Still rising?

From CNBC:

Home prices in December rose at the slowest pace since August 2015: S&P Case-Shiller index

Homebuyers have a limit to what they can afford, and sellers are slowly having to adjust to that new reality.

Home prices increased 4.7 percent annually in December, down from 5.1 percent in November, according to the S&P CoreLogic Case-Shiller U.S. National Home Price Index. That is the slowest pace since August 2015.

The 10-city composite annual increase came in at 3.8 percent, down from 4.2 percent the previous month. The 20-city composite rose 4.2 percent year over year, down from 4.6 in the previous month.

“Even at the reduced pace of 4.7 percent per year, home prices continue to outpace wage gains of 3.5 percent to 4 percent and inflation of about 2 percent,” said David M. Blitzer, managing director and chairman of the Index Committee at S&P Dow Jones Indices. “A decline in interest rates in the fourth quarter was not enough to offset the impact of rising prices on home sales.”

The average rate on the 30-year fixed jumped to just over 5 percent at the start of November but then began falling in December. It has been hovering at just below 4.5 percent for the past two weeks, according to Mortgage News Daily. Lower rates not only help potential buyers afford a new home, they also help more buyers qualify for a mortgage.

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

70 Responses to Still rising?

  1. grim says:

    Or not?

    From Streeteasy:

    Manhattan sales prices dip 4.2 percent over past year, StreetEasy says

    Manhattan’s sluggish sales market has helped the borough’s rental market rebound, according to a StreetEasy report slated to be released Wednesday.

    The listings site said its Manhattan index, which excludes newly developed homes, fell to $1.12 million this January, a 4.2 percent drop from last year and the largest annual decline recorded since StreetEasy began tracking the transactions in 2006.

    People who under other circumstances may purchase homes in Manhattan are not buying because prices are falling and rising interest rates and tax changes are complicating the environment, according to Nancy Wu, an economic data analyst at StreetEasy.

    “Northwest Brooklyn and lower Manhattan, which are some of the places with the highest rents, have rents increasing over time — even though they have stagnated in the past when the sales market was doing better. So that shows that people who could otherwise afford to buy a home are choosing to rent in the most expensive neighborhoods instead,” Wu said. “A lot of people are just wary of taking that risk, and there’s so many good rental apartments on the market right now.”

    Manhattan homes stayed on the market a median of 111 days, with downtown Manhattan listings lingering for a median of 120 days, the longest waiting period since early 2011, according to StreetEasy’s January report.

    That analysis found 14.9 percent of Manhattan homes had a reduced price — 2.9 percentage points more than was the case last January.

    The company said its rental index for the borough increased 2.6 percent over the past year to $3,204, the fastest increase it recorded since 2016.

  2. grim says:

    #murphydidn’tknow

  3. Libturd...look me up in Costa Rica says:

    Murphy doesn’t know sh1t.

  4. 1987 condo says:

    GDP Q4: + 2.6% vs 1.8% expected

  5. D-FENS says:

    New Jersey’s lagging revenue has Wall Street worried, report finds
    https://njbiz.com/new-jerseys-lagging-revenue-wall-street-worried-report-finds/

  6. Libturd...look me up in Costa Rica says:

    Connecticut, Illinois and New Jersey are running out of time to fix their employee retirement funds.

    https://www.bloomberg.com/opinion/articles/2019-02-25/three-new-governors-face-three-old-pension-disasters

    “Steve Sweeney, New Jersey’s top-ranking lawmaker, suggested in October that the state use the public’s anger to demand solutions. Whatever it takes for politicians on both sides of the aisle to get serious about the long road ahead. All eyes in the muni market will be on this trio of troubled states in the coming budget season.”

  7. 3b says:

    I was at a conference yesterday. The topic of pension obligations came up and of course NJ. Most of us hear know this already but according to the panel of experts the only way NJ can resolve the pension crisis is through massive tax hikes. Other measures too were discussed but massive tax hikes will be number one.

  8. Fast Eddie says:

    When I got home yesterday from work, I turned the TV on and the first thing I saw was Elijah Cummings banging the gavel like a child stating that he was the chairman and some black woman senator or representative calling some republican senator or rep a rac1st. So, we went from treason and Russian collusion to children fighting over toys. And then the angry lady starting asking Cohen questions beginning with, “Do you believe” where Cohen would answer with, “I believe.” So, this hearing was to get Cohen’s opinions and allow him to vent his hurt feelings, safely and openly. Right? I’m having trouble keeping up here, can someone help me?

  9. 30 year realtor says:

    Currently have listings on market in Bergen, Passaic, Morris and Hunterdon. Several more to hit market in next 2 weeks. Those of you counting on a strong Spring market are going to be disappointed. The pulse of the market is weak.

    Listed a townhouse in Wayne last week for $599,900. Unit just had a $120,000 renovation with all new oak floors, 2.1 new baths and a new kitchen…etc. Last model match sale in good (but not renovated) condition closed 2/14/19 for $567,500. So far not a single showing request. Unit is a 3000 GLA end unit in High Point.

  10. 3b says:

    Lib Conn came up yesterday too. According to the panel Conn wants to push the pension obligations on to the municipalities.

  11. Fast Eddie says:

    Other measures too were discussed but massive tax hikes will be number one.

    Pensions are obsolete. They no longer exist. The solution is to cut pension payments, starting at 10% across the board and hope that the fat f.ucks milking the system die sooner than their average life expectancy. A 401K is now the solution… funded by ones personal commitment and hard work. Sometimes a second job is needed. Well, so be it. Wipe the tears from your eyes and be a man. Our fathers often worked seven days a week. They were men. Stand up and provide for yourself.

  12. ExEssex says:

    8:53 nope I doubt anyone can help you buddy.

  13. Juice Box says:

    I believe we have been saying for a while that the State will hoist the Pension and Medical gaps on the towns with large bills.

  14. Yo! says:

    https://assets.floodiq.com/2019/02/784113f9d16323db82f696b9c3b0874e-First-Street-Foundation-Mid-Atlantic-Press-Release-Immediate-Release.pdf

    Property value loss due to flooding based on analysis of 13.3 million real estate transactions. New Jersey at epicenter. Ocean City, NJ, hardest hit, worse than Miami Beach, Key West, and New York City. Hoboken and Jersey City values immune from flood risks.

  15. The Great Pumpkin says:

    If the state didn’t contribute to the pension system, what makes you think they will contribute to a 401k? There are a few fat slobs, and a lot of low paid hard working individuals counting on this pension to survive retirement. They have been robbed by the state to lower our taxes. You will never look at it this way because you are not the one being robbed. If you worked your whole life for a pension, I’m sure you wouldn’t want 10% knocked off….right…I said right?

    You cry about taxes, and I can only imagine how you would cry if your pension was stolen right before your eyes. Have a little sympathy. Most pensions are below 50,000. Don’t go using connected cops and corrupt politicians to lay blanket statements on all govt workers. Most are paid sh!t.

    Again, if this state paid 80% of what they were supposed to, we wouldn’t even be having this conversation right now. How is it that all these other states are fine? Nj has one of the least generous pensions out there and it’s in the hole, yet the more generous pensions in other states are fine? How can this be? It’s beyond f’ed up how they robbed the avg govt worker in this state. Beyond f’ed up. Of course, people will focus on the few fat slobs at the top and use it as ammunition to screw the rest of the workers actually working hard for this state.

    Fast Eddie says:
    February 28, 2019 at 8:59 am
    Other measures too were discussed but massive tax hikes will be number one.

    Pensions are obsolete. They no longer exist. The solution is to cut pension payments, starting at 10% across the board and hope that the fat f.ucks milking the system die sooner than their average life expectancy. A 401K is now the solution… funded by ones personal commitment and hard work. Sometimes a second job is needed. Well, so be it. Wipe the tears from your eyes and be a man. Our fathers often worked seven days a week. They were men. Stand up and provide for yourself.

  16. D-FENS says:

    https://www.forbes.com/sites/trevornace/2019/02/27/scientists-just-pulled-co2-from-air-and-turned-it-into-coal/#2d3916954563

    I think the above method combined with modern nuclear power would go a long way to combat climate change.

    It’s more palatable than asking everyone in the US to drastically alter their lifestyles.

  17. Fast Eddie says:

    Shut up and go get me coffee.

  18. Libturd...look me up in Costa Rica says:

    The state is rapidly approaching the point where tax increases do not raise revenue. As Grim pointed out, raising the gas tax caused all of those out of state drivers who used to drive over the border to fill up to stop doing so. Though NJ drivers now pay more, the amount of tax revenue collected has not increased (in the short run). The same seems to be occurring with state income taxes. As the rates go up on individuals or corporations, the equation tilts in favor of leaving the state for greater savings.

    And all Murphy keeps doing is raising taxes mainly on quality of life issues that we existed just fine without.

    And then there’s this 200 billion dollar unfunded pension and benefit liability that he’s done absolutely nothing to fix.

    On the bright side, we almost have the $15 minimum wage, sanctuary cities, greater maternity leave benefits, your babysitter gets paid sick days and there is greater cross-gender pay equality, which will help a ton when the state goes bankrupt.

    Still waiting on NJTransit improvements (it’s still horrible and there are still regular cancellations), the state bank, legalized marijuana and all of the other promises he didn’t keep.

  19. The Great Pumpkin says:

    So much fear in the air….media doesn’t help with all these negative stories trying to sell fear. Click it!

    30 year realtor says:
    February 28, 2019 at 8:56 am
    Currently have listings on market in Bergen, Passaic, Morris and Hunterdon. Several more to hit market in next 2 weeks. Those of you counting on a strong Spring market are going to be disappointed. The pulse of the market is weak.

    Listed a townhouse in Wayne last week for $599,900. Unit just had a $120,000 renovation with all new oak floors, 2.1 new baths and a new kitchen…etc. Last model match sale in good (but not renovated) condition closed 2/14/19 for $567,500. So far not a single showing request. Unit is a 3000 GLA end unit in High Point.

  20. Juice Box says:

    Pumps – 5.5% was the contribution rate until 2011 for Teachers out of their paychecks. That is until Sweeney and Christie passed the law to raise it to 7.5% over 7 years which just kicked in last July. The teachers are still grinding their axes over it.

    Fact is the State portion of the contribution is a subsidy to the towns and well has been underfunded for decades across administrations on the left and right side of the isle but one can argue the teachers and the towns did not pay their fair share either.

  21. The Great Pumpkin says:

    Isn’t this what you all wanted? This is how taxes will get fixed in this state. Det isn’t dead, right?

    Libturd…look me up in Costa Rica says:
    February 28, 2019 at 10:03 am
    The state is rapidly approaching the point where tax increases do not raise revenue. As Grim pointed out, raising the gas tax caused all of those out of state drivers who used to drive over the border to fill up to stop doing so. Though NJ drivers now pay more, the amount of tax revenue collected has not increased (in the short run). The same seems to be occurring with state income taxes. As the rates go up on individuals or corporations, the equation tilts in favor of leaving the state for greater savings.

    And all Murphy keeps doing is raising taxes mainly on quality of life issues that we existed just fine withou

  22. The Great Pumpkin says:

    Also, the 15 min wage is the only way to get out of this. You need to raise the wages, which increases tax revenue. You need to win this battle through inflation….it’s the only way.

  23. Libturd...look me up in Costa Rica says:

    I failed to mention as most of our country is experiencing a bit of a rebirth under MAGA economics. Even with all of these “wonderful” quality of life improvements, NJ resident’s perception of it’s state has hit all-time lows!

    https://www.monmouth.edu/polling-institute/documents/monmouthpoll_nj_022519.pdf/

    This state is rapidly becoming a sh1thole.

  24. The Great Pumpkin says:

    Avg teacher salary is below 70,000 in this high cost state. Good luck getting college graduates to take on debt for this tough job with no pension. They are criminally underpaid. Dealing with kids all day is no joke. It’s tougher than dealing with workers as a manager. A manager can fire and hire as please while a teacher must fix those broken students.

    At the end of the day, min wage will be 15 dollars (30,000 a year). It’s a spit in the face of teachers who have a job that is 10 times harder than a mcd’s manager, yet compensated almost the same on salary. No pension, and kiss education goodbye in this state and country.

    At the end of the day, let’s lower teacher salaries, get rid of their pensions, and lower our taxes. Let’s see the long-term impact of paying educators wages not that far above poverty. Will the tax savings make up for the losers now teaching our kids? Hope there is a lot of giving people out there willing to take a financial hit to educate the future. Based on human nature, I won’t hold my breath.

    “Fact is the State portion of the contribution is a subsidy to the towns and well has been underfunded for decades across administrations on the left and right side of the isle but one can argue the teachers and the towns did not pay their fair share either.”

  25. The Great Pumpkin says:

    I still believe in this state, but not as much as I used to. I mean I love this place and all it offers. It’s truly a special location.

    Unfortunately, people are selfish pricks. Most of the previous generations in this state lived high off the good life, running up the bill, and then bailing when the costs came due. Total piece of sh!ts. You voted for this, you pay for it. You don’t get to live the good life for 20 years in this state (80’s/90’s prob best place to live in the world), and then leave the bill for future generations. Just selfish… especially when they take all the money they made and leave for a cheap location. That’s the biggest dirtbag move you can pull. This place and its costs were the sole reason you made so much money….just sickening to take that and skip on the bill. I really am starting to hate people. So got damn selfish.

    Libturd…look me up in Costa Rica says:
    February 28, 2019 at 10:13 am
    I failed to mention as most of our country is experiencing a bit of a rebirth under MAGA economics. Even with all of these “wonderful” quality of life improvements, NJ resident’s perception of it’s state has hit all-time lows!

    https://www.monmouth.edu/polling-institute/documents/monmouthpoll_nj_022519.pdf/

    This state is rapidly becoming a sh1thole.

  26. Blue Ribbon Teacher says:

    Dealing with kids is fine in the classroom. It’s lunch duty that makes you want to quit your job because you have no idea who anyone is, you can’t hold them accountable, and they are not bound by the rules of the classroom.

  27. Juice Box says:

    Re: lunch duty

    Parents are up in arms at our grammar school (on social media) because the Principal has now instituted a new policy for lunch time, only one child at a time to visit the restroom (kids were doing who knows what in the restrooms in groups). They now form a line and fight over the pass to go pee etc…

    Back in the Bronx in my day Sister Mary would just knock your a*s*s out of you acted up in class, hall, bathroom etc.

  28. ExEssex says:

    10:00 sure you trust me to get you a beverage? You want that with deez nuts or without?

  29. The Great Pumpkin says:

    Imagine if you worked at Eastside or some other inner-city school. Your lunch duty is that teacher’s life all day and every day. I don’t wish that on anybody.

    Consider yourself fortunate that you are at a great school where kids are eager and prepared to learn. Not the case for most teachers. My hats go off to teachers, one of the hardest jobs in America. I wouldn’t even know what to do with a kid that is at the third-grade reading level in high school. Never mind a classroom full of them. Good luck being accountable with that.

    Blue Ribbon Teacher says:
    February 28, 2019 at 11:02 am
    Dealing with kids is fine in the classroom. It’s lunch duty that makes you want to quit your job because you have no idea who anyone is, you can’t hold them accountable, and they are not bound by the rules of the classroom.

  30. chicagofinance says:

    In related news……. client came in to talk with our tax director….. director told him you owe 94-55…… client thought she meant $94.55…… it took him about 10 seconds to comprehend he had to multiply by 100.

    30 year realtor says:
    February 28, 2019 at 8:56 am
    Currently have listings on market in Bergen, Passaic, Morris and Hunterdon. Several more to hit market in next 2 weeks. Those of you counting on a strong Spring market are going to be disappointed. The pulse of the market is weak.

  31. yome says:

    Most people getting Federal aid will not qualify

    Bring it on

    “Also, the 15 min wage is the only way to get out of this. You need to raise the wages, which increases tax revenue. You need to win this battle through inflation….it’s the only way.”

  32. Libturd...look me up in Costa Rica says:

    Utah. 3rd best schools in the nation. Average teachers salary, is $49,393. Utah ranks 35th in the nation for teacher pay, and 18th below the national average, according to data released by the Washington Post.

    Moral of the story. High pay does not equate to good teachers. School performance syncs up with the wealth of the families sending their kids to school. Every time!

    There is something else that I must point out, that I’ve noticed about teachers. And this is basing it on my kid’s schools in 14th ranked Glen Ridge. Teachers today are completely out of touch with how things work in the real world. I’ve worked at both small and large businesses. The majority of what they are learning is woefully out of date. Even the computer languages that these kids are killing themselves to pass AP exams on are dead. My kids taking CAD(D) now. They are using the same version I used back in college. There are so many additional tools out there that the teacher doesn’t know about. Heck, even his younger teachers don’t know what the hell a PDF is. But if we pay them 100K a year, I’m sure this will change everything.

    By the way, they are still teaching cursive. I rest my case.

  33. ExEssex says:

    Schools are troubled everywhere. Just wait though, once people opt out completely from the profession as I know very few teachers who actually enjoy their jobs. You will pay rates rise. The real $$$ is working in administration. Simple math. Management and worker bees

  34. The Great Pumpkin says:

    Can we apply this to the notion that WWII got us out of the depression? How can one claim that the destruction from war increased spending, getting the economy out of the depression, yet, believe in the broken window fallacy? It’s a contradiction. Economics is a joke, and it’s more partisan than science. This paradox I just illustrated is evidence of that.

    “We learned from Bastiat and Henry Hazlitt that broken windows and other forms of destruction can’t increase a community’s overall income, employment, and economic prosperity.”

  35. Joe says:

    Taxes are already high enough in NJ. Raising taxes will result in lower tax revenue.

    If the democrats try to raise taxes any farther, I will vote republican from now on.

    The democeats will lose power and the benefits of public works will get slaughtered.

  36. The Great Pumpkin says:

    In the end, are any economic systems able to produce growth without debt? Nope…..so nothing really works, it’s all in our heads. Our economies are run on debt. If debt didn’t exist, neither would our magical economies. No science behind them…. if so, show me a model that works long-term. All crash.

  37. The Great Pumpkin says:

    Lower cost of living, and mormons, dude! They are strict as hell with their children.

    Libturd…look me up in Costa Rica says:
    February 28, 2019 at 12:30 pm
    Utah. 3rd best schools in the nation. Average teachers salary, is $49,393. Utah ranks 35th in the nation for teacher pay, and 18th below the national average, according to data released by the Washington Post.

  38. The Great Pumpkin says:

    So you want to raise costs? Correct?

    In the end, you miss the point of a public school system. It’s not to be on the cutting edge, that costs way too much money. It’s to learn how to socialize, organize, critically think, follow directions, communicate, work with others, learn how to work hard, compete, and learn the basics of math, science, english, and history.

    “There is something else that I must point out, that I’ve noticed about teachers. And this is basing it on my kid’s schools in 14th ranked Glen Ridge. Teachers today are completely out of touch with how things work in the real world. I’ve worked at both small and large businesses. The majority of what they are learning is woefully out of date. Even the computer languages that these kids are killing themselves to pass AP exams on are dead. My kids taking CAD(D) now. They are using the same version I used back in college. There are so many additional tools out there that the teacher doesn’t know about. Heck, even his younger teachers don’t know what the hell a PDF is. But if we pay them 100K a year, I’m sure this will change everything.”

  39. 3b says:

    There are those of us who were warning about NJ twenty years ago. We urged caution and not to have towns spend themselves into oblivion. We were shouted down and voted down! Eventually towns will be forced to merge and nothing you can do about it.

  40. ExEssex says:

    One note from here on Education. Careful folks. Lots of really good NJ schools will crash and burn once NJ decides to establish a Calif-like Prop 13 approach. It won’t kill the test factories, but it will kill all of the sports and extras and parents who want that for their kids will have to reach into their own pockets and donate. It’s really played hell with the once great schools are here. Oh, that and a host of other factors. Schools everywhere are suffering. Believe you me. It aint pretty.

  41. The Great Pumpkin says:

    3b,

    You nailed it. They wanted all the golden perks. Didn’t want to raise taxes (selfish/human nature), but wanted the golden goods. So what did they do? They borrowed, knowing they would not be there to pay the bill. Scumbags. Send the bill to Florida and Carolinas, no one should be able to get away with running up costs and intentionally bailing when the cost comes due.

    If your kid was educated here, then you owe. If your business became fantastically successful on our education and infrastructure system, then you owe. Who else should pay for this besides the people benefitted from it?

    Also, other states should reimburse nj for the cost of educating their workers and supporting their college system. Why should we pay for all the costs and they get the benefits? Why? This is beyond wrong.

    Nj gives so much to this nation, yet everyone takes a dump on it. So wrong.

  42. No One says:

    The idea that WW2 or FDR’s New Deal pulled the US out of the depression is a myth created by leftist intellectuals and spread by their fans in public school history books. Recited and regurgitated until almost everyone believed it. Along with the idea that FDR was a great president (a genuinely tyrannical guy who repeatedly pushed unconstitutional rules and regulations, and then tried to increase the number of supreme court judges, to “pack the court” with his pals who wouldn’t limit his power, a move so scary that even his own party blocked him)
    Much like the causes of the 2008 financial crisis has been turned into a pat leftist mythology, for most people.
    And pumpkin, as village idiot, I’d definitely not expect you to see through popular delusions.

  43. The Great Pumpkin says:

    Essex,

    Good education costs money. Try finding a private school that is cheap and successful.

    You get what you pay for. When you think about this, 20,000 per child is not bad. I had to pay 16,000 for private pre-k.

  44. The Great Pumpkin says:

    Now question how the economy was so successful under a high union labor participation rate and under a high tax system.

    I give up trying to make sense of it.

    No One says:
    February 28, 2019 at 1:09 pm
    The idea that WW2 or FDR’s New Deal pulled the US out of the depression is a myth created by leftist intellectuals and spread by their fans in public school history books. Recited and regurgitated until almost everyone believed it.

  45. The Great Pumpkin says:

    Just wanted to comment further on this.

    Are you taking the position that you don’t need high pay to get results? If so, then why are we paying anyone millions of dollars a year? If we ask the teachers to take low pay and get results, then why do we not do the same for other fields?

    Of course, I know that high pay leads to the best talent. I just don’t understand why we forget this with education?

    Libturd…look me up in Costa Rica says:
    February 28, 2019 at 12:30 pm
    Utah. 3rd best schools in the nation. Average teachers salary, is $49,393. Utah ranks 35th in the nation for teacher pay, and 18th below the national average, according to data released by the Washington Post.

  46. ExEssex says:

    1:o9 we paid $40k a year for Day School for two years as well. I prefer a good public school.

  47. Blue Ribbon Teacher says:

    Heck, even his younger teachers don’t know what the hell a PDF is. But if we pay them 100K a year, I’m sure this will change everything.

    I’m pretty sure the younger teacher that doesn’t know what a PDF is making 100k a year. They have about 15 to 20 years before they’ll ever sniff that.

  48. Blue Ribbon Teacher says:

    Consider yourself fortunate that you are at a great school where kids are eager and prepared to learn. Not the case for most teachers. My hats go off to teachers, one of the hardest jobs in America. I wouldn’t even know what to do with a kid that is at the third-grade reading level in high school. Never mind a classroom full of them. Good luck being accountable with that.

    I’ve covered the full spectrum. Kids are kids. I can deal with any group of kids in the classroom.

  49. Blue Ribbon Teacher says:

    This problem can potentially solve itself. The school population is poised to be half of what it is now in about 10 years. This is based off of how many people are having kids and the age that they are having them. Funding schools may become easier.

  50. Grim says:

    What’s a Day School? Is that just a more pretentious way of saying school?

  51. 1987 condo says:

    Lol, I guess vs Boarding school! Day school is for the regular rich

  52. Fast Eddie says:

    Artisan Day School… 10K more than a regular day school. ;)

  53. The Great Pumpkin says:

    Time to pay up for previous generations wants and needs.
    Pu$$ies wanted all this, but couldn’t raise taxes to pay for it.
    Then they stole from the pension system for 20 years to avoid raising taxes.

    https://patch.com/new-jersey/wayne/s/gmwqt/big-changes-to-nj-tolls-roads-possible-to-fix-budget-woes?utm_source=alert-breakingnews&utm_medium=email&utm_term=weather&utm_campaign=alert

  54. JCer says:

    Pumpkin, you are in one of the heaviest taxed places in the country. Raising top tax brackets isn’t working. The only way to raise the revenue is match NY by taxing from the first dollar at 4%, no more 1% tax bracket. If they want to raise taxes they need to go after the immobile being the poor and middle class, people who need jobs.

  55. Libturd...look me up in Costa Rica says:

    They should sell the entire fukcin state. The private sector could probably run it for 1/4 the cost. Lord knows no company beholden to shareholders would pay 50 million dollars for a salt shelter when the same function could be performed by a few tires and a large tarp.

  56. Libturd...look me up in Costa Rica says:
  57. Joe says:

    “Time to pay up for previous generations wants and needs”

    It is time to cut their benefits.

  58. The Great Pumpkin says:

    Just come up with a fat tax. Enough fat fu!ks to pay the debt off. Incentivize them to take care of themselves and lower future costs that go to paying to keep their fat a$$es alive.

    Why should people that take care of themselves be left with the cost for taking care of all these people that beat up their body? Talk about the ultimate form of soc!alism.

  59. The Great Pumpkin says:

    The cost of healthcare is the biggest problem in America. Want to lower the cost of medical benefits, then make the source (over weight/obesity) of the cost pay up. Why should heathy people who sacrifice to take care of themselves be stuck with the bill for others who don’t?

  60. The Great Pumpkin says:

    So let’s start taxing unproductive behaviors. Let’s start with these gems.

    1. You fail any class, you have to pay back the cost of said class. You don’t get go to school and do nothing all day but fail.

    2. If your child is reading below grade level, you will pay 10% higher tax till they are reading on grade level(unless they have a disability). Apply this also to math.

  61. 3b says:

    Blue ribbon I have been saying that for some time now. Less kids or no kids is how it is going. No need to hurry out to the suburbs as I have also been saying. As well
    many are skipping the suburbs entirely and staying put. I see it I. Manhattan.Jersey City and Harrison as well as Hoboken.

  62. The Great Pumpkin says:

    Make taxes follow costs. Make a new federal tax reflective of the cost of your education.

    So if you were educated in nj, you pay a percentage of your pay not to the state you live in, but the state you were educated in. You don’t get to bail on that investment made with you by said education system.

  63. The Great Pumpkin says:

    I really like this idea. If you want lower taxes, then move to a state with much cheaper education costs. You will have lower taxes for life. If you want a better education system, then move to that state and pay a higher tax THE REST OF YOUR LIFE to support said education system. Your choice.

    You don’t get to raise your kid in the costlier education system and then get to bail on the costs of maintaining that system, being a total taker under this scenario.

  64. xolepa says:

    Late comment of the day:

    If the state pushes its pension obligation to municipalities, watch out!

    By law, states cannot declare bankruptcy. But municipalities surely can.

    BTW, they all know that.

  65. The Great Pumpkin says:

    “Young Americans have come to see social!sm as a scheme to redistribute wealth more equitably, taxing the rich at higher levels to pay for services like universal health care. Conveniently left out is the most dangerous part of the ideology: state control of the means of production—or as I see it, turning all enterprise into the Department of Motor Vehicles or the Department of Veterans Affairs.”

    https://apple.news/AbL9ivN4CTfKNOzfeE3xZ6g

  66. The Great Pumpkin says:

    I didn’t even think about that. Bankruptcy wave is coming to a town near you…

  67. Texting says:

    Was looking at a new house in my town. Listed for 759 since July. Sold in Oct for 720.. Someone moved in. Now on market for 759…LOL. Must have gotten sticker shock with new tax laws and property tax hit..

    Same lucky realtor. Will get commission twice on same house in 4 months..

  68. AG says:

    Pumpkin,

    You really are a retard. All forums need them to keep them entertaining.

    Let me school you son.

    Man made global warming is a fraud. I know you spent a lot of your parents money and on your education but too bad.

    Pumps, the real world is a lot uglier than the make believe bs you believe in

  69. Bystander says:

    I recommend all New Jerseyans just dust off the Floyd albums. Putting them on again after a numbers of years reinvorgates the acceptance that it is all meaningless and just grab your ankles.

    Somehow this one feels like Blumpkin.

    Ticking away the moments that make up a dull day (he obviously is not working hard)
    Fritter and waste the hours in an offhand way. (posting drivel non-stop)
    Kicking around on a piece of ground in your home town (never left NJ)
    Waiting for someone or something to show you the way. (his constant economist bl*wing)

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