Are mortgages finally back to a solid level?

From National Mortgage News:

Mortgage delinquency rates down annually, a sign of a healthy economy

Despite an especially strong hurricane season last year, the national mortgage delinquency rate fell on an annual basis, signaling a healthier economy, according to CoreLogic’s Loan Performance Insights Report.

About 4.8% of mortgages nationwide were in some stage of delinquency in February, marking a 0.2 percentage point decline from a year ago.

The foreclosure inventory rate also fell 0.2% year-over-year in February, dipping from 0.8% to 0.6%. The foreclosure inventory rate has held steady at this reading since August 2017, the lowest level seen since it was also 0.6% back in June 2007.

“Overall delinquency rates fell in the U.S. over the past year, driven by a long run of stringent underwriting, higher employment and wages,” Frank Martell, president and CEO of CoreLogic, said in a press release.

“At the same time, our CoreLogic U.S. Home Price Index showed a 6.4% increase in home-price appreciation for the 12 months, which ended in February 2018. These factors bode well for the fortunes of both homeowners and mortgage servicers,” he said.

The share of early-stage delinquencies, describing loans that are 30-59 days past due, hit 2.1% in February, an uptick from 2% a year ago. The rate of mortgages that were 60-89 days past due remained unchanged at 0.7% on an annual basis, but did decline 0.1% from January.

Delinquency rates varied by state as factors like natural disasters took a toll on affected areas, namely Texas and Florida. Still, impacts from Hurricanes Harvey and Irma weren’t enough to negatively impact the national trend of decreasing delinquencies.

This entry was posted in Economics, Foreclosures, Mortgages, National Real Estate. Bookmark the permalink.

156 Responses to Are mortgages finally back to a solid level?

  1. grim says:

    NJ continues to outperform NY with regards to delinquency and foreclosure recovery.

  2. grim says:

    Need 6m to 1yr to fall in line with national average or below.

  3. The Original NJ ExPat says:

    That makes sense, NJ has more delinquents than just about anywhere;-)

  4. 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.

  5. grim says:

    Don’t post under other people’s handles.

    That’s one of the few rules around here.

    That and don’t post under fake handles.

  6. grim says:

    Love me love me, say that you love me.
    Fool me fool me, go on and fool me.

    What financial crisis? Free money for everyone! Legal citizen taxpayer who played by the rules? F*CK YOU.

    Phil Murphy signs bill to let unauthorized immigrants get college financial aid

  7. The Great Pumpkin says:

    got it.

  8. The Original NJ ExPat says:

    LOL. ^^^ That was an accident.

  9. grim says:

    California requiring solar panels on new homes.
    New Jersey requiring sprinklers in new homes.

    Both are feel good legislation whose cost-benefit will never be realized, that both clearly pander to both manufacturers and installers.

  10. The Original NJ ExPat says:

    “This is the world’s melting pot where people in every part of the globe can come here in the hope of a new life,, break the law, and steal our money.”

  11. The Original NJ ExPat says:

    I still think the Republicans have to figure out a way to win the hearts and minds of illegals. Then we can build a wall and Democrats will pay for it. Maybe every criminal alien who rats on 20 dangerous criminal aliens gets free citizenship?

  12. Hold my beer says:

    That’s nice how middle class Americans who don’t make enough to pay for college but too much to qualify for aid get to subsidize illegals.

  13. grim says:

    Notice how he promised to make community college free for NJ citizens during his campaign, but after he’s elected, he’s made college free for illegals.

    What the serious f*ck? I suppose he’ll say, “WE DELIVERED!”

    I’m plowing money into my daughters 529, at this rate I doubt I’ll be able to afford Rutgers.

  14. The Great Pumpkin says:

    It’s tough, but Murphy is prob right here. These kids have been here, are doing the right thing, and trying to improve themselves. If they improve, America improves. Instead of being stuck on welfare, maybe they become productive tax paying citizens. It’s prob a good investment in the longterm.

  15. The Great Pumpkin says:

    Expat,

    Don’t kill me here, just trying to make sense of the legislation.

  16. Hold my beer says:

    Free tuition at community college would have been great and would have reduced the stigma of going to one. But wouldn’t make as much noise nationally if you are a progressive politician and want to run for a higher office.

  17. grim says:

    KES.

    Kennedy Envy Syndrome.

  18. grim says:

    If peddling influence a problem, please start by clearing out the lobbyists, and throwing the Clintons in jail.

    Trump can easily deny knowledge of Cohen’s activities.

    The guy was losing everything on his idiotic taxi medallion business. It’s going to be fairly easy to show a direct line between his failing investment, huge loans, and “going rogue” to attempt to peddle influence. There are already some mumblings about him being denied a position in the cabinet, which if true makes it somewhat easy from Trump to distance himself. Perhaps Cohen did go out on his own to “fix” the issue, in an attempt to curry favor with Trump, which he could then turn around and peddle.

  19. grim says:

    Case in point, Cohen owns 34 medallions, just 3 years ago they would have been valued at $1.3 million a piece, $44.2 million.

    This year, two medallions sold for $200,000, bringing the value of his empire to $6.8 million.

    No surprise he got a collateral call from his lender, and had to put his $9m condo up to cover his loans.

    I suspect, he’s deep in the hole on those $34 medallions, probably $10-20 million or so. Two people committed suicide recently because they were in the same predicament.

    Fairly possible that he was idiotic enough to attempt to double down, perhaps interested in attempting to purchase even more medallions.

    Or, he wanted out, and to do it he would have had to come up with around $10 million to pay his debts.

    Pure coincidence that he should start this consulting company and attempt to peddle influence while he could. He saw the opportunity, he jumped on it. What better way to make the $10 million? Hell, would he have any other way to make $10 million?

    You really think Trump would give a shit about this guy’s debt? He through Giuliani under the bus the other day, RUDY GILLIAN, surely he doesn’t give a shit about this guy. Especially enough to use him as a pawn in a power brokerage scheme.

  20. Walking bye says:

    Grim -as for sprinkler systems in a home I can’t wait for my 9 year old and friends horsing around and knocking a head off with a baseball etc and flooding the place while a parents not home.

    Also the average $ costs the piloticians used seemed off. If I remember correctly they stated something around a $1.50 per sqft cost for the homeowner. Maybe that costs works in a large warehouse, but a small project residential I would guess much Hughes.

  21. grim says:

    So in an average 2,500 square foot home, $3,750 additional cost?

    Bullshit, 5x that easy. That doesn’t even cover the cost of labor.

    And, I’m sure, requires a licensed sprinkler installer, not permissible for a plumber to do it.

  22. Californicator says:

    Free Melania

  23. grim says:

    Surprised she made an appearance last night.

  24. The Great Pumpkin says:

    Sprinkler system is a joke. If it burns, it burns. That’s why we have insurance. Last thing I want is a house flooded by sprinklers. Wtf!

  25. nwnj says:

    Forget the fake news, Trump for Nobel prize.

  26. Blue Ribbon Teacher says:

    Sprinkler system is a joke. If it burns, it burns. That’s why we have insurance. Last thing I want is a house flooded by sprinklers. Wtf!

    You watch too many movies. Only 1 sprinkler goes on and it doesn’t flood the house.

  27. The Original NJ ExPat says:

    Why the hell does Ford only have one vendor for dashboard parts? The first rule of business is that you always have at least two vendors so they undercut each other for your business when the lean times come.

  28. Fast Eddie says:

    (S)he’s not a real poster! Omg!

  29. RentL0rd says:

    C’mon now, you all know that Murphy is not giving away free tuition to all undocumented people – only those who qualify. Just like anyone else who qualifies residency and income criteria. What’s wrong with making college more affordable for those who don’t have rich dads like Grim?

    It’s not like because other kids are getting an education your kids cannot?

  30. The Original NJ ExPat says:

    This is pure bullsh1t:

    The supplier, Chinese-owned Meridian Magnesium Products, has not confirmed timelines. UAW officials have warned Ford workers to be prepared for layoffs.

    “Ford has 100% of its truck radiator supports in North America coming out of the Eaton Rapids facility,” said Vadhavkar, who worked with Meridian Magnesium before retiring in September 2017 as Ford’s senior manager for stampings, structures and raw materials for supplier technical assistance in purchasing North America.

    “You don’t have multiple suppliers for a complicated part like this one. You have specialty manufacturers because it’s more efficient,” he said. “And you can’t just take molds for the casting and ship them to another plant or supplier overseas.”

  31. The Original NJ ExPat says:

    I bet illegals save a lot of money by buying sh1t cars, no insurance, and probably don’t pay tickets or points on their license. They just use a different name and get a new license. Californibator can confirm that they changed the law in LA where they don’t even tow cars illegally operated by illegals when found during a traffic stop. If you don’t have a license or insurance they now allow illegals to call somebody up who does have a license to drive the car home. It took them a while to figure out that if you tow a $500 car away nobody is coming to pick it up and pay the towing and storage.

  32. Alex says:

    With California mandating all new homes must have solar panels, it’s just a matter of time before California mandates ALL roofs must have solar panels. This is just the liberal way. Liberals know what is best for you, and they are going to ram it down your throat whether you want it or not, costs be damned.

  33. Libturd questioning the gender of Hillary's Cankle fluid. says:

    Holy Murphy. Spend, spend, spend. Every god damned fukcin day, I sit in 30 minutes of traffic trying to drive 8 miles on the GSP from Union to Bloomfield. Gator spent an extra hour a day on the train Thursday, Friday and Monday. And this complete sh1t for brains is raising taxes to spend it on immigrants so that the already impossible to find a decent paying job market where there is no wage increases will now be flooded with workers willing to do your job for half of what it used to pay. And the moron progressives think this is a good thing. If you are so hell bent on helping the innocent victims of Mexico, China, Cuba, India and the Phillipines! Spend a few hours a day on the phone with call centers. All Murphy is doing is making it harder for you and me to compete to ensure every minority in this country continues to vote Democrat. And the moron progressives here think this is a good thing. Just wait until your kid has to take French at the local community college as all of the classes offered at Rutgers were filled. Bend over!!!

  34. Punkinator says:

    Yep, sole supplier dependence is really dumb, especially for something as high volume as the F150. There could be a few things where there’s no choice, but then that supplier needs to be mandated to have excess inventory and redundancy plans.

  35. Trick says:

    Water damage would be just as bad as the fire damage, house would still have to be gutted or knocked down

  36. Juice Box says:

    Cast magnesium, like cast aluminum, is not repairable either.

    The radiator core support (which gets destroyed in a front end collision) has been made of magnesium since 2004 in the Ford F-150.

    Looks like an opportunity for an aftermarket provider to make one out of aluminum or steel.

  37. The Original NJ ExPat says:

    Trump meeting rocket boy on June 12th in Singapore.

  38. Juice Box says:

    Singapore was picked by Trump as the location for the summit do to it’s support for American fine cuisine.

    See all of these great American Resturants…

    https://www.google.com/search?q=singapore+mcdonalds&npsic=0&rflfq=1&rlha=0&rllag=1345010,103786583,6368&tbm=lcl&ved=0ahUKEwihl6CssfvaAhXRmVkKHZONBUMQtgMIPw&tbs=lrf:!2m1!1e3!3sIAE,lf:1,lf_ui:4&rldoc=1#rlfi=hd:;si:;mv:!1m3!1d59498.77471185697!2d103.86564665!3d1.3291618!2m3!1f0!2f0!3f0!3m2!1i401!2i179!4f13.1;tbs:lrf:!2m1!1e3!3sIAE,lf:1,lf_ui:4

  39. leftwing says:

    “Peddling influence” like Cohen is incredibly common. In London, I’m aware of a firm that used two notables regularly. A British ‘name’ and former German Ambassador to UK. Both active and prominent socially and in business. Have a problem getting a meeting with the CEO of a major UK or German firm? These guys got it with a personal call. Better, they educated you about the execs and the Board. Personal items that help. You get a meeting, go in fully informed, they accompany you. They have, and state up front, zero knowledge of the specific business deal and don’t participate in that at all. They’re there to open doors, provide credibility, and educate you about the execs so you can get the deal. And then after the meeting at their next shoot you’re invited and paired with the CEO. No idea what guys like these are paid but breaking the 1m mark I would think is easy. $1.2m to Cohen for Novartis isn’t even a rounding error. They’ve booked that much in revenue in less time than it’s taken me to type this. I’m sure they half a dozen more of similar situations they funded trying to figure out Trump.

    Also, a corollary, the less known the entity you are targeting the more valuable the “peddler”. Having access to the Bushes is likely worth very little, they are well known entities, have many points of contact, a long history, and have well defined interests that are fairly transparent to outsiders. Trump? Holy cow, entire jump ball. Came out of nowhere, few contacts, totally opaque and constantly changing interests….I’m surprised Cohen didn’t have many more of these arrangements. Being that close to Trump for that many years is a very valuable commodity. Media is reporting he was ‘passed over’ for the Cabinet. I’d put my money on he didn’t want it. Door number 1, he can take a $160k a year government job with the press up his ass sideways on everything or door number 2 he can stay in the background, keep a direct line to the President, and pick up a bunch of $1m chits outside of any purview and within the law for a couple phone calls and dinners he is having anyway? I know which door I’d choose…

    Too bad the SC fcuked it all up for him……

    “The guy was losing everything on his idiotic taxi medallion business. It’s going to be fairly easy to show a direct line between his failing investment, huge loans, and “going rogue” to attempt to peddle influence. There are already some mumblings about him being denied a position in the cabinet, which if true makes it somewhat easy from Trump to distance himself. Perhaps Cohen did go out on his own to “fix” the issue, in an attempt to curry favor with Trump, which he could then turn around and peddle.”

  40. The Original NJ ExPat says:

    Pretty soon Pumpkin will really be able cash in on his highway house. All he has to do is pave the front lawn for parking and rent out rooms to illegals. Landlords and Food companies love, love, love illegals. Food companies doubly love them because they both hire them and sell to them.

  41. The Original NJ ExPat says:

    I guess energy companies love illegals too. They probably use more fuel than whitey per capita.

  42. Juice Box says:

    There were 100 million less people in this country back in 1969.

    “The rate of layoffs in the U.S. stuck near a 49-year low in early May, just more proof that an ultratight labor market shows no sign of softening.

    Initial jobless claims were unchanged at 211,000 in the week ended May 5, the government said Thursday. Economists surveyed by MarketWatch had forecast a 215,000 reading.

    The more stable monthly average of claims, meanwhile, fell by 5,500 to 216,000 to touch the lowest level since December 1969.”

  43. The Original NJ ExPat says:

    I wonder if anyone is working on a jet pack for transportation that also converts to a leaf blower when you land.

  44. The Original NJ ExPat says:

    It was even in advertising jingles. There was probably a coke or pepsi ad from my youth that had they lyric “200 million people.” Tried to find it online but didn’t succeed.

    There were 100 million less people in this country back in 1969.

  45. Juice Box says:

    re: “idiotic taxi medallion business” Ask was $200,000 at the last auction and NO BIDS!
    I had a coworker here a few years ago who “owned” a medallion as his side business just as Uber, Lyft was taking off. He leveraged himself with his own people Brooklyn Russians to get the financing for one. I wonder if he still has all his fingers?

  46. 1987 Condo says:

    202.7 million US population in 1969

    https://www.google.com/search?q=us+population&ie=&oe=

  47. NJDepartment says:

    This is before everyone filing their 2018 taxes. Once they take hit on SALT, the delinquencies will raise fast… Wait for April 2019…

    Dont worry, Pump will come with some stupid logic talking about Murphy’s charity tax program which will bail out all NJites.. Even then, there is no charity to fake, to get tax deduction for NJ local income tax..

  48. The Great Pumpkin says:

    Bingo! If a fire starts, let it burn!

    I actually hope my breaker starts a fire in my multi when no one is there. Would be sweet to have a brand new house paid for by insurance.

    Trick says:
    May 10, 2018 at 10:37 am
    Water damage would be just as bad as the fire damage, house would still have to be gutted or knocked down

  49. The Great Pumpkin says:

    If you can’t afford a home without tax write offs, go be a renter! I like the write offs, but dont include write offs in your accounting of whether you can or cannot afford the home.

    NJDepartment says:
    May 10, 2018 at 11:06 am
    This is before everyone filing their 2018 taxes. Once they take hit on SALT, the delinquencies will raise fast… Wait for April 2019…

    Dont worry, Pump will come with some stupid logic talking about Murphy’s charity tax program which will bail out all NJites.. Even then, there is no charity to fake, to get tax deduction for NJ local income tax..

  50. dentssdunnigan says:

    Sprinkler systems must maintained to operate properly .e In addition to the monthly and quarterly
    inspections and tests, NFPA
    25 has very detailed and specific
    inspection, testing and maintenance services that need
    to be performed on an annual basis. Because of
    their complexity, and to comply with state
    law, these services must be performed by a
    licensed sprinkler contractor

  51. NJDepartment says:

    Pump, a lot of people bought homes in NJ by doing Rent Vs own calculation and the calculator gave comparison based on deductions.. So I suspect 10-20 % of those guys cant afford mortgage anymore in NJ..

  52. leftwing says:

    “This is before everyone filing their 2018 taxes. Once they take hit on SALT, the delinquencies will raise fast… Wait for April 2019…”

    Not sure on delinquencies but may very well see price impacts then…closest analogy for me is the crypto sell-off starting early March….beginning of a nearly 50% decline that bottomed right before taxes due. 100% attributable to crypto holders (or hodlers in this case) understanding their pending tax bills. I was trading this…..

    As a cultural aside it was actually kind of interesting watching all the angst unfold among this group….their demographic and politics are pretty definable….yet they were howling like wet cats when they realized that they were paying taxes on massive gains from rollover trades they did in December that in March were underwater. Opinion ranged that taxes on these gains at all are immoral to comments on the useless complexities of the nuances of wash trades…

    Oh, the luxury of being able to be idealistic when one is young and broke…what’s the old joke? A conservative is a liberal whose been mugged and a liberal is a conservative whose been arrested? LOL, a fiscal conservative is a hipster who rolled over his $19k of bitcoin gains into a new currency in December and the new currency is down by half at tax time….

  53. Bystander says:

    Juice,

    Yet I am five weeks into job search and following every lead, contacting former colleagues on linkedin and trolling Indeed everyday (I know not best but my buddy did find a decent job that way). I have updated resumes on dice, efinancial careers, indeed and other job sites. I had one phone screen due to my brothers reference. Dozens of calls, dozens of applications and almost zero contacts for any legit paying jobs. Not expecting earth to move but my qualifications should hopefully gain some attention. Today I am going back to 6 recruiters who have not responded in two weeks. Not random ones but ones with personal relationships with some higher ups from my past. Labor shortage..bullsh$t.

  54. 1987 Condo says:

    Tuition Bubble update: My daughter attends a UNC school. Most of the UNC network guaranteed the tuition rate to RTS for all 4 years for in state student. But they raised each year for new. This year they have had a 0$ increase in tuition for all new students, including OOS. My total costs are up about $80 due to rise in some fees.

  55. Pumpkinator says:

    It’s called “pumpkin lightning”
    “I actually hope my breaker starts a fire in my multi when no one is there”

    Don’t even think about it. This could put you in the slammer with a strapping young buck ready to give you a colonoscopy.

  56. The Original NJ ExPat says:

    I’m usually pretty lucky, I need this to pop in two years. I’m surprised it’s gone this long. Luckily I’ll be drawing a very low salary from the LLC I’m setting up for my wife. There’s a lot of money and resources available for minority and women owned businesses in Massachusetts. I might not even have to pay an accountant.

    Tuition Bubble update: My daughter attends a UNC school. Most of the UNC network guaranteed the tuition rate to RTS for all 4 years for in state student. But they raised each year for new. This year they have had a 0$ increase in tuition for all new students, including OOS. My total costs are up about $80 due to rise in some fees.

  57. Juice Box says:

    Bystander – every day I see a new guy or gal who dresses like they just arrived at JFK from one of daily non-stop flights from New Delhi, Mumbai, or Chennai.

    There is no labor shortage in IT, not when you can get them by the dozen….

  58. The Original NJ ExPat says:

    This is the kind of weather when I should be trying to sell my completely restored ’72 El Camino so I can buy a 911. The EC has no A/C so a cool, sunny day would probably work best.

  59. Juice Box says:

    The selling price of a 72 El Camino does not = the buying price of any late model 9/11

    Maybe this one?

    https://www.youtube.com/watch?v=9g9C5CQDFgk

  60. The Original NJ ExPat says:

    I think they’ve taken over recruiting too. More than 50% of the headhunters that call me I can barely understand. BTW, when someone asks your rate, always $200 per hour. After they get over the shock of what you just said it makes $130 seem reasonable.

    Bystander – every day I see a new guy or gal who dresses like they just arrived at JFK from one of daily non-stop flights from New Delhi, Mumbai, or Chennai.

    There is no labor shortage in IT, not when you can get them by the dozen….

  61. The Original NJ ExPat says:

    I don’t need a late model, one of the fried egg early water-cooled ones is fine with me.

    My EC has some value, of course I spent way more than it was worth restoring it in 1998, now I could probably get the $35K I spent back. Numbers-matching, rare factory two tone, metallic gold flake and white. There’s a reason you rarely see restored cars in white. The bodywork has to be perfect because you’ll see every flaw. I was paying some guy’s full-time salary from February to October that year. Every week I’d get a call, “Send another $2,000.” The car I restored mechanically for $8K, I spent $28K in 1998 dollars on the body work.

    The selling price of a 72 El Camino does not = the buying price of any late model 9/11

  62. The Original NJ ExPat says:

    When the car was all done in 1998 it was worth about $15K. Made me sick.

  63. Juice Box says:

    I will combine these posts with an anecdotal story.
    “I actually hope my breaker starts a fire in my multi when no one is there”
    “Water damage would be just as bad as the fire damage”

    Way back when I lived in Hell’s Kitchen had a nice place on the corner of 8th avenue. It was a walk up because the elevator was broken. We regularly had a passed out junkie sleeping it off on the front steps.

    One Thanksgiving holiday when nearly everyone was out of town the building went up in a blaze. I did not know until I saw it on the 10 o’clock news. Seems there was a fire in the elevator shaft, so the NYFD poured in water from the top of the building down. Every apartment was destroyed. The plaster walls and ceilings all fell in, the building was condemned and that was it. The landlord quickly relocated all tenants to other apartments at the same rent-controlled rate (out of kindness I am told). I ended up in the West Village, a truly awesome upgrade(It was the Friend’s TV show decade)! No complaints and the building quickly sold to a developer (not Trump) where now stands a high rise residential mixed-use building. Lesson is fire bad, water means total loss…

  64. Bystander says:

    Ex/Juice,

    That is why I said legit paying which excludes basically any Indian recruiter. I sometimes ask about rate just to entertain myself. I should now answer that they should call the pay phone at JFK during peak Chennai arrival times. Whoever answers, offer them that rate. The rest of us have med costs, a mortgage and family to feed. It would be funny if not true. We had Indian awareness day at my IB. Are you f-ing kidding me? The business is in the US and we have to learn about their problems and cultural differences to interact with them better? My prediction is becoming truer everyday. Being Indian and speaking Hindi will be a requirement for any job outside FO. Banks will conclude that inefficiencies with cultural divide can be reduced by cutting out the English speaking American who can’t understand a word many of them are saying.

  65. grim says:

    I’m glad I forgot how to code.

  66. The Great Pumpkin says:

    Bingo! IT had it good for a long time (better than everyone else) from 90’s to the 2008 crash. The ying and the yang, overtime balance has now started swinging the other way.

    During 90’s, this field was getting paid big money for doing basic sh!t, because most people were out of the loop when it came to tech. IT guys made off like bandits.

    Juice Box says:
    May 10, 2018 at 1:17 pm
    Bystander – every day I see a new guy or gal who dresses like they just arrived at JFK from one of daily non-stop flights from New Delhi, Mumbai, or Chennai.

    There is no labor shortage in IT, not when you can get them by the dozen….

  67. nwnj says:

    Vote for trump.

  68. The Original NJ ExPat says:

    Pumps – weren’t you a child in the 90’s? I know you “finished” school at a young age.

    Bingo! IT had it good for a long time (better than everyone else) from 90’s to the 2008 crash. The ying and the yang, overtime balance has now started swinging the other way.

  69. NJDepartment says:

    I came from Indian in 2000… Things were lot better then.. it felt like real America.
    it doesn’t any more.. The democrats messed it up..

  70. NJDepartment says:

    Pump, it is still better in IT though.. No idea who is driving SFO prices crazy. if the house prices doubled since 2013, what the heck happened??. Doesn’t mean the job market almost doubled.. So what cookin

  71. Fast Eddie says:

    I think the snowflakes have totally melted.

  72. Bystander says:

    Blumpkin has the first part correct. If you knew what Microsoft Access was in 1996, they would write a blank check. You were performing magic. You are wrong on end timing. It was a brief period from 1996 to 2001 after dot com crash. Once other people’s money dried up, companies did a major shift and invested heavy on CIOs who could sift through the bs and realized you could outsource it. Call centers were the first to go. That was technology making it possible. For 15 years, it has been a struggle in IT since they decided it all could go – IT,MO,BO.

  73. Bystander says:

    Wow, actually left out the predecessor to the crash. The mother of all BS and creator of untold tech wealth – Y2K. Once airplanes did not fall on CEOs heads, the jig was up for IT. I never road that wave. Too young and stupid.

  74. The Original NJ ExPat says:

    I was the Director of Application Systems at a startup (that actually still exists today, though it was bought out) and I was handing out those big salaries. I had guys bringing their existing offer letters to interviews.

  75. Libturd says:

    Joyce,

    How much are you traveling? Sweetest deal I’ve ever scene if not going for 1st class and you want lounge access.

    http://www.mymoneyblog.com/business-platinum-card-american-express-review.html

  76. chicagofinance says:

    Fast Eddie says:
    May 10, 2018 at 4:14 pm
    I think the snowflakes have totally melted.
    https://nypost.com/2018/05/10/cornell-student-strips-during-thesis-presentation-to-protest-professor/

  77. Californicator says:

    Only fruitcakes live in Ithaca

  78. Fabius Maximus says:

    “the jig was up for IT. I never road that wave. Too young and stupid.”

    I watched a lot of people lose a lot of money. I had a friend ride CMGI all the way to the basement (on Margin).

  79. Californicator says:

    FL … yeah figures.

    California ‘s Agri-machine keeps going strong.

  80. The Great Pumpkin says:

    Bystander,

    Article was written for you. Good read!

    Njstatedepartment,

    When truck drivers are getting 150,000, that’s how a housing market doubles in places like Texas. That’s why I would stay far away from Texas housing market, with combination of limitless land and unsustainable wages, that state getting hit hard in next recession. If wages do sustain, that state will make nj look cheap.

    https://www.bloomberg.com/news/articles/2018-05-11/no-the-u-s-economy-isn-t-overheating

  81. No One says:

    Chifi,
    That’s the child of a gender and sexuality professor. Now she will be the object of many male gazes. She must have been so excited to grasp the trophy of public victimhood.

  82. Hold my beer says:

    Pumps

    The drivers bein paid 150k a year are working in the Permian basin and hauling crude oil. That is the far west park of Texas along the New Mexico border. Very isolated area. Less demand to move there than a highway in Wayne.

  83. chicagofinance says:

    I just can’t get over the idea that no variance of opinion is tolerated. “I think it. I choose it. So therefore I will not be questioned….. or else temper tantrum, but with adult tools…..” I hope she remains unemployed for many years.

  84. Hold my beer says:

    Don’t tell pumps but my local middle school is ranked in the top 5% academically of middle schools in the nation. And it has a significant minority student population.

  85. chicagofinance says:

    It was a FEMALE professor too……

  86. Hold my beer says:

    Chifi,

    I remember in my state college people doing presentations would actually wear at least business casual – slacks and either a polo shirt or long sleeve dress shirt or a dress, not a mini skirt. Some even wore suits. Since class presentations were viewed as practice for job interviews and real world presentations.

  87. The Great Pumpkin says:

    Those wages are impacting your state’s housing market whether you realize it or not.

    Hold my beer says:
    May 11, 2018 at 8:03 am
    Pumps

    The drivers bein paid 150k a year are working in the Permian basin and hauling crude oil. That is the far west park of Texas along the New Mexico border. Very isolated area. Less demand to move there than a highway in Wayne.

  88. chicagofinance says:

    The professor is absolutely right too. She was a woman that was showing off a lot of skin. Guys are pigs. Especially 22 year olds. She needs to SERIOUSLY grow up. The lack of maturity is stunning.

    Hold my beer says:
    May 11, 2018 at 8:11 am
    Chifi,

    I remember in my state college people doing presentations would actually wear at least business casual – slacks and either a polo shirt or long sleeve dress shirt or a dress, not a mini skirt. Some even wore suits. Since class presentations were viewed as practice for job interviews and real world presentations.

  89. The Great Pumpkin says:

    So you have good schools, huge population growth, lots of business moving in, and high salaries…..you are joining the ranks of Jersey, Cali, and Ny. You just don’t realize it yet.

    Hold my beer says:
    May 11, 2018 at 8:06 am
    Don’t tell pumps but my local middle school is ranked in the top 5% academically of middle schools in the nation. And it has a significant minority student population.

  90. D-FENS says:

    Why do Democrats like to punch girls?

    Fabius Maximus says:
    May 11, 2018 at 12:30 am
    Scroll the comments

    https://twitter.com/ALT_uscis/status/994678900788727809

  91. Hold my beer says:

    Pumps

    Texas has no state income tax.

    A 1,700 sq ft 3 bd, 2 bath with 6k in taxes is 250k in my area. Hardly NJ or Cali

    My district easily superior to most blue ribbon districts in jersey.

    And we don’t have to live on a highway.

  92. The Great Pumpkin says:

    Don’t have an income tax yet.

    Where will the money come from to support all this growth? How many new schools are you building? How many new roads? How many new employees must be hired to service this growth in population?

  93. D-FENS says:

    So, when does the story break that shows that half of the CA state legislature stands to profit handsomely after the solar panel law?

    The folks that lobbied on behalf of the solar companies really outdid themselves on that one.

  94. The Great Pumpkin says:

    On top of expansion costs, you also have to maintain your current rapidly expanding infrastructure costs. Remember, Texas temperature changes are brutal on infrastructure. Never mind all the fire ants messing sh!t up.

    Ever play sim city? Texas was in the easy part of expansion, their day is quickly coming or has already arrived, in which you will deal with massive problems just like Cali, ny, and jersey. No more easy road. That ship has sailed.

  95. Hold my beer says:

    Pumps

    I think all that debris leaching out of your 100 year old water mains is impacting your analyzing skills.

  96. 3b says:

    Hold pumps is explaining to you just how wrong you are and all of the things you are missing He is basically telling you that Texas is on the road to becoming a high taxed shite hole like NJ. Do you honestly expect him to believe that y all who live in Texas could possibly avoid the mistakes NJ has made?

  97. Hold my beer says:

    3b

    Texas’s constitution has severe restrictions that make it virtually impossible for a state income tax to ever be passed.

    Pumps

    Almost All of my kids teachers live in the district, unlike blue ribbon towns in jersey.

  98. 3b says:

    Hold but what about the fire ants? Can you outlaw those? It just can’t be that Texas could avoid NJ mistakes. Pumps will only be happy If Texas falls apart like NJ.

  99. The Great Pumpkin says:

    Fine, believe what you want to believe.

    Everything is great because you have a constitution protecting you from income tax. Just wonder how they are going to pay the bills for a Texas society that has significant rising costs. How much did your home go up in the past 5 years? Nothing to worry about, right? I said right?

  100. Libturd questioning the gender of Hillary's Cankle fluid. says:

    Troll!

  101. The Great Pumpkin says:

    3b,

    You have issues. I’m simply pointing out how states become high cost/high tax states. Texas is on that path, whether you realize it or not. I’m simply pointing out what your mind is unable to see or understand.

  102. No One says:

    States become high cost states after people start electing politicians who promise govt will take over caring for all of their needs, and then does so bureaucratically and inefficiently because market incentives no longer steer resouces.

  103. Libturd questioning the gender of Hillary's Cankle fluid. says:

    Well said No One!

  104. Libturd questioning the gender of Hillary's Cankle fluid. says:

    3b,

    Your mind is unable to see or understand.

    The Lord has spoken.

  105. Trick says:

    They just listed the remodeled for foreclosure near me for $435. Looks like the rushed it, pics still have all the stickers on the front door.

  106. The Great Pumpkin says:

    How many more families will be moving to Texas this year alone?

    “”Property values, and the estimates of local tax collections on which they are based, shall be increased by 7.04 percent for tax year 2017 and by 6.77 percent for tax year 2018.”

    So, in other words, the Texas State Legislature is depending on appraisal boards to raise home values and increase your property taxes so they can afford their state budget. Does all that extra money you could pay in property taxes mean that your local schools will have 14% percent more funding? Not necessarily. It just means local school boards may be forced to increase school taxes to maintain their current funding levels.”

  107. Fast Eddie says:

    You guys are being baited daily… why do you respond?

  108. NJDepartment says:
  109. Hold my beer says:

    Pumps

    Values have been rising at a faster rate.

    Texas sales tax is 6.25 and the municipality can add an additional 2%.

    How long before NJ pension funds implode or there are new taxes to fund it?

  110. The Original NJ ExPat says:

    Pumps, you are indeed simple. That’s where the lack of a formal education severely fails your efforts. Simple thoughts appear in your head and, having no actual facts, data, or analytical abilities, you simply take your thoughts as gospel. To quote you, “I’m simply pointing out what your mind is unable to see or understand.”

    3b,

    You have issues. I’m simply pointing out how states become high cost/high tax states. Texas is on that path, whether you realize it or not. I’m simply pointing out what your mind is unable to see or understand.

  111. nwnj says:

    So apparently we are going to find out soon that bamas fbi had a plant in the trump campaign well before the bogus dossier and every other flimsry justification for why they were spying on him. The fbi has their back to the wall and has been fighting tooth and nail to block access to this information. The depth of this conspiracy is mind boggling. Water gate was child’s play.

  112. The Great Pumpkin says:

    “Woman discovers her dog that never barks or eats dog food is actually a fox” – http://people.com/pets/woman-discovers-her-dog-is-fox/

  113. D-FENS says:

    Wetzel’s Pretzels CEO changes tune on $15 minimum wage, says it’s now hurting his workers

    https://www.washingtonexaminer.com/policy/economy/wetzels-pretzels-ceo-changes-tune-on-15-minimum-wage-says-its-now-hurting-his-workers

    He said that as the wages are being forced up even for the entry level-positions, that is having the effect of pushing up other wages for more experienced employees, squeezing profit margins. That is pushing the fast food industry toward automation.

    “I was very bullish on the minimum wage increase. It was working really well for us. It was working okay for the fast food industry but there is no question you are going to have to see a reduction in the number of restaurants that are out there. You are going to see a reduction in service. And you are going to see more people going to technology to reduce labor costs,” Phelps said.

  114. The Great Pumpkin says:

    Hold,

    How do they pay for the budget when Texas homes stop appreciating? Going to raise your taxes fast and hard with all those kids coming into your state. I believe Texas is considered the youngest state in the nation with all those kids coming into their system on a daily basis.

    Hold my beer says:
    May 11, 2018 at 10:58 am
    Pumps

    Values have been rising at a faster rate.

    Texas sales tax is 6.25 and the municipality can add an additional 2%.

    How long before NJ pension funds implode or there are new taxes to fund it?

  115. Hold my beer says:

    Pumps,

    Don’t worry. Shouldn’t be a problem since Texas no longer has to subsidize your house

  116. The Great Pumpkin says:

    Everything will be fine while Texas grows, judgement day will come when the population stops growing and Texas becomes a mature economy like Cali or Ny where it’s extremely difficult to grow the economy as the economy is established and not really expanding at a rapid pace. Since you are no longer expanding at a rapid pace, you don’t have the tax revenue expanding at such a rapid pace.

    You will also get to the horrible situation where your economy has stopped growing at such a fast pace, and the people keep coming. So you will eventually get to a point where people are still coming, expecting to get jobs, but the state is no longer creating them in abundance. Then you will be just like Cali and other high cost/high tax states. It’s inevitable and it’s coming fast.

  117. Hold my beer says:

    Lil’ Wayne is cranky today

  118. The Original NJ ExPat says:

    RE: Wetzel’s Pretzels. Common Pumps types just have zero grasp on retail margins and how tight they are. Case in point: I read a story about a CFO at an olive company who just couldn’t get the company profitable. Finally a light bulb went on that solved everything. Put one less olive in each jar. The company went profitable and he became the next CEO.

  119. The Original NJ ExPat says:

    HBM – LOL!

    Lil’ Wayne and his Highway House of Pain.

  120. The Original NJ ExPat says:

    Everything will be fine while Texas grows(My simple mind just told me so), judgement day will come when the population stops growing(My simple mind just told me so) and Texas becomes a mature economy like Cali or Ny(My simple mind just told me so) where it’s extremely difficult to grow the economy as the economy is established and not really expanding at a rapid pace(My simple mind just told me so). Since you are no longer expanding at a rapid pace, you don’t have the tax revenue expanding at such a rapid pace(My simple mind just told me so).

    You will also get to the horrible situation where your economy has stopped growing at such a fast pace, and the people keep coming. So you will eventually get to a point where people are still coming, expecting to get jobs, but the state is no longer creating them in abundance. Then you will be just like Cali and other high cost/high tax states. It’s inevitable and it’s coming fast.

  121. The Original NJ ExPat says:

    You will also get to the horrible situation where your economy has stopped growing at such a fast pace(My simple mind just told me so), and the people keep coming(My simple mind just told me so). So you will eventually get to a point where people are still coming(My simple mind just told me so), expecting to get jobs(My simple mind just told me so), but the state is no longer creating them in abundance(My simple mind just told me so). Then you will be just like Cali and other high cost/high tax states(My simple mind just told me so). It’s inevitable and it’s coming fast(My simple mind just told me so). This is part of my sermon on the Highway. It is gospel.

  122. The Original NJ ExPat says:

    I can see Pumps having his own quasi-Catholic congregation with call and response, and the congregation will always respond, “My simple mind just told me so.”

  123. The Great Pumpkin says:

    If you say so Expat. Isn’t this exactly what you said to me five years ago when I called for wage inflation to get hot in 2017 or 2018? Isn’t this exactly what you said to me when I said the housing market will start to pick up by 2017 or 2018?

    Exactly!

  124. The Original NJ ExPat says:

    This is the word of my mind. Thanks be to me.

  125. The Original NJ ExPat says:

    BTW, still waiting to see you “cycles and demographics” documents. Did they just exist in your mind too? Along with your three degrees?

    Hahahahahahahahahahahahahaahahaha

  126. The Original NJ ExPat says:

    Pumps, running with papers in hand to tell his wife, “Look, look! My research is now proven. It says right here we should pay the highest price for the house with the highest taxes on the road with the highest speed limit!”

  127. The Great Pumpkin says:
  128. The Great Pumpkin says:

    “Finally, as noted above, Texas invests less than other states in its infrastructure and in educating its workforce. This, too, could cause problems for the Texas economy in the future.

    Conclusion

    Other states should think twice before they make major changes in their tax and budget policies in an effort to generate the growth that Texas has seen in recent years. This growth is a result of the interaction of a host of factors that cannot be replicated by other states, and perhaps should not be replicated even if they can be. In addition, there are many reasons to believe that Texas’ economy will not continue to shine so brightly relative to other states.”

  129. No One says:

    A progressive big government policy institute doesn’t like Texas’s approach. Punkinhead considers this proof of his rightness. Clearly punkin’s time spent on SimCity has well prepared him to be everyone’s policy dictator.

  130. Bystander says:

    Blumpkin,

    Here is my response – that article is garbage, your thoughts are garbage. Yeah, $150k truck drivers is sustainable. Just like the $200k loan originator/bartender circa 2006.

  131. Bystander says:

    Grim, in mod.

  132. The Great Pumpkin says:

    Always blame the source instead of attacking their argument. I get it, deflect.

  133. Libturd questioning the gender of Hillary's Cankle fluid. says:

    Stop feeding the troll.

  134. Libturd questioning the gender of Hillary's Cankle fluid. says:

    “Elected officials promised workers solid pensions years ago, on the basis of wishful thinking rather than realistic expectations.”

    Sound familiar? I wonder which politicians their union endorsed?

  135. The Great Pumpkin says:

    Alright, I’ll stop with the Texas debate. You guys only want an echo chamber. I get it.

    Texas is the model we should all strive for. All you need is massive Mexican immigration and cheap land, you can be like them too. Cut all services to the poor because you know they are just Mexicans…..only there for cheap labor to service the rich. I can’t wait till all those Mexicans starting voting in Texas.

  136. nwnj says:

    Must be a low day at the shop today based on the number of people poking the monkey with a stick.

  137. 3b says:

    Nw we are all pumped out!

  138. D-FENS says:

    Cool. Murphy making national headlines.

    https://www.youtube.com/watch?v=7izggkgIrvk

    NJ Governor on Funding Illegals For College: This Is America and We Need to Include Everybody

  139. D-FENS says:

    fuk 480,000 illegals in NJ? Holy….

  140. The Original NJ ExPat says:

    I think this statement is insulting to actual monkeys.

    Must be a low day at the shop today based on the number of people poking the monkey with a stick.

  141. Juice Box says:

    480,000 that sounds low

  142. Hold my beer says:

    6.7% of Texas population is illegal. 8.6% of NJ.

  143. chicagofinance says:

    The reason they have restricted bathrooms in urban Starbucks is due to the amount of syringes, glassware and vials they have to clean-up. It is considered a workplace hazard for employees.

    I guess they are adding Narcan as a new menu item too.

    Fast Eddie says:
    May 11, 2018 at 12:17 pm
    How to ruin a business:
    https://www.yahoo.com/finance/news/starbucks-changes-bathroom-policy-following-114638349.html

  144. The Original NJ ExPat says:

    Check your privilege, chifi.

  145. The Original NJ ExPat says:

    ^^^Wasn’t that the line the cashier gave you at a Starbucks a few years ago?

  146. The Great Pumpkin says:

    Opinion: Wisdom of a Non-Idiot Billionaire – The Wall Street Journal
    https://apple.news/A3zru6CQhTkyr98B0F5OYAg

  147. Yo! says:

    Beautiful day in NJ suburbs. Flowers blooming, grass green like Augusta National, tomorrow the biggest open house day in a decade, prices in right places +5% to 10% over 2017. Enjoy the weekend.

Comments are closed.