From Bloomberg:
Sales of Existing Homes in U.S. Rise as Market Stabilizes
Sales of existing U.S. homes rose in April, driven by broad-based gains in demand that signal the market is stabilizing.
Purchases, tabulated when a contract closes, increased 3.4 percent to a 4.62 million annual rate, figures from the National Association of Realtors showed today in Washington. The median price jumped by the most in six years.
…
“We are making incremental progress,” said Millan Mulraine, a senior U.S. strategist at TD Securities Inc. in New York, who correctly forecast the sales pace. “People are becoming more confident about job prospects and about taking on mortgages. This is all positive for the economy.”
…
The April sales pace was in line with the 4.61 million median forecast in a Bloomberg News survey. Estimates of the 73 economists ranged from 4.47 million to 4.8 million. The prior month’s pace was revised to 4.47 million, from a previously reported 4.48 million. April’s total was just shy of the 4.63 million reached in January that was the highest in almost two years.
…
The median price of an existing home climbed 10 percent to $177,400 from $161,100 in April 2011, today’s report showed. It was the biggest year-to-year gain since January 2006 and reflected a seasonal mix in demand toward bigger houses and fewer distressed sales, Yun said.Families return to the market at this time before the start of a new school year, pushing up demand, he said. Cash transactions, distressed properties and investors accounted for a smaller share of all purchases last month, he said.
Purchases improved in all four regions, led by a 5.1 percent gain in the Northeast.
From CNBC:
Huge Spike in Home Prices Is Not Real
The median price of an existing home that sold in April of this year was $177,400, an increase of just over ten percent from a year ago. That is the biggest price jump since January of 2006. The difference between now and then, though, is the 2006 price jump was real, this latest spike is not.
…
The share of home sales in the $0-250,000 price range made up over 73 percent of all sales in February; that has already dropped to 67 percent in April.If you look at sales by price category, you see the most startling evidence of this shift in what’s selling on the low end out west. Sales of homes $0-100,000 dropped over 26 percent out west in April, but rose 21 percent in the $250-500,000 price range. The national numbers tell the same story.
…
So what does this say about where we really are in terms of home prices nationally? The Realtors still expect overall home prices to rise just 2-3 percent in 2012, which is one of the more bullish predictions. If the banks start releasing more properties onto the market or push more delinquent loans to foreclosure, overall home prices will come down again.
Morning, Mike!
Interesting!
How do you know when a prosecutor’s got nothing? When they start offering immunity deals:
The FBI arrested six people in Queens and on Long Island and another individual in Florida Tuesday, said Peter Donald, a spokesman for the New York FBI. Three other individuals also surrendered to the FBI in New York City, Donald said.
The 10 new arrests are the latest people to be charged criminally in an alleged scheme allowed hundreds of LIRR employees to retire as early as age 50 with combined pension and disability payments that in some cases added up to the salaries they had received while they were working. (linky)
In order to address the massive LIRR fraud as efficiently and effectively as possible and to expedite a resolution that will protect the federal government from ongoing financial harm, the U.S. Attorney’s Office, in partnership with the RRB and the LIRR, today announce a voluntary disclosure and disposition program. Under the program, the U.S. Attorney’s Office will agree not to prosecute or file a civil action against any LIRR retiree who voluntarily comes forward and admits that he or she obtained RRB disability benefits by making false and/or misleading statements to the RRB and agrees to give up his or her right to certain RRB disability benefits. In addition, the RRB will agree not to commence any administrative proceedings seeking the repayment of any disability benefits that are the subject of this program, and the LIRR will agree not to seek forfeiture of LIRR Company Pension Plan(s) benefits.(linky)
Translation: We hope you enjoyed the frog march show; anyone else who comes forward gets a slap on the wrist if they promise not be bad anymore; those of you who don’t AND WE KNOW WHO YOU ARE are really REALLY in trouble now!
The worst offenders are judgement-proof and laughing on the beach in Boca, while the sheeple pay $350/mo. each (plus parking fees) to get to work.
Eh, that news is so 8 hours ago.
From the NAR:
Regionally, existing-home sales in the Northeast rose 5.1 percent to an annual level of 620,000 in April and are 19.2 percent higher than a year ago. The median price in the Northeast was $256,600, up 8.8 percent from April 2011.
Start of a new housing bubble?
Nah, I think really that so many people were doing it that many people thought since it was such a widely exploited loophole you were dumb not to do it. The fact that government looked the other way for so long seemed like they were okay with it.
Anon E. Moose says:
May 22, 2012 at 6:35 pm
How do you know when a prosecutor’s got nothing? When they start offering immunity deals:
Brian [7];
[But everybody else is doing it!]
No doubt. They can’t possibly prosecute everybody, and most of the targets will be dead long before they come in the crosshairs of any prosecutor.
The people will not be prosecuted, in exchange for forfeiting their pension…..THAT is cool….give some credit….
Anon E. Moose says:
May 22, 2012 at 6:35 pm
Translation: We hope you enjoyed the frog march show; anyone else who comes forward gets a slap on the wrist if they promise not be bad anymore; those of you who don’t AND WE KNOW WHO YOU ARE are really REALLY in trouble now!
ChiFi [9];
No, if they cop to it they keep their pension; they only give up the disability spliff, and don’t have to pay anything back.
The deal I’d offer them is ‘regular or extra crispy?’
I heard it was a ‘tiered’ system. If you turn yourself in by July, you forefeit the disability. If you turn yourself in by August, you forefeit the disability and must pay back 50% of the ill gotten gains. After that, the prosecuter goes after you with guns blazing and its jail time.
Anon E. Moose says:
May 23, 2012 at 12:20 am
ChiFi [9];
No, if they cop to it they keep their pension; they only give up the disability spliff, and don’t have to pay anything back.
The deal I’d offer them is ‘regular or extra crispy?’
From US News:
Home Prices Shoot Up—Is It Time To Make Your Move?
Watching the housing market over the past several years has been a bit like watching paint dry, with the most exciting adjectives used to describe it being: flat, slow, and steady.
But today’s existing home sales data could be an inflection point for the housing market. Sales increased more than 3 percent over March numbers, the inventory of homes for sale was down, and potentially the biggest piece of news, median home prices were up. A lot.
On average, median home prices were up more than 10 percent from last year, according to the National Association of Realtors. Even better, gains weren’t concentrated in one region of the country—median and average prices were up in all four regions NAR tracks.
But knowing exactly why prices shot up is a difficult task, according to Patrick Newport, an economist at IHS Global Insight. Prices can rapidly tick up for a lot of reasons, including a sharp pickup in demand or if the proportion of distressed (and many times heavily discounted) property sales significantly drops. An increase in sales of more expensive homes can also drive median and average price readings up.
“Without more information than [what was] contained in the report, it is impossible to tell what drove home prices up last month,” Newport wrote in a note to clients. Still, the report was “surprisingly good” overall, he noted.
Good Morning New Jersey
Wile E. Coyote finally caught the Roadrunner?
Time to buy people. 30 yr mortg rates going down to 1%.
From Bloomberg:
NJ budget shortfall could alter tax cut proposals
New Jersey’s disappointing tax collections through the first 10 months of the fiscal year and the resulting revenue shortage might mean a more modest residential tax cut than state lawmakers had originally proposed.
Democratic Assemblyman Vincent Prieto of Hudson County, who heads the Assembly Budget Committee, told The Associated Press that there’s room for compromise among three rival tax relief plans proposed in conjunction with Gov. Chris Christie’s $32.1 billion budget. However, he said no tax cut should be enacted unless the state has the money to pay for it.
“We have to live within our means,” Prieto said.
The state treasurer and the Legislature’s budget officer are due to give updated revenue forecasts to lawmakers on Wednesday.
Democrats who control the Legislature and the Republican governor have six weeks to make a deal on a budget, which includes a 10 percent across-the-board income tax cut proposed by Christie phased in over four years. The governor’s plan would cost $183 million in the coming fiscal year but far more in the years ahead.
Assembly Democrats have proposed a 20 percent property tax credit for residents earning up to $250,000 on the first $10,000 in property taxes paid — 25 percent for seniors and the disabled. Democratic Senate President Steve Sweeney countered with a hybrid plan that would cut income taxes by 10 percent over four years, but his tax relief would be based on earned income up to $250,000 and property taxes paid up to $10,000.
If I told you Monday you could borrow at a Margin rate of zero percent if you want to buy facebook stock, would you? The rates are meaningless if prices are falling.
Back in 2000-2003 rates were like in a range of 6-8%. But home prices were rising 20% a year. Would you rather borrow at 7% to invest in something growing 20% or borrow at 1% to invest in something growing zero percent.
Neanderthal Economist says:
May 23, 2012 at 6:18 am
Time to buy people. 30 yr mortg rates going down to 1%.
again: moose expresses outrage at fraud conducted by “little people”, however he gives the banks and corporations a pass when they engage in wrongdoing. just an observation moose…one day must attend a GTG with you and see what makes you tick.
Toll Brothers Quarterly Profit Beats Estimates as Sales Gain
http://www.bloomberg.com/news/2012-05-23/toll-brothers-reports-second-quarter-profit-as-home-sales-rise.html
morph (18)-
Easy to see what makes moose tick. He carries water for the banksters.
Why else won’t he disclose what he does for a living?
Purchases of New Houses in U.S. Probably Increased in April
http://www.bloomberg.com/news/2012-05-23/purchases-of-new-houses-in-u-s-probably-increased-in-april.html
“The median price in the Northeast was $256,600, up 8.8 percent from April 2011.”
Any questions?
brain (19)-
Toll is the least sick wildebeest in the herd. They’re all still going to be eaten.
JJ is this the part where you bait me into a dirty joke by comparing fb and housing on an onions to onions basis?
Well Zuckenburg is claiming his financial statements and projections were actually sataire and instead of putting it in the Onion website it ended up on an SEC website. He did twit to the investors last night, “my bad”.
Looks like Bernie Madoff will have a new cell mate soon as Zuckenburg just pulled off biggest swindle ever.
Neanderthal Economist says:
May 23, 2012 at 7:38 am
JJ is this the part where you bait me into a dirty joke by comparing fb and housing on an onions to onions basis?
Veto 22 mix shift ?
The World’s Biggest Hedge Fund Hotel Just Got Bigger – 226 Hedge Funds Owned Apple As Of March 31
http://www.zerohedge.com/news/worlds-biggest-hedge-fund-hotel-just-got-bigger-226-hedge-funds-owned-apple-march-31
You want to tell me Apple isn’t the short of the century here?
Home sales surge in April
http://money.cnn.com/2012/05/22/real_estate/home-sales/index.htm
A lot of news articles highlighting the flawed price gains today.
JJ he dumped 30 m shares.
http://secfilings.nasdaq.com/filingFrameset.asp?FileName=0001209191-12-029812%2Etxt&FilePath=%5C2012%5C05%5C22%5C&CoName=FACEBOOK+INC&FormType=4&RcvdDate=5%2F22%2F2012&pd
Here it comes, the early waves of the prime crisis. Suddenly serious boomer sellers in blue ribbony towns starting to pick up their pace toward the downsizing exit while trying not to wake their neighbors.
The MTA, LIRR, Port Authority – three of the biggest black holes money has ever been thrown into in this country. Inept, corrupt organizations from top to bottom. How bad is it when even a crook like Alan Hevesi years ago showed that the MTA had two sets of books, one public, one private. They figure they have the public by the balls too – everyone has to go to work. The entire fare structure f’g arbitraily depends on how badly they tracked where the $ went and you know there’s plenty of I won’t tell anybody about the scam you’re running if you don’t tell them about mine going on all over those organizations.
“mix shift ?”
Haha yes Mikey, the same mix shift that has brought prices down by 25% since 2006.
JJ,
Once interest rates rise again housing prices are going to accelerate lower. The only thing preventing it is ZIRP and once the bond vigilantes get done tearing apart Europe and Japan higher rates are headed our way.
Neanderthal (22)
Yes, I’ve got some questions that would put meaning to these otherwise unresovled statistics.
Based on what source(s) of information? Is each individually valid or compromised?
Has the distribution of sales held its shape? (Right tailed skewed 2011 looking to repeat in 2012)
What are the higher order statistics (variance of price, variance of volume, crosscorrelation to price and volume, etc) relative to the seasonal distribution of sales?
You don’t have to be born and die on the eve of Haley’s Comet to know better. Nonetheless, Sam Clemens was right – lies, damned lies and statistics.
Neanderthal Economist says:
May 23, 2012 at 7:35 am
“The median price in the Northeast was $256,600, up 8.8 percent from April 2011.”
Any questions?
Zuck. Just remember that statistics doesnt actually ever prove anything, its just a tool for very negative people to try to prove something wrong (reject hypothesis or dont reject, but dont ever accept). Besides 60% of all statistics are made up off the top of someones head.
Yeah! Zillow tells me my second home increase by $24k in last 30 days and my primary by $8k.Tards should be smiling to the bank
#22 The median price in the Northeast was $256,600, up 8.8 percent from April 2011.”
Any questions?
Certainly not in the areas I am looking in in Bergen Co.In fact I would say I don’t think prices have gone up 8.8% anywhere in NJ in the last year.
3B – scored another summer rental this time in Sea Girt 1 block from the sand. Desperate underwater seller, now renting it out. There are tons of homes off market down the shore that aren’t rented and won’t sell. We are not seeing prices increases in Hoboken either, if Hoboken isn’t going up in price I fail to see how the train town are.
What will 400k buy in Ringwood? any suggestions?
Piling it on….
http://mobile.bloomberg.com/news/2012-05-23/facebook-short-interest-equals-4-of-free-float.html
The median price in the Northeast was $256,600, up 8.8 percent from April 2011.
$256,000? In Northern NJ? Does that purchase come with bars on the basement windows and an order of Chicharonnes?
Prices up in the Northeast? Not North Jersey! Yes, every town is different and some are stronger than others, but down is still down. Best towns in the most popular price ranges are flat at best.
Hey kids, look at what you can get for the median price in NJ!! Hurry, interest rates are at historic lows!! And it’s within walking distance to your local bail bondsmen:
http://www.trulia.com/property/3075867887-26-Washington-Ave-Paterson-NJ-07503
Most people I know have been very positive about housing prices, they keep telling me it is the best time to buy. Then they tell me that they are getting killed by high taxes, insurance, and upkeep costs.
Neanderthal Economist 32 Veto I am in the process of buying also but I do not delude myself into thinking prices are on the way up. If it is a good time for you to buy do so just don’t try to justify it useing the numbers that came out. I would go with 30 years boots on the ground assessment first. Yes rates are low but that is a neg for prices down the road. We have parsed this out Ad infinitum whether it be income stagnation, demographics, student loans, or the big enchilada taxes it is not going to happen in any appreciable way. It is four walls and a roof that is consumption I am at peace with that, be at peace it is what it is.
Bloomberg:
BREAKING NEWS: U.S. APRIL NEW-HOME SALES RISE 3.3% To 343,000
#39 Freedy – a McMansion next to a super-fund site.
Purchases of New Homes in U.S. Rose More Than Forecast in April
By Lorraine Woellert – May 23, 2012 10:00 AM ET
http://www.bloomberg.com/news/2012-05-23/purchases-of-new-homes-in-u-s-rose-more-than-forecast-in-april.html
Headline: Romney leads Oblama in Florida
That will change when everyone gets their pony.
Only 33% of respondents believe the economy will get better in the next year, down five points from April and seven points from March. In addition, approval of Obama’s economic handling stands at 43%, down two points from last month, his worst showing on this question since December. And just a third of respondents (33%) think the nation is headed in the right direction, which is consistent with the numbers from our previous NBC/WSJ polls this year.
Solution: more efficient distribution of ponies
freedy 39 Bi-levels , splits, ranches naturally, saw couple contemporary s, no CHC’s if that is what you want but them again the housing stock there mostly consist of the Bi’s & the like. And of course all sorts of funky little lake houses. Check GSMLS dude.
343,000 k and this is a good number.
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FB treading water so far.
Libtard [53],
Hope and Change.
Freedy really frigin high taxes
http://online.wsj.com/article/SB10001424052702304707604577422063685311108.html
Here come the FB lawsuits . Great for the industry
Is ringwood worse than the rest of BC ?
Saw 8-10 k taxes at the upper end of price range per freedy’s 400k.
At least you can get some land ,,,
Anybody liking Ag at a 27 handle?
Expat been looking at that myself, IMHO not yet wait for Europe to get worse.
#@58 freedy: Ringwood is Passaic.
http://www.latimes.com/business/money/la-fi-mo-facebook-suit-20120523,0,1966122.story
WASHINGTON — A class-action lawsuit was filed Wednesday against Facebook Inc., Morgan Stanley & Co., and the other Wall Street banks that underwrote the Facebook’s initial public offering, alleging they misled most shareholders about revenue projections for the social network.
The suit, filed in federal court in New York, alleged that the IPO prospectus and registration statement were “false and misleading” and violated the Securities Act. As a result, many people who bought Facebook stock when it began trading Friday lost money as the price of the shares tumbled in recent days.
Facebook stock was up about 3% in early trading Wednesday. But its price of about $32 a share was well below its initial offering price of $38.
“To have what was perceived as a watershed IPO result in this kind of harm is deeply troubling,” said Darren Robbins, a partner in the Robbins Geller Rudman & Dow law firm, which filed the suit.
Facebook spokesman Andrew Noyes said the company would fight the suit.
“We believe the lawsuit is without merit and will defend ourselves vigorously,” he said.
The complaint focuses on what it says was the failure of the companies to disclose to all investors that Facebook was “experiencing a severe and pronounced reduction in revenue growth due to an increase of users of its Facebook app or website through mobile devices rather than a traditional PC.”
The suit alleges that Facebook had told the lead underwriters of the IPO to reduce their 2012 estimates for the company and that information was “selectively disclosed” to preferred investors and left out of the prospectus and registration statement.
“The notion that the lead underwriters would contemporaneous with a road show and a filing of the registration statement receive information and thereafter materially reduce revenue projections for the very period the IPO occurred is nothing less than shocking,” Robbins said.
“You’re telling one group of folks and giving them access to one thing while people are putting up more than $15 billion worth of cash,” he said. “There’s a reason why you have multiple investigations.”
San Diego-based Robbins Geller, which specializes in securities suits, recovered $7.2 billion for Enron shareholders in 2008 in the largest-ever class-action settlement.
snip
“#57 Here come the FB lawsuits”
Clowns abound. If your investment in a $100 Billion chat forum doesn’t work out on day one and your first impetus is to sue, please do us all a favor and have a nice tall refreshing glass of anti-freeze.
The complaint focuses on what it says was the failure of the companies to disclose to all investors that Facebook was “experiencing a severe and pronounced reduction in revenue growth due to an increase of users of its Facebook app or website through mobile devices rather than a traditional PC.”
Dance, my little chubby muppets!! Dance for Papa!!
Lawsuits for stock losses really? We really are a population of dolts. I may have not learned much in my 39.5 years about finance but learned enough to know that a 38 handle IPO is doomed to go down when the company is an internet company whose main stream of revenue is ads and licensing games. Plus they are fighting an uphill battle to ensure constant revenue across platforms. Seriously is it that hard to research anymore?
#@58 freedy: Ringwood is Passaic.
Thank you ,I lost my head .
How could anyone leave Bergen County
http://www.foxbusiness.com/technology/2012/05/18/facebook-overnight-millionaires-start-luxurious-spending-spree/
Ahh, the real beneficiaries of the Facebook IPO step forward.
Gary, Nom, Clot, et al,, dig into your pockets, this man needs your money more than you do:
http://www.huffingtonpost.com/2012/05/18/desmond-hatchett-30-kids_n_1528850.html
[61] expat,
Looking very hard. But mindful of Mike’s comments (which is why I ain’t buying euros for future vacations yet).
Rising rates in 1999 and 2000 did not hurt housing prices. Plus lots of buyers are cash buyers anyhow.
Normally rising rates initially helps housing sales and prices. People rush to lock in before rates rise further, however it is short lived and after a few months rising rates slow housing.
Dissident HEHEHE says:
May 23, 2012 at 7:56 am
JJ,
Once interest rates rise again housing prices are going to accelerate lower. The only thing preventing it is ZIRP and once the bond vigilantes get done tearing apart Europe and Japan higher rates are headed our way.
Now this is interesting . . . .
http://news.yahoo.com/anti-racists-attack-white-heritage-group-family-restaurant-003220721–abc-news-topstories.html
Looks like the end of the MF Global Corzine investigation.
U.S. Attorney Patrick Fitzgerald stepping down June 30
http://www.chicagotribune.com/news/local/breaking/chi-fitzgerald-stepping-down-june-30-20120523,0,180241.story
good news for Montvale:
http://www.northjersey.com/news/151437785_DeMarrais__Wegmans_coming_to_North_Jersey.html
NNJ could use a few more of these; great store and excellent beer selection. I can always find my Young’s Oatmeal Stout when I go to one.
freedy [68],
LMAO!! That’s beautiful!
Captain Cheapo needs to weigh in on this. . .
http://finance.yahoo.com/news/forced-fly-solo-even-family-180525867.html
For my part, I ask the gate agent to reconfigure the seats (at no charge of course), and if they don’t, I let it ride. The person on the plane will gladly switch rather than make a cross country flight sitting next to my 3YO.
Read in another forum:
I will also say that so many buyers are frustrated over the whole process of buying that when they find something remotely close to their expectations for the price, all other blemishes are diminished because they simply want to end the ordeal not realizing the impact of that decision.
Nom [77];
What they don’t talk about is that the $25 asile/window seat surcharge applies on narrow-body regionals that are 2-2 configurations with a single center aisle, if not 2-1. In the latter case I wonder if the guy in the 1 seat has to pay twice because he’s getting a window AND an aisle?
And in other news, I completed a refinance of two income properties yesterday. Both were at 4 5/8% leaving me with almost an extra grand of cash flow each month. The properties were difficult to appraise because of lack of comparable sales, so the appraisers low-balled the values to mid 90’s prices. Right, at those prices I’ll buy multis up to my last penny. As a result of the low-ball numbers I fell into HARP-2 financing which meant it took 6 (yes, six) months to close. Well, there were subordination issues, blah, blah. I am not underwater on any of them, not close.
Thank You, Obama, you have been very, very kind to me.
#72 JJ: Rising rates may not have harmed prices than, because for around 200-250K, you could get a nice house in a good town, with taxes around 4 to 6k a year.
Plus a very strong economy etc. Now the same POS cape which was 450-500K at peak is around 350-375K with 12k year in property taxes, and a lousy economy. And even with 3.75 mtg money, contrary to yet again this years housing cheer leading, the demand still appears to be underwhelming at least form where I am looking,
Now tell me where prices will be if in 2 or 3 years, 30 year mtg money is at around 7%?
Oh and I am looking to buy, and I still think prices are going down.
Nom,
Usually the early bird gets the worm. In this case, the bird that is the biggest pain in the arse at the ticket counter and plays his half a million miles loyalty card right, gets what others are paying for at no cost.
Sadly, we travel so infrequently these days that we don’t even maintain the credit cards that give you the flying perks as it’s not even worth the $95 annual fee to us. Though, when we do fly, we have gotten extremely adept at packing a valises worth of clothes into our TravelPro rollaways.
Air travel has become incredibly low class anyway. I often will make the trip out the JFK to get on VirginAmerica or JetBlue just to avoid the clusterfcuk of the major hub and spoke airlines with their overbooking, frequent maintenance delays, etc.
High rates are a blessing for first time buyers. Go back in time 30 years. Mortgage rates were 16% which means home prices were dirt cheap. Also it ment your downpayment money was sitting in an FDIC account earning 13% interest and growing rapidly. You held off to buy till you could a afford at least 50% down as who could afford a mortgage at that high rates, then low and behold as rates began to fall you refinanced, home prices rose and since you were forced to out down a lot you had signicant equity.
Compare to 2009, hard to save for home as money in bank is paying zero, since hard to save and mortgage rates are cheap might as well buy with only 5% down. Well houses continued to fall in value and your 5% was wiped out. You cant refinance as it mortgage rates have only falling a little and you have no equity.
Sounds like 1982 was a better deal, couples saved and saved for huge downpayments and then refinanced at 1/2 original interest
3B says:
May 23, 2012 at 1:52 pm
#72 JJ: Rising rates may not have harmed prices than, because for around 200-250K, you could get a nice house in a good town, with taxes around 4 to 6k a year.
Plus a very strong economy etc. Now the same POS cape which was 450-500K at peak is around 350-375K with 12k year in property taxes, and a lousy economy. And even with 3.75 mtg money, contrary to yet again this years housing cheer leading, the demand still appears to be underwhelming at least form where I am looking,
Now tell me where prices will be if in 2 or 3 years, 30 year mtg money is at around 7%?
Oh and I am looking to buy, and I still think prices are going down.
Haven’t been on a plane since 2003 and don’t miss it a bit. My company occasionally tries to send me on short notice to Sweden or Belgium but I’ve left my passport conveniently expired. Now I’m thinking about renewing for myself and family while TPTB still allow it.
If you really want to experience flying at its worst, I dare anyone here to fly Spirit.
Are you a scaredy of flying. Belgium and Sweeden are great, if you have a chance to go for free on company dime do it. I did 16 flights in the first 90 days after 9/11 back when no one was flying so I am not scared of it. But honestly flying for work is great, amazing, it is flying with wife and kids in coach that is a killer. Give me a business class to Europe or a nice Jetblue flight to a convention in Florida and I am in Heaven. Last Convention was a 12:30Pm sunday flight and watched the Jet game whole way there and got to hotel in time for one hour in the pool and then happy hour and drinks. Oh what a joy and none of it my own money.
The Original NJ Expat says:
May 23, 2012 at 2:11 pm
Haven’t been on a plane since 2003 and don’t miss it a bit. My company occasionally tries to send me on short notice to Sweden or Belgium but I’ve left my passport conveniently expired. Now I’m thinking about renewing for myself and family while TPTB still allow it.
As some here may remember, I had opined that PPACA was a thinly-veiled attempt to nudge the american public into accepting single payer by making health care worse under the guise of making it better. My theory is that the left went along with the imperfections knowing that eventually the public would scream bloody murder after rates skyrocketed and employers dropped coverage. In would step the benevolent government with single payer.
I just came across this gem from a group pushing for single payer:
“As an advocate of a single-payer, Medicare-for-All solution to the healthcare crisis, the Labor Campaign for Single Payer never was under any illusions that PPACA could be anything more than a stepping stone on the path to healthcare justice. At the time of its passage, we predicted that, “The healthcare system that will emerge from this legislation is unstable and financially unsustainable. It is headed for crisis, perhaps even before it is fully implemented in 2017.”‘
http://laborforsinglepayer.org/index.php?option=com_content&view=article&id=138%3Appaca-turns-two-will-it-survive
And the link to the predictions makes clear that they were prepared to exploit the fallout long before PPACA was ever felt.
Wow, just wow. Now, who called BS on me for this? Got your crow right here.
SILICON VALLEY (The Borowitz Report) – A new social network is about to alter the playing field of the social media world, and it’s called PhoneBook.
According to its creators, who invented the network in their dorm room at Berkeley, PhoneBook is the game-changer that will leave Facebook, Twitter and even the much anticipated Google Buzz in a cloud of dust.
“With PhoneBook, you have a book that has a list of all your friends in the city, plus everyone else who lives there,” says Danny Fruber, one of PhoneBook’s creators.
“When you want to chat with a friend, you look them up in PhoneBook, and find their unique PhoneBook number,” Fruber explains. “Then you enter that number into your phone and it connects you directly to them.”
Another breakout utility of PhoneBook allows the user to arrange face-to-face meetings with his or her friends at restaurants, bars, and other “places,” as Fruber calls them.
“You will be sitting right across from your friend and seeing them in 3-D,” he said. “It’s like Skype, only without the headset.”
PhoneBook will enable friends to play many games as well, such as charades, cards, and a game Fruber believes will be a breakout: Farm.
“In Farm, you have an actual farm where you raise real crops and livestock,” he says. “It’s hard work, but it’s more fun than Mafia, where you actually get killed.”
[80] xolepa.
Shouldn’t you be thanking Helicopter Ben?
As for thanking Obama, I am too. He has turned the IRS loose on individuals, and generated so much trouble for businesses that provide benefits, that almost all my billing is directly related to his actions.
[88] expat
What’s a phonebook?
{kidding, ROFLMAO}
The Original NJ Expat says:
May 23, 2012 at 2:11 pm
Haven’t been on a plane since 2003 and don’t miss it a bit. My company occasionally tries to send me on short notice to Sweden or Belgium but I’ve left my passport conveniently expired. Now I’m thinking about renewing for myself and family while TPTB still allow it.
I drove an M5 250 Kph to BMW’s HQ yesterday. Today, took from Audi HQ an R8 spyder up to 220 with the top down, restrained by traffic. Then let Audi teach me some high speed driving in a S4 and S5 at their driving center. Fun. Much more fun than watching their recent stock performances.
Sorry Mr.Comrade. My problem is that you do not acknowledge the Big Business Med/Pharma/Insurance complex behind it. Plainly looking at it -It was a guaranteed profit megawatt plant for Big Insurance (Cigna/Aetna/United/ The For-Profits & the few Non-Profit Blues left), as well as for Big Pharma.
In countries where insurance companies run the show like Switzerland, Germany & Singapore – those companies are non-profits and regulated. Yes, the fight is big – because is either Medicare dies or Big For-Profit Insurance dies.
You do not have to be Timmy from South Park to see it was unsustainable from the on-set and would crash & burn eventually. It follows the same protocol business plan of the present Military Industrial Complex now – “just give me more money for Iraq/Afpak/Iran, Martians, etc”. Or The TBTF with let’s bet on steroid ridden flea & bed bugs.
I saw last night in PBS – Niall Fergusson’s show – One of his claim Western world killer apps -was competition. Well what competition we have now with all the big boys being Oligarchies, you name the industry and they are run my a handful of conglomerates like in the Trust & syndicates pre-Teddy Roosevelt days. It’s all part of the Boomer Locust generation way of doing things, so until they are gone from power positions we are screwed.
93
disconnect healthcare from insurance which was created by government at the urging of BIG _____
93
I’m not THAT old… and it wasn’t always the way it is now, the connection of insurance and healthcare was almost non-existent a few decades ago.
Doctor’s making house calls costed a mere pittance a while ago, even in inflation adjusted figures.
Joyce – Because up until the 80’s Health Insurance were limited to Mutuals and Non-profits and heavily regulated because they had some anti-trust exceptions -like Major League Baseball.
Reagan deregulated them, allowing the for-profit, along with the continual anti-trust exceptions. So US Healthcare that was a non-profit. became for profit and then merged with Aetna.
The problem is Medicare and For-profit can not co-exist with each other. Either one or the other has to die. As an example the Reps want to make Medicare a contracting wholesaler for insurance.
While we’re on the subject of flying….what do you guys think of these cheap@ss regionals that are becoming more prevalent? I have family in NC and have been jumping through hoops when I go there to avoid anything labeled “Colgan Air” or “ExpressJet” or any of the other tin box regionals that masquerade as major airlines. Now that I know that their pilots make less than an assistant manager at Hollister, as we found out after the Buffalo crash, I’m leery of them. So I end up either driving to Chapel Hill from Charlotte or taking a silly 1-hour flight from Charlotte to RDU — just to avoid them. But by the time you allow an hour to EWR, 2 hours of security theatre and waiting around, 5 hours of flying and layover and 1/2 hour from the airport; or 1-1/2 hours of flying and 2-1/2 hour drive from Charlotte, you might as well drive from here, except that a 2001 Civic with 88,000 miles on it may be no better than a Colgan Air tin can if it breaks down on Route 85 in East Deliverance, VA.
RE: Airlines/flying
not-so-useless tip: 4 out of 5 times the isle arm rest – on all sorts of jets – can be swung vertically from its locked horizontal position, instantly creating first class like hip room for the isle seat, regardless of whether the middle seat is occupied. You can do this by feeling for a hole on the underside of the arm rest (at around elbow height), poking it with your pinky finger and pulling on the armrest. This is also useful when seats two or three need to get up, as you can just pivot instead of getting up. I know the A320’s have them (Jetblue), as do the larger United flights, though the 2-1 regional I just used did not.
Regarding healthcare: When I was first out of college, my employer-paid insurance paid 80% after a deductible of maybe $100. I was making around $12,000 in those days, which even in the late 1970’s was not a lot of money if you were paying rent and commuting to NYC every day. A doctor visit was maybe $85-$100. A few doctors made you pay up front, but most would bill insurance and then bill you for the difference. And even at that pay rate, I was able to get my checkups and ladyparts things. If I had gotten cancer or some such, I’d have an out of pocket max of maybe $500 and everything else was covered $100% — and there was none of this “usual and customary” crap that is about 1/10 of the billed amount.
It all started with HMOs, which started to ruin health care with their tiny reimbursements, which caused prices to get jacked up by doctors for patients who weren’t in HMOs. Then as prices went up, there was more call for “maintenance” (checkups, gyno exams, tetanus shots every 10 years, etc.) to be covered because the cost of EVERYTHING went up. And now here we are, where doctor reimbursements are low, deductibles are high, and a “health savings plan” is sold as a wonderful thing.
And insurance company CEOs are making out like bandits for being nothing but MIDDLEMEN.
#83 JJ: Yeah that is what I said, so when rates get back up to around 7%, prices will fall even more. It is always the underlying price that matters, not the financing mechanism. You cannot refinance the purchase price.
Stu – that’s the best rate I’ve seen too. Until I mention it’s an owner-occupied multi. Then it shoots up to 3.125.
250 – Is that $4K including the escrows? I’m seeing closing costs of about $2K + the RE tax & insurance escrows.
92. 250k says:
May 22, 2012 at 2:40 pm
Anyone get good refinance deals in the past few weeks? I am seeing great rates but closing costs up to $4000. Anyone?
94. Libtard in the City says:
May 22, 2012 at 2:47 pm
250K…Best I’ve seen on a 15 is 2.75. I’m waiting for the 2.5!
Jill I highly double a good looking chick like you back in the 70s and 80s every had to pay to have someone check out your “ladyparts”
Healthinsurance to me is a non-issue. I have never lost my job and have never been admitted to a hospital. However, it still makes me nervous that my health is tied to my job and as I age I am more likely to get ill and require an expensive procedure. Most jobs toss you out the door by 55, too young for medicare, to old to get a job with good benefits and the odds of getting ill are pretty high between 55-65
Jill says:
May 23, 2012 at 3:12 pm
Regarding healthcare: When I was first out of college, my employer-paid insurance paid 80% after a deductible of maybe $100. I was making around $12,000 in those days, which even in the late 1970′s was not a lot of money if you were paying rent and commuting to NYC every day. A doctor visit was maybe $85-$100. A few doctors made you pay up front, but most would bill insurance and then bill you for the difference. And even at that pay rate, I was able to get my checkups and ladyparts things. If I had gotten cancer or some such, I’d have an out of pocket max of maybe $500 and everything else was covered $100% — and there was none of this “usual and customary” crap that is about 1/10 of the billed amount.
How To Permanently Delete Your Facebook Account
by Steve Krause on NOVEMBER 10, 2009 in HOW-TO
Over the last 12 months, Facebook has seen its share of controversy in regard to account privacy and its terms of service. It’s hard to say what sparked all the excitement: Rapid growth of the service? Parents growing awareness of the site and how their kids were using it? The media? Or perhaps it deserved it based on its unethical business practices, privacy policy or terms of service updates?
Whatever the reason, it’s obvious some no longer trust the social giant. I seem to keep hearing the same question over and over again:
“Is it possible to delete my facebook account?”
and
“I managed to deactivate it so it’s deleted right?”.
You would think the answer would be fairly straightforward. But it took a lot of digging to come up with the answers surrounding account and profile deactivation — and full-blown account removal from the service. After doing the research and walking through thedeceptive complex process, it is apparent that Facebook has done its very best to prevent its customers from leaving its service, which would of course limit the amount of customer data being scrubbed from its service. Personally, I really feel Facebook has definitely crossed the border of unethical behavior on this. After all, Facebook doesn’t actually provide an interface to easily delete your account and end your agreement with them on the use of your personal data — this per section 2.1 in its terms of service.
Sharing Your Content and Information – (updated 7/14/2011)
You own all of the content and information you post on Facebook, and you can control how it is shared through your privacy and application settings. In addition:
For content that is covered by intellectual property rights, like photos and videos (“IP content”), you specifically give us the following permission, subject to your privacy and application settings: you grant us a non-exclusive, transferable, sub-licensable, royalty-free, worldwide license to use any IP content that you post on or in connection with Facebook (“IP License”). This IP License ends when you delete your IP content or your account unless your content has been shared with others, and they have not deleted it.
When you delete IP content, it is deleted in a manner similar to emptying the recycle bin on a computer. However, you understand that removed content may persist in backup copies for a reasonable period of time (but will not be available to others).
When you use an application, your content and information is shared with the application. We require applications to respect your privacy, and your agreement with that application will control how the application can use, store, and transfer that content and information. (To learn more about Platform, read our Privacy Policy and Platform Page.)
When you publish content or information using the “everyone” setting, it means that you are allowing everyone, including people off of Facebook, to access and use that information, and to associate it with you (i.e., your name and profile picture).
We always appreciate your feedback or other suggestions about Facebook, but you understand that we may use them without any obligation to compensate you for them (just as you have no obligation to offer them).
Here’s how to permanently delete your account in Facebook. First I’ll explain Facebook Account Deactivation as this is the only option offered in its User Interface.
Deactivating Your Facebook Account: the same as Account Deletion?
Users can deactivate their Facebook account from the user interface without too much trouble. But Facebook will ask you to confirm your decisionby displaying one of your friends and telling you “Your Friend will miss you.”
I’m pretty sure it took at least a few days for “P-Diddy” to get over losing me as a FaceBook friend.
Once you confirm you want to deactivate your account, be sure to read the fine print! It clearly outlines that account deactivation is not the same as deleting your account / profile. By deactivating your Facebook account, you’re merely disabling your ID however all your data remains on Facebook servers.
What surprised me was the fact that even after the account is deactivated, you can still be tagged in photos, invited to events, etc.. With this in mind, be sure to opt out of emails if that’s the path you’re going down.
So in short, deactivating your Facebook account is pretty much worthless. It’s Facebook’s deceptive and effective practice of luring you into a false sense of security by making you think you’ve removed your account, personal data and license to your IP (intellectual property) from the service when actually you haven’t. The unethical part about this is even while your account is deactivated, the license granted to Facebook in section 2.1 of its terms…
Section 2.1 of the Facebook Terms of Service
…photos and videos (“IP content”), you specifically give us the following permission, subject to your privacy and application settings: you grant us a non-exclusive, transferable, sub-licensable, royalty-free, worldwide license to use any IP content that you post on or in connection with Facebook (“IP License”). This IP License ends when you delete your IP content or your account unless your content has been shared with others, and they have not deleted it.
…is still in effect. Groovy huh? Oh, and it gets better. To re-activate your account, all you need to do is sign-in to Facebook or use your Facebook ID to sign-in to another service (or post a comment on some sites) and everything is right back where you left it as if you never left – pictures, friends, posts, your IP….
So I think everyone will agree with me in that the Facebook Account / Profile deactivation process is worthless if your goal is to delete your account and remove your data or IP from the service. Seriously.. The “real” good news is there actually IS a way to delete your account and IP!
How to Really Delete Your Facebook Account
Deep in the belly of the Facebook help center you can find the URL to permanently delete your Facebook account.
Before I show you the link however please read the following carefully:
Remember that deleting your Facebook means that all of the information you have entered will be deleted. Photos, account friends, messages, status updates etc.. All traces of you will be nuked on Facebook (At least we can assume so…). With that in mind, please move forward reading all large and fine print.
So let’s get started on permanently deleting your profile.
Visit http://www.facebook.com/help/contact…delete_account, ClickSubmit
You’ll be asked to confirm. Typein your password and solve the CAPTCHA. Click Okay to continue.
All done, sort of…
Even after confirming the deletion of your account, Facebook will only deactivate it, leaving you 14 days to log back in and cancel the entire deletion. Sigh.
I know what you’re thinking: “Really? Fourteen days to delete my data?”
I completed the scavenger hunt and found the DELETE link.
I saw the BIG RED TEXT warning me my account would be permanently deleted.
I entered my password.
I helped translate a book for GOOGLE by solving the Captcha puzzle.
Lastly, I clicked the Okay button
What part of delete my account don’t you understand Facebook? Perhaps you thought I was joking? Or drunk? But if that’s the case, why the five steps above? Yes Regis, that’s my final answer! Delete my account!
Anyway, I think it’s pretty obvious by now Facebook doesn’t consider you a customer from a customer service point-of-view. Facebook is in the data business — more specifically, your data and it will go to great lengths to keep that data including your employment, school history, friends, network, photos, tagged face etc… which it managed to collect from you over the years in its social web. The 14 day grace period is Facebook’s last-ditch attempt to somehow lure you back into the service either accidentally or from some subconscious Facebook addiction in order to abort the account cancellation process.
With this in mind, here’s a few tips to make sure you don’t “accidentally” log in to Facebook thus aborting your account nuke process.
Clear your browser cache and delete all cookies – Firefox / Internet Explorer / Secure Wipe w/CCleaner
Delete the Facebook Application on your iPhone (don’t worry, it’s free if you ever want to add it again…)
Avoid clicking the Facebook Share button on any websites you read such as the button below (sorry, couldn’t resist )
5/5/2010 UPDATE: Reader UXP made a good point in his comment below reminding me that Facebook is also used by many people for single sign on for commenting on blogs or logging into websites (like digg.com for instance). Another example is Facebook chat clients like Pidgin or Adium. Use these services, post a comment on a blog using Facebook Connect or login to a site using your Facebook account during your 14 day waiting period and your FB account will be reactivated. Ouch… that one is gonna hurt if your only Creds on DIGG.com or other sites is your Facebook account…
[93] not me
Well yeah. They were assurwd profit for as long as it lasts. They are fully aware of the shortfalls and if insurers get shut down, they book profits and lay off entire cities. Pharma and services can ration or refuse altogether (sorry obama, you aren’t paying us enough to stay open). There is ample precedent for this.
And I’m gonna sue for dilution and appropriation of likeness. Cease and desist!
99 & 102 JJ & Jill (went up a hill?) – Healthcare – I believe there are pockets being lined on the backs of those with the good health plans. Just the past couple weeks, my wife’s doctors are milking the sh*t out of our Cadillac health plan. She goes in for annual lady parts check, mammogram, etc. Gets a letter and a call that something doesn’t look quite right, come back for a more targeted mammogram. Not a mass, just some discoloration I think they told my wife. Goes back for second mammogram and still nothing definite, told all looks good, but have to schedule an MRI. Has the MRI yesterday and they tell her everything looks fine. But they still want her to go back for a third Mammogram, I think. Now she’s pissed because she’s starting realize what I know happens all the time; if they see you have a super Cadillac plan they’ll drive that Caddy around the track as many times as they can. I think there’s also a secret playbook that lets them know when they hit certain age milestones they can order way more tests. I saw that 10 & 8 years ago when our daughters were born. First time around she’s ~38 and everything runs smooth, 8lbs 3 oz girl. Second time around she’s just 40 and they try scaring the hell out of her every which way ordering all kinds of extra tests and we (mostly me) just said no when they wanted to push her into doing an amnio. I even found out some stuff that I called the Dr’s on (they were using her for a data point in research they were doing, seemed like curve-fitting to me). They were pissed and evasive when I confronted them about their in-progress research that I found on the internet. Switched doctors, normal 8lb 15 oz girl. Boston has some great doctors, but the flip side is that they’re so close to the top of the class that many of them have their own career agendas that doesn’t include what’s best for you.
96
Using just your post:
They were given anti-trust exemptions by the .gov and then had to be heavily regulated… then took away the regulations, oh but they left int tact the anti-trust exemptions… so they didn’t fully deregulate did they? Get rid of them too and see what happens.
This is similar to saying the finance industry was deregulated. Yes it was, but not completely. Left in tact was the ability to counterfiet via FRL, the FDIC, the FED, and on and on.
counterfeit*
Jill [97];
http://www.aopa.org/letsgoflying/
Gary , I just spoke with my sister and told her to keep an eye out for your resume at the yahoo address. Bill will get that directly. Fill me in if anything good happens. You never know. I just know that your in computers/IT and so is my brother in law.
Is Toronto having a housing bubble? http://www.bbc.co.uk/news/magazine-18155405 nice to see the old days again.
Mikey i think now is time to buy. I dont think prices are going up. I just posted the quote about rising prices as a gary parody.
OK Vets , find a new target yet?
Im in attorney review now. Lets hope the uber doesnt find too much next week.
Nothing to add today other than I am shocked at how many homes have moved in the last couple of weeks. I think 60% of homes in my trulia search are either sold or pending. Many have been on the market 8 -12 months but suddenly moving like crazy. Not looking until fall but it will be interesting for sure.
I do have another thing to add – go Devils! @sswhooping underway at MSG. 3-0 in the first.
Urber by mine next week also, go figure.
The funny thing about my purchase is that i m not motivated primarily by price, which is what i thought my first purchase would be. Its about a 20% discount from 2006, not a spectacular deal. But we have a need and desire and i can no longer stand the concept of renting so we are pulling trigger. Throigh this priocess i understand my fellow sheeple much better.
BBQ
Just purchased a Charbroil 6 burner; 68,000 BTU; with searering option at Boscov’s, $299.00 assembled. Door buster special. Used it several times already, works fine.
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