From Re/Max (Cheerleader warning, this is from a press release):
Home Prices Start to Rise, Sales Trend Higher: Housing Recovery Underway
For the first time in 18 months, home prices in February rose higher. With a median price of $171,881, prices in the 53 cities surveyed by the RE/MAX National Housing Report rose by 1.1% over February 2011. Home sales were even higher, up 8.7% from one year ago. With a positive sales trend of 8 straight months above the previous year, it’s looking like 2012 will witness a very strong home-selling season. As a result of reduced foreclosure activity, inventory continued a downward trend for the 20th straight month, 22.4% lower than the housing inventory in February 2011. Consumer sentiment appears to be rising, and record low mortgage rates coupled with favorable home prices are attracting homebuyers and investors who don’t want to miss a historic opportunity.
“All the data is pointing to a very active spring and summer selling season this year, which is great news for a recovering housing market,” said Margaret Kelly, CEO of RE/MAX, LLC. “As sales numbers have trended higher for several months, we have been anticipating a turnaround in home prices, and it looks like it’s finally starting.”
…
Home Sales in February were 8.7% higher than sales in February 2011. This was the 8th straight month year-to-year sales have risen. February home sales were also 8.1% higher than sales in January. Of the 53 metro areas included in the survey, 45 saw increases over February last year and an impressive 26 metro areas saw double-digit jumps, including: Albuquerque, NM +46.6%, Providence, RI +36.7%, Raleigh, NC +33.8%, Boston, MA +30.5% and Chicago, IL +27.5%.
…
The Median Sales Price of homes sold in February was $171,881. This price represents a 1.4% increase from January, and a 1.1% rise from the median price seen in February 2011. February is the first time in 18 months that the year-to-year home price has increased. Of the 53 metro areas included in the February survey, 24 experienced price increases from February 2011, including: Miami, FL +20.5%, Orlando, FL +15.8%, Phoenix, AZ +12.5%, Tampa, FL +11.1%, St. Louis, MO +9.8% and Detroit, MI +8.9%.
…
In the month of February, the average inventory of homes-for-sale in the 53 surveyed metro areas dropped 0.8% from January and also dropped 22.4% from February 2011. Month-to month inventories have now fallen for 20 consecutive months. Given the current rate of sales, and the size of the active inventory, the resulting Months Supply is 6.6 months, a drop from the 7.3 month supply seen in January, and significantly lower than the 9.3 month supply reported in February 2011. Months Supply is the number of months it would take to clear a market’s active inventory at the current rate of sales. A six-month supply is considered a balanced market between buyers and sellers.
So is it crap, or something to it?
Spring is looking great, cause compared to January to March 2011 when we had blizzards everyday the year to year comparision will shine.
Anyone know any cheap (but insured) servicers who handle Glen Ridge (Essex County)?
Stu – Talk to Steve from Steve’s Tree Service, 973-332-5707. Steve is a great guy, great work, great prices. He did a ton of work for me, lots of trees and some major stump grinding. I’ll be having him back in a few weeks to do some additional pruning of the winter damaged trees. He just last week did a huge job for my sister. Be sure to drop my name so I can get a deal when he stops back over.
The glimmer of light at the end of the tunnel is a 90 MPH freight train with the brakes shot and the engineer drunk at the switch.
Extinction before recovery.
Interesting ten longest lasting cars ever made. Funny, odd cars and not a single Toyota car made the list of top ten longest lasting cars.
Olds Cutlass Ciera
(GM A-Bodies) 84-96
Geo Prizm 89-02
Subaru wagons
Rear Wheel Drive Volvos
Ford Crown Victoria
Fiat 500 European version
Mercedes 300D
Honda Accord
BMW 3 series 82-90 models only’
Jeep Cherokee 87-2001
Price increases in FL, AZ, St. Louis and Detroit. Those markets have done the equivalent of rising from the ninth circle of hell to the seventh, and this gets trumpeted as recovery?
Re/Max recruited every mediocre agent in the US into the company during the boom, and they are now top-heavy with retards. Now, they are no different from Clodwell, Pru, Suzanne 21, etc, so they’ve entered the arena of mindless shilling and trolling for suckers.
Meanwhile, all of Re/Max’s retards are defecting to Keller-Williams, which is essentially MLM married to a cult.
Clearly, this is the best time to buy since last week.
u guys are killing me LOL
The Jewish County is Bergen County!!!
A Temple, A Bank and a pharmacy on every corner!
Bergen County is the Jewish County. A Bank , A Pharmacy and a bad food chain on every corner.
banks
where is Hieeee Fivveeee when you need him?
Now this is a first…
From CNBC:
New Rent Report Suggests Possible Bubble
Typically when rents go up, more renters turn to home buying.
When home prices go up, more turn to renting, but today’s housing market is anything but typical.
Rents were up 3 percent nationally in January, year-over-year, according to a soon-to-be released new rental index from Zillow.com. Home prices, however, were down 4.6 percent annually.
When you look locally, the numbers are more dramatic.
In some markets, rents rose almost as much as home values fell. Take Chicago, for example, where rents were up just over 9 percent annually while home values were down just over 10 percent. The same is true for Minneapolis, where the divide is nearly the same. In San Francisco and Detroit, rents are up around 5 percent while home prices are down the same. It begs the question, as the rent vs. own divide grows, will the rental bubble suddenly burst?
Yes. Next question?
For the first time in 18 months, home prices in February rose higher. Home sales were even higher, up 8.7% from one year ago.
Stagnant wages, anemic job growth, skyrocketing property taxes and energy costs decoupling. Any Questions?
Consumer sentiment appears to be rising, and record low mortgage rates coupled with favorable home prices are attracting homebuyers and investors who don’t want to miss a historic opportunity.
Historic opportunity…. BWAHAAAHHAAA!!!!
It’s a f*cking infomercial.
Only problem I see is that most buyers are so stupid they will fall for the line,not check
taxes, town,etc and buy.
Can they be that stupid ? Yes
JJ 5 like to see the list of the shortest lasting cars, probably the Chevy Vega would top the list it started rusting in the show room
Thanks for another informative site. Where else could I am getting that type of information written in such a perfect manner?
I’ve a undertaking that I am simply now operating on, and I’ve been on the glance out for such info.
The Geo Prizm – still see a lot of these out there. I almost bought one instead of my Civic. I even considered the 3 cylinder Geo. The Sprint or Metro it was called I think. Don’t see any of them around.
Sadly, my Civic is so old, it’s starting to look like a Datsun B210.
I think the Geo Prizm was a rebadged Toyota Corrolla.
Goddam Re/Max…
We had a 1974 Vega…the transmission went at 24,000…..so we bought a 1977 Plymouth Volare…..
Mike says:
March 14, 2012 at 7:32 pm
JJ 5 like to see the list of the shortest lasting cars, probably the Chevy Vega would top the list it started rusting in the show room
A Response from Goldman Sachs
From Chairman Lloyd Blankfein
NEW YORK (The Borowitz Report) – The following letter to Goldman Sachs’ worldwide clients was issued today by Goldman Sachs CEO Lloyd Blankfein:
Dear Goldman Client:
By now, many of you have probably read the regrettable resignation letter published in today’s New York Times by former Goldman executive Greg Smith, explaining why he is leaving the firm after twelve years.
In the letter, in which he excoriates Goldman and his practices, Mr. Smith comes across as a man of conscience, ideals, and high moral standards. And as you read his words, you no doubt asked yourself this troubling question: how could Goldman have hired such a person?
At Goldman, we pride ourselves on our ability to scour the world’s universities and business schools for the finest sociopaths money will buy. Once in our internship program, these youths are subjected to rigorous evaluations to root out even the slightest evidence of a soul. But, as the case of Mr. Smith shows, even the most time-tested system for detecting shreds of humanity can blow a gasket now and then. For that, we can only offer you our deepest apology and the reassurance that one good apple won’t spoil the whole bunch.
As to those of you who were serviced by Mr. Smith, it’s understandable that you would be concerned about who will be taking his place going forward. On that front, I have some exciting news: today, Goldman is pleased to announce that our new executive director and head of the United States equity derivatives business in Europe, the Middle East and Africa will be Mr. Joseph Kony. For those unfamiliar with Mr. Kony’s resume, let me assure you that he has the character and moral standards you have come to expect from Goldman, and like the rest of us here at the bank, he has dedicated his life to doing the Lord’s work.
Sincerely,
Lloyd Blankfein
CEO, Goldman Sachs
Why I am leaving the Empire, by Darth Vader
14-03-12
TODAY is my last day at the Empire.
‘I no longer have the pride, or the belief’ After almost 12 years, first as a summer intern, then in the Death Star and now in London, I believe I have worked here long enough to understand the trajectory of its culture, its people and its massive, genocidal space machines. And I can honestly say that the environment now is as toxic and destructive as I have ever seen it.
To put the problem in the simplest terms, throttling people with your mind continues to be sidelined in the way the firm operates and thinks about making people dead.
The Empire is one of the galaxy’s largest and most important oppressive regimes and it is too integral to galactic murder to continue to act this way. The firm has veered so far from the place I joined right out of Yoda College that I can no longer in good conscience point menacingly and say that I identify with what it stands for.
For more than a decade I recruited and mentored candidates, some of whom were my secret children, through our gruelling interview process. In 2006 I managed the summer intern program in detecting strange disturbances in the Force for the 80 younglings who made the cut.
I knew it was time to leave when I realised I could no longer speak to these students inside their heads and tell them what a great place this was to work.
How did we get here? The Empire changed the way it thought about leadership. Leadership used to be about ideas, setting an example and killing your former mentor with a light sabre. Today, if you make enough money you will be promoted into a position of influence, even if you have a disturbing lack of faith.
What are three quick ways to become a leader? a) Execute on the firm’s ‘axes’, which is Empire-speak for persuading your clients to invest in ‘prime-quality’ residential building plots on Alderaan that don’t exist and have not existed since we blew it up. b) ‘Hunt Elephants’. In English: get your clients – some of whom are sophisticated, and some of whom aren’t – to tempt their friends to Cloud City and then betray them. c) Hand over rebel smugglers to an incredibly fat gangster.
When I was a first-year analyst I didn’t know where the bathroom was, or how to tie my shoelaces telepathically. I was taught to be concerned with learning the ropes, finding out what a protocol droid was and putting my helmet on properly
so people could not see my badly damaged head.
My proudest moments in life – the pod race, being lured over to the Dark Side and winning a bronze medal for mind control ping-pong at the Midi-Chlorian Games – known as the Jedi Olympics – have all come through hard work, with no shortcuts.
The Empire today has become too much about shortcuts and not enough about remote strangulation. It just doesn’t feel right to me anymore.
I hope this can be a wake-up call. Make killing people in terrifying and unstoppable ways the focal point of your business again. Without it you will not exist. Weed out the morally bankrupt people, no matter how much non-existent Alderaan real estate they sell. And get the culture right again, so people want to make millions of voices cry out in terror before being suddenly silenced.
Good Morning New Jersey
History rhymes.
Spanish housing prices slid at an annualized rate of 11.2% in Q4 (7.4% previous), a faster decline than even in the midst of the financial crisis. This is a similar pattern to the U.S., where government efforts to repeal the law of gravity prop things up for a bit, but ultimately fail.
Foreclosures fall, but there’s a ‘rising tide’ ahead Banks have speeded up their foreclosure processes and more homes will be repossessed in the future. Les Christie March 15, 2012: 05:39 AM EDT
NEW YORK (CNNMoney) – The number of homes entering foreclosure dropped in February, but a new up-turn may soon be on its way.
The reason? The $26 billion settlement between 5 major banks and state attorneys general over past foreclosure practices.
The agreement clarifies how foreclosures must be handled, and that is expected to enable banks to speed up their processing, putting many new delinquent homeowners into the foreclosure process.
Cases could go forward after sitting in limbo for months — even years — with their delinquent owners squatting on the properties.
The banks involved are Bank of America, JPMorgan Chase, Citibank, Wells Fargo and Ally Financial.
“The pig is starting to move through the python,” said Daren Blomquist, director of marketing for RealtyTrac, which released its foreclosure report for February on Thursday.
Though filings for the month were down 8%, there were indications that the foreclosure pipeline was beginning to unclog.
Foreclosures had dropped much more in January –19%. And 21 states posted increases in filings in February, the most since November 2010. Plus, half of the nation’s 20 largest metro areas reported increases as well, led by Tampa, Fla. (up 64%) and Miami (53%).
“February’s numbers point to a gradually rising foreclosure tide as some of the barriers that have been holding back foreclosures are removed,” said Brandon Moore, CEO of RealtyTrac.
That Florida cities led the charge is a telling sign: The state was one of the states hardest hit by foreclosures, and it was also most affected when banks slowed the foreclosure process after the robo-signing scandal in fall 2010.
Now, however, the banks appear to have resumed pressing the cases.
“They have already adjusted their foreclosure practices to fit the terms of the settlement,” said Blomquist. “We expect that to continue as [the settlement] gets finalized.”
That should also mean a climb in the number of homes repossessed, the final step in the foreclosure process and the biggest personal tragedy for homeowners. In February, repossessions declined 4% to 63,834.
Nevada accumulated the highest rate of total foreclosure filings, including repossessions, as well as notices of default and auction notices. One of every 278 households in Nevada received a foreclosure filing.
California was second (one for every 283 households), Arizona third (one in 312) and Georgia fourth (one in 331).
Riverside/San Bernardino was the hardest hit of the 20 largest metro areas with a filing for every 166 households. Other hot spots included Atlanta (one in 244 households), Phoenix (one in 259) and Miami (one in 264).
Shouldn’t that be “sped?”
Banks have speeded up their foreclosure processes and more homes will be repossessed in the future.
[b][url=http://www.thisnext.com/pick/new/submit/url/
]Compliance it management
[/url][/b]
The death of equities.
http://www.businessweek.com/investor/content/mar2009/pi20090310_263462.htm
(Published August 13th 1979)
Still waiting…
Geo was Toyota. Basically around 1986 Chevy and Toyota partnered to revive the Nova. It was based on the Corolla platform but had Delco radio and Chevy emblems on it, slightly different grille, headlights and taillights. That partnership eventually became the Geo line. Prizms were Corollas so that was that. The XJ Jeep Cherokees 87-01 were bulletproof…if you could get past the constant oil pan leakage that they all suffered from that is. Cutlass Ciera…wow my ex gf back in high school had one of those. It was yellowish beige and an early model like 84 or 85 with like 20k miles. That was probably the most uninteresting car I have ever driven. Steering was so loose and clumsey. Gas pedal was like stepping on an old Mustang clutch. Engine sounded strained and the acceleration was nonexistent.
A new study about increased flood risks mentions the New York City area.
“Flooding from Hurricane Irene last year illustrated how vulnerable coastal places such as Manhattan are with a combination of storms and sea level rise, Strauss said.”
Yes, it sure did, didn’t it? And it stopped raining around 9A instead of noon-1P and the winds were considerably less than predicted.
=========
New figures: More of US at risk to sea level rise
Mar 14, 12:41 PM (ET)
By SETH BORENSTEIN
WASHINGTON (AP) – Nearly 4 million people across the United States, from Los Angeles to much of the East Coast, live in homes more prone to flooding from rising seas fueled by global warming, according to a new method of looking at flood risk published in two scientific papers.
The cities that have the most people living within three feet (one meter) of high tide – the projected sea level rise by the year 2100 made by many scientists and computer models – are in Florida, Louisiana, and New York. New York City, often not thought of as a city prone to flooding, has 141,000 people at risk, which is second only to New Orleans’ 284,000. The two big Southeast Florida counties, Miami-Dade and Broward, have 312,000 people at risk combined.
All told, 3.7 million people live in homes within three feet of high tide. More than 500 US cities have at least 10 percent of the population at increased risk, the studies said.
“Southeast Florida is definitely the highest density of population that’s really on low coastal land that’s really most at risk,” said lead author Ben Strauss, a scientist at Climate Central. Climate Central is a New Jersey-based group of scientists and journalists who do research about climate change.
The studies look at people who live in homes within three feet of high tide, whereas old studies looked just at elevation above sea level, according to work published Thursday in the peer-reviewed journal Environmental Research and an accompanying report by Climate Central. That’s an important distinction because using high tide is more accurate for flooding impacts, said study co-author Jonathan Overpeck, a scientist at the University of Arizona’s Institute of the Environment. And when the new way of looking at risk is factored in, the outlook looks worse, Overpeck said.
“It’s shocking to see how large the impacts could be, particularly in southern Florida and Louisiana, but much of the coastal U.S. will share in the serious pain,” Overpeck said.
And it’s not just residents of coastal areas who will be hurt by this, said Sharlene Leurig, a senior manager for the insurance program at Ceres, a Boston-based investment network. Most coastal areas get flood insurance from the federal program and with more flooding, the program will have to spend more and that will come out of all taxpayers’ wallets, she said.
Sea level has already risen about 8 inches since 1880 because warmer waters expand, Strauss said. In addition to the basic physics of ever-warming water expanding, scientist say hotter climate will cause some melting of glaciers in Greenland and western Antarctica that would then cause seas to rise even more.
Flooding from Hurricane Irene last year illustrated how vulnerable coastal places such as Manhattan are with a combination of storms and sea level rise, Strauss said.
Using data from the latest census, Climate Central also has developed an interactive system that allows people to check their risk by entering a ZIP code.
Sea level rise experts at the U.S. Geological Survey and the National Oceanic Atmospheric Administration who weren’t part of the studies said the results make sense and were done by experts in the field.
“All low elevation places in the many urban areas along the coast will become more vulnerable,” said S. Jeffress Williams, scientist emeritus for the USGS, who wasn’t part of the studies. He pointed to Boston, New York City, Norfolk, Va., New Orleans, Charleston, S.C., Miami and Washington and its Virginia suburbs. “More people and infrastructure will be at increasing risk of flooding.”
—
Online: Climate Central’s report: http://sealevel.climatecentral.org/
http://apnews.excite.com/article/20120314/D9TGCK7G1.html
Excellent post however I was wondering if you could write a litte more on this topic? I’d be very thankful if you could elaborate a little bit further. Thanks!
Housing Industry Takes a Nosedive
http://news.google.com/newspapers?id=_jAaAAAAIBAJ&sjid=oCQEAAAAIBAJ&pg=5047,999804&dq=home+prices&hl=en
January 1980….
Democratic President, Plunge in housing prices, high unemployment, trouble in the commodities markets, tightening of credit, 2 percent economic expansion, election year….
Hell even Afganistan was in the news in 1980…
Lib they turn those B210s into race cars now
Heya! I just wanted to ask if you ever have any issues with hackers? My last blog (wordpress) was hacked and I ended up losing months of hard work due to no back up. Do you have any solutions to protect against hackers?
Deck Repair: Anyone recommend someone in Little Falls/Cedar Grove area. Thanks
“All the data is pointing to a very active spring and summer selling season this year, which is great news for a recovering housing market,” said Margaret Kelly, CEO of RE/MAX, LLC. “As sales numbers have trended higher for several months, we have been anticipating a turnaround in home prices, and it looks like it’s finally starting.”
Another muppet.
V!agra or C!alis should work……
1987 Condo Buyer says:
March 15, 2012 at 7:49 am
Deck Repair: Anyone recommend someone in Little Falls/Cedar Grove area. Thanks
#40, while I try and figure that response out….I am sitting on a bunch of TIPS that have had huge run ups..should I sell now and buy back sometime in future after the bond bubble deflates a bit?
Way to helicopter into your kids banking career.
Comments from a Helicopter Parent at DealBreaker
From the parent of a student who is joining Goldman Sachs full-time after graduation in July 2012.
In his NYT Op-Ed, Greg Smith fails to address whether Goldman Sachs is continuing to deliver superior returns to its clients. Like many, I have sat in corporate America. I have sat with hedge fund managers. I have sat with many, but not all of these people. But the greed culture is endemic. Goldman does not have a monopoly on this. Many hedge fund managers, private equity managers, and corporate executives continue to get paid fat salaries even if their investors and shareholders lose. Frankly I don’t think your coveted clients care too much whether you are a nice person as long as you deliver good returns.
So Goldman may not be the altruistic workplace in which the author once believed, or he might have just found out how tough it can be at the top, as he made his way closer to the top. I joined a bank straight out of undergraduate school and concluded on around day 5 that banking wasn’t for me, so, unlike Mr. Smith, I have not been paid well for my banking efforts ahead of making a series of self-serving altruistic remarks in public. Goldman is really no different today than the way it has always been. I suggest that Mr. Smith joined Goldman from Stanford because the investment banking and consulting jobs paid the best. I would challenge him if he joined Goldman for the kind of altruistic reasons he looks back on with rose tinted glasses.
I hope for Greg Smith’s sake that Goldman has afforded him sufficient wealth to take his altruism to a non-profit organization. I hope he can close his eyes and ears as these organizations discuss how to squeeze money out of willing donors from firms like Goldman who have the funds to support the extraordinary work done by great people who rely on successful people like Smith to continue to fuel the money machine that funds their good work. I would further suggest that it is the “good” people at Goldman who I have met who tend to make many of these significant donations. Mr. Smith is no better than his ex-colleagues and he has no right to judge who are good and who are bad people. How does he know for sure that his beloved Middle Eastern money mangers and his hedge fund buddies are good people, and yet his ex bosses are bad? Who exactly does he think he is to make this judgment? (cont…) (…cont) For my part, I am a liberal, taxpaying, philanthropic entrepreneur, and I abhor the culture that Smith wrote about. But he is delusional if he thinks he is the first to leave for these reasons, though history may show that he was one of the first to attempt to destroy the hand that fed him.
What upsets me the most is that he has created turmoil among young Stanford students and their peers who are graduating this year and joining the firm he just left. They, like Mr. Smith, have been through grueling interviews and internships, and they are lured by the culture and the potential financial rewards. Mr. Smith’s article smacked of a guy trying to offload some guilt in a very damaging way. Damaging… Not just to the institution, but also to the younger people in the firm who probably helped make Smith enough money so that he can offload in public.
I suggest a few hundred dollars spent on a therapist would have been more rewarding for this ” born again” altruist.
I have a daughter who, like Smith, is joining Goldman from Stanford. I have a daughter who, like Smith, won a bronze medal in the Maccabiah games in Israel for distance running. One of my daughters is joining a caring profession and is worried about her earning potential, safe in the knowledge that her dad or her sister can probably help because we make more money. But that, Mr. Smith, does not mean we don’t care. No sir… What it actually means is that my wife has been able to teach kids with special needs her entire life without worrying about income. It means I’ve been able to hire and train hundreds of young people who have gone on to achieve great things. It means that every night I go to bed satisfied that, on balance, I’m a good person.
I hope Mr. Smith can do that too and I hope that one day he’ll realize that he wasn’t a bad person because he chose to work at Goldman or a great person because he chose to leave. I also hope that one day he will realize that though his article was couched in terms that purported to share something important with the world, it really only served to tell us something we know and accept. I trust most people will focus on the fact that 4 major banks just failed liquidity tests, that our economy needs to grow, and that there are people all over the world who need us to be successful so we can help fund their long term infrastructure and short term needs.
Most of all I hope Mr. Smith’s article joins the mountain of self-serving articles that I’ve read and ignored over the years.
And I hope my daughter loves her time at Goldman and loves living in Manhattan. I hope that her mentors aren’t tainted by the kind of self-loathing that drove Mr. Smith to upset the daughter I love and of whom I am so proud. Because make no mistake Mr. Smith, the only reason you got my attention is because this is personal. Good luck, Mr. Smith. I hope you find what you are looking for. I hope you find yourself again.
http://dealbreaker.com/2012/03/jewish-ping-pong-tournament-participant-sixth-year-goldman-sachs-vice-president-is-looking-for-his-next-challenge/#idc-container
List was just basically off how long cars went. I know in college Ford Mavericks and Dodge Darts routinely were up around 200K miles and running. Most boring horrible cars ever. And even now the original Ford Taurus and Second Gen Ford Taurus. Which ran like from 1986 to 2007 tons of them are still on road. They were sold as cheap ard and were handed on to third and fourth owners and are HS Kids cars and train station cars. Amazing I still see many from the 1980s still being drive as daily driver cars. Considering people lease BMWs and after 3 years they turn them back as they are getting “old” to see a 1986 Taurus still being driven to work by the fourth owner after 26 years of daily driving is amazing. Although I am sure as fun as driving in a shopping cart.
March 15, 2012 at 7:07 am
Geo was Toyota. Basically around 1986 Chevy and Toyota partnered to revive the Nova. It was based on the Corolla platform but had Delco radio and Chevy emblems on it, slightly different grille, headlights and taillights. That partnership eventually became the Geo line. Prizms were Corollas so that was that. The XJ Jeep Cherokees 87-01 were bulletproof…if you could get past the constant oil pan leakage that they all suffered from that is. Cutlass Ciera…wow my ex gf back in high school had one of those. It was yellowish beige and an early model like 84 or 85 with like 20k miles. That was probably the most uninteresting car I have ever driven. Steering was so loose and clumsey. Gas pedal was like stepping on an old Mustang clutch. Engine sounded strained and the acceleration was nonexistent.
Guess those folks who piled into munis in Jan, Feb and early March are getting an early spanking. Chasing last years winners is always a bad idea.
Munis Crumble After Hitting Resistance Level
Thursday, March 15, 2012
By Taylor Riggs
Like a bad soufflé, the tax-exempt market collapsed Wednesday under the weight of new issuance and falling Treasury prices.
This is how you get the housing market booming again:
http://1.bp.blogspot.com/-DkDrbQqpP90/Tlu1uR_BLtI/AAAAAAAAALI/WSUxpA8wDeo/s1600/cartoon.gif
Love those old cherokees. As iconic as the wrangler. They should just keep making them. Maybe come out with a diesel or CNG/gasoline dual fuel models.
5.Brass Balls AKA JJ says:
March 14, 2012 at 4:15 pm
Interesting ten longest lasting cars ever made. Funny, odd cars and not a single Toyota car made the list of top ten longest lasting cars.
Olds Cutlass Ciera
(GM A-Bodies) 84-96
Geo Prizm 89-02
Subaru wagons
Rear Wheel Drive Volvos
Ford Crown Victoria
Fiat 500 European version
Mercedes 300D
Honda Accord
BMW 3 series 82-90 models only’
Jeep Cherokee 87-2001
#39 gary I will buy that there may be more people buying, but rising prices??? Based on what, rising incomes??? What a laugh!!! As far as our area I have not seen asking prices this low in years. In alot of places they are at 2001-02 levels. And in some Bergen towns (can’t name them or I get moderated) they are at 1990’s levels, heck one town they are at late 80’s levels!!!
#46 Love mine too, passed it on to one of my kids; still going at 175K miles. Don’t like the new Cherokee, it looks like a sissy car now.
Hey Pain,
I was at the dealership the other day and met another fellow Frontier driver. His truck looked to be in good shape. Turns out he has 250k miles and no interest in a new one.
It’s funny how everytime I meet somebody else who drives one it’s like bragging rights for who has the most miles.
Brian my all time milage record car was a 1963 Dart I bought off original owner who kept records from day one. I made it to 163,000 miles after accidents and rust did it in. Still running fine. Why is 163K miles an accomplishment? Because it made it that far without ever visitng a mechanic. Even more amazing the most expensive repair in 163K miles was $12.99, one aftermarket muffler and two clamps and muffler cement. Cars today an oil change alone on a high end car can run you $500 bucks after they find other bs things to do even if car is new. Those old cars people fixed themselves with aftermarket or used parts $500 in repairs would be like 5 years.
3B [48],
As a buyer, you have to become a borderline terr0rist. The muppet seller and muppet agents have to accept on your terms, not theirs. If the seller is insulted or frustrated, let them go cry in their cup-a-soup and glass of Peils Lager.
I have 145K on my truck now, always did all the work on my truck myself with two exceptions. Once, a mouse nested in my dashboard and chewed through the wiring harness. I had to pay the dealer for 8 hours of labor and even they had to call Nissan USA’s engineering support to get it resolved.
The second time, I wrecked the gears in my rear differential. The truck was still driveable so I had time to shop around. It wasn’t really the truck’s fault, I procrastinated changing the rear diff oil and I drive it like I stole it.
#51 gary: I fully expect to have offer after offer turned down, but so be it. Eventually I will get what I want at my price. I am looking at this purchase as a long term rental,and nothing more.
I dont care if the seller is insulted, quite frankly I never even understood what that means.
3B,
The term “insulted” in the case of a potential real estate transaction is due to the fat, dumb and slow seller muppets blinded by the money signs in their eyes. They fantasize about their dream flat screens and ndream vacations subsidized by an even greater fat, dumb and slow f*ck.
Brian damn I have catching up to do, You haven’t lived until you have experienced the nightmare of changing a number 6 plug on a VQ engine. Brian if you have the carrier bearing drive shaft. I changed my drive shaft to the solid unit from the 2001-2004 KC/CC 4×4. Highly recommend if you are going to keep the truck. No more carrier bearing failures.
I’m actually looking at 1st gen tundras now the 2000-2001 had their frames recalled so you have a high mileage reliable truck with a brand new backbone. Get the same mileage and is sized like a midsized. Hate to get rid of the small truck but she is starting to spring more leaks than the titanic.
#54 gary: Well they ar not getting it from me. The purchase of a house is just a business transaction, nothing more.
Plus there is a guy in San Anotnio that converts them to Toyota diesels turn key. It is pricey but may be owrth it with gas prices
U.S. Economy Needs More Fiscal Stimulus: Christina Romer Defends Keynesian Economics
“Fiscal stimulus absolutely can and does help the economy,” she says, citing “unbiased” academic research and recent history. “Countries that did more stimulus in 2009 recovered more quickly from the downturn than those that did less,” Romer declares.
And, yes, that very much includes the United States — even if growth isn’t what it “should” be and even if President Obama is seemingly getting very little credit for the recovery to date.
It’s astounding that people would grant four more years to the most divisive, arrogant, rudderless and overwhelmed President we’ve ever had.
apple above 600, god bless america.
I’m looking over the RE numbers for February and it appears that the market is still in full slide here in Maryland. Looking at Bowie, MD which is about 30 mins outside of Washington DC.
February-2012 $207,986
February-2011 $254,838
February-2010 $250,143
February-2009 $249,056
February-2008 $348,034
February-2007 $417,619
February-2006 $403,175
It appeared that February had sort of indicated the bottom of the market for a few years there but then it collapsed again this year. Sales are up though this year most likely because the mild weather has got people out and about. I expect that sales will pick up because of the unseasonably warm weather.
It isn’t clear that housing prices have bottomed. It actually appears that they are still on a steep decline. We are down almost 46.8k from last February and down 50.2% from the market top in 2007. With forclosure proceedings being started back up again (MD is a judicial state) it appears that this next year will be a tough one for RE.
Record for me was a Honda Accord 1986 that I donated in 1999. It had 242,000.
Originally listed at 699K back in October and just sold for 630K a few weeks ago. It still says “for sale” on Trulia. It sold for 355K in 1997 which gives it just under 4% appreciation over that period. In 12 to 24 months, the price tag on this will be in the upper 500s which will join it with the long term trend line. Actually, it’ll probably be less due to the decoupled property taxes:
http://www.trulia.com/property/3064859971-530-Bernita-Dr-River-Vale-NJ-07675
#58 gary: sterilized quantitative easing is on the way, Lib may get his multi refi yet!!!
just had a meeting with a guy who’s wife is a Real Estate Agent in BC. Has not closed
a sale in a long time. She’s been at it for many years. I mentioned that looks like
Real Estate is coming back. His comment : The phones are dead, bottom fishers only.
Prices on some of the homes are delusional . Taxes are a killer . He’s a renter .
freedy [64],
Re/Max says spring is very active. I understand there are lines to get into open houses and Sue is researching like crazy. Even the squirrels are smiling!
Wow! This blog looks just like my old one! It’s on a completely different subject but it has pretty much the same layout and design. Excellent choice of colors!
Thanks, But I can’t spend anymore money on it. I already convinced wifey to let me have the Tonneau cover (ya know cuz I gotta put the babies stuff in there and it can’t get wet) and the motorcycle ramp and the remote controlled electric winch so I can load the motorcycle by myself.
My wife is already gunning for a minivan and wants me to sell the truck and take her altima. Altima’s a five speed manual which is cool and all but tough to load the harley into the trunk.
I haven’t touched the spark plugs. It came with the platinum ones and truck is running fine right now. I helped my brother change the plugs on his pathy and after that experience, I think I’ll just fix em’ when they start running funny.
The only thing I hate is that they used a timing belt instead of a chain on those 6 cylnder motors. The old 4 cylinder was completely bulletproof and the motor had a timing chain instead of a belt. Much less prone to failure with high miles.
55.Painhrtz – I ain’t dead yet says:
March 15, 2012 at 9:39 am
Brian damn I have catching up to do, You haven’t lived until you have experienced the nightmare of changing a number 6 plug on a VQ engine. Brian if you have the carrier bearing drive shaft. I changed my drive shaft to the solid unit from the 2001-2004 KC/CC 4×4. Highly recommend if you are going to keep the truck. No more carrier bearing failures.
I’m actually looking at 1st gen tundras now the 2000-2001 had their frames recalled so you have a high mileage reliable truck with a brand new backbone. Get the same mileage and is sized like a midsized. Hate to get rid of the small truck but she is starting to spring more leaks than the titanic.
They’re at the top right now. Where do they go from here? Do you think the Apple TV thing will catch on? I just worry that people’s feelings about technology are very fickle and they’re quick to move on to the next thing. They’re king of the world right now but without Steve Jobs, I just don’t see how they can continue the party. They can’t just keep coming out with new ipads and iphones.
If some other company comes out with the next big thing and they fail to innovate quickly, there’s a risk they end up like Blackberry.
59.Brass Balls AKA JJ says:
March 15, 2012 at 9:46 am
apple above 600, god bless america.
Got mine for 100 bucks from a junkyard 20 bucks for U joints, and installed myself. Wife feels the same way does not understand why I need a truck. Then I bring home yards of mulch. Also told her I could throw the dead deer I shoot on top of her audi like the guy we saw in upstate NY. She let me keep the truck
Another day in hell.
Going to see Timmy tonight….any suggestions?
http://econclubny.com/events.asp
“Another day in hell.”
Doom, how can you say that? Look at the markets! BTFD. Just like in Zimbabwe!
“It’s astounding that people would grant four more years to the most divisive, arrogant, rudderless and overwhelmed President we’ve ever had.”
But Obama still got his NCAA tournament picks completed. So he’s got that going for him.
71 – Ask him if he already has his deal with Goldman inked or will he be waiting until Nov to put pen to paper?
Chifi,
Ask him why he thinks central planning, with its long and varied history of failure, works in money and finance.
Condo (38):
Wood Fashions by John (973) 778-5967.
Thank me after the repairs.
#76…I’ll thank you now as well. I know grim got you a tree name, don’t know if you saw my note on old thread, Orange Valley in Verona area
chi (71)-
Try to get a seat where you can get off an unobstructed head shot.
Thank you.
“Going to see Timmy tonight….any suggestions?”
west (75)-
I’d ask Timmay if his house is still for sale…or, if his last tenant trashed the joint.
“A U.S. banking system that is being held aloft solely by hot air and brazen lies took an ebullient leap toward November 6 yesterday with the release of an Administration-friendly Fed report declaring most banks sufficiently capitalized to weather severe adversity. How severe? It’s hard to tell, since there were only passing references in the New York Times to a still-deflating housing market that has helped make The Great Recession and a plummeting standard of living an entrenched fact of life for most Americans. And nowhere in the front-page article was there even a word about the Fed’s warehousing of trillions of dollars’ worth of mortgage paper once held by the banks – debt paper that might never recover in value. Under the circumstances, far from being healthy as the Fed and its shadowy masters would have us believe, the banks are afflicted with the financial equivalent of stage four cancer. Not that anyone on the Street would care to notice. In fact, with this week’s big stock market gains, Wall Street seems to be literally banking on the ability of the spinmeisters to hide the financial system’s deathly pallor with the skill of Sonny Corleone’s mortician.”
http://www.zerohedge.com/contributed/2012-11-15/how-high-can-fed-pile-manure
Hype [73],
When I listen to the guy give a speech, I cringe. He uses these silly anecdotes and comparisons that add no insight to an issue whatsoever. It always sounds like he’s blaming, finger-pointing or defending something with no direction. I mean, being a narcissist is one thing but being one with zero vision is a whole different spectrum.
I’d ask Timmay how does it feel to be perhaps 50% underwater on his home? He paid $1.602 million for the home in 2004 and he has two loans totaling $1.25 million and pays about $27,000 a year in property taxes. Comps in the area look to be about 800k.
http://www.zillow.com/homedetails/32-Maple-Hill-Dr-Larchmont-NY-10538/33049632_zpid/
Where is JJ is he at his naked yoga class still?
Trying to figure how to trade this market. Even I am suprised by the huge bull run. Heck Bank fo America just broke nine bucks a share and Apple 600. Did not see that happening in first quarter of 2012.
BTW I was at an open house last weekend and it was packed. A 1.2 million dollar home with 30 something couples. But really think about it the January 2009, 2010, 2011 and 2012 Stock grants are way up. Even a kid who started on Wall Street in Spring of 2007 is sitting on a wad of cash that only three years ago he was crying why no raise and bonus mainly in stock. Even someone getting as little as 100K bonus each January in Stock picked up a big nut in just four years. That plus 401Ks up 10% to day. We all refinanced, have our newish cash for clunker cars and locked in on highyielding junk and munis last years. It is a sea of cash, we are flooded with liquidity. I am going down to Atlantis for Spring Break and I will research futher, but even the clerks and garbage men are buying BMWs and going to broadway shows. No wonder inflation is heating up. Once again we are all rich, heck make gas ten dollar a gallon what does it matter.
Juice Box says:
March 15, 2012 at 1:08 pm
Where is JJ is he at his naked yoga class still?
See that picture really got me steamed. Am I just turning into an over-the-hill clown, or was that photo with his grid really tone deaf given the current state of things?
All Hype says:
March 15, 2012 at 12:14 pm
“It’s astounding that people would grant four more years to the most divisive, arrogant, rudderless and overwhelmed President we’ve ever had.”
But Obama still got his NCAA tournament picks completed. So he’s got that going for him.
ChiFi [85],
The guy is a f*cking mope. And, I’m beginning to think that the decline in a once great nation is accelerating because those who can’t see the void are mopes as well. Or more precisely… muppets.
JJ – Not really so flush there Yogi. Vesting period for the stock grants and tap on regular income when exercised. 3 year vest for top execs and for the VP or MD muppet herders even longer.
And if they quit before vest well then will forfeit their entire grant.
Lucky the 2009 grants vested for most a few weeks ago or it would have been worse come tax time. Also some firms in fact a lot of firms now have two year vesting. Under IFRS it is standard to do two year vesting. Those folks cashed out on 2009 and 2010 stock grants already.
Juice Box says:
March 15, 2012 at 1:52 pm
JJ – Not really so flush there Yogi. Vesting period for the stock grants and tap on regular income when exercised. 3 year vest for top execs and for the VP or MD muppet herders even longer.
gary we should really thank that guy for adding another term to the lexicon other than sheeple for the voting block chattle
Painhrtz,
Muppets… what a fabulous term to describe those hypnotized by American Idol and Pizza Hut. Someone here introduced that term yesterday.
Do they still have cheesey crust? Man that stuff is delicious.
90.gary says:
March 15, 2012 at 2:10 pm
Painhrtz,
Muppets… what a fabulous term to describe those hypnotized by American Idol and Pizza Hut. Someone here introduced that term yesterday.
I had a stupid neighbor once who tried (briefly) to sell her place FSBO, thought it was as simple as buying an OPEN HOUSE sign. She didn’t even know her *own* taxes. She even told me, “Can you believe people expect me to know that?”
Only problem I see is that most buyers are so stupid they will fall for the line,not check
taxes, town,etc and buy.
Can they be that stupid ? Yes
re #88 – JPM, GS, C, UBS, BAC, Barclays are all 3 or 4 years min vesting. If you are back office them take take 10k you got divide it by 4 and go ahead and then sit and spin.
I used to own a world record holding 1972 Chevy Vega, 136,000 miles on one engine. It literally burned through a quart of oil every 40 miles, I always had a case of whatever was cheapest in the trunk, back when oil came in cans, not Nancy-boy screw-off plastic bottles. Those stupid oil spouts always leaked so I preferred to punch two holes in the can with a bic pen and just pour. You couldn’t blow that engine up by running it out of oil either; it had an electric fuel pump that was wired through the low oil pressure idiot light on the dash. If the light stayed on for 10 or more seconds it cut the poser to the fuel pump. It was stick shift with manual steering and manual brakes so I could turn it off down big hills to save gas, then just turn the key to the on position, drop it in third or fourth and let the clutch up to restart it at the bottom.
poser = power
tbw [31] – Nope. Geo was many makes, all rebadged.
Metro – Suzuki Swift
Prizm – Toyota Corolla *and* Toyota Sprinter
Spectrum – Isuzu I-Mark
Storm – Isuzu Impulse
Tracker – Suzuki Sidekick
The 1989 Tracker was badged as a Chevy and made in Japan, All the Geo Trackers were the same car, but made in Canada from 1990-97. 1998 Tracker was the same car, but once again badged as a Chevy.
Geo was Toyota.
RE 92:
I think what’s most striking nowdays, and this is an observation that may hold true for northern NJ only, is how hard you have to work and how much money you have to part with on a monthly basis as an average joe just to live next to cheesy crust loving functional retards like your neighbor. Just recently,one had to be pulling down a decent six figure white collar salary and offering b-jobs on the side just to slot yourself in a 50X100 in a blue collar town next to Paterson, without possibly putting your family in financial peril. When they ask you to give so much for beyond starter homes, exclusive of medival tax bills, it doesn’t exactly leave a lot of room for organic up-migration in the market.
The bubble really did a number on buyer demographics; immigrants living 5 to a room in luxury townhomes made of toxic drywall or howmuchamonths paying half a mil to drive past strip clubs from the train station.
RE: Muppets
The only problem with the term is that it denigrates the original Muppets.
Grim,
I’m calling your tree guy today. So far, I’ve called 6 highly touted tree services and received just two calls back. One supposedly came by last night (when I wasn’t home). The other might come by on Sunday. I’ll let you know where I rate your reco. And don’t worry, I’ll tell him you recommended him.
Grim,
Steve must have been really cheap. He can’t even afford to pay his phone bill! Can you check the number you gave me? I get a number no longer in service error when I call it.
A really cold really gain from doing a search online might be you could look at specific specs in the computer contained in the web site, barely seek out the actual component that will pronounces “Technical Details” and in addition “Tech Specs”. Should you check out a ordinary store it ought to take you actually a long time and then dr truth be told there as well as count on sales rep to share with anyone your specialised data within a laptop computer, along with perhaps they wont understand the answer.
juice (82)-
The only comps Geethner should be interested in are the going rates for top bunk and lower bunk beds at Leavenworth.
chi (85)-
I’m pissed that Bojangles picked my Heels. Kiss of death.
stu (99)-
I think grim gave you the number of his meth dealer by accident. :)
“Steve must have been really cheap. He can’t even afford to pay his phone bill! Can you check the number you gave me? I get a number no longer in service error when I call it.”
re # 98 Lib – “Muppets” is probably the kindest monkier he could have cited.
Current daily driver train/home depot/dog/tow vehicle is a 1998 Toyota Tacoma pickup with 164,000 miles. Runs like a champ and the 4 cylinder 2WD is more fuel efficient than my 2010 Wrangler.
Tree cutting –
TreeScapes in Livingston or East Hanover. You should be able to Google for info.
#86 gary
Got alternative?
I already viewed plenty of sites working with such topics, for the most part of the people duplicate other site content, but each time to your site I see new & first-class stuff, nice walking.
gary,
You asked for a new area that you can train into. Start looking at the cloud computing. Amazon playing to win and are throwing cash at it. They will give you your own area and resources free for a year. You can use that to get yourself up the learning curve.
It gives you that little extra in an interview. Its like a calling card bonus in an interview of “Yea, take a look at my cloud if you get a chance.”
http://aws.amazon.com/
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Can anyone recommend an attorney in Bergen County who can handle closing a loan and doing a title search and won’t charge me an arm and a leg? Hudson City would let me refi my ~90K mortgage balance @ 4.75% down to 3.25% for 10 years. If I make the same payment as now, I still pay it off in the same 7 years as now and save about $1700 in interest AFTER closing costs….and gives me about $375/month flexibility if things get tight in certain months — a big plus with hubbie about to be out of work in 2 weeks.
JJ #5: That list is a crock. Not a Dodge Dart in the bunch.
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