Fitch – NJ is overpriced

From Fitch:

Homes Prices Remain Overvalued in 88% of the U.S.

Fitch Ratings-New York-20 December 2023: Fitch Ratings estimates that national home prices were 9.4% overvalued for 2Q2023 on a population-weighted average basis and expects overvaluation to remain elevated due to the continued rise in home prices in Q3. 

The increase in Fitch’s overvaluation estimate was driven primarily by the accelerated home prices, as the uptick in overvaluation occurred in more than two-thirds of the metropolitan statistical areas (MSAs) where home prices rose in 2Q2023. Meanwhile, other factors remained comparatively stable, leading to a more moderate increase in the sustainable home price index. 

Overvaluation still dominated nationwide. As of 2Q2023, home prices in 88% of the country’s MSAs were overvalued, with 55% of these areas by 10% or more. The top three overvalued MSAs in the U.S. are Charleston-North Charleston, SC; El Paso, TX; and Camden, NJ.

Fitch attributes the decline in existing home sales to affordability challenges for home buyers due to a persistently high mortgage rate environment and the sustained pressure of elevated home prices. Additionally, a stagnant supply contributes to both rising prices and lower sales volume, further impacting home sales.

This entry was posted in Demographics, Economics, National Real Estate, New Jersey Real Estate. Bookmark the permalink.

90 Responses to Fitch – NJ is overpriced

  1. grim says:

    Camden MSA is Burlington, Camden, and Gloucester counties.

  2. Fast Eddie says:

    Southwest NJ might as well be another state and once you cross the Driscoll Bridge travelling north, it becomes a different world. We’re not overpriced, we’re just becoming accustomed to the new normal. Once the initial pain subsides, we acquiesce, pretty much like the shock of inflation. The masses eventually settle for the decline in the quality of life and accept the alternative.

  3. Fast Eddie says:

    The United Federation of Teachers is suing New York City over budget cuts that may force schools to cut programs and staffing, arguing it’s against the law.

    Sure. Get in line, you have a few more city services ahead of you. This, on top of the muppet masses leaving the city is the product of yet another failed progressive idea. Too many gorging themselves at the trough is a recipe for disaster. But hey, at least the city has the sanctuary status to put on the mantle.

  4. grim says:

    Thank you for the donation Margie! Sorry about the delay, I didn’t notice it hitting the PP. Happy Holidays!

  5. grim says:

    From the Philly Inquirer:

    Selling your New Jersey home? Soon you’ll have to disclose flood and water damage

    Up to five inches of rain fell overnight Sunday into Monday in parts of South Jersey — and if any basements were damaged by flooding, owners could soon have to report it if they sell their home.

    A new law goes into effect early next year requiring home sellers to note whether the property has had flood damage. Starting in March, sellers will have to fill out an updated disclosure form that asks whether a property owner has ever filed a claim for flood damage with any insurance provider, if the property has ever had “flood damage, water seepage, or pooled water due to a natural flood event, such as heavy rainfall, costal storm surge, tidal inundation, or river overflow” and if, so, how many times.

    The existing disclosure form already asks if a home has sump pumps, water leakage, a damp basement or crawl space, or mold.

    Landlords will also be required to fill out a separate form to notify tenants that also asks about flooding in parking lots.

    The law and forms are part of legislation Gov. Phil Murphy signed into law aimed at addressing increasing flood risks under climate change.

  6. 3b says:

    Office buildings prices in big cities dropped 26 percent from last year, prices also dropped suburban office prices as well and apartments.

  7. 3b says:

    Fast: You might have missed it yesterday, but Paramus approved construction of 520 new apartments on land next to Paramus Park mall; it will include part of the Macys parking lot.

  8. 1987 Condo says:

    PCE: Down .1 month over month

    Up 2.6 Year over year

    Core PCE: +.1 month

    core PCE: 3.2 year over year

  9. Libturd says:

    PCE looks great.

    Goldilocks is happy.

  10. Very Stable Genius says:

    BREAKING NEWS!:

    November PCE inflation, the Fed’s preferred inflation measure, falls to 2.6%, below expectations of 2.8%.

    Core PCE inflation falls to 3.2%, below expectations of 3.3%.

    This is the lowest PCE inflation number since May 2021.

    Another welcomed sign by the Fed.

  11. Fast Eddie Muppet says:

    3b,

    Thank goodness! We need more water runoff and traffic. Everyone must eat and it’s all for the children. That’s the only two things I really know.

  12. Very Stable Genius says:

    Cycle peak was 7% in June 2022.

  13. Juice Box says:

    3b – Did you say mall?

    Every mall is being converted to mixed use. There were a few articles in the last few years about it. The massive mega mall in California by Huntington Beach near friends of mine.

    3,000 new units.

    Look how crowded this area already is, makes Paramus seem like the countryside.

    https://www.google.com/maps/place/Westminster+Mall/@33.7475786,-118.0158892,16.5z/data=!4m6!3m5!1s0x80dd2605cd734355:0x3a2ec1d3f61b97!8m2!3d33.747259!4d-118.0123144!16s%2Fm%2F080pww_?entry=ttu

  14. Juice Box says:

    Our mall down here Monmouth owned by Kirschner hasn’t broken ground yet. It’s a ghost mall about 1/2 empty now, they are going to tear much of it down and add in 1,000-unit apartment complex. Get this 1-2 bedrooms only. Luxury too and just minutes from the beach and a quick ride up the parkway to work…Just don’t have more than one kid..

  15. Juice Box says:

    and just up the street from the dispensary too. What more do you need to live? Shops, beach and pot?

  16. 3b says:

    Juice: It’s all good! Paramus will be the center of the city of Bergen Co. 520 more apartments, plus the 600 for Garden State/ Westfield, and a few others in Paramus that have been approved.

    PCE is down, credit card debt 1 trillion, huge budget deficits, stock market roaring, and rate cuts as early as March, it’s Nirvana! All is well!

  17. 3b says:

    Juice: Don’t worry about children, young people are not having them anymore.

  18. 3b says:

    A week after officially announcing its exit from the municipal bond business, Citi is also exiting the distressed debt business.

  19. Phoenix says:

    Florida real estate is expensive now. I guess she wasn’t happy with the salary of a Florida sheriffs captain’s salary.

    Bad boy bad boy, what you gonna do, lawyer up real fast when they come for you..

    Erin Foley and her twin brother Ted Albin are accused of using their health care company to bill the government for fraudulently ordered wheelchairs and canes
    Albin and Foley, who is the wife of a Florida sheriff’s captain, were arrested by federal authorities Tuesday and charged in connection to the scheme
    Foley and Albin are accused of billing $25million worth of equipment, causing government agencies and private insurers to pay out $9 million

  20. Juice Box says:

    3B – re: Citi- Chief Risk Officer looks like a bond villain.

    https://www.citigroup.com/global/about-us/leadership/zdenek-turek

  21. Phoenix says:

    Another well done program by Frontline:

    https://www.youtube.com/watch?v=6-vzy4tYfaI

  22. Hughesrep says:

    Juice

    Once they redevelop the golf course and the track Rt 36 towards the beach will be a disaster.

    It’s bad enough now when it drops from 4 lanes to 2 in a quarter mile stretch just after the mall.

    I have a customer down by the track. It’s easier to get there via back roads than deal with the cluster that is 35 / 36.

  23. 3b says:

    Juice: Yeah, he has that look.

  24. OC1 says:

    “Thank goodness! We need more water runoff and traffic.”

    Eddie if u want cheaper housing, you’ve got to have more housing!

  25. The Great Pumpkin says:

    You are one of those… bring the quality of life down so that you can have affordable housing. Make the area unlivable so prices come down…and then get this…no one wants to live there. Nice job!

    You prob support that ridiculous affordable housing law too, right?

    OC1 says:
    December 22, 2023 at 10:11 am
    “Thank goodness! We need more water runoff and traffic.”

    Eddie if u want cheaper housing, you’ve got to have more housing!

  26. Phoenix says:

    Don’t worry. Nj wil just ask for some government funding, fix that area and make it perfect. Just give them a hundred years or so.

    Hughesrep says:
    December 22, 2023 at 10:02 am
    Juice

    Once they redevelop the golf course and the track Rt 36 towards the beach will be a disaster.

    It’s bad enough now when it drops from 4 lanes to 2 in a quarter mile stretch just after the mall.

    I have a customer down by the track. It’s easier to get there via back roads than deal with the cluster that is 35 / 36.

  27. Libturd says:

    Speaking of traffic, driving home from Newark after the Devils blew it again against Edmonton, everything is great until I get to the Parkway, which I take all the way from 148 to exit 150 or 151. So three miles at best. Though there are million dollar digital overhead signs on 280 that say such brilliant things as “Only Rudolph should Drive Lit,” there is no warning that they are reducing the traffic on the Parkway down to one lane. So those two miles took us 22 unnecessary minutes at 10:30pm at night on a Thursday. With warning, I could have stayed on 280 and cut through East Orange or exited the GSP North at Bloomfield Ave., but of course the traffic didn’t start until right after the Bloomfield Ave. exit. So honestly, one mile of traffic took us 22 minutes.

    I love NJ.

    And just like with out politicians, no one seems to care.

    And my BIL who works for the FEDs just got two extra days off for Xmas and NYD. I swear they don’t even work half the year now. But nothing to see here.

  28. Phoenix says:

    Silly Gen Z, or old fart Boomer thinking they are funny and still relevant?

    “Only Rudolph should Drive Lit,”

    Hehe.

    And every day Chinese kids take science classes while American kids cheat.

    Juice Box says:
    December 21, 2023 at 7:49 pm
    3b – Surprised by the plagiarism double speak? My son confessed this week all the kids share answers now on social media. If you go into my son’s school and look at the list on the wall about 1/3 of all students per class are honor roll students now. Statistically that should not be possible, another parent and I both looked at each other and laughed about it. It was always less than 10%….

    No worries the AI will do all the work in the future. We can all spend our days touching glass.

  29. Phoenix says:

    Hehe.
    American legal system is such a joke. Female judge giving two women 140m in damages.
    Your kid gets paralyzed by a drunk driver, you would be lucky to get 10M to support her for the rest of her life in a wheelchair.
    And the freak Giuliani, yeah, his money is in South Dakota, a place in America where it cannot be touched by an American court.

    Hehe. Love the corruption.

    Juice Box says:
    December 21, 2023 at 8:02 pm
    Wow – Giuliani’s Chapter 11 filing lists debts totaling up to 1/2 Billion.

  30. 1987 Condo says:

    Plenty of room for NJ prices to rise, still much cheaper than S.I. Zillow shows the house I grew up in for $646,000, 912 square feet. That is over $700 per sq foot.

  31. Phoenix says:

    David H. Petraeus

    Chimp face. On Fox, yeah, we need to take on the Chinese. Spend more money, build more weapons. Oh, and don’t raise taxes on the rich. Let the middle class pay for it.

    As he sucks down his government pension and free lifetime government healthcare.

    Hey buddy, go suck a u know whatttttt.

  32. Phoenix says:

    Guess you should have kept it.

    1987 Condo says:
    December 22, 2023 at 11:07 am
    Plenty of room for NJ prices to rise, still much cheaper than S.I. Zillow shows the house I grew up in for $646,000, 912 square feet. That is over $700 per sq foot.

  33. 3b says:

    1987: What are the property taxes these days in SI?

  34. 3b says:

    Phoenix: Biden is very concerned about Nippon the Japanese steel company buying US Steel, but not concerned with China.

  35. chicagofinance says:

    Also 2 Chick-Fil-A’s within 3 miles and an onsite Chipotle.

    Juice Box says:
    December 22, 2023 at 9:34 am
    and just up the street from the dispensary too. What more do you need to live? Shops, beach and pot?

  36. BRT says:

    I went to Count Basie last night to see Post Modern Jukebox. Tried to stop in Freehold to eat dinner around 5. Federici’s, Frankie Feds, holy crap. The whole town is poppin. Monmouth County is something else right now. Same goes for Livotti’s and the surrounding stores. Not like that by me. Couldn’t get in. Ended up driving to Belmar and doing Rajun Cajun.

  37. BRT says:

    Lib get used to it. We keep adding people to the state but no new roads/highways. We are essentially a city with no mass transit.

  38. Phoenix says:

    3b

    The only thing Americans have any “patriotism” towards is the American dollar.

    No ethics, no morals, a rudderless ship.

    “I know what America is. America is a thing you can move very easily”
    Bibi is right. Give an American money, they will sell their own mother.

  39. Phoenix says:

    China has a 16k electric car for sale. But the American government doesn’t allow us to buy them. They are tariffed, along with solar panels and other things many Americans would buy at the correct price( the price we can afford).

    3b says:
    December 22, 2023 at 11:23 am
    Phoenix: Biden is very concerned about Nippon the Japanese steel company buying US Steel, but not concerned with China.

  40. Fast Eddie says:

    PCE is down, credit card debt 1 trillion, huge budget deficits, stock market roaring, and rate cuts as early as March, it’s Nirvana! All is well!

    And slo joe’s approval rating is around 35% which we know is much lower. Say it ain’t so, joe! Gen-Z is p1ssed! They thought they’re loans would be paid for by now by working Boomers! And they thought O’Biden phones were going to be distributed, too! Somebody register those illegals, quick! And get the mules ready!

  41. Phoenix says:

    During the pause in student loan payments, Jessica Musselwhite was able to buy a home in Chicago.

    With the rise in home prices, it appears she has made the correct choice.

  42. TraitorJoe says:

    Chinese nationals can enter the country as they please. How many of them are spies. Joe many of the other invaders are terrorists or organized crime. We don’t know.

    What is the point of having a military, border patrol or coast guard. In Bidens Orwellian America, the only reason for any security services at all are to repress political dissent of his traitorous policies.

  43. Phoenix says:

    You Can Buy Toyota’s Tiny $13,000 Work Truck But Not In The US.

    Of course not.

    You need to buy Ford’s 100K Raptor. Or walk. Your choice.

    Free dumb.

  44. Phoenix says:

    Guess it’s either this, or having your Pu@@y grabbed while being told you cannot have an abortion.

    The two best choices America has to offer. Hehe.

    TraitorJoe says:
    December 22, 2023 at 12:21 pm
    Chinese nationals can enter the country as they please. How many of them are spies. Joe many of the other invaders are terrorists or organized crime. We don’t know.

    What is the point of having a military, border patrol or coast guard. In Bidens Orwellian America, the only reason for any security services at all are to repress political dissent of his traitorous policies.

  45. OC1 says:

    “You are one of those… bring the quality of life down so that you can have affordable housing.”

    You got yours, so f#!k everybody else, right? Don’t give a crap about the next generation. I want to see so much new housing built that selfish greedy NIMBYs like you are crying about your declining property values.

    Then we can get back to the way it was before the NIMBYs took over and housing was a place to live, and not an investment.

    “Make the area unlivable so prices come down…and then get this…no one wants to live there. Nice job!”

    Yeah- make NJ “unliveable” – like Manhattan. Nobody wants to live THERE! That’s why housing in Manhattan is so cheap!

    “You prob support that ridiculous affordable housing law too, right?”

    No I don’t! Unlike socialists like you I believe in free markets.

  46. OC1 says:

    “Chinese nationals can enter the country as they please. How many of them are spies.”

    Absolutely! I mean it’s not like they could just get a tourist visa and enter the country that way.

  47. 3b says:

    Phoenix: I think we need housing at the correct price for the younger generations, than electric cars and solar panels..

  48. Very Stable Genius says:

    Strong men pay taxes.
    Paid taxes create good times.
    Good times create weak men.
    Weak men hate taxes.
    Unpaid taxes create hard times.
    Hard times create strong men.

    By PEWilliams

  49. Phoenix says:

    Well now that we know what weak and strong men do, this is what capitalist women do.
    So the question remains, was she planning to pay tax on her inheritance?

    South Carolina mom Amy Vilardi charged with murdering four family members ‘believed she would inherit $100,000 following their deaths’
    Prior to the murders, victim Cathy Taylor Scott had transferred herself funds from her mom and fellow victim Violet Taylor’s account, court documents show
    As her mom’s sole heir, this may have led Vilardi, 40, to believe she stood to inherit $104,913.15
    But a judge ruled Scott should not have transferred the money meaning Vilardi and co-accused husband Ross Vilardi, 36, were not entitled to a dime

  50. Phoenix says:

    Boomer has guaranteed that what you think is never going to happen.
    Boomer said, Enjoy your Chex Mix.

    3b says:
    December 22, 2023 at 12:53 pm
    Phoenix: I think we need housing at the correct price for the younger generations, than electric cars and solar panels..

  51. Phoenix says:

    Smoke ’em if you got ’em.

    NJ S3582
    Legalizes growing or possessing up to six marijuana plants for personal recreational use, and up to 10 plants for personal medical use, by persons aged 21 or older.

  52. Fast Eddie says:

    Boomer said, Enjoy your Chex Mix.

    I usually sprinkle red and green coated Chex Mix on the lawn during the holidays for the youngsters. You know, the chocolate adds a smidge of fat calories for the little muppets. Who says I don’t do my part to assist humanity?

  53. The Great Pumpkin says:

    Cry me a river…

    OC1 says:
    December 22, 2023 at 12:38 pm
    “You are one of those… bring the quality of life down so that you can have affordable housing.”

    You got yours, so f#!k everybody else, right? Don’t give a crap about the next generation. I want to see so much new housing built that selfish greedy NIMBYs like you are crying about your declining property values.

  54. Phoenix says:

    Inflation:

    It is typically expressed as the annual change in prices for everyday goods and services such as food, furniture, apparel, transportation and toys.

    Everything but your house that you keep all of that other worthless shite in.

    What do you do with your f’n furniture when you are living in a homeless camp? I guess a lower price on a shopping cart with your clothes, a chair, and two boxes of Ritz crackers means, by definition, that inflation is going down.

    Hehe.

  55. Phoenix says:

    Actually, you are contributing to their future Dia beeee tus. This might get you a visit from Wilford Brimley.

    You know, the chocolate adds a smidge of fat calories for the little muppets.

  56. grim says:

    Everyone in NJ is a gardener now.

  57. Phoenix says:

    Hehe.

    What else are the moms up to now?

    Police have reportedly obtained a second sex video in their probe into rape accusations against Florida Republicans’ chairman Christian Ziegler.

    The video shows Ziegler’s wife Moms for Liberty co-founder Bridget Ziegler and an unidentified woman and was found after police searched Ziegler’s phone and email account, according to the Florida Trident.

    It would be the second video found by Sarasota police in the investigation into Ziegler, who is accused of raping a friend after she backed out of a threesome with him and his wife. Ziegler allegedly admitted to recording the encounter in October but he claims it was consensual.

  58. Phoenix says:

    Maybe the next President can get lower numbers than this one, as America continues on it’s quest to becoming a dictatorship.

    President Joe Biden ends 2023 with his polling numbers still in the doldrums — worse than any other president at the same stage of their first term — as he prepares for an election next year with voters still worrying about the state of the economy.

    That is worse than the last seven presidents in history as they came to the end of their third year in power.

    Barack Obama was at 43 percent and Donald Trump was at 45 percent as they headed into election year.

  59. LAX says:

    1:56 she’s a hot aryan woman.

  60. 3b says:

    Phoenix: Why are people worrying about the economy? It’s great! Biden’s numbers should be through the roof!

  61. 3b says:

    Fast: It’s Christmas, you could maybe show a little more kindness and Christmas cheer and spread some red and green M&M s, or maybe red and green Hershey kisses.

  62. Fabius Maximus says:

    Did Rudy Colludy file for Chapter 9-11?

    Yes I borrowed that. Can you think of a bigger fall from grace, he make Lance Armstrong look redeemable. While I never really liked him, he had reached international statesman status and he threw it all away for that orange ahole.

  63. LAX says:

    Phoenix is a mouthpiece for the oppressed.

  64. leftwing says:

    “…1,000-unit apartment complex. Get this 1-2 bedrooms only. Luxury too and just minutes from the beach and a quick ride up the parkway to work…Just don’t have more than one kid…”

    Feature, not flaw. These apartment buildings went up all around my current area. Intent is to grab the Zs and younger Millennials, young couples, married or not. Maybe they pop a kid before moving on.

    Lacking three bedrooms they are specifically built to not accommodate a larger family, for whom the marginal rent would be a deal but who would put undo stress on the amenities as well as most likely be from the ‘wrong’ demographic groups…

  65. leftwing says:

    “Citi- Chief Risk Officer looks like a bond villain.”

    I see what you did there….

  66. 1987 condo says:

    Phoenix,

    I did not own the house I grew up in, so I couldn’t keep it. Is that common?

    I left the island and it’s issues, because, at least in 1985 it was better in NJ!

  67. 3b says:

    1987: New Jersey was a great alternative to NYC in the 80s and it’s why we moved here. We were looking in Westchester at the time( made sense coming from the Bronx), Bergen co at the time was a far better value than Westchester at the time. The says of NJ at the time was far better than NY city/state. All of those positives are gone and have been for some time.

  68. 3b says:

    Left: Even one or two bedrooms people can have a kid or two, not ideal, but it’s doable. There are lots of garden apartment complexes in Bergen Co, one and two bedrooms and they have kids. They are from certain demographics for the most part as you note, but the same can occur to some degree at least in the luxury ones. It’s one reason people don’t want them in their towns and that includes the towns where people define themselves as liberals.

  69. Phoenix says:

    3b says:
    December 22, 2023 at 2:44 pm
    Fast: It’s Christmas, you could maybe show a little more kindness and Christmas cheer and spread some red and green M&M s, or maybe red and green Hershey kisses.

    https://youtu.be/XPb-ZZ6GPRE?t=1889

  70. Phoenix says:

    They are from certain demographics for the most part as you note, but the same can occur to some degree at least in the luxury ones. It’s one reason people don’t want them in their towns.

    This follows the children into their later years. I know many young women that are so wonderful yet think they are less valuable than “white women.” Some end up with a chip on their shoulder, or ruined future relationships because of it.
    White women just become nasty entitled Karens- of course, not all, but many.

    Of course, like any other groups, there are outliers and exceptions to all. It’s why no matter what the race, religion, or country you always have to look at the individual instead of the race, religion, etc. No two people are alike.

  71. Phoenix says:

    1987 condo says:
    December 22, 2023 at 3:38 pm

    Yeah, can’t keep what you don’t own. Is it common, was then, more now, and even more tomorrow.

  72. Phoenix says:

    No hope for humans:

    The Department of Child Protection and Permanency (DCP&P) was contacted by a youth partial care program with concerns about two children living with Irene Becica, 71, Thomas Becica, 57, and Christina VonColln, 45, on Oct. 24, 2023, according to the criminal complaint obtained by Daily Voice.

    The two children were later identified as girls, and only referred to by their initials NV and MV, in the court documents.

    On Oct. 27, a burn on NV’s right wrist was found. The child said that VonColln and Irene Becica had burned her with a lighter, according to the affidavit of probable cause.

    Both girls were removed from the home on Goshen Road in Middle Township, police explained in the affidavit. Three other girls had previously been removed from the home and were being held in the Cape May County Correctional Center, as noted in the affidavit.

    The five girls approximate ages are 16, 12, 11, 10, and 9, according to court documents. Their relationship with the adults was not immediately clear.

    All of the girls told investigators that all three adults beat them with backscratchers, belts, flyswatters, and paddles. They all were left with bruises and cuts covering their bodies, as detailed in the court documents.

  73. leftwing says:

    Lib, ALKS up 15% since I bought it a few weeks ago.

    Not sure if you hopped in but FYI.

    Interesting trade occurred right after market close this Monday.

    23 million shares moved, which is 15% of the company. Would seem to be a block trade, no SEC filing. Unusually large size. Most of the time these trades are sales but the stock closed at 27.40 and the trade went off right after at 27.42. That would seem to be a buy but where the shares came from God only knows…there is no single shareholder with that number of shares….

    There’s an activist already in there that owns 8.5%, can’t imagine they’re moving into a 25% position….if it’s a new holder they have ten days to file, which would be 12/28, the Thursday before New Year’s weekend…convenient timing, trading desks will be echo chambers then….could the activist be dumping, maybe, but still there’s a slug of extra shares and their exit price wouldn’t be a really great win based on the filings of where they approximately acquired the shares…

    IDK, I got into this stock on the fundamentals and only saw this trade as I was exploring if I could write some calls against my position and the volume jumped out…

    Not a reason and not recommending anyone get in this stock on the back of the trade or even fundamentals (note: I was looking to hedge/exit some of my position and I already have solid banked gains) but now I may take a look at adding to my position and then maybe buying some put protection.

    I’m in at the low 22s, if I double my position my cost basis would be about 26 and I could buy protection out to Jan 19 at that level likely for 30 cents….

    My thought is the market knows who/what happened and hasn’t puked it so the 13D on 12/28, whatever it is, would be a buy the news moment for the share price….IDK…

  74. leftwing says:

    Typo, cost is low 24s…math on DCA is correct at 26.

  75. LAX says:

    A New Jersey con man with a “bad reputation” who was pardoned two years ago by former President Donald Trump has been arrested again and accused of defrauding investors out of millions of dollars.

    Eliyahu “Eli” Weinstein and four other men are charged with fleecing more than 150 people out of $35 million in a “Ponzi-like scheme,” according to an arrest complaint unsealed Wednesday in federal court in Trenton and a statement from the office of the U.S. attorney for New Jersey.

  76. Phoenix says:

    Fumb Ducks. Wanted to be “heroes” to the police, the police walk, these eejits get locked up. Popo lied to them, never told them the truth either. Or how dumb azz legislators make laws that if you are an eejit and listen to them, you get what you deserve.

    Enjoy your sausage in prison. RIP young innocent man.

    LOCAL NEWS
    Elijah McClain death: Paramedics who injected Colorado Black man with ketamine found guilty

    A Colorado jury on Friday found two paramedics guilty of criminally negligent homicide in the death of Elijah McClain near his home in Aurora. The 23-year-old Black man was walking home in 2019 when he was confronted by police officers who forcibly restrained him and then the Aurora Fire Rescue paramedics — Jeremy Cooper and Peter Cichuniec — injected him with ketamine.

    Cooper also testified in the trial, and both paramedics testified that the police officers didn’t fully tell them about McClain’s condition when they arrived on the scene of McClain’s encounter. One paramedic said they felt the need to quickly provide care for McClain after seeing police officers slam him to the ground. They say the officers didn’t tell them, however, that they had placed McClain in a neck hold.

    In 2018 Colorado state regulators had approved the drug for someone who was in an agitated state and showing signs of excited delirium. The defense for both men argued that was the case — that they were following their training by giving ketamine to McClain because he was showing an unusual amount of strength as he was being restrained and was acting in a strange way.

    “There was no justification not to assess Mr. McClain.” Well when you want to be a hero to the men in blue there is. Stop resisting and give him the meds like we asked you to.

    Whatever time you get in prison, it isn’t enough. There is no justice system in America, only a “order” system.

  77. Phoenix says:

    LAX,

    He is going to walk. People like that commit crimes cause they have already figured out their chances legally.

    Not gonna get the sentence that poor kid got just for the crime of walking home and “being suspicious” by some guy named Juan who could barely communicate with a dispatcher. If I were that dispatcher I would have sent the officers to see how much Juan was drinking.

  78. Juice Box says:

    LAX – The SEC and FBI need to have their own satellite offices in Lakewood NJ, it will save them the trip from Newark tolls and gas etc. I cannot even count how many times they have had to go down there and investigate all of the alleged crimes that come from that little corner of New Jersey from various nefarious LLC corporations.

    In the case of Weinstein he was not pardoned. He had his sentence commutated from 24 years to only 8 years in jail by Trump. What is of interest about his sentence being commuted was multiple religious men actual Rabbinical Haredi leaders went to Trump represented by power broker lawyer Alan Dershowitz. These religious men wrote letters pleaded for his early release, as in their word he was a changed man. Trump believed them. So the scammer Trump got scammed by other scammers and you are angry at Trump?

    BTW in this latest Poniz he scammed his own friends and family again from his KLAN. This time is was some fake deals that did not exist first for Covid-19 N-95 masks and supplies for Israel and later to supply Ukraine’s war effort. BTW some of the defendants accused in the latest Ponzi remain at large aka the community is hiding them.

  79. Very Stable Genius says:

    Teamsters blast bankruptcy-bound Yellow, cite $700 million Covid loan firm got from Trump White House
    PUBLISHED MON, JUL 31 2023

    Bankruptcy-bound trucking firm Yellow received $700 million in Covid pandemic relief loans three years ago, after Trump administration officials pushed for it despite objections from the Defense Department.

    The Trump administration in July 2020 approved the $700 million in loans to then-financially troubled Yellow, formerly known as YRC Worldwide, under the so-called CARES Act, which authorized such for companies “critical to maintaining national security.”

    A House subcommittee in April 2022 issued a scathing report on the loans, saying they were extended to the company despite the assessment by Defense Department officials that the company was not “critical” to national security.

    The report said, “The loan’s approval involved the intervention of top Trump Administration officials —potentially including the president,” Donald Trump.

    According to the report, documents show that Trump White House chief of staff Mark Meadows planned to call Treasury Secretary Steven Mnuchin about Yellow’s request for the loans in May 2020.

  80. Juice Box says:

    Here’s an immature Christmas joke…..

    It’s Christmas eve and Santa is delivering presents. In one house, a young woman is waiting for him when he climbs down the chimney. She says to him “Santa, will you stay?” And he says “Ho ho ho, Santa’s gotta go, I got presents to deliver you know”. “Well, if I take off my gown will you stay?” and she drops her gown, standing there in her bra and underwear. “ho ho ho, Santa’s gotta go, I got presents to deliver you knoooow” he responds. “If I take off my bra, will you stay?” and she takes off her bra. “Ho ho ho, santa’s gotta go, I got presents to deliver you knoooow”. “If I take off my panties will you stay?” and she takes off her panties, standing there naked. Then Santa says “Hey hey hey, Santa’s gotta stay, can’t get up the chimney with a stiffy in his way!”.

  81. Fast Eddie says:

    Juice, Lol.

    Merry Christmas to all and ho ho ho, I have Covid! Just tested positive. I never tested positive before. I was feeling tired all morning and my eyes actually hurt and back and neck muscles feel stiff. My spouse wasn’t feeling well, too. Went to the drug store, got the tests and eureka, no Christmas Eve or Day with family. Oh well, sweats, football and movies these next few days.

  82. Libturd says:

    Get the paxlovid as quickly as possible. Feel better.

  83. Juice Box says:

    Covid everywhere folks. My sister in law got it, she was supposed to host tommorrow so now that is off, my brother in laws wife has it, kid across the street has it too now.

  84. Hold my beer says:

    Fast

    Sorry to hear that.

  85. Jim says:

    Juice Box says:
    December 24, 2023 at 11:18 am
    Great cute joke Juice, we all need to Spread a little joy this holiday season.

    I also have come down with Covid and whole family is celebrating but me…. I am recuperating , hopefully.
    Merry Christmas to all , if you have young kids expect to be up at 5.

  86. 3b says:

    Fast: Feel better.

  87. Libturd says:

    This must be the conservative strain of Covid.

    Hope you got the vaccine.

  88. Libturd says:

    And happy holidays to everybody!

    Jews on ice in the morning.

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