Dylan, Chelsea, and Austin buy homes

From the Huffington Post:

Millennial Buyers Face Tough Housing Market

Yvonne Jimenez Smith and her husband, Brandon Smith, spoke in whispers recently as they visited a white stucco house they planned to buy on a leafy street in San Jose, California.

Following six months of aggressive hunting, they were on their way to a small suburban home of their own after spending most of their 20s in noisy city centers.

“It was so quiet, it just seemed weird to speak out loud,” Jimenez Smith said. “We lived over a freeway entrance in San Francisco. It was always loud and we were always surrounded by people. It’s a big change.”

Like the couple from San Francisco, who are 28 and 30, other millennials are starting to follow in the footsteps of earlier generations and buy suburban houses after fueling a boom in city apartments. The share of 25- to 35-year-olds who own homes, which had been falling since 2005 as renting grew in popularity, ticked up slightly in 2017, according to a Stateline analysis of census microdata from IPUMS-Current Population Survey.

Last year 32.3 percent of young people were homeowners, a slight increase from 2016 when it was 32.2 percent.

That’s still well below the 45 percent in 2005 and the peak of 55 percent in 1980.

Millennials are hitting the market at a difficult time, though, with rising prices and few houses to buy as the housing industry has shifted to building more downtown rentals. Some people seeking to buy houses have been discouraged and have postponed the step, just as many have had to put off moving out of parents’ houses, forming couples and having children as they tried to build careers delayed by the recession.

Between 2011 and 2017, home prices grew 48 percent while income for all age groups rose only 15 percent, according to National Association of Realtors statistics.

Thirty-two is the median age for first-time homebuyers, according to a survey by the Realtors Association. That means many first-time buyers are squarely in the millennial generation, the oldest of whom reached their mid-30s in 2017.

There was an increase in new homebuyers named Dylan, Chelsea and Austin, according to ATTOM Data Solutions, which compiles real estate data such as deeds that don’t include buyers’ age. Such names were popular baby names in the early ’90s.

The apparent uptick in ownership in 2017, the first since 2005, is so tiny that it’s hard to say if the trend toward less buying and more renting is really over, said Chris Porter, chief demographer for California-based John Burns Real Estate Consulting.

Ownership is still “considerably lower than 10 years ago,” Porter said. “We may need another year or two of data to understand whether this is truly a reversal.”

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

125 Responses to Dylan, Chelsea, and Austin buy homes

  1. grim says:

    I think Ex is fibbing about the old flip phone. Perhaps a new 4g flip phone, which is basically just a smartphone with a different format, but an old flip phone, no way.

    Most of the dumb flip phones were 2G and the smart phones were 3G, and those networks are non-existent today. When AT&T shut down it’s GSM network last January, it was the death knell for old phones.

    I stopped using my Punkt MP01 dumb phone because it was no longer possible to get any signal across 80% of the Northeast, and had to swap the SIM into an old iPhone I had, that was 4G – and poof – I could make calls again. Same deal with my Nokia dumb phone, it doesn’t work anywhere anymore. Not that either of these were old, but they were using the GSM/2G technology that was common for non-smartphones. 3G support is rapidly declining as well, as carriers ignore these old networks in favor of 4G/LTE.

    The Punkt MP01 was the best mobile phone ever made, the Nokia 515 the second best mobile phone ever made. Sad that neither of these work anymore.

    No fear though, Punkt just announced a new 4G compatible dumb phone – which might get a few more years of dumb-service for those who want to disconnect, if even for the weekend. That luxury will cost you big money though. The ring tones? Only bird songs, from birds native to Scandinavia. Yeah, you heard that right, the phone won’t or can’t beep or ring, it only plays bird songs. Fucking Brilliant.

    https://www.punkt.ch/en/mp02-4g-mobile-phone/

    But now it supports tethering for internet access? Not sure I can get behind that.

  2. grim says:

    Now that’s interesting, from Bloomberg:

    Startups Front Cash to Homebuyers in Bidding Wars

    The most active real estate broker in the Pacific Northwest this year is a former Microsoft Corp. program manager who used to work on Bing. Tushar Garg isn’t the typical salesman walking would-be buyers through carefully staged houses. He’s co-founder of FlyHomes Inc., a three-year-old real estate brokerage in Seattle that promises to turn its clients into cash buyers.

    The idea is relatively simple: A house hunter hires FlyHomes as her broker. When she’s ready to bid on a home, she gives the startup a deposit of 5 percent of the bid price. FlyHomes then makes an all-cash offer for the property, using its line of credit from a bank. After the deal is done, it sells the house to the homebuyer once she’s gotten a mortgage. In return, the company earns the typical 3 percent commission from the original seller.

  3. yome says:

    Moderate House Republicans suspected they were being played.

    For weeks they’d been negotiating with Freedom Caucus Chairman Mark Meadows in a quest to clinch an immigration deal that could pass the House. But whenever the two sides got close, they said, immigration hard-liners would ask for more. Then, on the morning of a scheduled June 21 vote, moderates got their hands on an explosive missive from the Freedom Caucus’ top staffer: an email warning group members that voters would punish them for backing any bill with a whiff of “amnesty.”

    “This is bull—-,” Rep. Tom MacArthur scolded Meadows at a meeting in Speaker Paul Ryan’s office that day. The New Jersey Republican, who had worked closely with Meadows in the past and wanted a deal, demanded to know why Meadows appeared to be backing away from a bill he helped craft.

    Rep. Jeff Denham (R-Calif.), a leader of the pro-immigration reform centrists, read the Freedom Caucus email aloud, as Meadows insisted he had no knowledge of it. Rep. John Katko (R-N.Y.) said he’d been warned not to trust the Freedom Caucus, seething that he’d never make that mistake again.

    And so it was that nearly two months of intense intraparty negotiations broke down. Their “compromise” bill died Wednesday afternoon, 121 to 301 — the latest in a string of high-profile failures to overhaul the nation’s immigration system and an embarrassment to House GOP leaders and President Donald Trump. While several top conservatives had been in the room helping write the bill, every single one of them voted against it.

    This account is based on interviews with more than 20 lawmakers and staffers who were intimately involved in negotiations over the past month-and-a-half. It paints a picture of immense distrust across the conference and showcases how immigration has become a third rail of Republican politics, immune to reform even under one-party rule.

    https://www.politico.com/story/2018/06/27/this-is-bull-inside-the-gops-immigration-meltdown-680106

  4. Hold my beer says:

    Grim

    Expat is an engineer. He built one out of parts he got from eBay and frys.

  5. Very Stable Genius says:

    @RVAwonk

    I mean really, what if this investigation ends up showing that Trump worked with a hostile foreign power to install him as president?
    Then what happens to the SCOTUS justices he illegitimately appointed?

  6. grim says:

    I’m going to end up selling my MP01 and Nokia 515 on eBay, they’ll probably ship out to Europe where there are still strong 2G networks. No doubt to geeky cord-cutters like myself, who can appreciate the technology and design elegance of these phones.

    But an old flip phone? They don’t work, and haven’t for at least a year.

    I’m patiently waiting for the Nokia 8110 4g – which is a retro homage to the original Nokia 8110 “banana phone” released in 1996.

    https://www.nokia.com/en_int/phones/nokia-8110-4g

  7. grim says:

    Millennials wouldn’t understand, but a true Gen-X geek appreciates Nokia’s throwback. For those who remember, this was the phone that was in The Matrix, when Keanu gets a package at work, and the phone rings.

    But yeah, the old flip phone, it’ doesn’t work.

  8. Very Stable Genius says:

    don’t know whats fliopone, but posting this on iPhone X

    grim says:
    June 28, 201

    But an old flip phone? They don’t work, and haven’t for at least a year.

  9. Not NJXpat says:

    The beauty of being a late baby boomer (1998=38yrs=late boomer) and being oblivious to the societal benefits that you got that no else behind you gets,

    The Original NJ ExPat says:
    June 27, 2018 at 8:44 pm
    Let me see, 1998

    Hot girlfriend, no kids
    Big house in Long Island
    Gardener that showed up twice a week paid from my $110/hour consulting gig.
    4 cars ’72 El Camino, ’77 Camaro, Chevy SUV, Mustang convertible
    Attended lots of Yankees games, including both rounds of playoffs and World Series.
    Dinners in NYC often, on the company.
    Summer Weekends on the South Shore or Newport
    Ski condo for four weeks that year.

  10. The Great Pumpkin says:

    Sounds like a bs. So you went from a house in Long Island with a Gardner to some condo less than 900 sq ft in Boston? Did you lose it all? Wtf happened?

    The Original NJ ExPat says:
    June 27, 2018 at 8:44 pm
    Let me see, 1998

    Hot girlfriend, no kids
    Big house in Long Island
    Gardener that showed up twice a week paid from my $110/hour consulting gig.
    4 cars ’72 El Camino, ’77 Camaro, Chevy SUV, Mustang convertible
    Attended lots of Yankees games, including both rounds of playoffs and World Series.
    Dinners in NYC often, on the company.
    Summer Weekends on the South Shore or Newport
    Ski condo for four weeks that year.

  11. dentssdunnigan says:

    Flyhomes is same principal as someone with 800 to 850 credit score making a no mortgage contingent bid ,being confident he’s have no problem securing one

  12. The Original NJ ExPat says:

    grim – Care to wager actually money? I’ve told the story before. I went from Treo to Blackberry to flip phone with no data and text messages blocked. My two kids have iPhones, my wife uses my old Treo 650 with no data. My wife and I text with no one. Actually, I will send about 1 text a month from my Verizon iPad and that will be to one or both of my daughters during school hours. I just checked my iPad and I didn’t send my first text message until November 2017 (other than the texts I had to send for work prior to 2008)

    I was talking to my wife about this the other night, I think it was just happenstance that I fell out of smartphones at just the right time, such that I may be the lone high tech guy that escaped the mass addiction.

    I think Ex is fibbing about the old flip phone.

  13. The Great Pumpkin says:

    I thought this was worth sharing. Guy has a point.

    “Every politician has come into office saying he/she will root out “waste, fraud, and abuse.” If it hasn’t been done already … should we consider that maybe it doesn’t exist? If the ultimate anti-pw governor, Christie, couldn’t find it….then you’ve really got to say it doesn’t exist. I think this whole argument regarding PWs being “overstaffed” or “inefficient” is hogwash.”

  14. The Great Pumpkin says:

    Ex went from owning at 38 to renting at 58. What happen brother? It’s so bad you have to use a flip phone. What happened?

  15. Very Stable Genius says:

    @notstevenwhite

    It really is remarkable how undemocratic American political institutions are.

    Republicans have only won the popular vote once since the 1988 presidential election and now they’ll control the Supreme Court for a generation

  16. The Original NJ ExPat says:

    I thought I told the story before, here it is. This was fall 2008 into Winter 2009, so that must be the year of my tiny, navy blue Samsung flip phone. It stays charged for about 5 days, btw.

    The Original NJ ExPat says:
    March 15, 2018 at 2:30 pm
    My guess is that there is a lot fewer bicycles being ridden these days. Like mowing the lawn or running a snowblower, cycling and texting don’t go together too well either.

    Actually, it was bicycling that made me give up smart phones. I used to commute year round by bicycle. When my employer stopped paying for my smart phone directly I took some time to decide what my next phone would be. One month turned into two, turned into three and I suddenly realized that I really enjoyed not being constantly interruptible. When I wasn’t on the bike I had my broadband connection at home or work. So I took my old Blackberry (that my employer let me keep) and bought just a voice plan. I pretty much just used it as a PDA. Then after a few years and batteries the Blackberry stopped working. Sprint had given me a free flip phone when I signed up for my contract and I just blew the dust off the box, pulled out the phone and had Sprint transfer the plan to that and that was probably 5 years ago. Haven’t missed the bulky smart phone since. I think receiving 25 text messages an hour really detracts from productive thought and action so now we’re growing kids who never really learned how to think in the first place.

  17. D-FENS says:

    I think I still have a Motorolla Star Tac in a drawer at home. Was dead nutz reliable phone.

  18. The Great Pumpkin says:

    Thought this was worth sharing too. Should spur some discussion on this board.

    “You ignore the history of it. This began 50-60 years ago. PWs made spit…….and the jobs were not desirable. Turnover was high, leading to high costs. In order to retain employees……pensions, benefits, longevity pay, etc were added to the equation as a means of making the jobs more attractive.
    And it has succeeded. As time wore on, the members recognized the value of good benefits and at various times paid to expand/keep them. For instance, in the early 90s, we gave up1/4% of a raise to secure eyeglass coverage. You’ll argue “1/4%” is nothing……but look at it compounded over the last 25 years and you will see that we more than paid for that benefit.
    In subsequent years we agreed to raises in co-pays and deductibles……costing us more and saving money for the employer.
    In 2011, Christie came along and enacted Chapter 78…..no bargaining, just made it a law. That took over $14k per year from my checkbook and put it back into the city’s checkbook. Is that not enough? You can argue that we have the “best healthcare”……and we most definitely have a high level of benefit…..which we pay handsomely for. To suggest that we accept a lower level of benefit, thereby increasing our out of pocket costs, is not reasonable. Again, we’ve paid to maintain these benefits. And to suggest that the “savings” be used to fund your portion of the pensions is also just entirely unreasonable. Again, the history.”

  19. The Original NJ ExPat says:

    BTW, my parents are exactly the same way, high tech, but no smart phones, they both carry tiny flip phones too. They both travel with iPads in keyboard cases too, my Dad has a Verizon or AT&T iPad but never bought a data plan for it, so they are truly divorced from the ‘net when they are between WiFi hotspots.

  20. grim says:

    Sorry, but when politicians like Murphy publicly support public sector unions, who will negotiate on behalf of the taxpayers? If both sides of the contract negotiations are on the same side, what reasonable check exists to abusing this relationship? It becomes a very ugly quid-pro-quo, where politicians trade votes and campaign contributions for benefits in an ugly spiral downwards.

    Consider also, that prior to the supreme court decision, public sector workers couldn’t even decide for themselves if they wanted to support this. Membership was mandatory, and fees were taken via payroll deduction.

    Sorry, the whole thing stinks.

  21. The Original NJ ExPat says:

    They were the best in the mid 90’s. I lusted after them before I had my first cell phone in 1998. My wife was saying that when I gave her her first cell phone in 1998 she was one of the only people in her office to have any kind of cell phone. She has had the same Sprint account since then and she’s never had a contract. $30 per month, including taxes and fees.

    I think I still have a Motorolla Star Tac in a drawer at home. Was dead nutz reliable phone.

  22. grim says:

    I pay $25 including taxes and fees for my T-Mobile voice plan, no contract.

  23. The Original NJ ExPat says:

    I remember my first smallish phone, it was a Nokia AT&T, and it had digital and analog. If I was skiing or somewhere without digital service, that baby got hot roaming in analog and would last less than a full day on a charge. In digital it lasted about 2 days.

    Does anybody remember when there were only analog cell phones? That’s when the Startac was really the shit.

  24. The Original NJ ExPat says:

    I pay $30 with data for one of my daughter’s phones from T-Mobile. Couldn’t get the deal for the second daughter. I pay $45 for hers, also T-Mobile. Both no contract. One of these days I will get smart phones for my wife and I and it will also be T-Mobile, they have a good age 55+ plan. My plan with Sprint is a rip-off, and I’ve had it since 2009, $45 for voice only. So all four of us have four different plans, two with T-Mobile, 2 with Sprint. It’s just coincidence that I have a $45 and a $30 plan on each provider. I think I have 1GB of data on my iPad for $20 too.

    I pay $25 including taxes and fees for my T-Mobile voice plan, no contract.

  25. The Original NJ ExPat says:

    and my iPad is Verizon, so we have T-Mobile, Sprint, and Verizon.

  26. grim says:

    Motorola Dynatac is the cell phone that everyone would know from the Analog Era – the Zach Morris or Gordon Gekko phone, by the early 1990s it was all digital with CMDA in the US and GSM in Europe.

  27. Blue Ribbon Teacher says:

    I have to see how this supreme Court ruling ends up filtering through the system. If I can, I will still support my local. Bit the Njea and county union can kiss my ass.

  28. Blue Ribbon Teacher says:

    And it I were at my last district, I would stop contributing to my local there.

  29. The Original NJ ExPat says:

    Back in the early days Sprint’s claim to fame was “no contract”. Every year, around Christmas shopping season, Spring came out with a better and/or cheaper plan. Either less money or more minutes. Since Sprint had no contract, if you were smart, you just called up and switched to the new best plan. That’s why my wife has never had a contract. My company in 2006 was all Sprint too. They paid for my phone, of course, but there was some number you could call to get a break if you had personal Sprint phones. My wife’s plan used to be $30 before taxes and fees. When I got it reduced by 10% it became $27 and that’s still what we pay today.

  30. grim says:

    I bet you Murphy has AG Grewal challenge the Supreme Court.

  31. The Great Pumpkin says:

    I think we can all acknowledge that the avg govt worker is not overpaid. For example, avg salary of teachers in this state is 66,000. That’s a professional position avg 66,000 in a high cost state. If you have to raise a family on that income, you are basically poor.

    If you want to use police and firemen to claim govt employees are overpaid, understand this is a select group that does not represent the majority of govt workers. One thing you have to say about cops and firemen, they have a very limited window to make money. Yes, they get forced into retirement early, which blows. You know how hard it is to find a job in your fifties or sixties when your only experience is being an enforcer of the law? It’s not as great as people think.

    Also, becoming a cop causes you to become brainwashed when you go through the academy. It changes you and the way you think. This leads to a very high divorce rate among cops because the psychological effect of the job ruins you. Cops can keep that money and early retirement, I want nothing to do with that job. It blows. Never mind the negative effects that come with dealing with bad people all day or seeing a mutilated body of a child in a car accident. No f’en thanks!

    I think people need to open their eyes, and stop being so short sighted when it comes to govt workers. These are human beings. Somehow, the conservatives have dehumanized govt workers and look at them as monsters. Why?

  32. grim says:

    Yes, they get forced into retirement early, which blows. You know how hard it is to find a job in your fifties or sixties when your only experience is being an enforcer of the law? It’s not as great as people think.

    You are smoking dope, I know cops collecting $80k a year pensions that have moved out of state and started their own businesses.

    One of which, is actually growing dope in Vermont, making a fortune.

    Another one moved to Arizona, where he is now a high ranking police officer. So he’s collecting his NJ pension, while employed as a police officer in another state. He lives in a house that would cost $3 million in NJ, and drives around on $50,000 motorcycles. Yeah, he also never took a sick day, in his entire career.

  33. The Great Pumpkin says:

    Better hope a student doesn’t accuse you of touching them in the wrong way. Good luck paying those legal fees if you opt out of the union.

    Blue Ribbon Teacher says:
    June 28, 2018 at 9:20 am
    I have to see how this supreme Court ruling ends up filtering through the system. If I can, I will still support my local. Bit the Njea and county union can kiss my ass.

  34. The Original NJ ExPat says:

    LOL. It wasn’t all digital, even at the turn of the century. BTW, I used to work with digital voice over CDMA, TDMA…in the early 1980’s. All military, of course.

    Motorola Dynatac is the cell phone that everyone would know from the Analog Era – the Zach Morris or Gordon Gekko phone, by the early 1990s it was all digital with CMDA in the US and GSM in Europe.

  35. Fast Eddie says:

    Republicans have only won the popular vote once since the 1988 presidential election and now they’ll control the Supreme Court for a generation

    Men vs. boys.

  36. grim says:

    Ginsberg will have the best medical care of anyone in the United States.

  37. The Great Pumpkin says:

    What about the ones unable to move out of state or can’t start a business. 80,000 blows in your fifties….those are prime earning years. Remember, no cola and no social security.

    Not for nothing, you gave examples of go getters. Starting a business from scratch in your fifties means you are a go getter. That’s a lot of risk at that point in life to start from scratch.

    grim says:
    June 28, 2018 at 9:28 am
    Yes, they get forced into retirement early, which blows. You know how hard it is to find a job in your fifties or sixties when your only experience is being an enforcer of the law? It’s not as great as people think.

    You are smoking dope, I know cops collecting $80k a year pensions that have moved out of state and started their own businesses.

    One of which, is actually growing dope in Vermont, making a fortune.

  38. grim says:

    Not for nothing, you gave examples of go getters. Starting a business from scratch in your fifties means you are a go getter. That’s a lot of risk at that point in life to start from scratch.

    You don’t know many cops, most of them have side businesses, which tend to yield strong support from the local business population. I know half a dozen that own landscaping companies, contracting companies, etc etc etc.

  39. The Great Pumpkin says:

    And if this pension goes broke…what are these cops going to do? They are in a very bad situation, but everyone thinks they have it made.

  40. The Great Pumpkin says:

    So they are not lazy public workers like people assume? They are contributing to society in many ways it seems.

    grim says:
    June 28, 2018 at 9:42 am
    Not for nothing, you gave examples of go getters. Starting a business from scratch in your fifties means you are a go getter. That’s a lot of risk at that point in life to start from scratch.

    You don’t know many cops, most of them have side businesses, which tend to yield strong support from the local business population. I know half a dozen that own landscaping companies, contracting companies, etc etc etc.

  41. The Original NJ ExPat says:

    Hillary won the popular vote by 6 million votes…if you just count California and New York.

    She lost the popular vote by 3 million votes in the other 48 states.

    Republicans have only won the popular vote once since the 1988 presidential election and now they’ll control the Supreme Court for a generation

  42. chicagofinance says:

    Bad use of scarce capital…… why not sell closing guarantees? Capital commitment much smaller…… 3% is way too little unless these guys have specialized access to bank loans…… their margins will be chewed to sh!t….. bottom line, you are making unqualified-for-cash-offer buyers into cash buyers.

    The arb is that mortgage contingency buyers should need to bid higher to compensate sellers for the uncertainty…….. I think that unless these guys bring some discount to the table, this thing is crap

    grim says:
    June 28, 2018 at 7:17 am
    Now that’s interesting, from Bloomberg:

    Startups Front Cash to Homebuyers in Bidding Wars

    The most active real estate broker in the Pacific Northwest this year is a former Microsoft Corp. program manager who used to work on Bing. Tushar Garg isn’t the typical salesman walking would-be buyers through carefully staged houses. He’s co-founder of FlyHomes Inc., a three-year-old real estate brokerage in Seattle that promises to turn its clients into cash buyers.

    The idea is relatively simple: A house hunter hires FlyHomes as her broker. When she’s ready to bid on a home, she gives the startup a deposit of 5 percent of the bid price. FlyHomes then makes an all-cash offer for the property, using its line of credit from a bank. After the deal is done, it sells the house to the homebuyer once she’s gotten a mortgage. In return, the company earns the typical 3 percent commission from the original seller.

  43. grim says:

    Please stop talking to me.

  44. grim says:

    I think that unless these guys bring some discount to the table, this thing is crap

    I bet they keep the 5% deposit if the buyer can’t close.

  45. Blue Ribbon Teacher says:

    pumpkin, your scare tactics don’t work on me. And the union lawyers are idiots.

  46. The Original NJ ExPat says:

    BTW, This is my exact phone, a 2008 Sprint Samsung M220. The specs say up to 7 days standby time. I’m still using the original battery too. Of course it just sat there, new in the box until I retired my Blackberry in 2013 or 2014.

    for grim: CDMA: 850/1900 MHz

    https://www.cellphones.ca/cell-phones/samsung-sph-m220/

  47. The Original NJ ExPat says:

    And my Blackberry was a 2006 model with the color screen and the thumb wheel. When they took the thumbwheel away, I was done with blackberries.

    In some ways, I liked my Treo 650 even better. I could edit Excel spreadsheets and Word Documents on it, instead of just view them, like on the Blackberry. Also, the Blackberry didn’t have a touch screen. The email abilities of the Blackberry was just unmatched though.

  48. The Original NJ ExPat says:

    ^^^not to mention security.

  49. grim says:

    for grim: CDMA: 850/1900 MHz

    You’ll lose widespread cellular availability by the end of next year when Verizon shuts down this network.

    Sprint will support to 2021, but coverage will likely be spotty.

    Sprint (CMDA) and Tmobile (GSM) are keeping longer support for these networks to capitalize on the customers using older alarm systems that use cellular remote monitoring. The big players ATT/Verizon – could care less as it’s not a big/growing revenue stream.

  50. The Great Pumpkin says:

    I know cops. Truth, none of them got in by knowing someone. They took the test, did well, and are now officers of the law.

    The people that think being an officer is the best job in the world…why didn’t you become one? Who was stopping you. My friends wanted to become cops and became cops.

    My friends have become state troopers (at least 5 with no connections at all). Some at the local level, and even have a friend that became a detective in wash dc with no connections whatsoever to that area(went to college in Connecticut and grew up north jersey).

  51. The Great Pumpkin says:

    Scare tactics? It’s the truth.

    Also, union lawyers idiots? I get it, you are so smart and awesome, who needs the union and their idiot lawyers.

    Blue Ribbon Teacher says:
    June 28, 2018 at 9:53 am
    pumpkin, your scare tactics don’t work on me. And the union lawyers are idiots.

  52. The Original NJ ExPat says:

    I got stopped out of CAT this morning. I’ve held that since early 2015.

  53. grim says:

    https://www.nj.com/opinion/index.ssf/2018/06/us_supreme_court_bolsters_defiant_nj_teachers_case_editorial.html

    It’s all the more reason why unions must be transparent about what they do with members’ dues. This brings us to some virulent observations from those NJEA teachers who didn’t want to be named:

    “I pay over $1,100 in combined dues to the NJEA and local affiliates … . Compared to other public unions such as the PBA and the FOP (police unions) this is exorbitant. The realization that the actual dues are being used for political activity is no surprise to me.”

    And, this: “… I just can say right now it’s not all about the members, it’s a power trip amongst the leadership. Those who speak up are quashed.”

  54. The Original NJ ExPat says:

    Cops have very high suicide rates. I guess it’s an impulse buy type of thing.

  55. The Original NJ ExPat says:

    The other great thing about the blackberry was just plugging it into your laptop for tethered internet access, which was unbelievable back before the modern networks. The blackberry also had GPS functionality with maps, standard.

    When I was on the road I used to mostly use a Verizon EVDO PCMCIA card for internet access, but if I traveled through a Verizon dead spot, I could just plug in my blackberry for access to the Sprint network. Nowadays I just use my Verizon 4G/LTE iPad as a hotspot.

  56. The Original NJ ExPat says:

    I’d love to see a whole bunch more s0ci@lists like Ocasio-Cortez arrive in Congress. If you filled seats with a whole bunch of young people with a ton of energy, I bet you’d see them figure out how to get things done instead of working so hard to get nothing done like the Dems that are there now.

  57. The Original NJ ExPat says:

    I mean really, what if this investigation ends up showing that Trump Hillary worked with a hostile foreign power to install Trump as president?

  58. grim says:

    Derek Jeter’s $15m castle in Greenwood Lake – right over the NJ/NY border.

    https://www.nj.com/entertainment/index.ssf/2018/06/derek_jeter_yankees_selling_ny_home.html

    $16,000 in property taxes, go drool.

  59. Fast Eddie says:

    I watched a live interview this morning ith Ocasio-Cortez. She is very enthusiastic and personable but her responses sounding like a 14 year old. They were like… you know… like… we need to work together… like… you know? I’m happy for her but all these wonderful ideas of free things for everyone needs to be paid for by someone. Like, you know?

  60. grim says:

    I’d love to see a whole bunch more s0ci@lists like Ocasio-Cortez arrive in Congress

    Not sure who she did more damage to, the Republicans or the Democrats.

    She knocked out one of the leading democratic legislators, which is a big negative for the party – and she still needs to win the election.

    Who knows what skeletons are in her closet, or how a relative newbie will perform in a general election. It’s not a zero probability that her primary win could mean the loss of the seat, which would be a major loss for the Democrats.

    The Republicans will spend millions in that district.

  61. The Original NJ ExPat says:

    I had a professor in college, who was a brilliant, rich, but also arrogant guy. He used to often say this: “What keeps most people from being successful is that they fail to choose their parents properly.”

    The beauty of being a late baby boomer (1998=38yrs=late boomer) and being oblivious to the societal benefits that you got that no else behind you gets,

  62. Fast Eddie says:

    Not sure who she did more damage to, the Republicans or the Democrats.

    It’s the same reason Trump got elected. All incumbents and old-timers will be removed. Blue states will elect those who promise free life styles and red states will elect those who will remove obstacles so that the entrepreneurs and innovators will produce and create thereby supplying the blue states with funds to pilfer in the guise of freedom and free things.

  63. The Original NJ ExPat says:

    Pumps – You’ve just never been in a pre-war building in a nice area of a major city. You hear 900 square feet and you think of sheet-rocked, thin walled, low ceiling, shag carpeted attic or basement apartments like the ones you probably rent out in Clifton. You just can’t get your mind around overlooking Chestnut Hill reservoir, high ceilings, hardwood floors throughout and a fireplace. You were born low budget, you are low budget, so your mind will always think low budget.

    Sounds like a bs. So you went from a house in Long Island with a Gardner to some condo less than 900 sq ft in Boston? Did you lose it all? Wtf happened?

  64. The Original NJ ExPat says:

    And we didn’t go from a house in Long Island with a Gardner to some condo less than 900 sq ft in Boston? We went from a house in Long Island to an ocean front townhouse in New Hampshire to a single family house in Cambridge to a different 2BR pre-war brick apartment with high ceilings (no fireplace in that one) to a 9th floor(in a 10 floor building) 1200 square foot modern apartment with balcony that went from master bedroom to living room overlooking a marina and swimming pool to our 900 square foot place in Boston, explicitly chosen because it was nice and walking distance from my wife’s job. I didn’t work for the next four years while our kids were small.

    You know what’s a decent clue that someone has money? They don’t talk about having money.

  65. 30 year realtor says:

    I have been working on a property to bid on in Mendham Boro this morning. What a disaster that high end market is! House is built in 1920, tired and needs updating, 5 acres, in very desirable estate neighborhood. Current owner is a real estate agent and has the house listed for around 1.5 M.

    In another similar neighborhood is a totally renovated flip for 1.069 M. Another comp in outstanding condition but less than an acre closed in 17 for 1.1.

    House is likely worth between 850 and 999. No way to tell. Tons of on market competition. Cannot buy this thing unless they are giving it away. For this product in the current market the depreciation continues…

  66. chicagofinance says:

    There is nothing special or innovative about her (although she is polished and has a good presence). She fits the current dynamic and it is a good story. Anyone exposed to DC will eventually be corrupted. It is why term limits would be beneficial. Right now she is the face of her district, but eventually they become more like DC, and resemble less their sending district. There is too much power, influence and hubris. Further, they problem is that in order to be effective in DC, you need to become a scumbag.

    The Original NJ ExPat says:
    June 28, 2018 at 10:40 am
    I’d love to see a whole bunch more s0ci@lists like Ocasio-Cortez arrive in Congress. If you filled seats with a whole bunch of young people with a ton of energy, I bet you’d see them figure out how to get things done instead of working so hard to get nothing done like the Dems that are there now.

  67. The Original NJ ExPat says:

    BTW, I was just about to sign a contract to buy an identical 1200 square foot apartment on the 10th floor of that same building when I unexpectedly lost my job. That place was very close to my job, but not my wife’s job in Boston. Instead of buying the place near my work for $220K, we instead decided to rent near my wife’s job. We were looking for a furnished place for about 6 months and then we would regroup and buy something else. While we were looking at furnished sublets I happened upon someone who was in the exact reverse situation of us. Her husband had just been transferred overseas to set up a medical lab and she was renting her place because she figured she didn’t have time to sell. We were renting because we figured we didn’t have time to buy (our lease was ending and the owners were coming back from Florida). I said to her, “Hey, instead of renting this place from you, why don’t I buy it from you?” Her family bought the place one year before for $250K, I bought it from her for $260K, no realtor. She was so overjoyed that she insisted on refinishing the hardwood floors and painting the whole place for us before we moved in. That’s what nice people do when they meet nice people.

  68. The Great Pumpkin says:

    Expat is the ultimate closet social!ist. Stays at home while his wife works and prob married her for the money. Didn’t realize you were a gold digger.

  69. The Original NJ ExPat says:

    What would it be worth if it was on a highway?

    House is likely worth between 850 and 999. No way to tell. Tons of on market competition. Cannot buy this thing unless they are giving it away. For this product in the current market the depreciation continues…

  70. The Original NJ ExPat says:

    30 year – I’m seeing the same depreciation in “nice towns”. That property with a build lot in Glen Rock I mentioned a few weeks ago, remember? It’s $1 million plus disaster now too. I’ve studied the property and it was built in 1955, gorgeous house, three car garage. It was intentionally set up to use the second lot as the backyard, and it’s still setup up that way. You could sell off the lot, and it is a gorgeous lot, in fact the only build lot available, and you could build a great house it. The problem is that the house that stands right now, a corner lot, is situated so that the entire build lot is the back yard. If you built a house on the build lot, now you’re left with a giant house, with a giant front and side yard…and zero back yard. Literally, almost zero. The taxes are $25K on the house and $15K on the build lot(approx). Obviously the town wants to force a house to be built there, but there’s no good way unless you tear down the existing house. The family that owns that property has owned it for 20 years, kids grown, retired, only just put the place on the market now. They’re trying it this way, but I don’t think it’s going to work.

    House and both lots – $1.6 million
    House and 1 lot – $1.1 million
    Build lot by itself -NOT FOR SALE

  71. The Original NJ ExPat says:

    They way I tell it, when I met my wife when she was 27, her parents thought I was a gold digger. Nine years later, when we were still living together, they were praying that I was a gold digger.

    Expat is the ultimate closet social!ist. Stays at home while his wife works and prob married her for the money. Didn’t realize you were a gold digger.

  72. The Original NJ ExPat says:

    BTW, my wife was just working for the health insurance, easy 9 to 5 gig. I would take the kids to her office and we would all have lunches together. Three years in she lost her job, so we took the next year off together, then I worked for two years after that. I’ll tell you what, when I went back to work in an office in 2008, I loved it! After 6 years at home it was great to mingle with adults again!

  73. The Original NJ ExPat says:

    then I worked for two years from home after that.

  74. The Original NJ ExPat says:

    Pumps – you’ll like this part of social!ist living too. In MA, if your salary isn’t too high, the state will pay something like 80% of your COBRA payments. My wife made just enough to get maximum unemployment benefits in 2004, but just low enough to get our COBRA payments covered. She then outdid me and ended up taking 8 years off, now she works at school two miles away, so when our kids are off, she’s off too, including the whole Summer.

  75. The Original NJ ExPat says:

    ^^^2005, not 2004

  76. Fast Eddie says:

    I haven’t had more than a week off since I was 18. Not complaining (maybe I am a little… lol) but it must be nice.

  77. The Original NJ ExPat says:

    Fast – I have a friend exactly like that. He grew up poor, went straight to the Army at 18, straight to college when he got out, hasn’t been unemployed a week ever since and he’s in his mid fifties now. I was lucky to get laid off from my first professional position 2.5 years in. I got 4 months severance as a big check and unemployment insurance on top of that. I was suddenly making more money than my buddies who were still working. I bought my Camaro, took it down to Florida to leave it my friends house so I’d have a car when I visited, took a three week vacation to Europe with two of my buddies, my girlfriend bought a ski condo while I was away, so I skiied 80 days that Winter. I quickly decided I like this time off from work deal, and that was in 1987! Since then I’ve taken off numerous times. When I was single I would usually work for 9 months, take 3 months off. In the mid 90’s I accidentally worked 2 full years in a row, so I took 13 months off after that. Starting in 2008 I started amazing myself that I could work year after year after year and not mind it so much anymore.

  78. The Original NJ ExPat says:

    When I was in my very early 30’s a friend of mine gave me one of the greatest compliments ever. He told me I was the one guy he knew who would never have a mid-life crisis, because I was doing all the things in my 20’s and 30’s (girls, cars, travel, etc.) that guys in their 50’s realized they missed out on and try to get back to.

  79. Yo! says:

    30 year, are homeowners in Mendham and similar areas aware their home values are declining at a time when home values are rising in 95% of the country?

  80. 30 year realtor says:

    Yo!,

    House will be sold at sheriff sale today! Agent is the owner. Asking 1.5 and the house is worth under 1 million. Certainly this owner is unaware.

  81. The Original NJ ExPat says:

    grim – I don’t know if you were implying earlier that the Motorola StarTAC was always digital, but it wasn’t. It started out as AMPS.

    Motorola applied for the StarTAC trademark name in September 1995. The StarTAC was unveiled in North America on January 3, 1996.[4] Then the smallest cell phone available, this AMPS phone was an immediate success. Successor TDMA and CDMA StarTACs were equally popular. GSM models were available in North America through Powertel, VoiceStream and other early GSM carriers.

    https://en.wikipedia.org/wiki/Motorola_StarTAC

  82. Fast Eddie says:

    ExPat,

    You want to know how bad I am? I’m looking for a two night stay in Hershey and I can’t even figure out which link or trip assistance thing to go to nor what is a considered a deal or not. I got my passport 5 years ago for the first time because the family wanted to go to the Bahamas with another family otherwise I wouldn’t even have gotten it then. F.ucking sad. lol!

  83. Fast Eddie says:

    I’ve been on a plane once in the last 38 years. Lol!

  84. The Original NJ ExPat says:

    Maybe what 30 year is seeing is my “call” coming true. If so, I was only off by 6 years.

    The Original NJ ExPat says:
    May 26, 2012 at 6:22 pm
    Nean – Take a close look at the really nice towns where you *can’t* afford to buy. These are the equity rich boomers and they are moving toward the exits right now. They were waiting and are now convinced no firmer market is coming so they are getting out of Dodge with a big piece of their retirement nest egg, which is their home equity. When they start trampling each other the fun will really begin. A top-down crush on prices. Before anyone else claims it, I’m dubbing it the prime crisis.

  85. Grim says:

    No, only that the Dynatac brick phone is the one that’s most recognizable analog.

  86. Ex-Essex says:

    12:00 my midlife crisis started ten years ago…..it’s been a blast. Sooooo end of month end of quarter we got a call from Subaru….they wanted our 16 Outback 35k miles and a dent in the tailgate….we left with a brand new 18, they made us a sweeeet deal.

  87. The Original NJ ExPat says:

    Fast – You might want to go to Knoebels instead. Half the drive, half the price, twice the fun. I’ll be taking the family there this Summer. We stay at the Holiday Inn Express in Bloomsburg. Also free admission to the park, carry in anything you want. They know they have to compete with the food you might bring in, so their food is EXCELLENT and very well priced. The only downside is you have to be prepared to be entirely surrounded by white people.

    https://www.knoebels.com/

    ExPat,

    You want to know how bad I am? I’m looking for a two night stay in Hershey and I can’t even figure out which link or trip assistance thing to go to nor what is a considered a deal or not. I got my passport 5 years ago for the first time because the family wanted to go to the Bahamas with another family otherwise I wouldn’t even have gotten it then. F.ucking sad. lol!

  88. Ex-Essex says:

    12:25 I concur travel suuuucks – especially air travel

  89. The Original NJ ExPat says:

    Another great feature at Knoebels: Shaded benches all over the place, surrounding every ride. You can buy an all access pass or you can buy tickets and go on rides ala carte.

  90. The Original NJ ExPat says:

    I haven’t been on a commercial airline since 2003.

  91. Not MethyEddy says:

    Eddie, my friend. It sounds like you are confused.

    YOU are a WORKER, NOT a CAPITALIST.

    So put down that crazy nutty ugly angry russian’s book. A get yourself a copy of Marx’s Manifesto

    https://youtu.be/WinsZdTm-a0

    Fast Eddie says:
    June 28, 2018 at 12:22 pm
    ExPat,

    You want to know how bad I am? I’m looking for a two night stay in Hershey and I can’t even figure out which link or trip assistance thing to go to nor what is a considered a deal or not. I got my passport 5 years ago for the first time because the family wanted to go to the Bahamas with another family otherwise I wouldn’t even have gotten it then. F.ucking sad. lol!

    Fast Eddie says:
    June 28, 2018 at 12:25 pm
    I’ve been on a plane once in the last 38 years. Lol!

  92. D-FENS says:

    Grim you’re cracking me up today.

  93. Fast Eddie says:

    Methyl Ethyl Eddy,

    I’m 600 pages in on Atlas Shrugged. It’s a fascinating illustration on the the lives of those who strive vs. those who don’t as depicted through personal experiences by the author. I’m doing pretty good for a “worker” but thanks for your concern.

  94. D-FENS says:

    I am not kidding…Al Gore just publicly endorsed Phil Murphy’s budget and Murphy retweeted it minutes later. Murphy must be calling all his friends in politics asking for help.

    @algore
    17m17 minutes ago
    More
    Under the strong leadership of @GovMurphy, New Jersey is primed to become one of America’s biggest turnaround stories. All of NJ’s elected officials must stand with him & finally deliver on the promises they’ve made, including asking millionaires to pay their fair share.

  95. Fast Eddie says:

    Isn’t it interesting how the leftist snowflakes despise the production class yet depend on them to fund their lifestyles?

  96. Trick says:

    30, we do not live in Mendham but have the same school district. The $450, to $550 not on main roads sell quickly. Must be just the high ends.

  97. The Original NJ ExPat says:

    That’s OK. I get a new cell phone every 10 years whether I need one or not.

    for grim: CDMA: 850/1900 MHz

    You’ll lose widespread cellular availability by the end of next year when Verizon shuts down this network.

  98. The Original NJ ExPat says:

    Chi – I concur on all these points. I just want to see all of the seats turn over as fast as possible, I don’t even care what party takes the seats, in the long term(we certainly need some more Republicans right now or nothing will get done). Term limits would be absolutely fantastic.

    There is nothing special or innovative about her (although she is polished and has a good presence). She fits the current dynamic and it is a good story. Anyone exposed to DC will eventually be corrupted. It is why term limits would be beneficial. Right now she is the face of her district, but eventually they become more like DC, and resemble less their sending district. There is too much power, influence and hubris. Further, they problem is that in order to be effective in DC, you need to become a scumbag.

  99. Grim says:

    She stepped in shit with the border separation issue, capitalized on it, and won.

    Didn’t let that crisis go to waste.

    All the makings of a great politician.

  100. yome says:

    Foxconn Breaking Ground in Wisconsin Plant

    http://money.cnn.com/2018/06/28/technology/foxconn-wisconsin-plant/index.html

    Foreign Companies moving manufacturing in the US

  101. The Original NJ ExPat says:

    My first cell phone, company issued, was really a brick too. Not like the Dynatac, but it was about the size of an old school walkie-talkie. Looking back at pictures, it was probably a 1996 model and my company probably picked them up cheap in 1998, but they were gigantic. I think in less than a year they gave us all Nokia 6160’s instead, which seemed truly miniature compared to what were using.

    No, only that the Dynatac brick phone is the one that’s most recognizable analog.

  102. Hold my beer says:

    Al gore is basically an idiot.

  103. The Great Pumpkin says:

    There is absolutely nothing to worry about with properties under a million in nj.

    First, these multi million dollar homes are enormous.

    Second, how many people can afford a 1.7 million dollar house or higher? Very few people, hence, why even worry about this part of the market. It has nothing to do with the general housing market.

    Third, how much appreciation or fast sales do you expect to see in a market like memdham. How much higher can the prices go? Nj had a huge runup in the high end market in the past 30 years. Mendham probably had greater appreciation over the past 30 years than 95% of America. So why should it continue to infinite?

    I wouldn’t write off these places yet, but don’t expect huge gains in the upper part of the nj housing market while our economy is transitioning to its new phase. Once the new transition phase is established in our economy, these places will thrive again with all the money being made in the new economy. Yes, nj will become tech leader again, it’s only a matter of time. Location says so.

    Yo! says:
    June 28, 2018 at 12:03 pm
    30 year, are homeowners in Mendham and similar areas aware their home values are declining at a time when home values are rising in 95% of the country?

  104. The Great Pumpkin says:

    You will know nj hits it’s transition to a new economy when our cities change identies from slums to vibrant liviable cities. Don’t laugh, look how far Brooklyn or JC has come, this would have been thought impossible 30 years ago.

  105. D-FENS says:

    @normmacdonald
    Follow Follow @normmacdonald
    More
    The idiot sees the world as Good vs Evil. The cynic sees the world as Evil vs Evil. The truth that no one seems able to see is that the world is, and always has been, a battle of Good vs. Good.
    5:50 PM – 25 Jun 2018

  106. chicagofinance says:

    Google Translates lyrics to Rock Me Amadeus

    Rock me all the time to the top
    He was a punk
    And he lived in the big city
    It was in Vienna, was Vienna
    Where he did everything
    He had debts because he drank
    But all women loved him
    And everyone called
    Come and rock me Amadeus
    He was a superstar
    He was popular
    He was so exalted
    Because he had flair
    He was a virtuoso
    He was a Rockidol
    And everything shouted
    Come and rock me Amadeus
    Amadeus, Amadeus, Amadeus
    Amadeus, Amadeus, Amadeus
    Amadeus, Amadeus, oh, oh, oh Amadeus
    Come and rock me Amadeus
    Amadeus, Amadeus, Amadeus
    Amadeus, Amadeus, Amadeus
    Amadeus, Amadeus, oh, oh, oh Amadeus
    ey
    It was seventeen hundred and eighty
    And it was in Vienna
    No plastic money anymore
    The banks against him
    Where the debt came from
    Everyone knew it
    He was a man of women
    Women loved …

  107. Not MethyEdddy says:

    Fast Eddie in denial about being a worker (not a owner, producer but don’t keep the money) not a capitalist (owner and keeps capital).

    https://youtu.be/aJLn9gyzXZE

  108. grim says:

    Yes, nj will become tech leader again, it’s only a matter of time. Location says so.

    他媽的

  109. Fast Eddie says:

    not a owner, producer but don’t keep the money

    I’m a stockholder invested in multiple companies. I own a piece of each of them. Now go make my supper.

  110. leftwing says:

    “I have been working on a property to bid on in Mendham Boro this morning. What a disaster that high end market is!”

    How about this gut punch?

    https://www.zillow.com/homes/for_sale/Mendham-NJ/52403071_zpid/397829_rid/2-_beds/195000-5274000_price/776-20991_mp/globalrelevanceex_sort/40.756701,-74.621437,40.739958,-74.648902_rect/14_zm/

  111. Not MetthyEddy says:

    Eddie, what do you want for supper? Dirty water with sock on it or Dirty sock in water?

    I can see how you are a stockholder and owner of your multiple enterprises. The issue is because you keep reading that crazy russian’s book, you are stuck in phase 2.

    https://youtu.be/3zc4bGkU05o

  112. Yo! says:

    Left wing, that is the thirteenth price reduction on that property. Has to be a record. Looking at the photos, why do people pave their front yards like that?

  113. leftwing says:

    Yo, and that was built by the owner, all-in for more than the first ask…..

    Circular drive like that….entertaining I would suppose. More than five acres so not really losing yard……

  114. leftwing says:

    Ocasio Cortez a boon to Repubs.

    They don’t and won’t put a dime in that district. Like most of NYC the primary winner is the general winner. Bluest of blue.

    Good for Repubs since aside from unseating a powerful long term Dem she is a self proclaimed soc1alist.

    The midterms are going to be all about bright line ideology and turnout.

    The Dems tossing out senior members in favor of electing soc1alists can be used to motivate even the most reticent Repub……

  115. Fast Eddie says:

    leftwing,

    It is a beautiful home. 48K in taxes… oofa.

  116. The Great Pumpkin says:

    Elegantly breaks down the main contradictions of capitalism.

    Around the 9 min mark, does a fantastic job breaking down how the current economy is functioning.

    https://m.youtube.com/watch?v=f9dLcGJ5NI0

  117. No One says:

    Pumps pumping Marxist professor’s videos and batter in a can. Makes total sense to you. You give away your properties first, I’ll catch up later. Maybe you and Otto and that twitter-paster guy can have video-sleepovers watching Marxist videos and start transgressing social norms together.

  118. The Great Pumpkin says:

    Whoa..can’t even be open minded can you?

    There is a problem coming. Compound growth can’t last forever. How do you maintain capitalism in a non growth environment? Impossible.

    We better come up with an answer because if we don’t…..war will come and it won’t be pretty based on the weapon technology of today.

  119. 30 year realtor says:

    Just working on a property for the Bergen sale tomorrow. This one is 2700 GLA, built in 2002 and located in Montvale. Complex has not stopped depreciating since the financial crisis. Off 7 to 8% since 2011. Price point around $600,000 currently. Not exactly the hih end for the area.

    Could it be that since Fast Eddie moved to the Pascack Valley word has spread and prices are in decline?

  120. D-FENS says:

    Trump will legalize weed before Murphy. You heard it here first.

  121. PumpkinFace says:

    It’s called a recession. If only the awesome government would get out of the way. Idiot

    The Great Pumpkin says:
    June 28, 2018 at 5:19 pm

    How do you maintain capitalism in a non growth environment? I

  122. 3b says:

    Trick I don’t know why anyone would buy a house on a main road.

  123. Leftwing says:

    So 30, did you get the mendham property today

  124. Kingpin says:

    Best location to buy in jersey? Personal residence.

Comments are closed.