From CNBC:
Home price gains heat up in August but slow in major markets, S&P Case-Shiller index says
Home prices are heating up again on a national level, but some of the largest cities are lagging. That may be due to already overheated prices in those cities as well as new tax laws that limit the amount of deductions homeowners can take.
Prices rose 3.2% in August, up from the 3.1% gain in July, according to the S&P CoreLogic Case-Shiller National Home Price Index. Prices in the nation’s 10 major cities rose 1.5%, down from the 1.6% gain in July. On the index’s 20-city composite, prices were 2% higher, unchanged from July’s gain.
Seven of the top 20 cities reported greater price increases in the year that ended in August versus the year that ended in July.
“A shift in regional leadership may be underway beneath the headline national index,” said Philip Murphy, managing director and global head of index governance at S&P Dow Jones Indices. “Phoenix saw an increase in its YOY price change to 6.3% and retained its leading position.”
Las Vegas, however, dropped from number two to number eight among the cities of the 20-city composite, falling from a 4.7% annual gain in July to just 3.3% in August.
“When you look at how gradually home prices have been going up lately, the rate of appreciation is more like what we considered to be normal for many years. In past decades, when prices went up by 3 to 5% per year, we thought that was pretty good appreciation,” said Janet Carpenter, president of the Greater Las Vegas Association of Realtors. “With demand staying strong and our local housing supply remaining tight, I wouldn’t be surprised to see this trend continue into the foreseeable future.”
Good Morning Jersey.
Anyone know of a good lawyer to sue BCBS?
First..guess Blumpy is busy teaching kids about the history of Wayne’s great real estate value
This should help area. Economy is a sham. Per Bloomberg..
JPMorgan Chase & Co.’s new Manhattan headquarters is meant to be an ode to both the company and the city — a monumental glass-and-steel tower that says the nation’s largest bank grew up here. But New York may be losing its luster.
Despite more than two centuries of history in a city synonymous with the global financial industry, JPMorgan is quietly shrinking its workforce there. The bank’s been building up its presence in other locations and is now considering relocating several thousand New York-based employees out of the area to help rein in costs ahead of a possible economic downturn, according to people with knowledge of the bank’s strategy
Damn Lib…must have been millisecond..like Trump’s foreign policy thought decisions.
So the Harvard-costing intensive BCBA schools reaches out to my insurance to make sure that BCBS of MN will cover their portion (which is less than half when it’s all said and done) of D’s education and they say they will. The school submits the first month’s bills, which equal enough to buy a small new Japanese car, and they outright reject the claims as they say they don’t cover mental health.
Believe me. You will change your tune about the need for universal coverage the moment you have a major health issue to deal with!
In other news, I’m 100% certain Trump will lie about how well his tax cuts have worked to help the economy as we now sit on the precipice of a major recession which is only being delayed by a politically-motivated FED that accommodates the buffon in chief almost nearly as much as they accommodate the banks who someone who can’t stand on their own two feet without a daily influx of treasuries.
https://d3fy651gv2fhd3.cloudfront.net/charts/united-states-gdp-growth.png?s=gdp+cqoq&v=201910301240V20190821&d1=20090101&d2=20191231
That chart is the US GDP growth. Heck of a job Trump is doing there.
Here’s another fun one.
https://public.tableau.com/views/RichestAmericanin2018Worth31TimesasMuchasin1982/Dashboard1?:embed=y&:embed_code_version=3&:loadOrderID=2&:display_count=y&publish=yes&:origin=viz_share_link
NJ loves sending ineffective losers to DC. No platform and not influence so they try to make their name being a party hack. Take bribes and kickbacks and get caught and nj will re-elect you. Can’t win an election so try to rig the impeachment.
Sherrill, Malinowski, Kim all worthless. How is restoring the SALT cap going?
Today’s headline article is econ 101 on how markets operate. All the major markets have hit their peak, and what you will witness now is spillover. Once these second hand areas are no longer a major value in comparison to the most desirable market areas, you will see the top markets rise again. It’s only a matter of time…
Bystander says:
October 30, 2019 at 8:30 am
First..guess Blumpy is busy teaching kids about the history of Wayne’s great real estate value
Good Morning Jersey.
Anyone know of a good lawyer to sue BCBS?
At one point, BCBS made an error with my father’s billing and just stopped paying the bills he sent out to them for services. Basically, it was a typographical error where some secretary typed in a wrong number somewhere. He was a “participant” with their insurance. The amount billed spiraled to $250k of unpaid bills (that’s after accepting 15% as full payment) before my father tried taking legal action. Seems like an open and shut case, computer error results in $250k of unpaid bills. No lawyer was even willing to touch it on contingency because they didn’t want to go up against BCBS’s army of lawyers.
State Insurance Commission may be an option.
Lib,
That first chart looks good.. steady and consistent output. It demonstrates stability and balance. My company’s performance and my personal assets reflect as such.
As for the 2nd graph illustrating the top’s net worth, good for them. We go as they go. Why keep pining and whining over some income gap. Make more money if your current income isn’t enough. Sorters and packers in warehouses are offering around $15 per hour. Get 12 hours part time per week and that’s about an extra $7,200 per year. Tutor somebody a few nights per week… drive an uber on a Saturday. What’s the issue?
Of course, but then when we go universal we will complain about the service. Can’t win, nothing is perfect, just have to settle for somewhat functioning. Thank human nature.
“Believe me. You will change your tune about the need for universal coverage the moment you have a major health issue to deal with!”
re: Universal heath care.
Be-careful what you wish for. My uncle in Ireland who is 84 yrs old needed a toe removed due to diabetes, wait for surgery was 4 months. He was sent home next day too, no real followup locally either do to lack of services. That is one recent story, I have many many others including a preemie with multiple health issues who was left to die because of lack of services under their universal heath care.
US spends 18 percent of GDP on heath care today that does not cover everyone. Twice the rate of the developed world per person about 3. 5 Trillion total, really a massive amount of money.
I am not the one getting rich on healthcare, but I am not so sure socializing it with Health Care for all with the same 3.5 Trillion in spending. Doctors and really everyone in the Medical Field will have to take massive pay and benefit cuts or it may just push services and support for everyone down to bare minimums, and when you really need it, like a medical airlift to level I trauma center you won’t get it as it may no longer exist.
We could pull the plug on old people and give their heath care to the young who have no coverage instead but right now that is 3rd rail politics especially with the Boomer Locusts running the show now and running for election. A 79 year old with a heart condition, sure run for President, a 77 year old with early onset dementia, sure run for President. A 74 year old President who gets his jollies by bulling everyone, sure run for re-election.
Eddie,
On the first chart, the GDP is smoother under Trump, but not greater in totality. Not what his tweets will for sure. Then he’ll scream fake news at ever non-conservative news outlet. Yes, I expect all of the news outlets to be a bit persuasive. But Trump’s strategy is essentially to lie so many times about the same things that eventually people think it’s true.
As for income inequality. The ability to work hard and succeed is becoming a smaller and smaller possibility as the spoils of the entire workforce are more and more going to the top. You do not want to see this country when the middle sinks into the lower. I’ve seen such places in the world. A good example is Ensenada Mexico. You have gorgeous homes up in the hills and fancy restaurants and bars down in the city. But don’t dare walk to those restaurants without a security detail after dark. Sure, a few impoverished kids will make it out of their tin roofed stalls through hard work and education. But that group will eventually become so large that you can’t even go to those restaurants and markets during the daylight for fear of kidnapping, robbery, etc. Hardly seems worth it to me when just a little bit of non-greed from the ultra rich, can make it much more likely that THIS won’t happen. Nah, more important to have a second yacht.
NJ prof: NYC cognitive non-routine workers (smart people) should subsidize idiots who must be shipped out of town.
https://www.richmondfed.org/-/media/richmondfedorg/publications/research/working_papers/2019/wp19-16.pdf
Juice,
I have French relatives and they have no issue. Do not ignore that the wealthy will still have supplemental options. But using my son as an example. Glen Ridge did him no favors. As a matter of fact, he showed almost no progress in two years of education. This is without exaggeration. In one month of intensive ACBA at his current educational outfit, he is now potty trained, doesn’t find school traumatic any longer and wants to go, he knows his address, my phone number, has all of a sudden developed comprehension skills (which I always knew he had), 1000% improved soc1al skills, etc. The list is endless and truly unbelievable. The teacher who founded this center used to work in the public school system in special education (Morristown, I think). The state mandates made it impossible for her to do what she knew is needed to perform miracles on autistic children. Her curriculum could save the state hundreds of millions of dollars as so many of her students end up mainstreamed as she reduces their barriers to learning. It’s expensive and staff intensive, but most kids go through in one or two years. At the most, three. Hell of a lot cheaper than sending every special needs kid to a mediocre private school for 12 years at 80K per year to receive a mediocre education. But hey, what do I know. I’m just a taxpayer.
Juice and others, I see your anti bureaucratic stance too. We need reform and soc1alization of basic rights and services. The reform is where we will always fail as long as we continue to allow big business to buy our government. I give the old man Sanders a lot of credit here. No PAC money ever. His average donation is piddly. No $1,000 plate dinners. If he could get to where he is today without being paid for and with no self interest. It would be really nice to see what he would/could do in DC. The truth is, there in nothing dirty/corrupt about him. You have to make sh1t up to knock him, which the major parties are doing. He made a million on his book and gave little to charity. Big effin’ deal. I can guarantee you his piddly charity as a percentage of his total wealth is 100 times of what the egoist in chief gives. The other knock is that he has three homes. I have two, big whoopdeedoo. There are still rich and poor under democratic soc1alism. The difference is that the megalomaniac with 1,000 homes has to reduce that number to 900!
Y0! Nice paper. Reminds me Gattica. Since it’s almost Halloween I will add beware the man with a hyphenated last name. Esteban Rossi-Hansberg is a Mexican American Professor at Princeton, he parents probably picked vegetables and his grandparents were prob some immigrant farm workers too.
Now he researches for/about segregation of the inferior, nice ivory tower that must be. Workers capable of doing the complicated cognitive non-routine tasks don’t need to live in cities, we have the internet.
Do they bus in the people into these “Cognitive Hubs” to cook food and and clean toilets and do they need papers to travel and must be out by sunset?
Turd – my youngest has developmental issues as well, not as severe but I do understand where you are coming from as I am dealing with our school system and have been though their mandated AIP processes. Sue their ass and fight the good fight.
As far as curriculum that could save money. Just look at what the common core mandate does. Government wastes money and will always waste money so lets give them more money and more responsibility and hope it turns out better and sue them if it doesn’t. That really is our only recourse.
I like Bernie, if he gets in I am going to enjoy the fireworks.
Yo!
My brain hurts from reading that, though it does make sense. Where I am lost though is in the lack of job creation in the smaller cities. Who is paying their lower salaries? Yeah, a subsidized income would have to come from the smarter richer people. Think they’ll pay, even though it will benefit them? Hell no! Greed again.
Good debate today. Now I must get some work done. Go Nationals. The baby shark thing is hilarious. Verlander is cursed.
I think you guys are attributing more power to the ultra-rich than they actually have. There are basically a few hundred people who founded or inherited companies that thanks in part to ultra low rates, have made them very rich on paper. All it really means is that their stake in a company they run is very big. If those valuations hold up, which they don’t always, the money will get spent, donated, etc.
The organizations you guys complain about the most, like hospitals, insurance companies, banks, and schools are not really controlled by a handful of super-rich people. They are either actual government bureaucracies, or they are massively-regulated corporate entities that are substantially steered by government, and because of that high government regulation, there is minimal entrepreneurialism and maximum bureaucratic relationship-building, because that’s how those companies get by. So people learn how to game the system, whether it’s overpaid school admins to bloated healthcare bureaucracy. We should be wishing that there was less regulation, and that there would be entrepreneurs getting super rich by shaking up the status quo – it would be great to have an Amazon shake up education or a WalMart transform healthcare – these companies made some people rich because they made their industries better and more efficient.
Instead the envy-mongers of the left and right have convinced people that “the rich” are to blame for everything and we just need more regulation, more redistribution, more bureaucracy. It won’t be better, it will be worse.
Apart from the Insurance/Health Oligopolic rent-seeking complex which is 80% of the opposition . The one reason a lot of people are afraid of it and accounts for 20% is that you will have to write down true societal values and believes.
As a society right now we don’t deal with it, because it gets taken care by “the access gate”. No insurance or crappy one, well no life saving medication or procedure for you, just go to the corner and die off will you. Or if you happen to be at the right magical age of 65+, no expense or procedure is denied, if your love one are afraid to make a decision, until the heart refuses to beat one more beat.
So what do we truly value? A 85 year old dementia nursing home patient getting a knee replacement? A 75 yrs old ALS patient going on 5th year of ventilator dependecy in a long term ventilator unit of a nursing home?A lifetime supply of chronic oral anticancer medication for a 18yrs old? A lifetime supply of anti-HIV medication for a reckless gay party guy, who should have known better and wear a prophylactic? A lifetime of special ed and care for a toddler survivor of brain cancer?
No One,
Just remember the latest gift that your dream of “deregulation and captive regulators” brought you. Are you going to fly a Boeing 737 MAX?
I support death panels. Heck, I have a super old dog that is dying that I can’t even put out of his own misery for every vet wants to try to extend his life further, even though he is already 2 to 3 years past his expectancy. I really wish I had a gun. I’m this close to asking a friend of mine if I can borrow his piece just to put the dog out of his misery. I’m pretty sure my dog has a combination of the human equivalent of Lou Gehrig’s disease and cancer. He is skin and bones now and has had diarrhea for a week. Every morning, I spend half an hour cleaning the kitchen floor as he can’t poop at will anymore. I have a vet appointment on Friday where my vet will yell at me for not bringing him in for his annual check-up and getting all of his vaccinations at Vetco (for 1/3rd of what the vet would charge). Then I will pay anywhere between $1,000 and $1,500 to find out he has cancer and is dying, but is not suffering. He will be prescribed another $500 in treatment and then will die a couple of months from now anyhow to which I will owe another $500. I just want him put to sleep and disposed of. I’m sick of cleaning up diarrhea and the dog must be sick of making it. I called around and no vet will off him without a consultation with his regular vet. And you wonder why we put new knees and hips in every 90 year old senior.
When it rains, it pours.
By the way, I am not heartless. I got more mileage than most out of my dog. It’s time.
You could eliminate all the curriculum purchases, and “director’s of curriculum” and just hire competent teachers to develop their own curriculum. Most of us do it anyway. There are all these documents out there filled with nonsensical standards that make no sense. A good teacher ignores all that nonsense and just designs one on their own that makes sense.
The problem is, elementary, and to a lesser degree, middle school teachers follow their leaders like blind sheep and if they are told to adhere to something ridiculous mandated by the state or the DOE, they will.
Wed,
Air travel is safer now than it’s ever been. Travel broadly is safer, faster, and more comfortable than it’s ever been in history. Thanks to capitalism and companies like Boeing. Who can still make mistakes. Play the game “The Oregon Trail” for some perspective on what it was once like to cross the country.
I’ll fly on a Max when it’s fixed. You and Bernie can try to fly on some old Aeroflot Tupolevs for another honeymoon in Moscow for comparison.
Dogs: last year our dog was put to sleep about 2 hours after diagnosis for a blood auto immune disease, he was only 9.
The problem is, elementary, and to a lesser degree, middle school teachers follow their leaders like blind sheep and if they are told to adhere to something ridiculous mandated by the state or the DOE, they will.
Wait until you see what happens when we have federally mandated universal healthcare.
“Wait until you see what happens when we have federally mandated universal healthcare.”
I’ll be watching from afar anyway. You can all come down and see the pura vida healthcare system in action. It helps that the government is significantly less corrupt down there.
Lib,
My little one has ASD. He turned 3 a little while back and has been in behavior therapy since 15 months (mostly). We just started him his preschool to get socialization and OT/PT but I pay for 15 hours weekly (3 hours M-F) ABA therapy. Lots of significant strides but we went to intensive ABA clinic for evaluation and they really believe he needs 35 – 40 hours and will have a good shot at normal school by 5. This was in NJ but no center in CT so trying to figure it out. He is verbal, hyperlexic and understands questions very well but sensory and socialization are real struggles. Anthem BCBS has covered our ABA sessions and second evaluation. Pretty pleased so surprised about your battle.
I have a call with his school and insurer tomorrow. Should be fun. Thanks for sharing. Mind blown that schools don’t have a friggin’ clue about administering an ABA program.
This is not meant to be a personal attack, but just making a point.
Are you really going to take this position after complaining about high taxes in this state? They are trying their damn best to control costs, that’s why they are playing hardball with you. But blame the teacher salaries and not the cost of educating the children.
“But using my son as an example. Glen Ridge did him no favors. As a matter of fact, he showed almost no progress in two years of education. This is without exaggeration. In one month of intensive ACBA at his current educational outfit, he is now potty trained, doesn’t find school traumatic any longer and wants to go, he knows his address, my phone number, has all of a sudden developed comprehension skills (which I always knew he had), 1000% improved soc1al skills, etc. The list is endless and truly unbelievable. The teacher who founded this center used to work in the public school system in special education (Morristown, I think). The state mandates made it impossible for her to do what she knew is needed to perform miracles on autistic children. Her curriculum could save the state hundreds of millions of dollars as so many of her students end up mainstreamed as she reduces their barriers to learning. It’s expensive and staff intensive, but most kids go through in one or two years. At the most, three. Hell of a lot cheaper than sending every special needs kid to a mediocre private school for 12 years at 80K per year to receive a mediocre education. But hey, what do I know. I’m just a taxpayer.”
Pumps re: “They are trying their damn best to control costs”
They are and they call it . “It’s the way we do things”. You do need five people to make sure that the guy’s digging the hole on the side of the road is doing it correctly, its a safety thing.
In Education it’s call “It’s for the children!”
Juice,
Think what you want if it makes you feel better.
Last weekend the Washington Post changed an appalling headline after readers expressed their disappointment. But the paper’s bizarre obituary for terrorist Abu Bakr al-Baghdadi may still need a rewrite.
The original Sunday morning headline on the Post’s website said: “Abu Bakr al-Baghdadi, austere religious scholar at helm of Islamic State, dies at 48.” On social media a wave of satirical headlines soon followed with various Twitter users pretending to announce the passing of the noted vegetarian Adolf Hitler, among other historical figures.
Pumps – “It’s the way we do things” holds true for NJ especially today they only place in the world where they toilet paper and toss eggs just because tomorrow is Halloween. It’s Mischief Night and I know where you live.
A friend told me they call it Cabbage night in Bergen..wtf?
Grew-up in BC, Its was cabbage night.
Wait that obituary vis what they actually wrote?! I saw it on someone’s feed and thought that was satire.
It was cabbage night in Bergen County. The name actual makes historical sense if you look at the history of it.
Goosey Night, Mischief night, Cabbage Night or in the case of this blog Pumpkin night. I can make a air cannon to fire small pumpkins who has a van and is up for a trip Wayne tonight?
My dog and his diarrhea has made my property a mine field. You need a map to walk around the house. Please feel free to goosey away. Just don’t do it in nice shoes. You’ve been warned.
Cool. Wipe it on Pumpkins before hitting Wayne.
Check out this absolutely astounding video I found when looking for a starter slot car set for the D.
https://www.amazon.com/vdp/a99e911e3db9464880002d00f5c947a3?ref=cm_sw_em_r_ib_dt_6TU5aWA06PFWB
Lib – I had a similar Mattel type slot set back when I was a kid in the Bronx. My brother was so jealous he stole the cars and tossed them out. I think I got him back years later when I stole his GF.
Juice/ Lib I had the Matel and Hotwheels track too!
Oh yes: https://youtu.be/0SUC8sdP5eI
Oh my: https://youtu.be/kn-8n4QKUS4
Anki overdrive is the new slot car. Uses AI.
Had first year hot wheels including the 1967 merc cougar that I loved! Also had AFX Le Mans, flame thrower set (headlights, lol)
Lol. Suddenly the democrat party is too radical even for oblama. I guess he doesn’t want history to blame him for being the guy who brought us 8 years of trump. Which of course he is with all of the pc crybaby shlt he encouraged.
Throw the defective people a few social engineering bones and steal everything that isn’t nailed down behind the scenes.
I was a full blown democrat. That party abandoned me. Hope they can see the light and bring me back.
PatrioticHillbilly says:
October 31, 2019 at 8:24 am
Lol. Suddenly the democrat party is too radical even for oblama. I guess he doesn’t want history to blame him for being the guy who brought us 8 years of trump. Which of course he is with all of the pc crybaby shlt he encouraged.
Throw the defective people a few social engineering bones and steal everything that isn’t nailed down behind the scenes.
I have zero allegiance to either party right now. I will only vote in self interest. The lesser of two evils.
Something does not add up with this market.
Three straight rate cuts during a supposed booming economy? And market doesn’t even respond? Same booming economy can’t handle itself without 120 billion in QE per month. All of this after Trump handed corporate America nearly a trillion dollars of which they used to buy back shares to enrich the rich even further. All of this deregulation, tax repatriation breaks, and tariffs to encourage onshore manufacturing and the best we can do is create a sh1tload of entry level jobs that noone wants? If the Trump economy was creating REAL jobs, you would see REAL wage inflation due to shortages in skilled workers. Not seeing it. Seeing huge recession coming instead.
Mark my words. Trump will gift another trillion if it looks like he is going to lose in 2020. Now you can blame Obama for working slowly. But he led us out of recession. Not into one. And for a lot less $.
I am not alone.
https://www.investopedia.com/why-stocks-will-plunge-18-by-year-end-despite-fed-rate-cuts-4774639?
“U.S. stocks opened mixed Thursday, with the S&P 500 and Dow extending losses from pre-market trading following reports that Chinese officials doubted whether a trade deal would get done.”
Would you make a deal with a compulsive liar? Look at the Kurds. Look at his taxes. Look at nearly every word that comes out of his stupid pie hole.
9:47 …see?…no one cares
100% ignore the lying trolls posts. It’s really easy. Just don’t read them. I skip right over them. Haven’t looked at a single post of his in weeks. If everyone did the same, he would crawl back into the rat hole he came from.
Just ignore him.
Curious, what kind of pay upgrade would it take for you accept role that adds 2 hours a day commute (into NYC) and adds 8 more people as direct reports, in addition to major ownership of Agile framework rollouts, global operating model definitions/change etc..
Thinking 40k is just not enough. It is NY life and about to turn it down and appears they are reaching down in level and salary. Never trust bonus numbers with recruiters.
Run! Maybe 60K more (not including bonus) and I would bite.
Yes, I was thinking 75k. Would be overseeing 11 PMs and overall IT governance of global marketing initiatives. Not a joke. They are offering VP role but can’t see how this is not director. No idea how their titles align at NYlifs. It is VP, D, MD? Probably turn down phone interview. They will not pay that much.
You know, I vaguely remember this one, but never really put it together….. don’t troll me on the website….. I just Googled and picked the one that made the point…. still pretty telling, no? What a piece of sh!t this guy is!
https://wattsupwiththat.com/2019/08/24/sea-level-rise-president-obama-just-bought-a-beachside-property/
PatrioticHillbilly says:
October 31, 2019 at 8:24 am
Lol. Suddenly the democrat party is too radical even for oblama. I guess he doesn’t want history to blame him for being the guy who brought us 8 years of trump. Which of course he is with all of the pc crybaby shlt he encouraged.
Throw the defective people a few social engineering bones and steal everything that isn’t nailed down behind the scenes.
Bitchez: https://www.youtube.com/playlist?list=RDcYqSgWFgGxM
Agggggain: https://youtu.be/bmSH7PZduYw
Chi, yes, yes he is. He is why I am no longer a democrat. After his first term I realized just how dishonest he was and how he campaigned as a change agent and was basically George Bush in black face. Hope and change, most transparent administration ever, he was going to stop the war….how’d that work out. President drone strike escalated almost every conflict we were in, and was involved in engineering revolutions throughout the middle east(we had “consultants” on the ground in Ukraine, Syria, Libya, Tunisia, etc). Nothing changed and the government was even less transparent truthfully the orange one is a POS but he is right that government agencies were weaponized for political reasons.
The incredible hypocrisy of telling people to watch their carbon footprint, etc then going out and buying huge homes with massive energy footprints in vulnerable coastal areas….I really question going into the white house basically broke and leaving with the money he has now. Even the Clinton’s don’t live as conspicuously as Obama, their home in Chappaqua is much more subdued than any of the palaces being purchased by the Obamas. At least Carter practiced what he preached, Obama wants all of us to eat gruel and live in cardboard box while he has 5 9000 sqft homes.
I’m sorry Trump is bad, very unpresidential, a blowhard and a liar. But he has been far more truthful and less deceptive than Obama. Obama told everyone he was honest and ethical, transparent…when he really was very deceptive and a subversive element.