From HousingWire:
FHFA: Home prices increase again, rise 1.3
While home prices only increased a meager 1.3% in the first quarter of 2016, it’s added onto a long string of increases; 19 consecutive quarterly price increases to be exact.
According to the Federal Housing Finance Agency House Price Index, this chart shows the seasonally adjusted and unadjusted monthly appreciation rates.
From first quarter 2015 to first quarter 2016, house prices rose 5.7%, marking the fourth consecutive year in which prices grew more than 5%.
The FHFA added that its seasonally adjusted monthly index for March was up 0.7% from February.
“While the overall appreciation rate was robust in the first quarter, home price appreciation was somewhat less widespread than in recent quarters,” said FHFA Supervisory Economist Andrew Leventis.
Internet Forum Rule #1 – Never get defensive, you’ll be torn to shreds. It’s like blood in the water to sharks.
Obama’s new digs, very very nice:
http://www.marketwatch.com/story/heres-the-house-obama-will-live-in-after-he-moves-out-of-the-white-house-2016-05-25
Bojangles gonna git busy stacking that cheddar.
Does Bomma smoke Kools or Newports?
Houses on my block are now priced $100k higher than 3 years prior, but much less foot traffic on open house days.
at least a couple of incidents with chifi going after new posters.
women reacting apologetically and chifi doubling down to run them off.
anger issues with women
grim says:
May 26, 2016 at 5:51 am
Internet Forum Rule #1 – Never get defensive, you’ll be torn to shreds. It’s like blood in the water to sharks.
Saks leaving Short Hills Mall for “American Dream”.
@conradhackett
Children living in poverty
Israel 29%
Turkey 28%
Mexico 26%
US 21%
Denmark 4%
grim says:
May 25, 2016 at 11:28 am
34 – if shit hits the fan, and he loses everything, the kids go to school for free – Bernie said so.
I don’t know what your definition of busy is, but my road is not busy. I don’t have to wait for cars to get out of my driveway, no matter what time of day it is. You are an idiot for assuming. There are streets with no yellow lines that get more cars than my road. Entire pines lake road is double yellow, guess you should go tell those people that they got shafted for buying on a double yellow.
Alps road, Berdan, Ratzer, and valley road in wayne are what I consider “busy”. Hamburg turnpike too. My road is not “busy”, meaning lots of car traffic and noise. Do you know how many deer and turkey come out of the woods behind my house and cross the street to the other set of woods? Morning and night, almost every day. How come they never get hit? Explain that Sherlock. If it’s a busy road, there should be dead carcasses on a weekly basis. I wonder how they cross such a busy road without getting hit, must be magic.
Yes, it’s on a double lined road, but I’ll take that 10-20% discount if it means I’m getting more house for my money. Esp, when it’s not really a high traveled road. I didn’t get shafted in the price because the discount for the double yellow line road was included in the price. So when I go to sell, I don’t lose anything I didn’t pay for.
Everyone obsesses and pays a premium for the end of a cul-de-sac home, why, I don’t know. I have an extremely nice lawn, why not let people see it. Have a nice home too, why not let people enjoy the sight of nicely landscaped home. No one ever sees the hard work you put into your house at the end of a cul-de-sac. Only your two or three neighbors. It’s nice to hear neighbors walking their dog pass your house and complimenting you that this is the nicest lawn they have seen. To sum it up, my house has major curb appeal. It won’t have trouble selling at all. It has a large front lawn, driveway can fit 12 cars easily. Nice weeping willow in front of my house. The sidewalk has tree lined trees maintained by the town. Neighbors tree fell in a storm and the town immediately planted a new one.
I don’t know why I am even defending my purchase, but it’s a real estate blog, so why not.
Bystander says:
May 25, 2016 at 10:04 pm
“Might live on a double yellow county road, but it’s not busy”
Yes, I hear they are for decoration mostly. Please, I lived on North Ave in Westfield so I know busy. I would never buy on double yellow again. In fact, I dropped two realtors who showed me homes on double yellow after I said not to.
“What’s your definition of busy street?”
Hmmm..mine is a double yellow lined road. Actually the state helped me with that one because they even marked it so you can see. Question, does DPW stop by every so often to repaint those lines? Busy road..
Btw, saying that I got shafted on the price coming from a few of you means nothing. YOU THINK ALL REAL ESTATE IS OVERPRICED. FACT!
gary (4)-
Philly Blunts.
Punky is so cute when he’s mad.
[9] Read [1]
I live on a double yellow line road. It is less busy than many in my area, but it’s still got two yellow lines. It’s in a historic village district and has a 25 mph speed limit…that everyone ignores.
There is no way to positively spin a negative. In my case, nobody in my family is bothered much by traffic noise, and we have sidewalks all over town, which makes things a lot safer. We just happened to like this house the best when we were looking to buy.
@conradhackett
Children living in poverty
Israel 29%
Turkey 28%
Mexico 26%
US 21%
Denmark 4%
Obviously, the key to reducing childhood poverty is to reduce the number of non-whites you allow in. So what are you advocating Anon? A quota on the number of children that non-whites may have, or are you calling for a straight up ban of these people?
yet another moderation
“But it’s made of quality materials.”
Every time I hear something like this, or the even more popular, “It’s got good bones.” I just want to hurl. All homes are built of the same 2 x 4’s spaced 12″ apart. The truth is, some older homes (like my multi) are spaced 16″ apart in places, which is why my my mainfloor bathroom started to sag until we reinforced the framing below it. You want good bones? Go to a Pet Store.
Well, we know Plumpty lives on a double yellow line road, but rest assured they don’t let in any of those ethnic types.
[2] Nine bedrooms, 8.5 baths? That sounds like the spec for a high traffic brothel they might build on Blumpkin’s street. I wonder if it has a shed with hardy[sic] siding or some woods on the other side of the racetrack out front?
Anon has met the enemy, and it is he.
Bonneville Salt Flats?
There are streets with no yellow lines that get more cars than my road.
18. I disagree,
Sure the “materials” are similar, but not the construction.
Things like the 11 course basement, etc.
Good bones means all of the basics are there for a quality renovation without needing any structural changes to make a house up to today’s standards.
My position agrees with this article. All those reasons brought up in that article are due to one reason, the concentration of wealth in a few hands, giving them immense power to rig the game for everyone else. You just buy anyone in your way. No idea why you don’t realize this.
Anon E. Moose says:
May 25, 2016 at 8:42 pm
RR [30];
Capitalism encourages this type of behavior.
Capitalism encourages prosperity of the masses. After seeing this graph, I don’t want to hear another god damned word from the Pumpkin Troll (or anyone else for that matter) about income inequality.
The defining inequality worldwide is the unequal distribution of economic freedom.
Over/under on number of McDonald’s bags that Blump cleans off his lawn on weekly basis?
See post #1, Donald J.
50mph is nearly 75 feet per second. I doubt your goal of being appreciated by strangers (hint, hint) is being completely fulfilled at that speed. Maybe you should consider a trade-up home at an intersection with a traffic light?
Everyone obsesses and pays a premium for the end of a cul-de-sac home, why, I don’t know. I have an extremely nice lawn, why not let people see it. Have a nice home too, why not let people enjoy the sight of nicely landscaped home.
Hey, someone has to live on a double lined road. If it’s not a lot of traffic, and it works for you, why not take the discount? I mean what are some advocating for here, that we shouldn’t build houses on double lined roads? That’s the impression some are sending, that you should never buy on a double lined road. I disagree. I also disagree with the notion that all double lined streets are of the same definition. Most bedroom communities in nj have double yellow lined roads, they are not all equal.
Amerigeddon says:
May 26, 2016 at 9:03 am
I live on a double yellow line road. It is less busy than many in my area, but it’s still got two yellow lines. It’s in a historic village district and has a 25 mph speed limit…that everyone ignores.
There is no way to positively spin a negative. In my case, nobody in my family is bothered much by traffic noise, and we have sidewalks all over town, which makes things a lot safer. We just happened to like this house the best when we were looking to buy.
They’re moving next door to Pumpkin?
Saks leaving Short Hills Mall for “American Dream”.
You see, this comment says it all. You have no idea what kind of street I live on. I have never had to clean garbage off my lawn.
Bystander says:
May 26, 2016 at 9:24 am
Over/under on number of McDonald’s bags that Blump cleans off his lawn on weekly basis?
See post #1, Donald J.
What do you call a high speed road with no stops that connects one of these “busy” roads with a highway?
Alps road, Berdan, Ratzer, and valley road in wayne are what I consider “busy”. Hamburg turnpike too.
Expat knows how to do math. Nice job.
People walk past my house on a regular basis. Lots of cyclists also drive down my road. Someone should tell them to watch out for the speeding cars with people throwing garbage out the windows.
The Original NJ ExPat says:
May 26, 2016 at 9:24 am
50mph is nearly 75 feet per second. I doubt your goal of being appreciated by strangers (hint, hint) is being completely fulfilled at that speed. Maybe you should consider a trade-up home at an intersection with a traffic light?
The high speed traffic sucks it all into the woods;-)
You see, this comment says it all. You have no idea what kind of street I live on. I have never had to clean garbage off my lawn.
Plumpty, when is your town installing rumble strips in front of your house?
Pumpkin playing the RE market:
https://www.youtube.com/watch?v=d7JNUH7P2Aw
Oil over 50. The rigged game plays on.
Troll [23]
You quoted me but you obviously didn’t read (or understand) what I wrote. I’ll type is again slowly, so you can understand:
“I don’t want to hear another god damned word from the Pumpkin Troll (or anyone else for that matter) about income inequality.”
The graph I linked to shows that 200 years ago, 90% of the world’s population lived in abject poverty; 10% above. Today that ratio is nearly reversed. The difference is capitalism — by definition the unequal distribution of wealth. You don’t even know how stereotypical you are acting. The Iron Lady had your type nailed before you were even born, Michael.
https://youtu.be/pdR7WW3XR9c
“What the Honourable Member is saying, is that he would rather the poor were poorer, provided the rich were less rich.”
Pumpkin logic:
1. I’m buying a new Volvo, that proves my wife and I never argue about money.
2. There are no dead deer in front of my house, that proves I don’t live on a busy road.
Town said prob next week.
Amerigeddon says:
May 26, 2016 at 9:38 am
Plumpty, when is your town installing rumble strips in front of your house?
200 years ago? What economic system are you comparing to capitalism? Feudalism?
“The graph I linked to shows that 200 years ago, 90% of the world’s population lived in abject poverty; 10% above. Today that ratio is nearly reversed. The difference is capitalism — by definition the unequal distribution of wealth. You don’t even know how stereotypical you are acting. The Iron Lady had your type nailed before you were even born, Michael.”
re: “Saks leaving Short Hills Mall for “American Dream”
Something stinks over in East Rutherford.
The greatest financiers in the world Goldman Sachs cannot convince anyone to buy the 1 Billion in bonds to finish building that place. Triple five had already secured 1.4 billion in loans from Credit Suisse Group AG that also included Wells Fargo & Co. and Citibank.
http://www.nj.com/bergen/index.ssf/2016/05/town_asks_sports_authority_to_issue_american_dream.html
Uh-oh. The net worth of Wayne just dropped dramatically:
http://patch.com/new-jersey/wayne/wayne-men-charged-helping-run-international-gambling-ring-prosecutor-0
Shows the level of intelligence. Can’t understand the logic.
If I was worrying about money, barely getting by, why would I be buying a new volvo xc 90 after purchasing my house 5 years ago? It was meant to show that I’m not worrying about money. If I was worrying about money, I would have bought a used honda like you.
If the deer and turkey are not found on the road dead, and they cross the street every day, what does that tell you? I would expect that if it’s a heavily traveled road, there will be casualties.
The Original NJ ExPat says:
May 26, 2016 at 9:50 am
Pumpkin logic:
1. I’m buying a new Volvo, that proves my wife and I never argue about money.
2. There are no dead deer in front of my house, that proves I don’t live on a busy road.
[39] They need a marketing genius to get that mall opened. Someone who can come up with a great tag line like, “It’s just like Amazon, except you can drive there.”
[41] I’m sure both arguments will completely win over both your couples therapist and your realtor.
ExPat: 25…funniest thing I read here in a while.
“People walk past my house on a regular basis.”
Flimsiest defense I’ve ever heard for not living on a busy road.
Why didn’t anyone read rule #1?
In Punkin’s defense, there are many examples of towns where homes on “main” double yellow roads command the highest prices in those towns.
In Wayne, Webster is a good example of this.
But also…
Mountain Lakes, Glen Ridge, etc etc.
[35] Moose – that’s the best thing I’ve seen in a long time. I am so bored with this “wealth inequality” non-debate. A $15 minimum wage will solve as many social ills as changing the name of the Washington Redskins to the Washington Equals. It also amazes me that all US talk about wealth inequality ends at our porous borders. The Dems accurate chant should be “Fcuk the World poor, just give us more.”
“If the deer and turkey are not found on the road dead, and they cross the street every day, what does that tell you?”
At those high rates of speed, they are obliterated into dust upon impact.
For the same reason that Pumpkin didn’t read [13], where I urged him to read [1]. He’s Pumpkin. That’s what he does. All day, every day, while his wife is at work. He lives in a posting palace, after all.
Why didn’t anyone read rule #1?
Traffic noise, uppity volvo drivers, real doll manufacturing in someone’s basement, some polish guy hawking bathtub hooch. No way I would ever live in Wayne too damm freaky.
Hooch factory is in Clifton – it’s looking pretty cool if anyone wants to stop by.
When Bill Gross starts shorting credit, it’s probably worth taking note:
http://www.zerohedge.com/news/2016-05-26/system-itself-risk-bill-gross-warns-shorts-credit-day-reckoning-coming
expat (40)-
There are probably more than 25 guys in NJ named ‘Dante Monaco’. Hope they caught the right one…
Andre the Giant lives?
Grim…stop raining on our parade.
Speaking of parades, I bet plumpy’s house in on the route.
Last night, when I was explaining to Gator Jr., who Moose is, since he did a really nice thing for the “D”. I showed him this blog. He had two questions for me. First, he asks why is there someone named the Great Pumpkin. I explained how Plumpy has been predicting wage inflation much like Linus waits for the Great Pumpkin every year. Second, he asks what the Canklephate is. Keep in mind, my mother is home too. So, I explain what cankles are and then what the Caliphate is. My mom chimes in says, I never heard of cankles before. To which I responded, you don’t look in the mirror much do you? Gator Jr. and I were in hysterics. BTW, I did tell him that it’s not a nice word and that he shouldn’t use it unless talking about Hillary.
Yeah, but Pumpkin’s street isn’t a prominent main road, it is a 45mph high speed “short cut” between main roads. The double yellow, by itself, isn’t a distinction. It’s just a narrow busy road. I would imagine there isn’t an honest realtor who wouldn’t characterize a 45mph straight road with no parking on either side as a busy road. Webster has a double yellow, but it is a dead end (25 mph?) with houses and parking on both sides, right? As a driver you wouldn’t be surprised to see a 10 year old ride down their driveway and into the street on Webster, but you might be inclined to contact the proper state agency if you saw the same on Pumpkin Highway.
In Punkin’s defense, there are many examples of towns where homes on “main” double yellow roads command the highest prices in those towns.
In Wayne, Webster is a good example of this.
Wow…Brick and mortar really IS in trouble.
http://blog.boxed.com/2016/05/25/boxed-pays-weddings/
Grim…when I get a moment, I definitely want to check it out. Hope it is disgustingly successful.
Holy lord, you can park in front of my house. Wtf are you talking about?
The Original NJ ExPat says:
May 26, 2016 at 10:49 am
Yeah, but Pumpkin’s street isn’t a prominent main road, it is a 45mph high speed “short cut” between main roads. The double yellow, by itself, isn’t a distinction. It’s just a narrow busy road. I would imagine there isn’t an honest realtor who wouldn’t characterize a 45mph straight road with no parking on either side as a busy road. Webster has a double yellow, but it is a dead end (25 mph?) with houses and parking on both sides, right? As a driver you wouldn’t be surprised to see a 10 year old ride down their driveway and into the street on Webster, but you might be inclined to contact the proper state agency if you saw the same on Pumpkin Highway.
In Punkin’s defense, there are many examples of towns where homes on “main” double yellow roads command the highest prices in those towns.
In Wayne, Webster is a good example of this.
Grim, thank you for not hopping on the pumpkin bashing parade. Might be the first time someone brought a little light to my side in a debate on this blog. I think I can take the position that the American flag has stars on it, and some will still try to get under my skin.
BTW, I grew up on a street like Webster with mid 60’s ranches and colonials on 1/4 acre lots on each side, also 25mph speed limit, except it went over the top of a significant hill (where we lived) and was sometimes used way to get from point A to point B. Nonetheless, we played baseball in the street, rode bicycles in circles in the street, etc. I could imagine all of that on Webster(if the internet went down), but certainly not on Pumpkin Expressway. As a kid I was amazed at the balls my Dad had when it came to enforcing the speed limit. If he was mowing the lawn down near the street and he saw a car doing 35mph he would walk out into the middle of the street holding his palm up high like a traffic cop and literally stop the car and then walk to the driver’s window and remind them it was a 25mph speed limit, kids, blah, blah, blah, please slow down.
Either side? (I’ll take it you agree with the rest)
Holy lord, you can park in front of my house. Wtf are you talking about?
The Original NJ ExPat says:
May 26, 2016 at 10:49 am
Yeah, but Pumpkin’s street isn’t a prominent main road, it is a 45mph high speed “short cut” between main roads. The double yellow, by itself, isn’t a distinction. It’s just a narrow busy road. I would imagine there isn’t an honest realtor who wouldn’t characterize a 45mph straight road with no parking on either side as a busy road. Webster has a double yellow, but it is a dead end (25 mph?) with houses and parking on both sides, right? As a driver you wouldn’t be surprised to see a 10 year old ride down their driveway and into the street on Webster, but you might be inclined to contact the proper state agency if you saw the same on Pumpkin Highway.
In Punkin’s defense, there are many examples of towns where homes on “main” double yellow roads command the highest prices in those towns.
In Wayne, Webster is a good example of this.
http://tinyurl.com/Webster-road
I think I could restyle Jeff Foxworthy’s “You might be redneck”…
If your street has lined shoulders, you might live on a busy street.
If the turkeys look both way before they cross, you might live on a busy street.
If you only back out of your driveway on a dare, you might live on a busy street.
If your mother-in-law is the only person you ask to park on the street, you might live on a busy street.
Add, if your road is named after a civil rights leader.
[66] Pumpkin X Boulevard?
Mutual of Omaha’s Wild Kingdom (jj Edition):
BANGKOK — A Thai man is recovering from a bloody encounter with a 10-foot python that slithered through the plumbing of his home and latched its jaws onto his pen!s as he was using a squat toilet.
Attap0rn Boonmakchuay was smiling as Thai television stations interviewed him in his hospital bed about the intimate intrusion, and doctors said he would recover. But photos of his blood-splattered bathroom in Chachoengsao province, east of Bangkok, were testimony to his ordeal.
The 38-year-old told Thai TV Channel 7 that he struggled to remove the snake for 30 minutes Wednesday before he managed to free himself with help from his wife and a neighbor. After his wife tied a rope around the snake, Attap0rn pried open its jaws before passing out.
Emergency workers dismantled the Asian-style squat toilet, with the python still twined through it. The snake was taken away to be released back into the wild, according to an emergency responder cited by the newspaper Thai Rath.
Doctors said Attap0rn, bloodied but unbowed, will recover.
“He has a really good attitude … even though his own wife and children were in shock. He’s been smiling and giving interviews all day from his bed,” hospital director Dr. Chutima Pincharoen said.
Here we go……it begins……TICK…TICK…TICK….TICK….
https://www.wellsfargo.com/mortgage/loan-programs/your-first-mortgage/
Now when it comes to desirable double yellow roads, Asharoken (Long Island North Shore) is right up there. Almost every single house is waterfront, either on the bay or on LI sound. The completely unlit main drag of Asharoken has a 30mph speed limit, waterfront mansions on both sides you can’t even see from the road. At the end of the road is the upper middle class community of Eaton’s Neck, practically an island, with 514 households held practically hostage by Asharoken police. The only way to get back and forth from Eaton’s Neck by land is through Asharoken. 31mph almost absolutely guarantees you a speeding ticket. I used to live very close by in Centerport. It was excruciating (especially pre-cruise control) to travel at 29mph on flat, open Asharoken Avenue. It’s about two miles and 4 minutes of pitch black agony for Eaton’s Neck commuters arriving home in the Winter. Do you know how many households there are in Asharoken? 254. Do you know how many speeding tickets they hand out? Oh, about 1000 per year. Do you know how big the police force is for 254 households? TEN! When I lived in Long Island it was 4.
“The Village of Asharoken maintains its own private police force, paid for predominantly by property taxes on village residents. Over the years Asharoken has earned a reputation for being tough on speeders. In 2003 the four-man Asharoken Police Department issued 1,000 tickets for speeding violations, a rate over 40 times greater than neighboring towns with significantly greater populations. Though the population of Asharoken has changed little in recent years, as of 2009 the police force has ballooned to 11 officers, a supervising officer-in-charge, five cars and a boat patrolling land and water. The police department took possession of a new marine vessel in December 2010.”
https://en.wikipedia.org/wiki/Asharoken,_New_York
[69] chifi- LOL
“Homebuyer education may qualify you for an interest rate reduction if your down payment is less than 10%.”
Obama: World leaders ‘rattled’ by Trump
Me: Good
http://www.cnn.com/2016/05/26/politics/obama-g7-ise-shima/
Man, you are having fun with me today. This is the hardest you have trolled me in the three years I’ve been posting here.
The Original NJ ExPat says:
May 26, 2016 at 11:21 am
I think I could restyle Jeff Foxworthy’s “You might be redneck”…
If your street has lined shoulders, you might live on a busy street.
If the turkeys look both way before they cross, you might live on a busy street.
If you only back out of your driveway on a dare, you might live on a busy street.
If your mother-in-law is the only person you ask to park on the street, you might live on a busy street.
[70]Emergency workers dismantled the Asian-style squat toilet, with the python still twined through it. The snake was taken away to be released back into the wild in the state protected woods behind the house(where nobody can build), according to an emergency responder cited by the newspaper Thai Rath. A neighbor, Pumpkin X, commented, “Where else can I get this kind of lifestyle so close to New York City?”
Yup, the great pumpkin is coming! Always said real estate would hit another boom end of this decade and take off in the 2020’s. Evidence says people are going to be sorry for calling me an idiot. I still think a recession will hit soon, but after that, it’s go time baby. Onward to the next boom and bust.
chicagofinance says:
May 26, 2016 at 11:52 am
Here we go……it begins……TICK…TICK…TICK….TICK….
https://www.wellsfargo.com/mortgage/loan-programs/your-first-mortgage/
This pumpkin character seems like a smart guy.
I should have never said that. Going to be the new inside joke in which I’ll be reminded every day.
The Original NJ ExPat says:
May 26, 2016 at 12:37 pm
[70]Emergency workers dismantled the Asian-style squat toilet, with the python still twined through it. The snake was taken away to be released back into the wild in the state protected woods behind the house(where nobody can build), according to an emergency responder cited by the newspaper Thai Rath. A neighbor, Pumpkin X, commented, “Where else can I get this kind of lifestyle so close to New York City?”
Where else can I leave my driveway and accelerate to 50mph in less than 5 seconds as often as I want and never get a ticket this close to New York City?
Four pilots recovered after Navy jet collision off North Carolina coast. (F/A-18F Hornet fender bender)
http://wtkr.com/2016/05/26/report-of-plane-collision-off-north-carolina-coast/
I found a place quieter than Pumpkin’s house…..
https://www.youtube.com/watch?v=S65lJGs7YC8
Another myth blown out the water.
“If you raise rates on the rich, will you lose them to other states? A study of 45 million IRS records suggests it doesn’t work that way.
When it comes to taxes, millionaires have short fuses. Ratchet up their rates and they’ll blow you off and move to a low-tax, or no-tax, state.
Or so goes one argument against taxing the rich: States that levy a “millionaires tax” risk chasing those millionaires away to Florida, Texas, and other places with no income tax. Hedge fund manager David Tepper’s recent decision to move from New Jersey to Florida, possibly creating a billionaire-size hole in Jersey’s budget, raised alarms. Golf great Phil Mickelson, shortly after his infamous Dean Foods stock trade, complained about his high tax rate in California and threatened to move to Florida.
Now, a study based on 13 years of tax data finds that most millionaires don’t move cross-country just to avoid a tax bill. It turns out that the rich, while perhaps different from us, aren’t all that mobile. When they do move, it’s often for reasons that have nothing to do with taxes. For one thing, they appear to like the beach.””
http://www.bloomberg.com/news/articles/2016-05-26/higher-taxes-don-t-scare-millionaires-into-fleeing-their-homes-after-all
“They’re rattled by him and for good reason,” Obama said. “Because a lot of the proposals that he’s made display either ignorance of world affairs or a cavalier attitude or an interest in getting tweets and headlines instead of actually thinking through what is required to keep America safe.”
So we need to treat terrorists and illegal aliens nicer so they don’t hurt us so often?
You have me confused with expat. He lives in some building in Boston. He gets to listen to his neighbors bang the wall on a regular basis when they are fuc!ing. Now I know why he is so angry with me for stating the following, “Where else can I get this kind of lifestyle so close to New York City?”
chicagofinance says:
May 26, 2016 at 1:07 pm
I found a place quieter than Pumpkin’s house…..
https://www.youtube.com/watch?v=S65lJGs7YC8
Amen, now who on this blog wants to continue pushing bs myths?
“The researchers analyzed 45 million tax records, covering every filer who reported income of at least $1 million in any year from 1999 to 2011, and found that the rich are in fact less likely to move around than the poor. Typically, about half a million households report such an income, and only 2.4 percent of these taxpayers move from state to state in any given year. That compares with 2.9 percent of the general population and 4.5 percent of those earning about $10,000 a year.
Why are the wealthy, with all their resources, more likely to stay in one spot? The study notes that millionaires are likelier to be married, have kids, and own businesses, all conditions that tend to make moving more difficult. Wealthy people often form deep roots in their communities, ties that helped them succeed in the first place.
“Most millionaires are the ‘working rich,’ ” the study notes, with wealth that flows from the particular places where they’ve built business relationships. For a certain kind of tech entrepreneur, low-tax New Hampshire and Tennessee are no substitute for Silicon Valley. Wall Street lawyers need to stay near Wall Street. For a famous actor or director, Hollywood, Fla., is nothing like Hollywood, Calif.
The study also looked at regions of the country where it is easy for taxpayers to commute daily across state lines from low-tax states to high-tax states. Residents of Portland, Ore., for example, must pay a top state tax rate of 9.9 percent, while across the river in Vancouver, Wash., there’s no income tax at all. You would expect people of means to live on the low-tax side. Yet in these easily commutable border areas, “the difference in millionaire population at the state border is not significant,” the study concludes.
As for the jet-setting millionaire who has breakfast in Miami, spends the day in Manhattan, and wakes the next morning in his Idaho compound, changing where you’re taxed isn’t as simple as putting a different address on your 1040 form. States such as New York often demand proof from wealthy residents that they really have uprooted their lives and are spending more than half the year out of state.”
Pumpkin – your myth blower is a financial moron, like yourself. Read another of his articles. Myself or countless others here could point out many of his mistakes and omissions, but it would be a waste of time that wouldn’t help you due to your denseness (density?).
http://www.thinkadvisor.com/2015/10/13/i-moved-my-retirement-money-and-lived-to-tell-abou
84- Then ignore the data and be a fool. The numbers don’t lie no matter what you want to believe.
I wish there was a news outlet that certified that every reporter and editor had a college degree dated 1995 or earlier. I think 1995 is round about when the stupid started.
52. awesome
“Now, a study based on 13 years of tax data finds that most millionaires don’t move cross-country just to avoid a tax bill. It turns out that the rich, while perhaps different from us, aren’t all that mobile. When they do move, it’s often for reasons that have nothing to do with taxes. For one thing, they appear to like the beach.
The study, published in the June issue of the American Sociological Review, suggests that states—and countries—may have some leeway to raise taxes on the wealthy without scaring away their tax base. It has obvious political implications, possibly serving as ammunition for those who favor taxing the rich. It could help advance the arguments of presidential candidates Hillary Clinton and Bernie Sanders, for example, who have both proposed higher taxes on upper-income Americans. ”
The Original NJ ExPat says:
May 26, 2016 at 1:49 pm
I wish there was a news outlet that certified that every reporter and editor had a college degree dated 1995 or earlier. I think 1995 is round about when the stupid started.
Dumpkin – Read this closely and try to figure out what you missed. (Hint – If P-Diddy doesn’t move it doesn’t mean the rich haven’t left)
“The researchers analyzed 45 million tax records, covering every filer who reported income of at least $1 million in any year from 1999 to 2011”
We made a $4500 [involuntary] contribution to Obama-care last tax bill.
[89] Maybe I picked a bad example.
http://www.nj.com/entertainment/index.ssf/2015/04/diddy_alpine_mansion_for_sale.html
Pumpkin – Hint 2 – a millionaire isn’t defined as someone who earns more than $1 million a year. I would make very high wager that most millionaires don’t. If you follow my logic (a very large leap, indeed) you will understand why the below statement is patently false.
Now, a study based on 13 years of tax data finds that most millionaires don’t move cross-country just to avoid a tax bill.
You and the author are boobs of a feather, so why not stick together?
Listen, I understand what you are saying, but don’t tell me someone that was able to make a million in a year is not a millionaire. If you have the capabilities to pull off a million dollars in one year, chances are that you are a millionaire.
Now here is where you are really wrong, they conducted the study based on any individual that was able to make a million OR MORE in a given year.
So I’ll take your stupid bet. If the people with incomes over a million aren’t the millionaires, then who is? What are you trying to say, that these individuals that made a million or more in a given year are just regular joe’s?
The Original NJ ExPat says:
May 26, 2016 at 2:20 pm
Pumpkin – Hint 2 – a millionaire isn’t defined as someone who earns more than $1 million a year. I would make very high wager that most millionaires don’t. If you follow my logic (a very large leap, indeed) you will understand why the below statement is patently false.
Now, a study based on 13 years of tax data finds that most millionaires don’t move cross-country just to avoid a tax bill.
You and the author are boobs of a feather, so why not stick together?
Here we go.
http://www.nj.com/gloucester-county/index.ssf/2016/05/transgender_woman_claims_discrimination_in_mcdonal.html#incart_river_home_pop
When Hillary acquires the majority number of delegates, do you think it will be barely reported like Trump hitting the number today?
Wells Fargo.
Offers additional income and credit guidelines:
Credit history is expanded to include nontraditional sources, like tuition, rent or utility bill payments.
Income of others who will live in the home, such as family members or renters, can be considered.
If you can fog a mirror we will guarantee your
a mortgage up to $800,000.
If this was true, it would be easy to prove. Why would they lie? Did you read what they stated? People are tied to the communities they are making money in. They can’t just pick up and leave. Some can, but most can’t.
“Now, a study based on 13 years of tax data finds that most millionaires don’t move cross-country just to avoid a tax bill.”
95. MAGA
LOL – Donald Trump said Wednesday night on the Jimmy Kimmel Live! that he was prepared to debate Bernie Sanders.
LANCASTER, Calif. — In the latest twist to this unpredictable 2016 presidential race, presumptive Republican nominee Donald Trump and Vermont Sen. Bernie Sanders independently agreed Wednesday night to debate each other.
Looks like Hillary is being circumvented.
This is messed up. Opsec compromised?
Updated | A retired senior State Department military adviser claims that Hillary Clinton’s “sloppy communications with her senior staff” when she was secretary of state may have compromised at least two counterterrorism operations.
http://www.newsweek.com/hillary-clinton-email-terrorism-sloppy-communications-463605
Plumpkin’s butthurt on parade is just schadenfreudetastic.
[88] pumps
Two things to consider:
First, that was always true that not all HNW voters move because of taxes, and some may stay even with higher taxes. As we say, don’t let the tax tail wag the dog. That said, it is true for some that a significant move in taxes WILL motivate them to change tax residences. But that is ALWAYS part of a larger analysis.
Second, if they are well-advised, they will never admit that they moved for tax reasons. Google Hyatt v. Franchise Tax Board. That horror show is still going on.
chi (69)-
In honor of BC Bob:
Well they blew up the chicken man in Philly last night
Now they blew up his house too
Down on the boardwalk they’re gettin’ ready
For a fight gonna see what them racket boys can do
Now there’s trouble busin’ in from outta state
And the D.A. can’t get no relief
Gonna be a rumble out on the promenade and
The gamblin’ commission’s hangin’ on by the skin of its teeth
Well now everything dies baby that’s a fact
But maybe everything that dies someday comes back
Put your makeup on, fix your hair up pretty
And meet me tonight in Atlantic City
expat (71)-
Homebuyer education:
“Pay your goddam mortgage. Class dismissed.”
This should end really well.
plumpty (75)-
To fools like you, the fall of Weimar was prolly ‘go time’, too.
“I still think a recession will hit soon, but after that, it’s go time baby.”
plumpty (76)-
Very likely you’ll meet the same fate as jj. Poleaxed, and the last person to see it coming.
I would pay a pay-per-view rate to watch a Trump Sanders debate.
I am amazed as how folks like JJ and others with high paid jobs posted so much on this board. You wonder if someone found out and they looked at his posting frequency while at work?
Reminds me of the guy who always called into WFAN back in the 90’s I think, worked as a Pharma rep, eventually he got so well know that he was fired because he was calling in all the time …
dickweed – what don’t you get? You can’t base findings on surveying just Corvette owners and then say “most Chevy owners have cars with fiberglass bodies”
Listen, I understand what you are saying, but don’t tell me someone that was able to make a million in a year is not a millionaire. If you have the capabilities to pull off a million dollars in one year, chances are that you are a millionaire.
…and then come back with, “You can’t tell me that someone who is rich enough to own a Corvette isn’t a Chevy owner.”
interesting
The Great Pumpkin says:
May 26, 2016 at 1:27 pm
Amen, now who on this blog wants to continue pushing bs myths?
“The researchers analyzed 45 million tax records, covering every filer who reported income of at least $1 million in any year from 1999 to 2011, and found that the rich are in fact less likely to move around than the poor. Typically, about half a million households report such an income, and only 2.4 percent of these taxpayers move from state to state in any given year. That compares with 2.9 percent of the general population and 4.5 percent of those earning about $10,000 a year.
Why are the wealthy, with all their resources, more likely to stay in one spot? The study notes that millionaires are likelier to be married, have kids, and own businesses, all conditions that tend to make moving more difficult. Wealthy people often form deep roots in their communities, ties that helped them succeed in the first place.
“Most millionaires are the ‘working rich,’ ” the study notes, with wealth that flows from the particular places where they’ve built business relationships. For a certain kind of tech entrepreneur, low-tax New Hampshire and Tennessee are no substitute for Silicon Valley. Wall Street lawyers need to stay near Wall Street. For a famous actor or director, Hollywood, Fla., is nothing like Hollywood, Calif.
The study also looked at regions of the country where it is easy for taxpayers to commute daily across state lines from low-tax states to high-tax states. Residents of Portland, Ore., for example, must pay a top state tax rate of 9.9 percent, while across the river in Vancouver, Wash., there’s no income tax at all. You would expect people of means to live on the low-tax side. Yet in these easily commutable border areas, “the difference in millionaire population at the state border is not significant,” the study concludes.
As for the jet-setting millionaire who has breakfast in Miami, spends the day in Manhattan, and wakes the next morning in his Idaho compound, changing where you’re taxed isn’t as simple as putting a different address on your 1040 form. States such as New York often demand proof from wealthy residents that they really have uprooted their lives and are spending more than half the year out of state.”
15% of all US households have $1 million net worth. You need about $8 million net worth to be in the top 1%. The data in that crap article easily overlooks the vast majority of millionaires and comprises only 0.2% of tax returns filed. Saying anything about “most millionaires” based on that data is as dumb as overpaying for a house on a highway. That data only applies to people who have “Fcuk Me Money”, which is much higher net worth than “Fcuk You Money”. If you have Fcuk Me Money you can hurt yourself financially all day, every day and still somehow get richer.
Something for Joyce (if around still):
http://www.nytimes.com/2016/05/27/us/louisiana-enacts-hate-crimes-law-to-protect-a-new-group-police.html?_r=0
@SenSanders
A broken campaign finance system means the concentration of wealth in the hands of a few threatens both our economic and political freedom.
A Home Buyer,
The statistics in that article do not provide much support for the so called Ferguson Effect.
2. Bammer’s new house. Well after eight years I guess I finally understand it now. Someone’s hopes for change were realized.
Punkin and (1)……..I said it last night. Just stop, for you, not me. As usual your reading comprehension came in at D- and you continue to get a$$ rap3d. Go figure.
Jesus, you are hard headed. You think they are going to waste time putting together all the research that comes with a study like this, and f up the data? You are acting irrationally because you do not want to accept the evidence presented. Man, now I’m going to present you with some more evidence from various sources that all draw the same got damn conclusion.
If there is evidence to present the mass exodus of millionaires after a tax increase, IT IS NOWHERE TO BE FOUND! Know what your problem is, you don’t understand that after a certain amount of money, accumulating more means nothing unless you are hungry for power. Most millionaires are not hungry for power, they are content with what they have. So raising a tax 1-3% on them, will do nothing. They have more than enough money that they don’t give a fu!k about a tax hike. Wish you could understand this, because the data blatantly points it out. THEY ARE NOT MOVING BECAUSE OF TAXES! You think Tepper gives a rat’s a$$ about the taxes? Dude is worth billions. You really just don’t understand.
The Original NJ ExPat says:
May 26, 2016 at 4:40 pm
dickweed – what don’t you get? You can’t base findings on surveying just Corvette owners and then say “most Chevy owners have cars with fiberglass bodies”
Listen, I understand what you are saying, but don’t tell me someone that was able to make a million in a year is not a millionaire. If you have the capabilities to pull off a million dollars in one year, chances are that you are a millionaire.
Here’s some of what recent studies have found:
From 2003-2005, New York imposed a temporary tax hike on its highest-income residents. During the years that surcharge was in place the state saw a 30% growth in high-income tax returns.
New York consistently ranks high in its percentage of high net-worth households: currently New York is 12th among the 50 states. Significantly, four of the states that outrank New York have top income tax rates that are as high or higher.
The current income tax surcharge on the highest-paid people in New York was adopted in 2009. In the year after these high-end tax rates went into effect, the number of high-net-worth households in the state grew by more than 10%.
California voters raised the tax rate on millionaire earners to 10.3% – higher than New York’s current top rate. The outcome there? California’s millionaire households increased by nearly 38% over the three years after the voter-approved tax hike took effect in 2005 – while the total number of taxpayers rose only 4.2%.
A similar trend – disproportionate growth of high-income households – also followed when California temporarily raised high-end income taxes in the 1990s. The California Budget Project calls the idea that rich people have left the state due to taxes “one of the oft-cited urban legends in California politics.”
When the number of high-income households in a state increases, it can be hard to distinguish how much this stems from incomes rising in the upper brackets, and how much it stems from people moving from one state to another. Still, it’s striking that none of these studies found evidence for predictions that the rich will flee from higher taxes.
PRINCETON STUDY
Following the passage of a “half-millionaire” tax in New Jersey (at the same income level and rate as New York’s current surcharge), Princeton University researchers conducted a detailed analysis of individual New Jersey tax data before and after the tax change, which took effect as of January 1, 2004. The bottom line? New Jersey’s tax increase has raised close to $1 billion a year – and led fewer than 1% of affected households to consider a move out of state.
The authors of the Princeton study noted the difficulty of pinning down the motivating factors for migration patterns. But here’s what they did determine: people moving out of New Jersey are more likely to be on the lower end of the income scale, and move to places with lower housing costs.
SKEPTICISM
Similarly, a 2007 study by the New York City comptroller looked at population data for a recent period when New York City temporarily increased income taxes on top earners (also 2003-2005). According to The New York Times, the City’s study found that “households with incomes of $250,000 and higher were the least likely to leave.”
It’s possible that some wealthy people may consider moving out of state when their taxes rise, but studies have yet to demonstrate any statistically significant evidence for the idea. Rush Limbaugh loudly declared his departure after New York’s current surcharge was approved, but he’s likely outnumbered by others who move into New York for a job opportunity, or to be near family, or to take advantage of the concentration of business and cultural amenities supported here.
The Wall Street Journal’s Wealth Report pressed the head of the Partnership for New York City for hard data to back up the Partnership’s claims for rich people leaving New York due to tax rates. “It’s a very difficult thing to measure” she said, and added, “We get a lot of it anecdotally. Our evidence is from conversations with lots of high earners.”
The lack of sound data methods aside, there’s reason for skepticism when anti-tax advocates base their claims on individual examples. The Partnership consistently advocates against taxes for high-income earners (see p.4), so it’s reasonable to think that its anecdotal sample is not random.
David Thompson of Phoenix Affluent Market, a firm that provides state rankings of high-net-worth households, commented on the fact that some of the top-ranked states have high income tax rates on the wealthy. “Most high-net-worth households don’t base their living decision on tax rates, but on things like quality of life, access to good education, infrastructure and culture,” he told the Journal’s Wealth Report.
New York, particularly Manhattan, has a special advantage of attracting and retaining wealthy residents: its cultural and business amenities and infrastructure. The fact that the vast majority of the state’s income is generated in New York City suggests that even relatively high State and City taxes – not to mention the cost of real estate and private school tuition – don’t scare off high earners.
Meanwhile, everyday New Yorkers face limited job prospects and declining state services. As BMCC student Jenny Perdomo told Clarion during the fight over last year’s State budget, “I think the people who are actually moving out of the city are not the rich. They’re the hardworking people, like my sister, who just recently moved to North Carolina.”
If the surcharge on New York’s highest incomes is allowed to expire, public services will deteriorate – and regular New Yorkers will suffer. We should make sure that budget decisions are based on facts, not myths – no matter how often those myths are repeated.”
http://psc-cuny.org/clarion/april-2011/are-highest-paid-people-leaving-new-york
I understand the data, the team that assembled it understand the data, it’s just you and dumb fcuk your age who wrote the article that don’t understand it.
Jesus, you are hard headed. You think they are going to waste time putting together all the research that comes with a study like this, and f up the data?
119-
Not one study comes up with the evidence to support your myth. So stop spreading it.
You are only helping the super wealthy that are obsessed with power.
“Supporters of tax cuts for the rich never get tired of repeating the same claim:
If you tax rich people, they will leave.
Governor Cuomo has said it. Mayor Bloomberg has said it. The Partnership for New York City, a group of 200 CEOs, has said it. But despite how often this line is repeated, there’s no evidence for the claim that wealthy populations are moving in response to tax rates – and quite a bit of evidence points in the opposite direction.
THE FACTS
“Taxes Not Seen as Making the Rich Flee New York,” concluded a 2009 analysis in The New York Times that looked at the data behind the claims. The Wall Street Journal’s Wealth Report reached the same conclusion in February 2011: “New York’s Vanishing Millionaires – and Other Myths” was how the Journal summed it up.
Show me the evidence that millionaires leave with tax hikes. NO NEED TO GET MAD AND TALK DOWN TO ME. SHOW ME THE EVIDENCE.
The Original NJ ExPat says:
May 26, 2016 at 6:49 pm
I understand the data, the team that assembled it understand the data, it’s just you and dumb fcuk your age who wrote the article that don’t understand it.
Jesus, you are hard headed. You think they are going to waste time putting together all the research that comes with a study like this, and f up the data?
Clot, nice.
On my second night in AC. These outlets are actually pretty good. Invested some winnings today in sunglass hut, Eddie Bauer, and Polo. And of course the obligatory martinis and filet at mortons (x2).
Had to stay on the double attack at the trop until 330a to get back some stupid losses. Hat tip to the pit boss Anthony for bringing in the rookie new dealer when the table emptied.
Off back to the coal mines, like a cheap backpage escort…..
Have you devoted your entire life to missing the point? You define what constitutes a millionaire and then I’ll type slowly with small words and take you to square two. If you don’t know, care, or understand what a millionaire is you don’t possess the cognitive abilities to graduate beyond cut and pasting.
Show me the evidence that millionaires leave with tax hikes. NO NEED TO GET MAD AND TALK DOWN TO ME. SHOW ME THE EVIDENCE.
Net worth. But how can you use net worth when so much money is hidden?
So how does one become a millionaire? By the income they make. Once again, if someone makes a million or more in any given year, it’s highly probable that they are millionaires. Why is this so difficult to understand? Regular joe schmoes don’t ever make a million or more in a given year, only people that know how to make money do. That’s why the data is based on incomes of a million or more. Sure, a steady income of 300,000 can lead to someone becoming a millionaire if they play their cards right, but if they do become a true millionaire, chances are that income would have eclipsed a million or more on any given year in a 13 year time frame. No way you become a true millionaire without that, it’s mathematically impossible.
The Original NJ ExPat says:
May 26, 2016 at 7:20 pm
Have you devoted your entire life to missing the point? You define what constitutes a millionaire and then I’ll type slowly with small words and take you to square two. If you don’t know, care, or understand what a millionaire is you don’t possess the cognitive abilities to graduate beyond cut and pasting.
Show me the evidence that millionaires leave with tax hikes. NO NEED TO GET MAD AND TALK DOWN TO ME. SHOW ME THE EVIDENCE.
125-
If you looked into the data, the people most likely to move are low income. They move to a lower cost of living location.
Also, you could draw the conclusions from the data that millionaires do leave, but are replaced and then some.
The one thing you can’t deny, the premise of all the studies, the amount of millionaires does not decrease under an increase in taxes. It has grown in every study that was conducted.
“…without that, it’s mathematically impossible.”
never ceases to amaze
““Supporters of tax cuts for the rich never get tired of repeating the same claim:
If you tax rich people, they will leave.”
It is true. It isn’t the same level of tax for all of them, but it is true.
As Colbert (Jean Baptiste, not Stephen) put it “The art of taxation consists in so plucking the goose as to obtain the largest possible amount of feathers with the smallest possible amount of hissing” (sometimes attributed to J.S. Mill). The hissing increases as the rate increases–not uniformly but at some point, you reach deadweight loss.
Name the President (no googling)
““An economy hampered by restrictive tax rates will never produce enough revenue to balance our budget, just as it will never produce enough jobs or enough profits”
[129] Kennedy. You can hear the audio and read the transcript of the speech here:
http://www.americanrhetoric.com/speeches/jfkeconomicclubaddress.html
The next line is interesting too.
“Surely the lesson of the last decade is that budget deficits are not caused by wild-eyed spenders but by slow economic growth and periodic recessions, and any new recession would break all deficit records.”
Coincidentally, I came back to post another quote from a past president. A quote that explains why Pumpkin reaps what he sows:
“Ridicule is the only weapon which can be used against unintelligible propositions”
-Thomas Jefferson
OK, a millionaire is a household with $1 million net worth and that then is the group with which we will concern ourselves.
Step 2. Do a little bit of research and report back how many households meet this criteria in the US.
Here’s some more reading on the subject:
http://www.nj.com/news/index.ssf/2015/01/10000_millionaire_households_fled_nj_last_year_study_says.html
The Great Pumpkin says:
May 26, 2016 at 7:46 pm
Net worth. But how can you use net worth when so much money is hidden?
Some good comments from that article, expat.
“What good are Republican talking points when there is no truth to any of them. Millionaires love NJ. NUMBER 3 IN THE NATION. They like us better than 47 other states! Really, what more is there to say?”
“If you want cheap living, you need to all move to a state that has less millionaires!”
“Upon leaving, a millionaire has to sell their house. Who is going to buy that house except another millionaire? “
This whole Trump and Bernie debate farce stirred some grey matter today. I may actually need to get armed for the “American Spring”.It is going to be a hot contested summer, and I am not going near Philly and yes I watched The LBJ
movie last night.
[133] Gave up on the math already, pumps? Shocker. You and all your neighbors on Pumpkin X Boulevard will be wealthy soon. I used to have a house in Centerport, NY that had a big, beautiful front lawn, with the house set way back from the road on a hill. I’m lucky it was situated that way because it was on a busy street and right on a really bad curve. I had to call the cops about every other month when I would hear the screeching tires and the car hitting my side woods (How about that? I was living with woods behind me, both sides of me, and actually closer to NYC than you). Also I think only 1 out of 6 or 7 of those cars failed to miss my mailbox. One driver, who actually got a DUI (is it DWI in NJ still?) actually knocked on my door a few days later and handed me a new mailbox. It became just standard yard work for me to put the 4×4 post back in the ground and put a new cheapest white Home Depot mailbox back on and slap the vinyl numbers back on. Count your blessings you live on a straight busy road. Here’s the house. The new owners must have put those rocks and trees there where my mailbox used to stand. If you look closely they have pretty beaten up mailbox to the left of the driveway.
https://www.dropbox.com/s/4jxmsseq0636205/Screenshot%202016-05-26%2023.17.46.png?dl=0