Housing to get more expensive in 2019

From HousingWire:

CoreLogic: Home prices will rise in 2019

In 2018, the principal-and-interest mortgage payment on the median-priced home climbed by more than 16%, according to the latest data from CoreLogic.

CoreLogic reports that although the median home price rose by less than 6% over the past year, prospective buyers are in for a rude awakening come 2019.

According to the company’s forecast, American home prices will rise by almost 5% year over year in September 2019. In fact, it claims that some mortgage rate forecasts point to mortgage payments climbing to more than 11%.

“A consensus forecast suggests mortgage rates will rise by about half of a percentage point between September 2018 and September 2019,” CoreLogic writes. “The CoreLogic HPI Forecast suggests the median sale price will rise 2.7% in real, or inflation-adjusted, terms over that same time period.”

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65 Responses to Housing to get more expensive in 2019

  1. grim says:

    From NJ101.5:

    WHAT WILL HAPPEN TO NEW JERSEY’S ECONOMY IN 2019?

    As we begin 2019, the global economy seems uncertain. But experts believe the outlook is more positive than negative, including in New Jersey.

    “Our growth rate for employment, at least through October, was very consistent to that of the nation, was very consistent to that of New York and was ahead of Pennsylvania and Connecticut,” Rutgers University economist James Hughes said.

    As a result, “the New Jersey economy in 2018 really outperformed our expectations earlier in the year.”

    Hughes pointed out that after a sluggish period following the Great Recession, “the last several years we have gained traction and the economy has gotten up to speed.”

    He said the state economy has been impacted by fundamental structural changes, including the flow of Millennials out of suburban New Jersey into urban environments, and suburban office buildings and malls struggling to stay relevant.

    “We’ve had to adjust to really a post-suburban economic and demographic era, but I think the state has finally started to respond,” he said.

    “The office industry has repositioned a number of buildings and campuses, really transforming them into viable future economic assets.”

    At the same time, as Millennials — adults as old as 35 —have started having children, “they’re going to be looking for family-raising environments, and I think they’re getting tired of living in a shoebox in Brooklyn and a little bit of green patch in New Jersey looks pretty good.”

    Hughes pointed out the recent announcement by e-commerce giant Amazon to locate a new headquarters in Long Island City will benefit the Garden State economically.

    “We’re in the gravitational field of New York City and so we’re getting a spillover effect from that. We have a chance to be part of that broader technology ecosystem going forward.”

    He said when all of these factors are taken together, “we’re in a much better position today than we were, say, in 2012 and 2013.”

  2. grim says:

    “We will make history and New York will move forward, not by building a wall, my friends, but by building new bridges,” Cuomo said.

    Can we start with a tunnel?

  3. The Original NJ ExPat says:

    I wonder how much more AMZN Pumps is going to buy today?

  4. grim says:

    Interesting hypothetical end-game for China – Taiwan resists reunification, US backs Taiwan. Hong Kong steps out of the One China, Two Systems plan back to independence. Tibet gains recognized sovereignty.

  5. Fast Eddie says:

    At the same time, as Millennials — adults as old as 35 —have started having children, “they’re going to be looking for family-raising environments, and I think they’re getting tired of living in a shoebox in Brooklyn and a little bit of green patch in New Jersey looks pretty good.”

    The suburbs were supposedly left for dead 3 or 4 times in my lifetime. As much as I despise the fat f.ucks wanting “top” dollar for their sh1tholes and the leeches aka house tour guides, the pendulum will always swing. It’s a competitive area and always will be.

  6. 3b says:

    Fast I have never heard in the past that the suburbs were dead. It’s only in the last few years. For years from the 50s onwards people were leaving the urban areas In droves myself included. Whether it switches back now is in my mind not determined yet or by how much. They may want a patch of green only problem is they will be stuck working in the city with very little time to enjoy it. At least in my Day all most of the Moms were home and they and the kids could enjoy the patch of green.

  7. Juice Box says:

    Cuomo makes a firey speech from a dormant detention island for enemy aliens.

    How is that for fake news?

  8. Fast Eddie says:

    3b,

    We went through this cycle a couple of times. A few of my cousin’s kids got married, had to live in Hoboken/Jersey City. Now the 2nd kid is on the way for at least two couples. They’re looking to move and want a house. One is looking in the Caldwells, the other in the Ridgewood area. I have two more weddings coming up in the next few months. They undoubtedly will follow. I understand the stay at home Mom is gone but these houses are selling and always will. If the suburbs were dead, these shitboxes wouldn’t be priced with 5 and 6 handles. In fact, the neighbor that bought the house across from me a yer and half ago asked me if I want to sell to her sister. These are people in the 40 year old range with young kids.

  9. The Original NJ ExPat says:

    My cousins daughter, a millennial, just sold her house this past Summer to go back to renting. Her words were, “I didn’t realize the commitment it took.”

  10. Fast Eddie says:

    They may want a patch of green only problem is they will be stuck working in the city with very little time to enjoy it.

    They’re doing it for their kids first. And even in my old age, I find plenty of time to enjoy my house and even have flexibility to tele-commute, which is becoming more prevalent.

  11. The Original NJ ExPat says:

    Confucious say: Glass touchers no wantee houses.

  12. The Original NJ ExPat says:

    Here’s why it’s not so crazy to share a home with 17 roommates.

    https://www.citylab.com/life/2017/02/what-its-really-like-to-live-in-a-dorm-for-adults/516036/

    If Pumps could think outside of the box he would be adding a U-shaped driveway to his highway house (for the Ubers to queue up) and start renting.

  13. Fast Eddie says:

    It took me 20 seconds to find a 1bd/1bth apartment in Upper Montclair, a block from the train for $1300 per month. The “urban” thing is a scam and living with other people hardly ever works.

  14. No One says:

    Anyone remember back in the late 90s when people were predicting that the internet and videoconferencing meant that people would move out of cities because they could work anywhere? Even business flights would be jeopardized.
    Last year out of about 100 meetings, I had 1 videoconference, roughly a dozen phone conferences, and the rest were in person. Looks like the use of airlines and hotels haven’t been “disrupted” in my industry (though printed documents sent through mail has been).

  15. Juice Box says:

    re: “living with other people hardly ever works”

    Especially when you are just trying to play your weekly poker game with your buddies Speed, Vinny, Roy, and Murray the Cop and your uptight roommate keeps interrupting that coasters are required to sit under the beer, and keeps spraying Lysol all over the place.

  16. Juice Box says:

    A 50 yr old rock star friend of mine lives with just one roommate now. He used to have around ten in an old farmland house out in Somerset County. I used to call it the commune, lots of great partying went on there that was for sure. Roommates came and went but the party went on for nearly two decades.

  17. Bystander says:

    Eddie,

    The only difference from previous gens is that companies have abandoned suburban corporate centers thereby forcing younger folks into the city for living pay. The suburban jobs left behind can’t sustain a family, mortgage, taxes, daycare etc. and crippling student loan debt as well. I see it here in CT often, early 50s, teenagers and Daddy now doing 2 hour each way when used to do 40m locally. Jobs are gone.

    No one,

    Completely agree on video revolution. I remember setting up conferences as first job in 1996. Boss said soon it would be end to face to face. Reality is you really need to sense people to trust them. It is innate human nature.

  18. Fast Eddie says:

    Bystander,

    I agree. My point is that the urban centers are not the do all, end all. A 4/2 in the burbs is always going to sell and always command a price. By the way, I’m not 2 hours away personally. And why do towns like Wyckoff command such high prices and have no train? It’s a curious question.

  19. Yo! says:

    In NJ, trend away from single family living to multifamily is accelerating. In 2017, more multifamily units were delivered than single family (SF includes 2-family houses) in NJ. First time this has ever happened since breakout of housing type began in 2003. 2018 data through September shows multifamily continues to dominate. Multifamily is dominant in Bergen, Essex, Hudson, Middlesex, Morris, Somerset, Sussex, and Union.

  20. The Original NJ ExPat says:

    Heh-heh. It is proclaimed, therefore it is so. Sorry gary, but that sounds a little like Pumpkin-speak.

    Let me try: As long as people eat sandwiches for lunch, they will always buy waxed paper to wrap it.

    A 4/2 in the burbs is always going to sell and always command a price.

  21. homeboken says:

    No One – I can vouch for business travel being as busy as it has ever been, post-9-11.

    I logged 94,000 miles last year on United. Flights in and out of EWR are always booked to the max – business travel is solid as well. I always book economy and even with my status, I am hardly ever getting bumped. Other travelers are ponying up for full-freight 1st class tix.

  22. Fast Eddie says:

    ExPat,

    At least I don’t claim it’s a straight line up.

  23. chicagofinance says:

    2 main issues…..

    #1 grass is greener…. if you grow up in the city, you pine for open space in the suburbs – if you grow up in the suburbs, you pine for the excitement of the city (not an absolute truism – shades of gray) – most of the boomer generation around here grew up in the city and fled as it got sh!tty; most of the milennials grew up in the suburbs

    #2 it is so much fcuking easier to deal with kids in the suburbs; also any mom who is the slightest bit neurotic is going to have a hard time dealing with all the variables in an urban environment

    3b says:
    January 2, 2019 at 9:06 am
    Fast I have never heard in the past that the suburbs were dead. It’s only in the last few years. For years from the 50s onwards people were leaving the urban areas In droves myself included. Whether it switches back now is in my mind not determined yet or by how much. They may want a patch of green only problem is they will be stuck working in the city with very little time to enjoy it. At least in my Day all most of the Moms were home and they and the kids could enjoy the patch of green.

  24. chicagofinance says:

    I would argue that it is more of an affordability issue for those under 35 than a preference. Also, just because it is first time doesn’t imply that it has never happened….. it is just the first time in the data domain that this effect has been observed.

    Yo! says:
    January 2, 2019 at 11:03 am
    In NJ, trend away from single family living to multifamily is accelerating. In 2017, more multifamily units were delivered than single family (SF includes 2-family houses) in NJ. First time this has ever happened since breakout of housing type began in 2003. 2018 data through September shows multifamily continues to dominate. Multifamily is dominant in Bergen, Essex, Hudson, Middlesex, Morris, Somerset, Sussex, and Union.

  25. The Original NJ ExPat says:

    I agree with point #1, at least that’s how I saw it in the mid 80’s. I worked at Singer Kearfott where we had a huge influx of kids fresh out of college, now making great salaries for the first time. It seemed like close to a 50/50 split of debt-free 2o-somethings, now making “big” money, maybe more than their parents.

    Kids commuting in from the 5 boros wanted something with a patch of grass. Kids (like me) who grew up maintaining houses in the suburbs wanted something we could completely maintain from our checkbook.

    Point #2
    Not so much in agreement, but then we were always a one income family in the city, so maybe that’s part of the bias. If you are two income, maybe the ‘burbs work better, since you don’t raise your own kids during the daylight hours. Two cars, two jobs, drop the kids off somewhere for somebody else to raise them…yeah, maybe the ‘burbs work better for that. One income, one job, one car (or less), full time parent(s) with the kids until 3, 4, or 5 years old…city life is pretty nice, and not too hard. Didn’t think we would fall into it as both my wife and I were suburb-raised.

    2 main issues…..

    #1 grass is greener…. if you grow up in the city, you pine for open space in the suburbs – if you grow up in the suburbs, you pine for the excitement of the city (not an absolute truism – shades of gray) – most of the boomer generation around here grew up in the city and fled as it got sh!tty; most of the milennials grew up in the suburbs

    #2 it is so much fcuking easier to deal with kids in the suburbs; also any mom who is the slightest bit neurotic is going to have a hard time dealing with all the variables in an urban environment

  26. The Original NJ ExPat says:

    Romney already showing he is a cunt.

  27. The Original NJ ExPat says:

    Romney does have the most presidential hair…but he is still a cunt with special underwear.

  28. No One says:

    I think everything Romney wrote in his essay is true. Trump should declare victory and retire in 2 years.

  29. chicagofinance says:

    Boston is one of the few cities that you can be make such a statement…… the culture of that city underpins the intolerance of Dublin in north america…… you don’t get hassled by vagrants and filth because the inhabitants simply won’t tolerate it and the police and mayor back them up. Life is easy of you are a middle aged white guy, but sux if you are anyone else….. the racism is palpable and the tension is so thick in the air you can cut it with a knife if you are not white……

    The Original NJ ExPat says:
    January 2, 2019 at 11:49 am
    …city life is pretty nice, and not too hard.

  30. Bystander says:

    Chi,

    On point 2, this past Friday, we took 2 and 4 year old for Bronx botanical holiday train show (amazing) and decided to stay over in city. Hell is being locked in 150 sq ft box on a rainy day with two kids. Lucky that it subsided and we got to park on Sat..but between hauling of sh&t, the dirty transit and variable chaos of trying to keep kids uninjured, I could never do it. Had a great breakfast at Community in Morningside heights and saw three parents with kids. Unless you have sick money, that is crazy stressful existence. On flip side, yesterday, my 4 year old ran into gated backyard looking for bugs..no issues, no stress.

  31. The Great Pumpkin says:

    Some food for discussion.

    “I agree, the real social!st/commun!st leadership has been gutted and broken , purged back in the 1900s as Wolff explains in his latest talk. Even Sanders doesn’t come close.

    But do you see people are ready for real systemic changes?
    I don’t.

    The latest gimmicks are things like MMT, which still allows for the inequality produced by the capitalist market.
    But at least could be used to subsidize the worker co ops.
    Even MMT however, is not being discussed in the mainstream.

    The corporate power elite bourgeoisie literally have us by the throat using Chris Hedges words, they have successfully brainwashed an entire generation into supporting their own indefinite oppression,and the majority of people are too uneducated and apathetic to realize what is needed to permanently reverse that.

    Hell most people seem to be living in a fantasy propped up by intellectual propagandists like Pinker, that everything is getting radically better and we all ought to shut our eyes as a demonstrably psychopathic corporate cabal further consolidates all wealth and power in our societies.”

  32. The Great Pumpkin says:

    Someone gets it, but belittle him for pointing out the truth.

    Fast Eddie says:
    January 2, 2019 at 8:24 am
    At the same time, as Millennials — adults as old as 35 —have started having children, “they’re going to be looking for family-raising environments, and I think they’re getting tired of living in a shoebox in Brooklyn and a little bit of green patch in New Jersey looks pretty good.”

    The suburbs were supposedly left for dead 3 or 4 times in my lifetime. As much as I despise the fat f.ucks wanting “top” dollar for their sh1tholes and the leeches aka house tour guides, the pendulum will always swing. It’s a competitive area and always will be.

    Fast Eddie says:
    January 2, 2019 at 9:19 am
    3b,

    We went through this cycle a couple of times. A few of my cousin’s kids got married, had to live in Hoboken/Jersey City. Now the 2nd kid is on the way for at least two couples. They’re looking to move and want a house. One is looking in the Caldwells, the other in the Ridgewood area. I have two more weddings coming up in the next few months. They undoubtedly will follow. I understand the stay at home Mom is gone but these houses are selling and always will. If the suburbs were dead, these shitboxes wouldn’t be priced with 5 and 6 handles. In fact, the neighbor that bought the house across from me a yer and half ago asked me if I want to sell to her sister. These are people in the 40 year old range with young kids.

  33. The Great Pumpkin says:

    3b,

    For the millionth time, north jersey is not like any other suburb in the country. We call it suburbs, but it’s a cross between true urban and true suburban. You can’t find any other place like it. You can get anything you want, and I mean anything, in a short amount of time. You have deer and foxes in your yard, yet 5 min to super market, or 1 hour to the beach or nyc (and all it offers). God knows how many top of the line restaurants. You can go on and on.

    How many places you know that fit this description? It’s almost impossible to find. North Jersey is currently really cheap based on all that it provides. Cry about the taxes, but where else are you getting a 500,000 home in a good school system in commutable distance to good jobs. NO WHERE ELSE OFFERS THIS. Try finding that for 500,000 in any of the “hot” areas in other parts of the country. Good luck! You won’t find anything for a million in these other parts of the country that offer good jobs and urban access like north jersey.

  34. The Great Pumpkin says:

    *You won’t find anything for under a million in these other parts of the country that offer good jobs and urban access like north jersey.

  35. The Great Pumpkin says:

    Agreed. Unless you are wealthy, the city is rough to raise a family. I don’t have to commute two hours, but I now have to figure out how to keep my kid entertained in a small apartment, where I have to spend lots of money to go and do anything with the kid outside of said apartment. You also have to have constant supervision when your kid does anything. Might be for some people, but not for most.

    Bystander says:
    January 2, 2019 at 12:39 pm
    Chi,

    On point 2, this past Friday, we took 2 and 4 year old for Bronx botanical holiday train show (amazing) and decided to stay over in city. Hell is being locked in 150 sq ft box on a rainy day with two kids. Lucky that it subsided and we got to park on Sat..but between hauling of sh&t, the dirty transit and variable chaos of trying to keep kids uninjured, I could never do it. Had a great breakfast at Community in Morningside heights and saw three parents with kids. Unless you have sick money, that is crazy stressful existence. On flip side, yesterday, my 4 year old ran into gated backyard looking for bugs..no issues, no stress.

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  37. Yo! says:

    American Dream leasing status update:

    https://emma.msrb.org/ES1226995-ES958069-ES1359044.pdf

    My question is how many of the signed leases contain clauses that allow tenants to cancel the lease or pay reduced rent if the developer fails to hit schedule or leasing targets.

  38. The Original NJ ExPat says:

    Yeah, $18K taxes on highway houses where no one with a GED or higher would raise their kids.

    For the millionth time, north jersey is not like any other suburb in the country.

  39. grim says:

    Pretty much the entirety of North Jersey is more city than most cities across the US.

    Not defending Pumpkin, but this is a point I’ve made numerous times before.

    The definition of suburb across America … does not describe NNJ.

  40. grim says:

    I mean, hell, the “City” of Bergen County is nearly 50% larger than Nashville by population, despite being HALF the size (247 square miles vs the 526 square miles that define “Nashville” proper). I’m not even talking about the broader Nashville MSA – which spans a ridiculous SEVEN AND A HALF THOUSAND SQUARE MILES, which is damn near the size of the entire State of NJ.

  41. grim says:

    Read that over and over until you get it.

  42. grim says:

    I’m still somewhat challenged by the definitions of city versus suburb vs exurb. Those specific criteria simply can’t be consistent across the US.

    For example, the New York-Newark-Jersey City, NY-NJ-PA Metropolitan Statistical Area is made up of just under 19 million people. The largest subcomponent of this is the area including NYC and the immediate surroundings, the New York-White Plains-Wayne, NY-NJ Metropolitan Division, made up of just under 12 million people. Along side LA, these are the two highest population density areas in the US.

    Comparing against the 2010 census list of urbanized areas, NYC, LA, and Chicago metros FAR outnumber most all cities and urban areas (19m, 12m, 8m respectively). You would need to combine the next 12 most populous urban areas to equal the population of the top 3 (Miami, Philly, Dallas, Houston, Washington, Atlanta, Boston, Detroit, Phoenix, SF, Seattle, and San Diego).

    Dallas? 5 million
    Washington? 4.5 million
    Boston? Touch over 4 million
    Most other large metros in the US are a third or less of the NY Metro area.
    St. Louis? 2m
    Columbus? 1.3m
    Jacksonville? 1m
    SLC? 1m
    Nashville? 1m

    Hell, more people live in Bergen County than the whole of the Nashville Metro. So is Bergen a Suburb or is Bergen a city? Based on population and population density, should’t BC be a city in it’s own right?

    So what’s a City and what’s a Suburb? What’s the dividing line?

    When I look at sat maps of cities across the US, it’s clear what a city is, it’s a bunch of dots in the middle of nowhere, but look at LA, Chicago and NYC? It’s all dots, there is no delineation.

  43. grim says:

    I could leave my house in shithole Wayne, and walk all the way to midtown Manhattan, and never leave what would widely and unequivocally be considered “City” across 99% of the United States.

    I mean, realistically, 17 of the top 50 US Cities by population density are in NJ, including numerous towns that would widely be considered “suburbs” to us here.

  44. Bystander says:

    Funny Pat..I thought Pumpkin was finally coming to realization that his house might be worth $500k, after taxes hit $20k.

    “..where else are you getting a 500,000 home in a good school system in commutable distance to good jobs.”

  45. grim says:

    City of Dallas
    Population – 1.3 million
    Area – 386 square miles
    Density – 3,367 per sqmi

    Bergen+Passaic County
    Population – 1.4 million
    Area – 443 square miles
    Density – 3,160 per sqmi

    Just for comparison’s sake. Or…

    Bergen + Hudson
    Population – 1.6 million
    Area – 308 square miles
    Density – 5,194 per sq mi

    This would be the 6th largest city in the USA, slightly larger than both Philly and Phoenix.

  46. GdBlsU45 says:

    No one. Romney’s vision of America is bankrupting us. Trade deficits, open borders with a generous welfare state and being the worlds police is not sustainable. As for the delivery, I don’t care for it but I’ll take a loudmouth over a duplicitous nice guy any day.

  47. Yo! says:

    Bergen County is urban measuring by land use patterns, though culturally Bergen County is similar to other areas bordering major central cities.

    Garfield and Palisades Park – places dominated by single family homes and lacking many high rises – are denser than Boston, Philadelphia, and Chicago.

  48. The Great Pumpkin says:

    Grim,

    Excellent breakdown.

    Based on the population density and economic output of this area, there is no way north jersey is dying or will die unless the entire nation dies. This place is so unique and important to our nation’s lifeblood.

    Hell, take away nj’s competitive education system and the nation will die a slow death. How many areas in the country are living off of nj educated students? How many out of state colleges does this small state support? How many businesses does nj educated individuals support? Yup, but let’s make nj the joke of the nation due to issues that come with extreme density. Losers!

  49. chicagofinance says:

    Look out below….
    Breaking News…

    Apple Inc. AAPL 0.11% said Wednesday that it expects first-quarter revenue will be lower than it previously expected at about $84 billion.

    The company said that, while it had previously expected weakness in some emerging markets, “this turned out to have a significantly greater impact than we had projected.”

  50. grim says:

    Bergen + Hudson

    This would be the 6th largest city in the USA, slightly larger than both Philly and Phoenix.

  51. Bystander says:

    Hah, yet completely different worlds. Drop someone off in Northvale and tell them to find their way to NYC. Do the same in Hoboken. See what they say when you tell them they have to do it everyday. Show them tax bill for the privilege. Might as well be different states.

  52. grim says:

    Easier to think of it this way.

    In Texas, the City and the County are the same name.

    Like dropping them off in Dallas and asking them to find Dallas.

  53. 3b says:

    A patch of green for the kids that for the most part are in day care all day. And then in the malls on a nice day of the weekend. One thing if one parent is doing the schlep to the city of 1.5 to 2.0 or more hours each way but both parents?? Zero quality of life in my opinion. Also kind of scary that people in their 40 s are taking on big mortgages with young kids paying mortgages into ones 70s is certainly not attractive! There will always be a demand for houses in Ridgewood or Chappaqua I would imagine for the Uber wealthy the Wall Street superstar or tech guru who have a stay at home spouse but for the majority that is not the case. As for telecommuting that ebbs and flows. I know three people whose company had it and took it away including Merrill,BONY and IBM.

  54. Bystander says:

    On another note, my buddy looking since August just landed 3 month gig for $90 hr C2C at Prudential. Said they called him in October but never called back. Suddenly, week before Xmas, recuiter asks him to come in. He said the interview lasted 10m at most. They could not tell him any specifics about projects or role. Sounds like someone left or they had to spend some budget or lose role. He is happy to be employed finally in this “hot” economy. 3 kids under 3 so that is understandable.

  55. Bystander says:

    In the worst job market I encountered (2001-2002) it took me 6 months to find a job and I was asking about 1/3rd of money I am asking now. “Hot” market..hmm.

    3b,

    I agree. Even sadder is that you will schlep, work like a dog then buy a cheaper, small, green patch down south for grandkids who will never visit. I am in deep thought about my little ones. I have 20 years plus to retire and if I choose a place now for retirement (perhaps buy and rent) then I can build memories for them. Problem is that people choose some random place to retire for which their kids have no tie or affinity.

  56. 3b says:

    Bystander That is assuming the grandkids and their parents have not already moved south; I know a few of those too.

  57. ExEssex says:

    It’s always always always about the jobs. My wife (and I to some degree) made it look “easy” but I keep waiting for the a time when it all dries up. It bothers me. To be so far out on that line and living the high life (wherever you are) just means it’s more to worry about. Mo’ Money Mo Problems. But the good kind of problems. Who knows.

  58. ExEssex says:

    6:07 I landed something, really was not happy with any aspect of it, walked. Landed something else at a $20k raise from the first place, which simply put me back on the salary school where I was in NJ. But hell, I feel very fortunate. Non-union, no ‘real’ job security, one simply has to do their level best and hope for renewal. Anyhow Happy New Year one and all.

  59. ExEssex says:

    school=scale.

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  61. ExEssex says:

    More people moved out of the Garden State in 2018 than any other state, according to a new study by United Van Lines – though New York wasn’t far behind.

    New Jersey, which topped the list of the “most moved from” states, was followed by Illinois, Connecticut and the Empire State, the moving company’s study found.

    The St. Louis-based company on Wednesday released its 42nd annual National Movers Study, which tracks customers’ state-to-state migration patterns.

    “The Northeast region continues to see more residents leaving than moving in, with 57 percent of all moves within the Northeast US being outbound moves,” the company said.

    The study found that 66.8 percent of New Jersey moves were “outbound.” The percentages were 65.9 in Illinois, 62 in Connecticut, 61.5 in New York and 58.7 in Kansas, according to the study.

    Ohio, Massachusetts, Iowa, Montana and Michigan rounded out the list of the “most moved from” states.

  62. grim says:

    So I’ve been watching United Van Lines say the same thing for a decade.

    No worries, it’s only the middle class leaving.

    The ranks of the rich keep growing, the state population keeps growing.

    But the poor haven’t gotten the hint yet.

  63. Yo! says:

    If United Van Lines provided service from Bangalore, Manila, and Santo Domingo, the NJ figure would look more balanced.

  64. joyce says:

    Are more wealthy individuals moving in to the state or are existing individuals being reclassified as wealthy due to unrealized stock market gains?

    grim says:
    January 2, 2019 at 9:11 pm
    So I’ve been watching United Van Lines say the same thing for a decade.

    No worries, it’s only the middle class leaving.

    The ranks of the rich keep growing, the state population keeps growing.

    But the poor haven’t gotten the hint yet.

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