From CNBC:
House flipping heats up, creating ‘home price pressure cooker’
It looks so easy on TV. Buy a bargain-basement house, pull up some nasty carpet, re-tile the bathroom, paint away the wall stains and sell it for a hefty profit.
It’s not, however, all those popular shows that are driving the flipping market today. It’s pure and simple prices — and profit. There is a severe lack of good quality, turn-key homes for sale, and that has created a seller’s market across the nation, even for those reselling homes.
After cooling off in 2014, home flipping is on the rise again — its share of all home sales is up 20 percent in the first three months of this year from the previous quarter and up 3 percent from the same period a year ago, according to a new report from RealtyTrac, which defines a flip as a property bought and resold within a 12-month period.
While flipping today is nothing like it was during the housing boom a decade ago, when investors used risky mortgages, it is reaching new peaks in 7 percent of the nation’s metro markets, including Baltimore, Buffalo, New Orleans, San Diego and even pricey Seattle.
“While responsible home flipping is helpful for a housing market, excessive and irresponsible flipping activity can contribute to a home price pressure cooker that overheats a housing market, and we are starting to see evidence of that pressure cooker environment in a handful of markets,” said Daren Blomquist, senior vice president at RealtyTrac.
What the f*ck is this quote in the above article?
“It’s like birthing a baby. … If you’re overpriced, you’re dead in the water.”
-Dana Rice, real estate agent and home flipper
It’s like eating a hamburger … if your head itches, you must be in downtown Cleveland.
From the Record:
Cichowski: Midland Park won’t budge on ban: no parking, no exceptions
If public sympathy and media interviews were all it took to make an exception to a local ban on overnight street parking, Ken Klabouch would have sold his tiny house in Midland Park by now.
The cozy, refurbished four-room home on Center Street is structurally sound, but it has a big legal flaw: No driveway and not enough room to build one — factors that make it nearly unmarketable.
“Everybody I talk to thinks I’m getting a raw deal,” the father of two said Wednesday.
Klabouch’s phone hasn’t stopped ringing since this column noted his plight on Tuesday. But that hasn’t swayed the mayor and council: They have twice rejected his pleas to exempt his car from the ban. With nearly six decades of law enforcement under his belt, Mayor Harry Shortway reiterated his stand against allowing parking in front of 24 Center St. from 2 to 6 a.m.
“I feel real sorry for him, but I can’t do it,” said Shortway, a Bergen County undersheriff and former Ridgewood officer. “If we do it for him, everybody will want an exemption.”
Shortway and Police Chief Michael Powderley insisted that the overnight parking ban makes it easier for police to spot abandoned vehicles and cars they consider suspicious in nature and, they said, it simplifies street sweeping and snow removal. They appeared unmoved when Klabouch noted that his 12,000-square-foot property was the only lot in the borough too small to accommodate a driveway. The fact that he added a bedroom and renovated the plumbing and electrical systems didn’t count for much, either.
When prospective buyers learn about the local government’s decision, they decide against making bids, said real-estate agent David Radney. “At least 50 people have walked away after showing some interest,” said Radney. Even reducing the asking price from $310,000 to $290,000 hasn’t helped.
No on-street parking is huge for real estate prices.
Forgot, and just got a ticket for it a few weeks ago.
Damnit.
Midland Park should hold fast, no exceptions.
[1] grim – It gets even more convoluted with the baby metaphor if you watch the video that goes with the story. In the video the dopey 49 year old red-head reporter is standing in front of the house yapping and then says “…and every time, she says, it is like birthing a baby” (cut to Dana Rice inside the house)“Absolutely not as easy as it looks. It is long hours and, you know, people need to get in and there’s a snowstorm, and if you don’t have a stomach for risk, uh, it, it can be very, very, um, an unhappy experience, but in the end, you get the baby.”
I think both Diana Olick and Dana Rice are going through “the change”, so they have babies on their mind.
http://www.cnbc.com/diana-olick/
What the f*ck is this quote in the above article?
“It’s like birthing a baby. … If you’re overpriced, you’re dead in the water.”
-Dana Rice, real estate agent and home flipper
Here’s a telling glimpse into the ins and outs of Boston politics:
http://electionstats.state.ma.us/candidates/view/Kevin-G-Honan/
It’s like eating a hamburger … if your head itches, you must be in downtown Cleveland.
LOL! That was great!
Jobs: 38,000 UE 4.7
Verizon Strike impact of -35,000 included
Lowest since 2010
Way low…
Lefty, you write this? Right up your alley.
“So I was a little surprised when several readers took issue with my characterization of the mortgage deduction in my column Wednesday as a “subsidy for the affluent.” There was the funny fellow who requested, “Please do your research before posting such clearly social!st comments,” but also serious-sounding commenters and e-mailers who seemed to think that, in part because the interest deduction isn’t granted for mortgage amounts above $1 million, it isn’t chiefly benefiting the affluent.
The numbers on who takes advantage of the mortgage interest deduction are straightforward: According to the Joint Committee on Taxation of the U.S. Congress, which is run by Republicans these days and thus presumably isn’t social!st, 82 percent of the $72 billion in tax savings from the mortgage interest deduction in 2014 flowed to taxpayers earning more than $100,000 a year, with 42 percent going to those with incomes of $200,000 or more.
So I guess the real question is whether $100,000 or $200,000 in annual income makes a person affluent. Households making $100,000 or more constituted the top 24.7 percent of American households in 2014, according to the U.S. Census Bureau. To put it differently, they’re better off than three quarters of the country. Those making $200,000 or more were in the top 5.6% of households in 2014. The threshold income for membership in the infamous One Percent, according to the calculations of Thomas Piketty and Emanuel Saez, was $423,090 including capital gains and $387,810 excluding them in 2014.
Now, I realize that $100,000 or $200,000 or even $423,090 doesn’t go nearly as far in New York City or San Francisco as it does in, say, McAllen, Texas. There are lots of people making that kind of money in big cities and fancy suburbs who don’t have much in the way of savings and are stretching to make their mortgage payments.
These are the folks my former Fortune magazine colleague Shawn Tully dubbed “HENRYs” (for high earners, not rich yet), and economists Greg Kaplan, Giovanni L. Violante and Justin Weidner called “the wealthy hand-to-mouth.” They work long hours, they make big investments in education for themselves and their kids, and they pay among the country’s highest tax rates (the federal tax system is progressive up to somewhere high in the One Percent, where capital gains income and tax shelters begin to bring rates down). They’re not spending their days lounging poolside or eating bon bons — although I can report from personal experience that some of them permit themselves a piece or two of dark chocolate before bed.
But are these people affluent? Heck yeah! The median household income in the U.S. in 2014 was $53,657. If you’re making twice that, or more, you are doing quite well from the perspective of your fellow citizens in what happens to be one of the richest nations on earth. And yes, a tax break that chiefly benefits you and others like you is in fact a subsidy for the affluent.”
http://www.bloomberg.com/view/articles/2016-06-03/yes-a-six-figure-income-means-you-re-affluent
It’s like a solution to any problem ….if the world is falling apart, billionaires must pay no taxes
grim says:
June 3, 2016 at 6:02 am
It’s like eating a hamburger … if your head itches, you must be in downtown Cleveland.
Guess in a way it’s true. High cost of living is due to housing. If housing is more expensive, it’s not really lost money, being that housing usually maintains it’s value in the long run. So yes, someone living in a high cost of living area spends more on housing, but if they own, they are just putting money in the bank. When it comes to other goods, they are relatively the same cost esp with national online merchants like amazon. So someone living in a high cost of living area and making 200,000 a year is indeed better off than someone with a lower wage in a lower cost of living area (if they own, not rent, and didn’t buy a bad piece of real estate).
“But are these people affluent? Heck yeah! The median household income in the U.S. in 2014 was $53,657. If you’re making twice that, or more, you are doing quite well from the perspective of your fellow citizens in what happens to be one of the richest nations on earth. And yes, a tax break that chiefly benefits you and others like you is in fact a subsidy for the affluent.””
It is an embarrassment. I throw this report at the feet of the President……and I generally don’t point fingers in this manner……..
1987 Condo says:
June 3, 2016 at 8:30 am
Jobs: 38,000 UE 4.7
Verizon Strike impact of -35,000 included
Lowest since 2010
Way low…
Anon – Here’s some friendly advice. Stop posting. Unless your ultimate goal is to make Blumpkin look like an Einstein.
Market should hit new highs again once the market digests this economic report and translates it into no new interest rate increase by the fed, even though I personally would be for it. Then again, the only debt I have is nearly paid off and fixed.
J.P. Morgan Chase & Co. Chief Executive James Dimon on Thursday called the auto-lending market “a little stretched,” the latest warning about a part of the economy that has boomed this decade.
The head of the nation’s largest bank by assets said that the $1 trillion auto-loan market, which has grown along with the economy, falling unemployment and a recent decline in gasoline prices, may not remain a bright spot for long.
“Someone is going to get hurt,” he said. “It won’t be us.”
38k. My god. I guess even the Twitiot won’t be trying to spin this POS
Eliminate the MID – rents will increase, and the wealthy will just use a very simple loophole to regain the same benefit for their families.
Taxpayers bailed out the banks in 2009, taxpayers will bail them out again.
James Dimon bonus will never be at risk
chi says:
June 3, 2016 at 9:20 am
“Someone is going to get hurt,” he said. “It won’t be us.”
Chi [17];
I have yet to see any publication tackle the notion that cars in the US are in a bubble. Reasons can include cheap lending; dearth of low-end used car supply due to cash-for-clunkers. But there can be no doubt that one exists. Less than a decade ago, a tricked-out Escalade or Navigator went for $50k. Today, a Ford Fiesta stickers for $18k? An Explorer pushes $40k? It must be a lending bubble to support those prices.
Average car loan now > $30,000, average payment > $500 a month, average term about 68 months
Perhaps the auto bubble pops when the average car lasts less than the loans do?
Recession creeping in? Just when consumer spending picked up, this comes.
1987 Condo says:
June 3, 2016 at 8:30 am
Jobs: 38,000 UE 4.7
Verizon Strike impact of -35,000 included
Lowest since 2010
Way low…
I don’t understand the need to continually escalate automobile features and trim levels. The price of a Honda Civic is astronomical now.
I wish I kept my 1997 Wrangler TJ.
Why don’t they make cars for people who just don’t care about all of this nonsense.
Lib [23];
Perhaps the auto bubble pops when the average car lasts less than the loans do?
We’re already there. Lots of people roll “negative equity” from the old car into a new loan. The F&I guys at the dealership love it: they get paid based on the principal amount financed. Just like the mortgage brokers and the Realtors did. We’ve all seen this movie before.
They do sort of. Scion.
I know someone who rolled their auto loans into a 30 year mortgage refinance.
I screamed bloody murder, they thought it was a great deal.
My Mazda 6 is on a 60 month. It’s at zero interest and no financing charge. I would have done a 30-year if they let me.
By the way, Union Collision are good people if you ever need body work done. They found out about my son and wouldn’t charge me for about $3K of work above the cost of the parts which were stupidly about $1,000. I’m still pissed about that damn blind spot sensor. I had to replace the bumper too. What a crock.
Grim [25];
What I don’t get is why people are stupid enough to pay a premium to get their bells and whistles from the dealer. When I bought my CR-V, the model with a Nav system cost $1k more. I went out and bought a Garmin for $200 – same result. WTF?
You want a heads-up display? They’re on the internet for $50. Dashcam DVR with GPS, shock sensor, multi-cameras? Less than $100, and it replaces your rear-view mirror so you won’t get dinged for “obstructing the windshield”.
[15] – It is absolutely a lending bubble, but they had to do something with all the channel-stuffed vehicles. I haven’t priced any used vehicles lately, but I have read that used cars are selling for very low prices right now, which makes sense if they’ve pulled all the demand forward into new vehicles. Last year I turned my 2011 Mazda6 back in after a 42 month, 42,000 mile lease. When the lease was up it only had 32,000 miles with oil changes (synthetic) every 5K miles. The lease was only $222 per month with almost nothing down and no trade. I had fully intended to buy the car for about $13K at the end of the lease because I thought I could flip it and make a few grand with the low miles, maintenance records, perfect condition. I looked around and found that $13K was just about market value so I didn’t see the point.
I have yet to see any publication tackle the notion that cars in the US are in a bubble. Reasons can include cheap lending; dearth of low-end used car supply due to cash-for-clunkers. But there can be no doubt that one exists. Less than a decade ago, a tricked-out Escalade or Navigator went for $50k. Today, a Ford Fiesta stickers for $18k? An Explorer pushes $40k? It must be a lending bubble to support those prices.
It continually floors me the price of a pickup truck.
Nonsense.
We need a good pickup from China or India – and maybe America will go back to real truck roots.
A $40k work truck makes absolutely no sense.
At least in 22 years their cars will be half paid off.
I know someone who rolled their auto loans into a 30 year mortgage refinance.
I screamed bloody murder, they thought it was a great deal.
Not enough demand, or not enough profit.
“Why don’t they make cars for people who just don’t care about all of this nonsense.”
[33] They should have ziptrucks, just like zipcar. Rent a pickup by the hour or day.
It continually floors me the price of a pickup truck.
Top of the line Mahindra Bolero Camper (Crew Cab pickup) – $10k new. Even top of the line Tata Xenon pickup – $15k.
I’m on my third Mazda 6 recall in under two years. I will never buy a GT again. My next car is going to be whatever I can still get that doesn’t have power anything.
Tata Xenon – Australia – $17k.
https://www.youtube.com/watch?v=lxVnHEfVamY
How about the Mahindra mini van. An 8-seater for 6K that runs on CNG. Though, it can’t even go 45MPH. It does get 47 MPG.
CNG is $1.79 a gallon too.
I need to buy my wife a hybrid. Her average trip length has to be under 2 miles. I’m thinking about a used hybrid Camry. I think the battery pack is under warranty for 8 years, so I’m thinking a 2012 or newer. Anybody know anything good or bad about them?
I’d confirm the warranty length of the hybrid battery. Does it transfer to 2nd owners?
I wouldn’t buy a hybrid.
Twice the shit to break, that doesn’t outweigh the benefits.
For short-drives, you absolutely need a plug in hybrid, which can run in EV only mode – which pushes the price up astronomically (I don’t believe Camry Hybrid is plug in capable anyway).
Burn dinosaurs.
Or import a 3-wheeler from India.
“One final observation: As of 2014, the median household income, adjusted for inflation, was still lower than in 2007. So was the minimum income of the top 10 percent and the top 1 percent. Even the very high minimum income for the top 0.1 percent was a remarkable 20 percent lower in 2014 than in 2007. This eloquently illustrates the main public policy story of the past 10 years: The failure to stem the last recession and stimulate a more robust recovery has harmed all Americans, including the rich.”
http://www.bloomberg.com/view/articles/2016-06-03/the-rich-are-different-and-it-matters
“NPLs in China may eventually trigger a government bailout, according to Standard Chartered economists led by Ding Shuang. Soured debt could have reached 14 trillion yuan at the end of 2015, while cleaning up bank balance sheets through a combination of removing bad debt and recapitalization could cost as much as 15 percent of China’s gross domestic product, they said in a May 24 report.
“Chinese authorities have yet to accept that a bank bailout costing trillions will be required,” Anne Stevenson-Yang, the co-founder of J Capital Research, a Hong Kong-based advisory firm, wrote in a May 31 note. “We expect that it will be required soon.””
http://www.bloomberg.com/news/articles/2016-06-02/china-toxic-debt-solution-has-one-big-problem-as-banks-buy-npls
Never ever trust a man named Ding Shuang.
Mahindra Bolero Camper:
There are some amongst us who are adventure seekers. This is their vehicle. Their other half, their new Bolero Camper DX. And you will find them in places that are hard to find. Places that even roads shy away from. You will find them because you will be there too. In your Bolero Camper DX.
•Grille ornament for a more commanding presence
•Power steering for easy maneuverability
•Independent Front Suspension
•Clear lens hand lamp to brighten up your path
•Stylish New upholstery
•5 speed gear box with synchromesh
•2523cc Di Turbo diesel engine
•63 HP (46.5 Kw) @ 32000 RPM
•Available in English silver, fiery black and mist silver for arresting presence.
•Muscular front bumper
•Heavy duty cargo box
•Blend-in side indicator lamp
•Stand out wheel arches
•Decals that set you apart
•Bright clear lens tail light for greater visibility
•Low side step for easy and entry
•Ergonomic door grab handle
•Large dials for greater readability
•Voluminous Glove box
•137.5 NM of raw TORQUE (1440-1500 RPM)
What a bunch of cheap bastards. These guys are as greedy as they come. Of course they will fight this tooth and nail, they are the real life “Mr. Burns” of our country.
“Billionaire brothers Charles and David Koch have made plenty of good business decisions over the years. Placing millions of dollars with Ponzi-scheme mastermind Bernard Madoff may have been one of them.
Koch Industries Inc. invested an unknown sum with the con man’s now-defunct securities firm years ago, and walked away with $21.5 million in profits before Madoff’s arrest in 2008. But since 2012 the company run by the conservative-activist brothers, worth today a combined $109 billion, has refused legal demands to return the money.
Irving Picard, the trustee liquidating Madoff’s firm, contends in a suit that the cash is fraudulent proceeds of the scam and should be shared among the thousands of victims. Koch Industries, and dozens of other early investors named in 87 other lawsuits, argue the company can keep the profits because the money was sent overseas and is beyond U.S. jurisdiction. At stake: a total of $2 billion”
http://www.bloomberg.com/news/articles/2016-06-03/as-koch-brothers-cling-to-madoff-cash-a-new-legal-battle-arises
Does it get bonus points for being nearly as ugly as the Mercedes Benz G-Wagon at 1/10th the price?
I was a recent passenger in a $55k Ford f150 -2016. very nice. They even have ambient mood lighting for the interior- 15 choices. It’s like a strip club.
1/15th the price.
I kick myself every few months for getting rid of my old Jeep.
I love manual power windows.
That’s my stripper name.
[51] pumps,
$2B is a lot of moola and certainly worth fighting over, especially since Picard has a very shaky case. Many people who left the scheme before it collapsed were shamed or strongarmed into returning the “ill gotten” gains but I always found the legal basis for Picard’s position to be shaky. And apparently, so do the courts:
http://www.usatoday.com/story/money/2015/06/22/supreme-court-denies-madoff-trustee/29121861/
The Kochs don’t care what you think of them. So they’ll fight and if they win, then the same people that hate them now will hate them still but they’ll be richer and still won’t care what you think. But they will have done what I consider to have been a service; to fight a perceived abuse of power.
Nom, the koch brothers are fighting over 21 million dollars. Don’t tell me that’s not cheap, and a pure sign of greed. They are worth 109 billion combined, and they won’t give up 21 million from a ponzi scheme? As cheap/greedy as it gets, with no morals whatsoever to go along with it. “Make it anyway you can, even if it’s the dirty way” would be their slogan.
Comrade Nom Deplume, the anon-tidote says:
June 3, 2016 at 12:12 pm
[51] pumps,
$2B is a lot of moola and certainly worth fighting over, especially since Picard has a very shaky case. Many people who left the scheme before it collapsed were shamed or strongarmed into returning the “ill gotten” gains but I always found the legal basis for Picard’s position to be shaky. And apparently, so do the courts:
http://www.usatoday.com/story/money/2015/06/22/supreme-court-denies-madoff-trustee/29121861/
The Kochs don’t care what you think of them. So they’ll fight and if they win, then the same people that hate them now will hate them still but they’ll be richer and still won’t care what you think. But they will have done what I consider to have been a service; to fight a perceived abuse of powe
This car discussion is timely as I am struggling with a car decision myself for a soon to be newly minted driver in high school. Coming from a guy who bought his first used rusted out Honda Accord (hatchback!) for $1,800 in the mid 80’s, I’ve always told my kids (when they were younger) that they should expect to save up to buy a used car when it was time. Fast forward to the culture today where it seems every month she comes home to tell me that one of her friends in school got a brand new BMW, Mercedes, Wranglers, etc. and I’m left wondering. The argument I go through in my head for a new car is for the safety features – blind side, brake warning, etc. OTH, do I give in to the peer pressure and forsake the lesson of working for something on your own? (She doesn’t have enough saved anyway at this point. She spends generously!) I see ads for cheap leases on lower model Hyundais, Fords, etc. and was thinking maybe I should take a look at those options. She is smitten with the Wrangler. Thoughts?
Damn, really good thought provoking article from 1987.
“At this point it’s instructive to recall the common complaint that archaeology is a luxury, concerned with the remote past, and offering no lessons for the present. Archaeologists studying the rise of farming have reconstructed a crucial stage at which we made the worst mistake in human history. Forced to choose between limiting population or trying to increase food production, we chose the latter and ended up with starvation, warfare, and tyranny.
Hunter-gatherers practiced the most successful and longest-lasting life style in human history. In contrast, we’re still struggling with the mess into which agriculture has tumbled us, and it’s unclear whether we can solve it. Suppose that an archaeologist who had visited from outer space were trying to explain human history to his fellow spacelings. He might illustrate the results of his digs by a 24-hour clock on which one hour represents 100,000 years of real past time. If the history of the human race began at midnight, then we would now be almost at the end of our first day. We lived as hunter-gatherers for nearly the whole of that day, from midnight through dawn, noon, and sunset. Finally, at 11:54 p. m. we adopted agriculture. As our second midnight approaches, will the plight of famine-stricken peasants gradually spread to engulf us all? Or will we somehow achieve those seductive blessings that we imagine behind agriculture’s glittering facade, and that have so far eluded us?”
http://discovermagazine.com/1987/may/02-the-worst-mistake-in-the-history-of-the-human-race
Most drivers crash their first cars. Until your kid is a sophomore in college, find a 6-8 year old Civic/Camry/Altima etc. Once you see what insurance costs for a young driver, you’ll understand why buying a new car is crazy. With an 80K miler, no need to pay for collision coverage. When kid proves he/she is not a college jack off, then spring for the fancy wheels as a reward for working hard on grades Frosh year.
60- Really interesting stuff. Did agriculture lead to the creation of elite classes? Allow for certain individuals to live off the labor of others? Best part, the people doing all the work were malnourished while the elite(who did nothing, but live off the spoils of others) were fully nourished. Things never change, do they.
“Besides malnutrition, starvation, and epidemic diseases, farming helped bring another curse upon humanity: deep class divisions. Hunter-gatherers have little or no stored food, and no concentrated food sources, like an orchard or a herd of cows: they live off the wild plants and animals they obtain each day. Therefore, there can be no kings, no class of social parasites who grow fat on food seized from others. Only in a farming population could a healthy, non-producing elite set itself above the disease-ridden masses. Skeletons from Greek tombs at Mycenae c. 1500 B. C. suggest that royals enjoyed a better diet than commoners, since the royal skeletons were two or three inches taller and had better teeth (on the average, one instead of six cavities or missing teeth). Among Chilean mummies from c. A. D. 1000, the elite were distinguished not only by ornaments and gold hair clips but also by a fourfold lower rate of bone lesions caused by disease.
Similar contrasts in nutrition and health persist on a global scale today. To people in rich countries like the U. S., it sounds ridiculous to extol the virtues of hunting and gathering. But Americans are an elite, dependent on oil and minerals that must often be imported from countries with poorer health and nutrition. If one could choose between being a peasant farmer in Ethiopia or a bushman gatherer in the Kalahari, which do you think would be the better choice?
Farming may have encouraged inequality between the sexes, as well. Freed from the need to transport their babies during a nomadic existence, and under pressure to produce more hands to till the fields, farming women tended to have more frequent pregnancies than their hunter-gatherer counterparts — with consequent drains on their health. Among the Chilean mummies for example, more women than men had bone lesions from infectious disease.
Women in agricultural societies were sometimes made beasts of burden. In New Guinea farming communities today I often see women staggering under loads of vegetables and firewood while the men walk empty-handed. Once while on a field trip there studying birds, I offered to pay some villagers to carry supplies from an airstrip to my mountain camp. The heaviest item was a 110-pound bag of rice, which I lashed to a pole and assigned to a team of four men to shoulder together. When I eventually caught up with the villagers, the men were carrying light loads, while one small woman weighing less than the bag of rice was bent under it, supporting its weight by a cord across her temples.
As for the claim that agriculture encouraged the flowering of art by providing us with leisure time, modern hunter-gatherers have at least as much free time as do farmers. The whole emphasis on leisure time as a critical factor seems to me misguided. Gorillas have had ample free time to build their own Parthenon, had they wanted to. While post-agricultural technological advances did make new art forms possible and preservation of art easier, great paintings and sculptures were already being produced by hunter-gatherers 15,000 years ago, and were still being produced as recently as the last century by such hunter-gatherers as some Eskimos and the Indians of the Pacific Northwest.
Thus with the advent of agriculture and elite became better off, but most people became worse off. Instead of swallowing the progressivist party line that we chose agriculture because it was good for us, we must ask how we got trapped by it despite its pitfalls.”
(61) Lib,
That’s certainly more along the lines of my thinking. But then, all the new car safety features get you thinking…. Indeed, I talked to a few parents and I have heard their insurance premiums jumped anywhere from 50 – 150%! The higher end seems to be for the ones with boys. I’ll face that too a couple of years from now. Ouch!
Grim/30 Year –
I posted this yesterday. Wonder if you (or anyone else) might have any insight as to the divergence in the numbers. Am I looking at this correctly? Which measure would you go with?
****************
I was trying to get an idea of how much homes in northern Bergen county may have appreciated in the last 4 to 5 years but am running into some conflicting data that doesn’t jive with the recent headlines of 4-5% annual price appreciations the last few years. Using Case Shiller (using NY Home Prices) would seem to indicate roughly an 8% appreciation over the past 4+ years whereas the NAR Median Sales Price (using NY-Wayne-White Plains) seems to show 2-3% appreciation since 2013 (most recent available). Trulia/Zillow (not that I give those much consideration) shows about a 12% appreciation over the period for the Top Tier (I think that is defined as $750K+) homes in my area. What am I missing here? Why are these numbers all over the board? Would using the good old rule of thumb of 4-5% increase annually (from 2012 or so) be good enough? Thoughts?
I found JJ!
http://www.msn.com/en-us/news/world/pakistani-father-of-35-aims-for-100-children/ar-BBtOBGs?li=BBnb7Kz
I can full see the benefit of car on demand (ie Uber/Lyft) when one analyses the total monthly cost of car, insurance, gas and the stress of a young inexperienced driver behind the wheel.
Def going to be the transportation of the future for the masses. Only the wealthy will have their own car (most likely with it’s own driver). It will be like air travel, the masses use public airplanes while the wealthy fly private jets.
homeboken says:
June 3, 2016 at 1:46 pm
I can full see the benefit of car on demand (ie Uber/Lyft) when one analyses the total monthly cost of car, insurance, gas and the stress of a young inexperienced driver behind the wheel.
67- And yes, they will have their own drivers even though driver less technology exists. Who else is going to open the door for them and carry their stuff? Well, I guess eventually they will have a robot for that too.
Pumpkin, it will be more like having a horse. You will go upstate to the barn and take your car out for a ride on a closed track.
You won’t have a driver but a stableman (stable-ze to be politically correct) that takes care of your car, feeds it, washes and maintains it.
when it comes to cars, Cuba has the right idea
60 yr old fords and chevys
[58] pumps
$21MM? It will cost them that much to fight off Picard, though with the cases going against him, maybe not.
Fact is, Kochs have given away more than that to a single charity. I doubt the number bothers them. And they’ll pay their lawyers millions so that money is gone either way.
So ask yourself, if they aren’t going to need, miss, or even keep $21MM, why are they fighting?
Or is that too obtuse?
[71] twitiot
Cuba sounds like your kind of place. When are you leaving?
[60] pumpkin
” a crucial stage at which we made the worst mistake in human history. Forced to choose between limiting population or trying to increase food production, we chose the latter . . .”
Well, I’m willing to help remedy that mistake should we find ourselves on The Road. All I need are the home addresses for footrest and twitiot!
#60..too bad that reference made more sense in 1200 or 1500 rather than currently.
@kasie
Hillary Clinton calls Judge Curiel
“a man born in IN, which last time I checked was part of America.”
walking bye [69];
Pumpkin, it will be more like having a horse. You will go upstate to the barn and take your car out for a ride on a closed track.
Like this: https://youtu.be/FAvQSkK8Z8U
Thanks grim. We can’t do the plug-in hybrid because my garage is about 8 miles away. We park our daily drivers on the street in Boston.
Twice the shit to break, that doesn’t outweigh the benefits.
For short-drives, you absolutely need a plug in hybrid, which can run in EV only mode – which pushes the price up astronomically (I don’t believe Camry Hybrid is plug in capable anyway).
Burn dinosaurs.
do you like dags?
http://www.app.com/story/news/crime/2016/06/03/howell-dog-hoarding/85354996/
1978 F100
This is pretty amazing:
https://www.youtube.com/watch?v=C_r5UJrxcck