No tax doomsday? Yet?

From Bloomberg:

Million-Dollar Home Values Gain Even as Tax Deductions Shrink

Adam Blaylock was pretty sure he overpriced his Santa Clara, California, home by offering it in February for $1.48 million, since tax deduction changes would keep buyers away. But within a week, the 1,280-square-foot ranch-style house was in contract for $155,000 above asking.

The $1.5 trillion tax overhaul President Donald Trump signed in December capped mortgage-interest deductions on loans up to $750,000, down from the prior limit of $1 million. It also set a $10,000 maximum for state and local tax deductions, which were previously unlimited. Those provisions prompted one of the most powerful lobbying groups — the National Association of Realtors — to warn that home prices in some high-end markets would tank.

So far though, those areas have proven to be resilient. There are 308 U.S. ZIP codes that have homes with median values in excess of $1 million — more than 92 percent of them saw their median home prices increase in March from a year earlier, according to data from online real estate database Zillow.

“We are seeing the opposite of what was expected,” said Aaron Terrazas, senior economist at Zillow. “We have certainly not seen the doomsday predictions play out.”

This entry was posted in National Real Estate, Politics, Property Taxes. Bookmark the permalink.

163 Responses to No tax doomsday? Yet?

  1. Ottoman says:

    No collusion. Lol

  2. Yo! says:

    The housing doomsday people, including Rep. Gottheimer and his sycophant NJAM reporter Jonathan Salant, will continue to be humiliated by housing market reality. Supply and demand dynamics are stronger drivers than tax policy and interest rates. And today in most parts of the US, inventory is low and buyer sense of urgency is high. Hence rising home prices.

  3. chicagofinance says:

    The inability to deduct SALT beyond $10,000 is an ephemeral concept to people. Most individuals have a difficult time conceptualizing things beyond the simple monthly payment. If there is no (or minimal) impact this year, wait until April/May 2019, when we hear tales of woe. We actually might see people barfing up these properties under duress. Buyers remorse.

  4. grim says:

    At least we’re raising taxes on the way up, not the way down.

  5. Bloomberg News says:

    Turns out with the AMT I was not getting the deduction anyway. I don’t think Canada gets any mortgage deduction at all and their prices are insane in Toronto, Vancouver, etc..

  6. leftwing says:

    Can’t figure out if Gottheimer is a liar or idiot. He was actually on CNBC about a week ago bemoaning how prices in NJ are declining.

    I vote idiot. Probably accepted without question some poorly constructed analysis by a 19 year old staffer son of a political donor who can’t even find the ‘on’ button of a calculator.

  7. nwnj says:

    Otto is exhibit A for why fake news has become such a problem. Too many people in the country who have a limited capacity to think crtitically beyond what the fake news headline tells them.

  8. leftwing says:

    I really like zillow. Based on the lead-in I hopped into their data. I may be going down the rabbit hole today. Downloaded a few files including median price per ft2 of 14,000+ zip codes.

    At first glance of that file the top 200 or so are overwhelmingly NY and Bay area. Boston punches in for a handful. One-offs include somewhere in Hawaii and a neighbor hood in Vegas. A few are Jersey City.

    Top is a zip in Palo Alto at $2000 per ft2. JC in at rank 145 at $866. Need to massage the data a bit, it is month to month back about a decade. There are some adjustments needed as well (one month Medina WA shows $11k per ft2, presume some Microsoft or Amazon exec purchased a massive tract). Very interesting in the aggregate so far.

  9. leftwing says:

    So for shites and giggles I decided to find where the ‘most valuable’ NJ suburb is on the list.

    Where does the top NJ suburban neighborhood land in the national scheme of things?

    Without surprise, it is Alpine.

    At risk of sending posters into Afib whose near entire self worth and identities are tied to the location of their homes…..Alpine ranks 375th nationally.

    Yep, the top of the top of NJ suburbs has 374 more valuable neighborhoods ahead of it….

    Some other rankings:
    440 Short Hills
    611 Summit
    685 Millburn
    726 Princeton

    and……

    2512 Wayne

    But, hey, we’re still the center of the universe (in our minds).

  10. Yo! says:

    Gottheimer’s election was funded the National Association of Realtors, making Gottheimer the NAR’s puppet in Congress. The NAR tells Gottheimer and his staff what to say, and they say it. Ironically, days after Gottheimer took office, his twenty something communications director was already violating ethics rules by using government resources for campaign purposes, in one instance using his House email address to send an email bragging about how much money Gottheimer was raising.

    Gottheimer his a dirty man and a great fundraiser, implying he will represent N.J. in Congress for years even decades.

  11. Fast Eddie says:

    Trump made the announcement on Twitter Wednesday, saying “Secretary of State Mike Pompeo is in the air and on his way back from North Korea with the 3 wonderful gentlemen that everyone is looking so forward to meeting.”

    Trump added that Pompeo had a “good meeting” with North Korean leader Kim Jong Un.

    Trump is planning a historic summit with the North Korean leader.

    https://www.yahoo.com/news/latest-pompeo-returning-3-americans-detained-nk-124640882–politics.html

    Winning!

  12. Yo! says:

    Gottheimer’s property tax bill is $35,000.

  13. Fast Eddie says:

    Meanwhile, MSNBC is talking about Stormy Daniels.

  14. Californicator says:

    Kill Your Television

  15. grim says:

    I hear Iran set fire to the nuclear agreement and a US flag on tv.

    Government officials seen chanting death to America.

    Trump made the right decision.

  16. Juice Box says:

    So Cuomo appointed the Nassau County DA to look into the role playing Slave Master of an Attorney General? Since when does a Governor appoint a special prosecutor? According to the rules New York Solicitor General Barbara Underwood will serve as the acting Attorney General until the New York State Legislature appoints an interim replacement.

  17. Fast Eddie says:

    The guy is turning out to be one hellavu president. Holy sh1t, the left is in meltdown mode and this guy truly is getting things done.

  18. The Original NJ ExPat says:

    That’s how I felt back in 2005/2006. Our 1926 Georgian Revival style condos needed a new roof and re-pointing of the all brick buildings (50 units, 3 storeys, two mirror image buildings with a central garden). The assessment came to about $8,000 per unit. There were huge, huge fights about how to pay for it as there was. The young people without any equity wanted to take out a huge loan and pay for it monthly. The people with equity, including me, just wanted to pay for it outright. Do your own re-financing if you need to (and that’s how we went). If we waited just a year or two the buildings might be falling down right now. As it turned out we had another similar assessment about 4 years later, stainless steel lining of the fireplaces (46 out of 50 units had fireplaces with crumbling terra cotta linings). You should have seen how pissed off the 4 unit owners were who had to share in the assessment but didn’t have fireplaces were. Some underwater owners did default their mortgages and were ultimately foreclosed. The worst was a young couple. They had one of the rare, but large 1 BR places, most of the units are 2BR, all of them single bath. There are two units, including theirs, that had faux fireplaces. The fireplace looked like most of the other units, but because of the large foyer (6 addresses, 6 foyers, arranged around the courtyard) there were two 1 BR units that were large and had fireplaces, but there was no flue or chimney. Imagine being under water on your mortgage, buying your place thinking you had a working fireplace, and then being charged $7K so that all of your neighbors could have working fireplaces. The young couple bought at the top of the market and were eventually foreclosed.

    At least we’re raising taxes on the way up, not the way down.

  19. Juice Box says:

    I bet the cops are happy they have cameras now.

    The incident is caught on what appears to be the officer’s body camera video, posted by Denver 7.

    The young man then threatens the officer: ‘Guess what? I’m about to get you fired you f***ing b****h.’

    The officer, responding to Jordan’s tirade about how his father, the mayor of Denver is going to be able to fire the cop, says to the young man: ‘Of Denver? Well you’re in Aurora.’

    In the 20-second clip, the officer also sarcastically snips, ‘Your father is going to be proud.’

    On Jordan’s ticket, the officer wrote: ‘Attitude very poor-see video.’

    When the mayor’s son appeared in court, he agreed to pay a $250 fine, but declined reporters’ questions about the incident.

    http://www.dailymail.co.uk/news/article-5706835/Mayor-Denvers-22-year-old-son-curses-berates-officer-pulled-speeding.html

  20. The Original NJ ExPat says:

    Out of the 50 units there are two basement units that look like silence of the lambs sets compared to the rest of the units, that also have no fireplaces. But the unit that that young couple bought is one of only two grand “above ground” units that do not have a working fireplace, just a faux fireplace that looks just like all of the working fireplaces. There are probably 4 more 1 BR units facing Chestnut Hill Reservoir, but they not only have nice views, but also working fireplaces. Vast majority of units are 900-1100 square feet with high ceilings and working fireplaces.

  21. Libturd, AKA Dr. Howie Feltersnatch says:

    This is an interesting chart. NJ also leads the country in highest car insurance premiums. Ever wonder how much a claim ends up costing you? After one major claim (>2K), your premium goes up $455 for three to five years on average. So if you are not getting $2,000 worth of work over your initial $1,000 deductible (that’s what I choose since I rarely have claims), you are better off paying out of your pocket. Pretty good stuff to know.

    http://www.mymoneyblog.com/auto-insurance-accident-premium-increase.html

  22. The Great Pumpkin says:

    Some other rankings:
    440 Short Hills
    611 Summit
    There are 42,000 zip codes in the USA. That puts millburn and Princeton within top 2% and Wayne in the top 5%. Pretty exclusive if you ask me.

    “685 Millburn
    726 Princeton

    and……

    2512 Wayne

    But, hey, we’re still the center of the universe (in our minds).”

  23. The Great Pumpkin says:

    Short hills is in the 1%.

  24. The Great Pumpkin says:

    And remember, nj didn’t have the run up in prices YET. It’s coming, esp as all the cheap desirable alternatives to nj have had huge run ups in pricing that have put them on par or higher than nj. I don’t think there are any cheap desirable places left in America during this current run up in housing we are experiencing. There is no cheap desirable alternative to nj anymore.

  25. Hold my beer says:

    We’re #2,512 is frequently chanted by crowds and is probably the goal of the Browns.

  26. The Original NJ ExPat says:

    Lib – Same here, we choose a high deductible and never file a claim. A few years ago some woman rear-ended my Mazda 6 while my wife was driving. No real damage except for two imprints of the woman’s license plate bolts in our rear bumper. No police report, no nothing. I just went and got a few estimates and charged her the highest one, about $600 and she promptly mailed us a check. Never got the bumper repaired, of course.

    I heard, literally heard, no internet back then, that NJ has the highest average car insurance premiums, supposedly because the state is so dense that there is not a single zip code that is considered rural.

  27. Bystander says:

    No, instead in had the run up in property taxes, moron and that ain’t stopping.

  28. The Original NJ ExPat says:

    BTW, In NH auto insurance is optional. When we lived there we had insurance anyway, since we had assets to protect. My wife’s sister’s family, OTOH, hasn’t paid for car insurance in her entire life. She followed her boyfriend, now husband from Syracuse University to NH and has never written a car insurance check.

  29. The Great Pumpkin says:

    Bystander,

    So did all the other desirable areas. What do you think, they would stay cheap with a growing population?

  30. The Original NJ ExPat says:

    I think most people of any means in NH just have a rider on their homeowners policy to cover their vehicles.

  31. The Original NJ ExPat says:

    Live Free or Die

  32. Bystander says:

    Over 20 years, Brooklyn had huge tax abatements for new condo developments. Take that nut out and you can afford a whole lot more. JC has not had a tax reval in 30 years and are fighting it tooth and nail. I wonder why? Seriously, are you this brain dead? Going to NJ burbs with 15 tax bill already in place (and rising) will cap price appreciation. Of course, big wage inflation is coming.

  33. Bloomberg News says:

    There was news before internet, NJ always was noted as the highest or near highest rates in the country. One, (the only?) think McGreevy accomplished was changing the rate process* to lower us to 48th or so in the nation.

    *removal of the mandatory health injury/insurance rider

  34. The Great Pumpkin says:

    Bystander,

    I see 15,000 taxes in every desirable market in any state. The one’s not there yet, will be there in short time with all the new infrastructure costs. Just think of all those roads and schools being built. Then have to hire teachers and police…..they will be here in no time.

    You see all those teacher protests? No longer getting away with crappy education system. They want higher pay and higher funding for the schools. That era of cheap taxes in these red states is over. When lots of families move to an area that was considered a retirement area, they drive up the costs dramatically with their needs.

    South Carolina is the latest state to get hit by the teacher protests. Did anyone actually think a huge growing population would not demand better services especially in education? This was inevitable.

    The northeast has spread to the rest of the country. These people fleeing the northeast want the same quality of life they had in the northeast.

  35. Bystander says:

    You’ve reached a new level of stupid with that post. I thought “the beer store is hiring therefore economy is great” was dumbest. Protesting teachers (in states where they earn under 49k) now means they will get 15k tax bills. Geez, I can’t believe you get income from any type of analysis.

  36. Blue Ribbon Teacher says:

    Teachers in those states were long overdue raises. It has nothing to do with demographics.

  37. The Original NJ ExPat says:

    Bullsh!t.

    I see 15,000 taxes in every desirable market in any state.

  38. Libturd, AKA Dr. Howie Feltersnatch says:

    You all better carry that Bodily Injury Liability and pay up for the 300K minimum coverage. The other coverages will defray your repair and personal injury costs. You need to be covered if you are at fault and you get your pants sued off. 100K is the bare minumum I would go. I know some who do way less.

  39. Californicator says:

    The difference in paying taxes in NJ and everywhere else?

  40. Libturd, AKA Dr. Howie Feltersnatch says:

    Look up some properties in Wyoming or in Florida.

  41. Libturd, AKA Dr. Howie Feltersnatch says:

    I friends who live in highly desirable Westin Florida. Good schools to boot. It’s modern planned community. Heck, nothing was there before 1995. The city is proposing to keep the property tax rate of $2.39 for every $1,000 of taxable property value — the fourth year in a row it has done so. Property taxes are $10,200 on a 700K home.

    https://www.realtor.com/realestateandhomes-detail/366-Fairmont-Way_Weston_FL_33326_M50585-72069

    I just randomly picked the first home I found there. This is an expensive one.

    A more typical 330K home there has $2,900 in property taxes. Blow it out your ass.

  42. The Original NJ ExPat says:

    Hell, look up anywhere nice in Massachusetts. I now live in West Roxbury which is the only really nice suburban part of Boston proper. You’ll find houses from $600,000 to $2 million and you’ll never see a tax bill approaching $15K PLUS if you owner occupy you get $2K(actually $1961.58) instantly lopped off your tax bill. The house we live in has a market value of about $800K (3BR, 2.5 bath, about 2000 square feet) and a tax bill of $5K which would be reduced to $3K if I owned it. That probably contributes to why our market is so hot. You’d really have to spend a lot to hit the SALT limit.

  43. Libturd, AKA Dr. Howie Feltersnatch says:

    Here’s a legit 5,500 sq foot mansion in Cheyenne WY. One of the most desirable towns in the state. 619K home. Property taxes? $3K.

    You’re a moron.

    https://www.zillow.com/homes/for_sale/Cheyenne-WY/pmf,pf_pt/60020225_zpid/44571_rid/globalrelevanceex_sort/41.777456,-104.164124,40.920776,-105.453644_rect/9_zm/

  44. Libturd, AKA Dr. Howie Feltersnatch says:

    Really, NJ is an overpriced, overtaxed corrupt dump. It’s all gonna reveal itself soon enough when it declares bankruptcy.

  45. Libturd, AKA Dr. Howie Feltersnatch says:

    Did I mention that Wyoming Ranch is on 8 acres and comes with a shed that is larger than your house in Wayne?

  46. The Original NJ ExPat says:

    Pumps – I gave you half a compliment yesterday and today you are back to sh1t for brains.

    Here’s a home in my neighborhood. $1.3 million asking price, sleepy neighborhood on low speed limit one way street (imagine that!), 6 BR, 3.5 baths, 3800 square feet.

    Tax bill? $8,300. Take off $2K for the Boston residential exemption and now you are down to $6,300.

    https://www.realtor.com/realestateandhomes-detail/131-Maple-St_Boston_MA_02132_M39009-10005

  47. The Original NJ ExPat says:

    ^^^ LOL I didn’t even look at the pictures. Includes 3 car detached garage with beautiful in-law apartment above.

  48. Libturd, AKA Dr. Howie Feltersnatch says:

    This is fun.

    Wayne’s best grade school.

    https://www.niche.com/k12/packanack-elementary-school-wayne-nj/

    70% reading /66% math proficiency

    Cheyenne’s best grade school.

    https://www.niche.com/k12/poder-academy-cheyenne-wy/?map

    85% reading / 85% math proficiency

    Now dare me to look up how much the average teacher is paid in each school.

  49. Libturd, AKA Dr. Howie Feltersnatch says:

    avg. teachers salary

    Cheyenne – $50,371

    Wayne – $63,711

  50. Fast Eddie says:

    And once again, you guys have no idea you’re being trolled.

  51. The Original NJ ExPat says:
  52. The Original NJ ExPat says:

    I’m telling you, there used to be some hot HS girls in Wayne. Ah, to be 22 again when that was still cool.

  53. chicagofinance says:

    I don’t really care about the politics, but I’m driving in this morning and I hear one commentator say to the other “….. yeah, but do you know how easy it is for North Korea to acquire a few more?” WTF? Just report the news…… keep your biased crap to yourself…..

    Fast Eddie says:
    May 9, 2018 at 8:54 am
    Trump made the announcement on Twitter Wednesday, saying “Secretary of State Mike Pompeo is in the air and on his way back from North Korea with the 3 wonderful gentlemen that everyone is looking so forward to meeting.”

  54. The Original NJ ExPat says:

    Of course I had an adult girlfriend too. Even back in the early 1980’s you couldn’t really take a 16 year old away for the weekend. 17 yes, 16 no.

  55. Libturd, AKA Dr. Howie Feltersnatch says:

    PLUG had good earnings. Only lost 9 cents per share. Stock up to 1.96. Where did Blumpy suggest it be bought? $2.50.

    Pr1cel1ne (Book1ng.com) reports today. Had anyone taken this janitor’s advice, you would have doubled your money.

  56. The Original NJ ExPat says:

    Back in the scary AIDS days your best method of protection was HS girls.

  57. The Great Pumpkin says:

    Does whyoming even take the parcc testing? Doesn’t even matter, you listed a magnet school. In nj, that magnet school would get 100% or close to it. Only 13,000 more paid for the avg teacher, and our scores blow them out the door.

    Btw, James Fallon was ranked no 20 elementary schools in the latest state ranking in nj.

    Libturd, AKA Dr. Howie Feltersnatch says:
    May 9, 2018 at 11:24 am
    This is fun.

    Wayne’s best grade school.

    https://www.niche.com/k12/packanack-elementary-school-wayne-nj/

    70% reading /66% math proficiency

    Cheyenne’s best grade school.

    https://www.niche.com/k12/poder-academy-cheyenne-wy/?map

    85% reading / 85% math proficiency

    Now dare me to look up how much the average teacher is paid in each school.

  58. The Great Pumpkin says:

    Lib,

    I said to trade plug not hold long term.

  59. The Great Pumpkin says:

    Expat,

    Let me do some research into your state. No way they can spend like nj and not come close to the tax revenue collected. Where do they get the money from?

  60. Libturd, AKA Dr. Howie Feltersnatch says:

    Pumps. You are a troll. Back on ignore. Nothing worse than wasting 15 minutes to prove you wrong and have you straight up ignore the facts.

  61. Hold my beer says:

    Libturd,

    My kid’s elementary school in Texas was 92% for reading and even higher for math.

    And we don’t have to live on a highway

  62. 3b says:

    You are all wrong and pumps is right. It all goes back to a house in Wayne!!

  63. Libturd, AKA Dr. Howie Feltersnatch says:

    And I didn’t look for outliers. I just picked the first two properties I found. Same with the schools.

  64. Hold my beer says:

    Pumps

    Your elementary school isn’t even in the top 20% in jersey. How is that elite?

  65. The Great Pumpkin says:

    Careful with that. It’s based on your states’s own standards and the test they choose to use.

    Hold my beer says:
    May 9, 2018 at 11:54 am
    Libturd,

    My kid’s elementary school in Texas was 92% for reading and even higher for math.

    And we don’t have to live on a highway

  66. The Great Pumpkin says:

    You are comparing a magnet school from one state to a normal public school in another state. Why don’t you compare a magnet school from jersey to that school.

    Libturd, AKA Dr. Howie Feltersnatch says:
    May 9, 2018 at 11:51 am
    Pumps. You are a troll. Back on ignore. Nothing worse than wasting 15 minutes to prove you wrong and have you straight up ignore the facts.

  67. It all starts at bottleking says:

    But the bottle king in Wayne is hiring therefore the taxes are justified.

    Who cares about the school systems in others states doing better while using less money.

    I make up my own facts as needed and ignore the facts I don’t like.

  68. The Great Pumpkin says:

    Dude, what are you talking about. Nj and MA are consistently in the top of national rankings. Better and cheaper? Wtf?

    It all starts at bottleking says:
    May 9, 2018 at 12:12 pm
    But the bottle king in Wayne is hiring therefore the taxes are justified.

    Who cares about the school systems in others states doing better while using less money.

    I make up my own facts as needed and ignore the facts I don’t like.

  69. The Great Pumpkin says:

    So I guess hold my beer’s school is better than this one, because his state gives a 92% rate in reading. Dream on.

    Can only imagine what they use in Texas to get a 92% rate.

    “Wandell School is an elite, public school located in Saddle River, NJ. It has 177 students in grades PK, K-5 with a student-teacher ratio of 9 to 1. According to state test scores, 77% of students are at least proficient in math and 82% in reading.”

    “Alpine Elementary School is an elite, public school located in Alpine, NJ. It has 152 students in grades K-8 with a student-teacher ratio of 6 to 1. According to state test scores, 67% of students are at least proficient in math and 87% in reading.”

  70. Hold my beer says:

    Pumps

    You guessed correctly

  71. Hold my beer says:

    Pumps

    My school district day is 65 minutes longer than yours. Maybe that’s why the scores are better than the elite NJ schools.

  72. The Great Pumpkin says:

    Well more power to you and good for your kids.

  73. The Great Pumpkin says:

    You guys are right, nj education system is nothing special. Happy?

  74. Californicator says:

    Correct. Pumpkin i’m Sorry but it’s Game Over . Nice work fellas.

  75. The Original NJ ExPat says:

    This might come as a shock to you Pumps, but Boston has something called ratables, what you might call businesses. I’ve heard that Manhattan has a few as well.

    Expat,

    Let me do some research into your state. No way they can spend like nj and not come close to the tax revenue collected. Where do they get the money from?

  76. The Great Pumpkin says:

    Since nj education system is nothing special, does this apply to MA too? Just wondering.

  77. The Original NJ ExPat says:

    Here you go Pumps.

    Boston ’17 Revenues
    69% Property Tax Revenue
    15% State Aid
    17% Other Local

    https://www.cityofboston.gov/images_documents/04%20Revenue%20Estimates%20and%20Analysis_tcm3-53285.pdf

  78. The Great Pumpkin says:

    Expat, so they put the tax burden on businesses? I thought that’s a no no?

  79. The Original NJ ExPat says:

    Keep in mind that Landlords don’t get the residential exemption. You get the $2K break on a single property, ostensibly your primary residence. It doesn’t even matter how much the property tax is on your property, you still get a $2K break. If you own a modest studio apartment you might pay zero.

    It’s good to be the king.

  80. The Original NJ ExPat says:

    Businesses, including landlords ^^^.

  81. The Great Pumpkin says:

    Nj should just learn from these other states and lower property taxes, but raise everything else.

  82. The Original NJ ExPat says:

    Also keep in mind that parts of Boston are very dense and only the smart, the rich, and the very poor have their kids in public school.

  83. The Original NJ ExPat says:

    Tons and tons of college students with no kids too.

  84. The Original NJ ExPat says:

    Bostn
    78,000 school age kids
    -22,000 attend private school
    ______________________
    56,000 kids attend public school
    673,000 Residents

    Only 1 in 12 residents attend public school. Winning.

  85. notBoris says:

    Who pays $100,000/mo for “advice” with no formal guarantees on ROI?

    http://thehill.com/blogs/blog-briefing-room/news/386911-mueller-contacted-drug-company-about-cohen-payment-in-november

    This administration has taken corruption to another level.

  86. The Original NJ ExPat says:

    And out of 56,000 kids in public school, the smartest 2400 go to Boston Latin. 1200 of those 2400 attended private school for grade K-6. Just don’t marry stupid and you’re all set.

  87. The Original NJ ExPat says:

    West Roxbury, MA looks like any Bergen County town. Where we used to live, near Boston College and Chestnut Hill Reservoir, there were way less than a dozen school age kids within half mile in either direction on Commonwealth Ave. All professionals, senior citizens, and college students. Also about 99.4% white. All of our kids’ friends from school live either in West Roxbury (our area, the vast majority), Roslindale, or Jamaica Plain, with just a couple really, really wealthy friends who live downtown.

  88. Yo! says:

    https://www.urban.org/sites/default/files/publication/98423/exploring_the_viability_of_mansion_tax_approaches_11.pdf

    Phil Murphy is gonna love the property tax surcharge idea in this report that is getting some traction

  89. The Original NJ ExPat says:

    Apparently our new area is only 73% white. We’re slumming it I guess. Rent for rent our house costs just slightly more than what a rental would have cost in our old area. I figure the lawyer I sold my condo to will rent it out for about $2500 per month, but there is also a $512/month condo fee. That was for 900 square feet, the smallest possible single bathroom, 2 BR, high ceilings, a fireplace, hardwood floors, and two entrances in a 1926 charming pre-war brick building. Our current place is $2,950 per month, but we have all of the amenities that are afforded by a SFH that we never had before, including Central A/C, property, etc. I played blues piano for two hours with the RCN blues music channel on cable yesterday. I had my home theater system cranked up LOUD and I was playing LOUD. I couldn’t have done that in our old place (plus I didn’t have a real piano there). I might have given myself carpal tunnel syndrome.

    Even with 3 BR and 2.5 baths my wife said to me last Summer that she just might enjoy the Central Air more than the extra bathrooms.

  90. NJDepartment says:

    State of NJ schools. Lyndhurst is the example and is the beginning.. State take over

    https://lyndhurst07071.com/2018/05/08/boe-drowning-in-debt/

  91. The Great Pumpkin says:

    Top of page 6 in the report states that millionaires are not very mobile, which I have always said, but people claim otherwise.

    Yo! says:
    May 9, 2018 at 1:45 pm
    https://www.urban.org/sites/default/files/publication/98423/exploring_the_viability_of_mansion_tax_approaches_11.pdf

    Phil Murphy is gonna love the property tax surcharge idea in this report that is getting some traction

  92. The Great Pumpkin says:

    Honest question, if nj schools are just avg, why is the state ranked so high in education rankings? Why isn’t Texas in the top 3 with their amazing schools?

  93. The Original NJ ExPat says:

    LOL. I just sent a FB friend a PM. I hadn’t sent him one in years. This was my last one:

    I think Trump’s popularity is more centrist than liberals believe as we’ve now had close to a decade where “regular” people don’t even discuss politics lest they be shouted down as racist. I think these same people are living vicariously through Trumps ability to say whatever he wants, whenever he wants just like we used to be able to do;-)

    I wrote that in December 2015.

  94. The Original NJ ExPat says:

    Corruption.

    Honest question, if nj schools are just avg, why is the state ranked so high in education rankings?

  95. Hold my beer says:

    Pumps,

    Liberal bias

  96. 3b says:

    Pumps yep. NJ schools are not the be all and end all based on the hype and the high property taxes. Are they bad? No average good decent some better than others. You might actually have your kid go through the system before deeming yourself an expert on NJ schools.

  97. NJDepartment says:

    Pump because this is the beginning.. Wait next year when people can’t deduct property tax and start Defaulting.. Lot of them..

  98. 1987 Condo says:

    Defaulting over the amount of the tax saved on the deduction? Maybe, but the folks on my block who did not make a mortgage payment since 2008 were just, last week, evicted from their “house”. 10 years!!! They had Heloc’d the heck out of it too.

  99. NJDepartment says:

    Those guys who are on paycheck-paychek cant take the hit from deduction. Lot of foreclosures in high tax states is due to this.. You can pay off your mortgage but cant payoff your RE taxes.. For life..

    Im not saying its widespread but a considerable amount on impact in NJ RE

  100. chicagofinance says:

    But not in May 2018 data…… look for people in Summer 2019 who owe big chunks of change to the IRS, and end up being fuct….

    NJDepartment says:
    May 9, 2018 at 3:00 pm
    Im not saying its widespread but a considerable amount on impact in NJ RE

  101. Bystander says:

    It is obvious that Blump has never traveled or lived outside of NJ. I am 7 years older but have lived in NJ, upstate NY (Syracuse, not Peekskill) and Virginia. It was at least enough to scare crap out of me (Syracuse) and see that others live high quality of life (No. VA). See pumps, NYC is word class but the surrounding NY metro is an echo chamber of bs in order to extract top dollar from you. Sure you came make a decent living but you can elsewhere too. You can actually prosper elsewhere as well. Blump is sadly approaching middle age completely stuck in the NJ echo chamber.

  102. NJDepartment says:

    Pump is busy reading Murphy’s ” Step by Step guide to deduct federal taxes by contributing to NJ Charity for Dummies”

  103. chicagofinance says:

    Elon Musk wins this year edition of Crony Capitalist of the Year …… for the 10th consecutive year…
    https://www.cnbc.com/2018/05/09/california-approves-plan-to-mandate-solar-panels-on-new-homes.html

  104. The Great Pumpkin says:

    No kidding to the idea you can prosper anywhere….a few people are getting rich in Somalia. When I speak of opportunities, I speak of the avgs. When I speak of education, I am talking about the avgs.

    When it comes to opportunity, nj consistently ranks at the top of income avgs in America. Fact. Nj also has by far the most millionaires per capita. You guys must not go anywhere else, but the rich parts of the other states to think they are on par with jersey. If they are, why do the stats not say so? I’ll let you guys think what you want, but stats don’t lie.

    When it comes to education, nj is respected across the country. Everyone and their mother knows this, but some on this board claim otherwise, which blows my mind. Come on, ask other states what nj is known for and they will tell you quality education. Gee whiz, I wonder why. The reputation has no basis in facts, right? Just a liberal conspiracy.

    Bystander says:
    May 9, 2018 at 3:14 pm
    It is obvious that Blump has never traveled or lived outside of NJ. I am 7 years older but have lived in NJ, upstate NY (Syracuse, not Peekskill) and Virginia. It was at least enough to scare crap out of me (Syracuse) and see that others live high quality of life (No. VA). See pumps, NYC is word class but the surrounding NY metro is an echo chamber of bs in order to extract top dollar from you. Sure you came make a decent living but you can elsewhere too. You can actually prosper elsewhere as well. Blump is sadly approaching middle age completely stuck in the NJ echo chamber.

  105. Fast Eddie says:

    Mandate solar panels on new homes? Omg, will oxygen be mandated, too? This is f.ucking ridiculous.

  106. Fast Eddie says:

    Dear God, please let the civil war begin now.

  107. The Great Pumpkin says:

    Please read this, so you can stop spreading conservative propaganda about millionaire migration and taxes.

    https://inequality.stanford.edu/sites/default/files/media/_media/pdf/pathways/summer_2014/Pathways_Summer_2014_YoungVarner.pdf

    NJDepartment says:
    May 9, 2018 at 2:38 pm
    Pump because this is the beginning.. Wait next year when people can’t deduct property tax and start Defaulting.. Lot of them..

  108. 3b says:

    Pumps is in break down mode.

  109. The Great Pumpkin says:

    Another study proving it wrong.

    Can we stop spreading this crap?

    https://web.stanford.edu/~cy10/public/Jun16ASRFeature.pdf

  110. The Great Pumpkin says:

    3b,

    Unfortunately, I have to enlighten individuals drunk off conservative propaganda talking points.

    Ever notice how some conservatives hate nj, complain about it their whole life, but never leave? Now apply the same conversation to millionaires and taxes…..they might not like the taxes, and complain, but they will never leave because they are making a lot of money and would be stupid to give that up for a lower tax rate.

  111. yome says:

    2018 Best High Schools NJ is not even on Top 20

    https://www.usnews.com/education/best-high-schools/national-rankings

  112. yome says:

    A state-by-state breakdown of the 2018 Best High Schools rankings shows that Massachusetts is the leading performer in this year’s rankings. This state-by-state performance rating is solely based on which states have the largest proportion of their high schools earning gold and silver medals.

    This year, 25.7 percent of Massachusetts’ eligible schools earned gold and silver medals from U.S. News. California came in second with 25.4 percent. Maryland, the winner for the previous three years, finished third with 24.1 percent, and Florida came in fourth with 23.4 percent.

    https://www.usnews.com/education/best-high-schools/articles/how-states-compare

  113. Hold my beer says:

    Yome

    Texas 5. NJ 0 in the top 20.

  114. yome says:

    First NJ High School on the list, Bergen County Academies Vo Tech #43

  115. yome says:

    Next is #58 Bergen County Technical High School Teterboro

  116. No One says:

    When I leave NJ, I will definitely post to let you know that it was taxes and Pumpkin-heads that drove this millionaire out of the state. I have colleagues that already moved to Pennsylvania partly due to taxes.

  117. 3b says:

    Pumps I am not a conservative based on your definition or what is deemed to be the popular perception of a conservative. However I do believe in being prudent. I used to live NJ ! It was a great little state. Unfortunately morons who believe like you have destroyed it. Just look around it is literally falling apart and that’s with the high taxes you justify.

  118. yome says:

    #66,#68
    4 NJ High Schools in Top 100
    Your Property Taxes at work

  119. 3b says:

    White trash low cost Fla has good schools??!! That simply can’t be pumps says otherwise.

  120. Hold my beer says:

    NJ came in 17th, behind Kentucky.

  121. Hold my beer says:

    3b

    Florida came in 4th. NJ 17th. But Florida real estate taxes are so much higher and so is th state income tax . Oh my bad. No state income tax and you can get a 3 bdr 2 bath 2.000 sq ft house in a nice area for 250-300k.

  122. Juice Box says:

    Media tomorrow “Trump forces tired and emaciated detainees to fly 14 hours non-stop”

    Tweet from POTUS

    Secretary Pompeo and his “guests” will be landing at Andrews Air Force Base at 2:00 A.M. in the morning. I will be there to greet them. Very exciting!

  123. leftwing says:

    ^^^^post of the day lol

  124. leftwing says:

    PUH-LEASE…

    Look at your bench, starting with Podesta and all the way down. And then go all liberal dramatic…..

    The Dems made creating life changing wealth a career by selling ‘access’ and ‘advice’.

    None of these clowns actually lobbies as defined by the law. They just provide ‘background’ on how to deal with new administrations, speakers, and chairmen.

    Most of your Dems (Clintons included) start out not having two nickels to rub together yet end with tens of millions in the bank. At least the Repugs start with some cash.

    “Who pays $100,000/mo for “advice” with no formal guarantees on ROI?
    This administration has taken corruption to another level.”

  125. 3b says:

    Hold and yet pumps despises Florida bunch of white trash red necks!!

  126. 3b says:

    Left forget it. Fab will never give it to you. He will always defend his side. He really thinks the dems are better. Silly boy they all suck..

  127. The Great Pumpkin says:

    Holy lord, I can’t believe people are trying to convince me that Florida and Texas are models of education excellence. Really can’t make this stuff up.

    Are we really using ap based magnate schools as a barometer for state education? Really? Guess what, chances are your son or daughter have no shot of getting in these schools. They are almost impossible to get into. You think there is much of a difference in magnate schools? Hell no, almost all the kids are gifted and talented…best of the best.

    Again, I can’t stress this enough, I am speaking in avgs, not the 1% of schools that most kids have no shot in hell of getting into.

    yome says:
    May 9, 2018 at 4:21 pm
    A state-by-state breakdown of the 2018 Best High Schools rankings shows that Massachusetts is the leading performer in this year’s rankings. This state-by-state performance rating is solely based on which states have the largest proportion of their high schools earning gold and silver medals.

  128. The Great Pumpkin says:

    If we are speaking in avgs, yes, most of Florida is made up of trash, and it’s not just white trash….bunch different trash attracted to that state. Does that mean all? No. You have some stupid wealthy coastal areas. Even if I could afford those locations, still wouldn’t raise my family there. Don’t want to live amongst that type of crazy….and I mean batsh!t crazy.

    3b says:
    May 9, 2018 at 6:03 pm
    Hold and yet pumps despises Florida bunch of white trash red necks!!

  129. yome says:

    Pumps there are 511 Secondary Schools in NJ. There are 419 eligible High Schools on the Ranking. This are not just Magnet Schools
    There are less than 100 Magnet School in NJ

    https://en.wikipedia.org/wiki/Category:Magnet_schools_in_New_Jersey

  130. yome says:

    39 Magnet Schools in the above listing

  131. The Great Pumpkin says:

    It’s based on any school that offers AP.

  132. The Great Pumpkin says:

    Those schools from Florida are either magnet schools or some stupid rich area. Both cases, chances are that your kid is not going there.

  133. yome says:

    419 Schools offers AP out of 511 in NJ. We ranked #17 compared to other higher Ranked States High Schools that offers AP at a LOWER PRICE per Student.

  134. The Great Pumpkin says:

    Yome,

    Given a choice, I rather raise my family in nj as opposed to Florida. I don’t have this romanticized view of Florida like some people. It’s just not a great place to raise a family. The state is filled with dirtbags…the lowest of the low. No thanks!

  135. Punkinator says:

    All those Disney parks and Cape Canaveral and SunTrust Bank are staffed by dirtbags. Meanwhile Patterson is full of high class gentlemen.

  136. Fabius Maximus says:

    3b

    No, I get it. From Sharpe James and McCann, Cammanaro etc. Clinton went to the speech circuit, GWB and GWHB went to the Carlyle Group.

    I have always said that a certain level of political grift is inevitable and in some ways tolerable. But this is way beyond that.

    From one of my feeds today.
    Trumper spin today is that Trump should be allowed to be a Pay-for-Play President because “Hillary did the same thing”, hopin’ you forget they said Hillary should go to prison for it.

  137. Fabius Maximus says:

    Punkinator.

    Can’t do Palmetto bugs. I’ll take NJ.

  138. yome says:

    I was just pointing out that,justifying high cost of NJ Public Schools because of quality of education is supreme compared to other States is not what is advertised.
    Chances of AP kids going to College becoming Professional in their field is higher than non AP
    This Ranking compares apples to apples (AP to AP) and we failed.

    If we justify high cost of Public School Education to prepare kids to be a waiter etc,that is a different story

  139. 3b says:

    Pumps but you certainly have a romanticized view of NJ.

  140. The Great Pumpkin says:

    Paterson is representative for most of Florida.

    Punkinator says:
    May 9, 2018 at 8:18 pm
    All those Disney parks and Cape Canaveral and SunTrust Bank are staffed by dirtbags. Meanwhile Patterson is full of high class gentlemen.

  141. 3b says:

    Pumps there’s your liberal racism rearing its head again.

  142. The Great Pumpkin says:

    Racism? I meant that the majority of Florida is at or below the level of poverty associated with Paterson. You know the problems thst come with that level of poverty, right? Lots of crazies.

  143. 3b says:

    Oh oh ok now I understand.

  144. Chi says:

    Come on. 8 of the top 20 are In AZ and the he one NYC school is some newfangled crap. The BS detector is beeping loudly.

    yome says:
    May 9, 2018 at 4:20 pm
    2018 Best High Schools NJ is not even on Top 20

    https://www.usnews.com/education/best-high-schools/national-rankings

  145. Chi says:

    Amistad Academy in New Haven with a 90% grad rate is # 55.

    Ooooooooooops

    Fail

  146. Chi says:

    Stuyvesant HS is possibly the best public HS in the country, but certainly should be in the top 10 if not top 5. #67. All you need to know

  147. joyce says:

    Chi,
    Why is it possibly the best?

  148. The Great Pumpkin says:

    Wow, some people are finally starting to get it! About time!

    “We are at the beginning stages of a new bull market — and this bull market is going to be driven forward by earnings growth and economic expansion as opposed to that 9-and-a-half-year-old secular bull market that was driven by central bank accommodation,” the chief investment officer at Hennion & Walsh told “Power Lunch.”

    We’re in a new bull market driven by earnings and economy: Money manager – CNBC
    https://apple.news/AkiMWi64jS1ajpTmQ28H05Q

  149. The Great Pumpkin says:

    I didn’t have time to actually look over the list because I just assumed it was ap magnet based. Should have known better!

    Chi says:
    May 9, 2018 at 9:19 pm
    Come on. 8 of the top 20 are In AZ and the he one NYC school is some newfangled crap. The BS detector is beeping loudly.

  150. The Great Pumpkin says:

    Yup

    “Meanwhile, the 10-year Treasury broke above 3 percent, a key psychological level that puts markets on edge.

    However, Mahn isn’t concerned about rising rates. He said investors just need to position themselves properly.

    “Rising rates are a sign of a good strong healthy economy,” he said.”

  151. Fabius Maximus says:

    Showed up in my Jalopnik (cars ) feed. Its a depressing read!

    https://splinternews.com/elaine-chao-is-a-stealth-american-nightmare-1825893029

  152. chicagofinance says:

    We can be cynical and negative about a lot of things, but bottom line…..there is a very competitive entrance exam that draws from the kids of the entire population of NYC. For all its faults, NYC has a heck of a lot of intelligent people at the upper end of the range. The best kids are the cream of the crop of the entire country. It is ridiculous to suggest otherwise. Any evaluation criteria that leaves Stuy of the top 10 is a joke, let along leaving it out of the top 50……and I went to Hunter. Do you know how hard I bite my tongue?

    joyce says:
    May 9, 2018 at 10:23 pm
    Chi,
    Why is it possibly the best?

  153. chicagofinance says:

    let along = let alone

  154. Fabius Maximus says:

    He said that if the records are accurate, it shows that while President Donald Trump was campaigning on “draining the swamp,” his personal attorney was “selling swamp tours” in the form of access to the then-prospective president.

  155. chicagofinance says:

    I’m giving props to Stuy, and here is Wiki sh!t on my high school…..

    “In the graduating class of 2015, out of about 190 students, Hunter received 89 total acceptances from the Ivy League, and ultimately, 56 students (~30%) matriculated into one of the eight Ivy League schools. There are six guidance counselors serving the student population. Each junior and senior is assigned a college guidance counselor.[citation needed]”

    Those guidance counselors were useless idiots……

  156. The Great Pumpkin says:

    No kidding to the idea you can prosper anywhere….a few people are getting rich in Somalia. When I speak of opportunities, I speak of the avgs. When I speak of education, I am talking about the avgs. I spew bullsh!t that is exactly what you would predict and expect from a high school dropout who never set foot outside of Passaic County.

  157. The Original NJ ExPat says:

    I always joke with my MIL that she probably could never handle the emotional impact of moving to Massachusetts. Once you move out of state from NJ nobody gives a sh!t about where in Bergen County you come from. You’re just one more immigrant from Joisey. The status you think you had vanishes when you cross the state line. That’s why Pumps can never leave. If he can’t talk about his one claim to greatness, a highway house in Wayne, he becomes an actual zero, instead of the virtual zero he is right now. What would he even talk about at a BBQ? “That’s my wife, she has a college degree. Me? I’m nothing.”

  158. The Original NJ ExPat says:

    I’m pretty sure they don’t even allow people born in NJ to buy a house in Wellesley, Nantucket, or Martha’s Vineyard.

Comments are closed.