Millennials increase homebuying

From HousingWire:

Millennials drive up homeownership rate in Q2

The national homeownership rate increased slightly from last year, but was not statistically different from last quarter, according to the latest release from the U.S. Census Bureau.

The homeownership rate in the second quarter came in at 63.7%, up 0.8 percentage points from last year’s 62.9% but only 0.1 percentage points from the first quarter’s 63.6%.

Last year’s 62.9% represented the lowest rate for homeownership since 1965. Since then, the homeownership rate hovered close to this 50-year low.

The Census Bureau report also showed that national vacancy rates for rental housing increased in the second quarter to 7.3%. This is up 0.6 percentage points from 6.7% last year and up 0.3 percentage points from last quarter’s 7%.

On the other hand, the homeowner vacancy rate decreased 0.2 percentage points from the second quarter 2016 and the first quarter this year to 1.5%, which is the lowest level since the first quarter of 2001.

The homeownership vacancy rate inside principal cities rests even lower at 1.4%, the lowest level since the fourth quarter of 1980, when the rate also sat at 1.4%.

Surprisingly, despite being the most affected by rapidly rising home prices and fierce competition in the housing market, Millennials were the only generation to see an increase in their homeownership rate from last quarter.

The homeownership rate for those under 35 years of age increased a full percentage point from last quarter’s 34.3% to 35.3% in the second quarter, which is the highest level since the third quarter of 2015.

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93 Responses to Millennials increase homebuying

  1. Chi says:

    FRIST niches!

  2. Chi says:

    “I’m not Steve Bannon, I’m not trying to suck my own c- -k,” he said.

    Anthony Scaramucci

  3. Grab them by the puzzy says:

    @AppleMusic
    What’s everyone listening to this morning?

    @cbouzy
    The sound of Donald Trump’s presidency imploding.

  4. Grim says:

    I like all the profanity, it’s a change of pace.

  5. Fast Eddie says:

    For those in favor of single payer, I have a question:

    How much more of your income are you prepared to pay to supplement those with no income?

  6. ex-Jersey says:

    How much of your Johnson are you prepared to shove in ChiFi’s AssH@le!?

  7. Fabius Maximus says:

    The profanity fits in well here. Just how you like it. Wouldn’t want to too classy!

  8. Bystander says:

    Gary,

    There are numerous gates that have to be in place, particularly on medical and pharma pricing. I also think that bucketing conversation into supporting losers with no income it just not accurate. The bigger problems are vast majority of hard working Americans who don’t make alot yet either not covered at work or face continuous barrage of premium increases. I make a good white collar living but if tomorrow my bank threw me out, I would get only one month of coverage then right onto $2500 month COBRA. Severance has been whittled down so in three months, I would be paying out of savings. BTW, this scenario is highly likely. Too many people that are a hair away from financial catastrophe bc health care costs are absolutely out of control.

  9. Fast Eddie says:

    essex,

    Answer the question.

  10. Soap inMouthCaramucci says:

    Eddie, to answer your question.

    The most expensive part of the population is already covered by Medicare. To cover the under 65 will not be that more expensive.

    You’ll also save money in the restructuring into Medicare of present Medicaid/VA/Indian Health Services & TriCare.

    You’ll save money with pharmaceuticals. Sprycel (oral anticancer) =$11,000 a month in USA. $6-30 a month in India were they make it.

    Save money in infrastructure and paper pushing.

    Finally. As a Gen X. I know as things stand now, I’m getting screwed by present system and will not benefit in future by the left over post boomer locust Medicare. If I don’t get relief now. Then I support Ryan’s call to blow Medicare away so at least the boomers die sooner and faster than later.

    To Scaramuccified my quote – If I’m not getting a piece of the pie, I’m sh*tt*ng on it.

  11. Fabius Maximus says:

    Gary will be too busy admiring the savings from not having to pay premiums, co-pays, coinsurance, deductibles in network and out, balance billing, upcoding etc.

  12. Fast Eddie says:

    Bystander,

    I get it, we’re all in the same boat if jobless. But I want those in favor to tell me how much they are willing to pay.

  13. Fast Eddie says:

    I have chores… will respond more later.

  14. Bystander says:

    The other thing is amount of time we all spend reviewing, calling, fighting medical bills. The whole billing industry is setup to ignore, confuse and delay. I had two trips to ER and child born in 2016. I received a letter that our delivery hospital was not part of CIGNA network and I would pay $50k bill. This was wrong of course. Think that was a one conversation call? Try three with CIGNA. One hour each. I can’t imagine what Stu endures. That alone almost make single payer worth it.

  15. joyce says:

    Any savings from less administrative costs pales in comparison to what would be realized if the price gouging, collusion and fraud were reduced. Stop focusing on insurance and look at just the healthcare providers/pharmaceuticals/etc. Racketeering that would make the entire FIRE industry proud.

  16. Grab them by the puzzy says:

    @chrislhayes

    After 7 years of campaigning on replacing the ACA,
    the GOP wrote their bill over lunch,
    posted it at 10pm and are gonna vote at midnight.

  17. Grab them by the puzzy says:

    @BenjySarlin

    After 7 years of famous Obamacare process complaints,
    Senate to vote on bill in dead of night,
    written hours earlier, that they don’t want

  18. Blue Ribbon Teacher says:

    A great sandwich shop in my town closed up shop this week. Then I went to go to Smashburger and they are closing down. A few others apparently closed in the state yesterday as well. IMO, this is not the type of signs I expect when the stock market reaches record highs which is a bad indicator.

  19. Bystander says:

    Teach,

    You want to see the result of unsustainable housing prices and increased med costs along with little wage growth, well look no further. Most Americans are not benefiting from stock market.

  20. Blue Ribbon Teacher says:

    Yeah, we’ve all known it was bad here on this board for years. The problem is, the inflationary monetary policy has kept us afloat for 10 years straight while pumping up the stock market. It gives the illusion of prosperity and everyone at this point thinks everything is hunky dory. Something’s gonna slip. I’m still waiting for that world wide currency crisis.

  21. Blue Ribbon Teacher says:

    with respect to Smashburger,

    we are talking about a major burger chain that didn’t overexpand. The only thing I found wrong with their business model is possibly that they would coupon themselves to death. I would have expected a downturn to precipitate places like this closing.

    I remember right around 2008, all the restaurants were empty right before the crash.

  22. ex-Jersey says:

    E D D . OO =============D —– . The government is not reflecting the will of the people. So let’s take your healthcare question. Taxed $5k last year. No doubt. I assume that was the piece of Obama-care we paid. Ouch. Yeah, but $5k isn’t going to make or break our year, so that is where we are. I like that number.

  23. Blue Ribbon Teacher says:

    Any savings from less administrative costs pales in comparison to what would be realized if the price gouging, collusion and fraud were reduced. Stop focusing on insurance and look at just the healthcare providers/pharmaceuticals/etc. Racketeering that would make the entire FIRE industry proud.

    I’ve been going to Trinity Rehab for physical therapy all summer. They’ve got the shockwave treatment that is a godsend for soft tissue injuries. They have rapidly expanded in the state. If your insurance doesn’t cover it, they do a cash offering of $600 for the treatment.

    I got this treatment 15 years ago when it first came out. $3000 cash. Now it’s down to $600. Why? Because insurance is out of the game. This happens with everything that isn’t covered. Cosmetic surgery, laser eye surgery, shockwave treatment. Anything that is not covered magically keeps decreasing in price because of real competition.

    Medical professionals need to figure out how to turn their practice into a cash business. They’ll be much better off and so will the public.

  24. JJ fanboy says:

    Grim, I am in moderation for some reason

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

    “I can’t imagine what Stu endures. That alone almost make single payer worth it.”

    You have no idea!

    A couple of tips though. Wait for all of the bills for the year to come in before you even begin to pay for them. Especially if you are going to hit max out of pocket. BCBS does a terrible job with keeping track of exactly when you hit this point. The other reason you need to wait is because appeals and mistakes in one bill can and will affect what you pay on other bills. In some cases, without explanation, costs for some services changed. Also, the lag in receiving the bills and the EOB’s is astounding. In many cases, we didn’t get one or the other, or both, for nearly a year after the service was rendered.

    The truth is, the waste in the industry is astounding. Of course, it’s only possible due to the excessive profits being made by all parties. Not that I didn’t enjoy all of the incredible perks in CHOP, but my god, it’s like they throw in the perks to justify the $10,000/day they charge to be in the bone marrow transplant unit. Want to find the prettiest, most spacious and architecturally modern buildings in any city? Look for any hospital built in the last 20 years. It’s time for single payer and the insurance companies need to go.

  26. D-FENS says:

    Please vote Republican. McCain is leading the fight to Repeal Obamacare! Yay!

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

    As for Smashburger, there was nothing unique about their product and it was simply too expensive. Sure, it was better than fast food, but not worth the $12.50 for a cheeseburger, fry and a coke. Get a shake and it’s $15 per person. That’s a lot of scratch for something you could get for $5 at a FF joint. Gator and I would get the kids meal when we went, was perfectly fine portion wise and cost about the same as a combo meal at Ronald’s. At the SB in Montclair/Glen Ridge, they fcuked up the order with such regularity that we stopped going. These were all Montclair High School kids serving. It did not speak well for their level of education.

  28. D-FENS says:

    Tax cuts are totally in the pooper now. Obamacare mandates huge spending increases on Medicaid. Propose a tax cut and the CBO is going to say it’s unsustainable…it’s going to cost us zillions…blah blah blah. Really the only way the Medicaid increases are paid for is through tax increases. Enjoy!

  29. joyce says:

    Blue Ribbon Teacher says:

    Anything that is not covered magically keeps decreasing in price because of real competition.

    Medical professionals need to figure out how to turn their practice into a cash business. They’ll be much better off and so will the public.

    Agreed. But some of the providers (what percentage, I’m not sure) are better off without the real competition. And in addition to faults already mentioned with insurance, their profits are tied to a percentage of cost… it’s in their interest to keep costs high (and higher).

  30. D-FENS says:

    Thanks Johnny!

    From the beginning, I have believed that Obamacare should be repealed and replaced with a solution that increases competition, lowers costs, and improves care for the American people. The so-called ‘skinny repeal’ amendment the Senate voted on today would not accomplish those goals. While the amendment would have repealed some of Obamacare’s most burdensome regulations, it offered no replacement to actually reform our health care system and deliver affordable, quality health care to our citizens. The Speaker’s statement that the House would be ‘willing’ to go to conference does not ease my concern that this shell of a bill could be taken up and passed at any time.

    “I’ve stated time and time again that one of the major failures of Obamacare was that it was rammed through Congress by Democrats on a strict-party line basis without a single Republican vote. We should not make the mistakes of the past that has led to Obamacare’s collapse, including in my home state of Arizona where premiums are skyrocketing and health care providers are fleeing the marketplace. We must now return to the correct way of legislating and send the bill back to committee, hold hearings, receive input from both sides of aisle, heed the recommendations of nation’s governors, and produce a bill that finally delivers affordable health care for the American people. We must do the hard work our citizens expect of us and deserve.

    -John McCain

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

    So in other words…as long as we keep feeding at the health care lobbies buffet, we are powerless to actually reform health care in any meaningful or significant way.

    Thanks Johnny!

  32. Soap inMouthCaramucci says:

    Joyce & Blue Ribbon Teach.

    Some of them already do, but is more common in rare specialties. I remember about 10 yrs ago most hand surgeons in the Miami area outside of the teaching hospitals were cash only. Here they would not survive with Hospital for Special Surgery nearby.

    In northern NJ, the few are usually highly sought specialty like pediatric endocrinologist. I know one in Tenafly. In network endocrinologist 6 month wait for appointment. Cash only within a week.

    Also One Medical in NYC. Think fancy luxe office/ urgent care center that takes your insurance plus a yearly membership fee.

    The issue for any physician going this route is, either you need the deep pockets to finance the operation for years until you build a loyal cash paying clientele; or you have to have a very niche specialty where there is an tural shortage and a severe shortage of in-network providers and people will pay to see you. Compounding this, is this specialty has to be strictly office based. If you need to work with hospitals you are screwed.

  33. The Original NJ ExPat says:

    In an email account that I rarely use, but still maintain, I found something interesting. Trulia has just delivered to me my “Gainesville Weekender” this morning (as in Florida, no idea why). The HTML email has these four categories listed equally down the left side with a big green View All button underneath each one. Here are the four equal sized metrics, with equal size “view all” button beneath each one:

    34 Open Houses
    View All

    217 Fresh Listings
    View All

    43 Price Drops
    View All

    662 Crimes This Month
    View All

    btw, I of. course clicked on #4. It brought me to home listings. clever,

  34. D-FENS says:

    McCain has nothing to lose. He took the bullet…

    Sneaky Sneaky!

    “Additionally, it should be noted for an accurate record that Nevada Republican Senator Dean Heller delayed his own roll call vote, skipped his name when called, until he was able to see that McCain cast the vote against America.

    When Heller was safe – as in: able to hide his malicious intent and vote “aye” at the conclusion of the roll- he gave the appearance of support. A very typical albeit Machiavellian maneuver, customarily subtle and historically utilized by Senator Ted Cruz with few paying attention.”

  35. D-FENS says:

    AZ Governor is addicted to Medicaid $$$

    No McCain can retire…mission accomplished and the AZ Governor can appoint a Trump hating RINO.

  36. Walking bye says:

    I also love Medicaid seniors that b!tch and moan about copays but mention laser treatment to make you look younger (cash only$3000) and they can’t whip out their credit card fast enough. The baby boomers will bleed us dry.

  37. Phoenix says:

    McCain is facing the abyss.
    My guess is he appreciates the healthcare he has received over the years.
    The man is a hero. He is entitled to his vote.
    I like the fact that he stood his ground.
    Lots of threats/bullying around this topic. A vote is not a vote if there is a threat attached…

  38. Phoenix says:

    WB,
    I’ve been saying the same thing all along…

  39. Phoenix says:

    WB,
    Do you mean Medicare or Medicaid?

  40. The Original NJ ExPat says:

    I like the heroes that don’t get captured. (pun intended)

  41. Phoenix says:

    Funny how we will give entertainers and sports figures millions, yet complain when we pay a surgeon or anesthesiologist 200k…

  42. joyce says:

    Who complained about doctors’ salaries?

  43. joyce says:

    Force healthcare providers to do the following:
    – post their prices for services and hourly rates
    – any service offered has to be the same price regardless of method of payment

    They can still make their current salaries and fire 95% of the admins

    Much more to do but let’s start with those …

  44. Blue Ribbon Teacher says:

    Phillip Morris down 8.4% today on an FDA announcement to reduce nicotine in cigarettes. I want to know how many bastards in the government short ahead of announcements like this.

  45. Phoenix says:

    Joyce,
    No two people are alike. Who eats it when a patient has an infection after surgery because they did not take their antibiotics?

    Should patients be charged by how much they weigh? Total hip harder to do on someone who weighs more-additional risks involved, cardiac issues, etc. Maybe the person should have to pay more/less depending on their baseline health/weight/additional risk factors.
    Will that patient tell you they are a smoker/drug abuser/alcoholic if they know they are going to pay more?
    What about diabetics? Higher risk for infection, etc. Perhaps a surcharge?

    Give a discount for those releasing their right to sue or using an arbitrator vs the court system?

    Your government has decided not to negotiate drug prices-something that has the least amount of variables in it (it is just a product, not a service). Would have been a good place to start.

  46. Phoenix says:

    BRT,
    I could think of one family….

  47. D-FENS says:

    Phoenix completely talking out of his ass.

  48. Phoenix says:

    joyce says:

    “Who complained about doctors’ salaries?”

    Obviously not you..

  49. Blue Ribbon Teacher says:

    As for Smashburger, there was nothing unique about their product and it was simply too expensive. Sure, it was better than fast food, but not worth the $12.50 for a cheeseburger, fry and a coke. Get a shake and it’s $15 per person. That’s a lot of scratch for something you could get for $5 at a FF joint. Gator and I would get the kids meal when we went, was perfectly fine portion wise and cost about the same as a combo meal at Ronald’s. At the SB in Montclair/Glen Ridge, they fcuked up the order with such regularity that we stopped going. These were all Montclair High School kids serving. It did not speak well for their level of education.

    Dunno, I had great service at mine. Regardless of what the opinion is of their business model, I expect these things to close up shop when a downturn hits…not when the S&P makes new highs. I’m thinking about placing bets of a market top.

  50. No One says:

    joyce,
    Good idea. So many of these people do great and important work, but the system is far, far removed from market forces. It’s already mostly a government-directed industry, but I don’t see anyone working to turn it around. Maybe Rand Paul but I didn’t bother to read his plan because I heard it was getting minimal support from Republicans and none from Dems.

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

    I’m close. Still only 75% stocks in my 401K. Very close to going to 50%.

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

    What’s to turn around? The healthcare industry is ecstatic about the current situation they find themselves in. The US is the absolutely most lucrative place to practice healthcare in the world!

  53. Fast Eddie says:

    Gary will be too busy admiring the savings from not having to pay premiums, co-pays, coinsurance, deductibles in network and out, balance billing, upcoding etc.

    Those so-called savings will go into the pocket of some crony-in-law who got the job through nepotism while you and I die waiting for a small procedure because some drug-addled, overweight, 38-year old d0uchebag needed extensive care usually reserved for an 85 year old. What’s left will go towards a “consultation” with some f.ucked up 22 year old who is considering gender reassignment. Little good the consultation will do as the assistant counselor and the co-assistant to the counselor cash their tax-extorted paychecks. If you want single-payer, you pay for it. Put your money where your mouth is. Why should any of us wait in line when we’re paying for it?

  54. joyce says:

    Phoenix,

    Clearly, the patient should eat it in your first example. If someone has an infection as a result of the doctor/facility, they should eat it. They have decades of data to determine the percentage of this occurring and can factor that into their price.
    Of course procedures can be billed based on an hourly rate. So if something takes more time due to complications because this patient has a different profile than others, it will cost more. It can even be a mix of fixed & variable costs (as long as it’s disclosed upfront). This is not complicated. The same excuses were made prior to car repair shops being (mostly) forced to present estimates AHEAD of time.

    And what does “your government” even mean?

  55. joyce says:

    No One,
    Rand Paul’s ideas on this are mostly garbage. In one of his bills, he wanted to exempt healthcare providers from anti-trust rules. Indirect proof they are guilty of such as we speak?

  56. Phoenix says:

    The one that is controlled by lobbyists..

    And what does “your government” even mean?

  57. Phoenix says:

    Joyce,
    In my first example. Prove it. How are you going to prove that either way? That is the problem. Plenty of patients that do all of the right things, others that refuse/forget medications that lead to later relapse. Let’s all get lawyers to decide which was actually the case.

    Medicare and insurance companies already do approximate pricing. This is not new and they do have things in place for issues/complications. What you end up with is an average pricing vs individual.

    Another issue, Dr works at small hospital/surgery center. He has 5 knees to do. He does not get bumped by emergency/trauma, he can work all day efficiently. Larger hospital has to tell him he has to wait due to emergency.
    Also, Dr does primary knee in small hospital. Knee gets infected, needs to do revision. Ship it to larger hospital where more intensive care/infections are handled. Who pays and how much?

    One thing I agree upon is the high cost of adminstration/middleman fees. This needs to be addressed.

  58. joyce says:

    I don’t understand why you think disputes over service and scheduling issues are unique to this industry. They are not. Furthermore, why would we want to design a system based on the exceptions?

  59. The Original NJ ExPat says:

    plus they get to score recreational fentanyl – the drug of choice for anesthesiologists at least. Did you know that every class of job in the healthcare industry has a “most convenient and most accessed” drug of choice? Nurses – injectable opiods. Hospital pharmacies have to keep a tight inventory on pills, but multi-dose vials?

    Funny how we will give entertainers and sports figures millions, yet complain when we pay a surgeon or anesthesiologist 200k…

  60. Comrade Nom Deplume, the Newsiest says:

    It seems that a former classmate of mine is killing it as the Fake Mooch. He’ll be on SNL before long.

    http://www.nydailynews.com/entertainment/tv/mario-cantone-nails-expletive-filled-scaramucci-impression-article-1.3364776

  61. Comrade Nom Deplume, the Cure for Moanaism says:

    “I like all the profanity, it’s a change of pace.”

    I want to see fistfights in the well of the House.

  62. Bagholder says:

    And more giveaways:

    “The president’s budget proposal includes six weeks of paid leave for families after the birth or adoption of a child.

    “Providing a national guaranteed paid-leave program — with a reasonable time limit and benefit cap — isn’t an entitlement, it’s an investment in America’s working families,” Trump wrote in a Wall Street Journal op-ed. ”

    Paid leave, healthcare, us paying for the Wall,…….going to add up. Not sure he’s going to eliminate the deficit in eight years after all.

  63. chicagofinance says:

    Beyond all the outrage and protests about the tranny ban by Trump is the inconvenient question not asked? How many tranny enlisted because they wanted the c-ck chop or the vag seal, and wanted Uncle Sam to fork over the Benjamins for it…..none? yeah…..bullshite…..

    Fast Eddie says:
    July 28, 2017 at 2:12 pm
    Gary will be too busy admiring the savings from not having to pay premiums, co-pays, coinsurance, deductibles in network and out, balance billing, upcoding etc.

    Those so-called savings will go into the pocket of some crony-in-law who got the job through nepotism while you and I die waiting for a small procedure because some drug-addled, overweight, 38-year old d0uchebag needed extensive care usually reserved for an 85 year old. What’s left will go towards a “consultation” with some f.ucked up 22 year old who is considering gender reassignment. Little good the consultation will do as the assistant counselor and the co-assistant to the counselor cash their tax-extorted paychecks. If you want single-payer, you pay for it. Put your money where your mouth is. Why should any of us wait in line when we’re paying for it?

  64. ex-Jersey says:

    3:39 saw his act in an NYC Club back in the early nineties….funny funny man. slightly angry.

  65. Bagholder says:

    ‘ban by Trump is the inconvenient question not asked?’

    I thought you were going with how a draft dodger is banning military volunteers. Politically I understand why he’d do it, but the irony is thick.

    Scaramucci’s coke-fueled rant already paying dividends: got Priebus fired and got his wife to leave him.

  66. Grab them by the puzzy says:

    @kurteichenwald

    Has there ever been a White House chief of staff fired so quickly into an Administration?
    What a clusterf.

  67. Grab them by the puzzy says:

    @MarkHarrisNYC

    John McCain prefers Presidents who weren’t captured by Putin.

  68. The whitest guy says:

    If the only way one can figure out how to change their gender was to join the military and get it done in the VA. Well I would hope that would qualify you for no higher than the infantry. Personally, the last place I would think about going if I felt like a woman was the recruiting center.

  69. Grab them by the puzzy says:

    @PageSix

    EXCLUSIVE:

    Anthony Scaramucci’s wife has filed for divorce

  70. chicagofinance says:

    Family Entertainment Coming To A Theater Near You (clot Edition):
    https://www.youtube.com/watch?v=d5h7Kgo-zeI

  71. Blue Ribbon Teacher says:

    ARLP raises dividend….there’s my home run for the year.

  72. JJ fanboy says:

    First

  73. The Great Pumpkin says:

    Real life Iron Man? Only time will tell, but it’s really starting to look like it. He has pushed the levels of progress in technology to unheard levels. Say what you want about him, but he was born to change the world. Still scratching my head as to how he has pulled off what he has already accomplished in such a short amount a time. What he has accomplished in 10 years would take most a lifetime or two to pull off. Crazy.

    “The rate of the Model 3’s production ramp up has never been accomplished, even by high-volume automakers with far more experience,” Karl Brauer, executive publisher for Kelley Blue Book and Autotrader, said in an email. “Musk’s fans already see him as genius inventor Tony Stark. A year from now, if he hits the goal and is selling half-a-million cars to overwhelmingly satisfied customers, even the skeptics might dub him Iron Man.”

    https://www.bloomberg.com/news/articles/2017-07-29/musk-sees-going-through-hell-on-way-to-meeting-model-3-targets

  74. Chi says:

    Megalomania combined with an unlimited checkbook can do wonders. Sense of entitlement is stunning

  75. chicagofinance says:

    Two things are infinite: the universe and human stupidity; and I’m not sure about the universe.

    Albert Einstein

  76. Blue Ribbon Teacher says:

    Real life Iron Man?

    Absolutely. Tony Stark’s whole business was founded on government spending.

  77. The whitest guy says:

    Elon Musk is no Henry Ford. Not even close. Remove the subsidies and government mandates and the whole concept of battery powered cars disappears.

  78. The Great Pumpkin says:

    Whether you get it done privately or publicly is besides the point. It’s about whether you get it done or not. Elon musk is just smarter than the rest. He knows the biggest r & d dollars are in govt. Govt are the only ones willing to take a big risk without a significant monetary return. To push progress, sometimes you need that. Some businessmen will not invest in something unless they see a hefty return….this kind of mindset sometimes holds back progress.

  79. The Great Pumpkin says:

    Internet would have never came about in privately invested hands. They would have saw the cost to create not worth the return on investment. Took a good 50 years for humans to discover the economic potential of the World Wide Web. Therefore, would have been impossible to develop in private hands, hence, why public dollars developed it. Public dollars invested to create the economic tech hub that carries the future economy. Good investment.

    Both public and private play a role in our economy. Each serve their purpose.

  80. chicagofinance says:

    You stupid fuking a$$hole……Elon Musk is not taking any risk….he is failing over and over……crony capitalism at its finest, with a Jim Jones Kool-Aid kicker…….

    Proof positive of the Ponzi
    https://www.tesla.com/solarpanels

    The Great Pumpkin says:
    July 29, 2017 at 10:39 am
    Whether you get it done privately or publicly is besides the point. It’s about whether you get it done or not. Elon musk is just smarter than the rest. He knows the biggest r & d dollars are in govt. Govt are the only ones willing to take a big risk without a significant monetary return. To push progress, sometimes you need that. Some businessmen will not invest in something unless they see a hefty return….this kind of mindset sometimes holds back progress.

  81. Not ChiFi aka the Rockefeller'sU says:

    ChiFi,

    Whether or not Musk is on the public teet is moot. The issue is the outcome. His outcome are much better for humanity’s progress than:

    2010 -ObamaCare Big Insurance/Big Pharma/Big Medical Bail-out.
    2009 – Bankster’s Bail out.
    Iraq War – Military Industrial Complex Bail-out

    Elon Musk Public teet access means:

    Into the stars faster
    Out of the middle east goat f*ck*r’s world sooner
    Less money going to a public utility monthly for energy.

    It’s sort of pay the NJ Turnpike and ride all the way from the GW Bridge to Delaware or drive free in Route 1/9.

  82. 3b says:

    I thought Elon Musk was a man’s cologne.

  83. Blue Ribbon Teacher says:

    Getting what done. Fordmade cars affordable for the masses. Musknused govt funds to make toys for rich people.

  84. Blue Ribbon Teacher says:

    Tesla is completely incapable of slmaking a single dollar in profit. I love how lfties hate tax cuts but chceer on subsidies hich are a tax cuts to zero plus free money.

  85. JJ fanboy says:

    3b wins line of the day

  86. Phoenix says:

    Although I get this comment and there may be some truth involved it does appear that they are not getting something for nothing.

    Look at the profit/lack of risk of those who used deferment/draft dodgering to avoid doing service at all.

    Then look at the guy who flew over Vietnam-was captured. Look at what the president said about him (he is a hero). Then he recants when he becomes ill, now when he votes the way he believes he is once again chastised.

    “Beyond all the outrage and protests about the tranny ban by Trump is the inconvenient question not asked? How many tranny enlisted because they wanted the c-ck chop or the vag seal, and wanted Uncle Sam to fork over the Benjamins for it…..none? yeah…..bullshite…..”

  87. chicagofinance says:

    I understand your point, but I fundamentally disagree with you. The entire Musk/green energy initiative is a pure artificial construct…….as opposed to your examples, I would describe it more along the lines of building the new electric New Jersey Turnpike that was toll free, but uses toll funds from the actual NJTP. Meanwhile, the feds and Trenton divert funds from roads and bridges to maintain this special road, only to be used by people who could afford it……on everyone’s electric bill, natural gas bill and oil bill in NJ, there would be a special charge so each person would know how much extra they were paying a month so that rich people could drive from NYC to Philly in 90 minutes…….in addition, there would be no state trooper enforced speed limit on the road……if they need eminent domain for the footprint, so be it…….all losses are secured by taxing the public, all gains go to Elon Musk and his cronies……

    Not ChiFi aka the Rockefeller’sU says:
    July 29, 2017 at 12:01 pm
    ChiFi,

    Whether or not Musk is on the public teet is moot. The issue is the outcome. His outcome are much better for humanity’s progress than:

    2010 -ObamaCare Big Insurance/Big Pharma/Big Medical Bail-out.
    2009 – Bankster’s Bail out.
    Iraq War – Military Industrial Complex Bail-out

    Elon Musk Public teet access means:

    Into the stars faster
    Out of the middle east goat f*ck*r’s world sooner
    Less money going to a public utility monthly for energy.

    It’s sort of pay the NJ Turnpike and ride all the way from the GW Bridge to Delaware or drive free in Route 1/9.

  88. The whitest guy says:

    Thanks ChiFi. The truth is, none of us will EVER be driving a non-government subsidized battery powered car. So far, all I’ve seen from Tesla is toy cars affordable for the rich. Musk has made an art form out of over promising and under delivering. The only thing he has going for him is that the same retards who ran out and brought a Prius think he’s going to save the world, much like Toyota marketed the same gimmick to sell a lot of generally average cars. Ever factor in the frequent need to replace tires (and extra you’ll pay for them since they are low resistance)? Ever factor in how crappy the car is in the snow? Musk has more in common with Donald Trump than he does with Bill Gates. Think about that.

  89. PumpkinFace says:

    I’ll simplify it. He has critics because there’s article after article praising him for things he CLAIMS he’s going to do and things he MIGHT do. Can we press pause on this conversation for another year?

    “A year from now, if he hits the goal and is selling half-a-million cars to overwhelmingly satisfied customers, …”

  90. PumpkinFace says:

    Was trying to just bold “A year from now, if”

  91. Phoenix says:

    Cfi Musk analogy spot on.

  92. Phoenix says:

    Whitest guy,
    What makes you believe a Prius is a gimmick? I will agree it is pretty much an average car. It is also far from being an “electric” vehicle. It has a small battery. All a Prius does is convert braking energy (normally turned into heat and wasted) and gives it back when you accelerate. Also it has a weaker but more efficient engine. Not really a gimmick at all. Does it “save the planet”? I guess you would have to figure out if from a manufacturing standpoint does it do more environmental damage vs a conventional vehicle.
    I own one. Live in a very hilly area. What it basically does is take a hill and make it flat.
    Fuel economy is very good. Extremely reliable commuter car. Hermetically sealed compressor (less AC recharges due to seal leakage) like in a refrigerator. Relatively roomy, useful but bland car.
    I bought it to save money. Gas prices are lower now but it has already paid for itself. Car is approaching 90k and still does not need a brake job. I drive it like a normal car-no hypermiling and get 48-49 mpg. I travel far to work so it is helpful.
    Thanks to NJ law, the battery has a 150k mile warranty. Oil change every 10k with synthetic.
    This is not a Tesla by any means and is not marketed to the same demographic.
    I also lived through the 1973 Oil embargo. It is nice to have a car that needs less fuel for many reasons. When I purchase a car I purchase based on purpose, reliability and cost.
    I feel I have done well with my purchase.

    I don’t believe Musk is going to save the world. Nor do I believe Musk and Trump have more in common than Gates. You can thank the many blue screens for that…

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