From Philadelphia Business Journal:
Final phase of mass demolition to get underway in Camden
Camden officials are moving forward with the final phase of an ambitious plan to tear down a total of 591 derelict structures in the South Jersey community.
In what is considered the largest demolition project in New Jersey history, the six-phase, $13.6 million program to raze nearly 600 buildings started in January 2015. A total of 531 properties have been torn down so far with the 60 that are remaining to be demolished by mid-September, said Dan Keashen, spokesman for Camden County.
Camden Mayor Dana L. Redd and other public officials gathered Thursday morning at the intersection of Louis Street and Kaign Avenue to mark this last part of the demolition program, which Keasen said was a tad ahead of schedule. The properties that will come down are in the following East Camden neighborhoods: Rosedale, Cramer Hill, Dudley, Stockton, Marlton and Beideman.
Once completed, the county and city will explore pursuing some infill development in areas and will consider parks, affordable housing and other projects. There may be cases where no new development is needed, said Robert Corrales, business administrator for the city of Camden.
“We have some really dense neighborhoods and maybe we leave it as green space,” he said.
The city is still figuring out what its approach will be on possible reuse of the properties, Corrales said. It may use an RFP process to see what interest there may be for some of the parcels. Regardless, he said, just getting rid of some of these eyesores improves the quality of life of people who live near them.
Did a candidate for president really just make a speech complaining about internet trolls?
FRIST
wrong again
chicagofinance says:
August 26, 2016 at 7:48 am
FRIST
FRIST …..white privilege
Like no one saw this coming.
http://www.benefitspro.com/2016/08/25/tennessee-commissioner-warns-of-exchange-collapse?kw=Commissioner%20warns%20of%20ACA%20exchange%20%27collapse%27&cn=20160826&pt=Daily&src=EMC-Email&et=editorial&bu=BenefitsPRO&slreturn=1472216190
At first, I thought “nice, let’s see what she has to say”.
http://www.benefitspro.com/2016/08/24/hillary-clinton-proposes-small-biz-tax-cuts?kw=Hillary%20Clinton%20proposes%20small-biz%20tax%20cuts&cn=20160826&pt=Daily&src=EMC-Email&et=editorial&bu=BenefitsPRO&slreturn=1472216339
The more I read, the more my eyebrows kept twitching up. Some of the proposals regarding raising deduction limits are fine but then I see the standard deduction proposal and I am thinking “so many businesses are pass throughs (which she criticized yesterday), how is this going to work?”
Then I saw the shot she took at Trump and his treatment of subs and thought “wait, there is no jurisdiction for this, how can she regulate in contract formation and enforcement which is exclusively a state level concern ?” Beyond federal contractors, the Feds have no jurisdiction in this area.
Finally, she incredulously claimed to want to relieve small business of start up regulatory burden. It is actually quite easy to create an entity in the US; the regulation comes in based on the entity’s business activity and the left is all about regulating activity. So that’s crap.
The part about the caregiver credit is BS because it will be phased out based on income so it is really another redistribution piece.
In short, a paen to the low information voter–anon and footrest will have it up on their blogs soon.
“the regulation comes in based on the entity’s business activity and the left is all about regulating activity. So that’s crap.”
The fact that you think Clinton represents the left proves, yet again, the unimaginable vastness of your ignorance. Thanks for playing though.
[7] footrest
How did you ever make it out of third grade with your reading skills?
[7] footrest
Oh, I forgot, they “warehouse” kids on IEPs today and give them diplomas they can’t read.
To be fair, I can’t read one of mine. It’s in Latin.
“Mr. Pickens, whose grandfather was an early field secretary of the N.A.A.C.P., said he welcomed newcomers, whatever their race, but not investors or people with four or five houses and no commitment to the community.
“This is sort of reverse integration,” he said. “That’s fine, that’s the American way. But there are 5,000 miles of coastline in America, and five are commanded and owned by blacks. So we treasure what we own. That begins to disappear. Think about that. So that’s what we’re dealing with. And once you leave here, you can’t afford to come back.”
http://www.msn.com/en-us/news/us/investors-move-next-door-unsettling-a-black-beachside-enclave/ar-BBw4f2W?li=BBnb7Kz&ocid=UE07DHP
(can you imagine the outrage over this quote about preserving status quo from 30 year, footrest, and anon if this weren’t a “black” enclave? Actually, you don’t have to imagine it. Just scroll back).
[7] footrest (because that’s all he’s good for)
“The fact that you think Clinton represents the left proves, yet again, the unimaginable vastness of your ignorance.”
http://thehill.com/blogs/ballot-box/presidential-races/282631-clinton-makes-appeal-to-sanders-supporters-in-historic
Too fcuking easy.
I think this is “the left’s” way of getting the #nevertrump crowd to stomach voting for her.
Fine by me. you can have them.
Ottoman says:
August 26, 2016 at 9:23 am
“the regulation comes in based on the entity’s business activity and the left is all about regulating activity. So that’s crap.”
The fact that you think Clinton represents the left proves, yet again, the unimaginable vastness of your ignorance. Thanks for playing though.
Enough of the vitriol. You can pretty much go to every news site if you want to make fun of each others mothers. How about we all give each other a nice steamy blundell and everything will be much better.
[13] lib
I have a friend named Blundell. I’m offended
[12] DFENS
That may well be true. But it’s illusory. In fact, most of the work in entity creation is at the state level. I am hard-pressed to see what the USG can do to make entity creation easier.
Is Hillary suggesting she will roll back industry-specific regulations on business activities? I’m not hearing it and if pressed, she will be put in a box. So she won’t be pressed and this remains unanswered.
Anyway, here is something interesting for you IP/IT folks. I don’t think it goes anywhere without comprehensive corporate tax reform though.
http://www.insidecounsel.com/2016/01/01/lawmakers-consider-taxing-ip-at-a-lower-rate?eNL=57c04660150ba07566b5163f&utm_source=IC_Scoop&utm_medium=EMC-Email_editorial&utm_campaign=08262016
[13] lib
“Enough of the vitriol. You can pretty much go to every news site if you want to make fun of each others mothers.”
Some folks just need a b1tchslap for being so frigging stupid. Really, they need something else but I don’t look good in orange.
Comrade is
@democracynow
What is the “alt-right”?
.
30 year realtor says:
August 25, 2016 at 5:02 pm
Comrade, your comments to address me speak loudly. I could not paint you as a racist more clearly than you have painted yourself. Making that leap from the article you posted and backing it up with the explanation you offered is the clearest admission you could make.
Paranoia indeed
https://twitter.com/nubianawakening/status/768967422758051840
I hear they were handing out tinfoil hats at the end of her speech yesterday.
15 – ¿Como?
CBS Boston:
“New Concerns Arise about the Mental Health of College Students”
College students are having a difficult time dealing with stress. They are commiting suicide at a rate of one per day.
“College students are having a difficult time dealing with stress. They are commiting suicide at a rate of one per day.”
Pussies.
[18] twitiot,
You might be right but it’s a new term and I have to see if it applies. Probably not though, if you are using it.
[21] DFENS
How? Not sure I understand your question but consider that she is talking about start-ups. Frankly, forming an entity is not hard; I’ve done it for people here. So I don’t get what she means by saying its easier in Denmark to start a business than it is here. Most entity creation compliance is state level and that is also pretty easy.
Does she mean things like labor laws, wage and hour laws, tax compliance, Obamacare? Putting aside the state level compliance, which she cannot address, how does she expect to make those easier, especially since the dems have been all about making them tougher on business lately? Is she discussing more industry-specific regulation? She doesn’t say and perhaps there’s a very good reason–because she can’t, or won’t, actually deliver reform. Consequently, it’s an empty promise.
This saddens me just a little.
http://www.philly.com/philly/blogs/real-time/Amtrak-to-replace-flipping-departure-board-30th-Street-Station.html
[18] twitiot,
Checked out the definition. You could not be more wrong. But then, being wrong is something of a reality for you. Just like your parents’ basement.
Democrats.
LMAO!!!
Any questions?
27. Lots…like when did you suffer your first head injury?
Viral Marketing (jj Edition):
https://www.youtube.com/watch?v=6nBVD3UFIXQ
Truly, the over shoulder boulder holder ChiFi.
NY Times today-Mr. Marshall worked at the Mahoning County Sheriff’s Office for 23 years, at the jail and on patrol — a front-row seat, he said, to the city’s dramatic decline. He watched as the professional classes emptied out, and as the city’s complexion changed: Youngstown, 74 percent white in 1970, is now about evenly divided between blacks and whites.
Drugs came in, he said. The murder rate soared. Young people were dropping out of school at 15 years of age, Mr. Marshall said, because they didn’t see what kinds of work a degree would get them.
“Where are they going to go, Taco Bell?” he asked. “That’s minimum-wage jobs.”
Seven years ago, he moved away, taking a job as a corrections officer. Today, his political views are eclectic. The Democrats, he said, “failed Youngstown”: During the steel days, they were the party of overbearing regulations, the ones who told management that they couldn’t open a second blast furnace. “That’s jobs they took away,” he said.
unparalleled.
“Jimbo got it taken care of,” she said.
Out in the parking lot, Mr. Strines seconded the praise. “He just told it the way it was, and I think Trump is the same type of guy as Traficant,” he said.
Mr. Strines even asserted that Youngstown had been a better, safer place when the mob was in control. So it would be, he said, in Mr. Trump’s America.
Once upon a time, he said, everybody in Youngstown knew that if someone messed up and failed to follow certain rules, “that’s where the mob would step in.”
“That’s where Trump would step in,” he said. “Once somebody’s got fear, like Iraq will have, like China will have,” he said, the world will grow calmer. “All of those illegal aliens better pack up their toothbrushes and start running.”
Mr. Wasko wasn’t buying it: “So let’s instill fear in everyone in America,” he said sarcastically.
“No,” Mr. Strines said, “only the bad ones, man.”
“The “larger perspective” is the evolution of the global marketplace has made our current corporate chartering regime antiquated. Previous to technological advances enabling globalized supply chains, there was an implicit understanding between industry and government – an exchange of limited liability and rule of law for economic growth through employment, tax revenue and volacity of money. Now that Corps can wonder the planet in search of all of these, that implicit bargain is now one sided, as they leave the cleanup and cost of enforcing the laws to government while enjoying the spoils.
What’s needed now is a global revamping of the idea behind corporate entities; there must be some social benefit via a minimum tax and no automatic limited liability, but rather a 7 year renewal that’s vetted as the Corp files for renewal of their Corp status. As the benefits to society diminish via tax revenue or other parameters, then limited liability and tax breaks should be reduced as well.”
https://www.bloomberg.com/view/articles/2016-08-26/the-transatlantic-squabble-over-apple-s-taxes
[33] pumps
Good luck with that. Once your vision comes to pass, every multinational c suite will be in a non-extradition country.
I’ll skip to the response to the response – protectionism!!!
[35] Joyce
Most likely. If not on a national
Level, on a common market level
Grim, please advise if possible to view njrereport WITHOUT chicagofinance and comrade nom deplume posts visible. Cheers, asdf
chicagofinance, please stop posting youtube links. best regards, asdf
KKKhiKKKagofinanKKKe
Grim, please delete my earlier posts. I’m finishing second pint of favorite drink, vodka. -asdf
34- Nom, as I have alluded to in the past, my focus on that passage was on the quote below. Corporations no longer hold their end of the bargain within the societies they conduct business. This applies across the world, but let’s just focus on American society to keep it simple. How is it that we are richer than we have ever been before, making more revenue than ever before, but US governments at every level can’t support the cost of society? We built huge infrastructure spending projects in the past on less money and wealth, so what’s the problem today with the lack of funding for infrastructure? Corporations are not playing their role in our society. They have reneged on their end of the deal with the people(govt is the people) that provides the laws for them to safely conduct business by skipping out on their payments to maintain society. I don’t care about the 35% corporate tax rate, it means absolutely nothing when no one is paying it. Corporations hijack state politics and pit state vs state against each other by hanging jobs in the air in exchange for huge tax breaks. So the states give giant tax breaks just to keep jobs here, and the result is that these jobs are mostly paid for by the taxpayer, not the corporation…. How the fu!k is that right on any moral level? They are becoming parasites to the US citizens, just using the populace to enrich themselves at the expense of everyone in that society. It’s wrong on every level(economics, politics and ethics). Now these corporations are getting even greedier, they are pitting country vs country, and holding them hostage with jobs. WE WANT JOBS, BUT AT WHAT COST?
“an exchange of limited liability and rule of law for economic growth through employment, tax revenue and volacity of money.”
[41] pumpkin
You raised more than just a tax issue. You might not have intended to, but you did.
[41] pumps
And I’d revisit the definition of “parasite”. Or should I quote Indigo Montoya for you?
Don’t be like that.
Nom brings a lot of knowledge to this board. Sure he is the defender of the red guard, but deep down he is a highly intelligent individual that is a morally good guy. He just can’t let his love of the red team overtake who he really is. So stop taking a position that you know is wrong, but because team red takes it up, you must too.
Chi has major anger issues. This anger prevents a highly intelligent individual from contributing much to this blog anymore. His posts lack any sort of intelligence, and instead are consumed with anger. Chi, snap out of the negativity, and start posting at the level you are capable of. Myself included, we would all love to learn from you. Might not agree with your positions, but that doesn’t mean people are not learning from you. Use your God given intelligence for good, you were given it for a reason. Enlighten the world. Stop focusing on negativity.
Im no where near as intelligent as you guys, but I am intelligent enough to see the problems haunting you two. This is not an attack, it’s an honest assessment that hopefully gets you to see the light.
asdf says:
August 26, 2016 at 11:47 pm
Grim, please advise if possible to view njrereport WITHOUT chicagofinance and comrade nom deplume posts visible. Cheers, asdf
Yes, it’s more than a tax issue, it’s a moral issue. Unfortunately, the people running these giant corporations have lost their morals along the way.
Comrade Nom Deplume, the Deplumiest. says:
August 27, 2016 at 7:51 am
[41] pumpkin
You raised more than just a tax issue. You might not have intended to, but you did.
Yes, it’s more than a tax issue, it’s a moral issue. Unfortunately, the people running these giant corporations have lost their morals along the way.
Not true. These people give selflessly to the Clinton foundation out of the good of their heart to make a difference in the world.
Did anyone else know that Taylor Ham hasn’t had the word “Ham” on the packaging for 110 years now?
[44] Pumpfalse:
Nom brings a lot of knowledge to this board. Sure he is the defender of the red guard, but deep down he is a highly intelligent individual that is a morally good guy.
I fully agree.
He just can’t let his love of the red team overtake who he really is.
Disagree.
Rather, I would say that you are heavily burdened by an inferiority complex so great that you can’t let your love of whatever you conjured up in your head five minutes ago be overtaken by provable facts or verified data. This is probably best illustrated in your own admission of being and intuition-based investor.
1. You think it.
2. It must be true because you thought it.
3. Any admission that something you thought up is not true would bring your self esteem down to an even lower level and you can’t bear that, so you can never be wrong.
Pumpfalse, your own words.
The investment “plan”:
“I did what my intution told me to do with the free money available for 3o years, take advantage, and get as much as they would allow you. Buy depressed asset with unbelievable rates combined with an unbelievable time period(30 years). If they let you take it, you take it, and as much as they will give you.”
The rationalization:
Taxes are the cost of society in the location that I live. It wasn’t wasted money. Very very happy
Taxes are the cost of society in the location that I live. It wasn’t wasted money. Very very happy
Taxes are the cost of society in the location that I live. It wasn’t wasted money. Very very happy
Taxes are the cost of society in the location that I live. It wasn’t wasted money. Very very happy
Taxes are the cost of society in the location that I live. It wasn’t wasted money. Very very happy
Taxes are the cost of society in the location that I live. It wasn’t wasted money. Very very happy
Taxes are the cost of society in the location that I live. It wasn’t wasted money. Very very happy
You are blind, it does overtake him and his thought process.
“He just can’t let his love of the red team overtake who he really is.
Disagree.”
I would say the blind person would be the one that doesn’t realize his “depressed asset” hasn’t even kept up with inflation because it wasn’t depressed at all, it was overpriced.
If you can prove my positions wrong, why would I go against it? I will try to work on my inferiority complex. It does make me stubbornly stick to a position till proven otherwise.
I will not sway from intuition when it comes to investing. It hasn’t steered me wrong, yet. You can’t hit it big in investing without some sort of intuition. The analytics are a lot of times contradictory and you must use your intuition to prosper.
“Rather, I would say that you are heavily burdened by an inferiority complex so great that you can’t let your love of whatever you conjured up in your head five minutes ago be overtaken by provable facts or verified data. This is probably best illustrated in your own admission of being and intuition-based investor.”
If you can prove my positions wrong, why would I go against it? I will try to work on my inferiority complex. It does make me stubbornly stick to a position till
proven otherwisemy death.I will not sway from intuition when it comes to investing. It hasn’t steered me wrong, yet. You can’t hit it big in investing without some sort of intuition. The analytics are a lot of times contradictory and you must use your intuition to prosper. Pancake in a can and overpriced home with high taxes on a highway speed commuting road. Good work.
Inflation has been nowhere, real estate prices have moved up in most locations, some locations significantly, therefore you are wrong. If you did my plan(that quote in post 49 was from 2013 or 2014) to borrow as much as they would give you, and purchased in say ridgewood or jersey city, how much would you have made in 3 years? Rest my case. So “depressed asset” going up makes absolutely no sense in an environment of almost no inflation.
The Original NJ ExPat says:
August 27, 2016 at 9:31 am
I would say the blind person would be the one that doesn’t realize his “depressed asset” hasn’t even kept up with inflation because it wasn’t depressed at all, it was overpriced.
[54] So which was it? You were wrong about the asset being depressed or you bought the wrong house in the wrong town? Maybe both? It sounds to me like your intuition-based investing scheme is 0 for 3 (counting Pancake in a can).
Inflation has been nowhere, real estate prices have moved up in most locations, some locations significantly, therefore you are wrong. If you did my plan(that quote in post 49 was from 2013 or 2014) to borrow as much as they would give you, and purchased in say ridgewood or jersey city, how much would you have made in 3 years? Rest my case. So “depressed asset” going up makes absolutely no sense in an environment of almost no inflation.
It’s a penny play, and the stock has held pretty steady awaiting news that is due any day now. They paid off all their toxic funding, now why? I’ll still hang onto this in the hopes for a big jump on news. I will sell and make way more profit than anything on the big boards. Don’t need much to sell. 50% to 100% is fine with me. Done it before on other Otc plays, and will do it with this one.
Overpriced home? Says who? Can you find me a similar home for cheaper? If you can, I’ll sell my home and buy it. Btw, I have no problem with the double line road. It does impact my quality of life at all. I think people make it a bigger issue than it really is. I’ll take the sleight discount because idiots like you won’t live on a double lined road.
Btw, it’s not a constant stream of cars(busy) like you imply, I’m sure some streets with no lines have more cars passing by.
“Pancake in a can and overpriced home with high taxes on a highway speed commuting road. Good work.”
[55] Pumpfalse, your statement was from 9 months ago. You made the bad intuition-based decision many years ago, so now you have to repeat your bad premise over and over rather than admit you were wrong and move on. See? You even have trouble with factual accounting of your own statements. The truth hurts. I’ve bolded some of your language that shows you are no investor. You are a gambler. If you talk to a gambler, they always win. Who does that remind you of?
The Great Pumpkin says:
December 16, 2015 at 8:00 pm
22- Grim, our thoughts are not much different when it comes to end of the housing market. Stand by my statements in my debates with fast eddie and clot back in 2013. I stated it was a great time to buy and that pretty much any property you buy in 2013 will be worth significantly more in 2025 in the next housing bubble. Mostly, anytime you buy real estate in the downward part of the cycle, you don’t lose. With how bad the housing market was in the past 10 years, you can bet it created conditions for extremely good buys. <bI maxed out on my purchase. I did what my intution told me to do with the free money available for 3o years, take advantage, and get as much as they would allow you. Buy depressed asset with unbelievable rates combined with an unbelievable time period(30 years). If they let you take it, you take it, and as much as they will give you. When they tighten the loan market, you jump to get a loan, esp when they are bribing you with unbelievable low rates that basically equate to free money. They needed people like me with good credit and a down payment to try and stabilize the housing market, and I needed them and their free money. Funny, last time I stated it was free money, people on this board blasted me and told me that quantative easing/low rates are here for good. Today, we witness the first step in the rise in rates and a return to a normal market/economy. Glad I took full advantage of the abnormal market that created great prices on real estate, and at the same time provided abnormally low rates. Thank you, governor!!!
The gains that will hit Wayne in the next 10 years will be significant. This a long term play. Wayne is prob one of the best values you can hit in north jersey right now. They are not outrageously priced and lots of room to grow. So while the huge gains hit the top wealthy towns in the past 5 years, the areas below them should see significant growth in the next 10 years. Remember, Wayne has a train and bus to the city. Also, don’t discount the impact the rt 3/46 construction project will do to value in areas impacted by it, like Wayne.
The Original NJ ExPat says:
August 27, 2016 at 9:49 am
[54] So which was it? You were wrong about the asset being depressed or you bought the wrong house in the wrong town? Maybe both? It sounds to me like your intuition-based investing scheme is 0 for 3 (counting Pancake in a can)
Keep trying. Are you slow? I might have posted it in 2015, but I was referring to 2013 posts. I stand by that post below.
“22- Grim, our thoughts are not much different when it comes to end of the housing market. Stand by my statements in my debates with fast eddie and clot back in 2013. I stated it was a great time to buy and that pretty much any property you buy in 2013 will be worth significantly more in 2025 in the next housing bubble.”
[58 & 59] Never wrong, never sorry, consider themselves infallible. Trademarks of degenerate gamblers. Did moving further West help with your Meadowlands bad habit?
So were you right about this a little over 8 months ago? I bet you can’t even say it, you’re like the Fonz. I was wr-wr-wr-wr….
Today, we witness the first step in the rise in rates and a return to a normal market
61- Was it not the first step towards a normal market? Do you think the fed will lower rates in the next meeting?
The Original NJ ExPat says:
August 27, 2016 at 9:23 am
Pumpfalse, your own words.
The investment “plan”:
“I did what my intution told me to do with the free money available for 3o years, take advantage, and get as much as they would allow you. Buy depressed asset with unbelievable rates combined with an unbelievable time period(30 years). If they let you take it, you take it, and as much as they will give you.”
The rationalization:
Taxes are the cost of society in the location that I live. It wasn’t wasted money. Very very happy
Taxes are the cost of society in the location that I live. It wasn’t wasted money. Very very happy
Taxes are the cost of society in the location that I live. It wasn’t wasted money. Very very happy
Taxes are the cost of society in the location that I live. It wasn’t wasted money. Very very happy
Taxes are the cost of society in the location that I live. It wasn’t wasted money. Very very happy
Taxes are the cost of society in the location that I live. It wasn’t wasted money. Very very happy
Taxes are the cost of society in the location that I live. It wasn’t wasted money. Very very happy
https://www.youtube.com/watch?v=OZpgnYhzdkI
60 ex so true. Never sorry. Never wrong that is the pumps.
60- Give me a break already. When I’m wrong, I admit it. Sorry, don’t agree with you on the things that you think I’m wrong about. Are you trying to say that Wayne prices will go down, since you state they are overpriced? I think I’ll stick to my position on Wayne.
Okay, what are taxes the cost of. Enlighten me.
[63] chifi- LOL. I remember when that episode was new. Probably ’92 or so.
[62] No. You probably have no need to understand what the long and short ends of the yield curve are, so it shouldn’t matter to you. Given your intuition-based investing gambling style, and all.
About $18K and some marital strife, in your case.
Okay, what are taxes the cost of. Enlighten me.
If I knew how to lay a bet on it in Vegas, I would. It’s a sure thing. When Pump bets red, he keeps doing it ’till he’s dead.
I think I’ll stick to my position on Wayne.
Hahahahaha. That’s a good one. List 3 things you were wrong about, or everything you were ever wrong about, whichever list is shorter.
60- Give me a break already. When I’m wrong, I admit it.
Eclipse Neon
68- Jesus, is not all investing a form of gambling? You are putting up money, in the hopes of getting a return on your money and not losing it. All that matters is the risk equation involved. Some bets you won’t make as much money, but you will also limit your chance at losing anything. Some, for example, penny stocks you have a chance to make significant gains, but you also increase your odds of losing your entire investment. It’s all relative and it’s all a gamble, don’t kid yourself.
That’s why they recommend “diversifying” to the common individual. You place enough bets, you should come out ahead. Why do you think dart throwing for your stock picks can beat out financial pros? The consistent winners in the market, like buffet, use insider knowledge to consistently make good returns. Too bad he leaves that part out when he gives advice.
69- you never answered my question. What are taxes the cost of?
Did anyone else know that Taylor Ham hasn’t had the word “Ham” on the packaging for 110 years now?
What was funny was that they had to rebrand it due to some “pure food” act passed.
73- just want to clear this up, in case it wasn’t clear. Investing is a FORM of gambling in that you can lose money. It is not a pure form of gambling in that you are not betting against house odds not in your favor, and you can minimize losses, as opposed to winning or losing everything in a bet.
[76] Pumpfalse – Of course it is, because your pea-brain just thought it up and typed it out; it has to be true, because you’ve never been wrong.
[74] Real Estate taxes are your rent. Your town is your landlord. Stop paying your rent and your landlord will be glad to prove it to you. If you are up to date you have paid close to $12,000 in rent this year so far. Lucky for you it includes plowing the highway out front.
Bonneville Salt Flats?
Btw, it’s not a constant stream of cars(busy) like you imply, I’m sure some streets with no lines have more cars passing by.
So paying rent to your Landlord doesn’t get you anything in return? So paying rent to your town didn’t provide you with any of the following; parks, roads, emergency services, elimination of sewage waste, clear roads after the snow, a great education system, low crime, and providing the right class of people in your neighborhood that can afford to rent from the town. I didn’t even provide all the services. All this stuff is free, buddy? Can’t stand you anti-tax heads who think the costs of good neighborhoods and towns are free. You will never get it.
The Original NJ ExPat says:
August 27, 2016 at 12:28 pm
[74] Real Estate taxes are your rent. Your town is your landlord. Stop paying your rent and your landlord will be glad to prove it to you. If you are up to date you have paid close to $12,000 in rent this year so far. Lucky for you it includes plowing the highway out front.
i am wrong. I’m wrong about many things. I learn from them and move on. Which is exactly what you should do on the issues that you think I’m wrong about. If I would have listened to you or fast Eddie types back in 2012, I would be renting, and missing out on 50,000 in increased asset value, while not building any equity in my asset. So tell me how wrong I am again.
The Original NJ ExPat says:
August 27, 2016 at 12:20 pm
[76] Pumpfalse – Of course it is, because your pea-brain just thought it up and typed it out; it has to be true, because you’ve never been wrong
Expat, so my 38.5% return on my money (130,000 down payment last week 2011)was a bad move? Yes, not as good as the stock market during those years, but almost no risk involved because I was buying at the bottom. Yea, I’m some idiot…..why didn’t I rent?
“As you learned in The Great Real Estate Myth, the actual value of real estate hardly ever increases in inflation-adjusted terms (there are exceptions, of course). This is made up for by the power of leverage. That is, imagine you buy a $300,000 property by putting in $60,000 of your own money, and borrowing the other $240,000. If inflation goes up 3% because the government printed more money and now each dollar is worth less, then the house would go up to $309,000 in value. Your actual “value” of the house hasn’t changed, just the number of dollars it takes to buy it. Because you only invested $60,000, however, that represents a return of $9,000 on $60,000. That’s a 15% return. Backing out the 3% inflation, that’s 12% in real gains before factoring in the costs of owning the property. That is what makes real estate so attractive.”
https://www.youtube.com/watch?v=J8moax_85j8
Got a cold market home
I got a cold market home
Yes, I got a cold market home
Got me so blind I can’t see
But she’s a cold market home
And she’s tryin’ to make an assh0le out of me
Don’t deflate on me baby
Don’t deflate on me baby
Yes, don’t deflate on me baby
You’re messin’ around with your tricks
Don’t deflate on me baby
‘Cause you might just break up my magic schtick
You got your spell on me baby
You got your spell on me baby
Yes, you got your spell on me baby
You’re turning my heart into stone
I need you so bad, Colonial, I can’t leave you alone
Love the tax on you baby
Love the tax on you baby
Yes, Love the tax on you baby
It’s how I pay for society
Love the tax on you baby
I’ll pay it forever while praying for some equity
“As you learned in The Great Real Estate Myth, the actual value of real estate hardly ever increases in inflation-adjusted terms (there are exceptions, of course). This is made up for by the power of leverage. That is, imagine you buy a $300,000 property by putting in $60,000 of your own money, and borrowing the other $240,000. If inflation goes up 3% because the government printed more money and now each dollar is worth less, then the house would go up to $309,000 in value. Your actual “value” of the house hasn’t changed, just the number of dollars it takes to buy it. Because you only invested $60,000, however, that represents a return of $9,000 on $60,000. That’s a 15% return. Backing out the 3% inflation, that’s 12% in real gains before factoring in the costs of owning the property. That is what makes real estate so attractive.”
Then sell it, pay the real estate agents, and count your profits.
Closing costs on the purchase
Joyce. Those don’t count.
Neither does RE Taxes, Utilities, and Maintenance. $100,000 in taxes to make $50,000 in equity over 5 years. Pumps doesn’t get that those things all get paid in dollars.
And insurance, of course. The bank doesn’t want to see its house burn down.
And debt service, which should be zero, because after all its free money, no interest charged at all.
Maybe when he completes his Refi and finds out his new mortgage balance is as big or bigger than his original balance Pumps will realize his debt is growing instead of shrinking, no matter his previous payments to bank and society.
[37-40] asdf
If you need a safe space, this isn’t it.
I suggest you find one that has vodka. Any dive bar without wifi should suffice.
I heard the flap and later saw the reason.
http://video.foxnews.com/v/5101823610001/nfl-quarterback-refuses-to-stand-during-national-anthem/?#sp=show-clips
This isn’t news nor was it when Gabby Douglas appears to diss the anthem. Watch any pro sports event and you’ll see a very clear line of demarcation. It’s been the case for some time now.
[91] Nom – How refreshing is this?
https://chicagomaroon.com/2016/08/24/university-to-freshmen-dont-expect-safe-spaces-or-trigger-warnings/
I
Smells like Trump bait to me.
http://www.nfl.com/news/story/0ap3000000691077/article/colin-kaepernick-explains-why-he-sat-during-national-anthem
Point is, in a crappy part of the business cycle and housing cycle (one of the biggest busts in both cycles in a hundred years), I was still better off owning as opposed to renting. How much would it cost to rent my home? A lot of money. 3,000 at the minimum, and that’s cheap. More like 4,000. So spending prob 48,000 a year.
So now when the business cycle and housing cycle go into their next boom period, that’s where the real money will be made. Each cycle provides higher highs and higher lows.
Only time it makes sense to rent instead of buy, is at the upper levels of boom before it crashes. So not too often.
[95] Pumpfalse: You should rent out some space at a hotel and give seminars on your successful intuition-based investing
stylescheme.[95] PS You don’t own. You rent from the town and your bank owns the bulk of your highway motel. Hey that gives me an idea that might bail you out a little Maybe pave the front lawn for parking and do some AirBnb to mitigate your day-to-day losses until the next bubble in 2045?
Expat, do you live for free? You seem to have a problem paying for anything. You do realize you can’t take the money with you, right?
The funny part, you are advocating on this blog that you want to sell and rent. Wtf for? If you can afford to own, why would you want to rent? You have a few screws loose in your head.
I’m making something out of nothing. I’m one of the best investors that I know my age. I’m not doing some get rich quick scheme, but I’m on my way to being extremely wealthy in time. I know a million isn’t sh!t these days, but I made my first million before the age of 34, only gets easier from here if you know what you are doing. I got 99 problems, but making money isn’t one.
The Original NJ ExPat says:
August 27, 2016 at 11:11 pm
[95] Pumpfalse: You should rent out some space at a hotel and give seminars on your successful intuition-based investing style scheme.
97- Bubble in 2045? You are def messing with me. Bubbles don’t come every 40 years, and you should know this better than me based on your age.
Ex-pat ….some variation of this video should prove useful….
http://www.youtube.com/watch?v=lUHsq4G5-Tc
Expat, this is what I always meant with inflation, low rates, and a long term loan, but it flew right over your head. Instead you mocked me about the inflation.
“One of the ways that the savviest real estate investors can make money in real estate is to take advantage of a situation that seems to crop up every few decades: When the rate of inflation is projected to exceed the current rate of long-term debt, you might find people willing to gamble by acquiring properties, borrowing money to finance the purchase, and then waiting for inflation to increase. That way, they can pay off the mortgages with dollars that are worth far less. This represents a transfer from savers to debtors. You saw a lot of real estate investors making money this way in the 1970s and early 1980s as inflation began to spiral out of control before Paul Volker took a 2×4 to its back and brought it under control by drastically raising interest rates.”
102- That’s why I claimed it was free money, but you never understood it. You know damn well I’m banking on rates going up to tame the inflation that will come. Just as it’s hard to fathom that rates would go this low and stay this low for this long, the same mindset now thinks low rates are here for good and inflation will never come. To those people, that includes you expat, I have a beautiful bridge to nowhere for sale, interested? 75% off just for you, since I like you so much.
[103] Uhhh…There is this country called Japan.
Bravo pour ce superbe travail !!!