Millennials – Still no home for you

From Curbed:

Sorry, millennials: A recession won’t help you buy a house

The 2008 financial crisis brought the global economy to its knees and sent American home prices into freefall. For anyone who managed to hang on to their job, savings, and credit score, the aftermath of the crisis was a prime opportunity to buy a house at a bargain price.

The Great Recession is the only economic downturn millennials have lived through as adults, so, naturally, they might think that the next recession—which more and more economists believe will hit by 2021—will present a chance for many millennials to finally join the ranks of homeownership.

It doesn’t bring me joy to report that this is unlikely to be the case.

The last recession was an anomaly in more ways than one, and its effect on the housing market is the biggest outlier relative to other recessions. The 2008 recession didn’t cause the housing market to go into freefall. The housing market going into freefall caused the recession.

In the years leading up to that collapse, mortgage lenders were issuing mortgages that were destined to fail. Those mortgages were bundled into bonds and distributed across the global financial system. When people started defaulting on those mortgages, the financial system collapsed, and millions of homes went into foreclosure. Prices dropped.

In contrast, the next recession—should it hit—will signal the natural end of a long economic expansion since 2008. Another forcing mechanism is the trade war between the United States and China, as new tariffs lead businesses to scale back on investing and hiring, causing the economy to slow down.

In other words, it would be a fairly standard recession that has nothing to do with mortgages or the housing market, and its severity is not expected to rival the one in 2008. An upcoming recession would also encounter a housing market that’s almost the inverse of what it was in 2008: tight mortgage credit instead of loose mortgage credit, housing supply shortage instead of a housing surplus.

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

84 Responses to Millennials – Still no home for you

  1. The Great Pumpkin says:

    Agreed. If recession does come, it will be quick. Just a minor blimp. Fundamentals too strong.

  2. The Great Pumpkin says:

    If you didn’t see 50% hair cuts in 2008, do not expect for one second there will be a major drop in real estate. Real estate feels like it has already corrected with a nice calm stabilization of the market. No major price drops, but slow gradual halt on major appreciation.

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  4. No One says:

    If you guys working for IBs now are complaining, brace yourselves for the bloodbath that will come when markets fall. My tip is to consider the correlations of your personal assets to the income streams from your jobs.

  5. The Great Pumpkin says:

    No one,

    There are a lot of new jobs being created. Yes, we hear the stories on here of the IT guys in banking getting hurt, but we never hear of the new jobs being created out there. Look at the wage growth. Things are getting better by the day for a lot of people out there, but somehow the mood of the moment is gloom. It’s comical.

  6. Chi says:

    STFU. No one speaks truth

  7. 3b says:

    Tight mortgage credit? Still 3 percent down mortgages out there available. What I find shocking is the median age of a first time home buyer being 46 years old!!

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

    Was down in AC/Wildwood/Philly Thursday night to Sunday. Left yesterday to avoid traffic, plus weather was sucky today anyhow.

    The hotel seemed emptier than on a normal Summer weekend. Even the Philly/Met game on a Friday night was half empty. Water Park at end of Morey’s pier was fantastic (free for us) but crazy expensive ($55 per person) for non WISH families. Park was pretty empty, so no lines. Ate dinner at The Dock (bayside) and had absolutely fantastic oysters and even better fish tacos. Mine was monkfish and street corn. Tried my son’s tuna tacos and they were equally as good. Great setting, free parking, BYOB. Highly, highly recommend. Somehow, we were the only one’s there at 5:30pm on a Friday night of a holiday weekend. Heck, it was easy to get a table at Gordon Ramsey’s Pub this weekend in Caesars. Best Wings in AC, btw.

    Why was everyplace so dead on a drop dead beautiful weekend?

    I think the recession has started.

    We’ll see. I tend to always be early to the party.

  9. Bystander says:

    Lib,

    Because everyone is in their Hampton house or on a Perillo Euro tour , spending their glorious wage increases. A hamster brained idiot told me so. Apparently non skilled morons in IT are the only losers in the new economy. Nothing to see here..up,up,up.

  10. The Great Pumpkin says:

    If things are so bad for the avg man, I want to see it in the data. How do things keep going up in cost as opposed to data supporting deflation?

    I lose my job today and I’ll have a ton of avenues to go make money. So many markets to flip goods. You can literally earn a living buying and flipping whatever said “good/s” you want. This was not available ten years ago. So much opportunity out there to make a buck.

    Bystander says:
    September 2, 2019 at 12:55 pm
    Lib,

    Because everyone is in their Hampton house or on a Perillo Euro tour , spending their glorious wage increases. A hamster brained idiot told me so. Apparently non skilled morons in IT are the only losers in the new economy. Nothing to see here..up,up,up.

  11. The Great Pumpkin says:

    It prob already has. It’s self inflicted bs. Nothing to worry about because you will barely feel this recession the bounce will be so quick.

    “I think the recession has started.”

  12. The Great Pumpkin says:

    The demand coming from the spending patterns of the millennials as they start to form households shouldn’t be understated. That’s a huge boom to the economy and it’s coming.

  13. The Great Pumpkin says:

    Look at 2008 stock market sell off. Was it warranted? In hindsight, no. The entire market panicked and sold off. Creating immense value buys by terrible moves listening to the got damn daily gloom.

    Play the market long term people. Stop playing short term games. Pick something you think will still be valuable in 10 years and invest in it. Do you think American economy will be bigger in 10 years? Well, easy play is to invest in the s & p 500 and call it a day. Chances are you will win. Case closed. Instead we listen to this bs noise.

  14. 3b says:

    Lib. We were down at a concert in PNC on Saturday and it was packed. Back down again on Sunday to Asbury. Beautiful day but chilly for the water. If it was hotter I think the beach would have been packed but still a nice crowd.
    I know some colleges had move in weekend this weekend that may have impacted the crowds. Also I know some Bergen co schools went back this year before Labor Day something I have not seen before in Bergen. That may have impacted as well. For sale
    Signs everywhere from what we saw on the shore this weekend. Some eye popping asking prices in Asbury! I don’t know why anyone would spend that kind of money in that town. It has a long way to go and I don’t think it will ever completely regentrify. In my town seems like a lot of inventory on the market for this time of year. Not sure what that means but town is much more transient than it was in the past.

  15. 3b says:

    Those millenial first time home buyer at 46!!!

  16. Abeiz says:

    As always, re is hyperlocal, but I’m told that many dirty renters forced to move in my neck of the woods as more LL’s than usual are putting properties up on market.

  17. Bystander says:

    You truly are inconceivably stupid. Sure, people will go from software delivery to flipping shit on ebay for income. It is like the the whole bubble and bailout never happened. All natural progressions of free market…but we still need 0 rates or whole thing collapses. Real fundamentals at work

  18. The Great Pumpkin says:

    Bystander,

    I was generalizing. I was simply pointing out how new opportunities are there and are opening up every day. I don’t buy for one second that this economy will stop producing good jobs. If it does, the economy will die. New stuff coming out every day. Life is changing fast.

  19. chicagofinance says:

    The Great Pumpkin says:
    September 2, 2019 at 5:24 pm
    I was generalizing
    https://youtu.be/gu5g86nhWK4?t=73

  20. chicagofinance says:

    You are bs noise

    The Great Pumpkin says:
    September 2, 2019 at 1:17 pm
    Play the market long term people. Stop playing short term games. Pick something you think will still be valuable in 10 years and invest in it. Do you think American economy will be bigger in 10 years? Well, easy play is to invest in the s & p 500 and call it a day. Chances are you will win. Case closed. Instead we listen to this bs noise.

  21. chicagofinance says:

    All the preparations for the nompound with a hard perimeter are finally proven to be justifed……. armed packs of people roaming the countryside in search of food as supplies run out….. it is truly the end of days….
    https://www.yahoo.com/huffpost/popeyes-sold-out-chicken-sandwich-gun-074431805.html

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

    Louisiana Fast!

    Good morning peeps.

  23. Juice Box says:

    Here is a video from the Grand Bahama airport FPO terminal looking out over the underwater runway, half the island is still underwater.

    https://twitter.com/i/status/1168540276949954560

  24. NJCoast says:

    Locals summer!

  25. Libturd, seen crazy things done with ping pong balls. says:
  26. JCer says:

    Shore was really quiet this weekend. No traffic in either direction from suburban essex county to cape may. No lines at the Wildwood boardwalk which was utterly shocking, even the beach in cape may wasn’t fully crowded. I’d say it was at the level of a regular summer weekend or lower. It does make me question the economy, a long weekend with decent weather and there were clearly vacancies.

  27. GdBlsU45 says:

    I see dead people. And recessions.

  28. ExEssex says:

    Lot’s of inventory in the $2m range and above here is sunny Calif.

  29. Libturd, knows ICE is nice says:

    Any negative news is fake news during a Trump presidency apparently. Things are truly GREAT!

  30. chicagofinance says:

    Based on the investopedia definition, the current formation is not a triple top.
    Market peaked at 3,025 area and resistance on the formation is 2,930 area.

    Libturd, seen crazy things done with ping pong balls. says:
    September 3, 2019 at 10:40 am
    https://www.investopedia.com/terms/t/tripletop.asp

    https://yhoo.it/2PFTK3x

  31. Libturd, knows ICE is nice says:

    Stop being so picky.

    I don’t believe in most of this TA bullcrap anyways.

    I just like to spook everybody.

  32. leftwing says:

    Lib zoom the SPX chart in to exactly one month. A lot more fun pattern….Then play with the VIX from the beginning of the year…..

    Ex, tragedy in the Channel Isl….Horrible looking affair. I’ve done scuba trips like that, though not in that area…Fcuked up.

    JCer, seems over maybe the last decade or so my peers have stopped hitting the final weekend at the shore, and sometimes more…too much going on…Fall HS sports, back to school on Tue/Wed, travel sports, older siblings out to college….I’ve actually considered whether empty houses in a decent economy are a contra-indicator….when stretched one feels compelled to squeeze every dollar out of each asset and has fewer alternative choices…if you’re sitting kind of fat you don’t feel the need to ‘get your money worth’ out of a shore house, if you can’t really make it down, you don’t…..

  33. abeiz says:

    correct me if I’m wrong, but a triple top is a more viable indicator when it is not inside a trading range, which this clearly is… you can be channel/range bound for a while… the third bounce off the top doesn’t indicate a change, since it’s still range bound. it’s the failure of support that validates that.

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  35. The Great Pumpkin says:

    “Market bulls are resting their hopes on a strong U.S. consumer, yet key consumer variables such as unemployment and wages are lagging indicators—well known for trailing developments in the broader economy. If U.S. business activity buckles under the weight of trade tensions and a global downturn, consumers will follow.

    With both the yield curve and manufacturing surveys flashing red at the same time, it would be foolish to dismiss them both. No wonder investors are spooked.”

    https://www.wsj.com/articles/another-recession-sign-to-ignore-at-your-peril-11567530230

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  37. Phoenix says:

    The uber inspector. Anyone have a contact # for him?

  38. chicagofinance says:

    Phoenix: here is Peter in all his glory…… my wife found him in 10 1/2 years ago when he first started out….. I think he is probably very good, but based on comments here over the years, he has sometimes has underwhelmed….. very good guy, but I don’t know whether I would grab a beer with him….. he is from down here in Little Silver….

  39. chicagofinance says:

    Just realized we are in September…… I’ve been posting here for 14 years.

  40. Grim says:

    Jesus Christ it’s been a long time

  41. Fast Eddie says:

    14 years… pre pumpkin days. Let’s reminisce with some names from the past. Boyaa Bob is the most memorable. JJ had the best stories. Clot was my inspiration to mumble “f.uck you” to every worthless soul I came upon. Anyone have some favorites?

  42. chicagofinance says:

    A Feminist Capitalist Professor Under Fire

    The students who demand her firing, Camille Paglia argues, take prosperity for granted, are socially undeveloped, and know little about Western history. Who’s Moses?

    By Tunku Varadarajan
    Aug. 30, 2019 5:45 pm ET

    Ms. Paglia is a professor of humanities and media studies at the University of the Arts in Philadelphia, where she has been a tenured—and occasionally embattled—faculty member since 1984. This April, mutinous students demanded her firing over public comments she’d made that were not wholly sympathetic to the #MeToo movement, as well as for an interview with the Weekly Standard that they called “transphobic.” That denunciation, with its indignant dogmatism, is particularly slapstick, since Ms. Paglia describes herself as “transgender.”

    The protests were unsuccessful, largely thanks to a robust defense of Ms. Paglia by the university’s president, David Yager. “Artists over the centuries,” he wrote in an open letter to students, “have suffered censorship, and even persecution, for the expression of their beliefs through their work. My answer is simple: Not now, not at UArts.”

    Ms. Paglia laments that the “antisex and repressively doctrinaire side of feminism is back again—big!” She calls it “victim feminism” and complains that “everything we’d won in the 1990s has been totally swept away. Now we have this endless privileging of victimhood, with a pathological vulnerability seen as the default human mode.” Everyone is made to cater to it—“in the workplace, in universities, in the demand for safe spaces.”

    As a teacher of undergraduates, Ms. Paglia despairs at how “bad it is for young people, filled with fears, to be raised in this kind of a climate where personal responsibility isn’t spoken of.” Since her own youth, she says, college students have devolved from rebels into skittish supplicants, petitioning people in authority to protect them from real life. Young adults are encouraged to look for “substitute parent figures on campus, which is what my generation rebelled against in college. We threw that whole ‘in loco parentis’ thing out.”

    There’s an undeniable irony in hearing a septuagenarian, from a generation that was famously preoccupied with youth, deplore the state of today’s young people. “Our parents were the World War II generation,” Ms. Paglia says, “so they had a sense of reality about life.” Children now “are raised in a far more affluent period. Even people without much money have cellphones, televisions, access to cars. They’re raised in an air-conditioned environment. I can still remember when there was no air-conditioning.” She shudders as she sips her cold beer, adding that she suffered horribly in the heat.

    “Everything is so easy now,” Ms. Paglia continues. “The stores are so plentifully supplied. You just go in and buy fruits and vegetables from all over the world.” Undergrads, who’ve studied neither economics nor history, “have a sense that this is the way life has always been. Because they’ve never been exposed to history, they have no idea that these are recent attainments that come from a very specific economic system.”

    Capitalism, she continues, has “produced this cornucopia around us. But the young seem to believe in having the government run everything, and that the private companies that are doing things for profit around them, and supplying them with goods, will somehow exist forever.”

    Ms. Paglia asks me to note that it was “because of capitalism” that her forebears “escaped the crushing poverty of rural Italy,” emigrating to Endicott, N.Y., to “work in the Endicott-Johnson shoe factories, whose vast buildings, tanning pools and smokestacks dominated my childhood.”

    Although she doesn’t use the phrase herself, you can call Ms. Paglia a feminist capitalist. “While I believe that boom-and-bust capitalism is inherently Darwinian and requires moderate regulation for the long-term greater good,” she says, “I insist that capitalism has produced the glorious emancipation of women.” They can now “support themselves and live on their own, and no longer must humiliatingly depend on father or husband.”

    So why do young women feel victimized? Ms. Paglia cites the near-extinction of “body language” among the young and its impact on sexual relations on campus. The “loss of body language” starts in middle and high school, “where there’s total absorption in social media and projected images on Instagram, and so on. So they don’t know how to read each other, physically.” When they get to college, this social deficiency is exacerbated by the effects of “that stupid law, the National Minimum Drinking Age Act, that was passed in 1984.” It effected a nationwide ban on alcohol sales to adults under 21.

    “When I got to college,” Ms. Paglia says, “you could go out for a beer, you could talk with a drink in a public place, in an adult environment.” That’s how 18-year-olds away from home for the first time learned the “art of conversation, of looking at each other, reading facial expressions and body language.” After the ban on drinking, “instead of a nice group of people conversing and flirting, you got the keg parties at fraternities on campus, this horrible environment where women milled about with men in this huge amount of noise, with people chugging beers down.”

    Ms. Paglia is distinctly animated now and—body language!—claps her hands for emphasis. “So almost immediately, by the late 1980s, you get this date-rape extravaganza, and the hysteria, and the victimage.” Ms. Paglia has urged a repeal of the drinking-age law but “cannot get any traction on this. No one will listen to me.”

    By contrast to her flaming public persona, Ms. Paglia is positively conventional in the classroom. “As I constantly stress,” she says, “my base identity is as a hard-working, no-nonsense schoolmarm—like the teaching nuns of global Roman Catholicism.” Despite her avowed atheism, she confesses to keeping a Mass card of St. Teresa of Ávila in her den at home.

    This fall semester, she will teach two classes, “Art of Song Lyric” and “Style in Art.” She asks me to “stress that I do not teach ‘my’ ideas in the classroom.” Instead, she teaches “broad-ranging” courses and considers herself responsible for her students’ “general education—in which there are huge and lamentable gaps, thanks to the tragic decline of public education in this country.”

    She recalls a “horrifying” example from her classroom a few years ago. She was teaching “Go Down, Moses, ” the famous Negro spiritual. “The whole thing is about antiquity,” she says, “but obviously it has contemporary political references.” She passed out the lyrics and played the music, “and it suddenly hit me with horror—none of them recognized the name ‘Moses.’ And I thought: Oh my God, when Moses is erased from the West, what is left of Western civilization?”

    Judging by last semester’s protests against Ms. Paglia, today’s college students seem better versed in the polemics of gender identity than in Judeo-Christian history. This prompts me to ask Ms. Paglia, perhaps intrusively, why she regards herself as transgender. “There’s no doubt whatever,” she responds, “that I have had a radical gender dysphoria since earliest childhood. Never once in my life have I felt female.” Nor did she feel male, “except when wearing my fabulous Halloween costumes as a Roman soldier, toreador or Napoleon.”

    “This strange alienation from standard human life certainly helped sharpen my powers of social observation,” she says, “and eventually made me a writer.” Her many years of researching and writing “Sexual Personae,” she adds, “exorcised a lot of my accumulated hostility toward the gender system.”

    These days, she says, “there is only one occasion when my old turbulence returns—when shopping for clothing.” When she was in college, styles were “gender-bending,” and she wore “ Tom Jones shirts, flared pinstriped trousers, Navy pea coats and Beatles boots with Cuban heels.” No more. Now she makes an annual “pilgrimage” to the sprawling King of Prussia shopping mall outside Philadelphia.

    “I cannot express too strongly my overwhelming sense of existential alienation and horror when confronted with those lavishly stocked stores,” she says. There is nothing she can identify with in the women’s department, or the men’s. “It is completely inconsequential that I have attained a certain status as professor and author of eight books. At King of Prussia, my identity is completely wiped out—erased!”

    Mr. Varadarajan is executive editor at Stanford University’s Hoover Institution.

  43. Bystander says:

    2005 BM..before Michael. We are at 14 AM with no slow down in the obsessive drivel. Thought I saw reinvestor awhile back with no fanfare. Good for a chuckle. Back when RE was topic instead of copy/paste function on a random economists meaningless thoughts of the day.

  44. Juice Box says:

    Most stand up comedians stay far away from that kind of humor now. They would never work again. Death of comedy and it’s a real tragedy.

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

    I miss Bi and bilova

  46. 1987 Condo says:

    I printed out a few of JJ’s employment advice diatribes to share with my son. His “pragmatic” approach was too late to help me…..

  47. Wednesday Fourteen says:

    Going back to the stock market in here for a second.

    This is from Bloomberg,

    https://www.bloomberg.com/news/articles/2019-09-04/michael-burry-explains-why-index-funds-are-like-subprime-cdos

    “Central banks and Basel III have more or less removed price discovery from the credit markets, meaning risk does not have an accurate pricing mechanism in interest rates anymore. And now passive investing has removed price discovery from the equity markets. The simple theses and the models that get people into sectors, factors, indexes, or ETFs and mutual funds mimicking those strategies — these do not require the security-level analysis that is required for true price discovery.

    “This is very much like the bubble in synthetic asset-backed CDOs before the Great Financial Crisis in that price-setting in that market was not done by fundamental security-level analysis, but by massive capital flows based on Nobel-approved models of risk that proved to be untrue.”

  48. The Great Pumpkin says:

    lol… this place loves me.

    Hey, I try to bring up real estate…

    Bystander says:
    September 4, 2019 at 9:28 am
    2005 BM..before Michael. We are at 14 AM with no slow down in the obsessive drivel. Thought I saw reinvestor awhile back with no fanfare. Good for a chuckle. Back when RE was topic instead of copy/paste function on a random economists meaningless thoughts of the day.

  49. The Great Pumpkin says:

    I don’t know if I agree with this. How is passive investing a bad thing? In my opinion, it provides consistency to the market. I don’t know, I think it’s kind of crazy to believe that avg individuals could price the market correctly, so I don’t see how index funds are harmful.

    Wednesday Fourteen says:
    September 4, 2019 at 10:24 am
    Going back to the stock market in here for a second.

  50. The Great Pumpkin says:

    I think the majority of people and the market are better off passively investing. They simply can’t be successful any other way.

  51. Fast Eddie says:

    What about the poster, Pretorius whom I called pretentious. I also keep trying to ask who the guy from Cl1ffside Park was that wanted to move to Alp1ne but for some reason, it goes into mod.

  52. Wednesday Fourteen says:

    Hey PumpkinM0ron,

    Here is the movie part with Michael Burry,

    https://youtu.be/dlbG6G_iHLU

    +489% return,

    So if the choice is between Dr.Burry and a l0ser from Wayne, who can even start in his family criminal business career. Here is a video from the Feds’ surveillance of you and your family talking careers,

    https://youtu.be/vYabrQrXt4A

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  54. Juice Box says:

    Burry is out there again talking about a possible bubble in large-cap because of passive investing, he has spotted something, but this is only short term for anyone interested.

    Lots of inverse ETFs to choose from.

    https://www.proshares.com/funds/geared/?gclid=EAIaIQobChMIxJixub-35AIVho3ICh2MvgWUEAAYASAAEgLpdPD_BwE

  55. ExEssex says:

    9:14 Good Times. Easy to tell the Finance folks on here early on.
    JJ. was really all of us exposed to lead paint. Clot’s predictions rang true eventually.
    Everything turned to sh*t and then got better. Still have Illinois as the canary in the coal mine as far as pensions is concerned. Life is good. For the boomers/ good bless em. There’s been gold in some posts over the years.

  56. Blue Ribbon Teacher says:

    I’ll stick with Altria…vaping is a guaranteed bull market

  57. Wednesday Fourteeny says:

    Juice,

    Be very,very careful with those ETF. They mathematically disintegrate as the day progresses. So even in a downward market their gains are limited by their parasitic infrastructure. If you trade them, is something you hold in minutes to hours, never overnight. Overnight guarantees loses as it mathematically does a value price reset.

    ExEssex,

    Everyone is putting too much weight on pension issues. Medicare For All is a stealth bail out of state and local government pensions and overall spending. Woosh overnight all estimate medical care expenses disappears.

    Right now the top 3 democratic candidates are Sanders, Warren, and Biden. Trump has said that he does not want to be outflanked on healthcare by the democrats. So 2 out of 4 contenders, want Medicare for All. 3 out of 4 want to change it for the better. Only 1 out 4 (Biden) wants to keep and “improve aka more money for big insurance” the present ObamaCare.

  58. Libturd, still in Union, mainly on Thursdays, soon to be daily. says:

    Listen to Wed.

    I got taken to the cleaners a bit in SRS until I learned this (from ChiFi). Though price leak is only problem in short ETF.

    As for bubble in large cap due to ETFs, I disagree about lack of price discovery. Shares are still bought and sold (even in ETF) based on a street determined value. Yes, money flows in evenly across defined sector. But losses, based on earnings and other events are still isolated from the entire ETF. Heck. It’s the whole reason to be in them.

  59. Libturd, still in Union, mainly on Thursdays, soon to be daily. says:

    Trump has been at his own golf courses on 213 days during his less than three years — 957 days — as president, and has charged taxpayers about $109 million so far. That’s $4 million more than former president Barack Obama spent on golfing in eight years.

    Fake news. I know.

  60. The Great Pumpkin says:

    Like what difference does it make with an etf? Is he advocating that people abandon the market and not regularly invest? Lost me. Think he is overthinking this.

    “Burry, who made a fortune betting against CDOs before the crisis, said index fund inflows are now distorting prices for stocks and bonds in much the same way that CDO purchases did for subprime mortgages more than a decade ago. The flows will reverse at some point, he said, and “it will be ugly” when they do.

    “Like most bubbles, the longer it goes on, the worse the crash will be,” said Burry, who oversees about $340 million at Scion Asset Management in Cupertino, California. One reason he likes small-cap value stocks: they tend to be under-represented in passive funds.

    Here’s what else Burry had to say about indexing, liquidity, Japan and more. Comments have been lightly edited and condensed.”

  61. The Great Pumpkin says:

    Well, it seems that he tries to justify it by claiming he donated his paycheck to our govt.

    Libturd, still in Union, mainly on Thursdays, soon to be daily. says:
    September 4, 2019 at 1:02 pm
    Trump has been at his own golf courses on 213 days during his less than three years — 957 days — as president, and has charged taxpayers about $109 million so far. That’s $4 million more than former president Barack Obama spent on golfing in eight years.

    Fake news. I know.

  62. Juice Box says:

    SRS those were the days.. as with any trade know your limits, the exposure to derivatives
    is what you get with these inverse ETFs and when lighting strikes it strikes and it isn’t today.

  63. The Great Pumpkin says:

    “Massachusetts has come out on top in the last few years. But, this year New Jersey pulled slightly ahead in a “photo finish,” according to the ranking.

    It is the first time New Jersey has ever ranked No. 1 in Education Week’s analysis. The state scored a grade of 87.8 — or a B+.”

    https://www.nj.com/news/2019/09/nj-has-the-best-public-schools-in-the-nation-ranking-says.html

  64. Juice Box says:

    Fking joke’s on everyone that follows this golf nonsense and complains. Golf isn’t about the game it’s about who you get to network with. Out of the three hundred plus rounds of golf during Obama’s presidency only a handful were with a fellow head of state or politician.

    Barry really fooled you all, he was never going to be working day in and out for you, he was busy networking with the rich and famous figuring out his next gig as Hollywood producer and he now lives on Martha’s Vineyard during the summer as he wheels and deals to stay in as an influence in pop culture.

  65. Against The Grain says:

    I’m sure this is fake news, probably financed by Soros:
    https://trumpgolfcount.com/

  66. Libturd, still in Union, mainly on Thursdays, soon to be daily. says:

    I don’t blame him. He was smarter than the rest of us.

  67. Libturd, still in Union, mainly on Thursdays, soon to be daily. says:

    I’m actually surprised he knows how to play golf.

  68. No One says:

    Chifi,
    Thanks for the heads up, if progressive reviewers hate Chappelle’s special, then I’ll watch it soon. Before it gets taken down by the PC police.

    Google pushed me some article this morning whining about the 20 year old South Park Movie and episodes from the 90s that hurt their wittle feewings, and worries that South Park is slowing down the 100% progressive permeation of all media (even though in my opinion, South Park has sadly moved more PC the past couple of years)

  69. Libturd, still in Union, mainly on Thursdays. says:

    How the heck has Family Guy survived?

    I adore that show. As well as most of the spinoffs too.

  70. No One says:

    Chifi,
    Loved that Paglia piece. I don’t always agree with her but she’s such a spirited and independent thinker, she’s bound to say something provocative and interesting.

  71. Juice Box says:

    Robot Chicken starts again on Sept 29th for another 20 episodes.

  72. Blue Ribbon Teacher says:

    I saw Chappelles stand up last night. It was good and better than ever. The outrage is so transparent that nobody should care.

  73. chicagofinance says:

    The Chappelle stand up is erratic. However, when it hits, it truly delivers….. regardless, the overall vibe is refreshing, if not simply just classic……

    No One says:
    September 4, 2019 at 2:20 pm
    Chifi,
    Thanks for the heads up, if progressive reviewers hate Chappelle’s special, then I’ll watch it soon. Before it gets taken down by the PC police.

  74. ExEssex says:

    Chappelle is good people .

  75. ExEssex says:

    And yeah, it was an honor for those boys to take Michael Jackson’s pointy man penus.
    Cause talent & money mean everything in these United States of Pedo’philia.

  76. ExEssex says:

    “Don’t watch it. It’s f–ing gross.” Although Chappelle says he doesn’t believe the accusers, he imagines a scenario where Jackson is guilty. “I mean, it’s Michael Jackson. I know more than half the people in this room have been molested in their lives, but it wasn’t no goddamn Michael Jackson, was it? This kid got his d–k sucked by the King of Pop. All we get is awkward Thanksgivings for the rest of our lives. You know how good it must have felt to go to school the next day after that s–t?” says Chappelle.

  77. crushednjmillenial says:

    I am browsing high-end real estate to wind down from the day. Came across this listing in Livingston of a house with a $103,240.00 annual property tax bill.

    https://www.realtor.com/realestateandhomes-detail/16-Grasmere-Ct_Livingston_NJ_07039_M50526-58219#photo0

  78. Yo! says:

    Crushed, asking is well below 1996 sale price. All that frivolous ornamentation requires a lot of maintenance, in addition to the property taxes, which continue to rise as value falls.

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