From NJ101.5:
NJ millennials are skipping ‘starter homes’ and going for these instead
The term “starter home” may be on the path to extinction, at least here in New Jersey. It seems many young buyers are skipping that first step and going big right out of the gate.
Randi Dickman, broker associate for Re/Max Signature Properties, has been in the real estate business for 17 years and lately she’s been noticing a decline in interest for homes that let buyers enter the market and get their feet wet before eventually transitioning into a “forever home.”
Instead, that forever home — one with multiple bedrooms and bathrooms, along with a garage, basement and yard — is what many young buyers are searching for on their first trip through the real estate market.
“A lot of them are living at home until they’re 25-26 years old, so they have those first years from 20 to 26 to save the money, and that’s where they’re coming up with these large down payments,” Dickman said. “The millennial generation is living home longer, and so that’s giving them the opportunity to save their money.”
Moving into a larger home, to young couples, means no need to move again later on, even if a couple children are added to the equation.
The millennial generation is a “different beast,” according to Dickman, who handles properties in Monmouth, Ocean and Middlesex counties.
…
Patrick O’Keefe, director of economic research at CohnReznick in Roseland, also points to changing patterns among generations. Baby Boomers, for the most part, followed an immediate pattern of school-job-home.“That still is probably the predominant map that most people are following, but it is no longer the only route that particularly-young adults view themselves traveling,” O’Keefe said.
Good Morning New Jersey
With the current level of societal mobility, especially in states like NJ, the idea of a ‘forever’ home is quaint but antiquated.
Very few people here I know maintain, or intend to maintain, a single homestead from kids’ birth until they get put in a grave.
If anything, the trend I am seeing is a ‘forever’ home that is a shore or vacation house. Memories are made there, including special occasions, and that home stays with and in the family often for generations.
Primary residence? Tradeable, up or down.
Am I dumb and pessimistic or smart and conservative?
Two days ago I involuntarily drove a number of the Paulus Hook blocks looking for parking. Put the car five blocks up Columbus and walked to the ferry, so had a good ten or so blocks each way on foot. Seeing the change, I spun through the most southerly part on my way out in the car.
Did some legwork. $1.1m sold 4/2015 for a 1BR/1BA, that the owner is trying to rent for $2900 a month? $1.2M sold with $833 in annual taxes (abatement, hopefully for the owner’s sake)? $750-1000 per square foot sale price in the new buildings?
WTF?
Obvious note to self: Whenever Goldman builds a new 40 story tower in a run down neighborhood, buy.
Everything was bought before approvals were given – you don’t think political insiders get the scoop?
How are people paying $1.1m for a 1/1 at $971 a square foot to rent at $2900 and making that work?
Am I missing something?
4. LOL, yeah.
But I don’t need the insider’s IPO price, just need to get in early after they pull the trigger for the great unwashed.
Some nice increases from those first sale prices, especially since many were at end of peak.
Lie-watha bashed Trump for his bubble comments but it turns out she became a one percentage by flipping houses!
http://www.breitbart.com/big-government/2012/06/02/elizabeth-warren-flip-that-house/
You really can’t make this stuff up sometimes
Shocker
Shocking, the alien hordes who trampled over our immigration laws also don’t respect the democratic process.
https://www.yahoo.com/news/at-unruly-nm-rally-trump-goes-after-gop-gov-martinez-041037050.html
9. Trump’s just pissed she didn’t genuflect.
Based on your premise, mine as well get rid of all laws. People are still breaking them, so no point, right?
I’m not for heavy regulation, but if you think for one second that we can trust a businessman chasing profit to do the right thing, you are crazy. You need to have laws in place to protect the consumer if something does happen. Without the regulations in place, you can’t take any action on them if they bring harm. On what basis can you charge someone if you don’t have the law in place? They can just do wtf they want without worry. A con artist’s dream.
Why are you supporting con artists? Why would you make it easier than it already is for them to take advantage of people?
Anon E. Moose says:
May 25, 2016 at 12:01 am
Gourd-anone [13];
Amen. Perfect example of why regulation is needed.
Sing it, Johnny One Note!
Are you saying that we need more regulation because all the existing regulations on the food service industry worked so well? That the failing was want of a specific regulation barring the use of nuts in a dish explicitly marked “NO NUTS”?
You play the role of leftist sucker as if right out of central casting. Troll on!
I’m on the “forever home” path. Not sure that we will retire in it, but def want to try and live there for the next 30 years. It makes perfect economic sense in a low rate environment. It also made sense for us due to buying after a major real estate crash. Timing is everything in real estate. So I didn’t pay top dollar, have a low interest fixed rate mortgage, that only gets easier to pay as time goes on.
Thing about it like this. If my wife and I had no problem paying this mortgage and coming up with 20% down payment at the young age of 31, with 30 years of raises, we should be set financially. Now cross my fingers and pray we stay healthy.
Maybe the reason is that a starter home is as unaffordable as forever one, so what is the point to spend all your savings on a bad one. America’s residential market is experiencing a historic housing crisis. In just ten years, 9 mln households became tenants (source https://tranio.com/usa/analytics/house_prices_rental_rates_and_yields_on_americas_top_residential_markets/) This is the largest increase over any 10-year period since 1965. Si it’s time to bet the ranch
The left is now bringing pellet guns to shoot up Trump rallies? A pellet gun in NJ will get you time in the slammer.
“Pellet Air Pistols. B-B gun pistols are subject to all of the laws applicable to handguns in New Jersey. A spring or elastic action pistol is literally considered a handgun and, therefore, a permit is required to possess, carry or transport it under 2C:58-4.”
If these supposed violent protests (MSM find a white hipster and white hillbilly pushing each other) erupt into a civil war between the lefties and the righties, I’ll forgo my support of a woman’s right to choose to be on the side with the guns. Sticks & Stones baby!
I’m on the “forever home” path.
You’re on the “forever lost” path.
I wouldn’t worry as much about your health as your lack of job mobility. Lose your job and those mortgage payments get tricky around here. Lose your job in Florida and you can survive quite a while on savings (three times as long) when your mortgage payments and taxes are easily 1/3 of what they are up in these parts plus you don’t have to pay a nickel for each plastic or paper grocery bag.
A) Living in Mom & Dad’s basement doesn’t appreciably give one the ability to save up for a six-figure down payment with zero wage growth over the last generation. After 5 years in Mom & Dad’s basement, they’re obviously funding the DP (pun intended) to get junior out of the nest.
B) I sat out the bubble and bought my move-up home first. I never knew I was a trend-setter; I was just following the conventional wisdom of buying as much as I could afford after the bubble burst dust settled.
C) The only people this sounds bad for is realtors — they miss out on an additional sell & buy commission when people move up. Quelle horreur!
This is due to too much capital concentrated at the top looking for avenues of investment. Zero rate environment will do this. Who can access the free money for loan? Only the well off, up until last year, they were not giving out loans to anyone that didn’t have great credit, good job, and a significant down-payment.
How many people fit this profile? So it’s only natural that capital would start flowing into housing in the form of investments. These people can’t qualify or afford their own home purchase, so the investors stepped in knowing that a good amount of former home owners will now be renters. Wall st big boys came in with their cash and started buying all the discounted homes up and putting them up for rent.
This is what happens when there is a lot of money at the top and a lack of investments to put that capital in. The capital starts to search out new avenues that they normally wouldn’t take. So now you have huge wall st landlords who drove the prices back up and did not let the little guys take advantage of discounted homes. They bought them all up. We are becoming a nation of haves and have not’s. You either are wealthy and own, or you rent.
Kevin R. says:
May 25, 2016 at 9:39 am
Maybe the reason is that a starter home is as unaffordable as forever one, so what is the point to spend all your savings on a bad one. America’s residential market is experiencing a historic housing crisis. In just ten years, 9 mln households became tenants (source https://tranio.com/usa/analytics/house_prices_rental_rates_and_yields_on_americas_top_residential_markets/) This is the largest increase over any 10-year period since 1965. Si it’s time to bet the ranch
In the interest of full disclosure, Obamacare seems to be helping many and meeting needs, for now at least. Not exactly an unbiased reporter, but not exactly a blockbuster report either so I rate it objectively reasonable.
http://www.commonwealthfund.org/publications/issue-briefs/2016/may/ACA-tracking-survey-access-to-care-and-satisfaction
[15] libturd,
Agreed. I’m still waiting for some really good political violence to start. We still are nowhere near the 60’s when it comes to civil unrest.
The Tree of Liberty is thirsty.
Money flows to where it’s treated best….. Can’t get no better than lobbying to get what you want….
D-FENS says:
May 24, 2016 at 11:02 am
Why is the argument regarding regulation all or none.
The point is that our state legislature is for sale to the highest bidder. Regulation that benefits lobbyists and their interests is the result.
Regulation isn’t about product safety or protecting consumers anymore..in this context.
I did the same thing. Bought the first income producing property in 99. Sat out the bubble, and then bought as much as I could at the end of 2011. In my eyes, it was free money with the low rates and a 30 year mortgage, combined with discounted homes from the bust. When there is blood in the streets, you buy as much as you can.
My house is a center hall colonial, with high end materials. It’s enough house for me to raise my family and live in till my retirement. It’s not too big, and not too small, just perfect for what I want. If my wife and I are able to keep our jobs, we should save a lot of money from all the costs associated with moving.
“B) I sat out the bubble and bought my move-up home first. I never knew I was a trend-setter; I was just following the conventional wisdom of buying as much as I could afford after the bubble burst dust settled.”
So what we are saying is money is treated best when it’s put into a politician’s pocket?
re # 18 – Pumps – rentier economy forever, get used to serfdom. You really think the banks are going to loan to deadbeats after the last blowup with fog a mirror loans? No their hands are tied (by Congress) and now the ZIRP goes into anything but mortgages. Why do you think Fannie, Freddie and FHA are the only game in town?
The US Private Label Mortgage-Backed Securities Market is still less than $10 Billion a year, nobody will touch it. Just like (junk)bonds for Mall redevelopment in the Meadowlands. Our finest Wall St financiers cannot even convince the Chinese to buy the stuff, it’s garbage.
From the WSJ:
U.S. New-Home Sales Rise at Fastest Pace in Eight Years
U.S. new-home sales posted their strongest month in more than eight years while prices jumped to a record level, suggesting healthy demand alongside limited supplies across the housing market.
Purchases of new, single-family homes jumped 16.6% from a month earlier to a seasonally adjusted annual rate of 619,000, the Commerce Department said Tuesday. That was the fastest pace since January 2008.
The median price of a new home—the point at which half of homes were sold above and half sold below—rose to $321,100 last month. That was up 9.7% from a year earlier and the highest level on record. Prices aren’t adjusted for seasonal factors.
”The fundamentals for new home sales are good, and getting better: more jobs, rising wages, more household formations, and very low mortgage rates,” said Gus Faucher, deputy chief economist at PNC Financial Services.
Newly built homes make up just a 10th of all home purchases, and figures are often subject to large revisions. April’s report came with a margin of error of plus or minus 15.4 percentage points.
But broader trends suggest the market has regained its footing after a choppy first quarter. Sales of existing homes, which account for the bulk of the market, rose for the second straight month in April, the National Association of Realtors said Friday. A separate Commerce Department report out last week showed housing starts rebounded in April, leaving builders on pace to break ground on 778,000 single-family homes this year.
re # 23 – Wall St wants Hillary we all know that.
That’s a headline… From MarketWatch:
New home sales roar back, crushing forecasts with a 619,000 annual pace in April
Sales of new homes surged in April, a sign that builders are stepping up as demand for housing remains robust.
Sales soared 16.6% to a seasonally adjusted annual rate of 619,000, the Commerce Department said Tuesday. That was the biggest monthly jump in 24 years and trounced estimates of a 525,000 pace.
The median price also jumped, rising 9.7% from 12 months ago to $321,100.
The big increase in sales took supply sharply lower. At the current pace, it would take 4.7 months to exhaust all inventory.
First-quarter figures were all revised up. Sales so far in 2016 have averaged a 553,500 annual pace, 10% higher than the 503,000 notched in 2015.
Regional performance was mixed, from a 52.8% surge in the Northeast to a 4.8% decline in the Midwest. The South saw a 15.8% increase, while in the West sales were up 18.8%.
If I ever ran into major trouble, I just liquidate the income producing property if things really hit the fan. If my wife only loses her job, or if only lose my job, we use the income collected from the income property to pay for it till we get back on our feet.
Libturd questioning the gender of Hillary’s Cankle fluid. says:
May 25, 2016 at 9:49 am
I’m on the “forever home” path.
You’re on the “forever lost” path.
I wouldn’t worry as much about your health as your lack of job mobility. Lose your job and those mortgage payments get tricky around here. Lose your job in Florida and you can survive quite a while on savings (three times as long) when your mortgage payments and taxes are easily 1/3 of what they are up in these parts plus you don’t have to pay a nickel for each plastic or paper grocery bag.
“Can’t get no better than lobbying to get what you want….”
And the return on investments is really amazing, especially at the local level. In a town like Montclair, a developer can give like $5,000 to a potential town councilor’s or mayor’s election campaign. In return, he can get the rights to develop many millions of dollars worth of real estate. So much that the same developer is considering building a new municipal complex for the township free of charge, though it would be a lease situation where the developer owns the building but doesn’t charge the rent. Oh…the developer would also get to sell all of the commercial space which will be built above the municipal offices.
On the federal level, nothing is more cost effective than the ease of making an investment in the Clinton Foundation. Heck, want Uranium? You don’t even need to take a number.
23. Sure, why not? It’s been done all throughout history, everywhere.
Greasing the palms. You try to legislate it out, it comes back in a different legal form such as a super PAC.
Eliminate the competition legally, give them hurdles to make their life difficult.
Keep the small guy from getting a footing. A real obstacle for a small business.
Capitalism encourages this type of behavior. Double edged sword…..
I def agree. Haves and have not’s, the new America.
Juice Box says:
May 25, 2016 at 10:43 am
re # 18 – Pumps – rentier economy forever, get used to serfdom. You really think the banks are going to loan to deadbeats after the last blowup with fog a mirror loans? No their hands are tied (by Congress) and now the ZIRP goes into anything but mortgages. Why do you think Fannie, Freddie and FHA are the only game in town?
The US Private Label Mortgage-Backed Securities Market is still less than $10 Billion a year, nobody will touch it. Just like (junk)bonds for Mall redevelopment in the Meadowlands. Our finest Wall St financiers cannot even convince the Chinese to buy the stuff, it’s garbage.
Libturd,
What makes it better than the stock market is the guaranteed returns. Kinda like insider trading…..
Troll [11];
Why are you supporting con artists? Why would you make it easier than it already is for them to take advantage of people?
Trolly, trolly troll. Falling back to the high-school debate league tactics again?
What exactly did the troves of existing food service law and regulations do to stop this instance? [Nothing.]
What government regulations prevent the public from continuing to do business with the offender going forward? [None. Market regulation in effect — ask Chipotle stockholders about it; or would that sort of financial analysis be outside your skill set?]
“If I ever ran into major trouble, I just liquidate the income producing property if things really hit the fan”
How many kids you have/plan on pumps?
$250,000 per, in today’s dollars, for undergrad. Budget now.
34 – if shit hits the fan, and he loses everything, the kids go to school for free – Bernie said so.
Heads I win, Tails I win.
If SHTF? You mean like now in Venezuela?
Obama’s State Dept report faults Hillary.
The State Department’s own inspector General released a report today to lawmakers stating the Hillary Clinton broke State Department record keeping rules.
According to Politico:
“Therefore, Secretary Clinton should have preserved any Federal records she created and received on her personal account by printing and filing those records with the related files in the Office of the Secretary,” the report states. “At a minimum, Secretary Clinton should have surrendered all emails dealing with Department business before leaving government service and, because she did not do so, she did not comply with the Department’s policies that were implemented in accordance with the Federal Records Act.”
Damming part —-> Clinton declined to be interviewed by the Inspector General, as did her former top aides, Cheryl Mills, Jake Sullivan, and Huma Abedin.
“A lot of them are living at home until they’re 25-26 years old, so they have those first years from 20 to 26 to save the money, and that’s where they’re coming up with these large down payments,” Dickman said.
I f.ucking laughed out loud when I read this statement. Omg, where do I begin.
No, shit hitting the fan in the US is more like a ban on soy chai lattes than Venezuela.
My younger son is probably going to spend all of his future tuition on Proton Therapy since it’s theoretically better than the traditional radiation that insurance covers for brain cancers. Max out of pocket only applies to things that insurance companies cover. Will have to see if ADA covers Proton therapy since Medicare does. If it does and BCBS doesn’t, and ADA covers preexisting conditions, it might make sense. Will do the math and check out the legalities of it when I get there.
Yeah today’s piece is a steaming load of shit really. It was 3:30am in Denver.
LW
“$1.2M sold with $833 in annual taxes” even with an abatement or PILOT that seems crazy
Lib – We do not know each other but I want to say that I am praying for the speedy recovery of your boy. Your story forces me to pause and really appreciate how beautiful and precious life is with our kids.
Bernie it’s not to late to go on the attack, State Dept just gave you some additional bullets.
https://www.youtube.com/watch?v=HRqZhJcae3M
I know it sounds crazy, but we are pretty much involved in an involuntary game of Russian Roulette. There are 7 bullets in the chamber. Though when playing RR, you just pull the trigger and get it over with. When dealing with a cancerous brain tumor, pulling the trigger takes about a year of fighting your insurance company as well as the disease.
Eddie -I f.ucking laughed out loud when I read this statement. Omg, where do I begin.
I think you begin with the fact that the man quoted is called Dickman
Wow, this is comical. They have places like Albany and Little Rock ahead of NYC.
http://realestate.usnews.com/places/rankings-best-places-to-live
“A lot of them are living at home until they’re 25-26 years old, so they have those first years from 20 to 26 to save the money, and that’s where they’re coming up with these large down payments,” Dickman said. “The millennial generation is living home longer, and so that’s giving them the opportunity to save their money.”
Yep, that’s what I’ve heard. Just live at home for 4 years and buy your “forever” home with that massive downpayment saved from your great income in your first job. BTW, the author is 31 and he and his girlfriend recently bought a 1600 square foot “forever” townhouse in Tinton Falls for $249K, $5K tax bill.
This really pisses me off. Isn’t insurance supposed to help, as opposed to harm?
Thoughts and prayers with your son.
Libturd questioning the gender of Hillary’s Cankle fluid. says:
May 25, 2016 at 12:05 pm
I know it sounds crazy, but we are pretty much involved in an involuntary game of Russian Roulette. There are 7 bullets in the chamber. Though when playing RR, you just pull the trigger and get it over with. When dealing with a cancerous brain tumor, pulling the trigger takes about a year of fighting your insurance company as well as the disease.
grim – So what we are saying is money is treated best when it’s put into a politician’s pocket?
With politics, nothing gets done efficiently. Without politics, nothing gets done period.
Feel free to substitute graft for politics in the above saying.
I agree, this is pure comedy. If they went to college, chances are they are in debt, not saving loads of money.
The Original NJ ExPat says:
May 25, 2016 at 1:16 pm
“A lot of them are living at home until they’re 25-26 years old, so they have those first years from 20 to 26 to save the money, and that’s where they’re coming up with these large down payments,” Dickman said. “The millennial generation is living home longer, and so that’s giving them the opportunity to save their money.”
Yep, that’s what I’ve heard. Just live at home for 4 years and buy your “forever” home with that massive downpayment saved from your great income in your first job. BTW, the author is 31 and he and his girlfriend recently bought a 1600 square foot “forever” townhouse in Tinton Falls for $249K, $5K tax bill.
BTW, here’s the main article author’s family on Family Feud. The video clip is pretty funny.
http://nj1015.com/nj1015-news-producer-dino-flammia-will-be-on-the-family-feud-today/
scum bags.
http://www.nj.com/politics/index.ssf/2016/05/the_mob_is_still_dumping_contaminated_waste_all_over_nj_state_says.html#incart_river_home_pop
Capitalism itself does not encourage above or below the table bribe issuing or receiving.
Raymond Reddington formerly Phoenix says: says:
May 25, 2016 at 10:59 am
Capitalism encourages this type of behavior.
“My (tentative) answer: From 2011 through 2015, the Fed managed the economy with two complementary goals: Get the unemployment rate down to 5 percent (from near 10 percent) and keep inflation in a range between 1 percent and 2 percent. It adjusted monetary policy in response to shocks in order to achieve these complementary goals. In other words, the forecast for unemployment and inflation was accurate because the Fed made it so.
This raises another question: Could the Fed have achieved better growth and gotten interest rates back up to normal more quickly if it had aimed for a sharper decline in the unemployment rate and allowed inflation to run above target? It’s a subject that economists will study for years to come, and that could offer key lessons on how to handle the next recession.”
http://www.bloomberg.com/view/articles/2016-05-25/the-fed-s-amazing-self-fulfilling-forecast
Exactly. That’s why capitalism must have regulations in place to protect the system from the evils of human nature. It’s great in theory to have an unchecked system of capitalism, but we already know from history what happens when it goes unchecked.
I wish there was a way to get the morons that cut corners in the economic system to understand the harm they bring with their actions. They totally screw the rest of the population from participating in an unchecked system of capitalism. I’m serious when I state that death should be the penalty for people caught cheating the economic system. It’s the only way to do it. They want to risk their life so be it, you always need to make an example of someone so the others don’t get any ideas.
Joyce says:
May 25, 2016 at 1:58 pm
Capitalism itself does not encourage above or below the table bribe issuing or receiving.
What regulation? Regulate the movement of dirt?
Sure, you need a licensed hauler to move your topsoil from Home Depot to your lawn.
Don’t we already have laws to prosecute those who break them?
And maybe a soil test for every bag moved.
47. if you make a living in the lesser cost towns you live very well. New York – not as much.
When what goes unchecked?
“It’s great in theory to have an unchecked system of capitalism, but we already know from history what happens when it goes unchecked.”
Not even hardcore libertarians argue against having a system of government that prosecutes fraud and other crimes against person and property (physical crimes, not hurting peoples’ feelings crimes). The article on dumping waste improperly infringes multiple ways on innocent people’s property. If it was done unintentionally (doubtful), deal with it accordingly. If it was done intentionally, prosecute the individuals who should have known better AND their boss(es) criminally.
“Fog is typically bad news: It means low visibility and bad hair days. But one California distillery is changing fog’s negative connotation by making vodka out of it. Alameda-based Hangar 1 will soon launch a new vodka made from fog, Vogue reported. It’s aptly named, Fog Point Vodka.
The vodka (or fog-dka, if you will) is distilled from a local wine and mixed with water collected from fog. While it might sound like modern day alchemy, Hangar 1 actually works with a company called FogQuest, which makes fog catchers to collect the water.
FogQuest’s products don’t require any electricity: They utilize large plastic mesh sheets to collect water droplets “out of the air,” Vogue noted.The water collected from the fog can be used for drinking, cooking, washing and well, artisanal vodka making.””
Will your brother the plumber be the first to go?
The Great Pumpkin says:
May 25, 2016 at 2:06 pm
I’m serious when I state that death should be the penalty for people caught cheating the economic system.
So we agree. The concentration of money is a very very bad thing. It leads to individuals that are above the law and can do whatever the fu!k they want. Basically, they become superhuman from the power of money. Capitalism than ceases to exist on fair competition.
joyce says:
May 25, 2016 at 2:14 pm
When what goes unchecked?
“It’s great in theory to have an unchecked system of capitalism, but we already know from history what happens when it goes unchecked.”
Not even hardcore libertarians argue against having a system of government that prosecutes fraud and other crimes against person and property (physical crimes, not hurting peoples’ feelings crimes). The article on dumping waste improperly infringes multiple ways on innocent people’s property. If it was done unintentionally (doubtful), deal with it accordingly. If it was done intentionally, prosecute the individuals who should have known better AND their boss(es) criminally.
If they changed the penalties to death, I’m sure he would be smart enough to not cross the line.
joyce says:
May 25, 2016 at 2:16 pm
Will your brother the plumber be the first to go?
The Great Pumpkin says:
May 25, 2016 at 2:06 pm
I’m serious when I state that death should be the penalty for people caught cheating the economic system.
“It leads to individuals that are above the law and can do whatever the fu!k they want. ”
Great, so have the govt remove the laws and regulations that created this terrible environment… prosecute fraud… and get/stay out of the way.
http://www.bbc.com/news/technology-36376966
Foxconn replaces ‘60,000 factory workers with robots
WW3 with China coming? MNC’s better relocate to Asia
Raymond Reddington formerly Phoenix says: says:
May 25, 2016 at 2:53 pm
http://www.bbc.com/news/technology-36376966
Foxconn replaces ’60,000 factory workers with robots
For Joyce
105 to 0 in 3 seconds flat…..
http://www.nj.com/union/index.ssf/2016/05/linden_cop_admitted_selling_pot.html#incart_2box_nj-homepage-featured
Senator Loretta Weinberg is the woman who sponsored NJ’s absurd smart gun law…and as we speak…is on her way to the whitehouse to meet Obama to discuss promoting smart guns as replacements for conventional firearms. Meanwhile…her son is promoting gun violence against those who Ms. Weinberg disagree with politically…
http://bearingarms.com/bob-o/2016/05/25/son-nj-senate-majority-leader-wants-trump-blow-brains/
Check out the graphic picture.
68
“As part of his plea, Turbett forfeited his position as a officer along with the right to ever again seek public employment in New Jersey.”
That is not something you see very often.
Is being caught with a “small amount” of weed still considered a felony in NJ? I ask because this hero could still seek employment with out of state police agencies after he completes his sentence if it’s not a felony and if he didn’t have to forfeit his cop certification (agencies seem to prefer experienced hires even with criminal pasts over new hires).
Pumps – I would think that the big mortgages combined with the huge tax bill and overpaying to live on a 45mph road would cause you and your wife to have a lot of arguments about money. I can imagine that scenario a lot easier than you two just sitting back and enjoying all the money you are “saving” by not moving for the next three decades.
I did the same thing. Bought the first income producing property in 99. Sat out the bubble, and then bought as much as I could at the end of 2011. In my eyes, it was free money with the low rates and a 30 year mortgage, combined with discounted homes from the bust. When there is blood in the streets, you buy as much as you can.
My house is a center hall colonial, with high end materials. It’s enough house for me to raise my family and live in till my retirement. It’s not too big, and not too small, just perfect for what I want. If my wife and I are able to keep our jobs, we should save a lot of money from all the costs associated with moving.
First, didn’t overpay. Impossible to get a mortgage in 2011 on an overpriced house. Great value at someone else’s expense is what we bought. Trust me, we didn’t overpay.
Second, taxes are what they are. Doesn’t matter what town I moved to, if they have a good school system, will be paying equivalent taxes.
Third, we bought a house we could AFFORD. We didn’t bite more than we could chew.
Fourth, we just bought the Volvo xc90 fully loaded. We would not be making this kind of car purchase in the first five years of owning the house if we were fighting over money. If we aren’t arguing over money in the first 5 years of owning this house while making a car purchase like that, doubt we will be fighting about it in the future as the raises and inflation make the mortgage payment that much easier to pay.
The Original NJ ExPat says:
May 25, 2016 at 3:40 pm
Pumps – I would think that the big mortgages combined with the huge tax bill and overpaying to live on a 45mph road would cause you and your wife to have a lot of arguments about money. I can imagine that scenario a lot easier than you two just sitting back and enjoying all the money you are “saving” by not moving for the next three decades.
I did the same thing. Bought the first income producing property in 99. Sat out the bubble, and then bought as much as I could at the end of 2011. In my eyes, it was free money with the low rates and a 30 year mortgage, combined with discounted homes from the bust. When there is blood in the streets, you buy as much as you can.
My house is a center hall colonial, with high end materials. It’s enough house for me to raise my family and live in till my retirement. It’s not too big, and not too small, just perfect for what I want. If my wife and I are able to keep our jobs, we should save a lot of money from all the costs associated with moving.
72 – you paid a lot
[72] Fourth, we just bought the Volvo xc90 fully loaded. We would not be making this kind of car purchase in the first five years of owning the house if we were fighting over money.
Q.E.D.
Lib,
Long time reader of the site and saw a couple of posts about your son. Saw this a couple weekends ago and thought I would paste the link.
http://www.cbsnews.com/news/60-minutes-fda-breakthrough-status-duke-university-cancer-therapy/
Thoughts and prayers.
73- It was totally redone when we bought it. Practically a brand new house except for the driveway. We bought it from my wife’s sister’s best friend’s mother. The house wasn’t even on the market. They dumped a crap load of money into the house by using good material(example, all radiator covers are custom wood covers). Trust me, we were looking for 3 years, we would not jump on any old house. We were patiently waiting for the right house to come along. And indeed it did.
76- Forgot to mention why they had to part with it. Caught cheating, so they were divorcing. So they built their dream home for us. Hell, the shed has hardy siding on it. Custom built, looks like a doll house. Bar alone cost him 30,000 to build. Beautiful.
Blumpkin lives on a busy street and overpaid in 2011 bc place had nice wood radiator covers. He is also banking on 30 years of raises to fund his lifestyle. A 36 year old financial analyst thinks to won’t hit salary ceiling. Like someone 20 years younger won’t swipe it for cheaper. He will be the senior senior analyst..hah. No offense, Blump but I am dying laughing.
Keeping drinking the hater-ade. Who says I’m not moving up to manager? Even if I didn’t, I will get raises no matter what, even if I hit the ceiling. You think I’m going to lose money to inflation? You have no idea what you are talking about. Stop making yourself look ignorant.
What’s your definition of busy street? I do not live on a busy street. Might live on a double yellow county road, but it’s not busy. It’s through way for 2 neighborhoods, vizcaya and pines lake. Those neighborhoods also have other access routes. Only time I see cars is morning and evening commute. At night or during the day, barely any cars. On weekend, only when everyone is going to church.
I have woods behind my house, woods across the street. Where am I going to find this kind of lifestyle this close to nyc? All types of wildlife and the beauty of nature, yet with all the access to all the amenities that north jersey has to offer. Have train or bus access. Most major highways located nearby. Best of all, it has access to nyc labor market. I’m very happy with my home and am glad I only paid 650,000 for it. If I put it on the market for 650,000 today, it will be gone by the end of the day. I search listings religiously, good luck finding a center hall colonial in mint condition with high end finishings on 3 quarters of an acre backing up to state owned land (that cant be built on) in a good school district for 650,000. Good luck!
He dumbkin –
1. 45mph speed limit
2. Straight enough for drag racing
3. People use it for commuting
4. Miles between stop signs
– That’s a busy street, at least for purposes of not choosing one when you are shopping for a house that children will call home. If you want any of yours to live, they certainly won’t be bicycling to so-and-so’s house across the street. In fact, if you wouldn’t feel safe teaching your kids to bicycle on your street – guess what kind of street that is? In a few years when we have driverless cars they’ll probably raise the speed limit to 75 mph in front of your house. Or maybe inflation will transform the straight, fast, narrow and shoulder-less road out front into a cul-de-sac ?
80- I have sidewalks in front of my house. Every house has kids or has had kids move out. My house is part of a neighborhood that has a double cul-de-sac. Kids don’t have to cross any busy streets to go ride around on a cul-de-sac.
Anything else?
On a safe and quiet street? I guess you’d have to move a quarter mile away, but I don’t know how welcome you’d be in a neighborhood, “Do you know who’s moving in? That dumb fcuk from around the corner who didn’t know he bought a house on a busy street.”
I have woods behind my house, woods across the street. Where am I going to find this kind of lifestyle this close to nyc?
You also forgot to mention that if my house was located at the end of a cul-de-sac, it would have been 100,000 more at the minimum
Yeah, because it would then have a desirable… (wait for it) …location. Real estate is all about…______, ______, _______.
You also forgot to mention that if my house was located at the end of a cul-de-sac, it would have been 100,000 more at the minimum
72 (et al).
Pumps. I don’t like you. I don’t like what you stand for. If there is ever a GTG and you say the things to my face you have said on this blog you will be on all fours searching for many of your teeth.
Having said that please take this advice. Just……stop……please. For yourself. Not for me.
85- This place is ridiculous. You have some anger issues. I love it how you get mad at me for defending myself when I’m being called out. Expat trolls me all the time, but that’s okay because it’s pumpkin. So it’s funny, right? Don’t like when the dude getting bullied fights back, huh?
Money…,it’s a gas….
84- Listen, I’m happy with my purchase. You can say whatever you want, but I enjoy coming home to my house. Pride of ownership, something you wouldn’t understand. You only look at home with $$$ eyes. I see memories, you only see value. If the house works for me, than who cares what anyone thinks.
I’m not selling for a long time, so who cares if I overpaid or not.
RR [30];
Capitalism encourages this type of behavior.
Capitalism encourages prosperity of the masses. After seeing this graph, I don’t want to hear another god damned word from the Pumpkin Troll (or anyone else for that matter) about income inequality.
The defining inequality worldwide is the unequal distribution of economic freedom.
Gourd-o [61];
Showing your geek flag — moisture farming like Luke with uncle Owen and auntie Beru back of Tatoine?
If the house works for me, than who cares what anyone thinks.
Admission of guilt if I ever saw it.
“Might live on a double yellow county road, but it’s not busy”
Yes, I hear they are for decoration mostly. Please, I lived on North Ave in Westfield so I know busy. I would never buy on double yellow again. In fact, I dropped two realtors who showed me homes on double yellow after I said not to.
“What’s your definition of busy street?”
Hmmm..mine is a double yellow lined road. Actually the state helped me with that one because they even marked it so you can see. Question, does DPW stop by every so often to repaint those lines? Busy road..
Plumpty got shafted and doesn’t even realize it.
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