Otteau Report November

From Otteau Group:

MarketNEWS November Edition

After home sales were basically unchanged during the month of September, New Jersey experienced a 9% increase in purchase contracts in October. Considering the 4% increase one year ago in October of 2016, home sales have increased at a compounded rate of 14% over the past 2 years. This latest gain was the highest number of purchase contracts recorded in the month of October over the past 12 years, signaling rising homeownership demand. Overall, home sales have increased in New Jersey by 5% year-to-date.

While the number of home sales has increased across all price ranges this year, the largest gain has occurred for luxury homes priced over $2.5-Million, rising by 15%, while homes priced under $600,000 have seen the smallest increases. It’s important to note that home sales in excess of $2.5-Million are increasing for the first time in more than a decade. The improvement has however been primarily concentrated in towns with direct rail service to Manhattan.

Shifting to the supply side of the equation, the supply of homes being offered for sale remains constricted, which is limiting choices for home buyers. The number of homes being offered for sale today in New Jersey has fallen to the fewest of the past 12 years, having declined by 5,000 over the past year. This is also about 33,000 (-46%) fewer homes on the market compared to the cyclical high in 2011. Today’s unsold inventory equates to 4.3 months of sales (non-seasonally adjusted), which is lower than one year ago, when it was 5.2 months.

Currently, all of New Jersey’s 21 counties have less than 8.0 months of supply, which is a balance point for home prices. Essex and Middlesex Counties have the strongest market conditions in the state with just 3.0 months of supply, followed by Union, Hudson, Monmouth, Passaic, Mercer and Morris Counties, which all have 4.0 months of supply or less. The counties with the largest amount of unsold inventory (6 months or greater) are concentrated in the southern portion of the state including Cape May (6.7), Cumberland (7.2), Salem (7.3) and Atlantic (7.4), however, these counties have shown significant improvement and are beginning to exhibit strengthening conditions.

Demand for rental apartments continues to expand in NJ with statewide occupancy rates being among the highest in the US. Statewide vacancy increased slightly to 3.5% (10 basis points). Nationally, the average vacancy rate also increased by 10 basis points to 4.5%. Still, the statewide and national vacancy rates remain well below their 2010 peak with vacancy rates having fallen by 170 bp and 350 bp, respectively.

Continuing economic growth and Millennials buying their 1st home has boosted the homeownership rate in New Jersey over the past 2 quarters from 62.2% to 65.4%, which is now 150 basis points higherthan the national rate. Still, the homeownership rate in the state has declined from 71.3% in 2005.Q1 to 63.8% in 2017.Q2, equating to an 8% drop, which is the same as the national trend. The homeownership decline over this period has created 194,000 additional renters in New Jersey.

This entry was posted in Demographics, Economics, New Jersey Real Estate. Bookmark the permalink.

222 Responses to Otteau Report November

  1. ExJerz says:

    “A small business person has Uncle Sam as a partner, a partner who puts up no money, does no work, and wants 30 or 40 percent” — Irwin Schiff

  2. Grab them by the puzzy says:

    Irwin Allen Schiff (February 23, 1928 – October 16, 2015)
    was an American tax protester[1] known for writing and promoting literature in which he claimed the income tax in the United States is illegal and unconstitutional. Judges in several civil and criminal cases ruled in favor of the federal government and against Schiff. As a result of these judicial rulings, Schiff was serving a sentence of at least 13 years for tax crimes at the time of his death. The Federal Bureau of Prisons reported that Schiff died on October 16, 2015.[2] Schiff was the father of businessman and former United States Senate candidate Peter Schiff.

  3. grim says:

    Have no problems paying taxes, I do have a problem being treated like a criminal by those who don’t though.

  4. ExEssex says:

    I find taxes onerous.

  5. nwnj says:

    I also find it comical that Murphy or anyone who voted for him are complaining about taxes. Really, don’t they see an inconsistency there?

  6. Daddy Deported says:

    US regulator will allow CME Group, CBOE to list bitcoin futures. Still no word on pancake in a can futures.

  7. D-FENS says:

    There was a call into a talk radio show yesterday that bothered me. A NJ accountant called in upset about the tax bill. His clients, a NJ Cop and NJ Teacher making combined $210,000 salary were upset because they face paying more in federal taxes under the new bill. Years ago the accountant advised his clients to buy a bigger house than they planned based on their ability to deduct their state and property taxes from their federal return.

    How many times is this story repeated across the state? Seems like bad advice in hindsight.

    I’ll see if I can find the audio and paste it here…

  8. Daddy Deported says:

    grim – you are a criminal, that’s why none of these letters are for you:

    LGGBDTTTIQQAAPP

    https://www.snopes.com/lggbdtttiqqaapp-lgbt-inclusiveness-training-flyer/

    Have no problems paying taxes, I do have a problem being treated like a criminal by those who don’t though.

  9. Libturd, AKA Dr. Howie Feltersnatch says:

    “Millennials buying their 1st home ”

    Invest in Carter’s! Babies can’t grow beards, but they still need to look good!

  10. The Great Pumpkin says:

    I have no problem paying more taxes if it benefits my state’s economy and the money stays in my state economy. I have a problem sending significantly more money to the feds for a tax plan that directly damages my state’s economy. Is this even a question? You are for paying more taxes to pay for a plan that damages, not helps, our state economy? You have to be insane or a die hard conservative obsessed with ideology over your state’s economy.

    nwnj says:
    December 1, 2017 at 8:13 am
    I also find it comical that Murphy or anyone who voted for him are complaining about taxes. Really, don’t they see an inconsistency there?

  11. Hold my beer says:

    D-tens,

    Those fools get what they deserve. Two public employees grossing 210k a year and whining about their taxes. Cognitive dissonance.

    And what genius buys a larger house than needed so they can deduct interest and property taxes? It is a deduction, not a credit. There is a mighty difference.

    And the utilities and upkeep are higher too.

    Lots of people in that income range have no liquid savings and live paycheck to paycheck. Got popcorn?

  12. nwnj says:

    Yeah, that’s pretty much where I stand. We’re living below our means now and don’t push the itemized deductions so this deal looks to be close to a wash to us from that end. And I’m a 1099’r with an LLC so I may come out ahead.

    None of it comes back to my neighborhood or school system when it’s sent to Trenton so it makes no difference to me. In fact, I like the idea of starving the beast in NJ. These abbott bastion cities are really just an arm of the democrat machine. Every dollar sent to them is a dollar for some progressive cause.

    If big NJ liberals want to build their big government dreams then let them do it without deducting it on the backs of middle America.

  13. D-FENS says:

    If I understand correctly, they had a house budget in mind, and then asked their accountant how much house they could afford, and he advised them to spend more on the home…including the SALT deduction in his calculation.

  14. The Great Pumpkin says:

    You are lost…ideology blinds you.

    “None of it comes back to my neighborhood or school system when it’s sent to Trenton so it makes no difference to me. In fact, I like the idea of starving the beast in NJ. These abbott bastion cities are really just an arm of the democrat machine. Every dollar sent to them is a dollar for some progressive cause.“

  15. The Great Pumpkin says:

    It’s a high cost of living location. 210k is nothing in this location, but you fail to understand that. Yes, maybe in Texas 210k is great, but not here. What does that get you, 600k house, and that’s pushing it.

    “Those fools get what they deserve. Two public employees grossing 210k a year and whining about their taxes. Cognitive dissonance“

  16. D-FENS says:

    Some of that blinding ideology Michael speaks of….

    http://www.njherald.com/20171129/newton-school-board-council-support-legal-action-on–school-funding#//

    Newton school board, council support legal action on school funding
    By David Danzis New Jersey Herald
    Posted: Nov. 29, 2017 12:01 am
    NEWTON — The Town Council and the Board of Education passed resolutions in support of joint litigation in an attempt to get the school district its full share of state aid under the School Funding Reform Act of 2008.

    The Newton School District currently receives less than 70 percent of what the school funding act calls for and has yet to be fully funded since the formula was enacted. The state aid shortfall results in an increased burden on Newton taxpayers in order for the district to fund state mandated education requirements.

    The council unanimously approved the resolution on Monday night and the school board passed its own version on Tuesday evening.

    Both resolutions reflect the separate entities’ desire to “address the unequal and disparate results caused by the SFRA’s distribution of available state aid and its impact on local taxpayers.”

    Newton Board of Education President Stella Dunn said the intent of the potential litigation is to pursue another avenue of pressure on the state to get the school district’s full share of funding. Dunn said the board’s intention is to provide tax relief for Newton residents just as it did in July when it returned $221,748 after the state adopted its budget.

    “When we’ve seen movement, the board has been very adamant about giving those funds back to the district,” Dunn said.

    The Newton School District had a deficit in state aid of $4,698,817 for the 2016-17 fiscal year alone. The board stated that this aid shortfall cost the taxpayers of Newton to pay $3,810,772 more than their local fair share of property taxes for the same fiscal year.

    During the 2016-17 school year, 379 districts received less than 100 percent of what the SFRA calls for and 239 of those received less than 70 percent, including Newton. Out of those 379 underfunded districts, taxpayers in 256 of them contributed above 100 percent of their local fair share. Dunn said the board wants to partner in litigation with similar school districts that are underfunded and pay more than their fair share in taxes, several of which have already responded that they would be interested.

    “We have gotten legal advice that would lead us to believe that this would not be a frivolous endeavor because of the way that the current SFRA is worded,” she said.

    Dunn said her understanding is that the attorneys for the board and the town would be working in conjunction on any potential litigation but nothing has been finalized. The resolution adopted by the school board said the district will commit $2,500 now and discuss any additional funding if required. The council’s resolution only states that Newton would authorize an “appropriate and pro-rated expenditure of funds” to support the litigation.

    “This isn’t a lawsuit, necessarily, from the standpoint of the board,” Dunn said. “It’s on behalf of the taxpayers of Newton because the taxpayers of Newton are being unduly burdened.”

    In January, the school board adopted a resolution appealing to the governor and the state education commissioner to put forth a public school spending plan that fully funds all districts in the upcoming year. The Town Council adopted a similar resolution in March.

    Prior to a state Senate Budget and Appropriations Committee hearing on the Department of Education’s proposed budget for 2017-18 in May, Newton Superintendent G. Kennedy Greene joined other officials from underfunded districts throughout New Jersey on the steps of the Statehouse Annex in Trenton demanding full funding.

    At the hearing in May, budget chairman state Sen. Paul Sarlo, D-36th Dist., said school funding was the “number one issue” facing the state. Sarlo noted that in order for districts to be fully funded, two provisions in the SFRA needed to be addressed since one prevented the state from correcting overfunding, the other from tackling underfunding. The first was adjustment aid — more commonly referred to as a hold harmless provision — which does not allow reductions below the prior year’s state aid regardless of a school district’s growth, tax base or enrollment. The second was the enrollment growth cap, which limits money districts receive for growth in enrollment.

    Gov.-elect Phil Murphy, who will take the oath of office on Jan. 16, has stated that he wants to fully fund all of New Jersey’s school districts, but details of where the estimated annual shortfall of $1 billion in state aid will come from are unclear.

    David Danzis can also be contacted on Facebook: ddanzisNJH, on Twitter: @ddanzisNJH, or by phone: 973-383-1274.

  17. 3b says:

    Biggest myth some people believe. He/ she is an accountant they know money they are savvy. I know a couple of them who are absolutely clueless!! They may be good accountants but that is it. Just because you are an accountant does not mean you know squat about economics finance interest rates and all the rest.

  18. Grab them by the puzzy says:

    @JohnCassidy

    This is 3rd time in 36 years the GOP has raised borrowing to pay for tax cuts.
    Call it
    supply side economics,
    starve-the-beast,
    donor payback,
    or whatever.

    It’s what the GOP does.

  19. The Great Pumpkin says:

    Blame your boy Christie for that. He gave that funding for education to corporations instead of where it belongs, but let’s not acknowledge that burden he placed on local budgets.

    D-FENS says:
    December 1, 2017 at 8:50 am
    Some of that blinding ideology Michael speaks of….

    http://www.njherald.com/20171129/newton-school-board-council-support-legal-action-on–school-funding#//

  20. grim says:

    I feel the need to self-identify as an alternative gender, I call it Gamma.

  21. 3b says:

    I am not responding to you. But I give myself a pass today after all it’s been a month. You are an idiot if you think 210k is not a lot of money. If one cannot live comfortably on that income then they are idiots. How much do you think people in Wayne and Paramus and Woodland Park and Emerson and all these other north jersey towns are making? Many if not most are below that number. It’s a high cost area in many respects because we piss money away. And corruption!! Now back to ignoring you!!

  22. 3b says:

    I prefer Grimma

  23. Grab them by the puzzy says:

    @Brianschatz

    Republicans are about to vote to transfer literally trillions from regular people who work at regular jobs to around 5,500 people with estates, and the largest and most profitable global corporations in human history.
    Don’t be despondent.
    Be angry.

  24. Hold my beer says:

    Pumpkin 210k income = 600k House when rates were 7%. I bet they have a 750k+ house with 20k in property taxes. And 210k in nj is a big income, probably top 5% of households.

    And keep knocking Texas. There are families making 60k a year who own their own 3/2 ranch. Even people who work in big box stores own their own house and frequently have a boat for recreational fishing or spend a good chunk of income on outdoor activities or other hobbies.

  25. Hold my beer says:

    Grim,

    Are there tax benefits to being gender fluid?

  26. Libturd, AKA Dr. Howie Feltersnatch says:

    210k is nothing in this location.

    Wtf?

    We are currently living in a very expensive town on one salary that is closer to half that than it is all of that. We have huge medical bills, mediocre health care and very high deductibles, premiums and copays. The state pays nearly zilch to fund our kids so our property taxes are near the highest in the state. And we still get by. Tell those two public serpents to fukc off.

  27. Hold my beer says:

    According to wiki, 9% of nj households grossed 200k a year and 17% make 100k+ a year in 2012.

  28. Libturd, AKA Dr. Howie Feltersnatch says:

    Speaking of gender fluid…when I was in Disney for D’s Make-A-Wish trip, which kicked ass btw, I witnessed a group of men and women who were pretty drunk but clever at the same time. They were daring their partners (of the opposite gender) to use the public bathroom which they didn’t identify with. So the man’s wife used the men’s room and vice versa. What a panic in the men’s room. Since I was in on the gig (unbeknownst to her), I turned around with my d1ck out and asked if I could watch her use my urinal. This scared her out of there. You could see the panic by the other men though. When her husband went in the girls room, you should have heard the screams! But he had the bigger balls. He actually proudly dropped a big smelly deuce.

    Ahhh, the magic of Disney.

    I guess people are not as progressive as many of us think.

  29. grim says:

    I’m offended with all this talk about fluids.

  30. No One says:

    Blue Apron looking for their 3rd CEO of the year.

  31. Libturd, AKA Dr. Howie Feltersnatch says:

    Perhaps rename the company Blue Dress? They’d sell a lot more meals to the deplorables!

  32. No One says:

    If you want convenience, order takeout/delivery or go out to eat.
    If you want to cook, learn how to cook and shop.
    Blue Apron is stuck in the middle.

  33. Libturd, AKA Dr. Howie Feltersnatch says:

    I gotta get this t-shirt

    https://tinyurl.com/tshirt-for-moana

  34. Grab them by the puzzy says:

    @Reuters

    BREAKING: Former Trump adviser Flynn has turned himself in to FBI: law enforcement officials

  35. yome says:

    Michael Flynn to plead guilty. What comes next?

  36. yome says:

    Trump Pressed Top Republicans to End Senate Russia Inquiry

  37. yome says:

    Senate tax bill hits a snag
    NBC’s Frank Thorp reported last night that Senate stopped voting on anything related to the GOP tax bill. What derailed the process?

    The JCT score showed that while they projected the economy to grow slightly as a result of the bill, it would still add $1 trillion to the deficit over the next 10 years.
    The Senate Parliamentarian told Republicans that the so-called “trigger” that some senators wanted to kick in to raise revenues if growth was not good enough was not in line with Senate rules, so it needed to be taken out. That lost them the votes of Sens. Bob Corker, R-Tenn., and Jeff Flake, R-Ariz.
    Per Thorp, there’s now a Rubik’s Cube of four Senate Republicans who have concerns that need to be addressed:

    Sen. Corker: Worried about deficits – wanted a trigger

    Sen. Flake: Worried about deficits – wanted a trigger

    Sen. Ron Johnson, R-Wis.: Worried about provisions related to deductions for pass-through businesses (he wants them higher) (Johnson’s office confirmed to NBC’s Garrett Haake on Friday morning that he is now a yes on the bill.)

    Sen. Susan Collins, R-Maine: Wants protections for a deduction for state and local taxes. (She also has health care concerns)

    Thorp adds: Leadership is trying to figure out a way to move around the money in a way that will lock in at least two of the above Republicans, as they can only lose two votes to pass the bill One or two of these Republicans could be left behind. There is a discussion about whether they could just include an automatic tax increase (likely on the corporate side) to help raise the revenue needed to get Corker and Flake on board. That’s a work in progress.

  38. Blue Ribbon Teacher says:

    I have no problem paying more taxes if it benefits my state’s economy and the money stays in my state economy. I have a problem sending significantly more money to the feds for a tax plan that directly damages my state’s economy. Is this even a question? You are for paying more taxes to pay for a plan that damages, not helps, our state economy? You have to be insane or a die hard conservative obsessed with ideology over your state’s economy.

    so your collectivism is only restricted to the state level? Not the federal level?

  39. leftwing says:

    “Gov.-elect Phil Murphy, who will take the oath of office on Jan. 16, has stated that he wants to fully fund all of New Jersey’s school districts, but details of where the estimated annual shortfall of $1 billion in state aid will come from are unclear.”

    Abbott and extraordinary ‘public serpent’ (thanks, Stu) pensions. If NJ desires to fund these items at these levels it is up to NJ to pay, not everyone else.

    People drive by a firehouse and see five guys cleaning a truck as heroes. I see five times a $5m tax liability each.

  40. Libturd, AKA Dr. Howie Feltersnatch says:

    Back to this again?

  41. Grab them by the puzzy says:

    @MotherJones

    Please enjoy this clip of Michael Flynn leading a “lock her up” chant.

    Flynn’s confession to having committed a federal crime comes with a special degree of irony, as he was one of the most prominent Trump supporters to lead a “lock her up” chant calling for Hillary Clinton’s imprisonment at the Republican National Convention in July 2016.

  42. Libturd, AKA Dr. Howie Feltersnatch says:

    I respect policemen working the beat in Paterson or in Newark. I have no respect for Officer Wiggum at the Washington Township Headquarters. I respect volunteer firemen wherever I see they still exist. I can’t stand our local firemen. About ten years ago, Montclair (who also covers Glen Ridge) went way over budget as they had to pay an enormous amount of overtime to their firefighters. When asked why by our town manager, he was told that their contract does not allow them to move around shifts to cover for sick and vacationing coworkers. So if second shift was short two workers, first shift HAD TO WORK sixteen hours, regardless if they were over staffed on first. I suppose they are worth it. It’s for the children.

  43. Libturd, AKA Dr. Howie Feltersnatch says:

    Oh the irony Moana. Sadly, no one feels for Flynn. And she should have been locked up.

  44. grim says:

    Wayne is still Volunteer FD. Given the size of the town, makes you wonder how others couldn’t do it.

  45. leftwing says:

    I really feel for Flynn. Poor guy is a general with a long, distinguished career. He takes a job for 24 days. The administration gets shaken down and he becomes the first domino.

    Three weeks I bet he would give anything to take back.

    Like a career finance guy joining Enron in Finance in October 2001. Ka-boom.

  46. Libturd, AKA Dr. Howie Feltersnatch says:

    I always ask, but the town claims liability issues. I claim lyability.

  47. Phoenix says:

    Pumps, you sound like my ex.
    Money all around her and claimed she was poor. Delusional thought process.
    If you feel 210k is nothing, do you suggest that should be minimum wage?

    “210k is nothing in this location”

  48. Libturd, AKA Dr. Howie Feltersnatch says:

    Sure, those new apartment buildings propping up all up and down Bloomfield Avenue won’t add much to the town budget.

    http://www.northjersey.com/story/news/essex/montclair/2017/04/06/montclair-fire-department-unveils-new-ladder-truck/100134162/

  49. leftwing says:

    Yeah, Stu, market is flat and I was kinda bored so figured I would stir the pot…..

    Change of topic then, especially for your expertise.

    Need a new phone. Own mine (S5) so not locked into anything. Perfectly satisfied with Samsung but open to anything other than Apple. Don’t care how I pay for it (upfront/contract). Only me. Just got Fios about four months ago for home.

    Can anyone save me an hour’s worth of time mucking around the internet? Best deal out there?

    Promise not to post any more pension/tax comments today if you do.

  50. homeboken says:

    World Cup News –

    Group F is a beast –

    GROUP F: Germany, Mexico, Sweden AND either S. Korea or Japan

    Yikes

  51. Libturd, AKA Dr. Howie Feltersnatch says:

    I’m an Apple guy. You won’t get much help from me. Though I find their $34/month new phone annually with insurance deal just fine for the average person. Love me my Verizon Cell service, but it’s not cheap. There are some things I simply don’t skimp on.

    It’s interesting how close skimp and scrimp (and shrimp too) are. I have always found word etymology fascinating.

  52. joyce says:

    I know you said working the beat not walking… but I’m wondering does the latter even exist anymore?

    Libturd, AKA Dr. Howie Feltersnatch says:
    December 1, 2017 at 10:37 am

    I respect policemen working the beat

  53. leftwing says:

    Don’t skimp on your shrimp or you will blimp and gimp.

  54. Quick Loans says:

    cash loan short term loans for bad credit personal loans unsecured [url=https://shorttermloans.us.com]short term payday loans[/url]

  55. leftwing says:

    WSJ and CNBC separately reporting Repubs have the votes now.

    Sounds like Collins is out in the cold (one of two no votes they can afford). Not sure if who was the other, Flake?

  56. No One says:

    BRT,
    How do you survive the ideological culture I perceive in the education industry?
    Seems like so many I encounter are collectivist/altruist/green SJW “thinkers”. Sciences still value facts over feelings?
    Anyway, I salute your willingness to think independently despite what must be a lot of pressure to conform to local norms.

  57. homeboken says:

    Left – I just departed Apple and purhcased the Samsung Galaxy Note 8. The phone is a beast. After a week of adjusting to the Android OS, I am really starting to fly with the Note. The camera is the best available and the bio-metrics to unlock have all worked seamlessly.

    So far the largest issue has been that my old Iphone was not disconnected from Imessage properly, so I went a few days where other apple users would text me and it would default delivery to Imessage, which I didn’t receive. Once corrected it has been smooth sailing. Best difference so far is the ability to add a Micro-SD card to the Note 8, which triples the memory and brings total storage to 192 GB. Try getting Apple to do that for under $100.

    The stylus is ported inside the bottom of the phone. It is neat to play with but I haven’t really found a good reason that I need the stylus just yet. To be fair though, I am a total newbie and admittedly I am have figured out probably around 30% of the phones true capabilities.

  58. The Great Pumpkin says:

    I don’t know….two income household making 210k at the professional level is really not that much money in a high cost location, but what do I know. Maybe I’m starting to live in a bubble.

    The thing that I don’t get. Hardcore conservative ideologues will attack 200k family earners as too much, only if they work for the govt, but have no problem with the people making millions or billions. In fact, they advocate for huge tax breaks for the highest earners in our economy as the answer to all problems. So in one case, 200k is more than enough to live the good life, but in another, we need to give billionaires more money in the form of tax breaks, because they don’t have enough to create jobs. Which one is it?

  59. homeboken says:

    Pumps Area Median Income for a 4 person household in Essex County is 73,937. Median means that exactly half the pop. of 4 member families earn more than that and half earn less.

    You are saying that an income that is more than 2.5 times the median is poor.

    Let’s take your sentence another way – Allow me to word smith. If 210,000 is poor – then you are saying that 85% of NJ residents are poor. Does that seem like a reasonable statement to you?

    $210,000 is in the top 15% of all families in the state. By defintion it can’t be considred poor.

  60. The Great Pumpkin says:

    Give me a break, you are such an ideologue of conservatism. Go tell the red states to stop asking blue states to pay for their military industrial complex they feed off of. We rather invest the money in infrastructure and education.

    “so your collectivism is only restricted to the state level? Not the federal level?“

  61. Daddy Deported says:

    He’d pay any price for it. The DNA can prove his paternity on that black kid and also prove that Chelsea isn’t his.

    Fake news?

    http://empirenews.net/bill-clinton-buys-monica-lewinskys-famous-stained-dress-in-online-auction/

  62. chicagofinance says:

    U.S. stocks fell and gold spiked higher with Treasuries on a report that Michael Flynn would say that President Donald Trump directed him to contact Russians.

  63. Daddy Deported says:

    ABC – the new king of fake news.

  64. The Great Pumpkin says:

    Homeboken,

    Sure, 200k is not poor, but it’s not the lifestyles of the rich and famous for our area.

  65. leftwing says:

    Crazy market. Stepped out to grab a bite and S&P tanks 30.

    Makes me feel better…..I was long some Wed SPY 261 Calls and sold Wed morn for a good gain. Afternoon hindsight had me leaving a boatload on the table so reloaded late in the day for some positions expiring today. White knuckled yesterday and dumped at the close. Thought I would have been kicking myself this morning……

    Jittery market. May throw on some puts a few months out.

  66. Libturd, AKA Dr. Howie Feltersnatch says:

    You are wasting your time Homeboken.

  67. Libturd, AKA Dr. Howie Feltersnatch says:

    These 1% or better moves remind me of a different time.

  68. 3b says:

    Homeboken go back to ignoring him. He is a complete ass!

  69. Daddy Deported says:

    LOL. My son Pumps thinks he lives in Bergen County now. Keep dreaming.

    Sure, 200k is not poor, but it’s not the lifestyles of the rich and famous for our area.

  70. Daddy Deported says:

    HS dropout with 3 secret degrees.

  71. Daddy Deported says:

    Some inadequate guys like to buy themselves a p3nis extender like a new Corvette. Pumps likes to whip out his tax bill and high speed limit.

    Hahahahahahahahahahaha

  72. Daddy Deported says:

    BTW, every news outlet loves, loves, LOVES to be the second news outlet to report something because there is zero liability.

    “ABC News is reporting that…”

    BTW, a lot of media execs are about to be unmasked for covering up and/or being Matt Lauer types.

  73. Daddy Deported says:

    The old normal.

    These 1% or better moves remind me of a different time.

  74. Daddy Deported says:

    CNBC reporting that the Senate has the votes.

  75. Daddy Deported says:

    C corps lose deductions.

  76. The Great Pumpkin says:

    Ignore me for stating 200k in north jersey is not wealthy? You guys just hate on me for no reason.

  77. Daddy Deported says:

    I hope the SEC is looking at ABC execs and their families’ trading accounts.

  78. Daddy Deported says:

    Comey tweeting bible verses? You can’t make this stuff up.

  79. leftwing says:

    News Flash

    Collins not the holdout. She is ‘satisfied’, CNBC reporting property tax deduction may be back in. Collins to have presser in a couple hours, won’t commit to being official yet.

    Grind that sausage ba-beee! This happens, you guys should send a massive care package to sister towns in maine.

  80. Daddy Deported says:

    We have reasons. Sorry, son.

    Ignore me for stating 200k in north jersey is not wealthy? You guys just hate on me for no reason.

  81. leftwing says:

    Flake in. Soft BS satsfied him. DACA concessions, some ‘growth’ considerations.

  82. Daddy Deported says:

    My cynical view is that ABC blew up this story to derail Trump taking credit for today’s Senate vote (presumably) passing. Some tiny hive of 25-35 year olds at ABC, who have no money or assets, forgot about what it would do to the stock market. In the end, they probably pushed the vote, ironically, across the finish line because now Team R cannot afford a tipping point.

  83. Daddy Deported says:

    Did I ever tell you guys about how smart my little Pumps was as a baby? He could take off his diaper all by himself no matter how much duct tape we wrapped around his waist. After, Houdini-like, he escaped from his bonds he would immediately sh1t on the floor, or sometimes in my shoe.

  84. leftwing says:

    Corker undecided, Repub whip saying he ‘doesn’t recall’ any concessions in bill to him, so count him as a ‘no’.

    Guys, if Collins actually got her property tax deduction to vote yes – and SALT was her only real issue – you may have dodged a bullet.

    I imagine with Flake abandoning the deficit hawk position there is an incredible amount of lobbying on Corker to come in line, and dump collins (and thereby keep prop tax deduction out).

    In the weird world of politics all those individual tens of thousands of dollars of property tax deductions in NJ may rest on whether corker comes in line. Corker’s coming in line is likely affected by the (non)relationship he has with Trump and the (in)ability of the WH to reach out hard and lobby since they are in full lockdown right now with the Flynn news (they cancelled Trump presser this morn and Trump’s appearance at XMas party this afternoon).

    If collins turns out to be the deciding vote you may get the property tax deduction back and have Trumps big mouth insults on Corker and Mueller’s timing this morning to thank.

  85. homeboken says:

    Pumps – Yes, precisely. I posted data showing that $200,000 is a higher total income than 85% of Essex County residents. It is top 80% in Bergen County too!

    Pretty much anywhere in the state, save exclusive neighborhoods of Alpine and Far Hills, $200,000 is in the top quintile of all incomes. Hence, it is not poor.

    You say “it isn’t lifestyle of the rich and famous” I agree. But who is claiming that it should be? $200k is a very comfortable living in the wealthy areas of this state. Zoom out to a global level and that $200k is better han 99.9% of the worlds inhabitants will ever now. To me, that is a wealthy person.

    Sure, if the $200k family lives next to a $1.0mm family, by comparison they may look poor. But they shouldn’t look there, they should look at the rest of the humans on the globe and realize they have attained a life-styl that is unimagineable for billions of familis for multiple generations.

  86. 3b says:

    So salt out tax deduction in?

  87. 3b says:

    You can’t talk for years about how wealthy N.J. is just ozzing wealth and then turn around and say it’s not that wealthy.

  88. Daddy Deported says:

    Baby Pumps used to cry so much just paying my vig. I can only watch and wonder over Skype how sad he is as he cries, and cries, and cries paying $1500 per month in property taxes. He curls up in a smaller fetal position than his baby girl when we talk about day care costs.

  89. chicagofinance says:

    The deduction is money, but it is not THAT much money……if the difference between affording a house and not affording a house is based on an assumption that tight to the budget, then the accountant had no cause to “green light” the purchase in the first place.

    D-FENS says:
    December 1, 2017 at 8:19 am
    There was a call into a talk radio show yesterday that bothered me. A NJ accountant called in upset about the tax bill. His clients, a NJ Cop and NJ Teacher making combined $210,000 salary were upset because they face paying more in federal taxes under the new bill. Years ago the accountant advised his clients to buy a bigger house than they planned based on their ability to deduct their state and property taxes from their federal return.

    How many times is this story repeated across the state? Seems like bad advice in hindsight.

    I’ll see if I can find the audio and paste it here…

  90. Daddy Deported says:

    BTW, I have four degrees myself. I can only tell you about one of them though. I have an online certificate I earned in Virtual Polish Parenting.

  91. leftwing says:

    3b, everything seems to be a jump ball. And don’t forget all this needs to go to conference with the House once it clears Senate.

    The big change is that Collins is now key. Most people were ignoring her while working Corker, Johnson, and Flake. If they got those three they could continue to ignore her. If they don’t, they need her and need to cut a deal.

    Collins wanted all of SALT deductible, seemed to indicate she was dealing for a ‘yes’ if they would just give her property taxes.

    We’ll see. Both sides non-committal and talking about ‘confirming’ later today.

  92. 3b says:

    Left interesting to see how it all turns out!

  93. 3b says:

    Chgo I have heard it multiple times my accountant says but a bigger houes or a second g one even to save money on taxes. If people just stopped for a moment and thought about it would be cause to pause yet they just go and do it. Accountants are very clueless in many cases. They definitely should not be giving personal finance advice.

  94. Blue Ribbon Teacher says:

    Give me a break, you are such an ideologue of conservatism. Go tell the red states to stop asking blue states to pay for their military industrial complex they feed off of. We rather invest the money in infrastructure and education.

    1. Lol, ideologue of conservatism? I’ve only voted for 1 republican candidate at the state/presidential level in my life.

    2. Are you that naive that you don’t realize the military industrial complex in NJ is huge?

    3. The roads out west are newer and nice then ours. Go over to the border in PA and the roads are better maintained than East of the border. And they do it for less. We don’t spend money on infrastructure in NJ. There are 4 bridges down in my area. They aren’t getting fixed, despite the new gas tax.

    I was merely pointing out that you are a hypocrite because you promote your ideology on one level, but not another.

  95. chicagofinance says:

    Income is critical, but it masks the issue around real estate…… how much is the monthly nut? You may own a home worth $750,000, but if you just bought it and you make $210K then you feel poor……. tons of judgmental as%wipes out there who are Baby Boomers who purchased between 1990-2003 who are sitting on lots of equity, which is due to nothing other than luck of the draw……. totally different if your $750,000 home is financed off a $300,000 purchase price……

    homeboken says:
    December 1, 2017 at 12:48 pm
    Pumps – Yes, precisely. I posted data showing that $200,000 is a higher total income than 85% of Essex County residents. It is top 80% in Bergen County too!

    Pretty much anywhere in the state, save exclusive neighborhoods of Alpine and Far Hills, $200,000 is in the top quintile of all incomes. Hence, it is not poor.

    You say “it isn’t lifestyle of the rich and famous” I agree. But who is claiming that it should be? $200k is a very comfortable living in the wealthy areas of this state. Zoom out to a global level and that $200k is better han 99.9% of the worlds inhabitants will ever now. To me, that is a wealthy person.

    Sure, if the $200k family lives next to a $1.0mm family, by comparison they may look poor. But they shouldn’t look there, they should look at the rest of the humans on the globe and realize they have attained a life-styl that is unimagineable for billions of familis for multiple generations.

  96. Grab them by the puzzy says:

    @tonyschwartz

    Flynn turns.
    Mueller is moving in relentlessly on the Oval Office. Trump knows what is coming. This is why I’ve been predicting since he fired Comey that his presidency will not survive.
    I’ll say it again: The end is near.

  97. Daddy Deported says:

    Wow. I remember (a long, long, long time ago) when it was exactly the opposite. Cross the Delaware into PA and the roads turned instantly to potholes of various levels of fill.

    Go over to the border in PA and the roads are better maintained than East of the border.

  98. Grab them by the puzzy says:

    @chrislhayes

    All of the looking the other way, and the excuses and the complicity w Trump was so the GOP could pass this bill today.
    This is the payoff.

  99. Grab them by the puzzy says:

    @AoDespair

    What we are witnessing with the GOP tax bill is a frenzied rush to loot the bank before the cops show up with handcuffs out.

  100. Grab them by the puzzy says:

    @joyindc

    ABC News’ @BrianRoss reports that Flynn is prepared to testify President Trump directed him to make contact with Russians

  101. Phoenix says:

    homeboken,
    I am in need in a phone soon also and have looked at the note 8. I have heard rumors that although it is a great phone it is a bit fragile. If I may ask, what type of case are you using to protect it?

  102. Libturd, AKA Dr. Howie Feltersnatch says:

    Flynn is about to Catfish the entire Democratic Party.

  103. Libturd, AKA Dr. Howie Feltersnatch says:

    Flynn will simply say, “Trump asked me to contact the Russians to ask them to stop meddling with this election.”

  104. homeboken says:

    Phoenix – I am using the Schooch Clipstic for Note 8.

    Drawbacks – I lose part of the infinity screen as the case cover’s it with a hard-protective layer on the sides/corners.

    Plus – It has a nifty pop-out kick stand that I can use when on airplanes to view videos etc.

    Given the phone design being so much glass, durabilit is an issue. I have the Scooch case and a Gorilla glass screen protector. I lose some of the sexiness but it’s the price I pay for protection.

    The case was about $40 in the VZ store. Im sure you could find it cheaper on-line, I got mine down to $10 since I purchased 2 other accessories (wife’s phone) while in there. The bundle was a good deal.

  105. dentss dunnigan says:

    Looks like the R’s have the votes to pass Trumps “tax cuts” …now to find out what’s in it ….

  106. prtraders says:

    Any thoughts on how the tax reform might affect NJ munis? Me thinks that some might shift into munis since the state tax on taxable bond interest won’t be deductible.

  107. nwnj says:

    The Flynn thing is a joke, nothing new or particularly detrimental. The question I have is why he ever joined the government to begin with. If he wanted to lobby and rake in money then he wouldn’t have run into any problems. I think we still need to find out if they got the warrant to tap Trump tower using the dossier that the Clinton campaign payed for. THAT would be a huge story.

  108. chicagofinance says:

    Grab: yeah, but then we get Pence for 3 years…….

    Grab them by the puzzy says:
    December 1, 2017 at 1:14 pm
    @tonyschwartz

    Flynn turns.
    Mueller is moving in relentlessly on the Oval Office. Trump knows what is coming. This is why I’ve been predicting since he fired Comey that his presidency will not survive.
    I’ll say it again: The end is near.

  109. No One says:

    I’ve got the Note8 with a Spigen tough armor case, and some sort of plastic sticky screen cover. I’ve only had a minor short drop onto a wood floor and it survived.
    I like the phone, but it’s a bit harder to type one handed than my previous Note5. I occasionally write notes using the stylus, so I value that angle. Photos are good, though that’s not a big use for me.

  110. homeboken says:

    No One – Typing was a pain in the neck with the factory setting. I downloaded the G-Board by google and it has been “learning” my typing patterns of the last 2 weeks. It is much better at predicting my text and correcting my spelling.

  111. yome says:

    1:56 pmADD A COMMENT
    Reports emerging now that the revised Senate plan won’t repeal the alternative minimum tax. The original bill called for getting rid of the tax, which was designed to make sure the wealthy didn’t use deductions to avoid paying federal income taxes.

    Keeping it will help save revenue and may placate deficit hawks.

    Also, more news from Sen. Collins. She says the bill will include her medical-expense deduction — another sign she’ll vote yes on the bill, though she hasn’t declared her intention.

    12:31 pmADD A COMMENT
    Maine Sen. Susan Collins says the bill is going to include her amendment allowing up to $10,000 in state and local property tax deductions.

    That mirrors the House’s bill, so that’s one less potential bone of contention to getting a single bill to send to Trump.

    1h

    Sen. Susan Collins

    @SenatorCollins
    The Senate tax bill will include my SALT amendment to allow taxpayers to deduct up to $10,000 for state and local property taxes.

    Sen. Susan Collins

    @SenatorCollins
    Delighted that the Senate has agreed to include my property tax deduction amendment, that will allow 166,000 Maine taxpayers who itemize to deduct a total of $725 million in property taxes each year. #MEPolitics

  112. Daddy Deported says:

    ding! ding! ding! We have a winner!

    I think we still need to find out if they got the warrant to tap Trump tower using the dossier that the Clinton campaign payed for. THAT would be a huge story.

  113. yome says:

    No repeal on AMT.
    All eyes on Collins.She needs to get what she wants

  114. homeboken says:

    No One – I promised myself I would learn to type via “Swift-Key” when I switched. The sliding of the finger seems super fast and also very workable one-handed.

    But, G-Board has been an inmprovement for me with the smart typing function, and I have been very impressed with the text-to-type capability. So really, unless I need privacy, I am speaking the majority of messages/emails out now.

  115. Daddy Deported says:

    Texting and smartphones are
    already affecting evolution. Children’s Hospital is reporting a higher than expected number of live births with no fingers except thumbs.

  116. Cash Advance says:

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  117. The Great Pumpkin says:

    I agree with everything stated. Your last paragraph alludes to the bubble mentality. If you are only around individuals that are wealthier than you, no matter what you make, in your mind you are poor. This is why my original statement said 200k is nothing in this state. I didn’t say it was poor, but just said it was nothing…..meaning 600k-700k is crap and that’s what it will get you. In most nice towns in nj, 600k puts you in lower end home. In Manhattan, or sf area, couldn’t even afford to live a lower middle class lifestyle on that income.

    homeboken says:
    December 1, 2017 at 12:48 pm
    Pumps – Yes, precisely. I posted data showing that $200,000 is a higher total income than 85% of Essex County residents. It is top 80% in Bergen County too!

    Pretty much anywhere in the state, save exclusive neighborhoods of Alpine and Far Hills, $200,000 is in the top quintile of all incomes. Hence, it is not poor.

    You say “it isn’t lifestyle of the rich and famous” I agree. But who is claiming that it should be? $200k is a very comfortable living in the wealthy areas of this state. Zoom out to a global level and that $200k is better han 99.9% of the worlds inhabitants will ever now. To me, that is a wealthy person.

    Sure, if the $200k family lives next to a $1.0mm family, by comparison they may look poor. But they shouldn’t look there, they should look at the rest of the humans on the globe and realize they have attained a life-styl that is unimagineable for billions of familis for multiple generations.

  118. Daddy Deported says:

    Yep, that’s how I raised you. A good boy remembers his place and your place is beneath everyone else.

    If you are only around individuals that are wealthier than you, no matter what you make, in your mind you are poor.

  119. Libturd sporting Tiger Wood says:

    His place is anywhere but here.

  120. yome says:

    Alternative Minimum Tax Won’t Be  in  Plan, Aide Says. The Republican tax bill will keep the alternative minimum tax for individuals and the lesser-known one for corporations, a GOP aide said Friday. … They had pledged to  the.

    WSJ

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  122. Juice Box says:

    Bloomberg reports that Jared Kushner is the individual mentioned in Michael T. Flynn’s plea documents who is said to have ordered Flynn to contact Russia.

  123. 3b says:

    Chgo The Boomers are of course greedy! But whose is worse then or the moron who pays 750k for the house and now feels poor? Simple tell the old feckers to shove their 750k house!!

  124. Libturd, AKA Dr. Howie Feltersnatch says:

    Problem with the Millennials is that their parents spoiled their snowflakes so rotten that they expect everything their parents had. Sorry Charlie.

  125. Libturd, AKA Dr. Howie Feltersnatch says:

    Meanwhile, this dad is heading over to Friendly’s with a $10 off of $25 coupon. Anyone know of anything edible on the menu besides a tuna fish sandwich?

  126. Libturd, AKA Dr. Howie Feltersnatch says:

    Gator’s in Texas helping another cancer mom cope with their loss and I got my two boys and it’s Friday night and I gotta coupon!

  127. Juice Box says:

    Hummm AMT today already negates my deductions for local taxes. I thought removing it would soften the blow for the Trump Tax plan changes. Seems like a double whammy now. Upper-middle class, are not the truly rich. We are salary people who don’t live off
    wealth from investments.

    I guess I will see you all on the ramparts…..

  128. Daddy Deported says:

    My patronage of Friendly’s with kids in recent years has taught me two things:

    1. Their food service is slow.
    2. Their ice cream service is slower than slower than slow!

    Do they even know what their core business is?

  129. Hold my beer says:

    Libturd,

    I always stuck to the 5 scoop sundaes

  130. Libturd sporting Tiger Wood says:

    Oy. Dessert for dinner? Not a bad choice. And it’s peppermint stick season to boot. Normally, I just mooch off of one of my kid’s sundaes since they are tremendously large. Tonight, I may spring for my own.

  131. Njescapee says:

    LoL I used go Friendlies on 202 in Bernardsville at least once a week back in the early 80s. Wasn’t too bad back then.

  132. Libturd sporting Tiger Wood says:

    I’ve been about once a year. The food is truly terrible. I can stomach their burgers, but I am sick of burgers.

  133. No One says:

    Nothing bad we might learn about Kushner would surprise me. His dad is a convicted felon, and believes that God doesn’t want anyone to eat pork or oysters. Obedience combined with ambition, without an internal moral core, spells trouble.

  134. No One says:

    Libturd,
    Looking at the menu, it sucks. I haven’t been there in about 12 years.
    Do they let you order breakfast at dinnertime?
    Maybe try a salad, then go for a sundae.

  135. Njescapee says:

    Back in those.days there weren’t a lot of options in the Basking Ridge area. The Store was a little pricey for lunch and Chinese.food was.so.so in that town.

  136. 3b says:

    Phoenix Too bad your ex did not realize there are those who have money and those who appear to have money. I know people who by outward appearances looks like they are wealthy behind it nothing. 401ks either minimal or nothing,no pensions home equity loans student for kids and or co signed. Their wealth they believe is in their houses. Some believe that additions renovations that were done 5 to 15 years ago the cost of those renovations get added to their original purchase price and when they sell they sell in 10 years or more they will get 100 percent of their cost back. It is astounding the level of of ignorance that is out there!

  137. Daddy Deported says:

    I don’t know if anyone here reads actual hard-cover books anymore, but I ordered up A Confederacy of Dunces from our local Boston Public Library branch. I have the large print edition. It’s wonderful, kind of like driving a 1960’s era Ferrari.

  138. Libturd, AKA Dr. Howie Feltersnatch says:

    Ended up with the tuna melt. It was serviceable. Service was actually excellent. This is in comparison to the Panera I ran into last night to get my free birthday pastry (for Gator Jr.). It was 9pm and the line was 5 people deep. I opted to use the kiosk. From order time to the time the dumb kid handed me the pastry was friggin’ 15 minutes. Good thing they have a kiosk! I was greeted by a survey in my email this morning. Have a feeling another free pastry is coming my way. They also offered me a free bagel every single day in December! Too bad their bagels suck.

  139. Libturd, AKA Dr. Howie Feltersnatch says:

    Read COD ages ago. For truly enjoyable mindless reading, read L. Ron Hubbard’s Mission Earth series. Shame they made the movie of Battlefield Earth and not Mission Earth.

  140. Daddy Deported says:

    Thanks Lib, added to my fiction list. It is fiction, right? ;-)

    Read COD ages ago. For truly enjoyable mindless reading, read L. Ron Hubbard’s Mission Earth series. Shame they made the movie of Battlefield Earth and not Mission Earth.

  141. Daddy Deported says:

    BTW, I was inspired to pick up COD because I happened on a THREE HOUR interview of Michael Lewis(The Big Short, Moneyball, Flashboys,
    Liar’s Poker, etc.
    on CSPAN a few weeks ago. He said he never re-reads any of his own books but said that COD was one of the few books he has read multiple times and makes him laugh out loud to the point of tears.

  142. Daddy Deported says:

    What’s funny is that I knew of COD, the author’s life, the unbelievable route to it actually being published more than 10 years after his death, the irony of COD beating out Walker Percy’s novel for the Pulitzer, etc. but had never picked it up.

  143. Daddy Deported says:
  144. 3b says:

    Grim where are house prices now in compared to the 2007 peak.

  145. Juice Box says:

    So my young son told me tonight that he wants a Raspberry Pi computer for christmas so he can be a hacker over an investment banker, that really brought a tear to my eye…

  146. Juice Box says:

    3b -they are forgotten. Don’t bother…nobody listens….

  147. 3b says:

    Juice you raised him well!!

  148. 3b says:

    Juice I know but there are so many around its astounding!!

  149. Hold my beer says:

    Looks like all those poor families making 200k a year in jersey are going to be pushed off the cliff into the world of paycheck to paycheck or living on credit cards and Home equity

  150. Hold my beer says:

    Wonder how many new Aldi stores willn open in Bergen County. With thee passing of this tax bill.

  151. 3b says:

    Home equity loans Are no longer deductible anymore either from what I understand.

  152. Hold my beer says:

    Libturd would be proud of me. Aldi marks meat down to half price a day or 2 before the expiration date. I bought a pack of ground sirloin that was reduced to 1/2 price and had an additional $2 off sticker on it. Paid $2.75 for about 2.3 pounds of meat. Should have been $9.50 or so. I split it in half when I got home and froze it.

  153. Hold my beer says:

    3b

    That won’t stop the posers from doing HE to pay for their vacations and plastic surgery.

  154. The Great Pumpkin says:

    62% goes to 1% of the population. How do regular people support this garbage. 99% of the population gets to share 38%, while 1% gets 62% of the benefits. Nuts.

    “Even so, the legislation actually would raise taxes in 2027 on those earning less than $75,000, according to the Joint Committee on Taxation.

    And the Tax Policy Center, a progressive research group affiliated with the Brookings Institution and Urban Institute, said 62 percent of the benefits would accrue to the richest 1 percent of American taxpayers in 2027.”

  155. Hold my beer says:

    Pumpkin it’s a combination of prosperity gospel and celebrity worship.

  156. The Great Pumpkin says:

    Juice,

    What’s sickening, how many nj citizens think this won’t affect them. So proud of their national republicans gods for sticking it to their fellow nj citizens. Wish these people would get the hell out of jersey. Do they understand that the federal govt taking more money from rich nj citizens will directly affect the infrastructure and education system in this state? You will pay more in property taxes because this tax increase on the rich does nothing for jersey’s budget…..since the rich are already being taxed, the state govt will have no choice but to raise the taxes on EVERYONE now. You people are tools for supporting this crap.

  157. 3b says:

    I know someone with 3 older kids modest income who just started a massive home renovation. And now this new tax law. Very foolish!

  158. 3b says:

    NJ voted overwhelming democrat. No one was paying attention to this tax law or they thought it would never happen! And if the democrats win in 2020 they won’t change it back. They are secretly quite happy with it.

  159. Hold my beer says:

    Pumpkin,

    Maybe the public will finally force the local government to pass laws so government employees will no longer be allowed to cash in sick days they earned 30 years earlier at an entry kevel salary as their current salary as chief or town manager when they retire. Maybe public employees will have to get health insurance comparable to the rest of us. Maybe New Jersey highway work will no longer cost 3 times per mile what it costs in other states.

    Most likely the status quo will continue and people will vote with their feet placing a downward pressure on real estate and increasing the tax burden for the holdouts.

  160. leftwing says:

    “he can be a hacker over an investment banker”

    Want REAL money? Combine the two…..

    Didn’t follow the blow by blow into the night but suspect AMT was the giveback for the $10k prop tax deduction staying in. Blame/credit Collins depending on your personal p/l.

    Anyone doing analysis of the bill in 2027 is a charlatan and not worth listening to. There is a cliff on the individual cuts to hit the Paygo provisions in Congress. The easy answer in the future, depending on currently unpredictable conditions, is just to extend the individual cuts at that time and all those nasty stats disappear. It is laughable to base anything off of ten year out forecasts. Better chance of hitting the perfect NCAA March madness pool than producing an accurate forecast.

  161. Hold my beer says:

    3b,

    People like that and the ones who bought the most expensive house they can afford will be pummeled.

  162. leftwing says:

    Phone…….

    Thanks on replies. Guess I’m going S8. Looks like Best Buy is running a serious discount ($300) on purchasing via a two year Verizon contract. Have been AT&T forever, suspect those two carriers are essentially interchangeable….

    Last question, anyone have experience using an unlocked phone instead?

  163. 3b says:

    And this in my opinion will have an impact on housing prices far greater than 10 percent in this area.

  164. The Great Pumpkin says:

    All you need to know about the stench of this plan is how it’s being created and passed. Says it all.

    It’s been created behind close doors and passed by 1 vote through a process that will set a bad precedent for this country by doing shady moves to pass something. The majority of the general public does not support it, yet it is being shoved down our throats. Trump came here to drain the swamp, but it was clearly bs. Should have known how shady he was the minute he wouldn’t release his tax files. What do you have to hide you orange turd!

  165. 3b says:

    Hold I was shocked when I heard they were doing it! Based on their income their age and age of their children it was an incredibly stupid decision!! It’s a total vanity keep up with the Jones project with the belief it’s an investment and they will get all their money back plus appreciation!! The level of stupidity and vanity is just staggering!!

  166. The Great Pumpkin says:

    If the plan was so good for America, why create in secret? Why?

  167. The Great Pumpkin says:

    If the plan was so good for America, why is it being passed by 1 vote under a totally shady process?

  168. Hold my beer says:

    Leftwing,

    I bought an unlocked used iPhone6 plus for my kid online this summer. Saw some weird message when I turned it on. Took it to Verizon and they told me the phone was dead. Returned it and got my $ back.

  169. The Great Pumpkin says:

    Even if you cap the salaries at 50,000, it will still be expensive to do construction work based on the density and price of land. It’s just a high cost location, so everything is more expensive here. Can’t compare to open field locations. Look at the costs of Manhattan for anything….even fast food is double in that location.

    Hold my beer says:
    December 2, 2017 at 10:34 am
    Pumpkin,

    Maybe the public will finally force the local government to pass laws so government employees will no longer be allowed to cash in sick days they earned 30 years earlier at an entry kevel salary as their current salary as chief or town manager when they retire. Maybe public employees will have to get health insurance comparable to the rest of us. Maybe New Jersey highway work will no longer cost 3 times per mile what it costs in other states.

    Most likely the status quo will continue and people will vote with their feet placing a downward pressure on real estate and increasing the tax burden for the holdouts.

  170. Hold my beer says:

    3b,

    A lot of people only appear well off. Half the people in this country with 100k plus household income live paycheck to paycheck and have less than 4 weeks net income in liquid savings.

    I am quite happy to shop in Walmart , Aldi, and buy bass pro shop fishing gear and shoes and drive a 10 year old car, and do my own lawn care.

    Last week we made the last monthly payment on one of our kids braces. Next month that monthly payment will get redirected into her college fund. We just act as if that $ never existed. I think many people would take that monthly amount and spend it on something frivolous

  171. yome says:

    No GOP Politician is saying it; $1T deficit will be paid by increasing age and contribution to SS comes Fall. (March Congress will pass new Laws for SS) Next fix is SS to be sustainable per se. Reagan playbook. Again, SS surplus is spending money to the Government. Debt on paper that will never be paid.

    Government to date still owe over $2T to SS before Congress will do something to fix it. Fixing it will generate Surplus equals to more debt on top of the $2T not paid.

    It will never be paid. Retirements will be delayed and contribution will increase

    https://www.ssa.gov/oact/trsum/

  172. Hold my beer says:

    Pumpkin,

    Nj is still incredibly expensive for road construction even comparing it to Los Angeles and other high cost cities. Why should parkway work in Toms River cost the same as downtown Fort Worth? Why should a small bridge in east Hanover take 18 months to be rebuilt? A 6 lane expressway that is 12 miles long with half a dozen over passes is being built in Tarrant county down the median of 360 (the same highway you can see from blimp shots of rangers and cowboys games) that starts in Arlington through 4 or 5 municipalities and will only take about 20 months to do. And about half a mile of it is being built as a bridge to account for the flood zone it is being built on.

  173. Hold my beer says:

    My bad. It is only 9.7 miles long and will take 2.5 years

  174. The Great Pumpkin says:

    Hold my beer, did you see how fast the parkway and nj turnpike expansions were completed in central and south jersey? They were also not that expensive. Now go to northeast nj where the population is dense and there is no free land to expand the highway on, and you have very expensive construction project for anything.

  175. The Great Pumpkin says:

    Same state, different results….why? Can’t blame govt or worked salaries for the cost of doing business in high cost dense locations.

  176. Daddy Deported says:

    That’s why we have to pass it, so you can read it.

    If the plan was so good for America, why create in secret? Why?

  177. Nwnj says:

    biggest loser in this deal is the democratic machines. Now we see which big liberals actually walk the walk. My guess is that a lot of nj moderates are going to start looking at the scams being perpetrated by dems in the state. Phil Murphy’s platform is dead. Maybe he will focus on legalizing weed. He won’t get anything else.

  178. The Great Pumpkin says:

    Can’t wait to take advantage of the tax breaks on my private plane. This is a win for the people, baby!!

  179. The Great Pumpkin says:

    You are crazy. This is going to get the Democrats the majority. Best part, they will jam legislation down the people’s throats by following the republicans playbook when in majority. Republicans just set a dangerous precedent for how this govt works. Good job working loop holes that will not hurt our country.

    Nwnj says:
    December 2, 2017 at 11:47 am
    biggest loser in this deal is the democratic machines. Now we see which big liberals actually walk the walk. My guess is that a lot of nj moderates are going to start looking at the scams being perpetrated by dems in the state. Phil Murphy’s platform is dead. Maybe he will focus on legalizing weed. He won’t get anything else.

  180. The Great Pumpkin says:

    *Good job working loop holes that will now hurt our country.

  181. Nwnj says:

    Idiot red country is getting a big cut.

  182. The Great Pumpkin says:

    Did you just see the elections last month? It was a bloodbath for republicans. You think 2018 will be any different?

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  184. The Great Pumpkin says:

    Just wait till tax season. When majority don’t see a cut, and others see their taxes rise, it’s all over for these republicans. Price to pay for handing over the keys of legislation to our corporate lords. This plan was bought and paid for by the corporate elite donors….. the republicans even admit that their donors stated to get this passed or they are done with them.

  185. leftwing says:

    “Why should a small bridge in east Hanover take 18 months to be rebuilt?”

    The same reason the 80 ft span over the train tracks in Summit has been down for over a year with no end in sight. Or the same reason the 100 foot span over the passaic between chatham and summit was down for 18 months.

  186. leftwing says:

    For those lamenting how this bill was passed simply substitute “obama” for “trump” and “obamacare” for “tax bill”.

    Although I guess there were some differences….Obamacare was jammed through by one vote as well but they waited until Christmas Eve for the vote and dropped 2300 pages (not 400) on the opposition immediately prior.

    History….it’s a b1tch.

  187. Grab them by the puzzy says:

    the rich won’t and that’s why we are giving them a tax cut.

    the rich aren’t interested in living like you

    Hold my beer says:
    December 2, 2017 at 10:59 am

    I am quite happy to shop in Walmart , Aldi, and buy bass pro shop fishing gear and shoes and drive a 10 year old car, and do my own lawn care.

  188. 3b says:

    Hold same thing here. We save and spend our money on nice vacations restaurants concerts. Kids are out of college and all paid for no loans. There are positives to getting married young. This tax plan is a give away in many respects but many will be fine in other parts of the country. So I am ambivalent about the whole thing. The country has been going down the drain for years.

  189. Daddy Deported says:

    I think our baby Pumps would have turned out exactly the same, even if we didn’t drop him a few times. As a toddler you could tell he didn’t have what it took to get through High School.

  190. Daddy Deported says:

    In Blue States nimrod. To quote Hillary Clinton, “At this point, what does it MATTER?” My wife told me I shouldn’t f.uck teenagers in front of you, but I contend it wouldn’t have mad a difference.

    Just wait till tax season. When majority don’t see a cut, and others see their taxes rise, it’s all over for these republicans.

  191. The Original NJ ExPat says:

    When I was 20 years old I was on top of the world. I had a legitimate off-campus apartment and a $4 per hour job. My share of the apartment was $80 per month and I was making a ton more than that, plus I owned a convertible sports car. I seriously considered giving up college because my life was so great. I don’t think that Pumpkin even got to that point, yet he quit trying and we are seeing the fallout here every day. His wife is not even that bad looking, I’m sure she’ll move on.

  192. The Original NJ ExPat says:

    Lesson to parents: Divert your progeny from the Post Office when they drop out of High School. Otherwise, they will pretend to be someone of intelligence on some obsucre real estate blog and further stunt their future.

  193. The Original NJ ExPat says:

    News Flash: HS dropout lives off his wife’s income, pretends to be a smart guy.

  194. The Original NJ ExPat says:

    Claims to have 3 degrees. Actually has none.

  195. Juice Box says:

    re: :massive home renovation”

    Yup my SIL insisted on it, small lot so so block in Bergen County. House is now just shell with the box slapped on the back, yard will be a postage stamp now and it won’t be move in ready until Feburary at least.

  196. The Original NJ ExPat says:

    Flood plain in Bergen County is better than anywhere else.

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  198. Libturd sporting Tiger Wood says:

    HMB,

    Nice job with the expiring meat. A while back, I made hamburger helper with Wagyu. Same deal. Best cheeseburger mac ever!

  199. Blue Ribbon Teacher says:

    The most flavorful cut of beef is the outside skirt. Make the Mac and cheese with that. It will be awesome.

  200. Libturd sporting Tiger Wood says:

    The skirt tastes wonderful, but hard to make tender. The soft side of a t-bone or Porterhouse is my desired cut (it’s a Filet Mignon I think, but tastes better cooked with the bone.

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  202. 3b says:

    Juice sorry for your sister in law she is screwed as well. Nothing one can do. Can’t fix stupid people or envy!!

  203. Fabius Maximus says:

    Trying to compare this Tax Bill to O Care is lame. Keep hidden until 1 hour before the vote, no discussion, handwritten amendments, is this how democracy is supposed to work?

    Is it 1T or 1.5T at this point. Regardless which, the GOP have given up the mantle of Fiscal conservatism. Not that they really held it in the first place. At least W tried to hide his failed cuts behind Bills surplus.

  204. Fabius Maximus says:

    Love skirt steak. Cut it on the bias to make it more tender. But a $8.99/lb its not the bargain it used to be.

  205. Fabius Maximus says:

    So Flynn is the First of the Administration to go down. Only 167 more to match the Greatness of Reagan. I don’t think Pence will ever see the big seat. I think he drops before Donnie. President Ryan is more likely.

    Donnies Legacy will be the 40yr slog out of this mess.

  206. Blue Ribbon Teacher says:

    Cutting the skirt right makes it tender enough for me. Fun fact about Skirt Steak. It used to be even cheaper…but Japan, who has tariffs on every single product we sell, completely lifted the tariffs on skirt steak so they could import it en masse. When I was poor and in grad school, I mostly ate pork and chicken. I used to buy the chicken’s whole and debone the cuts myself. The only time I treated myself back then was to skirt steak.

    My second favorite cut is hangar steak. Great flavor on that one as well.

  207. joyce says:

    Fabius,
    Ignoring everything else for better or worse, why do you think there was a surplus?

  208. The Great Pumpkin says:

    You are an idiot!! Btw, my wife is hot, not just alright. Still can’t believe you bust my balls like this. You really think I didn’t graduate high school? Wtf!

    The Original NJ ExPat says:
    December 2, 2017 at 3:12 pm
    News Flash: HS dropout lives off his wife’s income, pretends to be a smart guy.

  209. The Great Pumpkin says:

    Yes, I tried to ignore it, but enough with the hs bs!

  210. Daddy Deported says:

    Daddy Deported says:
    December 1, 2017 at 11:42 am
    ABC – the new king of fake news.

  211. The Original NJ ExPat says:

    Post some pics of her spraying pancakes onto a hot griddle.

    You are an idiot!! Btw, my wife is hot, not just alright.

  212. Daddy Deported says:

    Son, just ignore that ExPat guy. His wife probably has no smell at all and doesn’t even know how to make a Gołąbki.

  213. HudsonCarnac The Magnificient says:

    Fab, don’t despair.

    #1 Question in deep politics is “what have you done for me lately and what are you going to do for me now?”

    With this in mind. Trump death warrant is sealed. Elected outside of the GOP establishment machine, he has done them a great favor – the big bucks donor surely appreciate it, along with the ideological crowd which appreciates all the conservative judges.

    But he’s not one of them, he’s uncouth, he attracts to much attention, when you do every under the fog. So now they don’t need him. They’ll get rid off him asap.

    It will be fast and furious when the moment comes, because it the evidence will show money laundering, tax evasion and a very high hint of treason based on Trump’s big mouth and own Governor Lepetomane’s style (Blazing Saddles).

    Now that he packed the courts with their fellow ideologues and make sure the well-off remain well-off like Latin American 500 yrs old conquistadores’ families, they don’t need him.

    He’ll be out sooner than you think and VP will come in and start his social conservative bs, and the next few elections will be all democrats. The question is are the democrats reforming or the Clinton way and power structure will stop any needed changes.

    To quote JFK- Those that make peaceful changes impossible make violent change possible. My fear is that we don’t have the social cohesion needed anymore. The locust boomers ideologues and power seeking sell-outs will need yield to changes, and we are going to be ready for the pickings sooner than you think.

  214. joyce says:

    Fabius,
    I know you’re not into debating it because it’s wrong. Every year the total debt went up. Every one. Yes, the deficit was the smallest and it was better then, but there was no balanced budget or surplus.
    http://www.craigsteiner.us/articles/16

  215. leftwing says:

    “Trying to compare this Tax Bill to O Care is lame. Keep hidden until 1 hour before the vote, no discussion, handwritten amendments, is this how democracy is supposed to work?”

    Fabs, you’re right. Saying the processes for OCare and this Tax Bill are equivalent is wrong. The Dems were MUCH worse with OCare.

    They did exactly what you detail above – only releasing the ‘final’ version upon the vote, real time amendments still flowing thereafter, meaningless de minimus debate. And for kicks….

    To buy the final vote needed in the Senate to get their one vote margin for Ocare they gave Nebraska a totally different and higher Medicaid reimbursement than any other State. That bought off the Nebraska Senator to vote yes. At least Collins was bought with something that helped every citizen, not just her State’s.

    And of course don’t forget about how they were able to get it rammed through before recess on Christmas Eve by short circuiting the legislative process. They could not afford to wait for the OCare Bill to come from the House so they took an open HR Bill, gutted the entire contents, pasted OCare text, and passed that.

    That OCare Bill passed by the Senate on Christmas Eve before recess had nothing to do with OCare nor was it the one referred from the House. It was a housing tax credit bill for the military, with its contents deleted, and OCare stuffed in instead.

    Yeah, lecture me more about how democracy is supposed to work and how Parties end run it.

    Christmas Eve vote, 2500 pages, in an appropriated Bill.

    Next.

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