Pending Home Sales Jump in November

From the WSJ:

U.S. Pending Home Sales Rise in November

New data on home sales released Wednesday offer few signs suggesting a breakout for the U.S. housing market, but they also offered little proof of a renewed slowdown.

The number of contracts signed to buy previously owned homes rose to the third-highest level of the year in November, the latest sign of how housing demand firmed up in the second half of 2014 after a sluggish start.

The National Association of Realtors said its index measuring pending home sales, reflecting sales that have gone into contract but haven’t yet closed, rose 0.8% from October and 4.1% from a year earlier on a seasonally adjusted basis. That represents the largest year-over-year gain for the index since August 2013.

The Realtors’ index showed that contract activity picked up in the Northeast, South and West in November but fell 0.4% in the Midwest. Pending sales in the South hit their highest level since July 2013, and the seasonally adjusted index for that region has been higher in only three other months since the housing bust began in 2007.

After a two-year rebound, housing demand faltered in the middle of 2013 amid inventory shortages, rising prices and a sudden increase in mortgage rates. Demand stayed soft in early 2014, during a particularly cold winter, but improved in the summer, a period during which mortgage rates floated down.

“The market overpriced itself this year, and buyers are very price sensitive right now,” said Glenn Kelman, chief executive of real-estate brokerage Redfin.

This entry was posted in Housing Recovery, National Real Estate. Bookmark the permalink.

80 Responses to Pending Home Sales Jump in November

  1. grim says:

    Northeast is the leader in November with a 7% year over year increase.

    PHS now up 3 months in a row. Pointing to a strong start for 2015?

    Happy New Year everyone!

  2. Fast Eddie says:

    A year over year 7% increase and we’re squeezing inventory from a stone. Right. The numbers are nowhere near what the syndicate indicates because the number of listings doesn’t exist. You can’t sell a house if it’s not for sale. The NJMLS finally came clean and starting displaying the price history, much to my shock and awe. Now, they need to finally ‘fess up and admit that the number of unqualified sellers is staggering. The real story is still yet to be told.

  3. Liquor Luge says:

    Happy New Year, bitchez!

  4. anon (the good one) says:

    “Inequality is one of the key challenges of our time. Income inequality specifically is one of the most visible aspects of a broader and more complex issue, one that entails inequality of opportunity and extends to gender, ethnicity, disability, and age, among others. Ranking second in last year’s Outlook, it was identified as the most significant trend of 2015 by our Network’s experts.

    This affects all countries around the world. In developed and developing countries alike, the poorest half of the population often controls less than 10% of its wealth. This is a universal challenge that the whole world must address.”

    @wef: Why inequality is 2015’s most worrying trend #outlook2015

  5. Fast Eddie says:

    …the poorest half of the population often controls less than 10% of its wealth.

    It’s been this way since the beginning of time. Do you understand it’s mathematically impossible for everyone to be on the same financial plane? And can you make a point in your own words for once? Have you always been this depressed and resentful? I hope 2015 is a better year for you.

  6. 1987 Condo says:

    I’m thinking the world has never been richer than today…..tremendous problems and inequality but give me a better 50 year period, where worldwide things were not better…

  7. anon (the good one) says:

    “While it is true that around the world economic growth is picking up pace, deep challenges remain, including poverty, environmental degradation, persistent unemployment, political instability, violence and conflict. These problems, which are reflected in many parts of this report, are often closely related to inequality.

    The inherent dangers of neglecting inequality are obvious.

    People, especially young people, excluded from the mainstream end up feeling disenfranchised and become easy fodder of conflict.

    This, in turn, reduces the sustainability of economic growth, weakens social cohesion and security, encourages inequitable access to and use of global commons, undermines our democracies, and cripples our hopes for sustainable development and peaceful societies.”

    “In order to effectively address inequality, countries need to embrace an integrated agenda that looks at the problem across the social, economic and environmental dimensions, including access to education, healthcare and resources.
    Central to these solutions is a basket of interventions that promotes equitable access to resources and services, as well as inclusive growth with decent jobs and livelihoods for all people within society. ”

    @wef: Why inequality is 2015’s most worrying trend #outlook2015

  8. grim says:

    I find it so odd that so many talk about inequality as if it were some sort of device hoisted over the populous by the corporation or the government, and not the sort of thing that we ourselves determine and create out of our own action and volition. It’s this way because we make it so, and those who don’t like it are complicit with it.

    But where do you draw the line with trying to create this kind of utopian equality? I’ll paint a situation that has absolutely nothing to do with government and business, and everything to do with personal decision, and still you’ll see inequality develop.

    If we are in an equal economic state, and you have 3 children, and I have 1 child, by the time we die, I will likely have more money/assets, if I leave those assets to my 1 child, he or she will be significantly more wealthy than your 3 children. He or she will face less of an economic burden with regards to student debt, or even housing, since he or she may be handed those things outright. Your 3 kids, will likely be burdened with more student debt, and 1/3rd the inheritance, if even that.

    So how do we solve for this situation? We have two families, 4 kids. 1 of the 4 will be significantly better off than the other three. Because of this “head start” it is also likely that they’ll save more money, since they would have little or none of the typical debt service associated with “getting started” – student loans, rents in a new city, first mortgage, car payments. Even a small trust in a conservative investment over time would leave this one child with a significant nest egg. Now imagine if this child did the exact same thing with his or her family?

    Lay it on me? What kind of punitive wealth redistribution scheme would you concoct to correct this gross inequality?

  9. anon (the good one) says:

    upward wealth redistribution is already working well. but, so we are clear, “redistribution” is your word, not mine

    anon (the good one) says:
    December 31, 2014 at 12:29 pm

    Rebuilding Our Crumbling Infrastructure

    Reversing Climate Change

    Creating Worker Co-ops

    Growing the Trade Union Movement

    Raising the Minimum Wage

    Pay Equity for Women Workers

    Trade Policies that Benefit American Workers

    Making College Affordable for All

    Taking on Wall Street

    Health Care as a Right for All

    Protecting the Most Vulnerable Americans

    Real Tax Reform

    1987 Condo says:
    December 31, 2014 at 12:11 pm
    #13…I forget, what is the solution that I can act on again?

  10. Essex says:

    Eddie….you gotta get a new schtick

  11. Liquor Luge says:

    I’ll come back when anon’s mental vomit has subsided.

  12. sven says:

    Best post of the year already?

    Fast Eddie : ” Have you always been this depressed and resentful?”

    May you get lucky this year.

  13. 1987 Condo says:

    #9..I guess I am dense…but what exactly are you recommending as actionable steps besides presenting a list of, quite obvious, good outcomes that I think everyone is in favor of..(with the possible exception of putting American workers/citizens ahead of other world citizens..not sure why we don’t want all these for all those on earth)…honestly I am not sure what else you can have but the democracy we have in US. Seems other countries really don’t have the answer either….10 years ago you may have argued Europe..but I think things will unfold quite negatively there over next few generations….

  14. Juice Box says:

    Next year I want to ring in the new year in Manila, they rally know how to do fireworks right.

    https://www.youtube.com/watch?v=HKbTn_J7zoE

  15. Grim says:

    List is incomplete as it doesn’t include the systematic execution of politicians.

  16. Fast Eddie says:

    Essex,

    What schtick? People who painted themselves into a financial corner shouldn’t expect private donations. When the market is allowed to correct, I’ll switch topics.

  17. Fast Eddie says:

    G0d bless the 1% on this glorious, sunny New Year’s Day! :) May their investment and entrepreneurial spirit continue to allow my family the opportunity to learn, earn, grow and invest! Salute!

  18. Essex says:

    17. are you sure you aren’t carl quintanilla?

  19. Essex says:

    Eddie/Carl…. “Before we let you go, is it fun being a billionaire….?”

    http://www.thedailybeast.com/videos/2009/02/18/allen-stanford-on-cnbc.html

  20. nwnj says:

    Eddie is incapable of putting 2 + 2 together apparently. Somehow he thinks home prices will fall but stock prices will remain inflated. Good luck with that.

  21. chicagofinance says:

    The only flaw in Eddie’s thinking is his tactics. I would find houses that closed in the past six months that he would have bought at the contracted price. Figure out the listing agents on those deals…..even if it was a pocket listing or buried listing. Go into the agencies that had the buried listings and interview the brokers that got paid. Kiss their a%%es and also be willing to buy at the market closing prices. I guarantee that by summer he will at least be in the top 2-3 bids on a house he really wants. If he doesn’t want to meet the market so be it…..the open listings are a waste of time as he routinely proves to us.

  22. grim says:

    There is a bias inherent in closed transactions that somehow makes them more appealing. It’s as if the transaction provides some sort of price confirmation to an outside party. I’ve seen this too often. Go through 20 recent closed sales with a buyer, and they like 50% of them, “I’d have bought that for that price … I really like that one … that one wasn’t too bad,” etc etc. It’s as if any potential negatives or compromises are offset by the price confirmation. Meanwhile, go through a set of pre-screened actives, and you get a completely different interpretation. All the sudden the wallpaper they were willing to accept in the closed listing is completely unacceptable, “not for that price!” I remember one case where one of my clients called in a tizzy about a property that just went into attorney review, “why didn’t you show us this one, why didn’t we look at this?” Right, you told me to scratch it off the list because you “hated it.” Well we drove by and we like it, can we still make an offer? Again, this same kind of price confirmation bias. This kind also very common, you don’t want to know how many clients I worked with that wouldn’t make an offer, but upon hearing it went ARIP, I’m in my car at 9:30pm driving out to get papers signed so we can try to lob in an offer late to the game. No urgency to sit around for 3 weeks thinking about it. They never get accepted.

    The most successful deals I’ve worked on in the past few years have also been the buyers who were most active. I don’t mean lazy Sunday car rides, I mean finding targets and lobbing offers, and then walking away. 5-6 offers isn’t out of the ordinary.

    It’s the only way to get real price discovery anyhow, otherwise you are just looking at a made up number. Worst case you greased the sellers for the next guy.

  23. Fast Eddie says:

    nwnj,

    I never mention stock prices. They’ll always find the water level. I don’t pay attention to it. Invest and forget. On the other hand, houses have another 10% to 15% to go. The longer they keep the body on a respirator, the longer the correction will take. By the way, how far underwater are you?

  24. Fast Eddie says:

    5-6 offers isn’t out of the ordinary.

    I agree 1000%. It’s how I bought my first house and was the game plan when I was in the process of buying house #2. The game today doesn’t offer those options at the moment. No inventory = lack of offers.

  25. Fast Eddie says:

    If he doesn’t want to meet the market so be it…..

    Correct. Only a s.ucka would sign a premium contract for the last dead french fry in the pan. I’m not falling for it.

  26. Liquor Luge says:

    grim (15)-

    Now that’s what I’m talkin’ about!

    “List is incomplete as it doesn’t include the systematic execution of politicians.”

  27. The Great Pumpkin says:

    Is this not what I have said to fast eddie over and over again. Looking at Internet listings means you are not a serious buyer. If you are serious, you will pick a target location and find the best agent for that location. If not go door to door with an offer on the homes you like. Fast Eddie acts like he is a hustler, but is just a window shopper. He doesn’t have game when it comes to business. He will buy when prices start rising and he panic buys in order to not pay an even higher price. The end result, paying more for the same prices he was complaining about. He doesn’t want to buy in a great buyer’s market, he thinks it will fall more. Lost.

    chicagofinance says:
    January 1, 2015 at 12:19 pm
    The only flaw in Eddie’s thinking is his tactics. I would find houses that closed in the past six months that he would have bought at the contracted price. Figure out the listing agents on those deals…..even if it was a pocket listing or buried listing. Go into the agencies that had the buried listings and interview the brokers that got paid. Kiss their a%%es and also be willing to buy at the market closing prices. I guarantee that by summer he will at least be in the top 2-3 bids on a house he really wants. If he doesn’t want to meet the market so be it…..the open listings are a waste of time as he routinely proves to us.

  28. The Great Pumpkin says:

    27- yet, I’m the idiot. Warren buffet didn’t say a couple years ago that he would buy up real estate like crazy for no reason. It was great advice. Many people already profited from it in many locations. Meanwhile, you are waiting for a price drop that is not coming till the next bubble inflates and busts.

  29. The Great Pumpkin says:

    Proof of that….haven’t had a true war with world powers directly fighting each since wwII. Though, this inequality problem can bring on this type of war environment if the inequality balance sways too much to one side and causes unrest.

    1987 Condo says:
    January 1, 2015 at 10:12 am
    I’m thinking the world has never been richer than today…..tremendous problems and inequality but give me a better 50 year period, where worldwide things were not better…

  30. grim says:

    Even if you are pessimistic on NJ real estate, the counterpoint is the floor being set by rapidly rising home prices everywhere else. Look, I’m all for a good Detroit reference, but we’re far from Detroit. You have markets all over the US setting new price highs every month. Every time this happens, it means the NY Metro “premium” falls when looked at comparatively. The “it’s cheaper over there” meme is starting to rapidly fall apart in a number of areas.

    Sure, maybe on net the price is still lower, but I fail to see the logic when someone is willing to relocate to buy a property at a price well above what it’s worth, just because it’s somewhat cheaper than here.

    This is especially so in locations that do not have any semblance of a strong resale market.

  31. The Great Pumpkin says:

    22- grim, so true. Right on point. It’s like a little kid doesn’t want a toy till they see someone else playing with it. Adults are no different. Didn’t want it, till they see someone else would want it.

  32. chicagofinance says:

    The latest and greatest version of the boondoggle…..check the video….enjoy…
    http://luxurypoint.com/

  33. Grim says:

    You know it’s doomed to fail when they advertise a Bass Pro Shop, even worse would have been a Cabellas.

    That video starts out very strong, I can barely understand what the f*ck they are talking about. It reminds me of that stupid real estate commercial on Bloomberg Radio that babbles about buying preloaded cash positive equity rich properties for pennies on the dollar with guaranteed rental income too!

  34. Liquor Luge says:

    I just can’t believe that Gary wastes his time actively seeking a home in a market that has been jury-rigged and prevented from correcting for over seven years now. I believe his assessments are spot-on and believe that the day of reckoning for the NJ RE market will coincide with the collapse of civilization as we know it.

    That being said, it’s just an utter waste of time, energy and money to essentially elbow one’s way into prime seating to view the slow-motion rotting of the fabric of Amerika. Should Gary decide to sit out this nonsense, I will only miss the hilarious selection of underwater homecoffins- and trenchant commentary on same- that he provides on such a regular basis.

    The “shadow” RE market and the trickle of pocket listings that manage to close are, to me, confirmation of the sickness of this market. As in so many other markets for services, goods and necessities, it speaks to the “DIY, informal, ad-hoc networking/small-and-local” ways of transacting daily human business that will replace formal, structured markets when the shreds of civilization finally fray and snap. Community-based, relationship-driven associations of mutual interest are increasing in number all over the country (just look at things like organic farmers who distribute shares of produce to a list of subscribers), and these will only gain in prominence as conventional society’s crumble accelerates.

  35. chicagofinance says:

    Why not call it Xanadu Point?

  36. grim says:

    Brownfield development? Toxic Avenger III. The marketing pdfs are hilarious too, I especially like the Bellagio rendering.

  37. grim says:

    Who is behind this nonsense anyway? I would have loved to be the meeting at which they decided what this place really fucking needed was big fountains.

  38. Liquor Luge says:

    I just visited my mom down South and went into a Bass Pro Shop. Spend 15 minutes in one of those places, and please tell me how Amerika right now is any different than Rome right before the Visigoths jumped ugly on their asses. There aren’t enough carnival freak shows on the planet to employ all the 300-lb, fried turkey-chomping bags of gristle and cholesterol wandering these abattoirs of sanity. And, their brains are so stunted by Third World-quality edumacation, HFCS-drenched foods and political brainwashing that they cannot differentiate between hunting for a four-legged critter and pulling the trigger on an ISIS insurgent. Killing is killing…and killing is fun.

  39. Liquor Luge says:

    They are turning the old Pyramid in Memphis (a perfectly good basketball arena that was deemed inadequate by the NBA) into the world’s largest Bass Pro Shop. As to whether anyone will shop there? Who knows…

    I think Bass Pro Shops would do better throwing up a store in downtown Detroit.

  40. Fast Eddie says:

    Pumpkin Head,

    Come to the next get-together and we can discuss our strategies in person.

  41. 30 year realtor says:

    I have said it before and I will say it again…this is a normal market. There are buyers, sellers, availability of financing and the number of transactions is in a normal range. Yes there are plenty of unusual factors driving the market but prices are stable and the transactions are there.

    I have put quite a few well priced properties on the market in December and all of them went under contract with multiple offers. Nothing sold wildly above ask but there was substantial showing activity and plenty of offers.

    There are stark differences in price recovery throughout North Jersey. Many areas have recovered little or none of the lost value from peak and others have recovered 90% or more. The cream in condition and location has risen to the top.

  42. Fast Eddie says:

    He doesn’t have game when it comes to business.

    Says the guy who got a gift from grandma.

  43. Fast Eddie says:

    The cream in condition and location has risen to the top.

    Send the listings. If anything looks promising, we can set up an appointment to take a closer look.

  44. Fast Eddie says:

    Yes there are plenty of unusual factors driving the market….

    Then, with all due respect, it’s not a normal market.

  45. 30 year realtor says:

    Fast Eddie, I’m not looking to sell you anything. Risen to the top equals unrealistically priced in your language.

    Normal and abnormal is all about transactions and availability of financing in my view.

  46. Fast Eddie says:

    Risen to the top equals unrealistically priced in your language.

    Just for ha ha’s, try me. I’m still waiting for someone, anyone, to give me a link, a clue, a treasure map that’s going to entice me. I’m still waiting. There are too many cheerleaders on this board (I’m not saying you) that love throwing jabs and talk a lot but don’t put their “money” where their mouth is.

  47. phoenix says:

    LL38
    Love the line…
    “There aren’t enough carnival freak shows on the planet to employ all the 300-lb, fried turkey-chomping bags of gristle and cholesterol wandering these abattoirs of sanity.”

  48. grim says:

    Since we didn’t do a predictions thread:

    North Jersey home prices will be up 5-7% in 2015.

  49. Juice Box says:

    Eddie your housing question for 2015 should be will the market distortions of the housing market of 2014 continue well into 2015 or will something new happen to keep housing from dropping?

    Nearly 50% of home purchases across the US in 2014 were made in cash and these were not foreign buyers but US based companies investing. Those US based companies investing in housing collectively managed to drive up housing prices while mortgage lending continued to drop in 2014.

    The U.S. housing market has not fully recovered from the crash, asset prices are nowhere near peak except in a few markets like NY, San Fran etc.

    So if the private investors step out of the game in 2015 what will drive price appreciation on 2015?

    Well the NAR seems to think (and is lobbying actively) for the Millennials AKA Beardos to start forming households and this will drive housing up. Fannie and Freddie are set to start buying up 97% loan-to-value ratio loans, Only 3% skin in the game and PMI will roll off after the first 5 years of the loan. Fannie began offering this month and Freddie will do so in March.

    There is also legislation pending to start the clock over with a new law creating new GSEs, resetting the risk which could really go wild depending on the final version of the legislation.

    By the end of 2015 we could have something approximating the start of a new housing bubble, the Millennials finally growing up and also getting very cheap no skin in the game loans to buy homes.

    I am a homeowner so I am biased but I do my homework, there is a good chance lending standards will get loose again. Not like before but history does rhyme and it has been nearly a decade folks. Housing Bubble 2.0, not the same as 1.0 but more of a recovery.

  50. Juice Box says:

    re# 4 9 – never too late.

  51. Grim says:

    I’ll put it up for tomorrow

  52. Essex says:

    I’m not excited about my ‘trade-up’ year. Seriously. Living in New Jersey Sucks.

    Sorry someone had to say it.

  53. Liquor Luge says:

    30 Year (42)-

    Lots of props to you, but pricing that’s basically dependent upon perpetrating the come-ons used during a decade of fraud is more than an “unusual factor”. I’d also say that programs like clunkers-for-houses have dragged so much legitimate future demand forward that there is nothing left in the market to give it legs once the many frauds and scams surrounding housing finally cause the market’s collapse.

    We’re already in a situation in which interest rates are 0, in which it’s obvious that any rise in rates will crush the necronomy and in which the world is awash in cash (chasing malinvestment) and the drivers of the world’s growth (China) are slowing down fast.

    “Yes there are plenty of unusual factors driving the market…”

  54. Liquor Luge says:

    I predict we are firmly into the end of days.

  55. anon (the good one) says:

    @NY1:

    BREAKING:

    NY1 has learned that former Governor Mario Cuomo has died at the age of 82. Tune in to NY1 for ongoing coverage.

    @samgustin: RIP Mario Cuomo. A true public servant I grew up with and learned from. Condolences to the Cuomo family. @NY1

  56. Juice Box says:

    Luge – your enthusiasm for 2015 is a little soft.

  57. chicagofinance says:

    Before you run the 2015 thread, link to the 2014 threads….

    grim says:
    January 1, 2015 at 4:32 pm
    Since we didn’t do a predictions thread:

    North Jersey home prices will be up 5-7% in 2015.

  58. clotluva says:

    (46) Normal and abnormal are all about bubble level pricing (i.e. as defined by the Case Sciller index) in my view.

    By that metric, we are abnormal.

    The only thing normal about this market is the industry hype machine and the steady supply of marks.

  59. chicagofinance says:

    The best way to prime the NJ RE market would be a head-fake lurch in rates before April up to 3.25 or so, then a retrenchment below 3%…..the ignorant masses will believe the crap about buying now before rates go higher…..I don’t think rates are going substantially higher (above 5% on The 10 where they belong) any time soon.

    grim says:
    January 1, 2015 at 4:32 pm
    Since we didn’t do a predictions thread:

    North Jersey home prices will be up 5-7% in 2015

  60. chicagofinance says:

    bi always wrote it as Case Chiller….
    https://www.youtube.com/watch?v=Ux3laLkueZk

    clotluva says:
    January 1, 2015 at 8:14 pm
    (46) Normal and abnormal are all about bubble level pricing (i.e. as defined by the Case Sciller index) in my view.

    By that metric, we are abnormal.

    The only thing normal about this market is the industry hype machine and the steady supply of marks.

  61. chicagofinance says:

    Cuomo was way to smart and accomplished to be such a schmuck……it speaks volumes that Pataki was able to unseat him at the height of Cuomo’s powers….what an absolute waste of talent……so liberal that he was ineffectual……

    anon (the good one) says:
    January 1, 2015 at 7:57 pm
    @NY1:

    BREAKING:

    NY1 has learned that former Governor Mario Cuomo has died at the age of 82. Tune in to NY1 for ongoing coverage.

    @samgustin: RIP Mario Cuomo. A true public servant I grew up with and learned from. Condolences to the Cuomo family. @NY1

  62. chicagofinance says:

    to = too

  63. Essex says:

    Only the peasants worry that much about interest rates.

  64. chicagofinance says:

    clot? kin?

    OLDSMAR, Fla. (AP) — A Florida man is charged with first-degree murder after his mother was found decapitated outside their home on New Year’s Eve.

    According to the Pinellas County Sheriff’s Office, Mario Gomez called 911 on Wednesday evening and told dispatchers that his brother Christian had killed their mother and cut off her head.

    Deputies found Maria Suarez-Cassagne’s body outside the Oldsmar home, near some garbage cans.

    Sheriff Bob Gualtieri said Thursday that Gomez had planned his mother’s murder for two days.

    Gomez was upset with his mother because she wanted him to move boxes around the house, and he was jealous of the attention Suarez-Cassagne paid to his brother, Gualtieri said.

    The 23-year-old attacked his mother in the garage with an ax, severing her head, Gualtieri said. Gomez then allegedly dragged his mother’s remains from the garage to the garbage cans.

    Gualtieri told reporters that the crime was one of the worst his department had ever seen.

    Gomez then fled the scene, but he was arrested a few blocks away after another 911 call reported a suspicious person riding a bicycle in the area.

    Gomez confessed to killing his mother, Gualtieri said.

    Investigators recovered the ax. Mario Gomez, 27, was not injured.

    According to the sheriff’s office, Gomez had been diagnosed with schizophrenia and previously was held under the Baker Act. Gomez also had other arrests in Pinellas County for loitering and prowling, resisting an officer without violence and disorderly conduct.

    Pinellas County jail records did not show whether Gomez had an attorney.

  65. Juice Box says:

    Chi is your 2015 resolution to buy? As in buy a home you dirty renter.

  66. Liquor Luge says:

    SX (64)-

    Peasants worry about interest rates, but every single central banker, money manager and garden-variety financial markets gambler- all of whom are all-in that rates will never go up again- seem pretty worried about them too.

  67. Liquor Luge says:

    Chi, is it still true that something like 65-70% of all derivatives bets involve rates staying low and/or going lower?

  68. Liquor Luge says:

    ZIRP 4Eva, bitchez!!!!

  69. Liquor Luge says:

    Jesus, Punkinhead has been at this blog for over a year?

    He and anon are a bottomless well of idiocy.

  70. Liquor Luge says:

    chi (65)-

    Only a kindred spirit. Some people get so cranky during the holidays…

    “clot? kin?”

  71. Liquor Luge says:

    I was gonna repost that decapitation story, but I don’t like posting stuff like that on a holiday.

  72. Liquor Luge says:

    All is well. Yeah. Right.

    “Another year of putting lipstick on the zombie known as the global economy, kept walking only thanks to $11 trillion in liquidity injections by the world’s central banks and tens of trillions of new Chinese credit created out of thin air and promptly misallocated and embezzled, and the results are in. The bottom line: according to Nielsen, is that despite the S&P recording a whopping 53 all time highs, and the Dow rising over 18,000, the channel that was once must watch financial TV for mom and pop, and has since devolved into endless cheerleading of failed policies and rigged markets, namely CNBC, just suffered its worst year in, well, ever.”

    http://www.zerohedge.com/news/2015-01-01/cnbc-2014-was-worst-year-ever

  73. Essex says:

    72. He obviously had enough of her shit.

  74. Lillypads says:

    My 2015 forecast – New Jersey home prices + 40 percent. Why? Wealth growth.

  75. Lillypads says:

    I finished the second bottle of my favorite drink, vodka.

  76. Lillypads says:

    I stand by the + 40 percent comment.

  77. NJT says:

    #49 Grim

    “Since we didn’t do a predictions thread:

    North Jersey home prices will be up 5-7% in 2015.”

    That’s a pretty broad statement. What towns and/or sections of towns are you talking about?

  78. 1987 Condo says:

    Speaking od Detroit, heard about the”Outsource to Detroit” program…. GalaxE.Solutions is the creator of the “Outsource to Detroit” initiative, which promotes Detroit as an international IT hub and onshore alternative – repatriating information technology jobs to the United States.

Comments are closed.