From the Record:
Region’s home price increase is weakest in U.S.
Home prices in the New York metropolitan area inched up in July, but the increase was the weakest in the nation, the S&P CoreLogic Case-Shiller Indices reported today.
Nationally, prices rose by about 5 percent in the 12 months ending in July, the Case-Shiller index said. The area’s home values have been rising at a slower rate than national averages for several years, partly because the region continues to deal with flat incomes and a backlog of distressed properties after the foreclosure crisis.
Home prices in the region are equal to the levels of November 2004, and about 14.8 below their peaks during the housing boom in mid-2006. Nationally, values are equal to the levels of June 2005, and about 7.6 percent below their peaks.
Svenja Gudell, Zillow’s chief economist, said that the recent rise in home values is linked to higher incomes nationwide. The Census Bureau recently reported that in 2015, median household incomes in the U.S. rose at a healthy 3.9 percent.But in New Jersey, the Census said, household incomes barely budged, moving up only 0.3 percent – the weakest performance in the nation. That may be one reason why home values have been essentially flat in this region.
Case-Shiller does not break out home values by county. But according to the New Jersey Realtors, single-family home prices dipped 1 percent in Bergen County, to a median $490,000, over the 12 months ending in July. In Passaic, prices dropped 2.4 percent to a median $294,750. Those prices reflect the mix of properties sold during the month, while Case-Shiller tracks the value of the same properties over time.
First
Gird your loins, NJ pension fund lost money again.
http://www.nj.com/politics/index.ssf/2016/09/njs_pension_fund_vexed_by_negative_returns_last_ye.html#incart_2box_nj-homepage-featured
Turd
Heck. Even my Mad Loot Investment Club made .6% for the same time period. I wonder how much Goldman made during that time period?
“is already off to a better start with a return of 2.5 percent in the first two months.”
Mad Loot is up 3.87% over the same time period.
Go Hedge Funds!
Just arrive in Mass after enduring a 350 mile long construction zone and I find this.
http://www.nj.com/somerset/index.ssf/2016/09/high_school_student_reportedly_suspended_for_anti-.html
Let that sink in real good. More of this is what leftists want. A lot more.
And another group steps up against Trump.
https://secure.avaaz.org/en/globalvote50/?rc=fb&pv=119
Over the next month, these are just going to keep rolling in.
http://www.newsweek.com/donald-trump-cuban-embargo-castro-violated-florida-504059
No worries, NJ taxpayers are on the hook to backstop pension losses.
After all, we made a promise.
@jbarro
Most of all,
Trump’s comment that he’d date Ivanka if she weren’t his daughter is insulting to T iffany.
Sitting in a Panera in the Fens and can’t do sh!t because my VPN doesn’t like public wifi.
Since announcing my isolationist policy, I see that the twitiot and gluteus are back with a vengeance. Too bad you can’t spray for pests on the internet. Either that or all the permethrin was used up on Pumps.
Do Housekeeping professionals have a PAC (or a pageant)?
test
pumpkin
grim….how did you manage getting rid of him?
Ugh..huge accident at Hoboken station
Yeah…The End Is Nigh (steamturd edition)
So much for driving into the city. Who wants to bet that the brakeman had a stroke?
Time to fully automate NJ Transit rail is long overdue.
Can’t do that. Would put too many government workers out of work.
seems like it was going awfully fast….I’m just going to say it….terrorists have hijacked planes…trucks…why not a train?
Train crash in Hoboken. Engineer must have gotten an important text.
http://www.cnn.com/2016/09/29/us/new-jersey-hoboken-train-crash/index.html
I’ll go with Occam’s razor. Train operator checking the internet to see if he is famous or trending.
Anyone hear from Fast Eddie? I’m pretty sure he takes the Pascack Valley line into Hoboken for work. Hope he’s okay.
“Passengers told WABC it was train number 1614 on the Pascack Valley Line, which left Spring Valley, N.Y. at 7:23 a.m. bound for Hoboken “
We could just give them an early retirement at 100% pension. Combined with the income and pension from their next state job, I don’t think they’ll be complaining.
Can’t do that. Would put too many government workers out of work.
Hummm – From 2011 – no “dead man’s switch” in the newer locomtives.
In addition, the locomotive does not contain the traditional “dead man’s switch” inside the cabin, but instead has other equipment in place to provide automatic breaking if an engineer is deemed to be unresponsive.
http://patch.com/new-jersey/cranford/nj-transit-unveils-dual-powered-locomotive
Lib, chifi – Have you looked at what Clinton wants to do with long term cap gains? Essentially, you would have to hold for 6 years and a day to get the lowest rate. 1 year holding? Try 39% tax rate.
grim has the entirely plausible theory that pumpy has a real job and the new ip address of this web site is not whitelisted(allowed) at the firewall at work. I have the much simpler theory that pumpy can’t find the comments link because it’s now located at the bottom of the article instead of the top.
grim….how did you manage getting rid of him?
Don’t forget raising the Social Security payroll tax cap, 12.4% payroll tax on earnings above $200,000.
I don’t pay attention to campaign promises. I pay attention to who funds the campaigns. That’s who benefits.
Crap, my federal plus state tax rate is already about 47%. Looks like I will soon be paying more than half my income as taxes.
Meaning that it’s difficult to use income as a source of funds for new investment, instead the government policy favors big business willing and able to borrow at low manipulated interest rates.
How else could Wells Fargo afford to pay their CEO 170 million to quit?
We truly are watching our standard of living decline.
seeing the news re: Hoboken. Hopefully all of our contributors are among the uninjured.
Except for Plumpy.
After-school care (clot Edition):
PORTLAND, Ore. – Local children will soon be recruited by the devil. Okay, maybe not … but, uh, maybe so. The Portland chapter of The Satanic Temple will now be offering an after-school program to a Portland elementary school, the Oregonian reports. The club begins Oct. 19 at Sacramento Elementary School, where the happy people at the Satanic Temple will teach the fresh-faced kiddies all about “science and rational thinking.” No clue how such a club can exist, as this temple comprises born-again believers eager to establish disciples in the Word of God. Huh? Apparently the division of church and state does not apply when the devil attends school board meetings and spends big at the bake sale.
CMD try pia
http://watchdog.org/5489/nj-madden/
One-Day Retiree
The first thing Madden did after he retired was return to the government payroll in a law enforcement job.
On July 1, 2002 — one day after he left the State Police — Madden started a new job as chief of detectives for the Gloucester County prosecutor. His new $105,000 salary, along with a pension of roughly $75,000, boosted Madden’s annual income to $180,000.
“There are a lot of positives to taking retirees that have strong resumes and productive work experience and placing them in other public jobs,” said Madden.
One state rule is supposed to prevent workers from temporarily retiring from public employment to take advantage of pension funds. A retirement only is considered to be legitimate, or “bona fide,” if “there is a good faith action to retire” and “there has been a cessation of employment of at least 30 days,” according to SPRS and PFRS handbooks.
If a retirement is not “bona fide,” the state can force the employee to return any benefits paid.
The rule often is ignored and seldom enforced. Previous New Jersey Watchdog investigations uncovered numerous examples of one-day retirements by officials who currently work for the state attorney general, county sheriffs and prosecuting attorneys.
^^^older article, nothing new
I take the pascrap valley line every day for years. Never thought about a train crash. I am on an earlier train but have the one that crashed many times over the years. It runs express from. New bridge landing river edge to secaucs than Hoboken and it’s always packed. Last train in if you want to get to work by 8 45 or so. My prayers to the families of deceased and injured. Pictures show major damage to the terminal. I have been saying it’s falling down. Now it looks like they will have to tear it down! Hope fast Eddie is ok.
Eddie is alive. It was the next train behind me. Hoboken has every news truck in the tri-state area here at the moment and you can’t get within blocks of the station.
Should make getting to the Garden tonight a hoot for me and my son.
It’ll be just like California, just without the scenery or weather.
Crap, my federal plus state tax rate is already about 47%. Looks like I will soon be paying more than half my income as taxes.
That’s how you can tell globalism is winning.
We truly are watching our standard of living decline.
Yeah man but we are becoming more and more like Britain:
https://www.youtube.com/watch?v=vW-JYsF3xHI&feature=share
Groovy Baby!
Thanks, that was great. Of course I had to instantly search to see if Ray Davies is still alive. He is, so is his brother.
Yeah man but we are becoming more and more like Britain:
https://www.youtube.com/watch?v=vW-JYsF3xHI&feature=share
Groovy Baby!
Fresh Kinks news:
http://www.fifetoday.co.uk/whats-on/music/ray-of-sunshine-1-4223738
If you are finally embracing superior music, The Yardbirds are playing BB Kings on Oct 11th if anyone wants a GTG.
https://www.youtube.com/watch?v=MLv7viCMGo8
I love the Kinks, but they redefined dysfunctional!
http://www.dailymail.co.uk/tvshowbiz/article-1324979/The-Kinks-reunion-Not-Ray-Davies-stamped-bother-Daves-birthday-cake.html
I have it on good authority here that voter fraud “Never Happens”. O_o
He fought in World War II. He died in 2014. And he just registered to vote in Va.
Its not enough for a Republican candidate to win, they have to beat the Margin of Fraud.
I just heard a short report on Bloomberg radio that made me laugh:
First time purchasers of new cars in China….wait for it….They HATE, HATE, HATE that “new car” smell.
Re:voter fraud. Aren’t there some districts in Philadelphia that had 0.000000% Romney voters during the last election? Not statistically 0%, *literally* zero.
I was just extrapolating my thinking on new car smell. Is it possible that all the toxic fumes in new home carpets open up a neurological window where the buyers are susceptible to pitches by college students selling Kirby vacuum cleaners?
CBS4 Investigation Finds Dead Voters Casting Ballots In Colorado
Dozens Found On Voting Rolls Long After Deaths
http://denver.cbslocal.com/2016/09/22/cbs4-investigation-finds-dead-voters-casting-ballots-in-colorado/
My mom had a Kirby. It is an amazing vacuum cleaner. Unfortunately, you must be a Romanian weight lifter to lift it up. It’s all metal or rubber. No plastic.
It’s like a Boeing 747. It can stay in service forever. I don’t own one, but I was had a Summer roommate who had a sister who was selling them. She came over to our apartment to practice her spiel. I learned two key things: 1.Quality was very high 2. There is(was) a number that they would go down to for a sale, which was quite low compared to the asking price. I wish there was a car that was like a Kirby.
My mom had a Kirby. It is an amazing vacuum cleaner. Unfortunately, you must be a Romanian weight lifter to lift it up. It’s all metal or rubber. No plastic.
Bad news for me. Possibly good for some of you.
http://patch.com/new-jersey/bridgewater/s/fwex7/deal-reached-to-increase-nj-gas-tax-by-23-cents#google_vignette
Never mind. I answered my question. The state will decrease aid to the suburbs. And local property taxes will increase.
Raymond, appreciate the tip but I was on my firm-issued laptop.
When we changed over our outside IT firm, the new firm installed VPN on the laptop and a new remote access portal (two, actually, but I hate the desktop mirroring). Previously, I could not use public wifi–the portal would not let me connect. The VPN was supposed to let me connect from the road, using public wifi but I’ve noticed that sometimes it won’t connect. This has to do with the wifi apparently, as it cannot support certain functions. I don’t code so I don’t know what exactly.
It isn’t every public wifi, just some.
For my own laptop, I will look at PIA.
I drive across a fairly large suspension bridge into Philadelphia about twice per week. The toll is $5 round trip. The bridges and tunnels around Manhattan are $15. Now we will pay between $3 and $4 more to fill the car. NJ just plain stinks. Can’t wait to get the fcuk out of this overtaxed and overregulated hell hole.
I’ve been there; you want to leave the bar, but your buddy won’t go!
https://www.youtube.com/watch?v=g87ra6gQTpI
First cat 6 ever?
In the early days of Trumps candidacy, I had had some questions. Most of them formed around money, why was he doing this what it was going to cost him?
Macys bailed fairly early. While Macys was not big money in the Trump Universe, I think it was a canary in the coal mine. The endorsements bailed.
We now see stories like this coming out. https://www.washingtonpost.com/politics/trump-foundation-lacks-the-certification-required-for-charities-that-solicit-money/2016/09/29/7dac6a68-8658-11e6-ac72-a29979381495_story.html?postshare=5821475195359373
The IRS and others are going to be FEASTING on Trump come Nov 9th if he does not win and in some cases, even if he does win!
Now that’s Karma!
Just for Grim!
http://www.gamasutra.com/view/news/282424/Commodore_64_kept_running_for_25_years__in_a_Polish_auto_shop.php
How can we decrease the sales tax and eliminate the estate tax when we have unfunded pension obligations in addition to all the other financial issues? How will the shortfall be addressed? Where are those revenues going to come from?
The feds (of course).
Can’t wait for an answer. Off to a rugby match. Should have nothing to do with that foreign game! But I can’t help it!!
How can we decrease the sales tax and eliminate the estate tax when we have unfunded pension obligations in addition to all the other financial issues? How will the shortfall be addressed? Where are those revenues going to come from?
Retirees are going to take a minimum 50% haircut at some point. The unions will try their best to “grandfather” in the existing beneficiaries and screw over their youngest members.