Blame the Boomers

From The Atlantic:

The Boomers Ruined Everything

The Baby Boomers ruined America. That sounds like a hyperbolic claim, but it’s one way to state what I found as I tried to solve a riddle. American society is going through a strange set of shifts: Even as cultural values are in rapid flux, political institutions seem frozen in time. The average U.S. state constitution is more than 100 years old. We are in the third-longest period without a constitutional amendment in American history: The longest such period ended in the Civil War. So what’s to blame for this institutional aging?

One possibility is simply that Americans got older. The average American was 32 years old in 2000, and 37 in 2018. The retiree share of the population is booming, while birth rates are plummeting. When a society gets older, its politics change. Older voters have different interests than younger voters: Cuts to retiree-focused benefits are scarier, while long-term problems such as excessive student debt, climate change, and low birth rates are more easily ignored.

But it’s not just aging. In a variety of different areas, the Baby Boom generation created, advanced, or preserved policies that made American institutions less dynamic. In a recent report for the American Enterprise Institute, I looked at issues including housing, work rules, higher education, law enforcement, and public budgeting, and found a consistent pattern: The political ascendancy of the Boomers brought with it tightening control and stricter regulation, making it harder to succeed in America. This lack of dynamism largely hasn’t hurt Boomers, but the mistakes of the past are fast becoming a crisis for younger Americans.

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

139 Responses to Blame the Boomers

  1. grim says:

    The analysis on the impact of zoning regulation is brilliant.

  2. The Original NJ ExPat says:

    Yeah, the author is bright but he is very young and Washington DC wonky. Plus, who listens to somebody who attended Transylvania University?

    https://www.linkedin.com/in/lyman-stone-9668141a/

  3. 3b says:

    Ex well we can argue that the ivy leaguers almost destroyed the country with the financial crisis.

  4. The Great Pumpkin says:

    I agree with this. Sorry, I don’t want to deal with a bunch of con artists out there pretending to be someone they are not. Regulations came out for a reason, it’s amazing how quick people forget this.

    Go ahead, get rid of accountability. Let any plumber come work on your house, you will just sell the future problem to the next guy, right? I’m sorry, you have to have regulations or human nature goes to work destroying everything in its path.

    “But, of course, Boomers didn’t only make rules that nudge young people out of homeownership. They also made new rules restricting young people’s employment. Laws and rules requiring workers to have special licenses, degrees, or certificates to work have proliferated over the past few decades. And while much of this rise came before Boomers were politically active, instead of reversing the trend, they extended it.”

  5. The Great Pumpkin says:

    F’k off. Attacking zoning. Let’s just have the wild west. Work your whole life for an asset in which the price can be destroyed because someone can build whatever the f’k they want next to your house. F’k out of here. Takes the stability out of real estate pricing and will destroy the market. Who the hell would invest so much time and money into land when the surroundings, which make this land valuable, can be changed overnight? Enough with this nonsense. Zoning has a role, stop focusing on the idea that it’s responsible for driving up pricing. Humans drive up pricing. Humans are the ones that feel the need to pay more to be in a certain location. That’s the bottom line.

    “Today, strict land-use rules—whether framed as rules about parking, green space, height limits, neighborhood aesthetics, or historic preservation—make new construction difficult. Even as the American population has doubled since the 1940s, it has gotten more and more legally challenging to build houses. The result is that younger Americans are locked out of suitable housing. And as I’ve argued previously, when young people have to rent or live in more crowded housing, they tend to postpone the major personal events marking transformation into settled adulthood, such as marriage and childbearing.”

  6. Blue Ribbon Teacher says:

    There are plenty of shitty plumbers out there with regulations. I have 2 guys I use and their reputation is all by word of mouth. My favorite guy always has a 2 month backlog.

  7. The Great Pumpkin says:

    Most Americans agree that the ultrarich should pay more in taxes. But this is often dismissed as self-interest: Tax reform is cutting my taxes, and raising yours.

    You know something is seriously rotten about our economy, though, when even the billionaires argue that they should be taxed more.

    This appeal to all the 2020 presidential candidates, released in a letter Monday, was signed by moguls who amassed their own wealth, like Facebook co-founder Chris Hughes, and those who inherited it, like Abigail Disney.

    The problem, they all agree, is that in the face of profound inequality, huge sums are sitting around untaxed by the federal government, in assets like stocks, bonds, yachts, cars and art.

    Like a $590 million yacht with a basketball court, owned by Hollywood’s richest man. Or a 14-foot tiger shark preserved in formaldehyde, worth $8-10 million, owned by the hedge fund manager who inspired the series “Billions.” You get the idea.

    In general, we pay taxes when we earn or spend money, but not on wealth itself. As a result, the richest 0.1 percent will pay the equivalent of 3.2 percent of their wealth in taxes this year, the letter notes, compared with 7.2 percent paid by the bottom 99 percent.

    “We are writing to call on all candidates for President, whether they are Republicans or Democrats, to support a moderate wealth tax on the fortunes of the richest 1/10 of the richest 1% of Americans — on us,” the co-signatories wrote. “The next dollar of new tax revenue should come from the most financially fortunate, not from middle-income and lower-income Americans.”

    https://www.nj.com/opinion/2019/06/you-pay-taxes-on-your-house-why-shouldnt-a-rich-guy-pay-them-on-his-8-million-preserved-shark-editorial.html

  8. Mächïne says:

    The Democratic presidential field is littered with proposals to ease the affordability crunch plaguing America’s most prosperous cities. A bill offered by Sen. Kamala Harris would create refundable tax credits for anyone making less than $100,000 and paying more than 30% of their income in rent, while Sen. Cory Booker would tie federal community development grants to more relaxed zoning regulations.

    Rapidly escalating rents are even melting a decades-long aversion to having government itself build public housing, rather than incentivizing developers through convoluted tax breaks. Sen. Elizabeth Warren’s plan, for example, would distribute $450 billion to states over 10 years with the goal of building or preserving 3.2 million affordable housing units.

    Missing in much of the debate, however, is context on the scale of the affordability problem, who faces the worst of it, and what kinds of needs are expected to crop up in the future.

    For more than 30 years now, Harvard’s Joint Center for Housing Studies has put out a comprehensive report on those questions. Their latest edition, released Tuesday, finds that while the squeeze on renters actually eased slightly in 2018, the United States is still producing far fewer housing units than are needed to meet demand.

    Here’s the reality of the housing market in America in 2019:

    Construction slowed down in 2018 after a couple productive years in 2016 and 2017. America needs about 1.5 million new housing units per year, or about 260,000 higher than in 2018, the Joint Center estimates.
    The Joint Center predicts there will be 400,000 new renters per year going forward. That’s after the total number of renters declined for two straight years as household balance sheets finally improved enough to allow people to buy homes.
    The share of people who spend more than 30% of their income on housing has decreased overall since its peak in 2010. That decline has mostly come among homeowners, in part as a result of low mortgage interest rates and strong income gains. Renters continue to bear a high cost burden, with 47.4% paying more than 30% of their income on housing. The number of units priced lower than $800 per month has shrunk by more than 4 million since 2011, in inflation-adjusted terms.
    Home prices are still rising, but at a slower pace. But that doesn’t mean housing is cheap. Adjusted for inflation, housing prices are now only 7.6% below their housing-bubble high.
    Millennials are starting to get married and wanting to buy homes, but they have lower incomes and higher debts than their parents did as young people. And the housing market isn’t producing enough smaller, lower-priced homes to start them out in. Homes under 1,800 square feet made up only 22% of the new housing stock — 10 percentage points less than two decades ago — and construction of multifamily condos has been moribund since the recession.
    The population experiencing homelessness decreased by 87,000 from 2008 to 2018, in part because of public commitments to policies that house people first without pre-conditions related to substance abuse or job training. But the homelessness rate started to tick up again in 2018, driven by unsheltered homelessness, or people living on the street rather than with friends or relatives or in shelters. The problem is particularly bad in West Coast cities; the number of unsheltered homeless people grew 25% in California from 2014 to 2018, to 89,500.
    There are fewer people living below the poverty line now than there were during the recession, but that figure is still 35% above where it was in 2000, according to the Census Bureau. Poverty has also become more concentrated in certain neighborhoods.

  9. The Great Pumpkin says:

    Warren is right on this one. Also, do you see the capital wasted? 10 million on a stuffed shark? What a waste of capital..

    “This isn’t about class warfare; it is about a moral, economic and patriotic duty, they argue. Income inequality has grown so extreme that even the uber-rich are taking a stand. It demands a new aggressiveness on the part of government, too.

    President Trump promised he would help the middle class more than the rich, but in reality, his tax plan did the exact opposite. It’s like being told you will “transform your future” at Trump University, when all you get is a photo-op with a cardboard cutout of Trump, for $60,000.

    Democrats, on the other hand, have a torrent of proposals to address economic injustice, including a plan put forth by Elizabeth Warren to tax wealth. Bernie Sanders, Pete Buttigieg, Beto O’Rourke and others have also come out in support of a tax on the wealthiest Americans.

    “If you own a home, you’re already paying a wealth tax—it’s called a property tax,” Warren argues. “I just want the ultra-rich to pay a wealth tax on the diamonds, the yachts, and the Rembrandts too.”

    They tried this in Europe, and rescinded the wealth tax because it was too difficult to enforce. The rich wriggled out of loopholes, hoarding their money in off-shore accounts, for instance. But Warren says her plan takes a lesson from that and includes stricter anti-avoidance measures.”

  10. The Great Pumpkin says:

    This is the bottom line, the market is not producing smaller lower priced homes. Every flip becomes a more expensive home. Nothing is produced for the little guy because of one thing….profit. So let’s blame zoning and not the market itself. Private sector free market can do no wrong, right?

    Upper market is the only thing being produced. When a developer goes to build in nj, they use the affordable housing law to push more luxury higher tier housing. How much sense does that make? Oh, I will build a certain amount of affordable units if you let me flood the market some more with this more profitable higher tier housing. God forbid if the market is begging for lower tiered housing.

    “Millennials are starting to get married and wanting to buy homes, but they have lower incomes and higher debts than their parents did as young people. And the housing market isn’t producing enough smaller, lower-priced homes to start them out in. Homes under 1,800 square feet made up only 22% of the new housing stock — 10 percentage points less than two decades ago — and construction of multifamily condos has been moribund since the recession.”

  11. 3b says:

    Housing became so expensive because cheap money inflated the value then it collapsed and the Fed came in and put a floor out under it. Now rates will be lowered again to try and inflate even more. This in turn drove up rental prices. This madness created by the Fed.

  12. chicagofinance says:

    I almost slammed my fist through the computer screen…….

    CHECK OUT THE FIRST TWO FAQ’s!

    WTF IS THIS?

    https://undergrad.admissions.columbia.edu/ask/faq/question/2501

  13. Grim says:

    Harvard Joint Center has always been smoking somethingp

  14. 3b says:

    Chgo and just another reason people are pissed! Its simply not fair.

  15. JCer says:

    First off a wealth tax is blatantly unconstitutional. Next it is an administrative and logistical nightmare, how do you value the assets on an annual basis? Those of us with significant assets could get hit, what if they are illiquid? Potentially this could cause asset sales and remember, today it is billionaires how long before you are paying a wealth tax? Once you give the power to tax it is only a matter of time before it creeps lower and lower as the government seeks more revenue.

    You miss the point, the 10 million dollar stuffed shark isn’t dead money. That cash was exchanged for the item, it has no impact on the money supply whatsoever.

    You all live in NJ, think about this before 1976 we had no income tax. It was enacted to reduce property taxes……last I checked property taxes are still some of the highest in the country, I know I’m north of 30k. Connecticut did the same in 1991. Honestly the tax dollars are never enough, an dnew taxes seem to only prompt even more taxes.

  16. leftwing says:

    “Yeah, the author is bright but he is very young and Washington DC wonky. Plus, who listens to somebody who attended Transylvania University?”

    Smart kid, well written, better than most mainstream news broadcasts. I’m not going to beat him up for his undergrad institution. Good for him.

    On the point of the article, a more nuanced dive would be interesting. Grouping all the boomers together as the proactive cause of anything is suspect. Giving boomers collectively ‘credit’ for the foresight to limit supply of anything (houses, plumbers, etc) to drive up prices is ludicrous. The cohort is massive and diverse, and for the most part the boomers I know have all the foresight of a common housefly.

    More interesting, I would suggest that the outcomes described resulted more from overall boomer apathy paired with tolerance for increasingly marginal positions of a vocal minority and an abdication of problem solving to the government.

    Micro-example, I’ve outlined the absolutely ridiculous zoning codes we have in my town that have strangled any type of development and especially reasonably priced development.

    The proponents of this code are not your average boomer…these guys are sitting around their backyard firepits downing $6 a can NEIPAs.

    The proponents are a vocal group of older purple haired ladies in duck boots looking for the town to ‘protect’ every imaginable life form and geologic formation.

    They are a distinct minority yet have shut down more projects than I can count (from a simple SFH addition by a homeowner to brown field rezoning). There is little opposition to them – apathy – and the most common response is well, the town deals with it. Abdication.

    The years I was on our Board of Adjustment there was a sad, running joke about the ‘magic turtle’. If it looked like an opposed project was going to pass the duck boot purple hairs ‘found’ evidence of a protected turtle on the property. Shut everything down. We on the Board were convinced it was the same animal caged in someone’s backyard they whipped out when their agenda looked dicey.

    Nobody cared enough to pursue…

    The landowner who just lost 4 acres which are now useless and undevelopable screamed bloody murder…to an empty room as everyone else was around those fire pits.

    Tolerance of marginal positions filling the vacuum of apathy enabled through government.

  17. leftwing says:

    Why should wealth EVER be taxed?

    by the time dollars are actually turned into wealth they have been already taxed at least once and often several times.

    Government and their citizen dependents are leeches. Parasites on the society of productive citizens.

  18. 3b says:

    Jcer that is it in a nut shell. It will never be enough. We want more we want more!!

  19. leftwing says:

    Re: Columbia

    Chi, yank all their Federal funding. Top to bottom, student loans, any contracts with any Fed agency, etc.

    If your institution is going to blatantly break the laws of the country and we are gracious enough to not prosecute you at the very least we won’t fund you.

    Can you possibly imagine the uproar if there were a FAQ by an employer of “Should I apply for employment if I’m transgender” and the answer were “No”?

    It would be massive news and at SCOTUS with the baker.

    But, Columbia can break laws based on persons’ backgrounds while lesser mortals aren’t allowed.

  20. The Great Pumpkin says:

    Did costs stay the same? Did the previous generations not borrow money instead of raising taxes? Now you have debt cost that wasn’t previously there. You paint the picture that they are just raising taxes for no reason, but costs go up. Govt didn’t issue all these bonds and take them out themselves, the people voted on it. The PEOPLE DROVE UP COSTS, lived it up, and then try to run to florida to escape the cost…scumbags. For every elderly individual complaining that they can’t afford their taxes, well, you made your bed, now you sleep in it. I wish…they just go to florida.

    “You all live in NJ, think about this before 1976 we had no income tax. It was enacted to reduce property taxes……last I checked property taxes are still some of the highest in the country, I know I’m north of 30k. Connecticut did the same in 1991. Honestly the tax dollars are never enough, an dnew taxes seem to only prompt even more taxes.”

  21. leftwing says:

    “You all live in NJ, think about this before 1976 we had no income tax. It was enacted to reduce property taxes……last I checked property taxes are still some of the highest in the country, I know I’m north of 30k. Connecticut did the same in 1991. Honestly the tax dollars are never enough, an dnew taxes seem to only prompt even more taxes.”

    I bet CT hates itself for enacting those taxes…I’m old enough to remember when it occurred…work colleagues were starting to look toward settling down, the relative tax rates of Westchester, NJ, and CT were all the talk. CT was zero. Many former colleagues are well ensconced there now, having raised families after choosing it based on no income tax. No income tax was a huge boon to that state.

    Related, there was a great interview of Rick Scott on the Morning Squawk on CNBC yesterday. He chewed apart and spit out the hosts trying to rail him on the ‘taking more than you pay’ to the Feds.

    He rolled out one stat, I haven’t confirmed outside of his interview, that a Manhattanite earning $1m would save $230k in total taxes by moving to FL. Sounds a bit high so would like to see the derivation, but have no reason to doubt his data.

  22. The Great Pumpkin says:

    It’s an economic system, not an ideology. The economic system can’t function correctly when most of the capital is either at the top or bottom. Right now, it’s all at the top. It’s basically the exact opposite of what happens when all the money is in the workers hands as opposed to the owners(when you overpay workers and give them too much of the profit pie), the owner goes broke and can’t feed the demand as the economic system collapses.

    leftwing says:
    June 25, 2019 at 10:50 am
    Why should wealth EVER be taxed?

    by the time dollars are actually turned into wealth they have been already taxed at least once and often several times.

    Government and their citizen dependents are leeches. Parasites on the society of productive citizens.

  23. The Original NJ ExPat says:

    Q. Why did the Pumpkin cross the road?
    A. To play ping pong!

  24. Fast Eddie says:

    LOL!!

  25. The Original NJ ExPat says:

    Knock knock.
    Who’s there?
    Pumpkin.
    Pumpkin who?
    Knock knock.
    Who’s there?
    Pumpkin.
    Pumpkin who?
    Knock knock.
    Who’s there?
    Pumpkin.
    Pumpkin who?
    Knock knock.
    Who’s there?
    Orange.
    Orange who?
    Orange you glad I didn’t say pumpkin again?

  26. The Original NJ ExPat says:

    Q: Why do pumpkins do so bad in school?
    A: Because they had all their brains scooped out.

  27. The Original NJ ExPat says:

    Q: Why was Cinderella not very good at softball?
    A: Because her coach was a pumpkin.

  28. The Original NJ ExPat says:

    Q: Who helps little pumpkins cross the road safely?
    A: The crossing gourd at the ping pong palace.

  29. Mächïne says:

    Expat is the kind of guy who shaves his junk so it looks bigger on tinder.

  30. 3b says:

    Wasteful reckless spending is what is destroying this area and the monster has to be fed with more taxes for more wasteful spending.

  31. The Original NJ ExPat says:

    Q: Why wouldn’t the teacher bring the class to the pumpkin patch?
    A: It was in a seedy part of town with lots of ping pong gangs.

  32. The Original NJ ExPat says:

    Nah. I just pose with your daughter working my Johnson. She has very small hands.

    Expat is the kind of guy who shaves his junk so it looks bigger on tinder.

  33. The Original NJ ExPat says:

    Speaking of small hands…

    Q: Why do pumpkins sit on people’s porches?
    A: They have no hands to knock on the door.

  34. The Original NJ ExPat says:

    Thank you, thank you.

    Like Pumpkin, I’ll be here all week.

  35. D-FENS says:

    Pumpkin is here on weekends too

  36. D-FENS says:

    Q: What do you call a stoner flying through the hallways in college?
    A: Enjointment.

    Grim says:
    June 25, 2019 at 10:32 am
    Harvard Joint Center has always been smoking somethingp

  37. Bystander says:

    Chi,

    So many dirty secrets going on at Ivies and other institutions. Columbia’s is very simple. Look up General Studies for non-trad students. 1/3 of Columbia undergrads belong to it. Big scam is that GS college gets almost nothing from Columbia’s overall 11b endowment. The average GS student gets $8k a year grant while students across Columbia’s other undergrad colleges get $53k grant. You now know who is paying for their self righteous immigrant sympathy program. Complete scam.

  38. D-FENS says:

    Tariffs are just the latest reason for tech companies to move out of China
    “Some of this is a long time coming,” said one international trade expert.

    https://www.nbcnews.com/business/business-news/tariffs-are-just-latest-reason-tech-companies-move-out-china-n1020951?cid=sm_npd_nn_tw_ma

  39. D-FENS says:

    Trump signed the healthcare transparency EO. We’ll see if it works. I expect ‘healthcare’ companies to go all in for Democrats in 2020.

    https://www.wsj.com/articles/trump-order-would-give-consumers-more-information-on-health-care-prices-11561384725

    President Trump on Monday pushed for greater price disclosure in health care, signing an executive order that could make thousands of hospitals expose more pricing information and require doctors, health clinics and others to tell patients about out-of-pocket costs upfront.

    While President Trump has pledged repeatedly to take on health costs, the signing of the executive order unleashes coordinated efforts from multiple agencies to pursue the goal. It calls for the Department of Health and Human Services to issue a rule within two months that could require hospitals to publicize information on their negotiated rates with insurers for common procedures.

    In comments Monday at the White House, Mr. Trump said the order would fundamentally change the health-care marketplace. “There’s frankly no rhyme or reason for what’s been happening for so many years,” he said, adding that the “lack of price transparency has enriched industry giants greatly.”

    Industry groups are mobilizing to fight back, saying any requirement that hospitals and insurers disclose negotiated rates would go too far. Lawsuits could be likely, meaning any action could be delayed until after the presidential election. They also said the order lacks many specifics, raising questions about how aggressive the administration will actually be in exposing the murky realm of health-care pricing.

    “This effort is all about 2020,” said Tom Nickels, executive vice president of the American Hospital Association, which opposes the plan. “This is their effort to come up with a health-care agenda for 2020.”

    President Trump’s order reflects a deeper worry over the escalating cost of health care animating voters and shaping the presidential election. More than two-thirds of people say that reducing health-care costs should be a top priority for the president and Congress this year, according to a January survey by the Pew Research Center.

  40. D-FENS says:

    the above story should be huge, but given how many drug commercials there are on Fox, CNN and MSNBC etc., it’s no wonder there’s little reporting on it.

  41. Bystander says:

    Why? Another empty EO held up in courts.At some point the Orange fool has to attempt legislation but he is incapable bc massive ego and enemy approach to everyone.

  42. Mächïne says:

    Expat thinks just cause he was drunk and it was just buttsex, he’s not gay.

  43. Fast Eddie says:

    Why? Another empty EO held up in courts.At some point the Orange fool has to attempt legislation but he is incapable bc massive ego and enemy approach to everyone.

    The big-eared narcissist claimed to have a pen and a phone. He said he didn’t need congress.

  44. leftwing says:

    “Like Pumpkin, I’ll be here all week.”

    He is truly a stupid fcuk, 11:15a.

    The idea that he has anything to do with financial or business analysis is absolutely laughable.

    Scariest place I can think of is inside of his skull.

  45. Fast Eddie says:

    leftwing,

    It not a real poster. It’s someone posing as legit and is feeding you guys.

  46. 3b says:

    Fast he is real.

  47. Fast Eddie says:

    3b,

    You mean a real fake? :) How can someone post 14 or 15 hours a day and have a real job?

  48. leftwing says:

    “It not a real poster. It’s someone posing as legit and is feeding you guys.”

    I have not engaged him directly in over two years. Waste of time.

  49. 3b says:

    Fast: That I don’t know. But he is real in that he exists.

  50. 3b says:

    Left I have been two months now on ignore after previously trying and failing. The last bout I had with him was it for me. Plus I promised Joyce.

  51. homeboken says:

    “How can someone post 14 or 15 hours a day and have a real job?”

    I asked him this and his direct answer was – “I am a fast typist”

  52. Bystander says:

    C’mon Ed. BO passed ARRA, ACA and Dodd Frank. You may not like him but he passed them through Congress. Dumpy has control of both and can only pass Paul Ryans tax cut plan which has produced no significant growth outcomes for middle class. BO is light years ahead of burnt orange clown politically.

  53. Economy says:

    NJ is 47th best state to do business or 4th worst. Take your pick.

    https://chiefexecutive.net/2019-best-worst-for-states-business/

    PS – don’t mess with Texas.

  54. The Original NJ ExPat says:

    Essex,

    You’re never gonna let me forget that I didn’t give you the reach around you expected, are you? It’s not like I sent any pictures to your wife…as far as you know.

    Expat thinks just cause he was drunk and it was just buttsex, he’s not gay.

  55. 3b says:

    Economy now you’ve done gone and dun it!!

  56. Libturd, seen crazy things done with ping pong balls. says:

    “I expect ‘healthcare’ companies to go all in for Democrats in 2020.”

    Always have. Always will.

  57. The Great Pumpkin says:

    Funny, the state’s that are blue state economic powerhouses are all ranked last. California dead last. Red states rank at the top.

    This list made by lefty or d?

    Economy says:
    June 25, 2019 at 2:17 pm
    NJ is 47th best state to do business or 4th worst. Take your pick.

    https://chiefexecutive.net/2019-best-worst-for-states-business/

    PS – don’t mess with Texas.

  58. The Original NJ ExPat says:

    Q: What are gourds afraid of?
    A: Things that go Pumpkin the night.

  59. The Original NJ ExPat says:

    Q: What do adventurous pumpkins do for fun?
    A: Go bungee gourd jumping.

  60. The Original NJ ExPat says:

    Q: What do you call a gourd’s uneducated family members?
    A: Dumb Pump-kin.

  61. The Great Pumpkin says:

    Is this why taxpayers help nfl owners build their money making stadiums? Is this why business must be bribed, I mean incentivized to start a business in said location?

    “Government and their citizen dependents are leeches. Parasites on the society of productive citizens.”

  62. Mâchîne says:

    2:37 you sir are a selfish lover.

  63. Fast Eddie says:

    BO is light years ahead of burnt orange clown politically.

    You’re right. He pulled off a one trillion dollar heist to pay his cronies. That does take a shit load of skill.

  64. Bystander says:

    Ed,

    Unfortunately it is pretty easy for any president to hand out a trillion. Not much skill at all.

    Did you see new ABB release from Fillmore west 71? Looks good.

  65. Blue Ribbon Teacher says:

    Expat, who are you kidding, he’ll be here all summer AMIRITE?

  66. The Original NJ ExPat says:

    Of course he will. Do you want to know how pathetic Nimfy is? He has a facebook page, but he doesn’t even have any pretend friends over there either! His last post was over 2 years ago and not a soul has ever even wished him a happy birthday. Sad as it is to think of, the abuse we give him here is absolutely all there is separating him from a life of perpetual solitary confinement.

  67. Màchíne says:

    7:13 not a stalker.. nope.

  68. Fast Eddie says:

    Bystander,

    Haven’t seen the latest ABB release yet. I’ll look into that one. I’ve been hooked on Alter Bridge and Mark Tremonti for about 3 weeks straight now. Holy shit, Myles Kennedy has some voice and Tremonti’s guitar work is blowing me away.

  69. Fast Eddie says:

    Bystander/Essex and anyone else…

    This is a sample of what has been pumping me up as I go through the work day. Listen with a good set of ear buds/phones. I’ve listened to every one of their studio albums in the last few weeks:

    https://www.youtube.com/watch?v=digo1sQ11bo&list=PLPBtWfywMVNOtlEdRihfmJJUrifjaDGzy&index=1

  70. Juice Box says:

    Ridiculous – when you bought your home near to a 141 year old Jersey Shore Club you knew about the noise.

    https://www.nj.com/monmouth/2019/06/busy-jersey-shore-bar-in-quiet-neighborhood-could-lose-its-license.html

  71. leftwing says:

    Sea Girt has changed dramatically over the last 10-15 years.

    Part of the evolution, used to have the Yankee Clipper and the Warren, gone.

    Sea Girt beach, used to have music and open beers, many of the houses in town were group seasonal rentals. Now those 20 something renters of decades ago (of which I was one) are 50+ year old lawyers, doctors, and bankers with $2.0m+ new-ish knockdowns of the older $700-800k basic shore summer stock and don’t want the PH as it was.

    God, I remember Sunday nights there, best crowd, live music and great atmosphere as it was the people who were there for the week or committed to getting up early to get to NY in time for work….remember way too many times setting the alarm for 4am and, if I overslept and needed to go directly into the city, hitting Brooks brothers on madison on the way in to get an off the rack suit and dress shirt lol for the day.

  72. Yo! says:

    Valley buying Oritani. “50% cost savings” = most Oritani HQ staff getting whacked. Another ding for northern Bergen housing market.

    https://www.globenewswire.com/news-release/2019/06/26/1874452/0/en/Valley-National-Bancorp-to-Acquire-Oritani-Financial-Corp-in-Capital-Accretive-Transaction.html

  73. Mæchîne says:

    This is the song that got me into Alter Bridge:

    https://youtu.be/c0U4hnpX-jQ

  74. Blue Ribbon Teacher says:

    I think the Parker House has changed ownership. Last time I was in Sea Girt on the beach at night (1st time in a decade) there were a bunch of young twenty somethings showing up there to part with 5 cops stationed outside. I don’t remember it being like that.

  75. Juice Box says:

    Sea Girt is where I met my wife. :) I spent many a summer in Belmar and then Sea Girt.

    Looking at the picture here of the last town council meeting, it seems to be a bunch of rich old farts complaining about the taxis and Ubers lined up to pick up the people after a night of partying at the Parker House.

    https://starnewsgroup.com/2019/06/13/parker-house-liquor-license-renewal-tabled-to-june-26/

  76. Fast Eddie says:

    Machine,

    Awesome tune. The band is very powerful. Tremonti is an insane guitar player.

  77. leftwing says:

    “Sea Girt is where I met my wife.”

    LOL, me too. Actually proposed to her there as well, on the boardwalk. Had a couple summer houses there as well as taking a room for the season at the Beacon House for a few summers. That was fun, we used to grab a bottle of wine and watch the PH empty out from the Beacon House porch across the street. Fcuking hilarious. Used to have the drunk buses driving everyone around. One night some chick comes staggering out, hitting the ‘high’ grass hedge on each side of the sidewalk, falling face first on the grass each time. She sees a van with the open back door and sprinted, jumping face first into the rear. Whoops, was an ambulance. Lights on, parked. Funny as hell watching the cops deal with that one.

  78. NJCoast says:

    Parker House. Oh the summer memories.

  79. Juice Box says:

    re “Actually proposed to her there as well”

    Yup me too after a night at the PH, did it on the beach and almost lost the ring.

    We had a pretty decent party house back on 5th ave, good times.

  80. chicagofinance says:

    For Stu:

    WORD OF THE DAY

    Argy-bargy – [ahr-jee-BAHR-jee] – noun

    Definition: A lively discussion, argument, or dispute

    Example: There was plenty of argy-bargy on the train platform this morning, wondering if the Port Authority hated commuters more than NJ Transit.

  81. Libturd, seen crazy things done with ping pong balls. says:

    Essex.

    Try https://www.youtube.com/watch?v=knCZBVxMtyg&list=PLEvr99j7ruPz33UJBK0jj2B6wQZcVkHbI

    Listen to the whole album once through. Have no idea how they didn’t make it.

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  83. Yo! says:

    Flip of decade? Resold at 46% price increase after holding period 66 days.

    http://tax1.co.monmouth.nj.us/cgi-bin/m4.cgi?district=0906&l02=090624301____00004_________M

  84. Fast Eddie says:

    Libturd,

    So far, they sound like a cross between Queen and Supertramp.

  85. Libturd, seen crazy things done with ping pong balls. says:

    Pretty good assessment there Gary. In other news, I just got a raise!!! 1.5%!!! This won’t even cover the increase in tolls and gas tax, but Pumpkin says we need a strong middle class of government workers. So I’m not gonna complain as I continue to fall further and further behind them. It does take a lot of skill to drive a lawnmower.

  86. The Great Pumpkin says:

    Wow, 400 people worth almost a trillion dollars…

    “Despite what you heard, not every billionaire is fleeing New Jersey. Indeed, this man is worth $6.1 billion, according to Forbes.

    New Jersey’s richest resident is John Overdeck, the cofounder of Two Sigma Investments, a data-driven hedge fund that manages $57 billion in assets.”

    “Collectively, the wealthy on the Forbes list had a net worth of $875 billion, which the magazine says set a new record.”

  87. The Great Pumpkin says:

    Wow, that’s horrible. Only 1.5?! Are you at the top of what your position pays, or company being cheap?

  88. Libturd, seen crazy things done with ping pong balls. says:

    Nope. Just living in the real world.

  89. chicagofinance says:

    I am posting this article, because I wanted to hear some reasonable critiques of this action. I have a snap judgement, but I would be interested in hearing well reasoned arguments……

    By Charlie McGee and Jennifer Levitz

    Employees of Wayfair Inc. walked out of the company’s Boston headquarters on Wednesday in protest of the online retailer’s plan to sell $200,000 worth of bedroom furniture to a southern border facility for migrant children seeking asylum in the U.S.

    The walkout evolved into a demonstration that swelled to hundreds of people as employees were joined by human-rights and other groups in Copley Square, a public space just minutes away from the Wayfair workplace.

    Many people waved signs such as “A prison with a bed is still a prison” and “No Way. No Camp.” Speakers with megaphones shouted out to “Wayfairians.”

    “I needed to hit the street to make sure I was proud of my company,” said Madeline Howard, one of the organizers. Asked whether it wouldn’t be better for detainees to have beds than not, Ms. Howard said the goal was to make it as hard as possible to operate the facilities.

    Wayfair, a fast-growing online seller of furniture, didn’t respond to requests for comment.

    The walkout followed a letter signed last week by 500 Wayfair employees. The letter, copies of which were posted on social media, said Wayfair’s sale to BCFS, a government contractor managing border camps for migrants, would go toward furnishing a facility in Carrizo Springs, Texas, built to detain up to 3,000 migrant children.

    The letter included demands that Wayfair’s leadership cease all business with contractors for immigration camps and that it establish an ethics code for business-to-business sales.

    Wednesday’s walkout was sparked by the response Wayfair’s leadership gave its employees, which was also widely posted online. The retailer said it wouldn’t pull out of the immigration-facility sale. The company said it would sell to any customer acting within the law, regardless of the customer’s opinions or actions.

    “Your fellow employees hold a wide range of opinions and perspectives and Wayfair, as a mass-market brand, is oriented to serve a broad and diverse customer base,” the leadership team wrote.

    On Wednesday, a Wayfair employee, who declined to give his name, said that the company’s senior managers held a town hall with staffers Tuesday and that many workers left unsatisfied.

    “The crowd was trying to bring up moral arguments,” the employee said. “But the CEO answered in legal reasons.”

    The walkout exemplified a growing trend of employee activism, particularly among younger workers, urging employers to act as better corporate citizens. Other examples include efforts by Amazon.com Inc. employees to enhance the company’s environmental focus and by Google parent Alphabet Inc. employees to end the company’s work on censorship filters for users of its search engine in China.

    In the case of Wayfair, the employee protest builds on political and public criticism of the Trump administration’s crackdown on immigration and reports of overcrowded conditions at border detention facilities. Several Democratic politicians, including Rep. Alexandria Ocasio-Cortez of New York and Sen. Elizabeth Warren of Massachusetts, publicly stated their support ahead of the protest.

  90. chicagofinance says:

    here is a good one … wow
    “The hypocrisy is staggering ….. in the Land of the Perpetually Outraged the baker has no right to deny a customer’s use of his output, but office-drones at an internet furniture seller want to dictate who can and cannot be a customer based on the use of the products sold.”

  91. Libturd, providing your daily dose of fukced up NJ regulations says:

    I would fire all of them and replace them with illegals at 1/3rd the pay.

  92. Mâchîne says:

    11:31 I definitely feel a Queen vibe.
    1993! That was a great year. My oh my how time she flies.

  93. homeboken says:

    Grim – Can you shoot me an email? I have, what I think, is an interesting article for the blog. I don’t have your contact info in my Inbox.

  94. homeboken says:

    Chi RE: Wayfair – I get pretty frustrated in speaking with family that just love to moan about the immigration problems, ripping little babies away from the immigrant parents, deplorable conditions, yadda yadda.

    I always point out that – What would you do to solve the problem of thousands and thousands of illegal immigrants entering the country so rapidly? The US is simply not equipped to handle this flow of illegal crossings. People just love to moan and complain but ask them for their solution and they are silent. The only option I have heard, which I disagree with, is just let them into the country. Of course, open borders will result in a massive influx of illegals and we are right back where we started.

    As for Wayfair – Sure they have a right to protest. But these are very low-skilled positions at Wayfair, right? These folks shouldn’t be surprised when the very immigrants they are trying to protect, take their job at 65% of the current salary. People like to forget how complicated immigration policy is to get right. We would love to be perfect humanitarians but we simply can’t handle the volume and still respect the legal immigration process.

  95. Máchìne says:

    Chevy is just rolling out an all-new version of its heavy-duty Silverado with the new High Country trim package that could become the first U.S. pickup to top $100,000, Chevy truck marketing chief Sandor Piszar said in an interview.
    “People want to trade up,” Piszar said in an interview following a press preview of the 2020 Chevy Silverado HD line last week in Bend, Oregon. “If customers want a more expensive truck” than what the brand already offers, “We’ll deliver it.”
    Pickup trucks are the workhorses of the automotive land. Historically populating construction zones, oil rigs, farms and the ranches of the Midwest, the first crew cab made hauling a family of five just as easy when the four-door pickup was introduced in the 1950s. Pickup, SUV and crossover sales have soared in recent year, supplanting to sedan and caravan as the family car of choice.
    Pickups have carved out a particularly strong niche in the industry. Strong demand for the trucks have helped offset an overall 3% drop in new vehicle sales in the U.S. during the first five months of 2019. That would have been more severe were it not for truck sales, according to a report by tracking firm LMC Automotive.
    The profit margins for pickups are also fatter, about $10,000 per truck, which can be several times the amount of a typical sedan, analysts said. Chevy’s Silverado, along with the GMC brand’s Sierra truck family are a “major contributor” to GM’s bottom line, said Piszar. And while he wouldn’t offer specific details, analyst Phillippi estimated the average Silverado provides “over $10,000 variable gross profit (while) at the high end, a Silverado High Country or a GMC Sierra Denali can get over $20,000.”

  96. Máchìne says:

    George Tyndall, the former USC campus gynecologist accused of sexual misconduct against hundreds of patients, was arrested Wednesday and charged with more than two dozen felonies, authorities said.
    Tyndall was taken into custody outside his Westlake apartment near MacArthur Park, his attorney Andy Flier said.
    ADVERTISEMENT
    The Los Angeles County district attorney’s office filed 29 felony counts against Tyndall involving 16 of his female patients.
    The complaint, signed by sex crimes prosecutor Reinhold Mueller on Tuesday, accuses Tyndall of sexually abusing patients between August 2009 and April 2016, just two months before he was forced out of USC’s Engemann Student Health Center.
    He faces 18 counts of sexual penetration of an unconscious person, meaning patients were unaware that the penetration did not — as the alleged perpetrator claimed — serve a professional purpose.
    Additionally, Tyndall faces 11 counts of sexual battery by fraud for touching an “intimate part” of a patient “for the purpose of sexual arousal” and under the guise of a “professional purpose.”
    Tyndall, 72, faces up to 53 years in prison if convicted, prosecutors said.
    Prosecutors will ask a judge to set bail at just over $2 million, according to the complaint.
    Tyndall has maintained his innocence and denies all the allegations against him, attorney Leonard Levine said.
    “After one year of being tried in the press,” the attorney said, “Dr. Tyndall looks forward to finally having his case adjudicated in a court of law.”
    Interim USC President Wanda Austin said the university was awaiting further details on Tyndall’s arrest.
    “We have cooperated with the LAPD and district attorney’s office investigations since the beginning and will continue to do so. We care deeply about our community, and our top priority continues to be the well-being of our students, health center patients and university community,” Austin said. “We hope this arrest will be a healing step for former patients and our entire university.”

  97. Leftwing says:

    Chi, start a blog called SJWAlert, post up the boycott silliness. Direct anyone and everyone center through right to the perpetual 20 percent of coupons at Overstock and blow these liberal arseholes at Wayfair out of the water and out of their jobs in retaliation for their assinine liberal on the job activism.

    But that’s just me.

  98. Leftwing says:

    Tuned in the debate. Who the fcuk are all these people?

    Were the Repub primaries last year as crazy as this with the same number of unknown freaks

  99. Leftwing says:

    They’re giving the chick from the reserves in the pink jacket a bunch of airtime. She’s pretty articulate. No idea which bs congressional or mayoral seat she holds though

  100. Leftwing says:

    Warren and diblasio have a monopoly on that bitter nasty liberal scowl.

    Can we run them as a joint ticket please.

  101. Leftwing says:

    Ok, someone just came out hard in favor of government funded transgender abortion rights….

    Riddle need how that biology works joker

  102. Leftwing says:

    Debate sucks. Tapping out to catch up on Billions on Showtime. G nite all

  103. Bergen Bubble Burst says:

    I have been a long time reader, well before Pumpkin. I have seen the trolls come and go. But this Pumpkin is single highhandedly ruining this blog. Even when I do try to read some posts I have to scroll past anything from Pumpkin (and those who unfortunately respond to him). I am sure there are many others like myself.

    Anyway, I noticed the other day that no one was taking his bait as he was conducting his usual spamming of the blog. Then after a few hours someone called “No One” responded to him. I believe this is Pumpkin using another name in an attempt at generating more attention for his nonsense and hoping to draw more attention/responses to himself. I hope Grim can track the IP addresses used for both No One and Pumpkin. I also hope they are the same, and that Grim will finally use this as justification for banning Pumpkin.

    I would love to see this blog released from his trolling. He clearly has mental issues, and I think it would be best for himself if he spent his energy in trying to address his problems.

  104. The Great Pumpkin says:

    I’ll stop posting….

  105. xolepa says:

    …until the next post

  106. xolepa says:

    I am also watching the debate.

    Can’t decide whether I’m watching a Circus freak show or Comedy Hour. There’s that one guy who has eyes like Bela Lugosi. I scream every time the camera is on him.

    Also, I didn’t know tonight was “let’s see who speaks Spanish most fluently’ night. That tall dude also needs something to heal his lip.

    Warren looks frail.

    That Julian guy has a constant smirk on his face.

    DeBozio at least makes things entertaining. Interrupts a lot.

  107. xolepa says:

    That Hawaii chick doesn’t look bad , all that makeup and what not.

    Within 5 years her face will turn to mush. Hillary, part 2

    Booker, God what a jerk. Any one realize how murders shot up in Newark under his leadership?

    Democrats talking about everything according by race, gender, color, etc. They should be pretty good at Cube theory

  108. xolepa says:

    My MIL who is staying with us a couple weeks was watching. She’s a Trump hater, watches CNN and the like…..just walked out… said it was boring

    Why are all the interviewers hardcore leftwing?

  109. The Original NJ ExPat says:

    What the left is thinking this morning: “oh shit.”

  110. Fast Eddie says:

    Didn’t watch the debate obviously but who would vote for a man named Beta? And the best reaction I saw to that technical glitch was that it was the Russians. lol.

  111. Mâchîne says:

    Last night was the “B” team. Either Bernie or Biden will give Trump a contest.

  112. chicagofinance says:

    I agree that Pumpkin does post under multiple handles at times, but No One is a real person. No One is actually very accomplished in his field.

    Bergen Bubble Burst says:
    June 26, 2019 at 9:58 pm
    Anyway, I noticed the other day that no one was taking his bait as he was conducting his usual spamming of the blog. Then after a few hours someone called “No One” responded to him. I believe this is Pumpkin using another name in an attempt at generating more attention for his nonsense and hoping to draw more attention/responses to himself. I hope Grim can track the IP addresses used for both No One and Pumpkin. I also hope they are the same, and that Grim will finally use this as justification for banning Pumpkin.

  113. 3b says:

    Just FYI back in the day my handle was Bergen Bubble Burst. I changed it years ago to 3b for short. This Bergen Bubble Burst is someone else.

  114. D-FENS says:

    The issue of our time….

    Leftwing says:
    June 26, 2019 at 9:31 pm
    Ok, someone just came out hard in favor of government funded transgender abortion rights….

  115. Libturd, seen crazy things done with ping pong balls. says:

    D-FENS truly nailed it.

    I didn’t watch the debate. I figured it would be too painful. Sounds like it was. They still don’t get it.

    Except for Bernie. Was he there?

  116. The Original NJ ExPat says:

    The only contest is whether the Dem nominee gets beat worse than Dukakis or not.

    Last night was the “B” team. Either Bernie or Biden will give Trump a contest.

  117. leftwing says:

    If it were the B team why was Warren in the bunch?

    Hopefully tonight is more entertaining. At least we should be able to confirm Biden didn’t go deaf mute.

    Separately, another nice morning in the markets. Shaved more positions, down to only five and most of those are lighter than when I entered. Need to do an idea dive these next few days, will float any of note that surface.

  118. leftwing says:

    Wow, Roberts sides with the liberal side of SCOTUS to strike down census question on citizenship.

    Gonna have a twitter storm, it’s past bed time in Japan.

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  120. leftwing says:

    Real estate somewhat related. South Street Seaport, Woodlands, etc.

    Halted it a little late, no?
    https://finance.yahoo.com/quote/HHC?p=HHC&.tsrc=fin-srch-v1

  121. Bruiser says:

    Roberts was an absolute gift to the Left.
    And they smeared the h3ll out of the guy.

  122. The Original NJ ExPat says:

    Souter was the real Manchurian candidate.

  123. chicagofinance says:

    One of the wonderful things about America and the fragmentation of modern media is that it’s possible to be a highly compensated television anchor while speaking for a tiny sliver of the American electorate. But perhaps MSNBC’s Rachel Maddow didn’t expect this fact to be highlighted during a gathering of Democratic presidential candidates.

    At Wednesday night’s debate in Miami former Rep. John Delaney (D., Md.) attempted to inject some measure of reality into his colleagues’ discussion of economics. But he also provided an interesting response to Ms. Maddow on the question of prosecuting President Donald Trump for real or imagined offenses. It seems that the core of her nightly programming may be of little interest to many Democratic voters, never mind Republicans.

    Following a pledge from former Rep. Beto O’Rourke that if elected he would have the Department of Justice pursue an investigation of Mr. Trump, Ms. Maddow pressed the topic with Mr. Delaney. Here’s an excerpt from NBC’s debate transcript:

    MADDOW: Congressman Delaney, because of the accountability issues that Congressman O’Rourke was just describing there and the real political landscape in which Nancy Pelosi is saying that impeachment will not be pursued in the House, it raises the prospect — and the Mueller Report raises the prospect that President Trump could be prosecuted for some of those potential crimes down the line. No U.S. president has ever been prosecuted for crimes after leaving office. Do you believe that President Trump could or should be the first?
    DELANEY: I guess there’s always a first.
    MADDOW: Should he be?
    DELANEY: I don’t think anyone is above the law. I don’t think anyone is above the law, including a president. I support Speaker Pelosi’s decisions that she is making in the House of Representatives right now as speaker. I think she knows more about the decision as to whether to impeach the president than any of the 2020 candidates combined.
    MADDOW: Conceded. On the issue of prosecution…
    DELANEY: … no one is above the law, and this president, who is lawless, should not be above the law. But I will tell you, Rachel, the one thing when you’re out doing as much campaigning as I’ve done, 400 events, all 99 counties in Iowa, this is not the number-one issue the American people ask us about.
    It’s not. They want to know what we’re going to do for health care, how we’re going to lower pharmaceutical prices, how we’re going to build infrastructure, what we’re going to do to create jobs in their communities.
    You know, last year in our country, 80 percent of the money for start-up businesses went to 50 counties in this country.
    There’s [sic] over 3,000 counties in this country. That’s what they care about. They care about what’s going on in the public schools. They care about what’s going on with jobs in their communities, with their pay, with their health care, with infrastructure. These are the issues, these kind of kitchen-table, pocket-book issues…
    MADDOW: Understood.
    DELANEY: … are actually what most Americans care about. They never ask about the Mueller Report.
    (CROSSTALK) MADDOW: Congressman, thank you. Your time is up.
    DELANEY: They never ask about it. They want to know how we’re going to solve these problems.
    At that point Ms. Maddow interjected to say again that Mr. Delaney’s time had expired.

  124. leftwing says:

    “Souter was the real Manchurian candidate.”

    Never liked GHWB from the voodoo economics and read my lips comments…

    Mainstream old guard. No fire or vision.

  125. No One says:

    I don’t respond to educate Pumkin, he’s beyond repair. But he does parrot popular fallacies which other people might share.
    But the whole world seems to be moving toward mass stupidity on the right and left, and it seems that there’s no way for me to stop it from getting worse. Pumpkin serves as an allegory for aggressive ignorance on the march.

  126. No One says:

    GHWB was from the “noblesse oblige” wing of the Rupublican party. Would have never been elected without Reagan’s help, but he and his son basically help strip the party of intellect. Then Trump cashed in on the vacuum left behind, taking the party aggressively anti-intellectual.

  127. joyce says:

    Two decisions issued minutes apart, on questions that at their essence turns on the same issue — and lead to polar opposite results.

    First, the court blocked — at least for now — the Census Citizenship question on the argument that it was basically gerrymandering in that it “may have” been designed to undercount areas with high illegal invader populations.

    But the court also issued, handed down in a decision almost literally at the same moment, that the federal judiciary has no jurisdiction in proved gerrymandering; not suspected or claimed, proved.

    http://market-ticker.org/akcs-www?post=236171

  128. TGP is not that bad says:

    I don’t believe that Pumpkin ruins this blog. From what I have read, he brings a wealth of information. At times he does seem to troll. He really knows how to use Murphy to bring out the anger in some of the people on this blog.

  129. Libturd, seen crazy things done with ping pong balls. says:

    Nigger please.

  130. The Original NJ ExPat says:

    Heh-heh. ⛹🏿‍♂️

  131. Màchíne says:

    Lib that “Jellyfish” band. Interesting.
    A few styles packed in that album. Definitely a lot of talent .

    Not sure why 1993 did not treat them to more acclaim.

  132. The Great Pumpkin says:

    Real estate def peaked.

    And here is the truth, not the bs sold to you about them lining up to buy.

    “Sellers are hoping wealthy buyers from high-tax states like New York and California, will fill the void. But so far, domestic buyers haven’t offset the loss of international capital, say agents.

    “There’s been a lot written about New Yorkers flocking to Miami,” said real-estate agent Mark Zilbert. “They’re flocking here and looking, but not necessarily buying anything.””

    https://www.wsj.com/articles/in-miami-there-are-too-many-condos-and-not-enough-foreign-buyers-11561658937

  133. The Great Pumpkin says:

    Talk about a cas!no. This is the definition of gambling on real estate. Why would you want to buy into this?

    “Miami’s high-end real-estate market, more so than that of other major U.S. cities, is dependent on out-of-town buyers, especially foreign nationals. The Miami metropolitan area, home to about 6.1 million people, has been a magnet for Latin Americans, starting with Cuban refugees in the late 1950s.”

Comments are closed.