While we’re on the subject of Montclair, I’d like to invite everyone out to the Montclair Twilight Criterium tonite (Thursday, May 25th). While I’m not racing tonite, I am part of the crew putting this race on.
For those who don’t know what I’m talking about, a criterium is a multi-lap bicycle race around a closed track, where the course is typically a short loop. This is an important race for us, we’ve been trying to put on a downtown crit for years. Not an easy feat once the politicians realize that you need to close streets. Hopefully we’ll get a good number of spectators, the more that turn out, the better chance we have at making this an annual event.
Additional information on the event can be found here:
Montclair Challenge
For those who follow cycling, there are some big names coming out to race tonite, not just the usual local crowd. Looking over the registration list I even see a handful of national champions and olympians coming out. Cycling is a big sport in Northern NJ, however it’s fallen from favor as a spectator sport, simply because it is difficult to get a race venue organized. We’re trying our darnedest to give this sport the credit it deserves.
So come on out tonite! Don’t give me any excuses about not being local, I know most local readers are within a few minutes drive! Those coming home on the Montclair Boonton Line tonite make a stop off in Montclair to watch.
The races start at 4, but the Pro race gets going around 5:30-6. Don’t worry if you get there a little late, there will be plenty of action!
See you all there!
OT, but I found this link on Housing Panic. It has Chris Thornburg from the Anderson School at UCLA (the ones who in addition to Shiller pegged the stock market bubble)He describes current economic conditions, the housing bubble tax deferments (not cuts!!) well worth the 45 minutes of video.
CF what do you think of Anderson School’s analysis?
http://video.google.com/videoplay?docid=-2640239019877885520&q=global+warming&pr=goog-sl
Total existing-home sales – including single-family, townhomes, condominiums and co-ops – slipped 2.0 percent to a seasonally adjusted annual rate1 of 6.76 million units in April from a downwardly revised level of 6.90 million in March, and were 5.7 percent below the 7.17 million-unit pace in April 2005.
Interesting. Usually NAR plasters these press releases across their home page. Today I had to look for it.
I had to look for it myself too. Wasn’t there anywhere. I expected the decline – but thought that the market would react positively to it by assuming that the rate hikes were done. Well – live & learn.
CNS
Metro:
As you stated, this video is well worth the time to view. Clear language, and an energetic and engaging speaker.
I used my lunch time to watch it. For anyone else, you can skip the first 12 minutes until you really get into the meat and potatoes. Although, if you have the time, watch the whole thing. Given the drivers of the CA economy, I wonder how similar NJ is, likely A LOT! Just replace Wall Street with Entertainment and Tech.
Briefly:
Minute 21 – when do prices go down?
Minute 23 – US Real Housing Prices
Minute 24 – asset returns
26 – why are homes more valuable?
30 – what is a bubble?
33 – what is a real estate bubble?
36 – how does a real estate bubble happen?
37 – how does it end?
39 – common housing myths
43 – don’t think trends, think fundamentals
45 – when is it going to end?
50 – housing markets are not the same as stock markets
52 – advice
Grim-
How did the race go BTW?
Jm
I watched the video too, compliments of housing panic and thought it was very good also. Now I’ll try to convince the “other half” to watch it.
Andy
BTW – Thornburg is on Bloomberg On The Economy from time to time. He is CA-centric, so I tend not to follow him as closely. Kind of like the Ben Jones Blog is AZ-CA-USA.
The message is right, but the focus is different enough that one kind of needs to screen out day-to-day information that is not NJ-NYC-centric.
grim:
I think it may be worthwhile to give metro’s/andy’s/Housing Panic’s link some attention.
It is a good plain language primer for everyone. A bunch of great quotes included. A lot of logic. A tremendous amount of relevant and well-supported opinions. It really ties everything together well.
chicago
Grim – where in Montclair is the course? I get off at Walnut street around 6:15. Let me know
Yesterday’s Bloomberg on the Economy – first half
http://tinyurl.com/lmm2j
Ok, I’m an idjit…didn’t notice the post was from today.
Grim, hope the race goes well tonight.
JM
CF,
I thought it was applicable, Thanks for the filter analysis for NJ. I like these guys because they tend to be contrarian and truthful. Thanks for the input.
Metro
On the subject of the Montclair bike race–it was an utter disaster for residents. We were not informed that major roads would be blocked off during rush hour!!!! Check out baristanetnj.com and see all of the comments from commuters unable to get home and panicked parents whose children were stuck in school buses. Drives that would normally take five minutes took 45, with all local roads bumper to bumper and everyone extremely, understandably pissed off. Not the cyclists fault– just appallingly bad planning on the part of the township. It’s outrageous enough to block off people’s access to their own homes–but then to not even inform them ahead of time! Words fail me. We all assumed there was some major tragedy unfolding (a bombing? a multi car pile up?). But no–just a bike race!!! I predict it will be a long day in hell before the people of Montclair “agree” to host such an event again!
Oh get a life
The majority of residents loved the event. At least 30 people came up to us and thanked us for putting the race on. The event was an unquestionable success. We look forward to putting this on every year, for years to come.
grim
http://www.baristanetnj.com/2006/05/bike_race_leaves_traffic_crawl.php#more
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