From HousingWire:
You won’t believe the 10 markets where price gains were strongest
Home price rose a mere 1% month-over-month in August, according to the latest reports from Trulia.
Nationally, the month-over-month increase in asking home prices rose to 1.0% in August, up a bit from 0.7% in July.
Asking prices rose 7.8% year-over-year, slower than one year ago, in August 2013, when asking prices were up 9.9% year-over-year. At the local level, asking prices rose year-over-year in 96 of the 100 largest U.S. metros.
According to Trulia’s Price Monitor and Rent Monitor, the South is rising again.
Seven of the 10 U.S. metros with the largest year-over-year price increases are in the South, including the top four: Miami, Florida; Birmingham, Alabama; Lakeland-Winter Haven, Florida and West Palm Beach, Florida.
These 10 metros include markets where prices are now rising much faster than one year ago and markets where prices are slowing down.
…
“The housing markets with the slowest price increases (and, in four metros, decreases) are clustered in the Northeast, such as in upstate New York,” said Jed Kolko, chief economist for Trulia. “Why is that? These markets had a mild housing bubble and bust last decade and therefore are now having only a slight price recovery; they’ve also had relatively weak job growth recently.”Kolko reports that foreclosures have shaped where and when home prices have recovered. Foreclosed homes tend to depress neighboring home values and sell at a discount.
“But once most of the foreclosures in a market are sold, then overall inventory tightens – especially at the low end – giving home prices a boost. In states with a non-judicial foreclosure process, such as California, Michigan, and Texas, foreclosures don’t have to go through the courts,” Kolko said.
…
“But now, even judicial states are seeing the light at the end of the foreclosure tunnel and are getting their own price boost. In August 2014, asking prices on for-sale homes excluding foreclosures were up 6.9% year-over-year in metros in judicial states, only slightly behind the 7.8% increase in metros in non-judicial states. In contrast, in August 2013, the year-over-year price gain was 14.1% in non-judicial states and just 5.1% in judicial states,” he said.
NY and Philly Metros make the top 25 rental increase list. NY-NJ in at 13th place with a year over year rent increase of 7%, bringing the median rent of a 2 bedroom up to $3,500. Philly in at a staggering 6th place, with a 9.2% increase in median rent, 2br prices in Philly up to $1,600.
From the Record:
New N.J. bond disclosure warns of revenue shortfall, impact of casino closures
After scrambling earlier this year to close a $1 billion budget shortfall, New Jersey is now warning investors that the state could already be facing new revenue problems.
In a bond disclosure made public Tuesday afternoon, state officials said tax collections likely fell about $275 million short of the amount expected when the last fiscal year ended June 30.
The disclosure also warned the state may not meet casino revenue targets for the current fiscal year amid recent closings in Atlantic City. That could bring on spending cuts or other adjustments to keep the budget balanced as required by the state constitution.
Though final auditing of the last fiscal year is still underway, the disclosure from the state Department of Treasury warned the state may not have reached its goal of maintaining a $300 million surplus fund.
“The state, at this time, continues to work toward, but cannot give assurances of, realizing a final undesignated fund balance of $300 million,” the disclosure said.
Treasury representatives did not immediately respond to a request for comment Tuesday.
The disclosure from Treasury comes just days after Fitch Ratings lowered New Jersey’s credit rating for a second time this year, citing reduced funding for the state pension system that Governor Christie approved in the wake of the $1 billion budget shortfall announced earlier this year.
The downgrade, announced Friday, also cited “the absence of long-term, fiscally sustainable solutions” to close recent budget gaps, “overly optimistic revenue forecasts” and a state economy that “continues to lag that of the nation.”
Nice seeing some numbers show a trend we’ve been seeing for the past few months. Employee resignations is running high, and refilling those positions is getting more challenging. Recession made it easy for HR to sit back as workers kept their heads down and any ol’ job posting brought in a slew of qualified candidates, no matter how poor the wage was. Workers under these kinds of positions eager to quit, now having gained a few years of real experience, new skills, etc. Loyalty? That’s so 1982.
http://www.marketwatch.com/story/workers-quit-at-fastest-monthly-pace-in-six-years-2014-09-09?dist=beforebell
On the heels of a disappointing jobs report last week, data released Tuesday signaled that workers were recently the most confident that they’ve been in six years, a report that may reassure markets about labor-market trends.
In its monthly snapshot of churn in the jobs market, the U.S. Labor Department reported that July saw the most workers quit since mid-2008. This healthy trend hints that employees are becoming increasingly confident in their career prospects and the greater economy, willing to trade some stability for new opportunities.
About 2.52 million workers quit their jobs in July — the most since June 2008 — up from 2.31 million a year earlier, the government reported.
Anecdote about a small employer in North Jersey who apologized for no raises every year since the recession started, despite reducing staff, and pushing employees to work harder and longer (I won’t even get into rising health care costs). Employee told me about the last company meeting, where some blithering idiot in management, as part of his Q&A response, made a comment to the entire company along the lines of “well there are no jobs anywhere, you should be glad to have a job, where are you going to go?”
Now everyone is leaving for new jobs, and the company is hiring shit labor to replace them, meaning the existing workers are picking up even more slack, and it’s putting pressure on the few remaining tenured employees to jump.
Similar experience up in the Northeast, working with a company that had a good sized development team in the area, except now the growing medical technology field in town is picking off developers at a rate of one or two a month. They can’t compete with the wages the new employers are paying, and worse, the new employers are loving the talent, they say they are better than anyone currently in the field with experience.
Christie Report Card:
Budget: F
Economic Growth: F
Pension Reform: F-
Sandy Recovery: D
That averages to an F, slightly better than Corzine and McGreevy before him who managed the overall F- score, lol!
[5] condo
Not his fault. Managing NJ is like trying to steer the Titanic after it hit the iceberg.
As I said before he was elected, “we are having an election. The loser gets to be governor.”
Looks like we won’t be hearing from ISIS anymore. Barry got tough no more tweets allowed.
3,4- Wage inflation is not going to happen, right fast eddie. Don’t pay any attention, just an idiot posting over here. Nothing lasts forever, not the good times, nor the bad times. The faster you realize that everything is cycle, the faster you will want to make that house purchase before it’s too late.
3,4- Wage inflation is never going to happen. Only an idiot would think that.
Gne Simmons is right rock is dead.
http://fortune.com/2014/09/09/is-u2-going-freemium-with-apple-a-sign-of-whats-to-come/
Michael did you even read the posts yesterday? Burbs are dead, low household formation means no need for a house!
Self ies and Tinder foreva!
grim – from yesterday:
Some pretty swank apartments above Cookman as well, once it got dark enough to snoop (hardly snooping), plenty of well decorated pads looking to show off (big windows, open curtains etc).
My wife calls it spying. Her head is on a swivel when we drive or walk through nice neighborhoods after dark.
I’ll say my opinion was changed, wildly, we might find ourselves heading down to Asbury for dinner once in a while. Look, it ain’t Millburn, it’s not trying to be, and neither is the village. Kudos to everyone invested down there. My wife walked back from Cookman alone at night, I don’t know that I would like her being on the South end of Bloomfield Ave at night.
To clarify, I take it you’re talking about the South end of Bloomfield Ave in Montclair, right? The real South end of Bloomfield Ave is…well, we all know what it is.
[9] Michael uses the word “idiot” in the majority of his posts, but usually he is referring to himself.
3,4- Wage inflation is never going to happen. Only an idiot would think that.
Correct, south end of Bloomfield Ave in Montclair.
Rents are rising and inventory is scarce. One thing I found interesting reading paper today was AirBNB in Manhattan tons of rentals are doing it.
One lady said she rented an expensive two bedroom in Manhattan and her husband divorced her, then got a roomate who sucked. She then could not afford rent and with Landlord Permission she AirBnBs the spare bedroom and loves doing it, makes her rent easy to pay, landlord gets his paycheck.
the Mayor argues this is causing rents to rise for folks not in doing this families etc. Think about it this lady can “squat” in an expensive rental she cant afford. Landlord rather than lowering rent or losing money between tenants lets her AirBnB. Most likely lady is getting 50 to 150% of rent paid each month through guests. Legally she is there when she rents and the roomate law protects her anyhow, plus it is a rental building.
I ended up not renting my place from the June 16 to Sept 6 period it was empty this summer as I had some kooky folk and I was busy and used it a few weekends but I rented it for one week. Which technically in NYS you are suposed to do monthly rentals.The one week rental paid my 10 weeks of main, 10 weeks of property tax and ten weeks of insurance while place was empty. I dont know how they are going to stop it. Even by me folks are doing it in their regular homes. Folks come to weddings, bat mitz, you name it.
Remember the pretty single girl who does air bnb in Long Beach well she charges same as a dumpy single room in a hotel. If I was a 29 years old single guy on a business trip. You rather stay with her by bars and beach with tips where to go and her stopping by as host for drinks or a dumpty hotel.
Even more amazing companies allow direct payment to this. They just enter company credit card on line and boom book a room and get reimbursed.
6
Not his fault? He didn’t even try. As the head of the executive branch, just veto and make them repass bills with huge majorities. Also, refuse to enforce/implement huge swaths of previously passed unconstitutional bills forcing them to sue you. There’s plenty he could have done. Bring NJ govt to a standstill is 100x better then letting it continue to grow.
(and I didn’t even have to mention his “giveaways”)
If I was going to go bigger in Boston, I would definitely rent. Right now I can get $2k for our place in rent(right now, anyway), so as soon as I pay my mortgage off (some time in the next 1-3 years), I could easily be tempted to rent something bigger. I have a neighbor who has a $2600 nut on his unit in my building and they are renting a 3BR townhouse for $2000 one town over in Newton where they have much better schools (overall) than Boston. So his tenants live in the place that costs him $2600 and they pay $2000 in rent and he uses that to pay his family’s rent 3 miles away. The nut works out the same and he has an extra BR and an extra bath and his dyslexic son is in a better school.
That’s what I thought. I hear you get too close to that next town and they have these gangs with mini baseball bats;-)
Correct, south end of Bloomfield Ave in Montclair.
Idiot, it’s a bit premature for your victory lap. I would not equate demand for specific tech skills with wage inflation.
[13] If you read between the lines, Michael’s best advice yet:
Michael says:
September 10, 2014 at 8:20 am
3,4- Wage inflation is not going to happen, right fast eddie.Don’t pay any attention, just an idiot posting over here.Nothing lasts forever, not the good times, nor the bad times. The faster you realize that everything is cycle, the faster you will want to make that house purchase before it’s too late.Michael,
If wages increase and every other cost continues to outpace it, who claims victory?
If wages increase and every other cost continues to outpace it, who claims victory?
Both sides claim victory. That’s how arguments in economics work.
For the last decade, the progressives have been talking about the death of the suburbs as everyone returns to the walkable city. From my perch, it appears the city is coming to the burbs. Back in the bubbly 2000s, single family homes were being built over every remaining farm in North Jersey. Today, it’s endless condos. Montclair has already started construction on its second set of upper middle class tenements after the leaky Siena. Across from the Bloomfield Train Station in Bloomfield, the condo project there is huge and really too dense. Sadly, the parking garage, that was meant mostly to support the condos is already filling up with park and ride commuters. I’ve been told they will get the boot once the condos open. Then there’s the Parkway lofts in the ghetto area of Bloomfield. Everywhere you look in North Jersey, these wood framed apartments over a poured cement ground floor are popping up. There’s one on Morris Avenue in Union too going up over existing store fronts.
My opinion is that this whole walkable city thing is a complete farce. Everyone who buys one of these condo units buys two (occasionally they buy one) parking spots. You simply can’t live anywhere accept in the most dense cities (of which there might be ten of them) without an automobile. Especially in the Northeast where there is variable weather.
And no one I know (and most have hipster tendencies) has returned to the city. Actually, almost everyone I know who has moved in the last five years has gone more rural.
The walkable city and return to the urban haven is and was a sales pitch. It’s a ruse. The gold coast and the Hoboken “scene” is all marketing. You want to send your kid to Hoboken or Edgewater HS? Or, maybe Dickinson or Ferris! LOL!
Grim would you please unmoderate my comment? Thanks.
[23] & [24] Yet the real cities are filling up (and you may be right that there are only 10) and are at new peak pricing and new peak rents. That’s not anecdotal, that’s provable fact. So someone must be moving in, right? I’ll grant you it’s a slow tide to turn as the expansion to the suburbs, exurbs, and wastelands beyond has been going in one direction for entire lives but I think it’s already turned. I think most of you are close enough in that it’s not being felt strongly yet in better parts of Essex, Passaic, Bergen, etc. but take a look at Rockaway in Morris County and points further West. Those areas look to be going pretty shabby, pretty quickly measured in both appearance and price at the same time that Manhattan is getting shinier and shinier.
But I can’t think of a single person (honestly) who is going more urban? Is it possible our major cities are filling up with tourists buying permanent second residences?
Growing up in Hudson County my whole life just makes me chuckle when I see the prices realized for rentals/purchases. It’s a tragedy and a comedy. If you can’t afford Manhattan, then forget it.
Lib – It would be very telling to see where the eventual occupiers of these units are moving from. My own anecdotal experience with my circle of (mostly middle-aged OG hipsters) is that everyone is either standing pat or has bought a new home in Boston. We know one family who lived in a 1BR condo with 3 kids for many years and the new peak pricing we’re at allowed them to finally sell with a profit, and buy a SFH; but it’s still in our same section of Boston.
Montclair has already started construction on its second set of upper middle class tenements after the leaky Siena. Across from the Bloomfield Train Station in Bloomfield, the condo project there is huge and really too dense.
Gary (25)-
Love to see Emerson and Scout on the first day of skool at Ferris.
We ain’t in Kansas no more, Toto.
I think Expat at #27 is correct. I live near nyc but have family out in western NJ and anecdotally I can tell you this trend is true. Montclair and other similar “suburbs” are probably not good comparisons. Its less than 15 miles to the city. These “suburbs” would be within city limits of say an Austin, TX. And Lib as you mentioned in #23, people aren’t necessarily moving out of Montclair to the city but over time have tried to make Montclair more like the city. This trend will continue.
Maybe they could hire Bebo in an exchange program?
Meat,
Ferris has been a f.ucking zoo for 50 years. Same goes for Dickinson which looks like a penitentiary from the Turnpike extension. Snyder and Lincoln are in a whole other world. A young co-worker of mine from Western PA is paying $1800 to live in a piece of shit above a bar in Hoboken. What a swindle.
To jump into Manhattan is a pretty big jump late, especially if your kids are in good schools. I don’t mean to say that established families are going to move from Bloomfield to Secaucus, rather that if you are in Manhattan you’re more likely than ever to stay and if you have many millions at retirement you might sell your BC tax nightmare and move in. Most of the movement is going to come from, IMO, displaced poor being pushed out by kids not leaving when they start families if they can afford to stay.
Our Boston friends you might say are double locked in as every family we know has 1 or more kids in Boston Latin with prospects of getting most/all of their kids in. Even kids who didn’t get into Boston Latin got into the number 2 exam school, which is still pretty good so that’s why they’re staying. Low taxes plus private school environment for free? Who wouldn’t stay? Boston is actually struggling to keep Boston Latin at 50% kids coming from public schools as the other half are doing K-6 in private schools.
But I can’t think of a single person (honestly) who is going more urban? Is it possible our major cities are filling up with tourists buying permanent second residences?
#28..without a doubt the world’s “rich” are buying into cities such as London and NY, etc. It was reported about 30-40% of apartments in key neighborhoods in NYC were essentially vacant year round. The rich buy an apartment/condo in multiple cities across the global as a “storer of value”…$10 million in NYC, $1om in London, $10 in Hong Kong, etc and I am pretty diversified…..
#36..by vacant I mean owned but not occupied
“A large area on the East Side bounded by Fifth and Park Avenues and East 49th and 70th Streets sees about 30 percent of more than 5,000 apartments routinely vacant more than 10 months a year, according to the Census Bureau’s latest American Community Survey. In one section of that stretch, between East 53rd and 59th Streets, more than 50 percent of units are occupied for two months or less, a higher proportion than in holiday resort communities like Aspen Colo. and Palm Beach, Fla..”
http://therealdeal.com/blog/2011/07/07/manhattan-neighborhoods-seem-empty-thanks-to-increase-in-investor-purchases/
–
Manhattan if you really look hard and find a older coop from an estate in a building with limited services that does not allow subletting or is not fannie/freddie approved for mortgages it really is not bad.
You only need a one bedroom in retirement. Get rid of cars and house in surburbs. I have two aunts who live in City. One has lived in cities since 1940s in same rent stabalized apt and the other sold her house in the bronx and bought a one bedroom doorman unit back in 1993 for cash after her husband died. Neither have cars, and heat, hot water, gas included in their rent or maint.
Ones husband was a cop the other a garabage man and niether never worked. They get city pensions with free medical.
re: # 3 8 – and high end apartments in NYC in that neighborhood now go $5,000 per square foot. Simply insane.
Barry is going to start a war now.
http://www.nbcnewyork.com/investigations/President-Obama-Rejected-Trump-Golf-Course-Westchester-274423351.html
NEW YORK (MarketWatch) — Standard and Poor’s Ratings Services lowered its assessment of the state of New Jersey’s credit on Wednesday for the second time in five months, citing unbalanced budgets, a growing pension burden, and a large debt load. The rating on the state’s general obligation bonds backed by New Jersey’s full taxing power was lowered to A from A+. In April, S&P cut the rating to A+ from AA-. “The downgrade reflects our view that New Jersey will face increased long-term pressures in managing its long-term liabilities,” said credit analyst John Sugden in a statement.
LeSean McCoy, the $45-million Philadelphia Eagles running back, left a 20-cent tip on a $61.56 check on Monday at the PYT restaurant in Philadelphia. The restaurant posted a photo of the tip online with the comment: “That is a .03% tip. New record!” McCoy says he was unhappy with the service, but the owner posted another statement on Facebook, saying he was given “impeccable” service. “And while I’d like to apologize to Mr McCoy, I cannot in good conscience do so. I stand by my actions one hundred percent,” he wrote.
[43] I wonder if the restaurant is in trouble for posting his signature. I know you can find sigs on titles, mortgages online, but there might be an agreement with AmEx about privacy of
cardmembersmembers, etc. I wonder if LaSean’s disatisfaction came from being waited on by a male server.You can tell it’s AmEx because there are only 3 digits crossed out, not 4.
JJ..what is the deal with Accounting Internships, if you know? My son, a junior, hears conflicting info, some say intern after Junior year, others say you need to wait till Summer after Senior and you have a plan for extra 30 credits or Masters….thx
Subject: moving back to the cities at older ages
Give me back the Newark of the 50’s and I’ll think about it. Yes, I do remember some of Newark back then and it was, for the most part, a great place to live. Unfortunately, the demographics and taxes have changed drastically.
I do live an idyllic life here in Hunterdon (work from home, on the end of a long cul-de-sac, surrounded by hundreds of acres of permanently preserved land, blah, blah) but I will someday soon pack my bags and move. The property taxes here can be put to better use – in my pocket.
House and land are too big now. I feel sorry for the complainers out there on this forum. Especially the ones that think NENJ is the place to be. Last time I worked in Wall Street, circa 2002, the train ride took a total of 1 hour 20 minutes each way. No parking fees. No hassles. 7 minute ride to train station. Was home by about 6:30. How much worse is that then the typical BC commute?
Oh, well. Rant off. Back to checking on the dogs and listening to those damn coyotes in the woods.
millennials….born 1982-2004?
As of today they are 10-32 years old……urban living and rentals are going through the roof? really? let me guess….in about 10 years, the suburbs will begin to take over again as the new trend…..call it a lucky guess…..why? oh I don’t know……
The Original NJ ExPat says:
September 10, 2014 at 11:02 am
[23] & [24] Yet the real cities are filling up (and you may be right that there are only 10) and are at new peak pricing and new peak rents. That’s not anecdotal, that’s provable fact. So someone must be moving in, right? I’ll grant you it’s a slow tide to turn as the expansion to the suburbs, exurbs, and wastelands beyond has been going in one direction for entire lives but I think it’s already turned. I think most of you are close enough in that it’s not being felt strongly yet in better parts of Essex, Passaic, Bergen, etc. but take a look at Rockaway in Morris County and points further West. Those areas look to be going pretty shabby, pretty quickly measured in both appearance and price at the same time that Manhattan is getting shinier and shinier.
Old Reliable is going to the grave. Head gasket. Anyone want a 95 Civic Hatchback cheap?
Subject: moving back to the cities at older ages
I really loved the large property we had in Belle Mead backed up to open space but am glad we sold in 2005. Key West’s open waters and much lower taxes have been a fine substitute.
Funny Grant Thorton used to be in my building and intern are mainly asian.
You need a masters anyhow to do accounting. SJU and Baruch are pumping out in their CIA/CPA/MBA progam some pertty qualified folks.
I spoke there like two years ago and a few girls (asian) were just about to graduate five year program. They were graduating with an undergraduate degree accounting a MBA in Finance and already passed all four parts of Certified Internal Audit Exam and Certified Professional Auditor Exam all at the age of 22. However, most need work visas or wanted relocation packages. If a local kid who had place to live at home at credentials he or she would have no need for an internship
Little know fact lots of folks shoot for internal audit after school in these programs. Some firms lend you out to big four firm to lower fees while they so annual audit and as long as the person you are working with is a CPA they can sign off on credits, it takes a little longer but a lot less stress, get in at a Goldman or Morgan and looks good. Some still go to big four afterwards but they can then start as a manager.
1987 Condo says:
September 10, 2014 at 1:27 pm
JJ..what is the deal with Accounting Internships, if you know? My son, a junior, hears conflicting info, some say intern after Junior year, others say you need to wait till Summer after Senior and you have a plan for extra 30 credits or Masters….thx
HunterDoom where lyme disease lurks in your own backyard and you drive 20K a year running errands and pay 18k in property taxes, livin the dream
njescapee says:
September 10, 2014 at 2:00 pm
Subject: moving back to the cities at older ages
I really loved the large property we had in Belle Mead backed up to open space but am glad we sold in 2005. Key West’s open waters and much lower taxes have been a fine substitute.
chicagofinance [47],
Huh? Can you translate your post into English? :) lol.
chifi – Bring back cheap oil and rising wages, maybe it will. Be my guest buying up 4BR colonials and sitting on them for a decade. We complain here about the $10-$15K taxes bills on $600K priced houses needing updating in BC, tell me the future of $300K houses with $10K tax bills needing even more updates in Morris County.
OTOH, if energy costs continue to rise while wages continue to stagnate…it’ll be back to stickball in the streets and sitting on the front stoop and knowing everyone who lives on your block.
As of today they are 10-32 years old……urban living and rentals are going through the roof? really? let me guess….in about 10 years, the suburbs will begin to take over again as the new trend…..call it a lucky guess…..why? oh I don’t know……
10K is like less than a bi-weekly paycheck for most folk.
The Original NJ ExPat says:
September 10, 2014 at 2:48 pm
chifi – Bring back cheap oil and rising wages, maybe it will. Be my guest buying up 4BR colonials and sitting on them for a decade. We complain here about the $10-$15K taxes bills on $600K priced houses needing updating in BC, tell me the future of $300K houses with $10K tax bills needing even more updates in Morris County.
10K is like less than a bi-weekly paycheck for most folk.
Right. Corporate cash flow is tremendous right now and it isn’t because they’re laying out 200K plus payrolls for muppet folk.
Self driving cars? Go long Sussex, Warren, and Hunterdon. I can kill an hour or two watching TV and napping on my commute in.
Lyme disease. Yes, my wife, some friends and a dog or two have had it. Some more than once. No big deal. Standard operating procedure here. One of things I enjoy most is I can piss in my back yard without a care. Sometimes in the front yard, early in the morning.
And remember, those taxes do keep the riff-raff out.
Took the (sniff, sniff) train in today. Total suckage again. Did get a seat though.
We used to piss on the stoop in the Bronx all the time too, nothing to brag about.
But where do you wipe you hands after you crap? Hopefully not on your shih-tzu like my gardeners did.
Xolepa says:
September 10, 2014 at 3:26 pm
Lyme disease. Yes, my wife, some friends and a dog or two have had it. Some more than once. No big deal. Standard operating procedure here. One of things I enjoy most is I can piss in my back yard without a care. Sometimes in the front yard, early in the morning.
And remember, those taxes do keep the riff-raff out.
It seems that JJ always gets perturbed by my jests. Honestly, I just don’t want to be anywhere near where he lives and he may think the same of me. However, his concern is all about the dollar. he still doesn’t get it. i.e., some of us do work from home. Some of us just drive around collecting cash from their investments (next door neighbor). Others work harder, some less. We started this discussion several years ago. Where in NJ would you rather live, if you had the choice?
I like that. It should be part of the mortgage qualification formula. Your PII (like PITI with out the T) should be based on your debt/income ratio but you don’t qualify unless you can pay your annual property taxes with one bi-weekly paycheck’s worth of net pay. I’m not even sure you should be allowed to count more than one income or job; you have to pay your annual property taxes with net pay from one job’s bi-weekly net pay.
10K is like less than a bi-weekly paycheck for most folk.
I had a neighbor when I lived in Wayne who did that. He used to leave around 5AM every morning to empty gum ball machines at supermarkets of their pennies and restock them with more gum. Does your neighbor drive a blue van, pay his bills with money orders so the checks don’t bounce, and yell at is wife for not buying deli at the supermarket? “Every time! Every time!! Every time!!! Don’t even think about what’s in the fridge, ALWAYS BUY DELI!”
Some of us just drive around collecting cash from their investments (next door neighbor).
Just got my first spam email from NJ Monthly for downloading the schools report.
Weekend Buzz: Crafts, Seafood, and Wine
Isn’t that from the Wizard of Oz?
Crafts, Seafood, and Wine – Oh My!
Crafts, Seafood, and Wine – Oh My!
Crafts, Seafood, and Wine – Oh My!
http://us1.campaign-archive1.com/?u=d099990b7bb4250bae40b683b&id=2c6e4257fd&e=dec9f70e48
We used to piss in between cars of the 7 on the elevated part down onto Roosevelt Avenue…….on a windy day the piss blew back and someone opened the door between cars and the piss went into the train…..
JJ says:
September 10, 2014 at 3:34 pm
We used to piss on the stoop in the Bronx all the time too, nothing to brag about.
But where do you wipe you hands after you crap? Hopefully not on your shih-tzu like my gardeners did.
An ex-girlfriend of mine I met in college said she had sex on the 7 late at night…..she was impressed with herself, but I kind of considered her a skank after that admission….
chicagofinance says:
September 10, 2014 at 5:15 pm
We used to piss in between cars of the 7 on the elevated part down onto Roosevelt Avenue…….on a windy day the piss blew back and someone opened the door between cars and the piss went into the train…..
JJ says:
September 10, 2014 at 3:34 pm
We used to piss on the stoop in the Bronx all the time too, nothing to brag about.
But where do you wipe you hands after you crap? Hopefully not on your shih-tzu like my gardeners did.
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I know that girl chifi! Very, very short. No teeth. Flat head you could rest your beer on. I thought she was lying about college because I thought they discriminated against dwarves.
An ex-girlfriend of mine I met in college said she had sex on the 7 late at night…..she was impressed with herself, but I kind of considered her a skank after that admission….
Actually she was not demented…..just latina….she ended up going to Columbia for journalism and now she is a reporter for the Chicago Tribune……
The Original NJ ExPat says:
September 10, 2014 at 5:42 pm
I know that girl chifi! Very, very short. No teeth. Flat head you could rest your beer on. I thought she was lying about college because I thought they discriminated against dwarves.
An ex-girlfriend of mine I met in college said she had sex on the 7 late at night…..she was impressed with herself, but I kind of considered her a skank after that admission….
It’s not swindle. It’s the market value. Just because you are too cheap to pay, doesn’t mean others don’t find value in it.
Fast Eddie says:
September 10, 2014 at 11:28 am
Meat,
Ferris has been a f.ucking zoo for 50 years. Same goes for Dickinson which looks like a penitentiary from the Turnpike extension. Snyder and Lincoln are in a whole other world. A young co-worker of mine from Western PA is paying $1800 to live in a piece of shit above a bar in Hoboken. What a swindle.
The guy sucks. He is all talk. He almost destroyed the education system, the backbone of this state, to get some votes. Education is what attracts and keeps the wealthy living in our state. Take away that, and the state will indeed be screwed.
1987 Condo says:
September 10, 2014 at 7:15 am
Christie Report Card:
Budget: F
Economic Growth: F
Pension Reform: F-
Sandy Recovery: D
That averages to an F, slightly better than Corzine and McGreevy before him who managed the overall F- score, lol!
Are you getting worried that the idiot is starting to look more and more right about wage inflation? The evidence just keeps mounting to the point it’s getting hard to ignore. When I’m right in a few years, just do me a favor and say your sorry, that you were wrong and that the idiot is right. Of course, you will never do this because it will make you the idiot.
The Original NJ ExPat says:
September 10, 2014 at 8:35 am
[9] Michael uses the word “idiot” in the majority of his posts, but usually he is referring to himself.
3,4- Wage inflation is never going to happen. Only an idiot would think that.
You guys claimed that wages were flat for over 20 years. You claimed that nothing will change, and that wages will remain flat. I laugh at that. Do you understand how crazy that sounds. Prices will continue to rise, but wages will remain flat? I think a freshman in high school could understand that wage inflation is inevitable based on never ending inflation to prices.
Fast Eddie says:
September 10, 2014 at 10:32 am
Michael,
If wages increase and every other cost continues to outpace it, who claims victory?
Well said! Obviously, I agree based on the multiple times I called this movement a farce. Noting more than a fad based on the economic conditions.
Libturd in the City says:
September 10, 2014 at 10:43 am
For the last decade, the progressives have been talking about the death of the suburbs as everyone returns to the walkable city. From my perch, it appears the city is coming to the burbs. Back in the bubbly 2000s, single family homes were being built over every remaining farm in North Jersey. Today, it’s endless condos. Montclair has already started construction on its second set of upper middle class tenements after the leaky Siena. Across from the Bloomfield Train Station in Bloomfield, the condo project there is huge and really too dense. Sadly, the parking garage, that was meant mostly to support the condos is already filling up with park and ride commuters. I’ve been told they will get the boot once the condos open. Then there’s the Parkway lofts in the ghetto area of Bloomfield. Everywhere you look in North Jersey, these wood framed apartments over a poured cement ground floor are popping up. There’s one on Morris Avenue in Union too going up over existing store fronts.
My opinion is that this whole walkable city thing is a complete farce. Everyone who buys one of these condo units buys two (occasionally they buy one) parking spots. You simply can’t live anywhere accept in the most dense cities (of which there might be ten of them) without an automobile. Especially in the Northeast where there is variable weather.
Totally agree. If people understand cycles and human thought, is not your prediction obvious?
chicagofinance says:
September 10, 2014 at 1:50 pm
millennials….born 1982-2004?
As of today they are 10-32 years old……urban living and rentals are going through the roof? really? let me guess….in about 10 years, the suburbs will begin to take over again as the new trend…..call it a lucky guess…..why? oh I don’t know……
You do understand that alternative energy will be making big gains in upcoming years, hence, why it has been the best sector to invest in stocks for the past year. Energy will indeed be made affordable in the next 10-20 years. You can count on it.
“OTOH, if energy costs continue to rise while wages continue to stagnate…it’ll be back to stickball in the streets and sitting on the front stoop and knowing everyone who lives on your block.”
Every single person that took out a loan before the wage inflation hit(I’m in that group, can’t wait for my properties to go up and my loan values taken care of by inflation). The biggest winners will be the govts. They will have more revenue. They will kick the crap out if their debt.
Fast Eddie says:
September 10, 2014 at 10:32 am
Michael,
If wages increase and every other cost continues to outpace it, who claims victory?
Obviously, Michael is suffering from a brain bleed.
wishing and hoping and praying
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