From the Philly Inquirer:
Beware, Philadelphia: Amazon could drive up housing prices
When Amazon announced its search for a second North American headquarters, government officials, developers, and residents in cities nationwide embraced the prospect as decidedly good news.
Including many in Seattle.
While cities began immediately plotting ways to reel in the online retail giant, Seattle, for the first time in years, was catching its breath. After years of skyrocketing real estate prices, unprecedented development, and a record-breaking number of cranes in the sky as a result of Seattle’s tech boom, Amazon’s plan to expand elsewhere offered the city, finally, a reprieve.
Granted, Amazon’s presence has been extraordinary for Seattle. Since the company began building its campus there a decade ago, Amazon has provided jobs, investment, and a reputation that Seattle never could have imagined. Today, 40,000 well-paid employees bustle around the company’s urban campus. Amazon has built and rented 8.1 million square feet of downtown office space. At least $3.7 billion has been invested in the local economy. And Amazon’s presence has persuaded other tech companies — Uber, Airbnb, and Zillow — to locate in the city.
But with prosperity have come profound costs. By some measures, Seattle has become the fifth-most-expensive U.S. city and the ninth-priciest worldwide. The median price of a single-family home or condo in Seattle was $522,000 in August, according to real estate company Redfin, a 67 percent spike from April 2010, when Amazon opened its headquarters. Last month, the median rent for a one-bedroom jumped to $1,380, according to Apartment List. And a Seattle Times analysis found that Amazon occupies 19 percent of Seattle’s office space — putting more pressure on office rental prices, some argue.
…
Yet Amazon’s impact on Seattle’s housing market is undeniable, raising the question: Could Amazon create the same affordability crisis in its next location?“Every city will be confronted with this if Amazon chooses it,” said Nela Richardson, Redfin’s chief economist. But, “it gives cities the opportunity to define it. … To talk [in their proposals] about how the city could manage this growth.”
bezos is a cuck
From an infrastructure standpoint, the midwest makes the most sense. Pittsburgh, Cleveland, Detroit all have depressed economies and slack in housing and infrastructre and could absorb a large company(though 50k is a mind boggling number).
I still predict they open up shop in TX, though. Open space, good schools and low regulation are all in its favor.
I hate Phil Murphy
Phil Murphy will put another Christie in power in four years.
Fab…there are some good 14-year old refs and there are some terrible ones. Frequently, there’s a senior ref and a kid working together. Too often, the senior has mailed it in and the kid is trying really hard to improve their game. Where the kids tend to blow it is in two places. First, they often hesitate before calling a penalty frustrating everyone unnecessarily. Second, they don’t understand the concept that the ref is always right. The old guys could care less if their calls are bad or if the players give them lip. The young guys think their calls are open to interpretation. There’s one kid who is probably the best official in the system. He’s slightly pudgy and is probably about 16 now. He GETS it.
The truth is, there are only two ways to call a game and the tone should be set early. Either you are going to call everything, or you are going to let the kids play. I prefer the latter, but don’t mind the other. I rarely blame results on the refs. What comes around, goes around. When my son’s team loses to what they think is a bad call, I always tell him that he has two teams to beat. The opponents and the refs.
If your girl plays with the Blues, there’s an excellent c0ach in Tobias Schraven who played pro in Germany. Though, he doesn’t discipline until kids are about 12 or 13. He is a snowflake parent prior. His kid (our goalie) threw his 3rd place medal in the trash and refused to shake hands after the state semi-final two years ago. My kid wouldn’t play again if he showed such lack of sportsmanship.
Yup, would love me some Amazon here. Drive up that house price so I can get out of Dodge with a profit.
Now THIS is how to Nompound!!!!!
http://www.msn.com/en-us/money/realestate/secrets-of-the-billionaire-survival-bunkers/ss-AAqAQHB?li=BBnb7Kz&ocid=UE07DHP#image=31
I hope amazon doesn’t pick dfw. Housing is already up 40% in the last 5 years and the area is noticeably more crowded.
Pittsburg, Cleveland, Detroit.
No, No, No.
Ohio has the edge, but it’s Columbus not Cleveland. Columbus being the defacto standard for single-location e-commerce distribution. There are tons of e-Retailers operating out of the Columbus area, including Amazon. Issue is, it’s way smaller than they want … Cleveland is too.
Re: Amazon, Xanadu is built and ready for occupancy. All they have to do is slap one of those bent skinny pen1ses–excuse me, I mean their smiley face logo–on that ski slope thing and they’ve got the most valuable billboard in America.
“Columbus being the defacto standard for single-location e-commerce distribution”
Yup! And Ohio State cranks out a lot of decently educated recruits. Heck, Ohio alone has over half a million college students currently enrolled. Combine this with one of the lowest real estate costs in country and bazinga.
These and other incidents appear to be part of the effort to undermine Trump from within the government, and they give rise to a growing belief that America is infected with a “deep state,” a malevolent permanent bureaucracy that feels entitled to power and will stop at almost nothing to keep it.
I have been reluctant to reach that conclusion, believing that “deep state” is a more fitting concept for a Third World country that has corrupted institutions and no rule of law or history of individual freedom.
But I’m beginning to wonder. The more we learn about the last eight years and eight months, the more reason there is to believe that something is rotten in Washington.
I don’t just mean the ordinary corruption of the swamp variety. I mean something fundamental, something that suggests major elements in our government believe they, and not the people, are sovereign.
http://nypost.com/2017/09/19/wiretaps-may-prove-trump-right-and-thats-absolutely-terrifying/
Only Midwestern city with a chance to score HQ2 is Chicago. Amazon makes clear access to mass transit is a core preference and having an international airport with direct flights to Seattle is an important consideration. Chicago has both; Ohio cities have none.
Isn’t it obvious? As long as Snowden is a traitor and not a hero, this will continue to be an issue.
Nothing west of the Mississippi makes much sense to me, so Chicago is more realistic than Texas.
Something crazy like Miami would indicate a massive push into Latin America.
“In other words, the two most conventional explanations for rising inequality and falling wages might both be correct. A perfect storm of robots and free trade — and some monopoly power to boot — could be shifting power from the proletariat to the capitalists. With all these factors at work, maybe the real puzzle is why workers aren’t doing even worse than they are.”
https://www.bloomberg.com/view/articles/2017-09-20/why-workers-are-losing-to-capitalists
Yo…Colombus is a 56 gate int’l airport with plenty of room to expand. Their bus system is award winning. On days of football games, half of the roads are closed and only buses are allowed to run. It’s pretty wild to see a city shut down completely for a football game. It’s a very different culture for sure.
We were told FISA warrants were needed so they could “hunt terrorists”. Not for political witch hunts. It has become exactly what we feared.
Manifort is a patsy and he was used as an excuse to spy on a political opponent.
What’s next? Russia didn’t hack democrat emails?
What ever happened to the first lady living in NYC and those projected costs. What ever happened to the impeachment trial which was sure to happen? Oh right…these were WAPO stories. The left’s answer to Fox News.
Amazon is not talking distribution, rather second headquarters. Tech, management, legal, professional services. Worker mobility, high quality of life, international airport, universities, job growth and business friendly environment matter. Not logistics, warehouse jobs, or real estate cost (incentive package takes care of that). A specific criterion was a location with the “potential to attract and retain strong technical talent.”
BS walking dead cities with zero appeal to any professional let alone tech professionals like Detroit, Cleveland, etc are exactly what they do not want. This is not an urban redevelopment project. Plus, bankrupt cities are not business stable (another specific criterion). State and local finances are one reason one could strike an otherwise appealing Chicago. I think Midwest/East to keep some geographic diversity.
On the real estate cost the incentive bidding is combined state/city. It has to be. The package that Amazon wants to see needs enough concessions where dual participation and true partnering is required. Too bad for NJ. It could be a prime contender. But, the State would need to back one option hard. No one minding the shop now in Trenton so I’m discounting NJ.
Throw it all in the mix and what comes out?
Boston, NY, DC (VA), Raleigh, Austin, Denver and maybe Atlanta and Philly. Tough call among those. NY may be for real, they’ve shown (yes, prior administration) they are willing to make major moves for tech (won Cornell Tech bidding by giving them Roosevelt Island). NY has also said it will be very financially aggressive (unlike Boston, who publicly stated they won’t participate in a bidding war).
I’m thinking short list NY, Austin and Denver. If you want to bet a long shot, Nashville.
I’m betting the final decision comes down to the exact physical location in a city and the incentive package. How cool would it be if NYC could clean out the other side of Roosevelt Isl and throw Amazon there along with a few extra buildings for other interested companies? Build the whole damn island out as tech education/headquarters. Wow.
He gets my vote for cuck of the century:
https://www.youtube.com/watch?v=lgTydr4gAaI
And they could recruit from Riker’s, right next door.
Sand Bar Road could be the main thoroughfare lol.
Huge opportunity for NYC. Much better than that lame ass marketing campaign of “Silicon Alley”.
So, our resident man-child who furiously pedals an intellectual tricycle has *finally* come to the conclusion, late last night and approaching 40 years old, that tax rates affect growth.
That is not the face palm moment.
Look at the “logic”. Sweet Lord.
The Great Pumpkin says:
September 19, 2017 at 10:14 pm
Wow, never thought of taxes as a tool for inflation. Makes perfect sense now that I think about it…
Just think about it….the higher the taxes, the more it takes out of circulation, hence, killing growth. The lower the taxes, the more the fed puts into circulation, leading to high growth with eventual inflation to ruin the party. And this is only talking about taxes at the fed level since they control the currency.
I am predicting one of the towns north of Dallas. Toyota, State Farm, and liberty mutual have already or are in the process of moving to that area.
Or midlothian Texas. A rural town about 30 minutes south from both Fort Worth and dallas. The 2 major highways that go through midlothian are going through a huge expansion. 360 is getting an expressway built down its median allowing commuters to skip all the traffic lights on the current 360 that goes through Arlington and Grand Prairie. I drove through midlothian over the weekend and there are new signs up advertising midlothian business park, just a few minutes off of 287. There are tens of thousands of acres of ranches and farms
Dfw airport ranks in the top 5 for passengers in the US plus Luv field is nearby. The area also has lots of tech and finance and several universities.
You heard it here first Midlothian, TX.
Have we reached a turning point in the United States?
@nowthisnews
These Black Lives Matter activists were invited on stage at a pro-Trump rally – and every American needs to hear what they said
10:03 PM – Sep 18, 2017
https://twitter.com/nowthisnews/status/909961001876910080
Genius, explain to me why this does not apply at the state and local level?
leftwing says:
September 20, 2017 at 11:10 am
So, our resident man-child who furiously pedals an intellectual tricycle has *finally* come to the conclusion, late last night and approaching 40 years old, that tax rates affect growth.
JJ Fanboy, you ran from Jersey because of some so called pension debt that is not due for 30 years, but you are not afraid of this type of growth and the enormous problems that come with it? I just don’t get it.
Do you understand how fu!ed texas is in 10 years? They hardly regulated the development, just wait to you see all the garbage they got away with behind the scenes that will come to view in 10 years. I could only imagine.
It’s all peaches and cream when you let developers do whatever the f’uck they want because you are addicted to new tax revenue and population growth, but what happens when the population growth stops? Who will pay for all the crap created by an unregulated environment for developers and builders? Who? That’s right, you. By that time, you will be priced out of jersey and unable to afford the move back. Good luck.
Pumps,
Why would I take real estate advice from a guy who lives on a highway?
Fanboy,
You really think I would buy on a highway? The house across the street from me sold for 1.275 million in the past year. Who would buy that on a highway? Don’t listen to idiots like expat. They have hate towards me and will put me down for anything. They don’t like someone like me that ruins their circle jerk and points out where they are wrong.
Pumps,
my neighborhood is up over 40% in the last 5 years. How much has your patch of paradise gone up since 2011?
Fanboy,
I get rid of the leaves on my front lawn by blowing them into the woods across the street. How the hell would I do that on a busy road that is 45 miles an hour? I am able to do it because there is not a constant flow of cars on my road. Sometimes go 3 minutes without seeing a car during the day and at night, there are hardly any cars except when people go to work and leave work. Believe or don’t, I really don’t care. Just sick of expat and his bs.
Pumps, isn’t that illegal dumping?
And yes, based on many of your comments I do see you buying a place on a higheay
And who will see accumulation long term? Will your homes even maintain this 40% gain you have seen with unlimited land? Plus, texas homes go to shi!, it’s a known fact that their foundations are a joke. So if you want that 40% gain, lock it up, and sell. Don’t think this will continue.
JJ fanboy says:
September 20, 2017 at 1:09 pm
Pumps,
my neighborhood is up over 40% in the last 5 years. How much has your patch of paradise gone up since 2011?
*appreciation
Pumps,
You avoided both my questions.
What has your place appreciated
And if you didn’t have a permit to dump leaves on public land or permisssion from the landowner if those woods are private what you did is illegal
It appreciated about 8-9%. I didn’t buy the house to make a killing, it was turnkey, practically a new house besides the foundation, framing, and driveway. Everything else was brand new and high quality. So you pay a premium for that. That’s why I look at it as a good price. Every new house I looked at would have cost me more with crappy basic material. I would have been getting a small lot, instead of the 3/4 quarters of an acre I have. I also have no neighbors behind my house, just woods (state owned land-creek goes through the woods to pines lake). Also have woods directly across the street…..to the right of the woods is the house I spoke of in the other post.
And I’m blowing leaves, kill me. Blowing leaves into woods…..are you becoming like expat and busting my balls on bs?
Don’t take my posts about Texas personal. It doesn’t mean I’m right. I’m just questioning if you see the potential for problems down the road.
Pumps, it does.
Supply/demand curves. Concepts that have been around and in practice longer than most organized religions.
Oh, and BTW, your comments regarding irregularities in development in TX are really humorous give that, what, 1 in 3 residents of Hudson County eventually develop cancer? And massive swaths of Morris County are built atop leaching pharmaceutical dumps that no one even wants identified? And new construction here is mostly low end pvc so developers can make a return after dirt cost? Add another zero clearance beer can inside your walls with a faux front so you can keep telling yourself you’re wealthy. LOL.
I spent a week in Frisco north of Dallas recently and actually observed the growth there firsthand. Well planned and attractive. Greenfield construction. Greenways down the middle of major thoroughfares. No chromium, no rusting 55 gallon drums from Lucent-Chevron-CIBA, no underground fires burning for days (as happened recently in one NJ Monthly ‘top place to live’ and ‘top school’ town).
Yawn.
But like all markets, do you really expect your area to go another 40% in 5 years? That’s crazy if it does happen. I think you saw your appreciation already with the huge droves of buyers that have been coming through. Once those buyers stop coming in droves, I would be really scared that the price doesn’t drop. Just like stocks, you sell into the masses, and buy when they run.
I’m not touting wayne or paramus because I live in one town and they are similar. I’m touting them because of market fundamentals. You know I’m into cycles. What has a better chance of appreciation, a place that just went up 50% in five years, or a place that has basically been stagnant for 5 years. If that other place saw a 50% rise, how much more can it go up without the place that was stagnant looking like a complete and utter value? It didn’t rise 50%, so it now has become a value. So I’ll take my bet on places like Paramus and Wayne seeing the appreciation that other nj locations have. People run on human nature, it’s only natural that the places that don’t rise in price become a value to a certain group of buyers that have been priced out of the areas that have appreciated.
“You know I’m into cycles.”
Yes, we know. I said it earlier. Everyday you pedal furiously on an intellectual tricycle.
Pumps. You will see the impact that fixing the pension will have in the next four years. Without the longest bull stock market in history, the problem would have been much, much more dire. Instead, the projected implosion of 2019 might not occur until 2020 or 2021, though I’m betting on a market correction sooner, rather than later. Remember when the tech bubble crashed, way to many people had too many of their eggs in tech. Now they have their eggs in the FANGS. Murphy will make the mistake of trying to fill the hole in the pension, rather than make it less generous, which most know it already is. Bend over for real with this guy. And what’s his political experience? He did a complete sh1tty job as an ambassador. Now that’s really a hard job to fukc up. Somehow, he managed to.
@Business
Trump aides caught up in the Russia probe are living with legal bills and paranoia
“Preparation for testimony before a single congressional committee can cost $20,000 to $50,000 in legal fees — and some of those involved in the Russia investigation may be called before multiple panels.”
Pumps,
The dfw area is expected to increase by 1.7 million people over the next 10 years. Raw land has gotten so expensive that builders are pushing out into the rural areas while in filling is going on in most built up surburbs or the square footage of single family homes is going up. And the schools in the nice suburbs are very good and most school buildings are less than a decade old. So I have no idea what the appreciation rate will be, I am pretty positive it will beat Wayne.
And the newer suburbs are very nice. Lots of parks, big green medians along the major roads, bike lanes. Some even have walkable areas.
And what will happen to nj real estate if the tax code is changed and you can no longer deduct mortgage interest, property taxes, and state income tax?
Why would you blow leaves across the street? Doesn’t your town pick them up? Why not just mow over them. It’s healthier for your lawn anyway.
I don’t get why financial talking heads get their panties in a bunch over the Fed’s balance sheet and how the world will end if they let any of it run off. We’re already used to 0.25% raises. Letting $50 billion a month roll off is like a 0.025% raise, plus they have the latitude to put these little micro-jacks anywhere along the yield curve they want.
In a nutshell, 10 months of letting $50 billion per month run off is equal to a single 0.25% raise.
BRT
Not all towns do leaf pickup.
But his town does. Weekly.
I didn’t know that.
Pumps either mulch those leaves or have them get picked up. If the leaves in the woods are too thick they can smother plants and damage the ecosystem of the woods.
I hate leaf blowers!!
Me too, except for mine.
I have no issue with blowing leaves in October. The rest of the year, they should ban those things. The Mexicans blow ever crumb of compost off of the lawn which looks fantastic until they leave and it all blows back. What a colossal waste.
Pumps,
Are you not able to stop yourself from responding to the taunts? More and more I feel like you are secretly enjoying the treatment you are receiving. Sadly, there is simply no going back from your current blog status. Accept it. Sh!t, even I hate you and snicker at the beatings. But defending yourself daily from some anonymous poster is pretty pathetic. Just let it go.
Hi HI
http://recoverperu.org
Growing grass, so can’t mow yet. Don’t want the leaves to smother the new grass. Plus, i already fertilize and also feed the soil. This has prob been the best weather to grow grass in years.
Blue Ribbon Teacher says:
September 20, 2017 at 2:18 pm
Why would you blow leaves across the street? Doesn’t your town pick them up? Why not just mow over them. It’s healthier for your lawn anyway.
For sure. I make sure to blow them evenly, so it’s not thick piles of leaves smothering the plant life.
JJ fanboy says:
September 20, 2017 at 3:00 pm
I didn’t know that.
Pumps either mulch those leaves or have them get picked up. If the leaves in the woods are too thick they can smother plants and damage the ecosystem of the woods.
Texas has ton of energy industry destroying their environment. Come on.
That’s the ying/yang, if you want said industry there for jobs, understand it comes with a cost. NO FREE LUNCH.
“I spent a week in Frisco north of Dallas recently and actually observed the growth there firsthand. Well planned and attractive. Greenfield construction. Greenways down the middle of major thoroughfares. No chromium, no rusting 55 gallon drums from Lucent-Chevron-CIBA, no underground fires burning for days (as happened recently in one NJ Monthly ‘top place to live’ and ‘top school’ town).
Yawn.”
Lefty,
You do understand that Texas has a problem with foundations, right? You need to get it jacked in 10 years. The things they don’t tell the people coming. They have to find out the hard way. Most of those Texas homes are sinking.
Lefty,
This is not meant as an attack, but just trying to understand the source of your hate for jersey. Does it have to do with your ex? She drag you to jersey and now that has made you hate this place? Like a constant reminder of what you hate about her? Just trying to figure you out, so I can better understand where you are coming from. And try to see the world through your eyes.
Lib,
Just give him a chance. If you think it’s unfair how Trump is currently being treated by not being given a fair shot, don’t do it to Murphy. No one knows what will happen. He really could be good for this state. He is already loaded, maybe he wants to build a legacy.
Libturd sporting Tiger Wood says:
September 20, 2017 at 2:01 pm
Pumps. You will see the impact that fixing the pension will have in the next four years. Without the longest bull stock market in history, the problem would have been much, much more dire. Instead, the projected implosion of 2019 might not occur until 2020 or 2021, though I’m betting on a market correction sooner, rather than later. Remember when the tech bubble crashed, way to many people had too many of their eggs in tech. Now they have their eggs in the FANGS. Murphy will make the mistake of trying to fill the hole in the pension, rather than make it less generous, which most know it already is. Bend over for real with this guy. And what’s his political experience? He did a complete sh1tty job as an ambassador. Now that’s really a hard job to fukc up. Somehow, he managed to.
http://texashomeandgarden.com/idea-center/common-foundation-problems-texas/
Lib,
In the era of index funds, is there really a huge risk with FANG? People just contribute no matter what and never pull out. This has to have an impact on reducing the risk with those specific stocks, since so many are tied to them. Plus, it’s hard to ignore that these companies are the future. The amount of knowledge power they possess is mind blowing.
Guy makes some good points. People wasting time protesting nonsense when they should be thinking about starting a business. Smart for a boxer.
https://m.youtube.com/watch?v=sG33DxHuCdY&feature=share
Sounds like what’s happening now.
“The final stages of capitalism, Karl Marx predicted, would be marked by global capital being unable to expand and generate profits at former levels. Capitalists would begin to consume the government along with the physical and social structures that sustained them. Democracy, social welfare, electoral participation, the common good and investment in public transportation, roads, bridges, utilities, industry, education, ecosystem protection and health care would be sacrificed to feed the mania for short-term profit. These assaults would destroy the host.”
Pumps has no neighbors across the street. Highway lots often go undeveloped for decades for obvious reasons.
Why would you blow leaves across the street? Doesn’t your town pick them up? Why not just mow over them. It’s healthier for your lawn anyway.
A New Jersey man who made headlines in 2013 when he won a $338million Powerball jackpot has been arrested on suspicion that he sexually assaulted a young girl for three years.
Pedro Quezada, of Wayne, has been charged with counts of first- and second-degree sexual assault and endangering the welfare of a child.
Passaic County Prosecutor Camelia Valdes said Wednesday that the victim was between 11 and 14 when the assaults occurred. Quezada was living in Passaic at the time.
That’s the difference between Passaic County and Bergen County. Bergen County abusers are too smart to get caught.
Buy Material Stocks today. It might be too late to get into NGLOY, but…
Disclosure, I already own these:
ALB
NGLOY
AVY
PX
DWDP
What I like for today:
IFF
APD
PKG