From the WSJ:
U.S. Pending Home Sales at Highest Level in Nine Years
A forward-looking indicator of home sales rose to its highest level in more than nine years in May, a sign the housing market is gaining traction after a shaky start to the year.
The National Association of Realtors said Monday its index of pending home sales increased 0.9% to a seasonally-adjusted 112.6, the highest level since April 2006. The index tracks contract signings, which usually close within two months.
The April index was revised down to 111.6 from 112.4.
Economists surveyed by The Wall Street Journal had expected a 1.2% increase in May.
“The steady pace of solid job creation seen now for over a year has given the housing market a boost this spring,” NAR chief economist Lawrence Yun said.
Monday’s index was “a little softer than expectations,” wrote Daniel Silver of J.P. Morgan in a note. “But the trend in the series still looks favorable, with pending sales up for five straight months through May.”
…
First-time home buyers also started making their way back to the real-estate market last month.But existing home sales, which account for about 90% of the market, are still well below their prerecession peak, when they routinely exceeded 6 million and even topped 7 million for part of 2005.
Prices have also been rising lately. The median price of an existing home last month was $228,700, or 7.9% higher than in May 2014.
“Housing affordability remains a pressing issue with home-price growth increasing around four times the pace of wages,” Mr. Yun said.
Pending home sales rose 6.3% in the Northeast and 2.2% in the West but fell 0.6% in the Midwest and 0.8% in the South.
Frist
Are we seeing our first dead cat bounce today? Shanghai up 5%? Did I read that right?
A forward-looking indicator of home sales rose to its highest level in more than nine years in May,
even though we having no inventory to show you.re #2 China’s PPT is off the beach, outright buying stocks……buy buy buy….
“Talk of putting a halt to the initial public offering (IPO) process helped spur some buying and it will certainly help mitigate the prospect of traders selling existing stock holdings to take part in the IPO process. There has also been talk of using the country’s endowment fund to buy equities, as well as cutting stamp duty, while the central bank has further cut the seven-day repo rate by 20 basis points to 2.5 percent”
So, I want to make a bid on a house. I wanted to for three days now. But, you need a pre-approval letter to attach to an offer. It’s part of the new normal (cough). But, the pre-approval is based on debt to income because everything is soooooo strict now (sarcasm intended).
Well, once upon a time, I theoretically sold my house a few years ago in a matter of days because I was told that no one likes contingencies in Unicorn land even though I didn’t need the proceeds for a purchase. So, I strung my buyers along for seven months while looking at p1ss-stained dumps until I voided the contract and was left with upset buyers. Ok, I told everyone my house would sell in days. Fast forward two years.
Now, I decided that I’ll carry two mortgages temporarily if I buy because I know that my house will sell quickly. I’m not selling first just to string someone along. Uh oh, remember that debt to income thing I mentioned? The new normal? So, as it goes, my debt to income wouldn’t carry two mortgages even though I HAVE ENOUGH F.UCKING ASSETS AND INVESTMENTS AND A PERFECT F.UCKING CREDIT SCORE!! You follow me here? I’ve been rejected for a pre-approval. LMAO!!
I can’t even get a f.ucking pre-approval because the “system” only allows a 50% debt to income max ratio. It doesn’t give a sh1t if you have zillions in reserve. Only alternative? Put a lot more down to drop the debt to income. But I shouldn’t have to put more than 20% down but…. this is the new normal my friends.
Moral to the story? Everyone apparently is renting with tens of thousands in reserve ready to pounce on their dream home. The market is approaching 2006 levels according to NAR muppets. Contingenices are taboo around here, remember?
Banco Popular Trust Preferred Shares says:
June 30, 2015 at 9:31 am
NJ schools are uniformly some of the best in the nation. All you need to do is ask touring educational companies what they see. The talent the shows up to their offerings creates the impression that eastern MA, NJ and suburban NYC are noticeably of higher quality.
In practicality what does that comment mean? Not so much the top 5-10 percentile. It is similar to the comments from Ben…….don’t bend over backward to get into the top NJ school districts. Most any town of reasonable quality will do. Obviously if you move to a joke town, you will be punished, but as opposed to the bulk of the US, the average town in NJ has a really solid shot of delivering the goods.
responding to this one
yome says:
June 30, 2015 at 8:29 am
Us Healthcare and NJ School excellence is over rated. Time and time again studies have been made. New drugs and new technology are not available in the US. When you go to live in a developing Country depends how deep is your pocket just like everywhere else. Difference is how little you need for the same procedure at a Top Hospital compared in the US, if you are Dollar denominated.
Just like DuckVader. He chose to send his kids to school at an IS. Which charges the same amount as if you are in a foreign Country. You can get a better education at a Top Local University for much much less. This local Universities produced Doctors,Lawyers,Nurses,Accountants ,Programmers etc that we use in the US and all over the World.
Again,if you live same as the locals,yes you might not have the same quality of care. But if you live with the well to do, you get the better care. Two sets of standard unlike the US
Eddie when you look up do you see a rain cloud following you?
Juice [8],
Is this not hilarious? It’s actually fun to go through the process and here the absurdity because it’s never the same. The level of counter-intuitive logic applied is a real-life example of how f.ucked up everything truly has become!
re #7 Sorry Banco,
It really makes a difference, specially around big academic medical centers.
In NJ, just like most of the country. For Heart Attacks you got the STEMI protocols. 12 lead EKG to see damaged, if seen in lead you are going to an ER with a Cath Lab, idea is to have you in Cath Lab within 90 minutes of ER door.
Same applies to Stroke Center protocol, to Trauma Centers, Burn Centers, Re-attachement Centers – You slept with Lorena Bobbitt and she did it to you, you want to go to Bellevue or Montefiore.
The Healthcare issue, is not just about a hospital or physician. Is about a holistic and expensive system that is not very amiable to the Ragnar’a of the world philosophy. It really is a “commons”.
Best is a critical care nurse I know. Traveling to Argentina. Got sick, needed emergency appendectomy surgery. Public hospital was a mess. Private hospital wanted USD 10K cash. She got it and paid for it. Still got infected, shocked that their nurses at top private hospital wored flip-flop. Surgeons carried their own kits & scopes and cleaned them (did not trust/was not any hospital’s cleaning system. Ended up signing herself out, staying in the hotel, and asking her hubby to go the pharmacy to get supplies and meds to take care of herself and book an flight out to JFK. First stop – NYU Med Ctr ER.
So, I want to make a bid on a house. I wanted to for three days now. But, you need a pre-approval letter to attach to an offer. It’s part of the new normal (cough). But, the pre-approval is based on debt to income because everything is soooooo strict now (sarcasm intended).
Well, once upon a time, I theoretically sold my house a few years ago in a matter of days because I was told that no one likes contingencies in Unicorn land even though I didn’t need the proceeds for a purchase. So, I strung my buyers along for seven months while looking at p1ss-stained dumps until I voided the contract and was left with upset buyers. Ok, I told everyone my house would sell in days. Fast forward two years.
Now, I decided that I’ll carry two mortgages temporarily if I buy because I know that my house will sell quickly. I’m not selling first just to string someone along. Uh oh, remember that debt to income thing I mentioned? The new normal? So, as it goes, my debt to income wouldn’t carry two mortgages even though I HAVE ENOUGH F.UCKING ASSETS AND INVESTMENTS AND A PERFECT F.UCKING CREDIT SCORE!! You follow me here? I’ve been rejected for a pre-approval. LMAO!!
I can’t even get a f.ucking pre-approval because the “system” only allows a 50% debt to income max ratio. It doesn’t give a sh1t if you have zillions in reserve. Only alternative? Put a lot more down to drop the debt to income. But I shouldn’t have to put more than 20% down but…. this is the new normal my friends.
Moral to the story? Everyone apparently is renting with tens of thousands in reserve ready to pounce on their dream home. The market is approaching 2006 levels according to NAR muppets. Contingenices are taboo around here, remember?
I ran into the same issue. I had zero debt and enough assets to buy a $300k home in cash but I couldn’t qualify for a $300k loan. The rules are devoid of logic and there is not a single lender that doesn’t sell to Fannie/Freddie anymore. I ended up having to put 40% down to get a bigger home.
Ben,
Thanks for sharing it. No one has any idea of the absurdity unless they actually experience it.
Unfortunately, you guys went out and climbed the wrong tree. I suppose that neither of you belong to a credit union. In particular, a ethnic-centric one. My son and DIL went out to buy a home in Boston area several months ago. They lived in South Jersey at the time. Combined income is a little over $100k as my son is a Resident and he does not get paid much at this stage. He was able to convince the CU that he will be making about $400k to start once his 3 years are up in Boston area hospital.
The CU lent him $350k at 3.2% to buy the single family home, even though it was out of their Philadelphia territory.
Of course, they had pop’s good name to work with.
(12) Grandpop, that is, hehe.
Comrade,
(from previous thread)… what’s your white paper say on the recent decision… that judges do whatever the f they want?
Now, I decided that I’ll carry two mortgages temporarily if I buy because I know that my house will sell quickly. I’m not selling first just to string someone along. Uh oh, remember that debt to income thing I mentioned? The new normal? So, as it goes, my debt to income wouldn’t carry two mortgages even though I HAVE ENOUGH F.UCKING ASSETS AND INVESTMENTS AND A PERFECT F.UCKING CREDIT SCORE!! You follow me here? I’ve been rejected for a pre-approval. LMAO!!
This is precisely the reason I had previously advised you (and helped you) to sell your house first.
In a contingent situation, someone is getting strung out, the buyer of your old house, or the seller of your new house. This is why everyone hates contingencies, especially when the buyer hasn’t even begun to market their house.
On the buyer side, I’ve always advised my buyers to not accept seller contingencies on the purchase of their home, for exactly this reason.
The second reason I advise move-ups to sell their house first is because in 9 out of 10 situations, they are completely unrealistic about how hard it will be to sell their house. It is far easier to buy a house than to sell a house.
You should talk to Bob Farrell if he is still around, I haven’t talked to him in ages. He can probably get you a preapproval no problem, especially considering those stupid prequal and preapproval letters are complete bullshit anyway, they don’t really mean anything. Doesn’t mean you’ll make it through underwriting though. A good broker may have some other options with smaller lenders.
[14] Joyce
Not directly but I got it in there. The problem (for you) is, I agree with the rationale of the Court, and the overall scheme of the legislation is such that the interpretation encouraged by the plaintiffs made little sense.
The problem is that it was possible to come down either way and still remain within stare decisis. Which was why two circuits split (with the more liberal circuit ruling against the administration).
Look, I agree that its a fcuked up law, but as the majority said, it’s the law and it isn’t our right to kill it because we don’t like it. That is what the fringe on both sides doesn’t get.
Horticulture (clot Edition):
ALFRED, Maine — A Maine woman has pleaded guilty to stealing Christmas wreaths and arrangements from grave sites in a Saco cemetery to decorate her own properties during the holidays.
Saco police announced that 56-year-old Pamela Golarz, of Old Orchard Beach, was fined $950 after pleading guilty to theft in York County Superior Court.
A charge of falsifying physical evidence was dismissed, and if Golarz does not commit any crimes in the next year, the charge of theft by unauthorized taking or transfer will also be dismissed.
Police say Golarz stole 15 holiday wreaths and arrangements worth a combined $800 from Laurel Hill Cemetery in November and December.
Investigators were led to Golarz by video from a hidden camera installed by someone whose loved one’s grave had been victimized. A tip led to her arrest.
grim [15],
I get it but don’t want to go through the pressure of needing to find something because someone bought mine. Been through that experience. I had friends that carried two mortgages for a short period of time post bubble and I could tell you, their debt to income exceeded 50%. Who knew it changed now? I figured it was easier to do it this way.
It is far easier to buy a house than to sell a house.
I can’t agree with that one.
Ben,
Thanks for your posts recently. I think you’re right about the differences in the actual teaching methods between “top” and “good” school districts. There’s much more variation between the individual teachers your kids happen to get than there is between good and best districts. My theory is that the main difference between the best and the merely good is in the uniformity of the town’s population. The “best” have only a minimal number of “disadvantaged” in their town, while the “good” do have a few more. A few low scores can pull averages well down vs the “best”. But in the good schools, there’s not enough of them to actually mess up your kids’ classroom experiences.
What the “best” school districts really get you is higher-class, more highly educated neighbors, and a bit less “diversity”, unless you count Asians toward your “diversity” goals.
Yome, if you are living like the wealthy in these countries, what are you really saving? Not much. If you want real cost savings and live with avg locals, good luck getting an ambulance to take you to the hospital in 10 minutes. That’s the point I’m making. I’m talking about urgent care. Not a planned surgery.
yome says:
June 30, 2015 at 8:29 am
Us Healthcare and NJ School excellence is over rated. Time and time again studies have been made. New drugs and new technology are not available in the US. When you go to live in a developing Country depends how deep is your pocket just like everywhere else. Difference is how little you need for the same procedure at a Top Hospital compared in the US, if you are Dollar denominated.
Just like DuckVader. He chose to send his kids to school at an IS. Which charges the same amount as if you are in a foreign Country. You can get a better education at a Top Local University for much much less. This local Universities produced Doctors,Lawyers,Nurses,Accountants ,Programmers etc that we use in the US and all over the World.
Again,if you live same as the locals,yes you might not have the same quality of care. But if you live with the well to do, you get the better care. Two sets of standard unlike the US
I agree that the overall purpose of the legislation was X. That doesn’t negate the fact that the legislature presented a bill to the president and he signed it… making those written words a statute. Their intentions (good/bad/ugly) weren’t made into law; the words on the page were.
“but as the majority said, it’s the law and it isn’t our right to kill it because we don’t like it.”
:-) Are you sure you want to stand by this comment?
Comrade Nom Deplume, Land Snark says:
June 30, 2015 at 10:28 am
[14] Joyce
Not directly but I got it in there. The problem (for you) is, I agree with the rationale of the Court, and the overall scheme of the legislation is such that the interpretation encouraged by the plaintiffs made little sense.
The problem is that it was possible to come down either way and still remain within stare decisis. Which was why two circuits split (with the more liberal circuit ruling against the administration).
Look, I agree that its a fcuked up law, but as the majority said, it’s the law and it isn’t our right to kill it because we don’t like it. That is what the fringe on both sides doesn’t get.
Dead on. People that don’t think avg education is by far and away better in these states is being ignorant. Even our ghetto schools blow other state ghetto schools away in performance. It’s not even a question. Sure, every state has their top schools. Problem is, the avg schools suck in these other states. So unless you are the lucky few that are able to go to the top schools in that state, chances are you are getting a crappy education.
I remember Florida in the 90’s. I was like 2 or 3 grades ahead of what they were learning and these are richer kids. God knows what the trailer trash was learning.
Banco Popular Trust Preferred Shares says:
June 30, 2015 at 9:31 am
NJ schools are uniformly some of the best in the nation. All you need to do is ask touring educational companies what they see. The talent the shows up to their offerings creates the impression that eastern MA, NJ and suburban NYC are noticeably of higher quality.
In practicality what does that comment mean? Not so much the top 5-10 percentile. It is similar to the comments from Ben…….don’t bend over backward to get into the top NJ school districts. Most any town of reasonable quality will do. Obviously if you move to a joke town, you will be punished, but as opposed to the bulk of the US, the average town in NJ has a really solid shot of delivering the goods.
(23) My wife keeps harping on me about retirement destinations. We have one planned out in Sarasota county, Fl. Sarasota hospitals are about the best in the South. A lot of money over there. So no problem with that. On the other hand, the lake home is in Sullivan County, NY. Closest hospital is Port Jervis. That’s iffy. Monticello is equal distance, but I cannot imagine myself lying in a hospital bed being watched over by guys in black clothes and long beards.
Gary sell your damm house already, the clock is ticking on another recession. Don’t be a fool.
Gary,
Why not ask buyer’s for 3 month rent-back contingency? Gives you some time as well as gets around the pre-qual issue,
I can wait for Christie and Trump to start insulting each other at a debate, this is going to be a hoot.
cannot wait
Can we get Caitlyn to run too she is a Republican.
gary (11)-
And people ask me why I’m not in the RE biz anymore.
“No one has any idea of the absurdity unless they actually experience it.”
Chubby in the pool! (CC).
My Christie story:
A few years ago I was at an NJF&W (New Jersey Fish and Wildlife) meeting. Was behind CC on the buffet line. Dude stopped in front of the sausage tray. Tipped it in order scrape them all onto his plate! I said “Can you leave some for me?”. Got the death stare.
Today’s instant zeitgeist read:
CC the human garbage can, running for highest office in land; gary declared a credit risk by banking cartel; Punkin’ interrupts like old codger on a coughing jag; NJ skools will render you a little less stupid than those out of state.
NJT (32)-
Don’t knock sausage scrapings from a chafing dish ’til you’ve tried them…
Fast Eddie, what can I say except I told you so. They are making it difficult to get loans because it’s free money when you are using this capital to buy a house. If you buy now, there is no doubt in my mind that you will make a killing in ten years. The writing is on the wall.
It’s a great time to buy, yet the homeownership rate is diving lower. Think about that. It means only rich people can buy right now and take advantage. Not your unlucky millennial that is stuck paying high rent to these rich owners that have bought rental units in the past 5 years. You laughed at me and called me an idiot when I was trying to help you because your vision was clouded by negative beliefs towards real estate. The places you want to purchase have risen significantly in the past couple years. Imagine if you sucked it up and bought in 2012, could have made a profit already. That means you will be paying someone’s profit if you purchase in these areas now.
Still good time to buy and will be for a couple years. As soon as the lending requirements drop and wage inflation hits, watch out. All those people paying high rents will want to reduce their living expenses and buy. The cycle never ends. At times, it may seem like the re cycle is over, but it never ends. Just have to have nerves of steel to buy in the bad times like in 2012. My nerves were shot when I purchased the last week of 2011(all the negative real estate sentiment…they were telling people renting is better than owning), but I trusted my intuition. I was 31, purchasing an expensive home with 16,000 in taxes (have now moved up to 17, 400). Know how scary that kind of purchase is in that type of negative environment(blood in the streets). Now I’m happy I did it.
Christie is running for president!! Shocker!! Lying all this time that he wasn’t running or didn’t know….blah blah. If we re-elect this loser after this failed presidency attempt, I’m leaving this state.
well now I’m voting for Christie
but you have to leave the blog, too. not just claim you are (again)
re: Plumpkin he is term limited. His bags are already packed for DC. Doesn’t the DOJ need a new Attorney General if an R wins the White House? How about Ambassdor to Sausagekistan?
Fast Eddie, what can I say except I told you so.
I bought my first house before you experienced your first same s.ex k1ss. You didn’t tell me anything.
I thought you were thinking about moving to a low cost country. Sarasota would be my option out of those. You just have to understand that the northern retirees have raised the price to live in that area. That’s why they have good hospitals. You just save money on the crappy schools.
xolepa says:
June 30, 2015 at 11:08 am
(23) My wife keeps harping on me about retirement destinations. We have one planned out in Sarasota county, Fl. Sarasota hospitals are about the best in the South. A lot of money over there. So no problem with that. On the other hand, the lake home is in Sullivan County, NY. Closest hospital is Port Jervis. That’s iffy. Monticello is equal distance, but I cannot imagine myself lying in a hospital bed being watched over by guys in black clothes and long beards.
Let’s try the anon twitter thing today:
@nytimesworld
Trillions Spent, but Crises Like Greece’s Persist http://nyti.ms/1g4iDPy
@iowahawkblog
Hangovers persist, despite chugging ouzo
Linky
Well, then why didn’t have some balls and make a purchase back in 2012 instead of making excuses?
Fast Eddie says:
June 30, 2015 at 11:49 am
Fast Eddie, what can I say except I told you so.
I bought my first house before you experienced your first same s.ex k1ss. You didn’t tell me anything.
move up/relo sucks
first time buyers have it easy in comparison
It’s not a funny situation, but one of my pet peeves is atrocious print and online editing. Well…let’s see how long it take the Star Ledger to figure out this seemingly racial blunder:
A year after her lifeless body was found near Westside Park in Newark, Cheyanne Bond’s family members say they knows less about the circumstances of her death than they thought they did when it happened.
http://www.nj.com/essex/index.ssf/2015/06/a_year_after_slaying_teens_family_devastated_when.html#incart_2box_nj-homepage-featured
re: # 26 – My Aunt and Uncle retired up in NY State just off Windham mountain. They ended up buying a condo in Jersey to be near the Hospitals (and family), as they got older they definelty needed the better medical care. My Uncle has since passed on and my Aunt still goes up there but the quality Medical care is simply not there in NY State.
Well, then why didn’t have some balls and make a purchase back in 2012 instead of making excuses?
Is it a retention issue, short time memory deficiency or a form of ADD that afflicts you?
A gift for someone you don’t like so much…..
http://www.nj.com/ocean/index.ssf/2015/06/these_cell_phone_cases_have_law_enforcement_up_in.html#incart_river
Prices in the original land of unicorns are not almost back to 06 levels. Many on market are priced at 04 purchase price. Just saying.
I’m being honest. I was really trying to help you when I first started to try and offer a different perspective. You had the m.o. that real estate was dead and everything was a rip-off. I sincerely tried to show you the other side of the coin, but you attacked me and called me an idiot. Why I am still trying to get you to see the light is beyond me. You hate me for trying to help you, so why am I even trying?
Fast Eddie says:
June 30, 2015 at 12:17 pm
Well, then why didn’t have some balls and make a purchase back in 2012 instead of making excuses?
Is it a retention issue, short time memory deficiency or a form of ADD that afflicts you?
We are talking about 11/12 price levels. We are not focused on 06 prices. What does that do for you, focusing on prices at the height of the bubble. Those prices are meaningless unless you bought in it like a true idiot. Hopefully, no one bought in 06 and is calling me an idiot. That’s just wrong.
3b says:
June 30, 2015 at 12:25 pm
Prices in the original land of unicorns are not almost back to 06 levels. Many on market are priced at 04 purchase price. Just saying.
3b- Are not or are now? Just wondering if you had a typo?
51 – Pumpkin care to make a predicition on the Greek referendum on Sunday? I am going to place a bet on your sound advise.
I thought 3b was dead?
I’m assuming now. Disregard my post, I was thinking you meant “not”.
#37 Joyce
Are you implying he’ll ‘bring home the bacon’? ;).
Honestly, I have no idea where this is going. You know what the people will vote for(previous election says so), but how Germany reacts is a coin flip. They will prob slap Greece around and kick them out if I had to make a bet. Too much pressure might come to Germany as a result, so it’s a coin flip.
Juice Box says:
June 30, 2015 at 12:31 pm
51 – Pumpkin care to make a predicition on the Greek referendum on Sunday? I am going to place a bet on your sound advise.
I hate the fact that Greece lied to get into the euro. So I might have a bias against Greece.
Pumpkin I’ll refresh your memory as to what actually happened. We’re supposed to forget that the European elites and bankers concocted a fairy tale in the late 1990’s to enable Greece’s membership of the EU.
What we now now have is the classic dynamic of a lie spawning more lies. The bankers that lent so freely in Greece were then bailed out at the insistence of Obama and Geithner in a G8 meeting. Germany did not want to do it. The private debts were transferred to European taxpayers and the IMF, along with the bankers culpability in the story.
Here is a leak on it.
http://blogs.ft.com/brusselsblog/2014/11/11/draghis-ecb-management-the-leaked-geithner-files/
The referendum on Sunday is indeed about whether the Greeks want to still believe in that fiction that was sold to them in the 1990s, that they can indeed be productive members of the EU. They can’t and will never be able to pay back the 200 + Billion they owe.
51/54 comment was in reference to the posted article. 3b lives! Lots of people trying to sell at what they paid in 04. Others will be walking out assuming they sell after 10 or more years without making a dime. Taxes increasing and more on the way. That is the reality in a lot of north jersey towns today. Just saying.
I just received a pre-approval with 33% down. The listing agent is another arrogant f.uck, micro pen1s, d0uchebag who is currently “on vacation” but apparently said don’t bother making an offer if it’s not at around ask price. Supposedly, they “accepted” an offer but the MLS shows nothing. I just submitted a bid at 90% of the ask price.
Thanks for the insight. You seem to have a good grasp of the situation.
That’s why I called it a coin flip; U.S. has 16% of the voting power in the imf….they will def pressure Germany. I figured Germany has its mind made up, but how will the pressure from other countries impact them? That’s the big question.
Juice Box says:
June 30, 2015 at 1:00 pm
Pumpkin I’ll refresh your memory as to what actually happened. We’re supposed to forget that the European elites and bankers concocted a fairy tale in the late 1990′s to enable Greece’s membership of the EU.
What we now now have is the classic dynamic of a lie spawning more lies. The bankers that lent so freely in Greece were then bailed out at the insistence of Obama and Geithner in a G8 meeting. Germany did not want to do it. The private debts were transferred to European taxpayers and the IMF, along with the bankers culpability in the story.
Here is a leak on it.
http://blogs.ft.com/brusselsblog/2014/11/11/draghis-ecb-management-the-leaked-geithner-files/
The referendum on Sunday is indeed about whether the Greeks want to still believe in that fiction that was sold to them in the 1990s, that they can indeed be productive members of the EU. They can’t and will never be able to pay back the 200 + Billion they owe.
Heartwarming Story for the Holiday (jj Edition):
http://www.nydailynews.com/entertainment/woman-30-pound-breast-implants-botched-reduction-article-1.2276134
61 Gary if your kids are in catholic school why move to one of the unicorn towns?? Just had a friend last kid out of high school. Moving from oradell to saddle brook. Taxes going from 15k to 6k a year! Just asking.
Ben,
Thanks for your posts recently. I think you’re right about the differences in the actual teaching methods between “top” and “good” school districts. There’s much more variation between the individual teachers your kids happen to get than there is between good and best districts. My theory is that the main difference between the best and the merely good is in the uniformity of the town’s population. The “best” have only a minimal number of “disadvantaged” in their town, while the “good” do have a few more. A few low scores can pull averages well down vs the “best”. But in the good schools, there’s not enough of them to actually mess up your kids’ classroom experiences.
What the “best” school districts really get you is higher-class, more highly educated neighbors, and a bit less “diversity”, unless you count Asians toward your “diversity” goals.
Another thing to be aware of is that in a top district, they are ok not putting their best teachers to teach the top students. Put it this way, if you stick your worst teacher in the school in a class full of 20 geniuses, the kids will read the book and still crush the national average on any test. I get annoyed because people still portray their numbers as if they are stellar when in fact they are much lower than where they should be. On the flip side, if you stick the worst teacher in front of lower level class, you’ll have mutiny on your hands.
This doesn’t happen as much in an above average district. In an above average district, they typically have one section for the highest level students and its not uncommon for the best teacher to be given the luxury of having that course as a reward.
Gman,
Good luck. Every house I bid on last fall had “multiple” offers. Of course all of them fell through at some point which is the game really- trying to bid up your solid offer against a phantom offer made by an unqualified f-ck. I could have had two of three houses if I just came with full price offer but homey don’t play that. I let them others have them. Another went 50k above my highest bid. My realtor could not find comp even close to it. In the end, time is the key. I only got 4% off ask (although they had just come down 3% right before my bid) but house was pristine and got so many upgrades and freebies. Patience really works in the end. Sure it will here too.
Great stuff……survey from the St. Louis Fed has these findings…….the 3 keys to becoming rich: (1) come from a good family; (2) maintain good health; (3) inherit a lot of money……………….
lei lo ha usato. Quindi, lei era sufficientemente identificata con il signore di sentirsi compromzato dal suo essere più del solito ridicolo; e quindi, essendo tutt’altro che carente in velocità, a volte venne in suo soccorso contro Gowan,negozi golden goose, e lo ha fatto un ottimo servizio. Ma, mentre si fa questo, si vergognava di lui,golden goose bambino 37, indeterminato se sbarazzarsi di lui o più decisamente incoraggiarlo, distratto con apprensioni che lei era ogni giorno s
http://www.northjersey.com/news/business/us-home-prices-climbing-steadily-amid-stronger-demand-1.1365639
I hate the spam filter.
Ben,
0ne th1ng b0thered me 1n my daughters’ 7th grade, and 1’d l1ke t0 hear y0ur 0p1n10n. They have what’s called an “”E”” pr0gram, f0r students perf0rm1ng ab0ve grade level. S0 1n 7th grade, Algebra, supp0sedly h1gher level read1ng/wr1t1ng ass1gnments, s0c1al stud1es, etc. 1nstead 0f hav1ng a few teachers f0cus 0n teach1ng these E classes, and essent1ally teach1ng the same mater1als the same way, 1nstead they let every Engl1sh, Sc1ence, S0c1al Stud1es teacher have 1 0ut 0f 6 classes as an E class.
The result was a lack 0f spec1al1zat10n. C0mpar1ng n0tes, the students d1sc0vered that the d1fferent teachers taught the1r “”advanced”” classes d1fferently. S0me t00k the task ser10usly, and created less0n plans genu1nely cust0m1zed f0r the advanced students’ levels. 0ther teachers just taught the same class as usual, but just p1led extra h0urs 0f h0mew0rk 0n t0p, as an easy way (f0r them) t0 make 1t m0re “”advanced””. My k1d’s Engl1sh teacher dec1ded t0 just make the class d0 env1r0nmental essays and p0sters f0r the last m0nth 0f the year, f0r n0 end but her 0wn 1nterest.
1 suspect th1s was the p0pular ch01ce w1th1n the teacher c0mmun1ty – y0u d0n’t get a small number 0f teachers wh0 get t0 deal w1th what 1 presume 1s a m0re enj0yable task, and the maj0r1ty 0f teachers stuck w1th the average t0 bel0w k1ds. But 1t’s als0 clearly a v10lat10n 0f the benef1ts 0f spec1al1zat10n and d1v1s10n 0f lab0r.
1t was m0st n0t1ceable t0 the k1ds because 1n 5th & 6th grade, the advanced k1ds were taught by “”spec1al1st”” teachers, wh1le 7th and 8th grade get th1s 0pp0s1te ph1l0s0phy where every teacher has 0ne exper1ment per day 1n teach1ng an advanced class. The k1ds seemed t0 prefer and c0mpla1n less 1n the spec1al1st structure.
Algebra m1ght have been the except10n. 1 th1nk they had mult1ple spec1al1sts 1n Algebra, th0ugh the student grapev1ne suggested s0me were better than 0thers. My daughter heard 0f Algebra teachers w0rse than hers, th0ugh her class was bas1cally aband0ned t0 a student teacher wh0 t00k 0ff the 1mp0rtant last m0nth, wh0 als0 had a bad hab1t 0f n0t return1ng test sc0res f0r 3 weeks, mean1ng feedback 0n weaknesses was t00 sl0w t0 gu1de students t0ward needed c0rrect10ns. The Algebra class th1s year was the1r f1rst real exp0sure t0 academ1c “”hunger games”” : s0me k1ds were thr0wn 0ut m1d-year, and s0me were t0ld at year-end that they w0uld have t0 repeat algebra 1n 8th grade. Bummer. My daughter made 1t thr0ugh w1th an 87%, w1th eff0rt, suggest1ng s0meth1ng less than full mastery, and m0destly upsett1ng us. “
What a dumb spam filter. Not much above objectionable, unless algebra and teachers bother you, but it absolutely refused to post, until I converted “O”s to zeros and “i”s to ones.
Apart from the whole Cl0ckwork Orange vibe, this is quite cool.
http://www.mlsfinder.com/nj_gsmls/kw_914/index.cfm?action=listing_detail&property_id=3220757
Let me know how many to order for my favorite wingnuts on the blog. I’ll give them out at the next GTG.
http://www.nj.com/ocean/index.ssf/2015/06/these_cell_phone_cases_have_law_enforcement_up_in.html
Your lessons have to be different for a population of students who are advanced. When I teach my lower level courses, I have to have activities planned to keep them interested, engaged, and focused. There are also limitations in how in depth they are able to learn. Beyond that, I have to deal with general discipline.
My Advanced Placement classes are a whole different ballgame. They come ready to learn, have no discipline issues, and are laser focused. They are like sponges and their learning limitations are few and far between. You teach, they absorb. They are functioning at a very high level, I’d say 2 to 4 years beyond the general population of their peers in terms of maturity and brainpower.
Any teacher that teaches two groups of extreme disparity the same is likely wasting the time of the smarter students. Any teacher who piles on homework is also wasting the time of their students. I’ve managed to teach AP Physics and cover twice as much material as most districts, get my students to score sky high, with minimal homework. Any teacher that piles on large quantities homework is like a bad boss trying to work their workforce like a bunch of slaves. I’ve seen other teachers try to use homework to make up for their own shortcomings. Don’t get me wrong, homework has its place, but if the kids are frustrated by the amount of homework being assigned, something is wrong.
I wouldn’t give every teacher a chance to work with the highest level kids. Some aren’t up to the task. Having smart kids means easy work inside the classroom, tough work outside. They are capable of learning so much that you have so much more preparation to do for them. Also, some teachers aren’t capable of being in charge of a room filled with kids with more brainpower than them.
As far as your daughters grade, I can’t form an opinion. Every teacher grades different. Some give every kid an A. Others give no kids an A. Have her complete the Algebra questions on a practice SAT. It’s an unbiased way of measuring her achievement.
Gun enthusiasts horrified.
Pretty sure that will get kids killed by cops.
Without trying to be sarcastic, things that look nothing like guns (and even empty hands) have gotten people shot and killed… so yeah, pretty dumb idea.
This is where the big cities have an advantage with exam schools. Exam schools self-select the best students, so it becomes the equivalent of an elite private school that is tuition-free. There are problems with this model, as we are seeing in Boston right now. The Beacon Hill crowd send their kids to private schools for K-6 and then they test into Boston Latin (exam score plus last half of 5th grade, first half of 6th grade grades are the metrics that get you in). So the rich send their kids to private schools, then they pay nothing when their kid goes to Boston Latin from 7th-12th for their last 6 years, then on to Harvard, etc. I’m not complaining as my first kid is already in and my 2nd kid has the grades and will test in no problem too. The real problem is when you upset the apple cart by enrolling more private school kids into your elite public school than kids who came up through the public schools in the same system.
[78] Right now it is 50/50 or 48/52 public/private. Somewhere in that range.
Does anybody remember cap gun5? I was talking about it with my wife just a week ago and she happened into an old-timey store and found c@ps. She actually bought me 4 boxes of 5 rolls of c@ps for 3 bucks. I looked up on the interwebs to see if they still make c@p gun5, sold as new. They do. They are bright orange, bubbly things now.
Even though I don’t like him, he will have my vote if he ever makes it. Wash dc is corrupt and if we have a nj president, certainly some more fed money will come back this way.
Expat, nice job raising your kids. Stinks that nj has lost them to Massachusetts.
RAGS: “spec1al1st” was the offender…..
Rags: Just ensure at all costs that you suppress any mention of asia background in the the college apps…..as long as your child is self-motivated, you should not obsess over these issues…..I would be talking more to your kid versus worrying about the teachers and their (obvious) shortcomings…..
Banco P,
Since she dances some hip hop, I’m going to suggest she self identifies as a disadvantaged minority.
I’m helping her with a summer reading list between 7th and 8th grade. Starting out with Prince and the Pauper by Twain, and Scarlet Pimpernell by Orczy. Other recommendations welcome. Her school mandates 2 more mediocre contemporary novels.