Sorry JC, not good enough.

From JerseyDigs:

Study Finds Jersey City Will Add as Many Apartments as Manhattan in 2019

This entry was posted in Gold Coast, National Real Estate, New Development, New Jersey Real Estate. Bookmark the permalink.

122 Responses to Sorry JC, not good enough.

  1. dentss dunnigan says:

    First

  2. Yo! says:

    Based on where the homes are being built, New Jerseyans want to live in North Jersey apartments because that is where most of the new housing built. Suburbs with more developable land, such as Wayne, aren’t on the list. Apartment construction one of the bright spots in Nj’s economy recently. Congratulations to the municipalities issuing the building permits and the developers building the apartments. You are employing and housing thousands of people in middle class jobs and modern housing.

  3. grim says:

    Bergen County is giving Hudson County a run for it’s money…

    NJ YTD 5+ Unit Building Permits

    Bergen County – 1,371
    Hudson County – 1,485

    For Hudson County – the majority of permits issued (965) – were to Bayonne, not Jersey City, Hoboken, or the rest of the traditional “Gold Coast”.

    For example.

    Hoboken, Hudson – 65
    Bergenfield, BC – 139
    Park Ridge, BC – 240
    Wyckoff, BC – 190

  4. grim says:

    2018 Full Year had Hudson at 3,096 and Bergen at 1,810 – so it’s clear multifamily is accelerating in the suburbs in 2019, and flat/decelerating on the Gold Coast. Extrapolating out, Bergen should end the year somewhere around 2,700 5+ unit permits, to just under 3,000 for Hudson.

  5. grim says:

    Go back only a few years, and you’ll see what a stark change it’s been. Look at this acceleration.

    Bergen County 5+ Permits
    2009 – 190
    2010 – 474
    2011 – 975
    2012 – 1,761
    2013 – 1,736
    2014 – 2,226

  6. grim says:

    Daughter home sick from school today, had a fever last night. If she’s feeling better we may take the ferry into lower Manhattan this afternoon.

  7. Fast Eddie says:

    … so it’s clear multifamily is accelerating in the suburbs in 2019

    It was fun while it lasted. I’ve been enjoying the area. It’s the reason I moved where I did. When and if I sell, it won’t be because I’m looking for profit, it’ll be because I prefer the quiet, leafy surroundings when I bike ride, hearing kids playing in the distance, manicured lawns and a taste of old style Americana.

  8. Libturd, wondering if the only real rally is the one by the Mets says:

    “Can’t wait for the Chinese to overthrow their government”

    I’m not sure when it will happen, but you can bet your ass it will be lead by that spicy General Tso!

  9. 3b says:

    Fast with all due respect those days are gone. My generation was the last to see that. Stay at home Moms, lots of coaches and boy/ Girl Scout leaders packed pool club in the summer. It’s over now. It may be how you perceive it in your town but it will end there too.

  10. Wednesday MemberBerries says:

    Folks, give fast Eddie a break, he’s under the influence of MemberBerries.

    https://youtu.be/ndI9vkgw_1Y

    Here is an explanation of them.

    https://youtu.be/QM2zcv5AfaM

    However, I do worry for him. He seems to like this type of berry

    https://youtu.be/KMuj8VO5CWQ

  11. Wednesday MemberBerries says:

    Grim,

    Please release. Has South Park you tube links used as reply to Fast Eddie

  12. Fast Eddie says:

    3b,

    It’s not over yet. When I work from home, I see Moms walking the dog with and without the stroller from my office window. Other happenings tell me else-wise. I’ll know when it’s over.

  13. 3b says:

    Fast then yours is one of the last.

  14. The Great Pumpkin says:

    I promise you it’s not over. I’m not lying or making it up. That 10 year push back for the millennials just made it seem like this wasn’t going to happen anymore…not the case. People still want the same as they did in 1980. Their own home in a good school system where they can raise their family in a safe and calm setting.

    3b says:
    September 11, 2019 at 9:30 am
    Fast with all due respect those days are gone. My generation was the last to see that. Stay at home Moms, lots of coaches and boy/ Girl Scout leaders packed pool club in the summer. It’s over now. It may be how you perceive it in your town but it will end there too.

  15. The Great Pumpkin says:

    3b,

    Just understand 30 was the new 20 for millennial generation and everything will make sense to you. Great reccession, or better yet, the boomers pushed this generation back 10 years by closing over their opportunity to be grown ups. Whether by shipping their jobs, hanging out in their job till their 70’s, or pushing up the cost of education and housing…they screwed this generation for 10 years. Now, it’s all coming together…

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

    on a highway.

  17. abeiz says:

    haha! @ Lib

  18. leftwing says:

    Crazy stats on Bergen Co.

    Not overly familiar with the county. I understand Bergenfield. Park Ridge and Wyckoff? Aren’t they a little far out? Lots of municipalities between there and midtown for multis…Hell, unless google maps is returning the wrong locale Park Ridge is basically in NY. Why multis there?

  19. Blue Ribbon Teacher says:

    Great interview on the China issue with an American CEO

    https://www.youtube.com/watch?v=ETqvUi3llTo

  20. Fast Eddie says:

    Build a bunch of apartments and get more tax revenue? Isn’t that the idea? Is there another reason?

  21. joyce says:

    Mount Laurel

  22. 3b says:

    Pumps A rare response to you. 30?? It’s older than that median age of first time home buyer now is supposedly 46!! And I don’t think number is that off. As for wanting the same as 1980 I don’t think so 40 or older today for first kid for many birth rate declining, one and done for many and of course two incomes to do it. As for high housing costs you are a cheerleader for that now you are changing your mind?

  23. The Great Pumpkin says:

    I’m not a cheerleader for higher prices, I know they are inevitable for this area. Look at the stats Grim provided today on housing construction increasing year by year in northern nj. I told you this would happen. That everything inside the rt 287 corridor to nyc is long term gold.

    You and others were the ones claiming house prices would go down. That’s why I always was defending higher prices. To get it in your head that nj is not dead.

  24. Fast Eddie says:

    Member Berries,

    Cute links! :) I’m not sure I want yesterday per say… maybe a new version of what yesterday represented. It seems like we don’t have an identity any longer.

  25. The Great Pumpkin says:

    All this housing construction added to northern nj, yet no drop in housing prices…tells me all I need to know. Same thing with nyc, they added an insane amount of supply, and the market is absorbing it (some headaches, but still being absorbed).

  26. Bystander says:

    3b,

    He is just a clown’s fool who has
    S one kid and cold, alpha wife. He is too dumb to look around and see things plain as day. He needs to believe he is smart and his precious economist jerkoff material is true.

  27. ExEssex says:

    I’m pretty sure it’s over. The America that never was.
    Too many people understand now 1. How people with money are living 2. How they are not living.

    Thanks social
    Media.

    For now let’s all celebrate 9/11.

  28. ExEssex says:

    11:00 hurray for Alpha wives.

  29. The Great Pumpkin says:

    Bs. They would love to build in Wayne, but Wayne is trying its hardest to avoid it.

    Why do you guys act like Wayne is not that close to nyc and not desirable? There are over 50,000 people living in this town. Enough said..

    “Based on where the homes are being built, New Jerseyans want to live in North Jersey apartments because that is where most of the new housing built. Suburbs with more developable land, such as Wayne, aren’t on the list”

  30. JCer says:

    Apartments being built in NNJ suburbs it strikes me are targeting the older folks and younger people who may want to be there but cannot maintain of justify a single family. Seemingly there are a large number of single income families in suburbia, some rich people still exist. Also some families have one primary bread winner and a secondary earner making significantly less working closer to home for fewer hours.

  31. Fast Eddie says:

    Why do you guys act like Wayne is not that close to nyc and not desirable?

    No direct way in and out of Wayne. It felt like I drove forever to get to route 46/3/80/Parkway. I might as well have been in Kinnelon or Butler.

  32. Juice Box says:

    3b – re: It’s over now.

    Nah it’s just different, all depends on where you live. My neighborhood is full of stay at homes or work from home both men and women, we all meet up at the bus stop to chat, we are having a bock party in October. Kids ride bicycles, go fishing nearby and generally are kids, more organized activities to keep em safe. As far as boy/girl scouts who needs it? Full of predators, same with church predators. We have beach clubs with pools down here. They are all packed and have waiting lists to join, but who needs that? I have a oasis in my backyard no lifeguard needed, invite over a few neighbors when I feel like it.

    Major difference really is I see more Dads involved in the raising of their children, that was not the case before. Dad was at work all day and sometimes all night mom had to fend for herself.

    Life really is better down the shore.

  33. 3b says:

    Pumps last response before it’s back to ignore you. Prices have fallen if you bought in the last 10 years you are at best flat. They would have fallen more but the Fed put a floor under the housing market with low rates and thus helped screw the next generation. They will fall again.

  34. Fast Eddie says:

    Juice Box,

    +1

    That’s what I’m seeing and feeling until otherwise.

  35. 3b says:

    Juice sounds like my town 20 years ago. Enjoy!

  36. JCer says:

    Wayne……Passaic County and high taxes……..need I say more. It lives and dies as a value play vs. Wyckoff, Franklin Lakes, North Caldwell, etc.

  37. leftwing says:

    “Build a bunch of apartments and get more tax revenue? Isn’t that the idea? Is there another reason?”

    Not in any outer suburb I’m familiar with…mine is closer to NY than Park Ridge and approximately the same size. No way the tax revenue from high density housing offsets the costs especially if one has a half way decent school district (people piling three kids into a 2.5BR apartment…). We just tightened our zoning, no buildings over 2.5 stories. Anywhere. Including downtown business district.

    “Mount Laurel”. At 240, way too many units, unless the third graders were negotiating with the Court. We had multiple hundreds of obligations (can’t recall exact number, may have been as high as 600 units IIRC). Settled all claims for 52.

    Guess I’m just perplexed why buyer or municipality would want multi in what I’m presuming is a not built out quaint town of 8,000 on the NY border….Weehawken, I get. This…..?

  38. Mike S says:

    You may see people home because lots of people are working from home, but hardly working… I see it on my street all the time – they are working – but leave for hours in the middle of the day, walk their kid to school, etc… And these are probably low six figure jobs…

    The single income is dead for millennial – i don’t see how it is possible… i am definitely a top 5% for my age, and in the long run my wife’s extra income gives us the ‘lifestyle’ vacations, going out to eat, etc… mine pays for the regular expenses.

    Then again the average lifestyle is definitely at a much grander scale compared to 40 years ago. If you scale back your lifestyle to similar to 40 years ago, sure you can keep one partner at home.

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

    Member Berry is right about Wayne. When I have to drive to the Ice Vault for a game, it takes 25 minutes without traffic from the northern most point in Glen Ridge. Can’t more than 4 miles in a straight line. Oh right, that beautiful city of Latino gang crime gets in the way. I think they should rename Wayne, North Paterson.

  40. The Great Pumpkin says:

    It’s getting pretty safe to say that if you bought in the last 8 years, your home is worth more than you paid for.

    3b says:
    September 11, 2019 at 11:32 am
    Pumps last response before it’s back to ignore you. Prices have fallen if you bought in the last 10 years you are at best flat. They would have fallen more but the Fed put a floor under the housing market with low rates and thus helped screw the next generation. They will fall again.

  41. leftwing says:

    “If you scale back your lifestyle to similar to 40 years ago, sure you can keep one partner at home”

    Good point. Self fulfilling cycle. With mom at home and one income yes the kids were all over the neighborhood day and night running from house to house watched by the neighborhood women…they had to be. Hard to afford $20k of travel tuitions and lessons, nannies/babysitters and multiple cars to shuttle them around on one income.

  42. chicagofinance says:

    Libturd, seen crazy things done with ping pong balls. says:
    September 11, 2019 at 10:14 am
    on a highway.
    https://youtu.be/OFJ_yuKClME?t=97

  43. The Great Pumpkin says:

    Wayne is a great town in a great location. Can’t tell me otherwise. Like jcer said, it’s a huge value. It’s similar to all the nice towns jcer mentioned, but you get the huge discount because idiots think the county label improves their living standard.

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

    I have a friend whose daughter is going broke since she’s a competitive dancer. Can’t wait to see daddy’s face when he finds out that his 10K per year spent on dresses, private lessons, and practice space matures into a career for his daughter where dollars rain down.

  45. Wednesday MemberBerries says:

    Fast Eddie, you wrote ” It seems like we don’t have an identity any longer.”

    Milton Friedman’s is cynically right https://youtu.be/RWsx1X8PV_A

    However, his point of view takes out any social duties and obligations out of our roles in society. We all become consumers, capitalist, etc. Our role is called the role of “world consumer” within the global free market corporatocracy, except that the Chinese Communist Party and Putin are not playing their role of yielding to a corporate state.

    You chose Home Depot, WalMart over a Mom & Pop Hardware Store that supports the volunteer Fire Dept and Little League in town. By doing so, you wipe out social “identity”.

  46. 3b says:

    Pumps if 30 year agrees with you than I will concede your point. But I suspect you are wrong as usual.

  47. Libturd, misses real music says:

    I think I might cover this song Post Malone style.

    https://www.youtube.com/watch?v=DnkHf069fvA

  48. Fast Eddie says:

    Berries,

    I like Friedman. Good link, very logical in the questions he asks.

  49. joyce says:

    It takes out, or tries to, any forced obligations.

    Wednesday MemberBerries says:
    September 11, 2019 at 12:32 pm

    However, his point of view takes out any social duties and obligations out of our roles in society.

  50. Wednesday MemberBerries says:

    Here is a brainy around way of saying – how if there is no “community identity ” some members become destructive. He explains why with shrink talk.

    https://youtu.be/GHYVwnVbaxw?t=360

    So as much as Friedman, Ayn Rand et al have a way of thinking. Their way kills off “community identity” and what you are missing.

  51. Blue Ribbon Teacher says:

    Friedman was absolutely wrong in his belief that lowering trade barriers would force governments to raise wages and the standard of living. China has proven that assertion wrong…and “in the meantime, you’ve wrecked the country.”

    Free market purists mistakenly support “free trade” not recognizing that governments game the system. We have no control of the Chinese government’s policies, therefore, tariffs are the natural solution. Free trade should be allowed to exist internally within the 50 states. Anything vital, we are capable of functioning internally.

  52. Fast Eddie says:

    What would John Galt say? ;)

  53. Fast Eddie says:

    According to that Jordan Peterson link: “Part of the reason people want to tear things down is so they have nothing to contrast themselves against and to feel bad…because the fact that it exists, judges them.”

    The progressive movement in a nutshell.

  54. Bystander says:

    40 years ago a family probably had no credit card debt or student loan debt. Today, everything looks great on exterior but the interior financials are rotting. 25% apr on credit card, 50k year tuition? Two incomes and still swimming but it all looks nice if you don’t dig deep. I bought my home from two lawyers. They had to bring money to table to close. It was clear that they almost nothing down when they bought home. Their payoff was almost same as original purchase price..but they had custom light fixtures and drapes. Ended up divorced after moving to Denver .

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

    Agree By. Just under the surface, people are up to their eyeballs in debt. There are 12 members in my investment club. Nine of the members don’t have a pot to piss in.

  56. D-FENS says:

    My wife stays home. Quit her job years ago. It’s only over in 3b’s neighborhood.

  57. chicagofinance says:

    The pole, no?

    Libturd, seen crazy things done with ping pong balls. says:
    September 11, 2019 at 12:29 pm
    I have a friend whose daughter is going broke since she’s a competitive dancer. Can’t wait to see daddy’s face when he finds out that his 10K per year spent on dresses, private lessons, and practice space matures into a career for his daughter where dollars rain down.

  58. abeiz says:

    I always thought that my deep longing for community was left unfulfilled due to my being a dirty renter, so it’s refreshing to hear tales of same from those who did their patriotic duty of settling down.

    I don’t know my neighbors, my neighbors don’t care to know me, the only connections I make are at work and it’s clear that it’s every person for themselves. There’s less of this pretentious air about everyone in Europe’s homogeneous societies where the LCM isn’t salary and zip code.

    I had lunch with an executive who travels to Austria a couple of times a year and we both agreed that when one steps off the plane in Europe, there’s this feeling of community, catching up with people and living. Work can wait. Here I take the red eye back from LA and my initial perverse thought is sh!t I have to go straight to the office.

    The other thing that bothers me is that in the US your income more or less determines the quality of education your offspring receive. Elsewhere, you either live in a society that values it, and it’s provided at a very high level to everyone, or you do not.

  59. chicagofinance says:

    progressive conservative
    visceral visceral

    Fast Eddie says:
    September 11, 2019 at 1:15 pm
    According to that Jordan Peterson link: “Part of the reason people want to tear things down is so they have nothing to contrast themselves against and to feel bad…because the fact that it exists, judges them.”

    The progressive movement in a nutshell.

  60. chicagofinance says:

    the system responded to text as commands

    progressive / centrist / conservative
    visceral / logical / visceral

  61. JCer says:

    lib your friends daughter is going to realize there are the things you do because you enjoy them and then there is what you do to pay the bills. Most of us do not do the work we do because we love it, most of us do it because it it what we will be paid the most for doing. It’s just the reality. In all likely hood dreams get abandoned before the kid heads towards the pole.

  62. Juice Box says:

    r: – “The pole, no”

    Nope tinder “dates” is where it rains these days.

  63. Juice Box says:

    Housing Swap is the new VC funded startup trying to get a piece of the $74 billion of real-estate agent commissions spent annually.

    Don’t use a realtor swap your home instead.

    https://www.knock.com/

  64. 3b says:

    Defens you need the bucks to live in my Bergen county blue ribbon town!!

  65. Juice Box says:

    Mnuchin says Fannie and Freddie sweeps to Treasury to end soon and the money won’t go to shareholders even though the Government lost in appeals court last week.

    Seems his plans to privatize Fannie and Freddie (hand it over to his Pals) is derailed until the Supreme court takes it up.

    https://www.cnbc.com/2019/09/10/fannie-mae-freddie-mac-win-could-be-appealed-to-supreme-court-mnuchin.html

  66. Juice Box says:

    Speaking of housing startups. I got an unsolicited offer in the regular snail mail to share the losses and/or gains on my house from Unison whenever I decide to sell all interest free.

    https://www.unison.com/how_it_works_homeowner#ho-total-cost-calculator

  67. Bruiser says:

    Maybe I missed it, but why is “Brooklyn” listed as a monolithic neighborhood, whereas Jamaica and Astoria listed on their own instead of rolled up under “Queens”? Either break out all the neighborhoods in Brooklyn & Manhattan, or roll up all neighborhoods to their respective boros. Oh, I forgot. When dealing with real estate and millennials, it does not pay to compare apples to apples.

  68. GdBlsU45 says:

    School enrollment is plummeting in many towns. They do want the kids and the state funding and the tax revenue.

  69. NancySnona says:

    Good afternoon.
    My name is Julia.
    Looking for a guy to meet. I will come to your area or meet me. I live close.
    My address

  70. chicagofinance says:

    I grew up in Queens. It may very well be a Post Office thing….. each zip code in Queens relates to a specific neighborhood, whereas the other boroughs are all posted at the county level. All mail to Brooklyn is Brooklyn, NY….. Manhattan is New York, NY….. there is no post office location Queens, NY.

    Bruiser says:
    September 11, 2019 at 3:56 pm
    Maybe I missed it, but why is “Brooklyn” listed as a monolithic neighborhood, whereas Jamaica and Astoria listed on their own instead of rolled up under “Queens”? Either break out all the neighborhoods in Brooklyn & Manhattan, or roll up all neighborhoods to their respective boros. Oh, I forgot. When dealing with real estate and millennials, it does not pay to compare apples to apples

  71. chicagofinance says:

    Quote of the day: “Not the Antonio Brown come back story I expected.”

  72. Juice Box says:

    Chi – AB knew about the lawsuit before he signed with the Pats they should kick him to the curb now he is poison and I am not a Pats fan.

  73. No One says:

    Spending 10k per year on a kid’s dance lessons and costumes helps build “community identity”, and most of the spending is local. So I should be given some sort of community spirit award.
    I’ve done it for my daughter. I’m surprised at how much other families are willing to sacrifice to allow their kids to dance competitively. The $ cost is no issue for us, the main concern we have is the 12 to 20 hours of practice time required per week. Crowds out nearly all other extracurriculars. Too late to change now, she just started senior yr of HS. At least my daughter doesn’t delude herself into thinking it will be a career. She’s one of the prettiest dancers, and is fairly good, but far from great, probably 65th percentile among competitive dancers.

    What bugs me is that universities look down upon the dance styles that dancers and audiences like. The weirdos who get PhDs in dance and teach it in universities instead like dances about gender and race oppression and mental depression. While dance competition teams could easily qualify as a sport and thus Title 9 money and get more audiences, instead the academics prefer to focus on ballet and SJW dance where they can maintain their control over the department. So my daughter doesn’t want much to do with university dance degrees, plans to study business instead.

    A better strategy than pole dancing is probably to audition for cruise ship troupes, save some money on board for a season, and meanwhile find some wealthy older sugar daddy among the guests. Maybe the ships don’t allow that. Or just start a dance studio and repeat the cycle on the next generation.

  74. ExEssex says:

    I think a lot of these activities are developmental and give the kid a sense of community & competition. Sometimes healthy sometimes not. Either way these are a lot like playing a sport. Some kids even get scholarships. But then you are really in trouble. Though I know a woman with a performance degree from NYU who has been running online marketing firms for decades. But I digress.

  75. ExEssex says:

    “I grew up in Queens.”

    ——————————————

    That explains so much.

  76. The Great Pumpkin says:

    One of the best things you have ever said. Now if we can get our corporate lords to understand this, maybe they will understand why they shouldn’t be eliminating American jobs and creating them overseas. Cheap is not the only factor in this equation and I wish they could understand that. They have an obligation to take care of the communities they do business in, not because it’s forced, but because it is the right thing to do.

    No One says:
    September 11, 2019 at 4:40 pm
    Spending 10k per year on a kid’s dance lessons and costumes helps build “community identity”, and most of the spending is local. So I should be given some sort of community spirit award.

  77. joyce says:

    “While he isn’t banned from operating trains with passengers on board, arbitrators left that decision up to NJ Transit.“

    How long will it take for him to sue saying his new, lesser responsibilities are retaliation for past behavior in which he was “cleared?”

  78. joyce says:

    “Gallagher was suspended and later fired by NJ Transit on March 13, 2018, for failing to control his train, speeding and failing to stop for a red signal at the end of the tracks. As discipline for those rule violations…”

    Reckless operation of a locomotive is just a rule violation? If the average NJ driver could be so lucky.

  79. chicagofinance says:

    No One: mostly agreed. My daughter is 10 and we are at the $6,000 level/year currently. I don’t care about a career in it or studying in college. I care about helping her candidacy FOR college…… that’s so much of what I don’t understand with all of the denigration of youth activities….. I think most people understand that a scholarship is not in the cards. Who gives a fcuk? A student with a major outside interest is 10x more compelling an admit….

    No One says:
    September 11, 2019 at 4:40 pm
    Spending 10k per year on a kid’s dance lessons and costumes helps build “community identity”, and most of the spending is local. So I should be given some sort of community spirit award.
    I’ve done it for my daughter. I’m surprised at how much other families are willing to sacrifice to allow their kids to dance competitively. The $ cost is no issue for us, the main concern we have is the 12 to 20 hours of practice time required per week. Crowds out nearly all other extracurriculars. Too late to change now, she just started senior yr of HS. At least my daughter doesn’t delude herself into thinking it will be a career. She’s one of the prettiest dancers, and is fairly good, but far from great, probably 65th percentile among competitive dancers.

    What bugs me is that universities look down upon the dance styles that dancers and audiences like. The weirdos who get PhDs in dance and teach it in universities instead like dances about gender and race oppression and mental depression. While dance competition teams could easily qualify as a sport and thus Title 9 money and get more audiences, instead the academics prefer to focus on ballet and SJW dance where they can maintain their control over the department. So my daughter doesn’t want much to do with university dance degrees, plans to study business instead.

    A better strategy than pole dancing is probably to audition for cruise ship troupes, save some money on board for a season, and meanwhile find some wealthy older sugar daddy among the guests. Maybe the ships don’t allow that. Or just start a dance studio and repeat the cycle on the next generation.

  80. ExEssex says:

    Gisele Allard, the Harlem woman who’s already seen one of her buildings auctioned over a debt that started at $100,000 and ballooned to over $7 million thanks to a 25% interest rate, is expecting to see two more brownstones get put on the block before she gets a shot at relief.
The sale of 32 W. 120th St. and 239 Lenox Ave. is scheduled to commence Thursday and will be handled by Maltz Auctions, which has advertised the landmarked buildings on its website for weeks.
Another of her properties, 50 E. 126th St., has already been sold for $1.2 million. That building has been the source of years of headaches for Allard and is the primary reason she finds herself in her current predicament.

  81. Bruiser says:

    ChiFi, OK, I see what you are saying with regards to post office name, but the Zips part is untrue. There are a multitude of zip codes within the five boros; the Empire State Building is so large it has its own zip code. Any data scientist worth their title could easily break out the data by zip code and granularize it for Manhattan & Brooklyn, or roll it up under the “Queens” umbrella. Direct marketing campaigns do that stuff all the time, where they can do a reasonably good job finding their target demographics by analyzing zip code data and the purchasing patterns therein.

  82. Yo! says:

    https://www.rentcafe.com/blog/rental-market/apartment-construction-2019/

    This one has a chart breaking out the Brooklyn neighborhoods. A couple of things about the data: Multifamily completions are only 70% of starts, many projects are double counted by the data providers, and many developments in New York City, especially Brooklyn and the Bronx, are 100% affordable housing.

    Dance Dads, my daughter does dance and I can’t wait until she quits. The competition are ridiculous. Six hours long, she dances for 5 minutes, everybody gets a cheap trophy, and her trophy inevitably breaks on the ride home, causing tears. Prefer soccer and basketball – more running, more freedom, less coaching, games fun to watch, and we’re out of there in an hour.

  83. Yo! says:

    Correction: Completions are 70% of permits, not starts. Point is permits are viewed as a leading indicator but a lot of what is permitted isn’t built.

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

    Chi (from yesterday),

    Dancer’s family is mutt (whip/see if you can figure it out). The Pole daughter is a loud and proud lesb1an swimmer (came out in 9th grade). I give her until college to switch back to the c0ck.

  85. Bystander says:

    My niece is in LA and amazing dancer. She is 17, beautiful and sweet girl. Works very very hard. She has been competitive for at least 10 years. The mother is dance mom crazy and fully supportive. They have tried every angle, even part of teeny dance troupe that Disney looked at. She has danced at Laker games and I believe for Britney Spears. I am guessing that they are several hundred K in over 10 years, between competition fees, legal agreements, costumes, food travel. They have no money and have not come east once..the simply spend it all on her dreams. If she has not made it then it is simply way too hard to survive in that field. No idea what she will do in college. She has defined her young life by it.

  86. Juice Box says:

    Families easily spend a fortune on their little girls dreams down here. Just buy a horse, you can easily spend $1,200 a month on boarding. There is 1 horse for every 323 people in New Jersey or 27,658 according to the horse census.

    I have a cousin who’s wife owns a horse in Bergen County. That horse is more expensive than most kids.

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

    I need to open a dance competition.

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

    Scratch that. Better idea.

    https://youtu.be/V_bJf3foa5I

  89. Blue Ribbon Teacher says:

    This new “ban nuclear power” talking point is just odd on so many levels.

  90. chicagofinance says:

    Darnold has fcuking mono? WTF?

  91. chicagofinance says:

    I hate the whole current progressive agenda. Incredibly confusing to young people that are merely searching for relevance. A lot of wasted time and unfortunate things are happening…… ugly unattractive no-personality = unpopular and unhappy; presto, you are a gender neutral person => you are cool…..

    Libturd, still in Union, mainly on Thursdays, soon to be daily. says:
    September 12, 2019 at 10:06 am
    Chi (from yesterday),

    Dancer’s family is mutt (whip/see if you can figure it out). The Pole daughter is a loud and proud lesb1an swimmer (came out in 9th grade). I give her until college to switch back to the c0ck.

  92. chicagofinance says:

    I saw the same thing in high school……

    ugly fat nasty mean girls in NYC in 1980’s => shave one side of your head; bleach the other; buy clothes at vintage shops in SoHo on Broadway; steal bowling shoes and wear to school…… make a statement….

    Now the flavor of the day is to be a lesb!an….. whatever…..

  93. Juice Box says:

    re: flavor of the day

    Are the gender neutral pronouns out of style yet?

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

    I agree Chi. Was pondering what was the first major act of the progressive pussification?
    Who did the press turn on first?

  95. Nomad says:

    Chi,

    Read some stuff from Burry re ETFs which he says will be a big problem when markets correct. His example was Simon properties which has more than 50% of their shares owned by ETFs. Basically he thinks during a crash, not enough bids to cover sell volume and many more like Simon. Your thoughts?

  96. Juice Box says:

    Deflation is not happening in the EU, ECB is at it again with more QE. Perhaps if they cut out all that vacation time and actually worked they would not need it.

  97. The Great Pumpkin says:

    Nomad,

    I think Burry is overthinking this one. It’s a market, yes, when bad news hits volume will dry up….what difference does it make if people are investing through etf’s or picking them? Same effect happens when the bottle goes pop.

    I’m not as smart as this guy, but I just don’t envision what he sees.

  98. Juice Box says:

    re:” I think Burry is overthinking this one”

    Burry would only be proven right in a correction but it may not even matter.

    Here is my two cents. We are now past a 10-year bull market, longest ever! That cannot continue now for another 10 years or can it?

    Re-balance! The mistake most people make is not taking their gains especially after a long run. Where to put it you ask is the million dollar question.

  99. GdBlsU45 says:

    he’s overthinking it. Low interest rates have distorted all asset prices.

    But I would take an index fund over a negative eps lottery ticket when a recession is underway. There are so many companies priced at their maximum acquisition price which will never happen. So many worthless .coms paying their employees with speculators money instead of revenue.

    UBER has a $60B market cap and no profits.

  100. Juice Box says:

    Crazy times we live in. WeWork CEO got rich on the loans he took out. First 7 million from the company then 700 million from Wall St. He also bought more homes than most Billonaires own and has a “home office” for his investments. Not sure if he has a Jet parked at Teterboro but he isn’t flying commercial anymore.

  101. GdBlsU45 says:

    Israel caught spying on us again and nothing from Trump or fake news. Can we get an investigation into real foreign influence in our elections and not fake investigations fabricated by the dnc and the corrupt oblama administration.

  102. abeiz says:

    Chi,
    Refresh my memory, are you a wealth manager?

  103. Blue Ribbon Teacher says:

    Is there a link to Burrys thoughts?

  104. XRumerTest says:

    Hello. And Bye.

  105. chicagofinance says:

    It is not the ETF’s per se, but rather the way many are used (i.e. algo trading). I thought he also built the case that weighting by market capitalization creates distortions, because overuse of ETF’s will allow underlying fundamental value to stray from observed prices.

    In general, the problem with passive investing is the dilution of accountability in management and boards of companies, since the equity stakeholders are autonomic in lieu of critical and engaged.

    Nomad says:
    September 12, 2019 at 1:10 pm
    Chi,

    Read some stuff from Burry re ETFs which he says will be a big problem when markets correct. His example was Simon properties which has more than 50% of their shares owned by ETFs. Basically he thinks during a crash, not enough bids to cover sell volume and many more like Simon. Your thoughts?

  106. chicagofinance says:

    To be clear, I hate Vanguard, not because they are a competitor, but they are a poor community member. The took the correct focus, efficient use of resources and low costs, and have worn a cloak of valor, while creating a huge amount of danger for everyone. I would liken it outsourcing all your IT to India…. except you are outsourcing money management of a great deal of passive money to India.

  107. chicagofinance says:

    financial planner

    abeiz says:
    September 12, 2019 at 3:12 pm
    Chi,
    Refresh my memory, are you a wealth manager?

  108. Nomad says:

    Chi,

    What if markets start to tank heavily and the redemptions hit the ETFs that hold a disproportionate amount of shares of company “X”. Burry was saying something to the effect that there might not be a bid. Shares of “X” would plummet only to be stopped intermittently by circuit breakers during the ride down. At some point, price gets so cheap shares get bought because they are on sale. What happens when its not just “X” but several dozen other large caps. Know someone who built HFT platforms for some of the banks and asked him what happens during a major downturn given all the ETFs these days. The network and pipes don’t have the capacity, everything gets jammed up, mega cluster F

    What I never understood was the mechanics of how ETFs trade interday. If I sell a share of an ETF, do all the stocks in the ETF get sold when I hit the sell button or shortly thereafter?

  109. chicagofinance says:

    I get your point, but Burry is really focused on smaller markets….. SMID, non-US, fixed income…. bear in mind that arb sniffing algos are kind of catfish too…..

    I great Burry style example would be what happens when Ford/Motor Credit gets downgraded by one of the two remaining agencies to high yield. They are a huge investment grade issuer, and the ETF’s will need to rebalance ….. THAT kind of thing is a clusterfcuk

  110. chicagofinance says:

    Chappelle complement…… Bill Burr Netflix streaming….

  111. Blue Ribbon Teacher says:

    TY, I thought maybe Burry said something new.

  112. Juice Box says:

    Who drew Warren’s eyebrows?

  113. ExEssex says:

    Trump is a huuuuuge f’ing Schmuck that a lot of you shitheads voted for. Juice box, eat a big fat dick.

  114. Blue Ribbon Teacher says:

    Listening to them rant about tariffs….we need strong unions, paid family leave, health insurance, strong regulations…but we need to have 100% open trade with a nation that steals patents and information, pays their workers peanuts, manipulates their currency, and doesn’t care about pollution.

    This is the primary issue that workers need to be concerned with. Tariffs give domestic labor more bargaining power, it’s as simple as that. The left should have been all for tariffs the entire time.

  115. Juice Box says:

    That was some shitshow debate last night. It’s literally going to be a walk in the park for Trump.

  116. Juice Box says:

    Be Careful what you ask for. There are just a few dozen families that could wreck NY’s or NJ’s budget if they moved to Florida.

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