Nerdwallet? More like Emptywallet.

Insanity from Nerdwallet – clearly the housing market is getting bubbly:

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73 Responses to Nerdwallet? More like Emptywallet.

  1. Phoenix says:

    First

  2. The Great Pumpkin says:
  3. JJ fanboy says:

    Graphs are pretty.

    The only way someone making 120k a year can afford a house that costs more than 600k is if they inherit it.

  4. Yo! says:

    I’m tired of these home price to income ratio charts. This analysis ignores wealth. In the US, 1 of 7 white households enjoy net worth’s of more than $1,000,000 (source: Washington Post analysis). State figures aren’t available, but I’m sure in NJ the ratio is more like 1 in 5. That is why 40% of recent home buyers in NJ don’t use mortgages (source: attomdata.com).

  5. Yo! says:

    JJ Fanboy, many buyers of suburban houses have $100s of thousands in tax free home equity in their urban condos to put toward down payments.

  6. The Great Pumpkin says:

    Failure is the key to success

    A little motivation for my pessimists.

  7. The Great Pumpkin says:

    Yes, wealth changes that equation drastically.

  8. The Great Pumpkin says:

    I bought a cheap home based on my family income and net worth. On income alone, we are a little above a multiple of 2. Wife and I are about to both see a significant rise through promotions, so this home price will be on the low side for us based on our income. Should be able to put a significant % of our income towards investments. Just hope our health holds up.

  9. Phoenix says:

    Towns now have to buy Chevrolet Tahoe PPV. More expensive, less mpg.

    “GM to Discontinue Chevrolet Caprice PPV”

  10. homeboken says:

    “Just hope our health holds up”

    We do not.

  11. exjersey says:

    Damn homie

  12. Libturd sporting Tiger Wood says:

    Oh snap!

  13. Blue Ribbon Teacher says:

    McDonalds just pissed off their most loyal customer base by sending 20 packets of Szechuan sauce to select locations. How much does their stock tank?

  14. The Great Pumpkin says:

    ““It’s still not the level that I would expect it to be, but we’re definitely seeing that tighter labor markets are causing wages and salaries to gradually go up as well,” Rosengren said at a conference of the International Atlantic Economic Society.

    The long-time Boston Fed chief, who’s not a voter on the rate-setting Federal Open Market Committee this year, argued in his published remarks for the “continued gradual removal of monetary policy accommodation.”

    Weighing into the debate over weak inflation and its implications for monetary policy, Rosengren, 60, cautioned his colleagues against concluding that surprisingly slow price rises, despite falling unemployment, signaled fundamental and lasting changes in the U.S. economy.”

    https://www.bloomberg.com/news/articles/2017-10-07/fed-s-rosengren-stands-by-call-for-gradual-interest-rate-hikes

  15. The Great Pumpkin says:

    I don’t know why so many economists are taking the position that this time is different, that the fundamentals of the economy have changed. They have not changed for the long term, don’t get caught overthinking this, which is exactly what they are doing.

  16. The Great Pumpkin says:

    Yo, or anyone else with knowledge of Gold Coast real estate. In your opinion, what will be best performing location in the next 5-10 years? What kind of appreciation do you expect to see?

  17. ex-Jersey says:

    The ritual for his rendezvous was very firm. Champagne, caviar, and an unspoken rule that Weinstein and his date not be disturbed. The pair would sit close, whispering and touching each other suggestively. After dining, Weinstein and a woman would often disappear for a while, exiting the restaurant through a side door.

    SEE ALSO
    Mika Brzezinski ‘can’t go forward’ with Weinstein book deal
    Mika Brzezinski ‘can’t go forward’ with Weinstein book deal
    A fellow server told me: “When a girl arrived waiting for Harvey, we all knew what was in store for her. After a little small talk and a sip of champagne, there would be an ‘office tour’ — usually well past working hours, after which the girl would return looking worse for wear and barely able to finish the glass.”

    One “office tour,” a term we used jokingly, began with a firm order from Weinstein that his table not be cleared, and so the food sat, untouched, for hours. When the uncomfortable girl finally returned about two hours later, they sat down and resumed conversation as if no time had passed, keeping us there until he decided he was ready to leave, often around midnight.

    Many of the women he saw would return for second or third dates. Sometimes, Weinstein and a woman would come back to the restaurant the next morning, with her sporting wet hair and the same clothes.

    As he attempted to charm his guests, he terrorized the wait staff.

    In his signature black T-shirt and jeans, he’d sidle over to one of his two favorite tables in the back. He would almost never look you in the eye, too busy reading the paper or biting off an assistant’s head.

    His food tastes were those of toddler. He’d regularly order “well-done” fries, chopped-up fettuccine, ice cream with extra sprinkles and French onion soup that he would slurp and splatter all over the booth.

    SEE ALSO
    Harvey Weinstein’s brother may have fed exposé to NY Times
    Harvey Weinstein’s brother may have fed exposé to NY Times
    Always, a bottle of still water was expected as soon as he arrived.

    Once, a coworker brought him sparkling water instead. He made his frustration known by attempting to tap her butt to get her attention.

    Inappropriate touching was a habit of his. If you weren’t paying attention and the restaurant was loud, he might lurch at whatever part of you he could reach. Once, while I put in an order at the computer, he barreled up and body-checked me. Then, as if nothing had happened, he barked: “Back. Coffee. Tea. Now.”

  18. Juice Box says:

    Is Hunterdon full of empty mansions? Was out in Lebanon yesterday lots on lots of homes for sale many look like they are empty already.

  19. The Great Pumpkin says:

    Good article that came out this week that explains in simple terms what I was talking about with the debt not being a problem if you understand the system it’s built upon.

    “And because there is so much misunderstanding, Americans are vulnerable to nationalist scare tactics that warn of the perils of relying on foreigners to pay our bills. The truth is, there’s no reason to worry about China (or any other entity) refusing to finance our deficits. In fact, we should think of the government’s spending as self-financing since it pays its bills by sending new money into the economy.

    When there’s a deficit, some of that new money can be traded in for a government bond. What’s often missed in the public debate is the fact that the money to buy the bond comes from the deficit spending itself.

    What isn’t missed is the fact that the government pays interest on those bonds. Lawmakers are obsessed with this line item in the budget, as if it’s akin to a cable bill that keeps taking a bigger and bigger bite out of your household budget. It isn’t. Unlike a household, the government doesn’t have to trim other parts of its budget to make ends meet. Congress can always create more room in the budget by adding rows or widening the columns to put more resources into education, infrastructure, defense and so on. It is purely a political decision.

    Of course, there are real limits to what can be done. No country can commit to large-scale infrastructure investment unless it has the available labor, machinery, concrete and steel. Trying to spend too much will cause an inflation problem. The trick is to adjust the budget to make efficient use of the people, factories and raw materials we have.”

    https://mobile.nytimes.com/2017/10/05/opinion/deficit-tax-cuts-trump.html

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  21. phoenix says:

    It can just print more money as necessary…..
    ” Unlike a household, the government doesn’t have to trim other parts of its budget to make ends meet.”

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  23. The Great Pumpkin says:

    A billionaire that gets it.

    “Consider Kansas, where Republicans recently had the chance to pursue their tax-cut fantasy with an extreme anti-tax experiment. In 2012, they slashed taxes and promised fantastic growth. Instead, their scheme blew a hole in the state budget. The resulting shortfall in revenue forced severe cuts to public education and other essential programs, hurt working families and drove businesses out of the state.”

    http://www.latimes.com/opinion/op-ed/la-oe-steyer-im-a-billionaire-please-raise-my-taxes-20171005-story.html

  24. The Great Pumpkin says:

    Yes, inflation, not bankruptcy like 90% of the population believes.

    phoenix says:
    October 8, 2017 at 12:49 pm
    It can just print more money as necessary…..
    ” Unlike a household, the government doesn’t have to trim other parts of its budget to make ends meet.”
    Jameslew says:

  25. Phoenix says:

    Pumps

    Inflation can cause middle class citizens to go bankrupt..

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  27. Comrade Nom Deplume, whose sole regret is that he isn't Tom Brady says:

    From The Guardian’s article on healthcare rationing in the U.K.:

    “A 22-year-old woman with relapsed acute myeloid leukaemia died after being denied a second allogeneic stem cell transplant. Her doctor said her late relapse and good response to salvage chemotherapy meant there was a 50% chance that a further transplant would have cured the disease. However, the local GP-led clinical commissioning group refused to fund the procedure, which would have used healthy stem cells to try to help her bone marrow, and she received palliative care instead.”

    Now, tell me again how “death panels” talk is just tinfoil hat wingnuttery.

  28. grim says:

    Thaler wins!

    Thanks Chi!

  29. Grab them by the puzzy says:

    yep, extreme right wingers want to make NJ look like Kansas

    wouldn’t just be easier for you guys to move down there?

    The Great Pumpkin says:
    October 8, 2017 at 8:07 pm
    A billionaire that gets it.

    “Consider Kansas, where Republicans recently had the chance to pursue their tax-cut fantasy with an extreme anti-tax experiment. In 2012, they slashed taxes and promised fantastic growth. Instead, their scheme blew a hole in the state budget. The resulting shortfall in revenue forced severe cuts to public education and other essential programs, hurt working families and drove businesses out of the state.”

  30. Grab them by the puzzy says:

    @MattMurphy24

    Mike Pence cost the American taxpayers at least $250,000 today with his pre-planned juvenile stunt.

  31. Grab them by the puzzy says:

    @MaxBoot
    Unable to articulate or advance a coherent agenda,
    Trump prefers to engage in a culture war,
    dividing country for his political benefit.

    @ddale8
    Pence’s stunt likely cost more than $250,000 at minimum.

  32. nwnj says:

    Idiot. The Trump presidency is the reaction to decades of identity politics and not the cause of them. Good luck winning a meaningful election.

  33. D-FENS says:

    Kansas?…puhlllease. Consider NJ…can anyone here really say we have low taxes?

    We are one of the highest taxed states and our budget isn’t anything to brag about.

  34. nwnj says:

    Juice-
    The economy is expanding no question. I see a lot of building going on in western morris both residential and commercial. Whether we in the midst of another misallocation of resources is another question. Owning multiple homes right now is definitely an “in thing” to right now, just watch HGTV.

    Seems like a big risk to me keeping interest rates so low for this long.

  35. STEAMturd questioning the gender of Hillary's Cankle fluid. says:

    So who is working today? Any thoughts on replacing Columbus Day with Black Lives Matter day?

  36. STEAMturd questioning the gender of Hillary's Cankle fluid. says:

    “Thaler wins!”

    This probably explains why ChiFi is always spewing his behavioral economics crap here all of the time. Quite honestly, a solid understanding of marketing, especially behavioral and psychological concepts, such as cognitive dissonance and conformance bias are huge, when it comes to not making costly financial mistakes.

    I could only imagine Moana’s financial track record. Someone who spends his entire day sharing other people’s opinions must be highly susceptible to marketing. Hey Moana? How big of a sucker are you?

  37. The Great Pumpkin says:

    “Instead, Thaler began to keep a list of things that people did that made a mockery of economic models of rational choice. There was the guy who planned to go to the football game, changed his mind when he saw it was snowing, and then, when he realized he had already bought the ticket, changed his mind again. There was the other guy who refused to pay $10 to have someone mow his lawn but wouldn’t accept $20 to mow his neighbor’s. There was the woman who drove 10 minutes to a store in order to save $10 on a $45 clock radio but wouldn’t drive the same amount of time to save $10 on a $495 television. There were the people Thaler invited over to dinner, to whom he offered, before dinner, a giant bowl of nuts. They ate so many nuts they had no appetite for the far more appealing meal. The next time they came to dinner Thaler didn’t offer nuts — and his guests were happier.”

    https://www.bloomberg.com/view/articles/2015-05-29/richard-thaler-the-economist-who-realized-how-crazy-we-are

  38. The Great Pumpkin says:

    Really sums it up right here.

    “There was the other guy who refused to pay $10 to have someone mow his lawn but wouldn’t accept $20 to mow his neighbor’s.”

  39. Grab them by the puzzy says:

    @thedesirina
    The GOP insists that the Vegas shooter’s gun arsenal is “a right,”
    but
    medical treatment for his 500+ survivors is merely “a privilege.”

    Comrade Nom Deplume, whose sole regret is that he isn’t Tom Brady says:
    October 9, 2017 at 5:40 am
    From The Guardian’s article on healthcare

  40. Nwnj says:

    29 shot in Chicago this weekend. 5 dead and 500 for the year. Yet not a peep from the left. Yeah, they care.

  41. Blue Ribbon Teacher says:

    I Maybe he enjoys mmowing his own lawn. Maybe someone who’s willing to do it for 10 dollars is going to do a crap job. Can’t imagine the blade being sharp enough to cut the lawn nicely at that rate.

  42. STEAMturd questioning the gender of Hillary's Cankle fluid. says:

    Black on Black crime doesn’t count. After all, stricter gun laws will mainly impact white gun owners.

  43. Nwnj says:

    I like health savings with increased transparency and competition. Too many fat fvcks and crooks to soci@lize the system. Just look at me Mendez and his buddy. Insiders will plunder the whole damn thing.

  44. STEAMturd questioning the gender of Hillary's Cankle fluid. says:

    If less than 20% of gun crimes are caused by registered gun owners, then how will strengthening gun laws help lower the gun crime rate?

    Moana?

  45. No One says:

    Some people use behavioral economics to remind themselves to be more rational.
    Others use behavioral economics to launch attacks on capitalism, imagining that in their imaginary economy run by an elite group with the power of the state, all economic decisions will thereafter be perfectly optimal.

    Some of the faults I find among the behavioral economists is that they 1)often rely on artificial tests that may not translate into real life, 2) they delight in finding irrationalities, but rarely offer guidance to people about how to be more rational. I’ve read several books in this field, and find some use from them, but what the world needs is more books and effort along the lines of “here’s how to think/act rationally about …”. Rather than “here’s how a lot of people make dumb mistakes”

    I think these days it’s unfortunately used as an excuse for statists to grab more economic power. Behavioral economics could be used for political economy in the same way “climate change” is used to take power over virtually everything.

    BTW I don’t think it’s irrational to refuse to pay $10 for someone to cut your grass, while also refusing to take $20 to cut the neighbor’s grass. Quite simply, there’s a difference in terms of emotional impact and signaling to others between taking care of your own property, and working for others. As an extreme example of the same issue, Pumpkin would probably rather shave his own pubes rather than pay $10 for someone else to do it, yet he would not shave his male neighbor’s pubes for $20. OMG capitalism failed!

  46. The Great Pumpkin says:

    Yes I would take $20 for shaving male pubes! Wage inflation, here I come!

  47. Phoenix says:

    Who want’s death panels? People here want Medicare for all. Not seeing any death panels with Medicare. Medicare pays for just about anything-penile implants, gastric sleeves, hip and knee replacements, cardiac surgery, etc, all with NO LIFETIME CAPS.

    “Now, tell me again how “death panels” talk is just tinfoil hat wingnuttery.”

    Comrade Nom Deplume, whose sole regret is that he isn’t Tom Brady says:
    October 9, 2017 at 5:40 am
    From The Guardian’s article on healthcare rationing in the U.K.:

    “A 22-year-old woman with relapsed acute myeloid leukaemia died after being denied a second allogeneic stem cell transplant. Her doctor said her late relapse and good response to salvage chemotherapy meant there was a 50% chance that a further transplant would have cured the disease. However, the local GP-led clinical commissioning group refused to fund the procedure, which would have used healthy stem cells to try to help her bone marrow, and she received palliative care instead.”

  48. STEAMturd questioning the gender of Hillary's Cankle fluid. says:

    No One,

    I too found the same fault in that lawn mowing example. Where I think the behaviorals win is pointing out the issues of herd mentality.

  49. STEAMturd questioning the gender of Hillary's Cankle fluid. says:

    And what’s with all of the color illustrations on this site? It’s starting to look like the USA Today blog. :P

  50. grim says:

    Thalers contribution can be summed up to something very simple. Economic models that assume humans are rational actors are probably not as accurate as if they didn’t.

  51. grim says:

    Or put another way, nobody ever got rich overestimating the intelligence of the average person.

  52. chicagofinance says:

    When I hear “mow the lawn”, I always go Diceman……so the rational explanation is that the person’s wife is much hotter (more than $10 worth) than the neighbor’s wife.

    No One says:
    October 9, 2017 at 10:53 am
    BTW I don’t think it’s irrational to refuse to pay $10 for someone to cut your grass, while also refusing to take $20 to cut the neighbor’s grass. Quite simply, there’s a difference in terms of emotional impact and signaling to others between taking care of your own property, and working for others. As an extreme example of the same issue, Pumpkin would probably rather shave his own pubes rather than pay $10 for someone else to do it, yet he would not shave his male neighbor’s pubes for $20. OMG capitalism failed!

  53. No One says:

    A lot of economic models are a lot like 11 year boys trying to direct pr0n movies.
    Telling other people how they think they should do stuff that they themselves have never done, and couldn’t in fact succeed in doing.

  54. grim says:

    Sounds a bit like Trump?

  55. No One says:

    99% of politicians and regulators.

  56. leftwing says:

    “@thedesirina
    The GOP insists that the Vegas shooter’s gun arsenal is “a right,” but medical treatment for his 500+ survivors is merely “a privilege.””

    Yawwnn…….you posted exactly this the day of the shooting. You’re turning into a bore, puzzy.

    “Idiot. The Trump presidency is the reaction to decades of identity politics and not the cause of them. Good luck winning a meaningful election.”

    Let the Left keep going down the track they are, nw. Better if they don’t realize it. I pray for them to nominate Warren for 2020. Please. Pleeeeaaassse!! C’mon pvzzy, make it happen, she’s your type’s folk hero. PLEASE?!

    Freaking layup if it happens. The GOP could nominate a rock and it would beat Warren lol.

    Keep beating that same old drum, pvzzy. Really worked out well for your side, eh? LOL.

  57. The Great Pumpkin says:

    What exactly is the “right” way to think about something or do something? There is no right or wrong answer, it’s all bias.

    “what the world needs is more books and effort along the lines of “here’s how to think/act rationally about …”. Rather than “here’s how a lot of people make dumb mistakes””

  58. The Great Pumpkin says:

    Agreed.

    This is where the Ayn Rand types fail with their models. They expect everyone to behave in what they assume is based on logic.

    grim says:
    October 9, 2017 at 11:17 am
    Thalers contribution can be summed up to something very simple. Economic models that assume humans are rational actors are probably not as accurate as if they didn’t.

  59. No One says:

    It’s the leftist economists that introduced the most mathematically complex economic models. You don’t need a fancy model to tell people that they are morally entitled to freedom as long as they don’t violate the rights of others.
    It would be irrational to presume that a world occupied by people like Pumpkin would behave rationally all the time. I persistently make money by taking advantage of other people’s mistakes, stupidity, and ignorance.

  60. The Great Pumpkin says:

    Is this the value you bring to the table?

    “I persistently make money by taking advantage of other people’s mistakes, stupidity, and ignorance.”

  61. Phoenix says:

    Pumps,
    People do this all of the time.
    Then they go to church on Sunday and preach about God.
    Recycle, Rinse, Repeat.

    The Great Pumpkin says:
    October 9, 2017 at 2:00 pm
    Is this the value you bring to the table?“I persistently make money by taking advantage of other people’s mistakes, stupidity, and ignorance.”

  62. exjersey says:

    My generation still keeps pubes intact.

  63. Too Far NWNJ says:

    NWNJ – 2 points on your arguments or whomever brought up death panel and Medicare cheating.

    Is not death panel per se, but caring logic to a tough end of life decision. Which many time the patient’s family can’t make because of emotions.

    Example 1 – 83 y/o with multiple pneumonias, fixed with a ventilator each time. Tube taken out, another pneumonia within days. He himself is screaming to his wife, he does not want to live this way. A final intubation and back on a vent, a tracheotomy within a week and within 3 weeks, the patient will be leaving a miserable life in a long term vent unit at a nursing home. The wife herself could not make a decision, she was in constant tears.

    Example 2 – A new Ventilator marketed by GE -Carescape R860, is great. Think iphone 2007 vs flip phone and blackberry. Main selling point is the ability to do stuff that have specific billing codes. So you want to compare daily energy use of the patient on the ventilator with infection and see the decreased energy use of the body as infection is resolved – is for you. It’s a great research ventilator that all hospitals should have, but the for-profit hospital are the ones buying them because each time a feature is activate – bling, ring the cashier.

    Are the rules manipulated to get a result you want? Sure, ask any lawyer here. Hell that is why we have President Trump, because the Clintons’ could not let them go without extra manipulation.

  64. Too Far NWNJ says:

    But a “death panel” would be a hundred times more merciful with the 83 y/o than the way presently things are handle.

    And you do want that R860 if you need a ventilator.

  65. STEAMturd questioning the gender of Hillary's Cankle fluid. says:

    I for one, support death panels. If you want to avoid the panel, buy private insurance. If you want every0ne to have private insurance, well then don’t bitch about paying for it.

  66. No One says:

    My value is bringing rationality to markets when many others do not. Thus I do what I can to efficiently allocate capital to its most productive uses.
    Less rational people may prefer to support the lifestyles of those who trick people into investing in canned pancake batter and uneconomic fuel cells.

  67. Juice Box says:

    re: ventilator

    Yep and they might have to use muscle paralysis and you are fully aware. Most Docs would not want that done to them.

  68. Libturd sporting Tiger Wood says:

    Call me less rational.

  69. Grab them by the puzzy says:

    @waltshaub

    Price of flight: $30,000 per hour.
    Security: $1 bazillion.
    Ticket: $93.
    Hotdog: $17.
    Choreographed denigration of 1st Amendment: Priceless!

  70. Grab them by the puzzy says:

    @tonyschwartz

    Extraordinary:
    Bob Corker says nearly every Republican Senate colleague agrees that Trump is unstable, dangerous, and unfit for his job.

  71. grim says:

    Branson, MO is a weird place.

  72. The Original NJ ExPat says:

    Ya think??

    Branson, MO is a weird place.

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