From the NYT:
For Many Millenials, Children Are Out of Reach
Millennials are taking their time procreating. According to C.D.C. data, preliminary 2013 birthrates show that the birth rates for teenagers declined 10 percent in 2013, to a historic low of 26.6 births per 1,000 women. The birth rate also declined for women in their 20s to a record low, while births to women in their 30s and 40s rose. This is not because millennials are stuck in a state of perpetual adolescence and unwilling to make the sacrifice that children entail. On the contrary: putting off children is one of the most financially responsible decisions that a young person can make.
Raising children has never been cheap. But one cost that has skyrocketed over the past couple decades is child care. After adjusting for inflation, the Census Bureau found that families spent $84 per week on child care in 1985, compared with $143 per week in 2011. The cost of child care, like most other costs, is harder to manage for the poor. Families below the poverty level spent about 30 percent of their income on child care, compared with about 8 percent for families above the poverty level. Unsurprisingly, families with young children spent a higher proportion of their income on child care — about 11 percent.
More than 20 percent of millennials with only a high school education are living in poverty, and research has shown that persistent poverty has an impact on young children’s cognitive development. College-educated millennials are swimming in loan debt — two-thirds of them have debt, and the average debt is $27,000 (up from a $15,000 average debt 20 years ago). Millennials, like most groups of millions of people, are rational actors. They just don’t want to have kids they can’t afford.
From Slate:
People Don’t Hate Millennials
I know, I know. Millennials have been written to death. But I’m going to make like the millennial I am and say it’s my duty, as the voice of my generation (a voice of a generation?), to proclaim: You don’t hate millennials; you hate the 21st century.
From CNBC:
Hey, millennials: It’s time to buy your first home!
Calling all millennials: The future of the housing market is resting on your shoulders. The good news is there’s never been a better time to purchase your first home.
…
If millennials are going to buy in — and buy homes — the conversation about their motivation for purchasing a home needs to shift. This isn’t about the American Dream or the accumulation of things. This is about putting their money to work for them. It’s about growing wealth. It’s about having more money to pay off student loan debt.
Millennials will get that.
Then we can tell them why there has never been a better time to purchase their first home. We can tell them that home prices are rising and that fixed interest rates are at record lows. They’ll understand why we say that owning a home will put their money to work for them.
From the NYT:
Millennials Are Redefining What Adulthood Means
Millennials are carving their own unique path into adulthood. Having come of age during the Great Recession, they have struggled to gain their financial footing. The crash spurred many millennials to continue their education, and as a result they are on track to becoming the best-educated cohort of young adults in American history. Fully a third of older millennials (ages 25 to 32) had at least a bachelor’s degree in 2013. They will need that education if they’re going to succeed in today’s economy. Our research shows that millennials who don’t have a college degree are paying a much stiffer penalty in terms of low wages and high unemployment than previous generations did.
Millennials are much slower to marry than their parents’ generation. The sluggish economy is surely a contributing factor, but changing values about marriage may also play a role. Millennials are much less likely than older generations to say marriage should be a priority for society. While many are simply delaying marriage, our analysis projects that a quarter of millennials will still have never married by the time they reach middle age. That would be the highest share in modern history.
Despite the economic challenges they face, millennials are stubbornly optimistic about their future. An overwhelming majority say they either have enough money now to live the life they want or expect to in the future. Some of this reflects the timeless confidence of youth. The interesting question is what “the life they want” will look like.
There are two types of millennials. One is saddled with student loan and credit card debt and the other isn’t.
All of my friends that paid off their debt early now own homes. All that did not, are busy complaining about their student loan payments. I also don’t think its a coincidence that the ones that insist on getting the new iphone every single time it comes out have no shot at owning a home.
(2)
The good news is there’s never been a better time to purchase your first home.
At first I was wondering who was still trotting out this tired meme….then I clicked on the link and realized it was Written by Donald Frommeyer, CEO of National Association of Mortgage Brokers.
Sigh.
All the boomers and genx’ers are just jealous of how good the millennials will have it. That’s why they feel the need to constantly talk shit.
Most educated cohort in the history of this country, yet they are all dumb slackers.
I’d say they are fiscally conservative cohort since the Great Depression.
Exactly why I believe this bull run is only getting started. American economy the next 10 years is going to boom. Maybe even 15 years, till 2030. All the pieces are lining up.
People really won’t realize how cheap homes are today, till they are in 2025 saying to themselves, why didn’t i buy in so and so. Age old line that continues with each boom and bust cycle.
Grim says:
December 27, 2014 at 11:05 am
All the boomers and genx’ers are just jealous of how good the millennials will have it. That’s why they feel the need to constantly talk shit.
Most educated cohort in the history of this country, yet they are all dumb slackers.
I’d say they are fiscally conservative cohort since the Great Depression.
Yup, my wife and I both are student debt free.
Looks like you and I are playing for the same team. Are you ready to kill it in the next 10 years?
Ben says:
December 27, 2014 at 7:41 am
There are two types of millennials. One is saddled with student loan and credit card debt and the other isn’t.
All of my friends that paid off their debt early now own homes. All that did not, are busy complaining about their student loan payments. I also don’t think its a coincidence that the ones that insist on getting the new iphone every single time it comes out have no shot at owning a home.
Fits me well. I’m stubbornly optimistic about the future. All aboard!!! This train is about to take off.
“Despite the economic challenges they face, millennials are stubbornly optimistic about their future. An overwhelming majority say they either have enough money now to live the life they want or expect to in the future. Some of this reflects the timeless confidence of youth. The interesting question is what “the life they want” will look like.”
Less than half? Damn, couldn’t pick a better generation to be a landlord. If they start buying, do you see the upside potential to make the last real estate boom look like child’s play? Can’t lose buying rental properties right now. God, I love America!! Great time to be an investor.
“There is reason to be optimistic, however, and it’s the fact that less than half of millennials — those born between 1980 and 1999 — are homeowners. Now, more than ever, the market is crying out for the generation to stop shoveling their money into monthly rent payments and, instead, turn those payments into a tangible investment. A 30-year investment, perhaps. “
10- investor in american stocks or real estate. Great freaking opportunities. The stuff of legend we are living through right now. Proof? We have never seen a bull run like this before, and it’s only getting started as conditions improve.
We’re turning Japanese. This is a hopeful development, as a descent into permanent deflationary quicksand is better than the Argentine outcome.
Low marriage rate = low birth rate = societal collapse
Happy New Year.
That is all.
(African American) Family picks up breakfast tab for Prince George’s County police officers on Christmas Day
http://www.myfoxdc.com/story/27712277/family-picks-up-breakfast-tab-prince-georges-county-officers-christmas
https://www.youtube.com/watch?v=gEmJ-VWPDM4
About Millenials.
Just saw a few days ago in Netflix – “The Last Tango in Paris”.
I had a mental contrast of the picture’s portrayal of male power/machismo and of femininity/muliebrity and the reality of the this well known article below, where they mention the Japanese herbivore male and carnivore female and how it relates present economics.
http://www.theatlantic.com/magazine/archive/2010/07/the-end-of-men/308135/2/
I think Highbrow JJ is a bot.
Blame: http://thoughtsonliberty.com/ill-say-it-girls-is-millennial-hipster-schlock
Pumpkin Head,
People really won’t realize how cheap homes are today, till they are in 2025 saying to themselves, why didn’t i buy in so and so.
Your satire or attempt at it is getting lame. I never thought you had that much creativity in the first place but now, you’re like an annoying child. And if you’re really trying to be serious, then you have the mentality of a child as well.
$715,000 for this architectural gem. It looks they dropped one house onto another:
http://www.trulia.com/property/3158353587-468-Woodbury-Dr-Wyckoff-NJ-07481#photo-1
Not much of a looker, that’s for sure. What’s with the windows? No measuring tape?
xvvEzS uisiquehprtn, [url=http://yzqbkfueqalg.com/]yzqbkfueqalg[/url], [link=http://lkkkdjrtvnzs.com/]lkkkdjrtvnzs[/link], http://zbwhltciicqt.com/
I’m guessing the majority of the price is land. How much would .65 of an acre at the end of a culdesac surrounded by woods good for in Wyckoff? That has to command a premium. Whoever buys this house is knocking it down and using the existing foundation for the tax savings.
Fast Eddie says:
December 28, 2014 at 7:28 am
$715,000 for this architectural gem. It looks they dropped one house onto another:
http://www.trulia.com/property/3158353587-468-Woodbury-Dr-Wyckoff-NJ-07481#photo-1
Whoever buys this house is knocking it down and using the existing foundation for the tax savings.
I rest my case.
Listed at $850,000 last spring; currently at $659,000. That ridiculous vaulted room is a waste. Endless vaulted ceilings are just over-rated hype. Otherwise, one more price drop and I may consider driving by just to see the location. It’s interesting, if not practical.
http://www.njmls.com/listings/index.cfm?action=dsp.info&mlsnum=1434166&dayssince=&countysearch=false
Whoever buys this house is knocking it down and using the existing foundation for the tax savings.
I rest my case because with all due respect, your reasoning is so illogical that I laughed out loud. Anyone with real scratch wouldn’t give this place a 2nd look. It’s like the chubby girl at the dance; desperate for attention.
Every house I go through in every town on these sites has been on there for eternity. I can’t imagine the percentage of complete transactions that never make it to these real estate sites.
For someone that has money, they might buy this. If they want to live in Wyckoff and want a new home, this property will attract them. There are only so many end of culdesac properties available in the town. Throw in the fact that it’s surrounded by woods (privacy factor) and there is an existing foundation available to take advantage of the property tax laws so you won’t being paying new home property taxes, and you can see why this will be a tear down. The nail in the coffin is the current home’s architecture. No architect was used in the planning of this current home. No one will feel bad about tearing that down.
Fast Eddie says:
December 28, 2014 at 10:45 am
Whoever buys this house is knocking it down and using the existing foundation for the tax savings.
I rest my case because with all due respect, your reasoning is so illogical that I laughed out loud. Anyone with real scratch wouldn’t give this place a 2nd look. It’s like the chubby girl at the dance; desperate for attention.
RIP Rex Ryan
For someone that has money, they might buy this.
Once again, proof that your posts are mainly satire or a feeble attempt at it.
Engaging with Punkinhead is the intellectual equivalent of poking at a rabid animal with a stick.
Just leave it be until somebody puts it out of its misery or it just died on its own.
Yes, in desirable towns, people buy crappy homes for the land. So why is it so difficult to understand that someone might buy this home and tear it down?
Fast Eddie says:
December 28, 2014 at 12:59 pm
For someone that has money, they might buy this.
Once again, proof that your posts are mainly satire or a feeble attempt at it.
You have some odd hobbies.
Liquor Luge says:
December 28, 2014 at 1:08 pm
Engaging with Punkinhead is the intellectual equivalent of poking at a rabid animal with a stick.
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Always Low Wages? Wal-Mart’s Other Choices
380 DEC 18, 2013 7:55 AM EST
By Barry Ritholtz
Yesterday, we looked at the benefit to McDonald’s of having its workers subsidized by state and federal aid. Today, its Wal-Mart’s turn. Recall our discussion last month on the related subject of “How McDonald’s and Wal-Mart Became Welfare Queens.” We learned that employees of these two companies are often the largest recipients of aid in their states.
McDonald’s recently found itself in the spotlight courtesy of its “McResource” line — the company help line that helps its poverty-level, full time employees enroll in various welfare programs. A recording of that McResource line sparked outrage, driving this issue into public view.
More recently, Wal-Mart’s holiday public-relations headache began when a Canton, Ohio, store decided to hold a food drive for needy local families for the holidays. What made this a PR nightmare was that the needy families were full time Wal-Mart employees who were working in the store holding a food drive.
Thus, our questions over the arc of these columns about some of the largest retailers in America — Wal-Mart is the single largest private employer in the country; McDonald’s, the largest fast food chain – are simply this:
What should it mean to be employed full time in America?
Should taxpayers be supplementing the salaries of these often minimum-wage workers at large profitable firms?
What would it mean if higher salaries were mandated by an increased minimum wage?
Wal-Mart has 2.2 million employees, including 1.3 million hourly workers. It employs 1.2 million people in the U.S. alone. Gross revenue is $475 billion, generating profits of $17.20 billion. It dominates the discount retail space, and according to Bloomberg, has a 66.70 percent market share.
The size of Wal-Mart is sometimes difficult to visualize. To put it into some context, consider the following: 100 million U.S. shoppers patronize Wal-Mart stores every week. Wal-Mart has twice the number employees of the U.S. Postal Service, a larger global computer network than the Pentagon, and the world’s largest fleet of trucks. Americans spend about $36 million dollars per hour at the stores. Wal-Mart now sells more food than any other company in the world, capturing one of every four dollars spent on food in the U.S. The average American family of four spends over $4,000 a year there. Each week, it has 200 million customers at more than 10,400 stores in 27 countries. If the company were an independent country, it would be the 25th largest economy in the world.
Given the sheer size of Wal-Mart, how it pays “associates” is likely to have an outsized impact on their local and state communities, according to a number of studies.
Wal-Mart’s low wages have led to full-time employees seeking public assistance. These are not the 47 percent, lazy, unmotivated bums. Rather, these are people working physical, often difficult jobs. They receive $2.66 billion in government help each year (including $1 billion in healthcare assistance). That works out to about $5,815 per worker. And about $420,000 per store. But the federal and state aid varies widely; in Wisconsin, a study found that it was at least $904,542 a year per store. (See the accompanying chart.)
Why, I keep asking myself, do we effectively want to subsidize a private company’s employees? Wouldn’t it make much more sense to raise the minimum wage to a level that a full-time worker could support the average American family of four? Just $11.33 puts a 40-hour employee over the poverty line. The costs of this increase would be borne by the company and its consumers — not the taxpayer.
Perhaps the most ironic aspect of this are the advantages to the retailer of higher associate salaries. Some stores have discovered that raising wages provides a competitive advantage. Retailers like Trader Joe’s and Costco pay significantly more than their giant competitor. At Costco, employees earn 40 percent more than at Wal-Mart’s Sam’s Club. Average employees wages at the warehouse retailer are $21.96 per hour, and most of Costco’s U.S. employees are eligible for benefits.
The “underinvestment in labor” is part of the reason Wal-Mart has such enormous turnover. Estimated as high as 70 percent, the retailer incurs enormous costs for recruitment, administration and training.
A Harvard Business School study found higher wages decreased employee turnover, increased morale, and improved customer satisfaction ratings. This adds up to increased sales and improved profitability for the retailer.
Can Wal-Mart afford to increase employees’ salaries? Let’s crunch the numbers. The retail giant does $474.88 billion a year in sales; across their 2,200,000 employees, that nets out to $213,255 sales per employee. Given a 5.93 percent operating margin, that nets out to $12,646.02 profit margin per employee. Adding $3 per hour per full-time employee would consume almost half of that profit. But that before any potential increase in productivity, reduced turnover costs and higher revenues.
The question before us is not whether or not Wal-Mart should voluntarily increase its wages to capture these benefits. That is a business decision for the owners and management to make.
Rather, the present issue is whether or not we as taxpayers should be funding private companies paying below-poverty wages. My view is we should put the full costs of shopping at Wal-Mart back where they belong: On the customers and the company itself.
Yes, in desirable towns, people buy crappy homes for the land.
You sound like a realtor.
#24 , Ed, you notice that they don’t have a garage? I mean why do all that stain glass and all that work and not have a garage!!!! I have noticed that garages are just not that important in Jerusalem Valley.
Ohh I meant Pascack Valley.
Goodbye Perry Fewell.
Well its good Ed you can take a joke!!
Jerusalem Valley
Omg, you’re wild! lol!
Well I live with the Hillbillies so I really should not talk!! Its worse here!! I am so tired of Hillbillies! I got to get out of here too!
Isn’t this what’s said all the time, no matter what? This blog was founded on why it’s not a good time to buy. Will there ever be a good time not to buy again?
Calling all millennials: The future of the housing market is resting on your shoulders. The good news is there’s never been a better time to purchase your first home.
[4] Ben –
ding! ding! ding! We have a winner! Back in the early 80’s all of my friends had degrees, jobs, and zero debt. We all bought real estate by the mid 80’s with 8-9% mortgages because we were trying to do something “smart” with our savings. We didn’t have brokerage accounts or financial savvy, just jobs and no debt and independent lifestyles away from Mom and Dad that didn’t exceed our income. We had to do something with the money and all the late-night infomercials told us that RE is where we should be. How often do you think early 20-somethings sit around doing bong hits at night these days wondering where they should invest their savings?
All of my friends that paid off their debt early now own homes. All that did not, are busy complaining about their student loan payments.
Marilyn,
Aren’t you in Bergen County? I was told every town north of Garfield is bleeding wealth.
A colleague of mine is in love with Wal-Mart and claims they are a fantastic company because they pass on their savings in labor onto their customers. I can’t go to Wal-Mart. They pass on their employees’ misery to their customers as well. I’m more than willing to pay the extra 10 cents per product to not have to be around that crap.
“The imagination usually dictates more than one reason- for just about everything.
While not against an article such as the one here, it could be missing an interesting anomaly occurring. The question is, will or can it get better? Or will it continue to get worse?
Here it is. The famous use to be. It use to be that people couldn’t afford a certain neighborhood. Now, its people can’t afford to live in certain counties. Or another way, in vast amount of large area’s which happen to be hubs of high-paying employable jobs.
” The rent is just too damn high.”
And water is certainly an element. The closer one lives, the higher the cost of living. And homes. Coastal regions usually, come with the highest price tags.
Take Manhattan, as a small example. The medium income in some area’s is over 150.000 a year. Not including bonus. fingers crossed. Same in coastal area’s on the west coast. The original point being, can interior middle America, withstand the storm? In real estate? In job growth?
One could go a ton of different ways here, more than one.”
http://www.dailyfinance.com/2014/12/27/cheap-financing-comes-back/
Could not agree more.
“Reason 5: Not an investment, but still much better than renting for your financial health
Even though I’ve said your home is not a good investment, at least in the traditional sense of the word, it is still exponentially better for your long-term financial health than being a lifelong renter.
Let’s say you buy a $200,000 house, and you put $40,000 down. This would make your mortgage payment $810.70 for 30 years at a 4.5% interest rate. At the end of the 30 years, you own the home free and clear, and hopefully it’s appreciated significantly in value.
If you pay the same amount in rent, after 30 years, you’ll have paid a total of $291,852 in housing payments. This is also a glorified scenario, as rental rates usually rise over time, making your actual total even more. At the end of 30 years, you’ll have absolutely nothing to show for all of the money you spent.
So, while owning your home only provides 3%-5% annual returns on a long-term basis, this is still far better than paying out hundreds of thousands of dollars and not building any equity whatsoever. Homeownership is still the way to go!”
“I’ve always heard that 7 years is the time frame. If you expect to live in the same house for 7 years it’s better to buy than rent.
That said. It’s better to buy and sell if you are stable and looking to stay ahead of the price increases.
People like myself got screwed by buying in euphoric periods like 2006 but some who bought in 2001 or 1987 will never be talked out of buying as an investment.
The real question is how fast will the rent/mortgage rise. A simple rent vs. mortgage chart would have been nice to look at in hindsight for me.
http://blogs.reuters.com/felix-salmon/2012/05/08/chart-of-th…”
Vigoda>Hefner
* Year also saw unemployment fall, stock gains, security breaches, auto recalls and first woman to lead Fed By TALI ARBEL
NEW YORK — This year showed how sheltered the U.S. economy is from geopolitical and health crises around the world. The global economy sputtered, but the U.S. powered ahead. Employers are finally hiring enough to lower unemployment. A plunge in gasoline prices and a rising stock market have Americans feeling richer and spending a bit more.
Those are some of the top business stories of 2014, as chosen by business editors at The Associated Press. Others include massive product disasters: a string of auto recalls after faulty ignition switches from General Motors Corp. and air bags in many car models caused injuries and deaths. Hackers stole personal information from millions of people in a wave of breaches at stores, banks, a movie studio and other organizations.
We’re also becoming increasingly dependent on our phones and tablets, using them to communicate, play and pay.
Janet Yellen became the first woman to head the Federal Reserve, and U.S. workers won higher pay as cities and states across the country raised the minimum hourly wage.
Corporate deal-making was also in the spotlight. Companies acquired each other at a level not seen since 2007, the year the Great Recession began, while a burst of businesses went public.
The top 10 business stories of 2014:
1. U.S. grows as world slows: After a freezing winter put a chill on buying and selling, the U.S. economy has posted its best six months since 2003. But the rest of the world hasn’t been as lucky. Japan has fallen back into recession. The 18 countries that make up the eurozone are barely growing and fear a dangerous drop in prices. Major developing nations aren’t faring much better. China’s growth has dropped to a five-year low of 7.3 percent. Western sanctions and dropping oil prices have decimated Russia’s currency. Brazil just edged out of recession. What’s helped the U.S. is its relative insulation. American consumers, not exports, are the main drivers of the world’s largest economy.
2. Jobs are back: Millions of Americans still struggle with low pay and fewer hours of work than they want, and millions have given up looking for a job entirely. But five years after the recession ended, the U.S. job market is looking healthy. The unemployment rate is below 6 percent. Employers added nearly 3 million jobs, the most since 1999, as shoppers and businesses spend more. As a result, the Federal Reserve ended its recession-era stimulus program in October and is edging closer to lifting interest rates. The Fed has kept rates near zero since 2008 to spur lending and investment.
3. Security breaches: The theft of 40 million credit and debit cards and 70 million personal records from Target during the fall turned out to be just the beginning. Home Depot Inc. hackers stole 56 million cards and 53 million email addresses. There were breaches at Kmart, Dairy Queen and Albertsons. JPMorgan Chase & Co. said hackers stole information covering 76 million households and 7 million small businesses. Sony employees’ private information and emails were posted online. The consequences? Sony Pictures Entertainment canceled for a time the release of “The Interview,” a comedy about assassinating the North Korean leader, after hackers threatened to attack movie theaters. Target Corp. replaced top executives. Shops, card companies and banks sped up card-security improvements.
4. Oil plunge: Global crude prices have fallen to around $57 per barrel from this year’s high of $115 because of more production, especially in the U.S., while slowing economies in Europe and Asia crimp demand. A rapid decline in the second half of the year pushed gasoline to below $2.50 a gallon in the U.S., the lowest price in nearly five years. Americans are pocketing $14.6 billion more a month than when gas was at its high for the year of $3.70. Cheaper crude is also pumping up auto sales and saving airlines money on jet fuel. But drilling could slow in North Dakota’s new boomtowns and other regions, hurting businesses that have cropped up. And governments in energy producers Russia, Venezuela and Iran are being squeezed, increasing the likelihood of political upheaval.
5. Auto recalls: In the U.S. alone, automakers recalled more than 60 million cars and trucks. That far surpasses the previous record of 30.8 million in 2004. The bulk of those come from two problems that have led to nearly 50 deaths and dozens of injuries. Japanese supplier Takata, whose air bags can inflate too fast and spew shrapnel, has fought regulators’ demands to expand recalls. And GM was fined the maximum $35 million by U.S. safety regulators for dragging its feet — for a decade — over replacing faulty switches that can shut down car engines. The U.S. Justice Department is investigating both companies.
6. Mobile momentum: PC sales are slumping, but mobile phone subscriptions are expected to reach 7 billion this year — the same as the world’s population. Phone makers are launching cheaper smartphones aimed at developing countries, which could get billions more people online. Already, more than a billion people check Facebook on their phones and tablets. The social media giant spent $22 billion on a phone messaging app, WhatsApp. Uber, a hail-a-cab app, is valued at $40 billion. Apple Inc., the iPhone and iPad maker, launched a payment system that sidesteps cash and plastic.
7. Stock markets soar: Another year, another record. The end of the Federal Reserve’s bond-buying stimulus program stressed investors during the fall, but U.S. stocks kept rising, extending the bull market run to nearly six years. More companies acquired each other, and big companies bought up more than $400 billion of their own stock, helping to put the Standard & Poor’s 500 index on pace for a 12 percent gain in 2014. And despite the end of the Fed’s bond purchases, which was expected to weigh on markets, bond prices rallied and rates dropped.
8. Minimum wage growth: Inequality has been rising, and median household incomes have fallen since the recession began in late 2007. But the federal minimum hourly wage has remained at $7.25 since 2009. Labor organizers, fast-food workers and Wal-Mart Stores Inc. employees have campaigned for higher pay across the country. Congress hasn’t acted, but cities and states — and President Obama — have. Obama raised pay by executive order for government contractors, to $10.10 an hour. By the start of the new year, 29 states and Washington, D.C., will have a higher minimum wage than $7.25.
9. Janet Yellen: The Federal Reserve had been led exclusively by men for a century. Then Janet Yellen, a 68-year-old former economics professor and the No. 2 official at the Fed, became the first woman to lead the central bank. Yellen, plainspoken, with a trace of her native Brooklyn in her speech, has criticized inequality, focused on job growth and tried to demystify the moves of the notoriously opaque Fed.
10. Let’s make a deal: Higher stocks and confidence lifted global mergers and acquisitions volume to highest level since 2007. With a few days to go, global deal volume has risen 20 percent to $3.41 trillion, including debt. Climbing markets make it easier to do stock deals, and borrowing is cheap. Meanwhile, initial public offerings had their biggest year since 2000. Health care companies made up 37 percent of all IPOs in the U.S., nearly double the level in 2013.
And the biggest IPO ever, that of China’s e-commerce behemoth Alibaba Group Holding Ltd., raised $25 billion in September.
http://www.northjersey.com/news/business/u-s-economy-left-world-behind-1.1182335
I used to live in Bergen County, Hillsdale. Im now in Morris County and heading eventually to Somerset County.