. This will go the same way, the cashiers will be back to do the ordering.

    McDs is just confusing.

  65. postbot stats says:

    The Great Pumpkin by the Numbers
    N=25
    %=36.2
    Value=[null]

  66. JJ fanboy says:

    I used the buc-ees tablet and it was easy to use.

  67. joyce says:

    But every officer must uphold the rule of reason, a rule that compels a degree of courage, a measure of discipline, and a tolerance for risk that is inherent in the job that they’ve chosen.
    http://www.nationalreview.com/article/448828/philando-castile-shooting-police-must-display-reasonable-fear

  68. D-FENS says:

    Cop panicked…overreacted. Caused his death.

    But for the grace of god go I.

  69. The Great Pumpkin says:

    “We live in a time when new discoveries and innovations are so commonplace that it’s easy to take cutting-edge research for granted.

    But most breakthroughs that improve our lives get their start as government-sponsored research.” Bill Gates

    https://www.facebook.com/BillGates/videos/10154653399141961/

  70. The Great Pumpkin says:

    Blue ribbon, sell your f’en coal stock position while you still can. Fossil fuels are dead. There’s a reason the Saudi kingdom is diversifying its portfolio, they know time is running out on their lottery ticket.

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