From CNBC:
Home prices will not fully recover until 2025, and a new report explains why
Check out any one of the many national home price reports, and headlines scream of new peaks and growing gains each month. Home prices are rising faster than inflation, faster than incomes and faster than some potential buyers can bear. Those reports are heavily weighted toward large metropolitan housing markets.
In fact, most of the U.S. housing market has not recovered from the epic crash of the last decade.
Only about one-third of homes have surpassed their pre-recession peak value, according to a new report from Trulia, a real estate listing and analytics company. Price growth in most markets is so slow that it will take about eight years for the national housing market to fully recover — that is, for all home values either reaching or surpassing their previous peaks.
…
To say that the housing recovery has been uneven is an understatement. Some markets that have seen huge employment and population growth in the last decade, such as Denver, Seattle and San Francisco, lead the news with bubble-worthy headlines.Not only have home prices there surpassed their recent peaks, they continue to rise at double-digit paces. Nearly all the homes in Denver and San Francisco (98 percent) have exceeded their pre-recession peak, according to Trulia. Other less obvious markets, like Oklahoma City and Nashville, Tennessee, have also seen the prices of most homes surpass their peak.
In areas hit hardest by the foreclosure crisis, fewer than 4 percent of homes have recovered to pre-recession price peaks. These include Las Vegas; Tucson, Arizona; Camden, New Jersey; Fort Lauderdale, Florida; and New Haven, Connecticut.
…
Overall, the housing recovery has been limited to a mix of markets in the West seeing huge economic growth and in parts of the South where the housing crash didn’t hit as hard. Outside of major markets, the recovery is strongest in the heartland and the Pacific Northwest, which are both seeing bigger employment and income growth.
We’re all Puerto Rico now:
Puerto Rico Declares a Form of Bankruptcy
With its creditors at its heels and its coffers depleted, Puerto Rico sought what is essentially bankruptcy relief in federal court on Wednesday, the first time in history that an American state or territory had taken the extraordinary measure.
The action sent Puerto Rico, whose approximately $123 billion in debt and pension obligations far exceeds the $18 billion bankruptcy filed by Detroit in 2013, to uncharted ground.
While the court proceedings could eventually make the island solvent for the first time in decades, the more immediate repercussions will likely be grim: Government workers will forgo pension money, public health and infrastructure projects will go wanting, and the “brain drain” the island has been suffering as professionals move to the mainland could intensify.
Puerto Rico is “unable to provide its citizens effective services” because of the crushing weight of its debt, according to a filing on Wednesday by the federal board that has supervised the island’s financial affairs since last year.
…
While many of Puerto Rico’s circumstances are unique, its case is also a warning sign for many American states and municipalities — such as Illinois and Philadelphia — that are facing some of the same strains, including rising pension costs, crumbling infrastructure, departing taxpayers and credit downgrades that make it more expensive to raise money. Historically, Puerto Rico was barred from declaring bankruptcy. In the end, however, financial reality trumped the statutes, and Congress enacted a law last year allowing bankruptcy-like proceedings.
Paul Ryan looking awful these days. I hear Trump keeps him locked up in the dungeon at the White House. What happens when they don’t have the vote tonight?
French Mommy issues alert – 39 year old Macron’s wife is 64. They’ve been married for 10 years. If elected, he’ll have two Mommies, his wife and Merkel.
Here’s a picture of Macron kissing his future wife — when he was 15 years old and she was older than he is now.
https://www.thesun.co.uk/news/3402012/brigitte-trogneux-wife-emmanuel-macron-french-president-election/
She was his teacher, btw.
Macron does not have any biological children with his wife, although he is also the step-grandfather of Brigitte’s seven grandchildren.
Now she is his beard, that guy is a co*ck holster.
Rep. Debbie Wasserman Schultz, D-Fla., stepped up to bat for former President Barack Obama on Tuesday after he was criticized for accepting $400,000 for a speech at a Wall Street firm’s healthcare conference in September.
“Of all people to question … their commitment to getting money out of politics, to really making sure we restored integrity to political finance process, President Obama couldn’t have done more,” Wasserman Schultz told CNN host Erin Burnett on Tuesday evening.
LOL. That’s probably why Obama endorsed Clinton. The Clintons have always had strong “commitment to getting money out of politics”. In fact, no family has worked harder to getting as much money as possible out of politics, I would dare say.
http://www.washingtonexaminer.com/wasserman-schultz-public-should-mind-your-own-business-on-obama-400k-speaking-fee/article/2621955
LOL. The world is Bill Clinton’s c0ck holster. Huma Abedin is a dry, beefy, cl1t holster.
Now she is his beard, that guy is a co*ck holster.
3b,
From yesterday’s stocks vs. RE investing.
I would agree with you that over the last 20 years, even with the housing bubble bursting, RE made for a better investment. But 20 years is not that long of a period of time. When RE dips again (and I have a feeling it will pretty soon), stocks will reign supreme. As for renting vs. owning, I don’t see it. Even in NJ, the tax and regulation state. Perhaps at the lower end of the spectrum where taxes are lower maybe? But once you enter the 500K realm, these people willing to rent for $3,000 a month are definitely losing if they rent for more than a couple of years. Heck…in 30 years, they will have paid 11 times the purchase price of the home. Carrying costs, even at a 1/3rd more than the mortgage payment won’t even take you close to that number. And then when you factor in the mortgage and prop tax deduction? Huzzah!
Moana,
David Axelrod slams Clinton: ‘It takes a lot of work to lose to Donald Trump’
Macron will not win, Le Pen is in the bag.
Clearly the person is lost. Ft. Lauderdale Fl is exploding!
WTF?
“Barack Obama has made a last-minute intervention in the French presidential election in support of Emmanuel Macron, saying “the success of France matters to the entire world”
https://www.theguardian.com/world/2017/may/04/barack-obama-backs-macron-in-last-minute-election-intervention
I agree, but at least Macron has a consolation bag; he’s been in for about 25 years now;-)
Macron will not win, Le Pen is in the bag.
These guys are missing a great marketing opportunity. They should offer a discount 1-way tour and call it something like “Become an Undocumented Immigrant Snowflake” or
“Democrat Party of the Future Immersion Experience”
http://cuba.vacationexpress.com/
Those Fidget Toys are at mania levels now.
Bought a house at Sussex sheriff sale yesterday. A Toll Brothers monstrosity of about 5600 GLA that sold for 1,060,000 new in 2006. Paid $451,000. Market is weak but there were 2 recent sales of inferior homes in the same development between 650 and 700. Development is not completely built out and probably will not be for quite sometime. We paid less than the construction cost without land. Recent sales barely cover construction cost to build new.
30 year – in Sparta?
Jesus, that’s insane. How many bidders?
Yes, Sparta.
Me and one other bidder. Upset price was 435.
Well congrats, that’s one hell of a deal.
Fidget mania will end with the school year. It’s today’s rainbow loom.
Removed the JJ.
Those toys are a genius move. The sealed bearings are all QA failures put to good use instead of the scrap heap. I’m familiar with these because I have some very high end bicycle hubs that use similar bearings. If you spin the outer bearings in your hand you’ll notice some are tighter than others and I’m sure the center one is one that spins real well, but has too much lateral play. Also, if you look closely, they aren’t even identical in model number. The toys are running as cheap as 72 cents with free shipping on eBay right now. My kids have had them since Easter, my wife bought them for their Easter baskets.
Those Fidget Toys are at mania levels now.
Steam,
The wildcard on the rent vs buy thing is job stability / mobility. 2 years into home ownership and you need to move for a paycheck can be lethal depending on the timing of it all. Better towns in NJ have to be near the 07 peak. How many put their head in the housing guillotine now knowing that job stability ain’t what it used to be. Single income with kids below 5 in todays world must suck.
Fed doesn’t seem deterred on raising rates. Equity values insane. Somethings got to give and it will come fall.
Chi, any clients trying to short sub-prime auto ABS?
“Fed doesn’t seem deterred on raising rates”
Yet they didn’t this week. Not sure why not? If they won’t do it now, then when?
I hear and fully understand your argument about mobility, which is why I always the need to be able to stay in one place for around 7 years or so at the minimum. For NJ, proximity to NY keeps me less worried (as well does work ethic and experience). I am the squeaky wheel. If you are not, then renting might work out better. But why stay around here?
Here is what is being put forth today with the Repeal vote looming.
The American Health Care Act will cover people with pre-existing conditions. Here’s how:
Competition and market forces will lower premiums, making health care easier for people to afford.
Those who still have trouble affording health care will receive refundable tax credits according to their need to help them purchase insurance.
Nobody will be charged higher premiums if they keep up their coverage.
Nobody can be denied coverage.
And for all the concern about states receiving waivers from Obamacare regulations, every state that makes that choice will receive hundreds of millions of dollars to fund high-risk pools that cover costs for those with pre-existing conditions—including $8 billion provided for in the Upton amendment, set aside to bring down premiums and out-of-pocket costs for the small group that could have fallen into the gap.
That isn’t just protection for people with pre-existing conditions—that’s a five-layer defense. To claim or imply that our plan doesn’t cover pre-existing conditions is a lie. The American Health Care Act will cover those with pre-existing conditions while decreasing the cost of health care overall and resurrecting an insurance marketplace that provides people choices they can afford. That’s much better than Obamacare’s dead-letter deal.
Is the land subject to Highlands act restrictions?
Most people don’t have insurance because they can’t afford to buy it…not because they have a pre-existing condition. Too much emphasis is being placed on pre-existing conditions.
Lib – The futures market tells us that the Fed will not raise at a “non-press conference” meeting, or at least the market does not expect them to.
Yet they didn’t this week. Not sure why not? If they won’t do it now, then when?
re: “If they won’t do it now, then when?”
Depends when “they” want the recession to start. When is money going to move from Stocks to Bonds?
Other than the lakefront who would want to live in a million dollar home Sparta?
“Depends when “they” want the recession to start. When is money going to move from Stocks to Bonds?”
I would argue then that they are done raising rates. This IS the wimpiest FED I can ever remember.
I think most people who don’t have health insurance don’t have it because they can’t afford it without giving up things (car leases, cable TV, cell phone data plans, eating out, drinks out at clubs, etc.). That said, the whole pre-existing conditions thing is a bit of a conundrum. Should you be able to buy fire insurance after your house burns down? Collision insurance after you hit telephone pole while texting? Blackjack insurance after the dealer turns his ace? It really defies calling it insurance if you wait for catastrophe and then buy “insurance”. My addled SIL, despite driving uninsured beater cars her whole life (in NH you don’t have to buy car insurance, but people with assets to lose do. We had it when we lived there) yet she doesn’t have AAA. I think AAA does allow you to buy membership on the spot, but there has to be some premium attached to doing this. My SIL, OTOH, is absolutely convinced that the cost is exactly the same whether you buy AAA up front or wait until you are stuck on the side of the road to give them your credit card number. That just can’t be true, but she won’t hear of it. Well, it just can’t be true for health insurance either, right? My guess is that a very real danger to the health insurance system is that people without insurance will fail to get regular exams with the thought that, “so long as I haven’t been diagnosed with anything, I don’t have any pre-existing conditions.” That way they can tell themselves if they feel really, really sick, they can go buy the insurance and then go to the doctor, though I’m not sure if the really poor even give any thought to this kind of brinksmanship.
Most people don’t have insurance because they can’t afford to buy it…not because they have a pre-existing condition. Too much emphasis is being placed on pre-existing conditions.
“Other than the lakefront who would want to live in a million dollar home Sparta?”
But think of the short commute to Space Farms.
I had to look up brinksmanship [sic] to see if I was using it correctly. I was, but I spelled it incorrectly.
brink·man·ship
/ˈbriNGkmənˌSHip/
noun
the art or practice of pursuing a dangerous policy to the limits of safety before stopping, typically in politics.
My kid cost BCBS 2.5 million last year.
If I am laid off and the D relapses. What do I do? This is where the preexisting comes in. Sorry, but you solve the problem with Single Payer. But our government sucks the c0ck of the insurance lobbyist.
In Australia, you are fined for not voting and the citizens have no issue with it.
In America, if the government requires you obtain a medical check-up annually, it would start a friggin’ revolution.
30 year – I must be out of touch with build construction cost. I know a GC’s cost to build a 4000 sf house with unfinished basement, 3 garages (typical Hunterdon County 20o2 fare) was about $150K before appliances and land. How much would that be today?
Bought a house at Sussex sheriff sale yesterday. A Toll Brothers monstrosity of about 5600 GLA that sold for 1,060,000 new in 2006. Paid $451,000. Market is weak but there were 2 recent sales of inferior homes in the same development between 650 and 700. Development is not completely built out and probably will not be for quite sometime. We paid less than the construction cost without land. Recent sales barely cover construction cost to build new.
Obviously the doctors involved are conservatives and libertarians….
Don’t these pigs understand the moral authority of soci^l!sm?
http://nypost.com/2017/05/03/baby-born-with-two-heads-expected-to-survive/
It blows my mind that they can build a 4000 sq foot home for 150K, yet when I get an estimate to say, dormer out my 3rd floor and put in a bathroom, it’s 80K. Heck, a roof is 13K. A boiler 7K. Repave your driveway 5K. Want knew wood windows? $800 each. I’m in the wrong business.
I think the problem is that there are more c0cks wrapped in insurance cash on K street then there are holsters on the hill. I would be INCREDIBLY surprised if ANY insurance is EVER available across state lines. That is the stronghold that the insurance industry has been fighting for and winning since forever, no government oversight, only state. The industry is so gargantuan (more US employees than the postal system) that they can easily overpower any state. The largest industry in the world is only regulated at the state level, it’s ridiculous. Even in New York, which has one of the best Insurance Departments of any state, they are made to bend over as well. The New York State insurance department not only limits commissions on insurance products, it mandates that their set commission rates can not be exceeded in any other state in which the insurance company operates. No problem. Each insurance company merely set up a separately operated company top operate just in NY. Their NY companies meet the NY rules because that is the only state in which they operate.
But our government sucks the c0ck of the insurance lobbyist.
Chi…did you read this?
“The hospital reportedly did not charge the family for any costs and the baby is recovering well.”
I love India. In all of its poor and smelliness.
Original, no freekin way.
In 1991 I was the GC for my house, about that size, and I built in in Hunterdon county. With septic and well, and using labor costs that were cut to the bone because of the severe building recession (worst since the Great Depression) my cost was about $65sqft.
Land cost not included. I did have extras in the house that only custom homes would have but no way could one build for that amount unless they did most of the labor themselves. Current construction costs are now about $120 sqft. Labor hasn’t gone up so much as materials and of course, regulatory requirements. Septic is the killer.
Lib – It blew me away when I heard that too, but it came from a highly reliable source, a family member who is an EVP at a huge international construction firm. I was thinking about the huge mark-up in construction when I bought a case (12 count) of recessed dimmable ceiling LED light bulbs for less than $40 at Home Depot, that’s just over $3 per bulb. Can you imagine the markup if your kitchen guy is spec-ing out your new kitchen and he offers you the choice between incandescents at the low end, compact fluorescents, dimmable compact fluorescents, LED, or the top-of-the-line, lasts for a dozen years, highest efficiency, instant-on, uses 14 cents worth of electricity per year dimmable LEDs as the top tier? And the top tier only costs the contractor $3 each? You know he’s selling them at $15 per.
It blows my mind that they can build a 4000 sq foot home for 150K, yet when I get an estimate to say, dormer out my 3rd floor and put in a bathroom, it’s 80K. Heck, a roof is 13K. A boiler 7K. Repave your driveway 5K. Want knew wood windows? $800 each. I’m in the wrong business.
New roof should cost $200 a square. Don’t get quoted for a roof until late fall. Labor costs get cut in half that time, for obvious reasons. My son in Boston area got raked for a new roof $6000 for less than 15 squares 2 years ago. He and his FIL thought they knew better.
Boiler for $7k is right on the money when you consider the cost of the unit and materials themselves add up to $4k+ typically. I last changed a boiler, was for our lake house 4 years ago. Did it all myself, 2 zones plus DHW. Saved ourselves $4k over a pro installer.
Grim all the polls in France are predicting he wins with a substantial majority.
I know the costs decrease significantly when building a development. But a one-off built on spec can’t be that cheap.
This reminds me of when my AC went on my 95 Civic in 96. The option on the $9,900 car was $600. Well a rock kicked up and blew a hole in the compressor. The replacment cost? $1,200. It wasn’t warranted since it was supposedly an act of nature. A couple of years later, the AC compressors were recalled due to poor strength of the housing and I got my money back. But it’s crazy that it costs twice as much to repair than it cost to have it installed originally. I read somewhere that the cost of all of the replacement parts alone (no labor) to rebuild a car would cost ten times the initial cost of the car.
How can housing be overpriced if the current stock can be purchased for less than the cost to build it? Weird times…..
If housing drops, all the construction workers go back to getting paid five dollars an hour under the table to the make the cost affordable for replacement housing and expansion of housing to meet the population’s needs?
Wish I could have waited on the roof. I know I overpaid a bit on it, but I had about 7 layers of asphalt over the original cedar shingles (I kid you not). Also, due to the fact that it’s a tudor and there are all kinds of curves and chimneys and angles (etc.) there was a lot of flashing to do. Roof looks perfect! Gutters are going on now as I speak. I negotiated a special discount as well if you know what I mean. It also included a separate 2-car garage which I was quoted $3,500 to do on it’s own. When it’s all said and done, I paid $13K which I think is reasonable. Warranted for 30 years (top level GAF Shingles) both by GAF and the installer. Roofer says the quality has gotten so high on the shingles that he expects them to last 40 to 50 years and he wasn’t sh1tting me.
Nice pickup 30. Congrats. What did you do for an LLC name, throw a box of Scrabble tiles on the floor?
Weirdly, I know the defendant. Used to be a local agent, and I bought her primary residence from her over a decade ago. Bummer.
Have you guys noticed that crazy ugly and dense multi-unit residential development off the west side of the GSP right around mile 147 in Bloomfield? Holy cheap looking, probably flood zone, terrible view and location unless you want to play shadow traffic reporter. Who is moving into these places? How will these places impact stand-alone home values?
Oils dropping pretty hard right now! This is good. Didn’t like paying $2.25 a gallon yesterday.
“What did you do for an LLC name, throw a box of Scrabble tiles on the floor?”
Well at least it keeps you from performing that archaic search at the county courthouse to make sure no one else used the same name. I was going to call mine Third Nipple LLC, but then I realized it would look really funny on the rent checks. Went with the street address instead. Much easier to remember.
“What did you do for an LLC name, throw a box of Scrabble tiles on the floor?”
Well at least it keeps you from performing that archaic search at the county courthouse to make sure no one else used the same name. I was going to call mine Third N1pple LLC, but then I realized it would look really funny on the rent checks. Went with the street address instead. Much easier to remember.
Too much emphasis on that and insurance in general. The problem is the rent (cost of HC) is too damn high. That’s it.
D-FENS says:
May 4, 2017 at 10:45 am
Most people don’t have insurance because they can’t afford to buy it…not because they have a pre-existing condition. Too much emphasis is being placed on pre-existing conditions.
“My kid cost BCBS 2.5 million last year.”
Exactly.
The LLC names are always changing. I refer to them as alphabet soup.
To build decent quality in North Jersey taking into account site prep requirements from the town, around $100 a square foot to build.
Ex Pat 1300/month if you have to buy it on the open market.359.00 with coverage at work. This data is 4 years old. Cable Tv 100.00 per month, cell phone 100.00 per month, car lease 250.00 per month. Bottom line is that cost of necessities keep increasing and cost of luxuries are decreasing. Cutting your cell phone bill in half is not going to make you be able to afford health insurance.
SEE: 2013 Employer Health Benefits Survey. For 2012, the previous report, annual premiums for employer-sponsored family health coverage reached $15,745, up 4 percent from 2010, with workers on average paying $4,316 toward the cost of their coverage.
Health Insurance: Premiums and Increases
http://www.ncsl.org/research/health/health-insurance-premiums.aspx
Good post Phoenix
Somehow I think if you needed $1300 per month to keep your kid alive, you would find it. $1300/month to be prepared to keep your kid alive? Perhaps not a modern worry. BTW, My cell bill is $75/month, that is for 3 phones on 2 carriers. $45 for me (Sprint, no data), $30 for my wife (Sprint, no data), $30 for my 15 year old (unlimited data and text, 30 minutes voice, T-Mobile). My 15 year old won her Google Nexus at an MIT competition and my 13 year old just bought a reconditioned iPhone 5 with her own earned money, I told her she might have to wait a couple months before she gets a plan.
Stu,
Expensive.
I have seen many charts that just by a glance you can see the numbers in the millions.
Wound Vacs, Total Joints, Spinal Fusions, Tumor surgery, Triple bypass, etc all on the same person. It does not end with the surgeries-follow ups, cat/mri scans, outpatient rehab, medications, blood tests, radiology, etc.
More people out there like that than you can ever imagine. Most are older, however. Others are accident victims or just plain unlucky.
Today healthcare insurance rates are based also on lifestyle choices. Not like it was when grandpa was lighting up 2 packs of Lucky Strikes per day….
Nancy Pelosi just spoke before the HC vote. I think that should be enough to put the GOP over the top.
Ex Pat,
With the way the system is now, all it takes is one sickness, one divorce, etc to fall through the cracks.
Where I work, you get sick, you are out for an extended period of time, they let you go.
You are single parent. You are beyond screwed..
Is there a mechanism in TrumbamaCare to fund the 8 billion plus for the high risk pools, or will it just be added to the deficit? I understand that the ObamaCare taxes are also being repealed, so the money can’t come from those.
Passed the house with 217 votes. The weird part was there was 2 Dem votes for a while and then they moved over to the other side of the ledger. Is it like the stock market where you can change your bid if your order hasn’t executed?
It will be covered by the federal government either outright or through medicaid expansion. The good news is that there will be covert hit squads to reduce the pools, operating primarily in blue states. I got your death panels…right here (best said with a Northeast accent;-)
Is there a mechanism in TrumbamaCare to fund the 8 billion plus for the high risk pools, or will it just be added to the deficit? I understand that the ObamaCare taxes are also being repealed, so the money can’t come from those.
LOL. Unemployed Game of Thrones fans have gathered near the Capitol steps yelling, “Shame! Shame! Shame! Shame! ” at lawmakers.
Who’s headed to the afterparty?
@realDonaldTrump 19m19 minutes ago
More
If victorious, Republicans will be having a big press conference at the beautiful Rose Garden of the White House immediately after vote!
Phoenix – Do you know what a doctor or wealth manager would say about that?
Answer: “Don’t do that.”
You are single parent. You are beyond screwed..
CNN Talking head: Obamacare is failing because of the attitude of the present administration. Trump says it’s failing and that scares all the insurers away. Some of the idiots who post here should get TV jobs. It certainly seems like they have all of the necessary qualifications; Make something up and say it.
Trump flying to NY tonight to meet with the Australian prime minister. He’s been away from Manhattan for 107 days, the longest period in his entire life.
Ex Pat,
Sometimes things happen that are beyond your control.
I know many good people who are/were in such a situation. Does not mean they deserve what happened to them.
Those aren’t protesters singing and yelling…they’re House Democrats! Singing nah nah nah nah hey hey hey goodbye and chanting “shame”.
What a bunch of babies.
They think people will vote them out because of this…but it’s exactly why voters elected Republicans. Dunces…
The Original NJ ExPat says:
May 4, 2017 at 2:24 pm
LOL. Unemployed Game of Thrones fans have gathered near the Capitol steps yelling, “Shame! Shame! Shame! Shame! ” at lawmakers.
“It will be covered by the federal government either outright or through medicaid expansion.”
Ok, so it’s added to the deficit. I’m no fan of Obamacare, but at least it made an attempt to pay for some of what it cost. Democrats = tax and spend. Republicans = borrow and spend.
Lance, LoBiondo, and Smith (NJ House Republicans) voted against the bill.
$10 trillion added to double the deficit under Obama, more than all previous presidents in history combined. I guess Obama is a Republican, that’s why he’s on his “F.uck you! Pay me!” tour, beginning with Cantor Fitzgerald?
Ok, so it’s added to the deficit. I’m no fan of Obamacare, but at least it made an attempt to pay for some of what it cost. Democrats = tax and spend. Republicans = borrow and spend.
What Republicans Changed in Their
Health Care Bill to Try to Get More Votes
https://www.nytimes.com/interactive/2017/05/03/us/what-republicans-changed-in-their-health-care-bill.html?_r=0
(with pictures for people like me with no attention span)
“believing that personality and social skills are optional.”
Surprisingly true, its a secondary consideration. IT is one of the last areas where talent and hard work can get you ahead. I have worked with a lot of good people who never went to college. I have worked with some really difficult people that where kept around because the delivered top quality work.
Wow…so the repeal of Obamacare pretty much amounts to little more than window dressing. Phew. Shouldn’t be long before both are repealed and replaced with single-payer. Didn’t think it would have worked this way, but if Obamacare was failing. Then I’m not sure how this isn’t doomed to fail as well. These changes reek of Trump Steaks. They are no better than any other steaks you can buy, but they’ll cost more to carry the Trump name.
Where the fcuk do you fall on that continuum oh diminutive one?
Fabius Maximus says:
May 4, 2017 at 3:26 pm
“believing that personality and social skills are optional.”
Surprisingly true, its a secondary consideration. IT is one of the last areas where talent and hard work can get you ahead. I have worked with a lot of good people who never went to college. I have worked with some really difficult people that where kept around because the delivered top quality work.
“Those who still have trouble affording health care will receive refundable tax credits according to their need to help them purchase insurance.”
What happens to those that don’t earn enough to offset the credit?
And yes Stu, your kid is hosed, if not through a layoff, but when he goes to get his own when he gets a job.
Now you can REALLY keep your doctor?
Steam;
“costs twice as much to repair”
That’s the deal the OEM cuts with their parts supplier. They force the supplier to sell to the OEM at a loss, so the OEM can make bank on the initial sale. Then the supplier gets exclusive on replacement parts at whatever they care to charge. Your $1200 replacement paid for it and three OEM units as well.
1300/month if you have to buy it on the open market.
Cheapest policy I saw in NJ a few years back was $800.
The main point is that a 40hr week at a minimum wage of $7.50 is $1300 Take out taxes, Rent, food clothes, add in the second / 3rd cash job. Hopefully a spouse working as well, at what point does healthcare become affordable.
Fabius,
I have friends who make less than I do and they never have enough money.
I have friends who make as much as I do and they never have enough money.
I have friends that are lawyers and doctors and they never have enough money.
I am sure that President Trump and Ex President Obama feel they never have enough money.
I was married to someone (we were in the 1% bracket) and she never had enough money, now we get to spend it on lawyers.
No one in this country ever feels like they have enough money, even if it is flowing out of all of their orifices…..
No one in this country ever feels like they have enough money, even if it is flowing out of all of their
orifices/del> holsters…..Nuts
No one in this country ever feels like they have enough money, even if it is flowing out of all of their
orificesholsters…..Awwk! Ignazio is a c0ck holster, Ignazio is a c0ck holster!
Awwk! Ignazio is a c0ck holster, Ignazio is a c0ck holster!
Awwk! Ignazio is a c0ck holster, Ignazio is a c0ck holster!
https://heatst.com/world/man-killed-neighbor-who-taught-parrot-to-insult-him/
Morning Joe Momma
http://pagesix.com/2017/05/04/joe-scarborough-and-mika-brzezinski-are-engaged/
Phoenix,
There is a difference between feeling that you don’t have enough money and actually not having enough money.
Isn’t that what Medicaid is for? How does fining them for not buying health insurance help them?
Fabius Maximus says:
May 4, 2017 at 4:29 pm
1300/month if you have to buy it on the open market.
Cheapest policy I saw in NJ a few years back was $800.
The main point is that a 40hr week at a minimum wage of $7.50 is $1300 Take out taxes, Rent, food clothes, add in the second / 3rd cash job. Hopefully a spouse working as well, at what point does healthcare become affordable.
NJ congressman central to the deal brokered between conservatives and moderates.
http://www.msnbc.com/rachel-maddow-show/new-jersey-republican-rescues-his-party-health-care-crusade
More Americans are at work right now than at any other time in our country’s history.
The more I read into this healthcare bill, the more I am disgusted by it. And I was the first to admit that Ocare was a transfer to the wealthy as well. Partisan politics is going to absolutely destroy our country. The R’s are once again placating the rich. But this time, rather than transferring just the wealth upwards, they are actually destroying families in the process. I was a Trump sympathizer up to this point and really wanted to give his policies a chance. But it is becoming more and more apparent that his goal is only to enrich his class (and don’t kid yourself Otto and Moana, the Clinton’s are in this group as well). If this bill passes anywhere near the current shape it’s in, it will put the stupid D’s back in power for a very long time with their policies of placating the lower classes on the backs of the middle class. Neither party dare fukcs with the upper class. And the longer this goes on, the more difficult it will be to correct without a bonafide coup. The D’s have shown their true colors and the R’s have forgotten about the need to spread out the crumbs. Fleeing to Costa Rica is becoming more and more attractive. This country is truly F’ed.
30 year, opposite situation going on with the Toll condo projects in Hudson County. Recent sales at the biggest one, Hudson Tea, are in the $800 to $900 per square foot range. And big premiums to previous sales prices. Sellers walking away with big tax free gains to fund house buys in train suburbs.
Read the paper cited in this blog post. The Republicans aren’t going to lose anything. This is what Trump’s base wants.
http://marginalrevolution.com/marginalrevolution/2017/05/much-people-value-health-insurance-anyway.html
“The somewhat depressing and underexplored implication is that the beneficiaries do not love Obamacare as much as some of you do. In fact you may remember a result from last year, from the research of Mark Pauly, indicating that “close to half” of households covered by the unsubsidized mandate, by the standards of their own preferences, would prefer not to purchase health insurance. And that was before some of the recent rounds of premium increases, and overall these new results seem to imply even lower demands for health insurance relative to cash.”
Steamy Cankles Foundation says:
May 5, 2017 at 10:28 am
The more I read into this healthcare bill, the more I am disgusted by it. And I was the first to admit that Ocare was a transfer to the wealthy as well. Partisan politics is going to absolutely destroy our country. The R’s are once again placating the rich. But this time, rather than transferring just the wealth upwards, they are actually destroying families in the process. I was a Trump sympathizer up to this point and really wanted to give his policies a chance. But it is becoming more and more apparent that his goal is only to enrich his class (and don’t kid yourself Otto and Moana, the Clinton’s are in this group as well). If this bill passes anywhere near the current shape it’s in, it will put the stupid D’s back in power for a very long time with their policies of placating the lower classes on the backs of the middle class. Neither party dare fukcs with the upper class. And the longer this goes on, the more difficult it will be to correct without a bonafide coup. The D’s have shown their true colors and the R’s have forgotten about the need to spread out the crumbs. Fleeing to Costa Rica is becoming more and more attractive. This country is truly F’ed.
If this is what Trump’s base really wants, then they are the dumb deplorable rednecks that SHE called them.
The truth is, the poor don’t need insurance. They can go to any emergency room and get the necessary care for free. This is what is lacking from the article you cited.
I just looked back and saw this was the basis of the first comment. The difference between Ocare and Tcare is who is paying for it. Ocare was paid for by the middle and upper class. Tcare is paid for by the middle class and public debt (let’s call that the lower class).
This is partisan politics 100 times worse than any Obamaphone.
Forcing individuals to buy insurance…forcing businesses to buy it for their employees based on the number of employees or the hours they worked…
These were the provisions of Obamacare that were a boat anchor on the economy.
Sorry to post, but I had to. I’m not going to annoy the blog members by posting regularly again (put this blog through too much, and feel bad about it).
Just wanted to point out that if the one thing Pumps was right about on this blog, it’s the coming disaster with income inequality. When will it all come crashing down, I don’t know, but if this income inequality persists, it will result in this empire falling to income inequality just like all the other empires in history. History indeed repeats itself over and over again.
This is what happens when 70% of the country does not have a college degree, they are uneducated on the principle failures of past societies. They don’t understand how bad income inequality is because they never learned about case studies in past failures with income inequality. And trying to point this out to the legions of uneducated is a waste of time, they are unable to grasp it……no one seems to get it, even the one’s with a college degree in science…..they never learned about the history of human society, they only focused their studies on science. Hence, why a liberal arts education is important for society, it’s not just about going to college to gain skills for a future job, it’s also about getting the skills to maintain a fair and just society. The people that trash a liberal arts education clearly don’t understand this or just choose not to out of ignorance. Obviously, people like trump never learned a damn thing in college, just cheated his way through.
Don’t worry, I won’t be posting regularly, so you don’t have to chime in why is the pumpkin posting again.
Steamy Cankles Foundation says:
May 5, 2017 at 10:28 am
The more I read into this healthcare bill, the more I am disgusted by it. And I was the first to admit that Ocare was a transfer to the wealthy as well. Partisan politics is going to absolutely destroy our country. The R’s are once again placating the rich. But this time, rather than transferring just the wealth upwards, they are actually destroying families in the process. I was a Trump sympathizer up to this point and really wanted to give his policies a chance. But it is becoming more and more apparent that his goal is only to enrich his class (and don’t kid yourself Otto and Moana, the Clinton’s are in this group as well). If this bill passes anywhere near the current shape it’s in, it will put the stupid D’s back in power for a very long time with their policies of placating the lower classes on the backs of the middle class. Neither party dare fukcs with the upper class. And the longer this goes on, the more difficult it will be to correct without a bonafide coup. The D’s have shown their true colors and the R’s have forgotten about the need to spread out the crumbs. Fleeing to Costa Rica is becoming more and more attractive. This country is truly F’ed.
“Tcare is paid for by the middle class and public debt (let’s call that the lower class).”
Public debt = middle class. It’s taxes, and you can only tax earnings and assets of people who actually have both.
Re: the $8B and where it comes from who cares. It’s a drop in the bucket. If that’s what it takes to isolate the seriously problematic cases so that insurance is more available and cheaper for the fat part of the bell curve why wouldn’t you do it?
I emailed BC Bob, told him that he and past blog posters are sorely missed! He’s doing well and told me to say hi to all here who remember him. I begged him to post just once more to get a dose of the past! :)
“Re: the $8B and where it comes from who cares. It’s a drop in the bucket. If that’s what it takes to isolate the seriously problematic cases so that insurance is more available and cheaper for the fat part of the bell curve why wouldn’t you do it?”
Who says it’s 8 billion? If you do some back of the envelope math using my son’s 2.5 million paid bill last year, that number is a hugely short. Of course, by voting on this before waiting for the CBO evaluation, you are admitting that this was a partisan act and you really don’t care about its affect.
And don’t kid yourself that public debt = middle class. If R’s stay in power, the first things that will be cut to reduce the debt will be social services that the lower classes received from the D’s.
Thank you Michael (pumps)…for showing up to look down your nose and insult the intelligence half of the United States. I’m not quite sure you’re qualified for that task…
I know it’s getting cliche but “this is why Trump won”
I think it’s actually $100 billion over ten years for the high risk pools. And it sets aside an additional $15 billion into that fund to ensure consumers would have access to maternity care, mental health care and substance abuse treatment
Fast be Bob and clot. Glory days of the blog!!
Yes, 3b. I looked at the archives of this blog yesterday and their were regularly 200 plus posts per day of substantial dialog. Even the sarcasm was dripping with wit.
Fabius,
Yeah, that was the point…..
There is a difference between feeling that you don’t have enough money and actually not having enough money.
Stu can suck it…..
BEDMINSTER – At least on this one morning, we all have something in common with the President. We all woke up, looked out the window and breathed in the glorious New Jersey air. Trump is at his golf club in Bedminster, arriving last night after hanging with Australian Prime Minister Malcolm Turnbull at the Intrepid. Get this: Total travel time for the President to loudly chopper from Manhattan to Bedminster. Ready? Seven minutes. We spend more time just trying to buy the Metrocard. Once again, it’s good to be the king.
D-Fens,
Late 70’s everyone who worked in a supermarket received benefits. Benefits were a staple of going to work. Ok, a paperboy did not, but almost every other job provided benefits. Don’t remember it being any more of a boat anchor on the economy back then than it is now.
Work in a factory – HS diploma, pension, benefits, gold watch, retirement party.
Times are very different now.
Forcing individuals to buy insurance…forcing businesses to buy it for their employees based on the number of employees or the hours they worked…
These were the provisions of Obamacare that were a boat anchor on the economy.
Consumer staples in a heavily unionized business? That’s not exactly a good example.
bro, you sound like a cuck
Fast Eddie says:
May 5, 2017 at 11:32 am
I emailed BC Bob, told him that he and past blog posters are sorely missed! He’s doing well and told me to say hi to all here who remember him. I begged him to post just once more to get a dose of the past! :)
Any way you slice it, healthcare is expensive. Doc education, Docs practicing defensive medicine, malpractice insurance, central diagnostic instrumentation, radiology, multi-million dollar surgical theatres, Pharma, PBMs, cost of health insurance…
Want to drive down costs, make providers, all of them post their prices and let the customer shop. Castlight health tried to do this with some success. You want procedure X, usual and customary is $1200. Find it for less, you get 25% of the savings. Your provider wants $1800, no problem, insurance pays $1200 and the rest is on your dime. Right now, try to find out how much something costs other than a basic physical its a black hole.
Ever see an administration square off with big Pharma and win? Neither have I.
Right now people are starving in Venezuela directly due to the government nationalizing food, setting price controls, and demonizing the businesses that produce the goods. The government convinces the people that if only they had even more power and control over people, things would improve.
This is basically the same sort of things the US government has been doing to the medical industry for the past 30+ years, but in slower motion. Government intervention, worsening of the system, blame the shrinking element of free markets, more intervention, more worsening. And most people are blind to the true causes and consequences
Nomad,
Agreed. Why is it so much easier to shop for groceries and electronic gadgets than health care? Hint- guess which industries are more regulated and govt-run.
Here’s a great essay produced in 1985 that predicted how the medical profession would continue to decline in the years ahead. The predictions he made in 1985 continue coming true.
https://ari.aynrand.org/issues/government-and-business/health-care/Medicine-The-Death-of-a-Profession#filter-bar
“Who is benefiting from the destruction of the doctors? It is not the poor, A generation ago, the poor in this country received excellent care through private charity, comparatively much better care than they are going to get now under the DRG and HMO approaches. The beneficiary is not the poor, but only one subgroup among them: those who do not want to admit that they are charity cases, those who want to pretend that they are entitled to medical handouts as a matter of right. In other words, the beneficiary is the dishonest poor, who want righteously to collect the unearned and consider it an affront even to have to say “Thank you.” There is a second beneficiary: the new 9-to-5, civil-servant doctor, the kind who once existed only on the fringes of medicine, but who now basks in the limelight of being a physician and healer, because his betters are being frozen out. And there is one more kind of beneficiary: the medical bureaucrats, lobbyists, legislators, and the malpractice lawyers — in short, all the force-wielders now slithering out of their holes, gorging themselves on unearned jobs, money, fame, and/or power, by virtue of having sunk their fangs into the body of the medical profession. “
No One – 50% of the Venezuela’s GDP and roughly 95% of total exports is Oil. The last decade of plunging oil prices would have still hobbled Venezuela under any circumstances so*ci*alist or not.
“When discussing the merits of capitalism and social!sm, American media usually restricts the conversation to pointing out that social!st countries in the third world have lower living standards than the United States, a country widely identified with capitalism. Without any context or fair comparison, this alone is supposed to prove the inherent superiority of U.S.-style capitalism.
If the kind of neoliberal “free trade” advocated by U.S. corporations was the solution to global poverty, Mexico, a country long ago penetrated with the North American Free Trade Agreement, would be a shining example of development, not a mess of drug cartels and poverty. The same can be said for oil-rich countries like Nigeria, where exports are massive but the population remains in dire conditions.
The governments of Bangladesh, Honduras, Guatemala, Indonesia, and the Philippines have done everything they can to deregulate the market and accommodate Western ”investment.” Despite the promises of neoliberal theoreticians, their populations have not seen their lives substantially improve.
If one compares the more market-oriented economy of the U.S., not to countries in the global south attempting to develop with a planned economy, but to other Western countries with more social-democratic governments, the inferiority of the “free market” can also be revealed.
The U.S. is rated 43 in the world in terms of life expectancy, according to the CIA World Factbook. People live longer in Germany, Britain, Spain, France, Sweden, Australia, Italy, Iceland — basically, almost every other Western country. Statistics on the rate of infant mortality say approximately the same thing. National health care services along with greater job security and economic protections render much healthier populations.
Even as the social-democratic welfare states of Europe drift closer to the U.S. economic model with “austerity cuts,” the U.S. still lags behind them in terms of basic societal health. Western European countries with powerful unions, strong social!st and labor parties, and less punitive criminal justice systems tend to have healthier societies.
The American perception that social!sm or government intervention automatically create poverty, while a laissez faire approach unleashes limitless prosperity, is simply incorrect. Despite the current hardships, this reality is reflected in the last two decades of Venezuela’s history.”
http://www.mintpressnews.com/us-led-economic-war-not-social!sm-tearing-venezuela-apart/218335/
Venezuelan immigrants in the United States will be like the Cubans. Fiercely right of center politically.
I predict they will be a strong force in the political landscape in Florida in the future.
Happy Cinco De Mayo
https://twitter.com/AmericanMex067/status/860487058980196353
Pumps,
The article you listed talks about getting rid of Medicare. Good luck with that. Senior citizen will never let that happen.
It also talks about how the hospitals increase their prices to compensate for how little they get reimbursed by Medicare patients. If Medicare disappeared tomorrow housing prices would drop when older people had to sell their houses to actually pay for their medical care as opposed to having somebody else pay for it
Most of the white collar workforce of Venezuela left as soon as Chavez took over, and business owners sold valuable operations at a fraction of pre-Chavez values ……Weston, FL is commonly referred as Westonzuela……
D-FENS says:
May 5, 2017 at 3:03 pm
Venezuelan immigrants in the United States will be like the Cubans. Fiercely right of center politically.
I predict they will be a strong force in the political landscape in Florida in the future.
Raise Rates? Why bother they will just stop buying bonds! THE PPT team at Fed in NY was supposed to purchase 100 of billions of TSY to replace matured TSYs every year. $194 billion comes due in 2017, about $373 billion in 2018 and $329 billion in 2019 for a grand total of $1.1 trillion over the next four years……
“The central bank plans to start to shrink the balance sheet by not reinvesting proceeds of maturing securities in its portfolio. Shrinking the Fed’s balance sheet can have a similar effect to tightening interest rates because it eliminates a big buyer of government bonds, which should push yields higher in theory.”
http://www.marketwatch.com/story/fed-officials-say-balance-sheet-could-be-cut-in-half-to-2-trillion-2017-05-05
When one recognizes from first-hand experience that something positioned as a fact is totally untrue, the argument falls apart. As someone who has done global investing for 25 years, the claim that Indonesia and the Philippines (or the others) have been deregulated or are free market havens is just laughable.
The statement below is very simply a lie. I’m not surprised it’s copied/pasted by our local fool, however.
“The governments of Bangladesh, Honduras, Guatemala, Indonesia, and the Philippines have done everything they can to deregulate the market and accommodate Western ”investment.””
The following paragraph is what get the Randians in trouble with their delusions.
“The beneficiary is not the poor, but only one subgroup among them: those who do not want to admit that they are charity cases, those who want to pretend that they are entitled to medical handouts as a matter of right. In other words, the beneficiary is the dishonest poor, who want righteously to collect the unearned and consider it an affront even to have to say “Thank you.”
You want the poor to be supplicants. You want them kow towing, begging for mercy, accepting their state, dislodging any hope without humiliation. As you a randian, from your high perch, stroke your ego and so called superhuman ideology.
“No one”. Have not you learned by now that “humiliation” is one of the many fathers of hatred and eventual revolution. Look back and see any revolution and you are going to see a Randian like Marie Antoinette “let them eat cake” humiliatory moment as the spark of the conflagration that followed.
I’m an humanitarian atheist. And have an interest in the interplay of morality and humanity without religion. But your Randian thinking fails here too, as it violates the foundation of all major religions of “being nice to others -aka -the golden rule”. I hate to say it this way. But your ways is the demonic way, leading to demonic results.
I will forecast that we are closer to Medicare for all today than ever before. PMBC, HMO’s, Big for-profit Hospitals. All soon to be gone.
By the way. I predict a lot of for-profit hospitals closing soon in NJ.
Juice,
Not true. It takes an extra special effort to starve people. Oil was just the last industry standing, which finally stopped propping up an already-broken economy. Chavez & friends hobbled the oil industry while virtually destroying the rest of the economy, which shrank even faster than the oil industry. Venezuela didn’t have to be this dependent on oil. But decades of demonizing, nationalizing, and controlling businesses had that effect.
To whom it may concern,
Sorry to hear that you think saying please and thank you is humiliating. Armed robbery and forced labor is so much more humane than voluntary commerce and charitable acts among free people, right?
I let the Guillotine or M-16 and bloodshed that will follow decide the results. As history has shown before.
https://youtu.be/5ydzXBShnEo
“It’s going to be fantastic health care,” Trump said of the American Health Care Act during a press conference in New York on Thursday night with Australian Prime Minister Malcolm Turnbull. “I shouldn’t say this to our great gentleman and my friend from Australia because you have better health care than we do.”
Australia has universal health care, where the government pays for all citizens to have access to doctors and public hospitals for free
Sen. Bernie Sanders immediately pounced. “Thank you Mr. Trump for admitting that universal health care is the better way to go,” Sanders tweeted late Thursday. “I’ll be sure to quote you on the floor of the Senate.”
http://www.marketwatch.com/story/say-what-trump-praises-australias-universal-health-care-2017-05-04
Orange County CA low income is now $84,000.00
One San Francisco-based Twitter employee who earns $160,000 a year told the Guardian he can barely make ends meet; some Facebook engineers — earning between $100,000 and $700,000 a year — had to ask Mark Zuckerberg for help with their sky-high rent; and one Apple employee said he lived in a garage and used a bucket as a toilet.
http://www.nbcnews.com/business/real-estate/silicon-valley-teardown-just-sold-2-6-million-n754916
“1300/month if you have to buy it on the open market.
Cheapest policy I saw in NJ a few years back was $800.
The main point is that a 40hr week at a minimum wage of $7.50 is $1300 Take out taxes, Rent, food clothes, add in the second / 3rd cash job. Hopefully a spouse working as well, at what point does healthcare become affordable.”
This guys hardly make it on $84,000 and above
Once again, you lie. Your father is a criminal and you had a lousy upbringing so you just don’t fit in with _______(take your pick, there are about 20 correct choices) people in any sort of social setting, including online. Your Dad doesn’t post here and nobody here is going to stand in for him and tell you that you are good at something. In fact, the more you beg, the more you will get absolutely the opposite of what the injured little boy inside of you craves. OTOH, you only know pain, so this is where you keep coming back to get that comfortable and constant punishment like when you were little.
The Great Pumpkin says:
May 5, 2017 at 11:11 am
Sorry to post, but I had to.
OMG. Pumpking is probably bonding to me like I’m his Daddy.
Hahahahahaha
Yome,
I looked at that article yesterday and thought “what happened to satellite offices?”
Hello. And Bye.
Same for wages, pensions and working conditions. Right wing public relations have twisted public opinion against unionized workers and made us feel collective guilt that we are overpaid and lazy compared to the workers in developing economics. Globalization has been made to seem like a universal Newtonian law, when it was a result of a political decision.
I remember the Seattle protests against the codification of modern globalization, back in the 90’s. Anti globalization activists warned of the hit workers would take and corporate media painted them as anarchists who were like the Luddites of the 20th century. Well, turns out they were right. We traded a middle class lifestyle for 1$ toothbrushes made in Asian sweat shops.
Problem is that the quality of this stuff is crap. Back when Levi’s were US made, they lasted forever, compare that to what they are today. An Ampeg SVT bass amp was US made and you still find plenty of them from the 70’s being used daily. The Chinese ones are badly made with crap pot metal and bad wiring. They are horribly expensive and are nothing like the US made one.
Thinking about this healthcare law. Why do the richest in our society “need financial help/assistance” from the govt? The govt is representative of nothing more than us the people, so why exactly do they need financial help from everyone that has less money than them? A tax cut is plain and simple financial assistance for the richest people in our society. So you are taking from the less off and giving it to the people that already have it all. Makes no sense.
Yep those high California housing prices are just great. We should hope we get them here in north Jersey. High housing prices and high taxes are not healthy.
3b, California’s high housing prices reflect, more than any other factor, the ability of the state’s residents to afford the prices. Income and capital gains taxes are high on the state’s super rich 1%, but property taxes are low, below the US average and 1/3 the level of NJ (based on % of property value).
If anyone’s never watched it before, the Berkshire-Hathaway annual meeting is being streamed live on Yahoo finance. I watched it last year (the first time it was streamed); it is pretty amazing. Woodstock for capitalists.
Warren Buffet: Why do you charge your clients 2 and 20?
Hedge Fund Manager: Because I can’t get 3 and 30.
In a roundabout way Charlie Munger says that Pumpking will always be a loser.
Getting wiser is a combination of humility and diligent curiosity. Without the first, the second is useless-
Charlie Munger
I WAS RIGHT! HE DOES PLAY MOMMY MAY I WITH IS OLD WIFE!!!
http://www.reuters.com/article/us-france-election-macron-leaks-idUSKBN1812AZ?il=0
Yo you missed my point. If people with those types of incomes can’t afford the prices and are complaining than that indicates to me something is wrong. Afford is a very loose definition. You might be making the payment every month but that’s all you are doing.
“Afford is a very loose definition”. No truer words ever spoken.
There are those who are broke/moderate means and yet spend recklessly, then you have the miserly multi-millionaire who falls off the roof trying to save 100.00 on a chimney cap…
I have a question for njre experts – in 5 years will Journal Square condos be selling for higher valuations, on a square foot basis, than houses in elite suburbs like Short Hills and Alpine?