From Fusion:
The Washington DC-area is now the most millennial-soaked region in the country
From RealtyTrac:
Renting Less Affordable Than Buying in Most U.S. Markets But Not Where Millennials Are Moving Most
RealtyTrac analyzed 2015 fair market rental data recently released by the U.S. Department for Housing and Urban Development for three-bedroom properties in 543 counties nationwide with a population of at least 100,000. In the 473 counties with sufficient rental and home price data, the fair market rent for a three-bedroom property in 2015 will require an average of 27 percent of median household income, while buying a median-priced home requires an average of 25 percent of median household income based on the median sales price in November.
Buying a median-priced home was more affordable than renting a three-bedroom property in 68 percent of the counties analyzed, representing 57 percent of the total population in those counties.
But in the 25 counties with the biggest increase in millennials between 2007 and 2013, fair market rents for a three-bedroom property in 2015 will require 30 percent of the median household income on average while buying a median-priced home requires 36 percent of median household income on average. For the analysis millennials were defined as anyone born between 1977 and 1992.
“First-time buyers and potential boomerang homebuyers are stuck between a rock and a hard place in today’s housing market: many of the markets with the jobs and amenities they want have hard-to-afford rents and even harder-to-afford home prices; while the more affordable markets have fewer well-paying jobs and tend to be off the beaten path,” said Daren Blomquist, vice president at RealtyTrac. “Those emerging markets with the combination of good jobs, good affordability and a growing population of new renters and potential first-time homebuyers represent the best opportunities for buy-and-hold real estate investors to buy low and benefit from rising rents in the years to come.”
Owning real estate in your 20’s and 30’s? Completely unnecessary .
Amend that….owning real estate ever? Completely unnecessary
…and buying anything in New Jersey….fuggitaboutit….let’s see how I do (12 years) in one place. For sale…in 3…..2……1……
I doubt I will make a dime on my place.
I doubt I will make a dime on my place.
From what I understand, prices are near 2006 levels and “savvy” buyers are coming out of the woodwork. It’s always a great time to buy and sell.
An architectural disaster. And these savvy muppets stand to lose money despite being in the house for over a decade. How many more share the same fate?
http://www.njmls.com/listings/index.cfm?action=dsp.info&mlsnum=1440222&dayssince=&countysearch=false
Another architectural gem. Omg…
http://www.njmls.com/listings/index.cfm?action=dsp.info&mlsnum=1433418&dayssince=&countysearch=false
A three bedroom townhouse at 559K ask. There’s a two bedroom for sale a few doors away asking 625K. Good luck!
http://www.njmls.com/listings/index.cfm?action=dsp.info&mlsnum=1427674&dayssince=&countysearch=false
gary (5)-
That’s a classic NJ cheese wedge. Bet it would convert easily to make a nice synagogue.
…or mausoleum.
G-man you have no idea, my dad was working on some electrical work up at Saddle River Grande in Saddle River.
Townhouses, starting at $1.3 million.
By the way, 100% sold out, I believe 70 units.
You can stamp a turd with “Saddle River” and sell it for a million.
@cnsnews: Shipping container home readying for Detroit debut http://t.co/OOjdclNtrB
Of course the millenials are moving.
Is not so much that or where they are moving to, but why they are moving from.
Has any of you lately spent time with any of your locust boomer relatives, that years ago were tolerant or open minded, but life’s changes, mainly in the area of economics and how their lives turned out has made them bitter. They are generally no fun, always talking about tea bagger this or that.
This is a funny version of how they sound, from Howard Stern:
http://youtu.be/QiqMdu2AZZ8
I just came back from this one. It’s renovated, so they say. Two bedrooms are the size of walk-in closets; there are closets in weird places; the extended bedroom has some f.ucked up empty space; there’s no basement, thus, a little spot off the main bathroom for a stack washer and dryer; there’s no yard; the property feels like it’s on ski slope and the driveway pavement is already starting to split and pull apart.
In fact, they put a sh1tty little asphalt berm along both sides of the driveway that screams of Mississippi decor. These are the things that I noticed in a preliminary walk-through, I can imagine all the little surprises they’re hiding, hoping to get through attorney review.
http://www.njmls.com/listings/index.cfm?action=dsp.info&mlsnum=1445267&openhouse=true&dayssince=&countysearch=false
Wage inflation is knocking on the door. “The Great Pumpkin” will indeed be coming on this episode of Charlie Brown.
“Like other economists, Handler expects the 5.8% unemployment rate to fall more slowly this year, reaching a near-normal 5.4% by December.
Baumohl predicts average annual wage growth — stuck at a meager 2% for most of the recovery — will pick up to 3% by midyear as the falling jobless rate forces employers to pay more to attract workers. Koropeckyj says earnings will be pushed up by stronger demand for workers in higher-paying industries.
But Goldman Sachs Chief Economist Jan Hatzius says wages will rise only slowly as discouraged workers who stopped looking for jobs stream back into an improving labor market.”
#14
If you would have bought that for 365k in July like the flipper did(and many here have been telling you to do), then the renovations would be done and you could be moving in.
Gov Christe hugging Jerry Jones lol
“Millennials moving to least affordable metros”
They don’t have a choice. Wherever their parents’ basement moves to, that’s where they move to.
In keeping with the “face” theme, you wouldn’t leave the house without makeup (unless you’re a guy, and even then. Let it be
a hillside area or coastal area, one can choose
from an apartment to a house covering acres of lands.
Arizona and New Mexico are two states where it is easy to find underground homes.
This feature is sky scraping and for the same reason people are eager to buy
these properties whenever possible.
clot wish for 2015 is coming true….one at a time….it begins….
Hedge fund honcho shot dead by own son: sources
The elderly founder of a Manhattan hedge fund was shot dead by his 30-year-old son Sunday inside the family’s swank East Side apartment, law-enforcement sources said.
Thomas Gilbert, 70, the Harvard-educated founder and chief investment officer of Wainscott Capital Partners, was shot in the head by his son during an argument in the dad’s bedroom around 3:30 p.m., sources said.
The son dropped his gun and fled on foot from the eighth-floor apartment at 20 Beekman Place near the United Nations, sources said, sparking a police manhunt.
Christopher Kelly, a doctor who lives directly below Gilbert’s apartment, said he heard the gunshot but didn’t know what it was.
“I heard a loud sound right above me,” he said “In New York, you hear loud noises. I just thought somebody dropped something.”
Kelly said he learned from the doorman that the younger Gilbert entered the building right after his father and then came back out minutes later and didn’t respond to the doorman’s greeting.
“It’s horrible. To think of that happening just a few feet from my head … that’s a scary thought,” the doorman said.
Hector Torres, a 33-year-old neighbor who works in finance, added of Gilbert, “He was a pillar on Wall Street — somebody everyone looked up to.
“Very nice gentleman … They seem like a normal family,’’ Torres added. “Every time I saw him in the elevator, he would say hi, he would ask how I was.”
Gilbert was a graduate of Princeton University and Harvard Business School with more than 40 years on Wall Street.
In 2011, he founded Wainscott, a global equity hedge fund that focuses primarily on biotech and healthcare investing, managing about $5 million in investor money as of August 2013.
Before that, he co-founded a company called Syzygy Therapeutics, a private equity biotech asset acquisition fund focusing mainly on identifying and investing in late-stage drug candidates.
In 2000, Gilbert started Knowledge Delivery Systems, an e-learning company that tailors to the needs of school districts in different states.
He has also run deal departments for major Wall Street firms, including Loeb Partners where he was a Managing Director, Venture Capital.
Clay LeConey, a director of sales and marketing at Wainscott, declined to comment when reached by cellphone.
Word of advice: get yourself some pro-cop stickers for your car. And if you have stickers from tony, uber liberal schools, lose them.
Obama stickers? If you are white, you are cop magnets. Lose them fast.
Joyce, you are on your own.
A good practical joke to play on your anonesque acquaintances is to get pro-Mike Brown, anticop stickers made up and slap them on their cars. Or the ever popular “Bad cop, no donut” stickers.
I plan to hand them out in da hood.
Yes another reason for me to hate the GOP.
http://www.wsj.com/articles/republicans-lay-plans-to-fight-fccs-net-neutrality-rules-1420405643
Congratulations Wingnuts, the GOP own both houses from tomorrow, so the next year and a half are on you. Anyone talking bets on the first Abort1on bill that O veto’s, I say it is in the top 15 of both houses. Last congress it was top 3 in the house but went nowhere in the Senate. For that I say no. The GOP will shoot it self in the foot and the “Economic Recovery” will serve up the Presidency for the 2016 DEM candidate’
The big question here is “Can the GOP congress pave the way for a viable candidate to win?”
I say No.
P.S. I see Jeb Bush as a very viable candidate. I really think he can get past the family name and hit a lot of demographics to possibly win. He is more GWHB than GWB. GWB was an idiot. GWHB was a very smart man
And on your right we are just passing the Rubicon.
This topic has been discussed extensively in here, but I think we just hit a turning point. Where does it go from here?
http://www.huffingtonpost.com/2015/01/04/student-tuition-public-colleges-gao_n_6411998.html
Nwnj,
When you find that same house in Woodcliff Lake that needs renovation for 365k, you let me know.
The End Is Nigh (JJ Santa Edition):
Naked woman gets stuck in ex-boyfriend’s chimney
A crazed California woman stripped naked and tried to slide down her baby-daddy’s chimney — but wound up getting stuck for two hours before firefighters rescued her.
Tony Hernandez, got the rude awakening around 5 a.m. Saturday when the 35-year-old mother of his children, whose name has not been released, attempted to get inside his house, CBS Los Angeles reports.
When the woman showed up and got no answer at the front door, she decided to take off all her clothes, make her way up to the 12-by-12 inch chimney — and then shimmy down making a Santa-style entrance.
Things took a turn for the worse when the ex-lover got herself stuck just as Hernandez was getting up for work. He discovered the woman after hearing her cries for help.
“I’m trapped in the chimney,” he could hear his ex shouting.
Hernandez went up to the roof and tried to free her to no avail, according to CBS.
He eventually said enough is enough and called 911. The Riverside County Fire Department showed up and finally freed Hernandez’ estranged girlfriend after a two-hour operation that involved busting the fireplace open.
The woman was taken to the hospital for minor injuries, CBS reports.
Hernandez said the entire chimney will have to be rebuilt.
This is the second instance in only a few months where a California woman became stuck in an ex-lover’s chimney. In October, Ventura County firefighters rescued a woman who was stuck in the chimney of a man she had dated only a few times. Rescuers dismantled the chimney and used soap to extricate the woman after about two hours.
Luge [11];
You can stamp a turd with “Saddle River” and sell it for a million.
It can even be in flood zone.
Happy New Year, everybody!
I need away to “unsee” that Christie hug yesterday…..
re # 26 – Chi I am still waiting for you to post the article about the guy with two mules.
(Nom-21) If a policeman pulls over my daughter, who has one of those car stickers from her super liberal NE schools, than I will commend the policeman. She will, too. There are a lot of closet conservatives in those schools, my daughter being one of them.
I will also commend the policeman for knowing the school. Most NJ people never heard of it.
Xolepa,
What’s the particular reason she went there knowing she wouldn’t like the schools reputation, perceived or otherwise?
“Hazlitt also argues that reinvestment is discouraged by “high levels of taxation”.
2) Assume the CEO got the money in the above scenario (not hard to do, since we live in a world now that has very low income tax rates on this form of abuse). Now what does he do with it? Does he start a new startup company? Not likely at all, after working for a company enough to get a CEO position why start over as a ‘small timer’ again? Why do anything but perform your tenure at the company you’re CEO at and then retire? Entrepreneurs start businesses; people that make a bunch of money in the stock market don’t, people that are existing CEO’s don’t, people that come from dynastic families of great wealth don’t, at least they don’t in any greater observable proportion than the general populace. I would suggest that they are much less likely to become an entrepreneur of a new company – for those of you unaware: the primary point of becoming rich is that you no longer have to work – a novel concept. If you want evidence of this please look at Fortune 500 and who founded them and what their background was, if this ‘theory’ that the rich create jobs and by extension taxing the rich destroys jobs was correct you’d at least expect to see a larger proportional amount of the “a priori rich” in these roles. In summation: A.) People with ideas and the moxy to see them to fruition start businesses, not those with incredible sums of money. B.) Newly founded businesses typically borrow from banks and are self financed by-in-large over the private investor to which lower income taxes benefit.
I know personally a handful of people that make 6 figure salaries a year and they work incredibly hard for that money, and I consider that they truly earned it, and that they are paying too much in taxes at present. And yet their income has a “reality-check” as what they are paid reflects a `market price’ for their services. No such “market-check” or “sanity-check” exists for the upper management of many of these mega-corps; this is the problem that is smoke-screened behind arguments furthered by Hazlitt’s book and his modern contemporaries.
So in this scenario, high income taxes that are progressively applied encourage production. This flies in the face of all Libertarian and “right wing” (whatever that fake dichotomy means anymore) ideology, yet it is what is observed. There is no ideological “general rule”, as promoted by Hazlitt, that you can use to presuppose the outcome of a specific tax without looking at the specifics. But Hazlitt doesn’t want you look at specifics, he is training you to be a reactionary. There are some useful things in this book – as there are in nearly all books. Yet, if a book, such as this one, is about 95% garbage and 5% useful analysis; I’d tell you that there are better places to pan for gold than in an open sewer.
Be mindful that, in this book, in a chapter this small, there are many more fallacies that Hazlitt packs in that I must leave aside for the sake of brevity.”
the hypocrisy of it. right wingers attending “super liberal NE schools” and avoiding Southern right-wing schools at all costs
Entire book review of the piece I just posted. Check out that last paragraph, and I would have to say that I agree. Rags, this is not an attack. This is trying to show you that your hero’s have their faults ( major faults indeed).
“Henry Hazlitt’s book, Economics in One Lesson is really just a text book of how to be a reactionary. There are only a few of the chapters with any redeemable characteristics, but by no means is this book anything close to resembling something fit for human consumption, unless perhaps you are doing an anthropological study on 20th and 21st century mass-delusion.
Chapter V: Taxes Discourage Production
The vast majority of this book is as fallacious and absurd as the propaganda promoted in this chapter. If I were to write a review of this book in its entirety, while illustrating each and every fallacy, the review would be longer than the book itself; so necessarily, I’ll focus on a single argument in Chapter 5, perhaps the shortest chapter in the book.
In this chapter he promulgates the quintessential argument of the modern day Republicans/Libertarians: that lowering taxes promotes jobs. Hazlitt mentions specifically personal and corporate income taxes. I could disprove this argument historically, but that will require more content than disproving it analytically, as follows.
Hazlitt alludes to a number in saying: “A certain amount of taxes is of course indispensable to carry on essential government functions” without ever specifying a number or a guideline that could determine what that number should be. A few sentences later he says “But the larger the percentage of the national income taken by taxes the greater the deterrent to private production and employment.” There are numerous problems with this sentence but we’ll focus on just one: presently many mega-corporations pay 0% or near 0% corporate taxes. Hazlitt argues in the previous sentence that there are “essential government functions” yet an increase from a 0% tax rate would be a “deterrent to private production”. These two ideals are at such odds with each other that any level of taxation, or lack thereof, can be justified in any degree. To be timely with Hazlitt’s own lifetime, let us consider a 48% (war-time) corporate tax rate from the previous example; now how do we decide which of these arguments apply? What is an essential government function? How do you validate that a company was going to use that money for production and not for enriching the CEO and upper management? This is vague on purpose, and this and other similar arguments have been used to reduce corporate taxes down to nothing on the mega-corporations, while we are left holding the bag.
He then steps into briefly discussing personal income taxes. I’m not the hugest fan of income taxes in the way they presently exist, I think that they are a method by which unscrupulous politicians basically buy patronage from the voters with their own money, and an elimination of them (at the lower end) would perhaps cause a more nuanced and vigorous discussion of what creates prosperity among the general populace; as opposed to the voters allowing any trespass as long as the elected promise to lower taxes. Yet I can see the lack of justification that Hazlitt has for removing them, and the benefit to society when they are applied in a progressive fashion. That is presently not at all what we have at all in our system, and if they were re-implemented as originally intended with the middle class paying very little and it starting to go up at the upper-middle class levels then it would radically change the dialogue, and quality of life, in the country.
First Hazlitt argues that high income taxes discourage work, but he’s wrong in the following, critical, scenario.
1) Imagine if there was one person in the company that effectively got to choose how much he was paid? If you were given this opportunity, how much would you pay yourself? The allocator of resources in a company (capital investment, money, labor) is primarily the CEO. The CEO has to go through the board in order to approve his wages, but in our modern world with our modern laws and systems of corporate governance this is little more than a formality in many major Fortune 500 companies. But if the CEO wanted to try to convince the board to give him a substantial raise that would make him pay 90% of it in income taxes, the board would have little incentive to let him, and more importantly he would have little incentive in pursuing it himself. This is a multi-causal problem to which having a very high progressive income tax can do much in stopping the abuse of. So what happens to that extra money that would have gone into the pockets of the CEO and upper management if prevented by tax policy? Well, if we look at history, that money was reinvested into the company and it lifted the general people’s standard of living as a function of economic growth. If the pay is effectively `capped’ in this manner, perhaps the CEO and other `higher ups’ will (and should) receive a higher compensation for the importance of their work, in the form of company stocks. This will also encourage them to aim for the long term growth of the company, rather than looting it intentionally or as a by-product of “short-termism” and then diving out with a golden parachute, as is so commonplace today. Economic growth is much higher if there is the maximum amount of reinvestment; this is what the very high progressive income tax promotes. In this system, value creation is rewarded (long term growth) and short-termism and `looting’ is discouraged.
Hazlitt also argues that reinvestment is discouraged by “high levels of taxation”.
2) Assume the CEO got the money in the above scenario (not hard to do, since we live in a world now that has very low income tax rates on this form of abuse). Now what does he do with it? Does he start a new startup company? Not likely at all, after working for a company enough to get a CEO position why start over as a ‘small timer’ again? Why do anything but perform your tenure at the company you’re CEO at and then retire? Entrepreneurs start businesses; people that make a bunch of money in the stock market don’t, people that are existing CEO’s don’t, people that come from dynastic families of great wealth don’t, at least they don’t in any greater observable proportion than the general populace. I would suggest that they are much less likely to become an entrepreneur of a new company – for those of you unaware: the primary point of becoming rich is that you no longer have to work – a novel concept. If you want evidence of this please look at Fortune 500 and who founded them and what their background was, if this ‘theory’ that the rich create jobs and by extension taxing the rich destroys jobs was correct you’d at least expect to see a larger proportional amount of the “a priori rich” in these roles. In summation: A.) People with ideas and the moxy to see them to fruition start businesses, not those with incredible sums of money. B.) Newly founded businesses typically borrow from banks and are self financed by-in-large over the private investor to which lower income taxes benefit.
I know personally a handful of people that make 6 figure salaries a year and they work incredibly hard for that money, and I consider that they truly earned it, and that they are paying too much in taxes at present. And yet their income has a “reality-check” as what they are paid reflects a `market price’ for their services. No such “market-check” or “sanity-check” exists for the upper management of many of these mega-corps; this is the problem that is smoke-screened behind arguments furthered by Hazlitt’s book and his modern contemporaries.
So in this scenario, high income taxes that are progressively applied encourage production. This flies in the face of all Libertarian and “right wing” (whatever that fake dichotomy means anymore) ideology, yet it is what is observed. There is no ideological “general rule”, as promoted by Hazlitt, that you can use to presuppose the outcome of a specific tax without looking at the specifics. But Hazlitt doesn’t want you look at specifics, he is training you to be a reactionary. There are some useful things in this book – as there are in nearly all books. Yet, if a book, such as this one, is about 95% garbage and 5% useful analysis; I’d tell you that there are better places to pan for gold than in an open sewer.
Be mindful that, in this book, in a chapter this small, there are many more fallacies that Hazlitt packs in that I must leave aside for the sake of brevity.
One of the primary reasons justifying these methods of taxation that has hitherto been unmentioned, is if they are progressively implemented, they can prevent the scenario that we are living right now – a political establishment that has been bought with this ill-gotten money. By a willful chiseling away of our laws on taxation, it has empowered a new class of dynastic robber-barons in our modern era.”
Juice Box says:
January 5, 2015 at 9:43 am
re # 26 – Chi I am still waiting for you to post the article about the guy with two mules.
Man with two pen!ses writes tell-all memoir
The author, who calls himself ‘Double D–k Dude,’ came out on a Reddit forum. His book is titled ‘Double Header.’
He doesn’t want you to know his name, but he does want you to know all about his private parts.
After becoming a viral star by leading a question-and-answer forum on Reddit about what it’s like to have two pen!ses, a man who calls himself “Diphallic Dude” and “Double D- -k Dude,” has written a memoir of his members and the rare medical condition called diphallia that created them.
“Double Header” My Life with Two Pen!ses” has been on the market for a week now and is available as an e-book on Amazon.
Only one in 5.5 million are born with the condition. The author, who says he has two 10-inch, fully functioning pen!ses, writes of how his parents did not want to subject him to surgery and so left him as he was at birth. In between details about his childhood and his becoming an adult, the bisexual man included several salacious details about org!es and having sex with 1,000 women.
His Reddit AMA (ask me anything) forum, held last year, drew more than 17,000 comments.
He has not revealed his identity because doing so would mean “my life would never, ever, be the same,” he told Rolling Stone in an interview published Wednesday.
“I’d never be able to do anything the same way again. I’d get asked to take them out and show them to people randomly. That’s not a cool idea if you ask me,” he said.
“the hypocrisy of it.”
Baa.
“…the guy with two mules.”
I had no idea. SFW
http://tinyurl.com/two-mules-one-cup
Nom [21];
Per published advice from a retired NY State Trooper — which agency had exclusive patrol duty over the NYS Thruway, whose lanes I plied often at considerable rate of speed —
You are about equally as likely to get pulled over by an offer having either of two political persuasions; they could be a fan of your favorite sports team or their hated division rival; etc.. When that officer is deciding whether to let you go with a warning, or to paper you, you really don’t want to give him any more reason (subconscious or otherwise) to hang you.
Therefore, you can use your car to speed, or you can use your car as a billboard for personal expression. Just not both.
http://nypost.com/2015/01/04/how-sharpton-gets-paid-to-not-cry-racism-at-corporations/
How Sharpton gets paid to not cry ‘racism’ at corporations
By Isabel Vincent and Melissa Klein
January 4, 2015 | 12:23am
Want to influence a casino bid? Polish your corporate image? Not be labeled a racist?
Then you need to pay Al Sharpton.
For more than a decade, corporations have shelled out thousands of dollars in donations and consulting fees to Sharpton’s National Action Network. What they get in return is the reverend’s supposed sway in the black community or, more often, his silence.
Sony Pictures co-chair Amy Pascal met with the activist preacher after leaked emails showed her making racially charged comments about President Obama. Pascal was under siege after a suspected North Korean cyberattack pressured the studio to cancel its release of “The Interview,” which depicts the assassination of dictator Kim Jong-un.
Pascal and her team were said to be “shaking in their boots” and “afraid of the Rev,” The Post reported.
No payments to NAN have been announced, but Sharpton and Pascal agreed to form a “working group” to focus on racial bias in Hollywood.
Modal Trigger
Sony exec Amy Pascal leaves her hotel after a meeting with Sharpton.
Photo: ZUMAPRESS
Sharpton notably did not publicly assert his support for Pascal after the meeting — what observers say seems like a typical Sharpton “shakedown” in the making. Pay him in cash or power, critics say, and you buy his support or silence.
“Al Sharpton has enriched himself and NAN for years by threatening companies with bad publicity if they didn’t come to terms with him. Put simply, Sharpton specializes in shakedowns,” said Ken Boehm, chairman of the National Legal & Policy Center, a Virginia-based watchdog group that has produced a book on Sharpton.
And Sharpton, who now boasts a close relationship with Obama and Mayor Bill de Blasio, is in a stronger negotiating position than ever.
“Once Sharpton’s on board, he plays the race card all the way through,” said a source who has worked with the Harlem preacher. “He just keeps asking for more and more money.”
Anyone here purchase the get out of jail free card from the Fraternal Order of Police?
$250 gets you off virtually any moving violation for a year. A lawyer for the friend of someone I know suggested they get one as they were approaching losing their license for too many speeding tickets. The dude drives around 90 everywhere he goes and says the card even works with state troopers, not just the local guys.
http://www.stfa.org/200_club_links.html
And don’t try to make a fake membership card. The cards are usually printed on metal making them extremely heavy and difficult to fake.
Joyce, you were aware of them
This house below is listed at $569,000 and being sold in “as is” condition. It’s in the same condition as the piece of sh1t I went to see yesterday. See my link (post 14) above. How come it’s not listed with a “3” handle? And the sellers on this one below had the b.alls to originally ask $675,000.
All you guys talk a lot of sh1t and that’s where it ends. List this one below with a “3” handle and watch how fast I go take a visit. I didn’t even know the one I saw yesterday was listed. I bet it wasn’t on the NJMLS for long, if ever. Again, you guys talk a bunch of sh1t and have all these “can’t lose” strategies. I wish Grim would plan a get-together so I can hear all these wonderful ideas in person.
http://www.njmls.com/listings/index.cfm?action=dsp.info&mlsnum=1431885&dayssince=&countysearch=false
[38] moose,
“Therefore, you can use your car to speed, or you can use your car as a billboard for personal expression. Just not both.”
I practice the former. With a tasteful amount of pro-cop personal expression. There are no political stickers or professional sports teams stickers on my car (college, sure, but not Harvard as cops, especially Mass. cops, have a dim view of the place after Obama insulted the Cambridge Police. Besides, I attended but did not graduate from Harvard so I wouldn’t anyway).
Things to avoid: “Bad Cop, No Donut” or “If you see a cop Warn’a Brotha” stickers, as well as uber-liberal candidates known for bashing cops. Worst right now would be Di Blasio stickers. Obama not great either.
FWIW, this is opinion. Pure and simple. To your point, don’t give the cops a reason to dislike you and having a Di Blasio sticker probably won’t endear you to them. This is all I am saying.
Cali’s card is even better. They offer a lifetime membership?
http://www.chp11-99.org/membership
Gary,
A house is worth what someone is willing to pay for it. I’ve heard it numerous times. Throw out valuations, historical pricing, or any other logical approach. Those days are over. I was outbid 3 times in a month. My realtor never came up with CMA within 40k of the ask yet someone paid ask or over each time. You have to have a pristine product though. I laugh at all fools with crummy homes thinking they will catch a sucker. There are suckers but they are ones fascinated by HGTV and Pottery Barn catalogs who overpay for Ikea kitchens, shotty work and cheap finishes.
How would this bumper sticker work?
http://tinyurl.com/This-bumper-sticker
I drive worse than I did in my 18-30 year period and have not got a ticket in over 20 years.
My cars are more bland and boring and are invisible.
My Earl Schrieb 19.95 paint job car that was a rolling wreck and eyesore attracted so much cops I actually got a moving violation at a red light while sitting still. They just harrassed me to no end.
[34] Michael,
I would not rely on that review to gauge the usefulness (or lack thereof) of Hazlitt’s tome.
The author of the review uses fallacies that are just as equally flawed, if not more so, than the arguments he attempts to tear down (and I have not read Hazlitt so I cannot say if I agree that his arguments are fallacious, only that the reviewer’s are a joke). His counterexamples were so ridiculous, it was all I could do to keep from laughing myself silly while reading it.
More millennial moronics. States SHOULD defund the university departments that result in such awful thinking.
[45] JJ
I can’t resist.
“I actually got a moving violation at a red light ”
Wasn’t about you or the car, it was her head bobbing up and down that constituted the moving violation.
Bystander,
I understand what you’re saying. The sh1t job I went to see yesterday was slapped together and glossed over. The property s.ucked but what I want to know is why I can’t seem to find the piece of sh1t with a “3” or even a “4” handle. We were considering one house that was listed in the low 400s that needed a total do-over but the deafening sound of a major highway was too much to overlook. It seems like every piece of sh!t that’s available is in the upper 500s to low 600s. Take just about every public listing and it’s dog sh1t. I’m not paying some stup1d price to overhaul a house for an additional $150,000.
Gary,
You should have bought when Grim and I did.
http://i442.photobucket.com/albums/qq145/stuw6/zest_zps246f3acb.png
Fast Eddie, the first non-ugly house for sale in Woodcliff Lake is $879K.
http://www.realtor.com/realestateandhomes-detail/15-Stonewall-Ct_Woodcliff-Lake_NJ_07677_M55792-48212?row=12
It therefore appears your options are:
1) Learn to love ugly.
2) Increase your budget.
3) Look in another town.
4) Be ready to make an offer 5 minutes after seeing the first non-ugly house in your price range, even if it has green carpet (which is easily changed).
You don’t seem ready for the first 3 options, but are you ready for the 4th? Can you write a check today (not after transferring funds over a few days) for 20% down? If not, you’re not ready to buy.
[49] libturd,
And now you are living large in your palatial Stu-dor Mansion.
Still, was a sick deal. I’m really hoping Gary finds one. Much tougher in my-sh1t-don’t-stink Bergen County than in crime ridden Essex County. :P
@Doug_Bandow: Call for conservative coup against House @SpeakerBoehner. http://t.co/N3hXQwmKUr Problem: many conservatives pro war, anti-civil liberties.
State govt contributions have increased, in absolute terms. They have decreased as a percentage of the overall per pupil cost. One can infer the govt.’s are ruthlessly “slashing” their funding… however, I will blame it on the cost of education increasing higher and higher due to the availability of cheap credit.
@AllenRWaters: How Sharpton gets paid to not cry ‘racism’ at corporations http://t.co/ArZY1jnJJM via @nypost
1) Learn to love ugly. – For the real price, not a dream price.
2) Increase your budget. – Not a problem. Appeal to my emotions and I might cave.
3) Look in another town. – I have 6 or 7 in consideration.
4) Be ready to make an offer 5 minutes after seeing the first non-ugly house in your price range, even if it has green carpet (which is easily changed). – Show me the house. One stipulation: I refuse to step into bedrooms that will only fit a single size bed.
And, I’ll write a check with at least 20% down.
[55] toxic,
Old news. Jesse Jackson used the same tactic frequently and to good effect.
When I did banking law, deals btwn banks required approval and afforded a chance for public comment. The community groups would flood in to oppose but they were all looking for $$$ from the banks’ CRA officers.
One time, a group that had received CRA $ from a client opposed the client’s deal. I pointed this out to the CRA officer who replied “Yeah, they’re gonna get a call from me today.”
“The Washington DC-area is now the most millennial-soaked region in the country”
Shocker – sucking off the government teet is popular with the millennial generation.
Hate to get off topic Iwhatever the topic happens to be) but we did see min. wage increases go into effect recently.
Here is a pretty good study that highlights what to expect:
http://www2.gsu.edu/~ecobth/IZA_HKZ_MinWageCoA_dp6132.pdf
In the end, it is usually much ado about nothing and the effects the majority agree upon will come to pass. Water seeks its own level.
Cheetah Robot Sprints and Jumps UntetheredOn average, a human can run approximately 12 to 15 mph not bad if you’re chasing down an errant Frisbee on a Sunday afternoon. But what about during an emergency? In moments like such, speed can often mean the difference between life and death. Add 60 pounds of protective gear and equipment that first responders often wear and speed and agility become a sluggish after thought.Is there anyone or anything else to turn to for a speedy rescue?”You can always
Why did I ever think that Minnesota in January was ever a good idea.
JJ’s name on MS uber rich client exposed?
I was there in December and it was brutal. Which parts Grim?
Real feel of -19. Sweet. Was there once when it got down to -20. The water lines on our Embraer froze so no coffee or bathroom on flight back to Newark. The plane itself was 20 degrees until we were aloft as it had sat on the tarmac overnight. Kind of wild to see your own breath inside of a plane.
Dallas at Green Bay – game time temperature around 10 degrees. I hope Romo’s fingers fall off.
Gary,
I hear ya. I see same thing. Disgusting homes priced at 500k that need everything. I can buy a nicely updated home for 560k so why take on the headache. I blame HGTV, specifically Property Brothers (I call them the Fitzpatrick Brothers if you know the joke about the two gay Irishmen) Flip or Flop and Love it or List it. These are basically only shows on HGTV now and all center around dumpy houses being dream like updates for 90k within a few weeks time. Of course, sheeple don’t factor in the free labor and supplird, free merchandise and numerous other advantages they won’t receive once they buy their dump. That must be it.
At least there are no mosquitoes….
It’s always warm inside the Mall of America. See it now before it expands to double its size. Heck, it’s more Americana than Disneyworld. It has more than double the number of annual visitors as the Magic Kingdom does.
(32,33,et al) We also have PBA stickers on our rear driver side windows. Joyce, her school is considered a ‘baby Ivy’ school and she has received considerable $$ for playing volleyball there, Div 3, hee hee.
Best education available for the money. She hobnobs with the sons/daughters of very rich people. Avg family income of student is $166k. Looking for a man overthere is definitely not out of her thoughts, hee, hee.
She really wanted to go so bad to Suwanee (spelling??) in Tennessee. We sort of talked her out of that one.
Problem is, of course, is the left wing types can do anything they want without retribution. Not so, for those ideologically opposed. They’re all free thinkers there. Didn’t anybody tell you? How could you be so obtuse?
Happy [58];
Shocker – sucking off the government teet is popular with the millennial generation.
Their grandparents, the Locust Generation, show them how its done.
56 – Gary,
I purchased a few years back, late 2011-ish, at what I was hoping was the bottom for our area. Turns out I will be lucky to break even in 2 years time (2017 hopefully) when we need to move.
Usual reasons for the expected loss… continued house depreciation, needed updates, etc.
We only bought a starter home and managed to knock 20% off the sellers price which put us in a good position to start with. Literally a sh!tbox by your standards (hell, probably even mine) but it was enough for us at the time. It saddens me that we are expecting a break-even scenario as best case, but buying cheap and small means our “loss” will be under 20K all things compared.
A loss is a loss and 20K is painful, but you also have to live somewhere. I can only recommend you drive a little further from your prestigious blue ribbon areas and limit your risks that way. Your appetite for high payments with potential depreciation has you stuck in a very vocal holding pattern.
You fit the definition of Insane, visiting the same type of homes again and again thinking something is going to change this time.
A Home Buyer [71],
I can’t disagree with anything you’ve said. The only thing I would add is that I don’t care about the higher payments (as long as I can swing them, obviously) or the time horizon on appreciation. What I want is a house that I really like. And I’m not paying a premium price for a piece of dog shit in a hyped up town. Too many people made too many f.ucked up financial decisions and it’s the reason this blog exists in the first place. That’s not my problem, it’s their problem.
Problem with waiting for a house you really like is that time does not stand still. You could be asking yourself 5, 10 years from now: Where did the the time go? Wow, the kids are all grown up. What was I thinking? We should have…could have….
If your time horizon is 6 years, why on earth did you buy a house?
73 – Xolepa,
You need to think outside the box if that’s your concern.
http://www.cryonics.org/
Freeze Dry your family (maybe keep the dog) and in 25 years you can have you cake and eat it too.
Stu (68)- does Mall of Amerika still have gangs?
166k is the income of a 26 year old newlywed couple around here. More like 500K
Xolepa says:
January 5, 2015 at 1:52 pm
(32,33,et al) We also have PBA stickers on our rear driver side windows. Joyce, her school is considered a ‘baby Ivy’ school and she has received considerable $$ for playing volleyball there, Div 3, hee hee.
Best education available for the money. She hobnobs with the sons/daughters of very rich people. Avg family income of student is $166k. Looking for a man overthere is definitely not out of her thoughts, hee, hee.
C’mon xolepa: Bowdoin or Bates?
Glad to see chi chronicling the truly fcuktarded for our edification and entertainment…
74 – Grim,
No legitimate reason that sounds good once its said 6 years later staring down a loss.
I am much more financially savy then my spouse and was dead set against a house. I unfortunately sounded a lot like Gary at the time.
I gave the spouse a set of criteria (property tax, price, location, etc.) that if met, I would consider the house for purchasing. At the time, I had been following the market for a few years and figured the criteria I listed would not be easily achieved.
Well… my spouse managed it. This house was nothing grand and need a bit of work we mostly did ourselves and we learned a great deal about ourselves in the process. Not the cutesy stuff mind you, I am talking about our tolerance for house choirs, renovations, upkeep, what we actually need vs the luxury items, etc. We also learned we have a dis-like for stairs when considering children and some things cannot be overlooked even if you tell yourself they can be.
Lessons that you can be told, but are ultimately ignored until you stumble into them yourself. Then other factors came into play like my spouses’s family and their sudden migration out of state. My families now planned migration from state. The continued economic ills of North New Jersey. My spouse’s disdain for aspects of her career and where she currently is positioned. My new position and its flexibility. All things that 3 years ago we could not have expected.
On the bright side, had we bought a more expensive house based on our still idealistic views at the time, we could have be seriously screwed and appearing on one of those HGTV shows.
I figured with the market showing signs of stabilizing, the time frame would allow the house price to move sideways and we could sell for our purchase in the short time frame. Compared to our absurd apartment rent, it seemed conservative enough of an assessment. We went into this transaction knowing a loss was a real possibility. (I have spreadsheets galore)
The problem came when house value tanked an additional X%.
With all said and done, even though the house price is down, breaking even when compared to our known rent rates is still possible and probable. I’m just still planning on selling for a “relative” loss and not having anything to show for the house when compared to renting.
Best Accident in Years in front of my house today. Mind you this is a 30mph zone with stop signs around every 200 feet as I only live two blocks from elementary school.
So we got an old man in some little new Japanese car going one way and a teenage in an old American car going the the other way at the normal high speed maybe 60 mph plus.
Teenage looses control clips sidewalk sewer curb and car flips over on side and then sliding sideways goes head on into the Japanese car so hard it rips the hood off of it and thows it on the neighbor yard and car is completely totaled.
I can imagine driving down the road at 3o mph on a sidestreet and have a large old american car sliding on it side head on into me.
Funky stuff as school lets out 305 and there could have been a ton of kids on sidewalk.
No body hurt other than old guy was in a bit of a daze.
(77) That answer is irrelevant, JJ and you know it.
Clot, cops don’t know the difference between Tufts and Tucks. That’s why they’re cops.
Brings me to thought: 30 years ago I was training a young chap, about 24 years old, on an IT project for a fortune 50 firm. Kid didn’t like IT, said he wanting to be a state trooper. I looked at him and said go for it, gave him some inspiration. He made the cut and served well.
A year ago I saw a statee at Chipotle in Bridgewater waiting on line, asked him what was up with my old buddy.
My guy retired a year prior with full benefits.
What’s wrong with the picture?
Irrelevant, and wrong… (big shocker).
26 year old married couple in NYC? Yeah OK. Maybe in other parts of the country making less than the us median salary.
Xolepa says:
January 5, 2015 at 5:04 pm
(77) That answer is irrelevant, JJ and you know it.
JJ says:
January 5, 2015 at 4:05 pm
166k is the income of a 26 year old newlywed couple around here. More like 500K
Luge…MOA gangs.
Like the Rainforest Cafe Crips, Footlocker Bloods or my favorite, the Chess Kings?
It’s not if you can write the check, but if you can write the check today (not tomorrow, not in 3 days).
That’s the difference between being the first offer, and the 10th offer, when that rare property hits the market.
“And, I’ll write a check with at least 20% down.”
#80
Twenty grand underwater ain’t nothin’ (if that’s really market value. What do I mean by ‘market value’? Something priced to sell in a week).
Don’t know the details of your dwelling but if you’re even mildy handy the gap could be closed for pennies on the dollar and, quickly. Look for materials on Craigslist at Habitat for Humanity ect. Watch DIY Youtube videos. I WISH these resources where available when I was just married!
Don’t sweat it, live and learn. I know people hundreds of thousands in the red with real estate (I’m NOT one).
You’ll look back years from now and say “I/we lost sleep over THAT! LOL”.
*Note – relatives go where they go. Is that where you want to go? Been there or should I say didn’t go there. It’s YOUR life (as a couple). Do what YOU want.
BTW – Where do you think you’re going to want to live? (and start a family, if that’s what you want).
NJ is still affordable but not as easy as it was even a decade ago. Work smart, hard and be realistic. No ‘easy button’ anymore.
– End of ranting advice.
Assuming, inflation-adjusted, something like this was about $100 in 1984 it would have likely been my first post-college purchase. Instead I went to Sears and spent about the same on medium-large set of Craftsmen socket wrenches and a tool box.
Libturd in Union says:
January 5, 2015 at 11:20 am
Anyone here purchase the get out of jail free card from the Fraternal Order of Police?
$250 gets you off virtually any moving violation for a year. A lawyer for the friend of someone I know suggested they get one as they were approaching losing their license for too many speeding tickets. The dude drives around 90 everywhere he goes and says the card even works with state troopers, not just the local guys.
http://www.stfa.org/200_club_links.html
And don’t try to make a fake membership card. The cards are usually printed on metal making them extremely heavy and difficult to fake.
Joyce, you were aware of them
Clot p0rn. God bless America.
https://m.youtube.com/watch?v=UVSTzcPuarA
oooooh guys…..make me Presudent…….
https://www.youtube.com/watch?v=3Ls7wuxL4HY
Jeb be all like:
https://www.youtube.com/watch?v=3fa4HUiFJ6c
Xolepa (82)-
Hoo boy…my son is taking a long look at that skool. Soccer player…
Just thought it was a large skool with lots of pre-professional types. Didn’t know about the white guilt and self-loathing. Is your daughter amused or annoyed by it?
Toxic (88)-
Those girls all need a few weeks of Jenny Craig. Also, maybe a gun safety course or two.
Xolepa,
Next time you’re at the Bridgewater Chopotle, give me a heads up, I work just a few minutes from there.
Bye Bye Cable box.
http://www.slate.com/blogs/moneybox/2015/01/05/dish_network_sling_tv_announcement_at_ces_you_can_now_watch_espn_without.html
Kid Rock showing very balanced views on issues. I may not agree with him on everything, but I can respect the positions he takes. He is a stark contrast from Ted Nugent.
http://www.theguardian.com/music/2015/jan/03/kid-rock-this-much-i-know
Great advice!
NJT says:
January 5, 2015 at 5:58 pm
#80
Twenty grand underwater ain’t nothin’ (if that’s really market value. What do I mean by ‘market value’? Something priced to sell in a week).
Don’t know the details of your dwelling but if you’re even mildy handy the gap could be closed for pennies on the dollar and, quickly. Look for materials on Craigslist at Habitat for Humanity ect. Watch DIY Youtube videos. I WISH these resources where available when I was just married!
Don’t sweat it, live and learn. I know people hundreds of thousands in the red with real estate (I’m NOT one).
You’ll look back years from now and say “I/we lost sleep over THAT! LOL”.
*Note – relatives go where they go. Is that where you want to go? Been there or should I say didn’t go there. It’s YOUR life (as a couple). Do what YOU want.
BTW – Where do you think you’re going to want to live? (and start a family, if that’s what you want).
NJ is still affordable but not as easy as it was even a decade ago. Work smart, hard and be realistic. No ‘easy button’ anymore.
– End of ranting advice.
Do you suffer from KIDNEY DISEASE? Do you know that, according to latest researches, DIALYSIS IS NOT NECESSARY? A friend of mine got off dialysis (stage 5 CKD) and healed his kidney. Take a look: