Worst Real Estate Markets

Posted on September 2, 2016 by grim

Way to go NJ! Taking 3 out of the bottom 5 spots! Special Kudos to Newark and Paterson – worse than Detroit.

From WalletHub:

2016’s Best Real-Estate Markets

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48 Responses to Worst Real Estate Markets

  1. Comrade Nom Deplume, the Deplumiest. says:
    September 2, 2016 at 8:06 am

    Frist.

  2. 1987 Condo says:
    September 2, 2016 at 8:09 am

    Jobs? 189k?

  3. 1987 Condo says:
    September 2, 2016 at 8:31 am

    Actual- 151,000
    UE 4.9%
    Earnings up .1

  4. Comrade Nom Deplume, the Deplumiest. says:
    September 2, 2016 at 8:43 am

    Doesn’t help the navel gazers with the Sept Fed predictions

  5. grim says:
    September 2, 2016 at 8:46 am

    Participation rate flat as well.

  6. D-FENS says:
    September 2, 2016 at 9:09 am

    Libturd…what’s your prediction for Hermine’s impact on NJ? I have a shore weekend planned for next weekend…(Thurs, Fri, Sat, Sun) wondering if you think it will be gone by then.

  8. walking bye says:
    September 2, 2016 at 9:37 am

    Back from North Myrtle Beach aka “New South Jersey”. North Jersey real estate starting to look inexpensive compared to Carolinas. Area down there really heating up with simple 3 bed room homes asking for $400k intra coastal. Oceanfront condos asking $600k-$1.2m. These are nicer community prices, you can still get an $80k trailer special.

  10. STEAMturd questioning the gender of Hillary's Cankle fluid. says:
    September 2, 2016 at 10:15 am

    Hermine? Next weekend? Sheesh. This is the most overhyped nothing. Expect big waves and riptides at the beach. It should actually be a beautifully breezy weekend. The type of weather where you’ll want to sit out on the deck all night and watch the huge waves and extensive beach erosion. The greenheads and skeeters won’t be an issue due to the easterly wind. Enjoy it. Could be a drop of rain or two, but most likely just wind. The reason this storm won’t be problematic is that it stays over land for too long and when it does head out to see over the Delmarva, the trajectory is too easterly and not enough northerly. Though, it will stall off the NJ coast. But just too far off the coast.

  11. STEAMturd questioning the gender of Hillary's Cankle fluid. says:
    September 2, 2016 at 10:19 am

    Chi…Read up a bit more on AL, btw. Biggest concern is overcapacity in the industry. The elephant in the room is really fuel costs. If fuel costs go up, which I think they do over the longer term (to $60 or so a barrel). Airlines will not know which way to go. Fuel efficient planes (Dreamliner) vs. Mumbo Jumbo planes (A380). Leasing becomes a more viable option than buying.

  12. walking bye says:
    September 2, 2016 at 11:17 am

    Juice Box, yes a lot of Condo development in there. Also some questionable neighborhoods in murder beach. Make sure the development is gated.

  13. chicagofinance says:
    September 2, 2016 at 11:31 am

    You are making the case that AL is serving the need for airlines to be flexible, but the risk is borne by AL……how do they hedge?

    STEAMturd questioning the gender of Hillary’s Cankle fluid. says:
    September 2, 2016 at 10:19 am
    Chi…Read up a bit more on AL, btw. Biggest concern is overcapacity in the industry. The elephant in the room is really fuel costs. If fuel costs go up, which I think they do over the longer term (to $60 or so a barrel). Airlines will not know which way to go. Fuel efficient planes (Dreamliner) vs. Mumbo Jumbo planes (A380). Leasing becomes a more viable option than buying.

  14. chicagofinance says:
    September 2, 2016 at 11:34 am

    i changed every word in a post and it still went into the vortex

  15. chicagofinance says:
    September 2, 2016 at 11:37 am

    Stu: Here is the idea that just occurred to me……..I guess in the same way the car leasing to the public effectively upsells cars in aggregate, maybe AL could be providing the same type of access/opportunity……so the innovation is essentially that the airlines are using better/nicer/newer equipment than they would otherwise, because of the asst-light approach? does this resonate….

  16. chicagofinance says:
    September 2, 2016 at 11:39 am

    but it would mean that boeing/embraer would be benefiting more……AL at bottom is just the middleman…..how do they maintain margins over time?

  17. D-FENS says:
    September 2, 2016 at 11:42 am

    I plan on riding the bike down the parkway…all the way to exit 4 on Thursday…I’m kind of hoping I won’t get wet.

    STEAMturd questioning the gender of Hillary’s Cankle fluid. says:
    September 2, 2016 at 10:15 am
    Hermine? Next weekend? Sheesh. This is the most overhyped nothing. Expect big waves and riptides at the beach. It should actually be a beautifully breezy weekend. The type of weather where you’ll want to sit out on the deck all night and watch the huge waves and extensive beach erosion. The greenheads and skeeters won’t be an issue due to the easterly wind. Enjoy it. Could be a drop of rain or two, but most likely just wind. The reason this storm won’t be problematic is that it stays over land for too long and when it does head out to see over the Delmarva, the trajectory is too easterly and not enough northerly. Though, it will stall off the NJ coast. But just too far off the coast.

  18. Alt-right (the good one) says:
    September 2, 2016 at 11:43 am

    full employment

    pct unemployment can’t get no lower

    economy’s on fire!

    1987 Condo says:
    September 2, 2016 at 8:31 am
    Actual- 151,000
    UE 4.9%
    Earnings up .1

  19. Comrade Nom Deplume, Right Wing Extremist (per anon) says:
    September 2, 2016 at 11:48 am

    [13] Chifi

    Wouldn’t one hedge be the ability to sell older planes downstream?

    Also, are these sale/leaseback arrangements where airlines buy the planes, sell to AL and then lease them back? Pretty common I thought in equip. industry.

    Also, who bears maintenance resp. and risk?

  20. Comrade Nom Deplume, Right Wing Extremist (per anon) says:
    September 2, 2016 at 11:49 am

    [18] twitiot

    “economy’s on fire!”

    That means there’s a line at your register. So stop tweeting and get back to work.

  21. STEAMturd questioning the gender of Hillary's Cankle fluid. says:
    September 2, 2016 at 11:54 am

    AL has two advantages over the airlines when it comes to purchasing planes. Their debt terms are significantly better, especially when compared with internationals (Asia mainly). They have the ability to shift their inventory to parts of the world where there is greater demand. Individual airlines can’t do that since they all tend to focus on a particular area of the world. As for a hedge…there are interest rate adjustment considerations written into the lessee contracts as well as all renters must fully insure the planes. Additionally, AL get’s better rates and price adjustments from manufacturers than the airlines do due to volume purchase. They also keep their fleet young and sell off planes by year 7. It seems like a viable business model. They essentially leverage their size and flexibility and profit as a middleman between the airlines and the manufacturers. Overcapacity though, is the tough part. Need to do some work on gauging and predicting overcapacity in the industry. Though fuel costs do act as a bit of a natural hedge against overcapacity.

  22. yome says:
    September 2, 2016 at 12:03 pm

    Trump’s charitable foundation made an illegal campaign contribution to Florida Attorney General Pam Bondi. Then when they found out they had broken the law, they kinda sorta corrected the error but didn’t actually follow their legal obligation to get the money back.

    It’s all at least a little suspicious. The story includes the phrase: “Trump staffers said that a series of unusual — and unrelated — errors by people working for Trump had led to both the improper donation and to the omission of that donation from the foundation’s tax filings.”

    What’s more, the contribution to Bondi came right when she was one of several attorneys general who were looking into possible Trump University fraud investigations. Shortly after receiving the illegal campaign contribution she dropped the investigation.

    http://www.vox.com/2016/9/2/12759020/trump-foundation-illegal-campaign-funding

  23. The Original NJ ExPat says:
    September 2, 2016 at 12:03 pm

    There are non-printing characters that are barred too. Here’s a list:

    i changed every word in a post and it still went into the vortex

  24. yome says:
    September 2, 2016 at 12:09 pm

    Donald Trump paid the IRS a $2,500 penalty this year, an official at Trump’s company said, after it was revealed that Trump’s charitable foundation had violated tax laws by giving a political contribution to a campaign group connected to Florida’s attorney general. […]

    In [its 2013] tax filings, The Post reported, the Trump Foundation did not notify the IRS of this political donation. Instead, Trump’s foundation listed a donation – also for $25,000 – to a Kansas charity with a name similar to that of Bondi’s political group. In fact, Trump’s foundation had not given the Kansas group any money.

    The prohibited gift was, in effect, replaced with an innocent-sounding but nonexistent donation.

    http://www.msnbc.com/rachel-maddow-show/trump-pays-irs-penalty-following-controversial-donation

  25. grim says:
    September 2, 2016 at 12:09 pm

    Email them to me, I’m going to try to remove them.

    The new spam filter is working better than blacklisting.

  26. The Original NJ ExPat says:
    September 2, 2016 at 12:40 pm

    Check out the next couple paragraphs in Clinton’s speech immediately after where the video ends. It could have been written for Trump as well. I tried to post it, but I was Vortex meat too.

    http://millercenter.org/pres…/clinton/speeches/speech-3440

    Listen to this Racist

    https://www.facebook.com/numbersusa/videos/vb.129255907131113/1196778030378890/?type=2&theater

  28. STEAMturd questioning the gender of Hillary's Cankle fluid. says:
    September 2, 2016 at 12:50 pm

    yome says: “Trump’s charitable foundation made an illegal campaign contribution to Florida Attorney General Pam Bondi.”

    He’s a quick learner that Trump.

  29. nwnj3 says:
    September 2, 2016 at 12:51 pm

    The Hillary folks want to shed the spotlight on bogus charitable contributions? Really?

  30. STEAMturd questioning the gender of Hillary's Cankle fluid. says:
    September 2, 2016 at 1:21 pm

    Any0ne know any discount codes for the Franklin Institute? $122 for 2 adults/2kids with PIXAR exhibit.

  31. The Original NJ ExPat says:
    September 2, 2016 at 2:08 pm

    Lock him up! Lock him up! Lock him up!

    “Trump’s charitable foundation made an illegal campaign contribution to Florida Attorney General Pam Bondi.”

  32. Outofstater says:
    September 2, 2016 at 2:23 pm

    The FBI did a document dump today, the Friday before Labor Day, with a tropical storm heading up the east coast. WaPo put it in the front page, right next to an article about a lynching in 1941. Nice attempt to draw the eye away from the story. Anyway, the docs indicate that Hillary could not give an explanation of what constitutes a classified document. She also saw no problem in sending an email regarding an upcoming drone strike in Pakistan over her unsecured server. Sorry, guys, this woman is not fit to be President. If anyone in the military had done that, she would have been court-martialed and sent to Leavenworth.

  33. D-FENS says:
    September 2, 2016 at 2:39 pm

    Oh Jesus….really?

    Sarah Westwood
    ‏@sarahcwestwood
    Clinton told the FBI she thought the (C) classified marking on emails was a way to put paragraphs in alphabetical order.

  34. D-FENS says:
    September 2, 2016 at 2:41 pm

    Lachlan Markay
    ‏@lachlan
    Good lord. Clinton says it never occurred to her that discussions of plans for US drone strikes might be classified

  35. Walking bye says:
    September 2, 2016 at 2:41 pm

    Happy Labor Day weekend guys – Sirius xm free for this weekend for the long ride down GSP

  36. D-FENS says:
    September 2, 2016 at 2:42 pm

    @justkarl
    Lotta bad news for Clinton, coincidentally dumped on the Friday of a holiday weekend.

  37. chicagofinance says:
    September 2, 2016 at 3:33 pm

    AL has to eat the depreciation……accounting tricks aside, economic loss is economic loss….sooner or later you it will take a toll.

    Also, SOMEONE has to capitalize the planes on their balance sheet…..it is either the lessee or lessor…..I assume that the whole point of the asset-light approach is to keep the airlines balance sheet unencumbered, so AL must write their contracts in a manner to line-by-line conform with GAAP.

    Comrade Nom Deplume, Right Wing Extremist (per anon) says:
    September 2, 2016 at 11:48 am
    [13] Chifi

    Wouldn’t one hedge be the ability to sell older planes downstream?

    Also, are these sale/leaseback arrangements where airlines buy the planes, sell to AL and then lease them back? Pretty common I thought in equip. industry.

    Also, who bears maintenance resp. and risk?

  38. chicagofinance says:
    September 2, 2016 at 3:34 pm

    I sucks that pumpskin ran off ragnar…….

  39. chicagofinance says:
    September 2, 2016 at 3:34 pm

    it

  40. chicagofinance says:
    September 2, 2016 at 3:36 pm

    OK – time to wire September rent…….. asset-light approach ;-)

  41. STEAMturd questioning the gender of Hillary's Cankle fluid. says:
    September 2, 2016 at 3:40 pm

    “asset-light approach”

    The rental approach is great if A) You don’t live there too long. B) Require mobility.

    Hope you need the mobility since you’ve been there a heck of a while. Next you’ll be growing a man bun

    The mortgage interest write off is a thing of beauty.

  42. STEAMturd questioning the gender of Hillary's Cankle fluid. says:
    September 2, 2016 at 3:40 pm

    And Nom…yes, they do the lease/sell back thing.

  43. Comrade Nom Deplume, no longer white. says:
    September 2, 2016 at 4:15 pm

    I am seeing those waits for consular appointments getting longer by the day.

    http://www.cnsnews.com/news/article/rachel-hoover/treasury-dept-proposes-new-estate-tax-regulations

  44. No One says:
    September 2, 2016 at 5:05 pm

    Not totally random off.
    I haven’t followed many asset lessors. They don’t usually generate very impressive CFROI and I can’t shake my concern that they are picking up dimes in front of a steamroller. To grow they usually have to reinvest most or all of their OCF. But this is more my bias than detailed analysis. People who can track the true market pricing of used airplanes would have an edge analyzing.

  45. Anon E. Moose, Second Coming of JJ says:
    September 2, 2016 at 5:11 pm

    Homeless mother who sent six-year-old son to better school in the wrong town jailed for five years

    It seems Norwalk (CT) Democrats have found a border that they’d like to see enforced. For the record, Norwalk is represented by:

    U.S. Sen. Richard Blumenthal (D);
    U.S. Sen. Chris Murphy (D);
    U.S. Congressman Jim Himes (D-CT4);
    State Assemblyman Chris Perrone (D-137);
    State Assemblyman Bruce V. Morris (D-140);
    State Sen. Bob Duff (D-25th District)

  46. Anon E. Moose, Second Coming of JJ says:
    September 2, 2016 at 5:15 pm

    OutOfStater;

    If anyone in the military had done that, she would have been court-martialed and sent to Leavenworth.

    That was my big point that hasn’t sunk in to the Hillary true believers yet: She literally got away with breaking the law before she was even elected — What is supposed to persuade her to follw any particular law as President?

  47. The Original NJ ExPat says:
    September 2, 2016 at 6:43 pm

    She’ll pre-pardon herself for everything before she leaves too. She has enough money guns, and lawyers to fight off anyone who says she can’t

  48. Juice Box says:
    September 2, 2016 at 9:03 pm

    Hillary claimed she had Brain Damage during her FBI interview, and some of you want her to be president?

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