From the WSJ:
Case-Shiller Home Price Index Climbs Modestly in February
Home prices continued to rise modestly in February, according to a report released on Tuesday, a continued upward push in home values which underscores concerns that buyers’ incomes aren’t keeping pace.
The S&P/Case-Shiller Home Price Index, covering the entire nation, rose 4.2% in the 12 months ended in February, weaker than a 4.4% increase in January.
The housing market has been gaining strength in recent months, but some economists fear the improvement is fragile because wages haven’t kept pace with price increases.
“Home prices continue to rise and outpace both inflation and wage gains,” said David Blitzer, managing director and chairman of the Index Committee at S&P Dow Jones Indices.
Still, Mr. Blitzer cautioned that only two markets—Denver and Dallas—have surpassed their prerecession housing boom peaks. “If a complete recovery means new highs all around, we’re not there yet,” he said.
Both the 10-city and 20-city indexes saw larger year-over-year increases in February than in January. The 10-city index gained 4.8% from a year earlier, up from 4.3% in January. The 20-city index gained 5% year-over-year, compared with a 4.5% increase in January.
Economists surveyed by The Wall Street Journal expected a 4.8% increase in the 20-city index.
Good morning New Jersey
the Orioles said this?
“”That said, my greater source of personal concern, outrage and sympathy beyond this particular case is focused neither upon one night’s property damage nor upon the acts, but is focused rather upon the past four-decade period during which an American political elite have shipped middle class and working class jobs away from Baltimore and cities and towns around the U.S. to third-world dictatorships like China and others, plunged tens of millions of good, hard-working Americans into economic devastation, and then followed that action around the nation by diminishing every American’s civil rights protections in order to control an unfairly impoverished population living under an ever-declining standard of living and suffering at the butt end of an ever-more militarized and aggressive surveillance state.
The innocent working families of all backgrounds whose lives and dreams have been cut short by excessive violence, surveillance, and other abuses of the Bill of Rights by government pay the true price, and ultimate price, and one that far exceeds the importances of any kids’ game played tonight, or ever, at Camden Yards. We need to keep in mind people are suffering and dying around the U.S., and while we are thankful no one was injured at Camden Yards, there is a far bigger picture for poor Americans in Baltimore and everywhere who don’t have jobs and are losing economic civil and legal rights, and this makes inconvenience at a ballgame irrelevant in light of the needless suffering government is inflicting upon ordinary Americans.”
but isn’t the market always right?
on what basis you price them at $700k?
Wily Millenial says:
April 27, 2015 at 8:40 pm
I massively underestimated every price. $700K houses going for $1.5M imo.
3. I get the sarcasm but the market is actually correct for the prevailing conditions at the time. Good luck buying anything under market.
The Madison market is priced ‘correctly’ given the (higher) prices in adjacent towns, the lack of inventory in the area, the ability of buyers there to source a large downpayment, the attractiveness of those buyers as mortgage borrowers, and the ridiculously low borrowing rates.
That’s different from inherent value.
Same reason pets.com was worth $300m in a Feb 2000 IPO while it liquidated less than a year later. Both values were correct. IPO reflected the market at the time. Liquidation shortly thereafter reflected changed market and no inherent value.
Fast eddie and bystander types, please play close attention to this post, it will save you a lot of complaining about house values.
leftwing says:
April 28, 2015 at 8:54 am
3. I get the sarcasm but the market is actually correct for the prevailing conditions at the time. Good luck buying anything under market.
The Madison market is priced ‘correctly’ given the (higher) prices in adjacent towns, the lack of inventory in the area, the ability of buyers there to source a large downpayment, the attractiveness of those buyers as mortgage borrowers, and the ridiculously low borrowing rates.
That’s different from inherent value.
Same reason pets.com was worth $300m in a Feb 2000 IPO while it liquidated less than a year later. Both values were correct. IPO reflected the market at the time. Liquidation shortly thereafter reflected changed market and no inherent value.
What you are seeing has nothing to do with race and everything to do with social inequality. I’ve been hammering this message for a good 3 years. The elite class is going to push so far that they will be left with nothing. Why they don’t get this is beyond me. You don’t get to make a billion dollars and then forget about everyone else. It doesn’t work like that. With lots of money comes responsibility. Don’t like it, then get rid of some of your money.
Occupy Wallstreet was the first canary in the coal mine. It dissipated, but new restlessness has been growing. These riots have nothing to do with race besides “race” being the spark. These people are raging because they are fed up with their life. They have no jobs, no purpose, and are left to sit idly all day filling the void with negative thoughts. All it takes is a cop to hurt or kill one of the members of their community for all hell to break loose. If they had jobs and a purpose, do you think these people would be so quick to protest and riot? The writing is on the wall, they better get some jobs and wage inflation going, or this is only going to spread and get worst. Do we really want to become a third world nation with extremes in the rich and poor?
anon (the good one) says:
April 28, 2015 at 7:15 am
the Orioles said this?
“”That said, my greater source of personal concern, outrage and sympathy beyond this particular case is focused neither upon one night’s property damage nor upon the acts, but is focused rather upon the past four-decade period during which an American political elite have shipped middle class and working class jobs away from Baltimore and cities and towns around the U.S. to third-world dictatorships like China and others, plunged tens of millions of good, hard-working Americans into economic devastation, and then followed that action around the nation by diminishing every American’s civil rights protections in order to control an unfairly impoverished population living under an ever-declining standard of living and suffering at the butt end of an ever-more militarized and aggressive surveillance state.
The innocent working families of all backgrounds whose lives and dreams have been cut short by excessive violence, surveillance, and other abuses of the Bill of Rights by government pay the true price, and ultimate price, and one that far exceeds the importances of any kids’ game played tonight, or ever, at Camden Yards. We need to keep in mind people are suffering and dying around the U.S., and while we are thankful no one was injured at Camden Yards, there is a far bigger picture for poor Americans in Baltimore and everywhere who don’t have jobs and are losing economic civil and legal rights, and this makes inconvenience at a ballgame irrelevant in light of the needless suffering government is inflicting upon ordinary Americans.”
@pdacosta:
“Social justice and progress are the absolute guarantors of riot prevention.” – #MartinLutherKing
offered without comment:
http://abc7.com/news/video-angry-baltimore-mom-beats-son-suspected-of-rioting/684791/
God damn America!
“Jeri L. Wright, the daughter of President Barack Obama’s controversial former pastor, was headed to jail Monday after a judge revoked a deal that allowed her to remain free as she awaits sentencing on a money-laundering conviction.
U.S. District Judge Sue E. Myerscough ruled there was probable cause to believe Wright committed a separate theft while on bail, thereby violating terms of her supervised release, according to Sharon Paul, a spokeswoman for the U.S. attorney’s office in the Central District of Illinois.
The judge ordered Wright, who appeared in court in Springfield, to be taken into custody by U.S. marshals.
Wright, 49, of Hazel Crest, is the daughter of the Rev. Jeremiah Wright, the Chicago minister known nationwide for the controversy his sermons created for Obama in the 2008 presidential election. Last March, Jeri Wright was found guilty of money-laundering, lying to federal investigators and lying to a grand jury over her role in a state grant-fraud scheme orchestrated by one of her childhood friends, former Country Club Hills Police Chief Regina Evans.”
http://defund.com/chickens-come-home-to-roose-rev-jeremiah-wrights-daughter-sent-to-prison/?utm_source=Outbrain_A
Rumor has it that Bank Of America bought the old Merck site in Readington, just a rumor
I don’t disagree, mark em to market.
If you have 3M to spend there are still plenty of places to spend it where you can’t hear your neighbors flush the toilet.
Fast eddie and bystander types, please play close attention to this post, it will save you a lot of complaining about house values.
What happens if lending rates and/or inventory numbers start to rise significantly?
Rate rise expectations are already priced in IMO. The discount on stocks is mostly gone too.
Lack of jobs will lead to this. One needs only to look at the middle east to see what it leads to. Idle hands are the devil’s workshop.
Rate rise expectations are already priced in IMO
I totally disagree. The common muppets can’t think past this week and have no concept other than the monthly payment.
Wow, Pumpkin first agreeing with me and now I with him. May have to go out and buy a lottery ticket with those odds.
“What you are seeing has nothing to do with race and everything to do with social inequality”
Race does appear at first glance to be the issue but only because of probabilities. Most criminal activity in cities is in minority areas so will have some racial aspect. The key issue in these and other locales is social inequality.
The social inequality we are witnessing today is more complicated than just the super-elite though. Those disaffected cannot distinguish between millions and billions and you can’t tax the top 10% enough to even make a dent in the current fiscal mess. It has little to do with the Forbes 400 or Necker Island.
The social inequality today more relates to a tangible overclass that is becoming more entrenched with little mobility or accountability to the underclass.
The overclass can be private sector (financial) or public (teachers, firefighters, and cops). It is tangible – the underclass sees the benefits accruing to the overclass each day. The overclass is close enough to be attainable but yet just out of reach for the underclass. Partly as a result many in the underclass view the benefits accrued by the overclass as inherently unfair for the role performed. And the line between the overclass and underclass is becoming more permanent and mobility between the two more limited.
To the above mix in public misdeeds by the overclass perpetuated on the underclass for which they are not held accountable and you have ignition.
It is as offensive to me that dozens of Wall Streeters are not incarcerated as a result of the 2008 as the fact that there is still no explanation of how and by whom a detainee’s spine was fatally fractured.
Different sides of the same coin. Membership has its privileges. Until it doesn’t. As grim said, gonna be a long hot summer. And that may not be a bad thing.
Yes, the turmoil in Baltimore clearly shows the need for the following reforms:
End welfare dependence, which robs individuals of the motive to strive for meaningful careers, end the government monopoly on schools which damages their ability to learn and develop skills, abolish minimum wages and union protection which blocks the poor from getting their foot on the ladder of gainful employment, and decriminalize drugs, which incentivizes participation in criminal, violent black markets while raising the prices of drugs.
Everything you have stated, esp the first cue of ending welfare, will make this significantly worst than it already is. Also, stop blaming schools, schools have nothing to do with the effects of the economic system. Stop blaming schools/education for why someone is poor and left with a feeling of hopelessness. Schools didn’t do that and can’t fix that. The economics must be fixed.
If everyone suddenly got a good education and went to college, we would still be left with the same exact problems…..no good jobs and not enough jobs!! So keep advocating for cheaper wages and the cutting of jobs in the name of profit for the select few at the top (stock holders and executives).
Ragnar says:
April 28, 2015 at 9:49 am
Yes, the turmoil in Baltimore clearly shows the need for the following reforms:
End welfare dependence, which robs individuals of the motive to strive for meaningful careers, end the government monopoly on schools which damages their ability to learn and develop skills, abolish minimum wages and union protection which blocks the poor from getting their foot on the ladder of gainful employment, and decriminalize drugs, which incentivizes participation in criminal, violent black markets while raising the prices of drugs.
Fox news
Funny story but it sounds to me Like these students are absolutely ready and perfectly prepared for management positions.
The professors claims the students act entitled, They lie, they cheat, Threaten, and are unconcerned for other’s
Future CEO”S all!
PS not backing the professor, He’s probably an opinionated entitled jerk also thats why he had a tantrum
Texas A&M professor flunks class & quits mid semester
“I am frankly and completely disgusted,”Texas A&M Galveston, Professor Irwin Horwitz told his business management students in a blast e-mail, according to Inside Higher Ed. “You all lack the honor and maturity to live up to the standards that Texas A&M holds, and the competence and/or desire to do the quality work necessary to pass the course just on a grade level.
“I will no longer be teaching the course, and [you] all are being awarded a failing grade.”
Horwitz said students had cheated, told him to “chill out,” called him a “[expletive] moron” and spread false rumors about him. He told KPRC news he even felt unsafe in the classroom at times.
“None of you, in my opinion, given the behavior in this class, deserve to pass, or graduate to become an Aggie, as you do not in any way embody the honor that the university holds graduates should have within their personal character,” he wrote to the students.
Horwitz has taught at Texas A&M since 1994 and has won recognition for both research and teaching. He told Inside Higher Ed that he had rarely failed students throughout his teaching career, but had never come across as terrible a class as his spring 2015 management course.
Christie lights a fuse again.. This time Social Security.
http://www.nj.com/politics/index.ssf/2015/04/christie_wants_social_security_as_emergency_povert.html
No details on his plan, but I’m sure that those already receiving will be “grandfathered.”
So Christie, you want to raise the age.. Raise it today and cut off all of those receiving until they reach that age. Cut off the 200k plus, start it today, no “grandfathering.”
Same with Medicare. Cut the amount eligible to receive, cut it today to ALL CURRENT recipients, lets not do a “phase-in.”
Eddie would then be able to buy a house with no problem as grandpa and grandma would have to sell in order to pay their “fair share.”
19. They learned from the masters, not from the professor.
Re: Madison
“If you have 3M to spend there are still plenty of places to spend it where you can’t hear your neighbors flush the toilet.”
Agree wholeheartedly. My list of where to drop $3m is nearly infinite above ‘on any home in any town in NJ on a 3/4 acre lot’.
“What happens if lending rates and/or inventory numbers start to rise significantly?”
Ka-boom. Market, meet inherent value.
Great analysis and I can’t say that I don’t totally agree. Only thing I disagree with is the govt jobs. The govt jobs are only starting to look good as a result of the pathetic job prospects in the private industry. The private industry has been in an all out attack on their workers. Sucking them dry. As a result of years of taking it in the a$$ in the wage department, govt jobs are starting to look good because their jobs have been protected by strong unions. So they have been getting raises to keep up with inflation. Private sector has gotten the crap kicked out of it. So all of a sudden govt jobs look “desirable”. If that doesn’t tell you something is wrong (that the govt jobs are beating private sector jobs) than I don’t know what will. Thank the elite, who claim their business can’t compete unless they ship the jobs and use cheap(slave) labor. Soon they will find out that the market can’t function without a consumer that’s doesn’t have money to consume. The govt can’t be the only creator of good jobs. The economy will soon tumble over without wage inflation in the private sector.
I’m just glad that more and more people are starting to realize this. Before you were accused of being jealous of the 1% or a lefty for questioning the economic inequality and the consequences it has on our economic system and society. Now you have executives beating the drum and I say “about time”!!!! These (executives) are the only people capable of putting this economy back together, thank goodness they are starting to open their mind instead of screaming for more job cuts and lower raises as a means to more profit.
leftwing says:
April 28, 2015 at 9:46 am
Wow, Pumpkin first agreeing with me and now I with him. May have to go out and buy a lottery ticket with those odds.
“What you are seeing has nothing to do with race and everything to do with social inequality”
Race does appear at first glance to be the issue but only because of probabilities. Most criminal activity in cities is in minority areas so will have some racial aspect. The key issue in these and other locales is social inequality.
The social inequality we are witnessing today is more complicated than just the super-elite though. Those disaffected cannot distinguish between millions and billions and you can’t tax the top 10% enough to even make a dent in the current fiscal mess. It has little to do with the Forbes 400 or Necker Island.
The social inequality today more relates to a tangible overclass that is becoming more entrenched with little mobility or accountability to the underclass.
The overclass can be private sector (financial) or public (teachers, firefighters, and cops). It is tangible – the underclass sees the benefits accruing to the overclass each day. The overclass is close enough to be attainable but yet just out of reach for the underclass. Partly as a result many in the underclass view the benefits accrued by the overclass as inherently unfair for the role performed. And the line between the overclass and underclass is becoming more permanent and mobility between the two more limited.
To the above mix in public misdeeds by the overclass perpetuated on the underclass for which they are not held accountable and you have ignition.
It is as offensive to me that dozens of Wall Streeters are not incarcerated as a result of the 2008 as the fact that there is still no explanation of how and by whom a detainee’s spine was fatally fractured.
Different sides of the same coin. Membership has its privileges. Until it doesn’t. As grim said, gonna be a long hot summer. And that may not be a bad thing.
[13] WM – So the current inventory is already *discounted* for future rate hikes? hahahahahahah
Rate rise expectations are already priced in IMO.
[17] Rags – I’d take all of this and I’ll raise you one: Lower the age of adulthood to 16 for *everything*. Run for office, buy a car, start a business, rent an apartment, buy drugs, buy alcohol. Everything. This would pull opportunity, responsibility, and accountability forward into the lives of urban youth who can’t even imagine being alive or not incarcerated by age 21.
Yes, the turmoil in Baltimore clearly shows the need for the following reforms:
End welfare dependence, which robs individuals of the motive to strive for meaningful careers, end the government monopoly on schools which damages their ability to learn and develop skills, abolish minimum wages and union protection which blocks the poor from getting their foot on the ladder of gainful employment, and decriminalize drugs, which incentivizes participation in criminal, violent black markets while raising the prices of drugs.
Maybe the problem is, too many of us have become fat, lazy and stoopid.
[25] This would indirectly lower the cost and improve the quality of both primary and secondary education, as well as allow the market to allocate resources more efficiently to the right education paths.
Social Justice
Video: ANGRY BALTIMORE MOM BEATS SON AFTER SEEING HIM THROW ROCKS AT POLICE
http://abc7.com/news/video-angry-mom-beats-son-suspected-of-rioting-in-baltimore-on-live-tv/684791/
This isn’t new; cops interaction with a suspect resulting in death. If I am a mayor / governor; I would take a close look at Ferguson and Baltimore riots. In situations like this, the public officials response can either calm the situation or light a match. Both times, the public officials have not given any information (whether or not an investigation is ongoing, the status of the officer(s) in question). Their response was nothing! Which leads the public to speculation. Add in lack of jobs or something to occupy their free time…boom, you have discourse.
That said, the city of Baltimore has paid out close to $6mm to victims due to injuries related to being handcuffed in a steel van. Call me crazy but I wouldn’t want to make these unnecessary payouts and would make a change.
Send in 500 angry black mothers in riot gear.
Great analysis and I can’t say that I don’t totally agree. Only thing I disagree with is the govt jobs. The govt jobs are only starting to look good as a result of the pathetic job prospects in the private industry. The private industry has been in an all out attack on their workers. Sucking them dry. As a result of years of taking it in the a$$ in the wage department, govt jobs are starting to look good because their jobs have been protected by strong unions. So they have been getting raises to keep up with inflation. Private sector has gotten the crap kicked out of it. So all of a sudden govt jobs look “desirable”. If that doesn’t tell you something is wrong (that the govt jobs are beating private sector jobs) than I don’t know what will.
You don’t know what you are talking about. You are looking at a base salary number from a database and assuming a raise was given. I’ve gotten 4 advancements on the salary guide in six years. Meanwhile, my pension contribution was increased by law. My health care contribution was increased twice.
Overall, $4k is raises offset by $6k in contributions. Over the course of six years, as a teacher, I’ve taken a $2k hit. That hasn’t happened in the private sector for employees that have kept their job. The public unions don’t negotiate high salaries. They keep their members at meager raises at best while the union leaders negotiate promotions for themselves. It’s an age old game that’s been played for a century.
You are both over thinking it. Baltimore police have it right:
Baltimore Police @BaltimorePolice
Several juveniles are part of these aggressive groups. WE ARE ASKING ALL PARENTS TO LOCATE THEIR CHILDREN AND BRING THEM HOME.
The Original NJ ExPat says:
April 28, 2015 at 10:21 am
[17] Rags – I’d take all of this and I’ll raise you one: Lower the age of adulthood to 16 for *everything*. Run for office, buy a car, start a business, rent an apartment, buy drugs, buy alcohol. Everything. This would pull opportunity, responsibility, and accountability forward into the lives of urban youth who can’t even imagine being alive or not incarcerated by age 21.
Yes, the turmoil in Baltimore clearly shows the need for the following reforms:
End welfare dependence, which robs individuals of the motive to strive for meaningful careers, end the government monopoly on schools which damages their ability to learn and develop skills, abolish minimum wages and union protection which blocks the poor from getting their foot on the ladder of gainful employment, and decriminalize drugs, which incentivizes participation in criminal, violent black markets while raising the prices of drugs.
[28] D
She is the real hero.
Need some good news
Anonymous Good Samaritan pays off mudslide victim’s mortgage
Tim Ward last heard his wife’s voice on March 22, 2014. Brandy called out his name from the kitchen just before the mudslide hit their Oso, Wash., farmhouse. The impact killed Brandy and left Tim badly injured.
In the year since the country’s deadliest mudslide killed 44 and destroyed dozens of homes, Tim Ward has been trying to piece his life back together. But the mortgage on the now-destroyed home continued to weigh on him.
“It was like the elephant sitting on your chest,” Ward told NBC News. “You knew it was there, you knew you still had to take a deep breath, but it was very hard.”
An anonymous donor heard of Ward’s plight on the news and has now come to his aid by paying off the mortgage. All $360,000 of it.
“There are still Good Samaritans out there,” Ward told NBC News. “This is life-changing.”
http://www.washingtonpost.com/news/morning-mix/wp/2015/04/27/anonymous-good-samaritan-pays-off-mudslide-victims-mortgage/
Ben is right. Unions reward themselves and the least skilled teachers at the expense of the good ones. I’m guessing that Ben is one of the good ones. His skills earn less than they would otherwise earn, to subsidize the pay of administrators, union folks, and bad teachers.
@tanehisicoates:
It is an expression of anger. Some humans riot because their school lost the big game. Others because the State can’t stop killing them.
The media so concerned about income inequality seem to pay more attention to the wealthy thrill – seekers on Mt. Everest than the much larger numbers of poor crushed by the quake. This is also a story of how capitalism and wealth and capital accumulation saves lives. The poor in Nepal build shoddy buildings typical of poor countries, and die. The wealth of capitalist countries allow for safer buildings, helicopters, cranes, modern medicine, food airlifts, etc. Without capitalism, more of the world would suffer greater damage from natural disasters.
Million Angry Black Mother March
Speaking of natural disasters, I just destroyed the executive bathroom.
>> Rate rise expectations are already priced in IMO.
> [13] WM – So the current inventory is already *discounted* for future rate hikes?
> hahahahahahah
Well I enjoy being outspoken, but is that so farfetched? The S&P 500 had like twelve interest rate tantrums this year, and real estate prices don’t exist in a vacuum. When mortgage rates dropped, there was a noticeable influx of “traditional buyers” that took the opportunity of (low rates / bull market / no buyers) to trade up… I was among them. Plenty deals in NY in 2011, and NJ a little after. How many are left?
The current uptick to me seems more a sign of general economic recovery. Who knows if it has staying power.
Trouble in the straights of Hormuz? History rhymes, we sunk plenty of gunboats there back in early 80s when Reagan was president.
Just like the free market system based on capitalism, where workers subsidize their time and hard work to pay outrageous compensation. Don’t make this a union issue, when it’s a human characteristic issue. Just like the downfall of unions is due to greed at the top, the same thing applies to free market based capitalism. You need to protect everyone from the greed at the top.
Ragnar says:
April 28, 2015 at 11:21 am
Ben is right. Unions reward themselves and the least skilled teachers at the expense of the good ones. I’m guessing that Ben is one of the good ones. His skills earn less than they would otherwise earn, to subsidize the pay of administrators, union folks, and bad teachers.
Amen. Bought in last week of 2011. Anyone that understood the market and were in good financial shape should have bought around then. As the economy improves, the more buyers it brings. That means more competition and an eventual guarantee in the rise in price due to the competition. As soon as people get the feeling that prices are guaranteed to rise, the flood gates will be open for the next rise in the housing cycle being driven by fear of being left behind.
Wily Millenial says:
April 28, 2015 at 11:41 am
>> Rate rise expectations are already priced in IMO.
> [13] WM – So the current inventory is already *discounted* for future rate hikes?
> hahahahahahah
Well I enjoy being outspoken, but is that so farfetched? The S&P 500 had like twelve interest rate tantrums this year, and real estate prices don’t exist in a vacuum. When mortgage rates dropped, there was a noticeable influx of “traditional buyers” that took the opportunity of (low rates / bull market / no buyers) to trade up… I was among them. Plenty deals in NY in 2011, and NJ a little after. How many are left?
The current uptick to me seems more a sign of general economic recovery. Who knows if it has staying power.
From:
Sent: Thursday, April 27, 2006 10:25 AM
To:
Subject: RE:
Silver:
Thanks for the response.
I attended an FPA-NJ conference yesterday, and the lunch speaker was Terri Cullen, who wrote the article that I forwarded to you. Anyway, the buzz at the WSJ is that the RE market is going to be a complete train wreck given sufficient time. I also had a Warren Boroson sighting [Jim Bednar’s mortal enemy.] I am going to write up something over there when the dust settles this morning.
I sort of have my own pseudo-blog, but it is very small and focused. I live in the Tea Building, and we run a website that is the legacy of when a bunch of Tenants organized and took on Toll Brothers – we were crushed.
________________________________________
From: Jersey Shore Bubble [mailto:]
Sent: Tuesday, April 25, 2006 6:46 PM
To:
Subject: Re:
Hi Chicago –
Sorry I didn’t write back sooner. I read your postings on NNJ all the time and it looks like you are on the Kannekt Board. You should start a Hoboken Blog to really get some of those delusional Realtors on Kannekt fired up. I live in Hoboken during the week and have a rental at the Shore on the weekends, where I’m originally from.
Rob Wheeler
Throwback Tuesday!
The End Is Nigh (clot Haute Cuisine Edition):
LOS ANGELES — Bumble Bee Foods and two managers were charged by Los Angeles prosecutors Monday with violating safety regulations in the death of a worker who was cooked in an industrial oven with tons of tuna.
Jose Melena was performing maintenance in a 35-foot-long oven at the company’s Santa Fe Springs plant before dawn Oct. 11, 2012, when a co-worker, who mistakenly believed Melena was in the bathroom, filled the pressure cooker with 12,000 pounds of canned tuna and it was turned on.
When a supervisor noticed Melena, 62, was missing, an announcement was made on the intercom and employees searched for him in the facility and parking lot, according to a report by the California Division of Occupational Safety and Health. His body was found two hours later after the pressure cooker, which reached a temperature of 270 degrees, was turned off and opened.
The company, its plant operations director Angel Rodriguez and former safety manager Saul Florez were each charged with three counts of violating Occupational Safety & Health Administration rules that caused a death.
The charges specify that the company and the two men willfully violated rules that require implementing a safety plan, rules for workers entering confined spaces, and a procedure to keep machinery or equipment turned off if someone’s working on it.
Rodriguez, 63, of Riverside, and Florez, 42, of Whittier, could face up to three years in prison and fines up to $250,000 if convicted of all charges, prosecutors said. Bumble Bee Foods faces a maximum fine of $1.5 million.
What did you buy in 2011? Your rental or your primary residence?
The Great Pumpkin says:
April 28, 2015 at 12:00 pm
Amen. Bought in last week of 2011. Anyone that understood the market and were in good financial shape should have bought around then. As the economy improves, the more buyers it brings. That means more competition and an eventual guarantee in the rise in price due to the competition. As soon as people get the feeling that prices are guaranteed to rise, the flood gates will be open for the next rise in the housing cycle being driven by fear of being left behind.
“Walking Bye says:
April 28, 2015 at 9:40 am
Lack of jobs will lead to this. One needs only to look at the middle east to see what it leads to. Idle hands are the devil’s workshop.”
If I have my way, they’ll be more idle hands in Charm City. I’m going to quietly encourage team parents to lobby competition sponsors to move their events from Baltimore next season. And since my older girl has been on three teams now, I know a lot of parents.
17.
Did not Clinton end Long Term Welfare in 1996? You need to prove your self to receive any Government Assistance today. Every 2 months a recipient needs to check in,prove that they are looking for jobs.
http://www.washingtonpost.com/wp-srv/politics/special/welfare/stories/wf082396.htm
Chi – you should buy one of those new Toll Bros homed going up on the old Bamm Hollow golf course in Lincroft. They broke ground and will be putting them out like hotcackes.
http://www.realtor.com/realestateandhomes-detail/Estates-at-Bamm-Hollow_215-Sunnyside-Road_Lincroft_NJ_07738_Q715118871326
[46] Chi
Hmmm let me get this straight, it’s that easy to charge these guys in the plant but can’t find a way to charge cops? Maybe there is a need to have a “Occupational Safety & Health Administration” type rule for law enforcement.
If you think about it, the Armed Forces are held to a pretty high standard and they are facing off against people who really are trying to kill them. I haven’t heard of any issues with adhering to the Rules of Engagement. And you have officers here killing people because they mouthed off or made them run after them. smh
Christie sending 150 NJSP to Maryland.
Disability is the new Welfare.
http://apps.npr.org/unfit-for-work/
yome says:
April 28, 2015 at 12:17 pm
17.
Did not Clinton end Long Term Welfare in 1996? You need to prove your self to receive any Government Assistance today. Every 2 months a recipient needs to check in,prove that they are looking for jobs.
D-FENS [53];
Disabled in America == not being able to speak English (despite more than ample free educational opportunities). Hundreds in PR collect disability because they only speak Spanish. O_o
“Disability is the new Welfare.”
I can’t even begin to tell you how many gambling junkies I know who are on permanently disability from a state job.
This article has a map. Consider it your own personal no-fly zone.
http://www.newsweek.com/protesters-baltimore-throw-rocks-bottles-police-following-freddie-grays-325771
But knowing Balimer the way I do, I think it best not to get off the interstate. Not if I have my family in the car anyway.
But those are the people against which you’re bidding: self-immolating morons.
“The common muppets can’t think past this week and have no concept other than the monthly payment.”
I am going to binge on The Wire on Netflix this weekend……..
Bought a rental back in 1999. Imo, the only way to go with a first purchase. The 2011 purchase was my first single family purchase. The hot market is what caused me to not purchase more rentals. If I had not realized that 2004-2010 was a very bad time to buy, I might be hating life right now, asking myself why I had to get so greedy and not see the writing on the wall.
D-FENS says:
April 28, 2015 at 12:13 pm
What did you buy in 2011? Your rental or your primary residence?
The Great Pumpkin says:
April 28, 2015 at 12:00 pm
Amen. Bought in last week of 2011. Anyone that understood the market and were in good financial shape should have bought around then. As the economy improves, the more buyers it brings. That means more competition and an eventual guarantee in the rise in price due to the competition. As soon as people get the feeling that prices are guaranteed to rise, the flood gates will be open for the next rise in the housing cycle being driven by fear of being left behind.
NFL to give up its status as a not for profit
http://money.cnn.com/2015/04/28/news/companies/nfl-tax-exempt-status/index.html
FWIW, the new settlement may effectively wipe out any taxes the NFL would pay for years to come. Or not. And this only applies to the League office, not to the teams, so for once, CTJ might have been right.
But those are the people against which you’re bidding: self-immolating morons.
Why do you think I’m out? I came to my senses and realized I was getting sucked into a game. And there are those who insist that this is the definition of a normal market.
Love that series. One of the best.
chicagofinance says:
April 28, 2015 at 1:31 pm
I am going to binge on The Wire on Netflix this weekend……..
I was joking…..I was just going to flick on national news….or in your case, you can flick on the local news…..
The Great Pumpkin says:
April 28, 2015 at 2:08 pm
Love that series. One of the best.
chicagofinance says:
April 28, 2015 at 1:31 pm
I am going to binge on The Wire on Netflix this weekend……..
Savages
Bourbon Thieves Indicted in Kentucky Today
Nine people were indicted in Franklin County today for stealing more than $100,000 worth of bourbon from the Buffalo Trace and Wild Turkey distilleries. The press conference announcing the indictment felt like a scene straight out of “Justified.” Bottles of Pappy Van Winkle, jugs of bourbon, and several containers, including a stainless steel barrel, surrounded the Franklin County Sheriff’s podium. All that was missing was a few rifles and a couple silencers. But as you will read, there were guns and silencers. They just didn’t bring them out for the press.
http://whiskyadvocate.com/2015/04/21/bourbon-thieves-indicted-in-kentucky-today/
What is your definition of a normal market?
Fast Eddie says:
April 28, 2015 at 1:52 pm
But those are the people against which you’re bidding: self-immolating morons.
Why do you think I’m out? I came to my senses and realized I was getting sucked into a game. And there are those who insist that this is the definition of a normal market.
Wow, it would svck to be the kid whose mom beat him up. That story has gone viral. Good luck with your street cred after that.
Now I understand why Fabian likes that network so much. . .
http://www.politico.com/blogs/media/2015/04/four-msnbc-hosts-plagued-by-tax-debt-205942.html
@Bipartisanism: What the media isn’t showing: Black men cleaning up the streets of #Baltimore. #BaltimoreRiots #BaltimoreUprising http://t.co/ZWO7mqLZH1
“buzz at the WSJ is that the RE market is going to be a complete train wreck given sufficient time. ”
you will be dead, given sufficient time
What is your definition of a normal market?
Double the current inventory
Lending rates at approximately 7.5%
Asking prices reduced 15% across the board
What the f.uck does street cred mean? Kudos to that mother for doing what the absent father should have been doing and what every parent should be doing. What a riduculous statement.
Speaking of disability and welfare, here’s a big written piece from NPR
http://apps.npr.org/unfit-for-work/
It seems that disability is the loophole/backdoor to get out of the Clinton/Republican welfare reforms of the late 90s. Why be poor and stupid when you can be mentally disabled and on disability? The chart on the rising popularity of back problems is certainly interesting. Suggests that the days of physically “backbreaking labor” was better for back health than watching daytime TV and ads from disability lawyers.
“But knowing Balimer the way I do, I think it best not to get off the interstate. Not if I have my family in the car anyway.”
Not if you’re in the Family Truckster!
Fast Eddie, you forgot to mention, for those that aren’t familiar with the term, that “father” is a synonym for “baby daddy”. And for Pumpkin, “synonym” means “another word for the same thing”.
“buzz at the WSJ is that the RE market is going to be a complete train wreck given sufficient time. ”
“you will be dead, given sufficient time”
And my fave, the market can stay irrational longer than you can stay solvent.
“Wow, it would svck to be the kid whose mom beat him up. That story has gone viral. Good luck with your street cred after that.”
Being ostracized from that group may keep him alive and provide some opportunity outside of a cycle of poverty and crime
Ragnar,
The solution to 99% of the world’s problems is in that 10 second video of that woman smacking the living sh1t of her kid.
is this really true?
@deray:
Police in Baltimore killed more unarmed people in 2014 than 93 of the 100 largest U.S. cities. None were white.
From the lead article:
“If a complete recovery means new highs all around, we’re not there yet,” he said.
It’s pretty clear that his definition of “recovery” is shared by many – particularly everyone who purchased during the bubble – which creates an affordability issue for first time home buyers. So it will be interesting to see how the candidates pitch this to millennials during the next election. My guess is that they all propose some form of expanded first time home buyer tax credit.
But why start there? We’ve mandated that millennials must participate in social security and purchase health insurance, why not mandate them to purchase a home? After all, we need to protect (the home values of) our eldest, most vulnerable citizens.
The ponzification of America.
JJ edition
http://pix11.com/2015/04/15/georgia-mom-threw-naked-twister-party-for-underage-teens-slept-with-minor-police/
“Police in Baltimore killed more unarmed people in 2014 than 93 of the 100 largest U.S. cities. None were white.”
It’s a shame they weren’t armed.
anon,
Are you telling me that Baltimore cops don’t even know how to plant guns on people they shoot?
https://www.youtube.com/watch?v=icRhJ7_QGS4
Freedom aint free.
80. priceless.
little bit of everything. AA. pregnant at 19. mormon church sex addiction group.
cannot make this up. article of the day.
I think teachers should actually get paid more for what they do. What I meant is that govt employees were getting raises in the past 20 years that have kept up with inflation. The private sector has been getting attacked and had to watch their jobs being shipped in favor of overseas slave labor. In the past 7 years, the elite have shifted their attack to govt employees, specifically their unions. Take out the public sector unions and the elite will have won this fight. There will be nothing to stop them from lowering wages across the board. I guess since they already have their’s, they see nothing wrong with this since these labor conditions provide security to people that are already at the top. Lower wages make it that much harder to compete with the top, and at the same time, to develop capital from the savings in left over earnings to start a business of your own. Depress wages enough and how will someone have the ability to save enough capital to create a business or purchase a home? They won’t.
Ben says:
April 28, 2015 at 10:49 am
Great analysis and I can’t say that I don’t totally agree. Only thing I disagree with is the govt jobs. The govt jobs are only starting to look good as a result of the pathetic job prospects in the private industry. The private industry has been in an all out attack on their workers. Sucking them dry. As a result of years of taking it in the a$$ in the wage department, govt jobs are starting to look good because their jobs have been protected by strong unions. So they have been getting raises to keep up with inflation. Private sector has gotten the crap kicked out of it. So all of a sudden govt jobs look “desirable”. If that doesn’t tell you something is wrong (that the govt jobs are beating private sector jobs) than I don’t know what will.
You don’t know what you are talking about. You are looking at a base salary number from a database and assuming a raise was given. I’ve gotten 4 advancements on the salary guide in six years. Meanwhile, my pension contribution was increased by law. My health care contribution was increased twice.
Overall, $4k is raises offset by $6k in contributions. Over the course of six years, as a teacher, I’ve taken a $2k hit. That hasn’t happened in the private sector for employees that have kept their job. The public unions don’t negotiate high salaries. They keep their members at meager raises at best while the union leaders negotiate promotions for themselves. It’s an age old game that’s been played for a century.
@canilor:
Sen. Bernie Sanders: ‘When People Tell You Social Security Is Going Broke,’ Tell Them They’re Lying
clotluva says:
April 28, 2015 at 3:35 pm
We’ve mandated that millennials must participate in social security
Freedom aint free.
If it was, the Democrats would be promising that instead of cell phones and food stamps (Bread and Circuses!).
Forgot to add being raped by her daughter’s bf. Definition of white trash. You people sure you want to move to Georgia? Lol
leftwing says:
April 28, 2015 at 3:47 pm
80. priceless.
little bit of everything. AA. pregnant at 19. mormon church sex addiction group.
cannot make this up. article of the day.
86
Anon,
I didn’t say it was going broke – although plenty of other people have made that case.
I said millenials were forced to contribute to it, and indirectly, referred to it as a Ponzi scheme. Do you disagree that SS requires new money to pay for old money?
In case it was unclear, there is, and will never be, a shortage of self-immolating morons. Therefore, this market is “normal.”
————–
But those are the people against which you’re bidding: self-immolating morons.
Why do you think I’m out? I came to my senses and realized I was getting sucked into a game. And there are those who insist that this is the definition of a normal market.
88, Hard to make a rape case hold up if the woman plays naked twister with someone, then puts on a public show with v1brat0rs.
I think the key take away is that certain guys could do worse than get involved in their local Mormon church sex addiction group, if they like shooting fish in barrels.
89 con’t
I can imagine Anon is now frantically scouring the Twittersphere looking for another 40 character block of specious rhetoric to post as a proxy for original thought…
Exactly. A true Ponzi scheme comes to an end when everyone figures out the scheme. In a state of panic, everyone rushes to get their money at once. SS is a Ponzi scheme which is protected by law. No one can rush to get their money all at once and people must continue to contribute to it. Technically speaking, for this to go broke, everyone must stop working.
clotluva says:
April 28, 2015 at 4:04 pm
86
Anon,
I didn’t say it was going broke – although plenty of other people have made that case.
I said millenials were forced to contribute to it, and indirectly, referred to it as a Ponzi scheme. Do you disagree that SS requires new money to pay for old money?
91. AA is a major hookup place. The “13th” step is well known among members (no pun intended).
Some spouse should bring a class action suit. AA national formally ‘discourages’ different gender sponsors noting the potential pitfalls but nonetheless allows people with no screening whatsoever in positions of care over newly recovering alcoholics at their most vulnerable time. I know of someone who married three times from AA while continuing to ‘sponsor’ and 13 step newbies. Decrepit human.
In any other setting these actions would be deemed predatory. The national organization’s total lack of oversight while noting the problem and validating the local group’s non-compliance with its imprimatur approaches gross negligence.
All some creative lawyer needs to do is quantify damages, cha-ching.
Meanwhile, if you have some time on your hands and feel like a (sober) hookup google your local AA chapter.
I am a little confused…..we have a Ponzi scheme involving naked Twister at a Mormon sex addict retreat in a burned out CVS in Baltimore?
“we have a Ponzi scheme involving naked Twister at a Mormon sex addict retreat in a burned out CVS in Baltimore” with drinks….
What’s on Patch in Madison NJ tonight lol?
@chrislhayes: Calling out absent fathers – while flying around the country running for President – days after your son was arrested, is some chutzpah.
‘Disability is the new welfare”- It is based on -SSA considers an individual totally disabled only if he or she is unable to earn more than the substantial gainful activity (SGA) amount for a given year. The monthly SGA amount is $1070.00 for non-blind individuals-you do have to be totally disabled, as defined by the social security administration (SSA).
You do not have to be permanently disabled to collect social security disability (SSD) or SSI income. In fact, the social security administration anticipates that at any given point a claimant’s condition may substantially improve, and thus requires those awarded disability benefits to participate in the process of continuing disability review, or CDR. The sole purpose of the CDR process is to determine if there has been any improvement in the claimant’s medical or financial circumstances.
Approved claims are subject to “diary review dates” after one, three, and seven years, depending on the condition for which disability was awarded and the probability for improvement. Normally all that is needed to avoid interruption of disability benefits is medical documentation that the claimant still suffers from the impairment for which disability was originally awarded, and that there has been no improvement.
However, although you do not have to be permanently disabled to qualify for SSD or SSI benefits, you do have to be totally disabled, as defined by the social security administration (SSA).
SSA considers an individual totally disabled only if he or she is unable to earn more than the substantial gainful activity (SGA) amount for a given year. The monthly SGA amount is $1070.00 for non-blind individuals.
Disability claimants must be able to document, through their medical records, that their condition is severe enough to prevent them from returning to their job, or from performing any other job for which they may be suited, for at least one year.
Social security does not define totally disabled as unable to perform any work. You can work when you apply for disability and you can work after you are awarded disability—you just can’t make more than the SGA amount (this amount is updated annually to reflect inflation and cost of living increases).
Just keep in mind that, unlike workers’ compensation, which is governed by state laws and may award benefits for partial or temporary disability depending upon the state, social security disability programs are run by the federal government—no matter where you file in the United States, you will be awarded SSD or SSI benefits only if you can demonstrate a severe, ongoing physical or mental impairment, that is not likely to improve, under any circumstances, within the next year.
re # 97 – 22 year old is an adult and he wasn’t arrested twitter troll.
Social security does not define totally disabled as unable to perform any work. You can work when you apply for disability and you can work after you are awarded disability—you just can’t make more than the SGA amount (this amount is updated annually to reflect inflation and cost of living increases). Monthly income of $1070.00
He seems like a troubled kid but he did the right thing in refusing to take a breathalyzer and blood test.
—————-
According to a citation, police say that William Hilton Paul was observed sitting in the driver’s seat of a vehicle that had collided with a parked car.
Police say that Paul smelled of alcohol and had “bloodshot, watery eyes.” The citation also said that William Paul was behaving in a “belligerent” manner and had slurred speech.
A witness told police that she had spotted William Paul sitting at the intersection of Woodland Ave and Old Vine revving the engine of his car. A few minutes later that same witness heard a loud crash.
The vehicle Paul was in was not his and there was no insurance on the vehicle. William was by himself in the car, and no one was in the parked car that he allegedly struck.
Paul was taken to the hospital with lacerations to his face. He refused a breathalyzer and blood test. At the hospital, Paul was cited for operating a motor vehicle under the influence and failure to maintain insurance. According to court documents, Paul failed his field sobriety test.
Paul has had previous run-ins with the law. The eldest son of presidential candidate Rand Paul had been cited for possession of alcohol as a minor at a race at Keeneland in 2013. In January of the same year, Paul was charged with simple assault of a flight attendant at Charlotte Douglas International Airport. He was also charged with being intoxicated and disruptive conduct after his flight landed.
Those charges were dropped after a diversion program was completed.
[94] leftwing
I’m going to go out on a limb and say I doubt there are any lookers in AA. Could be wrong.
[90] Statler
When I look at the Apple Watch and see how much press it’s getting and the anticipated pants up demand…..I’m not sure what is normal anymore.
@business:
Analyst says Apple will go to $195 and that the Watch will be its best-selling new product ever
FKA 2010 Buyer says:
April 28, 2015 at 5:15 pm
[90] Statler
When I look at the Apple Watch and see how much press it’s getting and the anticipated pants up demand…..I’m not sure what is normal anymore.
102. http://www.imdb.com/name/nm0000504/
SX, yeah, a lot more miles on that model in the mug shot. Driven hard.
Although the facebook photo of our georgia peach looks even better.
Natural blondes are all certifiably crazy. Has to be genetic.
Something about that GA mom story doesn’t make sense. The kids were pulled from her house by DYFS/CPS (or whatever they call it in GA) on an emergency basis because of “an incident;” the mom relays this to her sponsor, including lurid details; sponsor brings it to the cops. If DYFS/CPS already pulled the kids, didn’t they know something was up before the sponsor dropped dime? Would CYFS/CPS not tell the cops?
106. You gotta watch how you through that term blonde around. Not sure the carpet matches the drapes…..
lol.
Need Stanley Steemer in before I roll around on that carpet anyway.
Chi (46)-
My only question is whether they went ahead and packaged the tuna that they cooked with the guy in it.
12,000 pounds of tuna is a lot to throw away.
Just saying…
#17 Rags
The usual Randian response, a one dimensional answer to a multi dimensional question.
Your time reading Rand would have been better spent reading Steinbeck and Gibson.
“Men who have created new fruits in the world cannot create a system whereby their fruits may be eaten. And the failure hangs over the State like a great sorrow. …and in the eyes of the people there is the failure; and in the eyes of the hungry there is a growing wrath. In the souls of the people the grapes of wrath are filling and growing heavy, growing heavy for the vintage.”
#67 Eddie Ray
As discussed in here by other many times, the only person here who admits to watching MSNBC is yourself. Is it only for the adverts?
I don’t watch a lot of TV and political TV only around the November elections. My TV is tuned most of the time to the Science Channel for “How its Made!”
But keep pumping that Associative Fallacy, its seem to be the flavor in here today.
Blumpkin,
Funny, I paid only 20k more than those brilliant previous 2011 buyers. Of course, they also put 40k into it so who lost on that transaction? Enjoying my new wood floors, all new appliances, new brick patio, newly lined pool (soon) etc..but keep telling me about missed value and price appreciation, moron. They had to come down 160k from olp to sell this one. Fast Eddie and I are simply explaining the piles of $hit you must sift through to find something worthy. I expect little to no gain on this over next 15 yrs. Your pea brain can’t grasp that the housing market is f-ed for a long time. Massive govt. intervention and artificial low rates are not normal conditions. It has caused more distortion. Normal is over – done, finished…with exception of Newark, I think you should go all in, Mr. Savvy. Just watch those riots.
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