From the NYT:
A RECENT report suggests that the housing-market slump is hitting baby boomers particularly hard: many middle-aged homeowners had been so seduced by the rising prices of years past that they failed to save for retirement and may now owe more than their homes are worth.
The Center for Economic and Policy Research in Washington, which released the report last month, estimated that 30 percent of homeowners aged 45 to 54 were in this predicament, known as being “under water.” (About 15 percent of older baby boomers, 55 to 64, fell into that category as well.)
So, if these people were forced to sell their homes now, they would have to bring cash to the closing.
The center’s report also found that baby boomers in the 45-to-54 group saw their overall net worth plummet by about 45 percent over the last five years, to a median level of $94,200 from $172,400.
While the drop partly reflected the meltdown of Wall Street, Dean Baker, the co-director of the Center for Economic and Policy Research, said that conservative estimates showed that home equity accounted for about $20,000 of the net income figure.
Another factor that has led to a decline in personal wealth is what the report calls “the near zero level of savings nationally” from 2004 to 2009.
“As a result of the bubble-inflated values of their homes, tens of millions of families opted not to save during what would typically be their peak saving years,” the report said.
From the APP:
Waiting for sunnier days
The Shore’s summer home rentals could suffer from the devastated labor market, but industry observers aren’t writing them off just yet.
Marc Rosenthal has always rented out the upstairs apartment of his Bradley Beach home to help him make his mortgage payment, but the task has never seemed quite as daunting as this year.
A commercial photographer, two of his clients recently went bankrupt before paying him. So the $9,000 in rent he could receive this summer would be welcome relief.
“It’s pretty important,” Rosenthal said. “I’m not going to be on welfare if we don’t rent it. But it would be a financial hit for us not to rent it.”
The summer rental season, an early indicator of the tourism season and a vital income stream for many Shore home owners, is off to a slow start. Inquiries from visitors are down, forcing homeowners to lower prices.
Homeowners say they struggle to make a profit even during the good times. But they aren’t writing off the season just yet, noting that the Shore’s tourism industry has withstood a sour economy before.
“Some of the homeowners are on fixed income, and this is how they subsidize it,” said Tamara Schwier, broker manager for Henry S. Schwier Inc., a real estate agency in Sea Girt. “It’s quite important to the whole area.”
…
Schwier, who focuses on Spring Lake and Sea Girt, said the visitors come for the Shore lifestyle. They spend their mornings at the beach and their afternoons on the patio. And they come back year after year, developing a network of friends in the area.
Her observations this year: The number of inquiries are down, visitors are booking shorter stays and in Sea Girt, five rentals are under contract for at least part of the season, and 35 are available, according to Multiple Listing Service information.
“Supply is higher than demand,” Schwier said.
#1
“Supply is higher than demand,”
My vote for understatement of the week.
ok I agree with my husband, the gov’t truly funcitons like the mob, just put a gun to our heads and take the money, just because you can
http://www.comcast.net/articles/finance/20090314/AIG.Bonuses/
http://www.voxeu.org/index.php?q=node/3264
Opinion from The Economist
Good Bank vs. Bad Bank: Don’t touch the unsecured creditors! Clobber the tax payer instead. Not.
“Zombie banks need fixing. Good Bank and Bad Bank solutions are the leading contenders. This column reviews the implications for distributional, incentive, and financial stability effects. It argues that too-big-to-fail banks should immediately be taken into public ownership and restructured decisively through a mandatory debt-t–equity conversion or debt write-down. The Fed and Treasury have been captured by save-unsecured-creditors reasoning pushed by special interest groups.”
Hi Cindy, what is going on in CA with the teacher’s rally I heard about?
Hi House Hunter – Well, Many of my friends participated. One of my closest friends will be losing 68 teachers at her district – Central Unified. A neighboring district – small – Madera – is losing something like 70. Sad – but the districts have decided to cram them in and let go of the 20 to 1 ratio for primary. The State basically took away the restrictions by lowering the “penalty” to 5% for doing so.
My district is non-union. We have let go of no employees and have chosen to have 21 or 22 in primary grades instead of the strict 20 to 1. Mostly is saves on our transportation budget. Under the State rule, we formerly transported say – one child – to a neighboring school to be in compliance.
Without our $8M budget surplus we would have been up a creek this year with the 11% cut. Next year we will be cut another 4 1/2 percent. We are still mulling over how we will pull that off.
The State owes the schools $9.4B because they have held the COLAs for two years now. There is a measure on the May ballot that would free up that money to come back to schools if voter approved. I am not holding my breath. Who in their right mind would approve a tax at this point.
So we are stuck with the increase in income taxes and a new 1% sales tax increase. They are only good for 1 1/2 years. The vote, according to my understanding would extend that – fat chance.
Our per-pupil spending is already low. My district gets about $5,850. per pupil. There is a discrepancy within the state with SF and LA receiving a larger chunk. Sometimes there is even talk of breaking the state up with a long coastline area (LA to SF) becoming their own state. Why? Because the rest of us feel we finance their bond issues and crazy politics. Ah, California.
Cindy (4)-
Will never happen. The gubmint will let the US sink rather than cram down debtholders.
Note that debtholders are comprised primarily of foreign gubmints, sovereign wealth funds and financial institutions holding each others’ paper. Behold: our new masters.
I think we should start executing people who can read.
Uppity readers…
the sad state of our county:
everyone wants to be on a reality show
http://www.nypost.com/seven/03152009/news/regionalnews/models_in_mass_mayhem_159696.htm
will there be mass mayhem over the real estate debacle?
(7) Clot – I know you say it will never happen but I can’t help myself. I MUST keep searching for viable solutions…
I’m officially a freak.
http://www.wallstreetwatch.org/soldoutreport.htm
I know this is dtd. but I like the format – the rundown of events…
I feel blessed that I get to make my tuna fish sandwich and go to work everyday. That’s the long and short of it for me.
“Another factor that has led to a decline in personal wealth is what the report calls “the near zero level of savings nationally” from 2004 to 2009.”
Does this mean retirement savings are not part of personal savings? 401k,403b…
There was an article on time magazine 2 years ago how trillions of dollars in 401k’s are harder to manage by fund managers.
201k’s?Still a savings..right?
Cindy,
What percentage of your districts budget goes to educating illegal residents from south of the border?
Cindy (11)-
The problem is not you. If a bunch of yahoos like us on a blog can figure out some decent solutions, you know this problem can be fixed.
The real problem is that TPTB won’t implement the solutions, because the solutions run counter to their self-interest.
Toss is a narcoticized population that cannot bear even the tamest of personal hardships or sacrifices, and you have the perfect unwitting (and dull-witted) accomplices to the crime.
Most of us won’t know what happened until we’re roaming the country, cadging from dumpsters and looking for day labor.
Can’t happen? It already did once…and it’s already begun again.
15-
There’s the real Frank.
Government to help CRE default faster.
“The state appeals court decision bars New York City landlords from deregulating apartment rents while receiving a popular tax break meant to encourage building renovations. Industry officials say the decision could affect as many as 80,000 apartments in the city, trigger widespread defaults on loans, eliminate construction jobs and reduce property tax revenues for the city.”
http://www.nytimes.com/2009/03/15/nyregion/15stuytown.html?hp
(17) And Clotpoll – notice I will give my usual response – as in zippo.
Where’s the recession? RE market is on fire.
“The prices on the new apartments that have actually closed so far in 2009 were so high (including a $30 million glass-walled two-story box built atop a converted industrial building on Hudson Street in SoHo, and a $15 million triplex in a condo conversion at 101st Street and Fifth Avenue) that they drove both the average and median condominium prices to near-record levels, far above the prices in the last half of 2008.”
http://www.nytimes.com/2009/03/15/realestate/15deal1.html?ref=realestate
#19,
More like 60%??
Clot – I just want my government to focus on one thing just now: The financial mess.
Forget cap and trade, forget spending on new health care programs – forget it all and straighten out the banking mess.
Our credibility as a nation of laws and finances is our forte. With no convictions for the fraudsters, and the off-the-book balances – we look like a country even I don’t recognize.
I just thought I would through this out there but I was told by a realtor in January that Manasquan summer rentals were booking up fast. They were ahead of last year. of course it was pointed out that Manasquan was the only town in Mon. co. that had median prices rise… I think in Jan. I might have even gotten a recession there is no recession comment.
(22) I hope that as a country we can focus on more than one thing at a time.
Wife and I went to BJ’s yesterday in Riverdale. It was packed, people loading up their carts.
Maybe it’s not a recession, and just a correction.
-Richie
Wow Cindy, sounds like a lot is going on. Stay well
(24) PA bound – ” I hope that as a country we can focus on more than one thing at a time.”
Ideally – but how is that working for us?
(26) Thanks for the good word – House Hunter – Will do.
Cindy,
Is it kind of early to be blogging in CA?
(29) – Early?
Frank – I get up at 3AM – Read/blog until I leave for school at 7:00 or do my weekend school work – Week nights, I’m in bed by 8:30.
I try to make up for it on the weekends….no matter. I still wake up at 3 even if I’ve been out til midnight.
#23 crossroads
Manasquan is special. It has the Squan Tavern, and is near Belmar and Pt Pleasant. Plus you can go to Neptune for your blow.
Manasquan – An old Lenape Indian term meaning “small, overpriced teepee about a half mile from the Ocean”.
http://news.bbc.co.uk/1/hi/world/americas/7944564.stm
so whats the next move for NJ real estate. pricing goes down for the rest of the year?
what happens to the underwater bag holders? Corzine going for the bailout in certain towns?
Cindy (22)-
I wish the gubmint would all go to the beach, or concentrate on something else. They’ve done enough damage to the financial system. Time to move on.
We are not a nation of laws and legit finance. Haven’t been for a while. The thing we most resemble is an odd hybrid of Argentina and Japan, circa ’91.
The only difference is that we are a big nation with a big military complex. I hope nobody figures out that we can declare war on somebody new and “fix” things fast.
#30,
How is RE market in CA? Are people buying after these huge price drops? I think I need to go out there in few weeks to survey it myself.
Boomer net worth shrinking? Please. It never really grew in the first place. Most of the growth, perhaps all of it (given the boomer spending and saving patterns), came from the perception of increased home values since 1998/99. Unfortunately, that was not real appreciation and was as real as the size increase one sees when walking past a funhouse mirror — Look at how BIG I AM NOW! Yea, right. Just keep walking a little further, you will be back to normal size soon enough.
My friend bought a house in Mt. Olive in 2000 and paid $291K. I just read a similar house sold on their block for… $290K. Wow! 2000 prices in some areas!!
#37,
Article by Nouriel Roubini – Bernie Madoff is the Mirror of a Made-Off Ponzi Economy
http://caps.fool.com/Blogs/ViewPost.aspx?bpid=162300&t=01006651945911965960
Cindy
I hope your district continues to find ways to deal with this. It sounds like the other districts are doing what they think is the best.
Re: Transporting kids to other schools. Is it out of the question to create another class in that grade level? Is your school small? Would a teacher’s salary for creating a new class be more then the cost of transporting these other kids? Here, we won’t create a new class for one or two students but teachers will not raise a fuss over taking in one or two students above the cap.
Teachers in NYC are still oblivious. They think what’s happening in California won’t happen here. They really think they’re insulated, that it cannot and will not happen here. The denial is unreal. I’m not even nice about it anymore. I tell them to wake up and open their eyes. If they choose to believe all is well, I am sure that there will be an enormous amount of people who will feel like they just had the rug pulled out from under them. Too bad they chose not to see the people who were walking over to the rug and grabbing a good hold on it.
Kim,
My husband and I looked in Mt Olive and found some nice houses but when we saw the taxes, we realized we couldn’t touch Mt. Olive. I think the taxes in Mt Olive are high for Morris County.
On that note, I was wondering if people on this blog had a little mantra they told themselves to keep from jumping the gun and purchasing too soon. I am trying to remember the one Grim posted when he said repeat after me prices can fall….(something like that but I can’t remember it)
Grim – Huge fan of the blog, read it every day, just don’t comment.
@20
That claim in the NYT is not credible. I have no idea about the very high end, but I do know that my banker friends in Manhattan and the cushy suburbs (VP/Principal level, ~$1 mm apartments/homes)are starting to state openly that they cannot afford to stay in their apartments if they do not get paid reasonably well this year, which they all know that they won’t (how many folks would ever admit to this publicly? it’s that bad).
I’m renting in Stuy Town, and expect a 10% reduction in the rent given what I heard when I called them about new rentals (including free month, etc.).
Manhattan and the surrounding areas are in some serious trouble.
Three Wise Men Offer Three Takes On Markets
http://www.washingtonpost.com/wp-dyn/content/article/2009/03/14/AR2009031400057.html?wprss=rss_business
(40) Lost –
The procedure was called “cap and bus.” The penalties for going over the 20 to 1 ratio were cost prohibitive. It was cheaper to transport those one or two over-flow students to a neighboring school that had openings. We did not have the numbers to hire another teacher.
The new ruling creates flexibility in the law so we can forgo the “cap and bus” – hold a few extra in our own classrooms – and save the transportation expense.
The other system was insane.
It is the union schools that are hurting because they continued to take raises without planning ahead.
I see them needing to cut back those salaries but instead they are choosing to let teachers go and cram them in the classrooms.
Next year, once our surplus is gone, we will need to consider many options. We shall see. So far, the biggest disruption is administrative transfers. Some teachers need to move to other schools in our district, even if they don’t want to.
http://www.youtube.com/watch?v=0xY7mBQrzXU
Oh, I almost forgot. Here’s my new wine report.
http://www.youtube.com/watch?v=rxgPem4Q9lA&NR=1
Oh No – Here’s a wine for you.
You’re a monkey. It all comes down to that. You are a slightly clever, pants-wearing primate. If you forget that you’re nothing more than a monkey who has been fashioned by eons on the plains, being chased by tigers, you shouldn’t invest.
http://www.forbes.com/2009/03/12/barry-ritholtz-interview-intelligent-investing-ritholtz.html
I recently went to the budget presentation for my school district. I really feel that the board has its head in the sand. The board president said, with a lot of pride, that they were able to keep all services, activities and only hire two new teachers and keep under the 4% cap. Perhaps things should have been cut. How about offering buyouts to the teachers making over $90,000/year who are eligible to retire so they can hire teachers for $36,000/year. Cut activities – instead of two plays a year, how about one? Do we really need freshman teams for so many teams since the majority won’t make JV the next year?
Things are going to get worse before they get better and they just don’t get it.
rita,
Yes, I agree, Mt. Olive prices are unusually high – my friend’s taxes have doubled since 2000. It’s a nice area but the schools are overcowded if it’s a horrid commute if you work more than a few miles east.
Twilight of the Baby Boom
A generational struggle is underway. What’s so unusual is it’s taking place within a single generation.
From the magazine issue dated Feb 11, 2008
So it’s no surprise that Hillary Clinton (born 1947) would have a different generational identity from Barack Obama (born 1961). Late Boomers, dubbed “Generation Jones” by activist Jonathan Pontell (because of in-between anonymity and lots of Joneses in popular ’70s songs), make up the largest share of the voter pie—26 percent. Despite our size (the peak of the baby boom was 1957, the year I was born), we spent years feeling like generational stepchildren. It was as if we arrived late at the ’60s party, after everything turned bitter. But if we weren’t convincing flower children (or anti-hippies, like George W. Bush), we weren’t part of Generation X either.
The Gen-Xers were too cynical. Instead we became the perennial swing voters, with residual ’60s idealism mixed with the pragmatism and materialism of the ’80s. Even as demographers concluded that generations are really 10 to 15 years, not 20, no one represented us.
http://www.newsweek.com/id/107583
Extremely Cynical 50: Fall in that group could not agree more.
Peak Earning Years
Peak earning years refers to the time in life when workers earn the most money per year.
US perspective
Given their initial lack of experience, workers’ earnings start out low. Earnings peak when workers hit middle age, then begin to fall as retirement approaches. But peak earnings now occur later in life and reach a higher level.
Two decades ago, the peak earning years were between 35 and 44. Now they occur ten years later. Twenty years ago, those in their peak earning years took home about twice as much as workers between the ages of 20 and 24. Now they earn more than three times as much.
In the past, muscle power was an important factor in earnings, but that falters with age. Today, people are paid for working smarter and doing so for a longer period of time.
http://en.wikipedia.org/wiki/Peak_earning_years
This article says there could be 22 million abandoned large lot homes due to rising energy costs and lack of disposable income. mcMansion are already being chopped into multi unit dwellings.
http://finance.yahoo.com/family-home/article/106732/Suburbia-R-I-P
And I thought we were gloomy.
@ 51 They must have been eating some strong hallucinogenics in that field-they’re still high on themselves-eff you guys.
There’s the matter of the bill…
frank is less funny than frank caliendo (if that’s possible) and more racist.
My wife asked me yesterday “How’d this all get started?” as we drove down Route 46 and saw more vacancies than ever. I don’t know – even though I consider myself well informed. What was the straw that broke the camels’ back?
Both of the local cheeburgers closed. This is getting personal now!
Noah,
My guess is $4 a gallon gas was the tipping point. People were forced to change their spending habits. Once they broke the habit of buying $4 coffee everyday, a book or DVD a week, etc, they realized they didn’t need that garbage to begin with. As that money went from going to gas into savings or debt repayment as gas went bck to sub $2, consumer spending dropped and we are seeing the fruit or our non labors.
baby boomers:
a generation of people that just underwent a massive pump & dump.
as maken earrning, told to invest “long term” in the markets via many routes.
then, as they gear up to retire, dump & short it all.
wow.
SAS
wealth too has left the country.
where will it appear?
It will appear in coutries that have a young and growing population.
Not here as we have an old and ageing population.
Let me look in the mirror… yup
more gray and white hairs since yesterday.
we are all bagholders.
hope you love oatmeal.
SAS
i love oatmeal…..and not that instant stuff….
sas
I like oatmeal cooked with bits of apple or pear. No HFCS for me.
grim, you know what would cheer me up right now….an edition of comp killer!!
Kim says:
March 15, 2009 at 1:41 pm
rita,
Yes, I agree, Mt. Olive prices are unusually high – my friend’s taxes have doubled since 2000. It’s a nice area but the schools are overcowded if it’s a horrid commute if you work more than a few miles east.
how have taxes doubled in 9 years but the value of the house is about the same? is that really accurate?
yikes @ 64… yup. I know house prices have been coming down quite a bit in their area in the last year but I’m surpised they’re down this much. As for taxes, I believe they were $3800 when they first moved in and now they are over $8000.
SAS….man of wisdom…honor the old for they have knowledge. Our culture will learn that one eventually.
yikes,
Property tax amounts really don’t correlate with property values over time. Property values may fluctuate up AND down, but property taxes rarely go down. Remember, even if an entire town’s assessment goes down, they can just jack up the tax rate to maintain the income. That’s how it seems to work in NJ, not sure about your neck of the woods.
Extremely Cyncial 54 Hmmm… eff me.
Behave yourself, hope you’ll be coming to the next GTG but I doubt it. We can cover it in more depth then.
SAS Get the Irish oats Steel oats I think they are called McCann is the brand in all supermarkets top of the line.
Property tax amounts really don’t correlate with property values over time. Property values may fluctuate up AND down, but property taxes rarely go down. Remember, even if an entire town’s assessment goes down, they can just jack up the tax rate to maintain the income. That’s how it seems to work in NJ, not sure about your neck of the woods.
agree with all of that, BUT … NINE YEARS? home hasn’t gone up, yet taxes have DOUBLED?
i know your home isn’t an investment, but those figures are scary.
if you assume housing values are going to stay flat (or drop) for the next two years … and you assume taxes are only going up …
ugh, im just glad i dont live in that guy’s town
yee I like oatmeal.
SAS
@68 Nope peak earners are taking a hit, doesn’t look good.
Is that part of the “wealth transfer”?
I have much respect for my elders by the way…
I going through some of my records today. Records have that great sound that CDs can’t capture.
listening to The Doors and ABBA.
ABBA- waterloo
Doors-LA Women
:)
SAS
speaking of LA women.
one time in the early 90s, we worked with a “LA women” whom was a hardcore female gang member.
Inside her mouth on the inside of the bottom lip she had tatooed c*ck sucker.
When I saw this, she must have caught the expression on my face as I was a little taken back.
she says to me “baby, I’m the bomb at it”.
She turned out to be a great person, as for in the sheets, I’ll leave that for someone else to discover.
SAS
“Food, art give open houses some pizazz
Realtors invite local firms to bring in their wares to attract more lookers, but that doesn’t necessarily translate to a sale”
http://www.denverpost.com/economy/ci_11911469
Doublespeak:
sound = mess
“White House says economy is sound despite ‘mess'”
http://biz.yahoo.com/ap/090315/obama_economy.html
“BUT NINE YEARS? home hasnt gone up, yet taxes have DOUBLED? ”
You expect the public employees to have flat wages and benefit costs over 9 years? As long as a municipal budget stays flat, one should expect taxes to go up, regardless of what happens to home values.
http://www.obamadeception.net/
AIG released the list of their counterparties and suprise!!! Goldman Sachs is on top!
http://img11.imageshack.us/img11/3717/picture6ahi.png
Here is the official press release:
http://www.scribd.com/doc/13294757/AIGs-Biggest-Counterparties
“Goldman Sachs is on top!”
Shocked, Shocked, I tell ya! Lets give these guys another $100 million for a job well done. After all, we are the united states of goldman sachs.
anyone see bernanke on 60 mins? had to tivo with brackets coming out…
After the 60 minutes piece, I fully expect obama to have mandatory screenings of Rocky and rudy for the populace.
Bernanke basically said all is well kumbaya etc.
He did admit we are just printing money, we staved off great dep #2, inflation is coming, AIG pisses him off, unemployment will increase, USA will remain the best, most innovative etc. He did say that NO BANK will fail on his watch. All in all, came off nervous, but something that will resonate with most. Smart idea on the administrations part. My prediction is rally on until some gruesome #’s come out.
Interesting story, on organic/local food followed it.
Stan,
I have a hard time believing that even the LCD sheeple out there still believe anything Bergabe has to say, but then again this is America, that shining city on the hill, blessed by God, the birthplace of Jesus.
Hehehe,
i never overestimate the general public.
you live in hoboken right?
as much as i hope to be wrong, Cammarano will win. That’s my point with the general public
Most parents fear retaliation from the teachers. Imagine if you’re the one causing the ruckus. Your kid will be the one punished for it. That has been brought up over and over when this topic comes up on my morning commute radio station.
The rest of the parents, well, it’s enough to say that ‘it’s all for the children!’
So if you want anything to come up, you need the help from the current administration that is willing to make enemies and send down a blow that will crush their spirit. Unfortunately Corzine does not have the backbone.
Believe me everything has a way of working out. You can cut half the funding and they will find ways to make do. You don’t go in and spend millions on stupid audits and assessors just to save thousands years later. You act now!
Willow says:
March 15, 2009 at 11:53 am
I recently went to the budget presentation for my school district. I really feel that the board has its head in the sand. The board president said, with a lot of pride, that they were able to keep all services, activities and only hire two new teachers and keep under the 4% cap. Perhaps things should have been cut.
I think I may break my “no voting” self-ban to pull the lever for Christie.
I really think that guy is going to go scorched earth all the way.
Should be fun watching the masses of useless gubmint employess civil service-shuffling their way out of Trenton for the last time.
If this happens, I’ll even go to Trenton and hand out bags of pork rinds to the lard-assed doofs we’ve been supporting for the last 20 years.
200K (87)-
Most of my kids’ teachers fear me.
Maybe I should run for school board.
Is the age of 12 too young to introduce riflery and gun safety courses?
How did I miss this?
Liverpool 4, Man U 1. At Old Trafford.
Sometimes, things just work out.
Clot 89 Is the age of 12 too young to introduce riflery and gun safety courses?
I want to be a fly on the wall when you float that one to the board. Should go over real well. LMAO just thinking about the look on their faces.
Naw dude….I was shooting 22 cal at 12 at a range….just like a big BB gun….so to speak.
89….teachers are by and large fearful creatures….not ones to invite confrontation. Hate change. Not a job most go into for a ‘dynamic and fast-paced thrill a minute work environment’…most crave control.
I am just super excited about the couple of very well done home improvement projects my favorite contractor did over the past couple of days….yeah man!
I also sunk two 20 foot putts today with a Circa 62 by Scotty Cameron….damn though $300 for a putter….*gulp*
Essex can’t have the whole populace familiar with guns & able to shoot well can we now. Sort of takes away the govs ability to control.
My wiener is much larger. I shot rifles at 6 in my camps riflery program! Lots on safety as well.
mike (91)-
Believe it or not, I went to a school where we took riflery and gun safety for PE in 7th grade.
The real question is if your wife is hot….that pretty much speaks volume about your weiner bro.
96….ever seen someone shot to death? We got too many guns….anyone that uses one is a crime needs to die. That would be a fine deterrent.
As much as I joke about it, I’ve never fired a gun after having as much as one drink.
Gun safety courses are good.
Looks like we get nasty Essex tonight.
Monday dread, or what?
Meh s’all right . You just have to repeat the words: “Peak earners are taking a hit” for ah the next 30 years.
I mean : S-T-A-B-I-L-I-Z-E
#89 No. My son had a BB gun when he was about nine. He refined his talents in Boy Scouts and then later at a range. He is now an excellent shot.
Stan,
Yes Criminalrano will win, it’s true, and he’s a complete crooked scumbucket.
“The Shores summer home rentals could suffer from the devastated labor market”
Just a few weeks ago the line being spun was that, with so many people feeling pinched by the economy, folks would pass on far-away vacations and instead flock to the Shore. I guess that is not coming to pass. If nothing else, it should make it easier to park.
Clot,
Didn’t your school have a class in shaped charges?
CNBC = total losers
He-
Agreed Scammarano is possibly the biggest POS I have ever met……uggh,
re#109 Hehe and Stan don’t worry about that scammer a very dirty election campaign is about to begin, he won’t survive the bad press and does not have to cash to compete.
and you blokes get hot & heavy over the Cramer and John Stewart patty cakes.
One thing you won’t here them touch:
the housing bubble and the long standing partnership of narcotics trafficking and mortgage fraud.
SAS
best thing about monday?
gossip girl returns.
bi-like out-of-my-rear, blind prediction:
Dow +74.12
Couple of questions on a REO Property:
Today, went out first time to look at a couple of open houses. We ended up talking to an agent, and she had a set of MLS listings.
One was for 6 Red Bud Lane, 08812, asking 650k+, and another was 10 Red Bud Lane, 08812, asking for about 525k. When we drove by, the sign on 10 RBL said “Bank Owned”. I am unable to get *any information* on that. I was stupid not to pick the realtor information for the house (MLS ID# 2658166). It has been on market for 14 days.
Q1) Where do I find details on this property (and ones like it)?
Q2) What are the general issues to be concerned about (condition of the home)?
Q3) Should we get a buyer’s agent? (we are not sure if we will bite the bullet this year or wait for next spring)
Thanks,
S
88: you really think he’ll hold up with what he’s saying and claiming that he’ll do? I know he brought us a few good perp walks, but how do you think he’ll stand the draw of the office if he gets in?
Other topic: If shore rentals are down, that’s great for me. Less people to deal with on the beach while i’m fishing.
Similar topic: Is there any source of information regarding Monmouth and Ocean counties and their respective real estate markets? Being down on the shore, the stuff up north is interesting but doesn’t really directly affect my market.
Also, forgot to mention… while we were driving in Green Brook, we noticed that the Pizza Hut is closed. That was the main place where we used to get Pizza from…
S
Politics is freaking nonsense. Allegiance to individual politicians is stupidity. Having said that, I have known Jon Corzine since before he became a politician. He is a decent man without a single ulterior motive. That is not an endorsement; it is a simple fact. Chris Christie is an obese fraud. (Yes, I am Size-ist; if you can’t stop eating before you weigh 300 pounds, you are mentally ill, at best.) I am not going to do your homework for you but if you are not aware of the man’s dirty contract work for the GOP and Ashcroft in particular, then you are just another idiot citizen.
what’s next? Carla’s a good girl. How about jon’s ex wife.how does she feel
#73 SAS,
Great album! I had The Soft Parade on the other day. Jim was a strange guy but he was a good lyricist. I found these lyrics particularly pertinent to today’s world. I guess things don’t change.
Successful hills are here to stay,
Everything must be this way.
Gentle streets where people play,
Welcome to the Soft Parade.
All our lives we sweat and save,
Building for a shallow grave.
“Must be something else”, we say
“Somehow to defend this place.”
Everything must be this way,
Everything must be this way, yeah. Aah, yeah!
Fingers x’d on my C lotto calls, so far so good…
And +1 on the McCann’s oatmeal, put 1 cup in with 5 cups water and some handfuls of dried fruit (cherries, currants, maybe raisins), into a slow cooker, let it cook overnight.. FANTASTIC breakfast (add some maple syrup, cinnamon, butter)..
Hi Here that the shore is holding in price Wall, SLH, Bradley, Avon and surrounding areas have not come down much at all Hard to find anything in decent shape for 300+
hear