From the Record:
Single-family homes stay in the game, but North Jersey land scarce to build them
Buyers looking for new, single-family homes in New Jersey once had plenty to choose from. As the state’s suburbs boomed in the second half of the 20th century, developers blanketed farm fields with new houses aimed at middle-income buyers.
But those days are no more. Now, close to two-thirds of the home construction in the state is multifamily, led by rentals along the Hudson River. Single-family construction is piecemeal and pricey — a new home here or there, on pockets of land that open up, often when an older house is knocked down.
A new development on Roosevelt Boulevard in Paramus, not far from Route 17, is an example.
Six colonials with a shingle-style feel are being built on 2 1/2 acres that belonged to a longtime Paramus family, the Schreibers. Landscape architect William Comery approached the family about the property before the death of matriarch Alice Schreiber, and he is now working with two partners on the homes, which have asking prices of more than $1 million each.
…
Through August of this year, builders have started about 6,500 single-family homes in the state, about 36 percent of the total number of housing units started.The main reason for this shift away from single-family: There’s just not enough space, especially in North Jersey. The state is already largely developed, and regulations bar further development in environmentally sensitive areas, such as the Highlands. As a result, land in the state has just become too scarce and too expensive to support a mass of single-family homes — particularly homes affordable to middle-income families.
“There’s very, very little developable land left for any significant size of single-family subdivision,” said George Vallone, president of the Hoboken Brownstone Co. in Jersey City and a past president of the New Jersey Builders Association. “This is the most built-out state in the country.”
There are a couple of larger-scale single-family developments on the horizon. Toll Brothers plans to build 78 luxury single-family homes on the site of the old Apple Ridge country club in Mahwah and Upper Saddle River. Toll also is planning to build 60 single-family homes, along with 160 town houses, on the site of the former High Mountain golf course in Franklin Lakes. Prices haven’t been set yet, but these homes will likely go for more than $1 million, said Craig Cherry, Toll’s division vice president for the New Jersey suburbs. He said Bergen County’s strong schools and location near New York City’s strong job market help support that price.
“We have found the market is very strong in this price point,” Cherry said.
…
Because the land is so scarce, it is expensive, which in turn drives up the price of the homes. New single-family homes in Bergen County — often on a lot where the developer has torn down an older home — tend to be pricey, and builders say the market of potential buyers thins out as the price tag heads toward (or above) $1 million.“The problem is, if you’re paying $300,000 or $400,000 for the property and knocking it down, you can’t put up something and charge a couple of hundred thousand,” said Lou Chiellini, a Park Ridge builder who is active in Park Ridge and nearby towns. “I’m looking at a few new lots for $300,000 or $350,000. That means I can keep the house in the $850,000-$900,000 range.” Chiellini likes to keep the price under $1 million, because at $1 million, a state “mansion tax” of 1 percent kicks in, adding at least $10,000 to the buyer’s cost.
Chiellini said that as the housing market has improved, he’s notched up his production from two or three houses a year to four or five. The buyers are typically two-career couples with a child or two, moving from Manhattan, Brooklyn or Hoboken to the suburbs for the highly rated schools and more space for their children.
@nytimes
Is the 162-year-old party that has produced 18 presidents,
including Lincoln and Reagan, about to fall apart?
The only hope for depolarization of American politics is a viable multi-party system.
From Bloomberg:
Big Winner From London’s Brexit Exodus Isn’t Even in Europe
The ultimate winner if Brexit forces banks to flee London may lie 3,500 miles away, far beyond the borders of Europe.
New York, even more than Frankfurt or Paris, is emerging as a top candidate to lure banking talent if London’s finance industry is damaged by Britain’s divorce from the European Union, according to politicians and industry executives.
That’s because the largest U.S. city, rather than European finance hubs, is the place that rivals the depth of markets, breadth of expertise or regulatory appeal boasted by London. Continental Europe will win some bank operations to satisfy regional rules ensure time-zone-friendly access to its market, but more may eventually shift across the Atlantic to the only other one-stop shop for business.
“There is no way in the EU there is a center with the infrastructure or regulatory infrastructure to take the role London has,” particularly in capital markets, John Nelson, chairman of Lloyd’s of London, said in an interview. “There is only one city in the world that can, and that is New York.”
those expats married w kids will be chasing any available 4b colonial w direct NJT into ny
grim says:
October 17, 2016 at 7:42 am
From Bloomberg:
Big Winner From London’s Brexit Exodus Isn’t Even in Europe
The ultimate winner if Brexit forces banks to flee London may lie 3,500 miles away, far beyond the borders of Europe.
New York, even more than Frankfurt or Paris, is emerging as a top candidate to lure banking talent if London’s finance industry is damaged by Britain’s divorce from the European Union, according to politicians and industry executives.
i survived the permanent destruction of the GOP and
all i got was another FOX
@sahilKapur
Trump son-in-law Jared Kushner holds talks over a post-election Trump TV network, @FT reports.
I posted the other day, even if Trump loses, this will be the most lucrative marketing investment he has ever made.
Another win for the boomers, it’s unbelieveable how massively they’ve screwed over subsequent generations with their gimme gimme attitude and their pyramid schemes.
http://www.nj.com/politics/index.ssf/2016/10/nj_retirees_to_see_tax_break_in_23-cent_gas_tax_hi.html#incart_2box_nj-homepage-featured
Speaking of screwed-over generations . . . .
“Nowadays, thanks to our increased general affluence and our modern welfare state, there is a “third way”—the work-less life, neither working nor looking for it—and for two generations, this has been the fastest growing contingent among prime working age American men.
It is true that all rich democracies have witnessed some “flight from work” by prime age males over the past half century. Alas—the record for the United States is the very worst of the group. Today even sclerotic France and dysfunctional Greece have substantially smaller shares of their prime age men checked out of the labor force. America, unfortunately, has been the “winner” in this particular race to the bottom. . . .”
/snip
http://www.foxnews.com/opinion/2016/10/17/americas-quiet-catastrophe-collapse-work-for-men.html
Remember, twitiot, nature abhors a vacuum.
@Nouriel
Trump-Hitler starts using Antisemitic Neo-Nazi language warning of a conspiracy of global bankers out to destroy USA & enrich themsleves
Nom – This has huge implications for income inequality in America. I’ll need to speak quietly here, as this is touchy territory.
The trend I see, as anecdotal as it is, is that you have a household with two very highly educated individuals, with very high incomes. Contrast this with a similar household, less educated, struggling to get by on two mediocre incomes.
The problem is, people tend to marry those in their social circles, educational circles, work circles. It’s more likely that you are going to meet and marry someone with a similar earning potential as you.
The difference is, you have two households, one with a household income that’s absolutely stratospheric, and the other, barely above poverty levels.
This phenomenon did not exist 30-40 years ago, and the fact that it didn’t exist was a moderation on the household income gap.
I don’t know how you solve this, you either don’t, or you penalize two income households to disincent one party from working.
Don’t get me wrong, it’s great that the gender wage gap is falling, and you are seeing equality/parity of employed individuals, but we seem to have created a new problem as a result.
Or did I already say too much?
Touchy!, well yippy yah yehh!
A big issue with what you say is women. High earning men used to go downs to a lower socioeconomic level (secretaries, clerks,etc). Not with high earning white women (minority ones are much more open to it ), they don’t want to go down the socio-economic ladder.
I can tell you about a NYC med school. 200+ graduates every year. 55-60% women. The men left 30-40% are married already (usually conservative jews), another 30% openly gay, the rest are what could be termed ugly nerds that have busted years in school where no one looked at them and are not going to marry anyone – they are going to play around with that hard earned MD and have some decadent fun.
Those female MDs don’t look at anything lower than them socio-economically. They get angry, frustrated and nasty. Next thing they are adopting in their 40’s as single parents.
Not Grimsky,
Can you say that again in English? And why is it that people on this blog can’t post under a handle we recognize or know?
Grim,
In the past, I had theorized on how the Democratic agenda implicitly endorses a one earner household. It does this in a number of subtle ways that discourage a dual income household, with the benefit of raising revenues from those doing better and having more people employed across a greater number of households by discouraging that second, lesser, income. The irony of this sort of social engineering is that the person who tended to stay out of the labor force because of the disincentive was typically a woman.
Now we have additional social engineering that is intended to raise the wages of women and to force a realignment in the labor force. The subtle message to employers however is that you can comply with all of these mandates and still hold down your labor costs by employing women at the expense of men. Whether that is by design or by accident, the incentive is nonetheless real. And given that the cohort most adversely affected directly is a cohort that tends to vote Republican, and are more likely to be in the basket of deplorables, that augers for what the Democrats would consider a happy coincidence. If the deplorables feel that the Democrats have kicked him to the curb, it’s because they did.
But, as in nature, there are unintended consequences. The erosion of earnings power by men inevitably erodes the standard of living of women in so far as women tend to still rely on men more than the opposite. Men without jobs do not pay alimony or child support. And locking them up doesn’t cure that. Then without jobs have to rely on women’s incomes in the home, which are lower in general, and lower still for the cohorts you described.
Add to this the fact that societal pressure reinforcing the double standard that calls for men to be breadwinners, and not to live off of the women in their lives, is still very strong. Even the women who feel that they are every bit as capable or more than men still feel that you aren’t a man if you aren’t working and supporting her. And I think that we see how this pressure manifests itself. We see it in the news every day it seems. And if anyone is wondering whether this particular problem is on in the minds of our leadership, look at where resources are dedicated. If I didn’t know better, I would say that our leadership is perfectly happy with the idea of the deplorable generation doing it self in. In fact, we do know–the rantings of footrest and the twitiot make clear that they would be overjoyed if there was a mass extinction of older, white men.
https://www.uvm.edu/~asc/?Page=whiteid-app.php&SM=eventsmenu.html
NY Times mapped out by zip code the men out of work demographic two years ago. Go ahead enter in a town, just down the road from Grim and Pumpkin it looks to be about half the working age males are out of work.
Some regular suburban towns in NJ it is less than the 16% average but not all.
http://www.nytimes.com/interactive/2014/12/12/upshot/where-men-arent-working-map.html#/5/37.3/-96.3
Twitiot’s goal, and I think the main reason he is so devoted to the dems, is because he believes sometime in the near future that they will pass something called a Universal Basic Income in which eveyone is cut a monthly check from the gov.
That will allow him to remain firmly ensconsed in mommy’s basement, twittering to his heart’s content.
chicagofinance,
The end is nigh! Omg.
alt-right has the same fukcing answer for every single issue
mouth breathers won’t ever get off the playbook
Comrade Nom Deplorable, just waiting on the Zombie Apocalypse. says:
October 17, 2016 at 9:38 am
blah blah blah the cohort blah blah blah that tends to ……..vote Republican, ……in the basket blah blah blah blah blah blah ……..of deplorables… …….blah blah blah blah blah blah blah blah blah …………Democrats……….would blah blah blah blah blah blah blah blah blah …………the deplorables ……,…..blah blah blah blah blah blah ………..Democrats……….blah blah blah blah blah blah
At least we have a playbook. Better right than a twittering cunt
In fairness, the twitiot’s last post is his longest by far. And didn’t use a tweet.
Sad that this passes for original thought.
The senior tax break in the gas tax legislation is Christie just catering to his base. The Dems bait the blacks and the Republicans bait the seniors. And the cheerleaders for both parties see nothing wrong with it. And you wonder why our government is so inefficient?
puzzy anon,
Your grammar skills are… deplorable.
Obviously, pussy is something that Anon is not too familiar with. And rightfully so. Any female should run from this ignoramus.
Obviously, puss is something that Anon is not too familiar with. And rightfully so. Any female should run from this ignoramus.
Who made Fast Eddie the Spell Checker Herr Fuhrerr?
We can type fast and get the idea out or we can write a triple checked dissertation, but not both.
chill Fast Eddie, stop the coffee and become slow Eddie.
Spell check? Learn how to complete a whole sentence, first.
I’m staying out of the Spell–Eddie dust up.
In fact, salt mines beckon as this is the last day of mini tax season
The spread among regular (full-time) students will be very large versus the spread among adults with full-time jobs that are self-paying (or company-paid, in which case they need to get good grades for reimbursement). There will be more full-time students at the university, and they will be taking many more courses each semester, so the upper percentiles and lower percentiles of those groups will be vastly different. Of course, project reports and such will be better from the adult group (mainly because they do such things as part of their regular job).
As someone who teaches for a living to someone who doesn’t…stop. You’ve got all these ideas in your head and they are far displaced from reality. I don’t care how many classes these kids at age 19 to 21 are in, they have a full order of magnitude more free time than anyone in their 30s.
And I ain’t talking about reports. I’m talking about demonstrating their understanding. My older students who paid out of pocket always demonstrated a superb understanding. They didn’t care about the grades as much as the knowledge. The younger kids were primarily concerned with grades.
Bottom line, people who are paying for college out of pocket take school way more seriously than those that don’t. Making college free for everyone would be the biggest step to degrading higher education in the history of this country.
Juice some pretty high numbers in my opinion in towns in Bergen county I would not have thought of.
I was a bit older (32) when I did my second Masters degree – MBA.
It seems at that time, the trend was to graduate from business school and immediately enroll in the MBA program.
The lack of life and work experience really showed. There are plenty of degree types that should be limited to specifically exclude individuals based on age or work experience.
In one of the capstone classes, it was all team projects. We would all collectively groan when a kid was assigned to our team, pretty much meant we would all be doing more work as a result.
I finished my MBA at Stern as a part time student, aged 32 as well. Stern didn’t accept any students without work experience, and virtually all of the part-timers were working, other than the ones who lost their jobs 2000-2002.
Back then, part timers and full timers were in the same classes for second-year classes. The full timers were generally younger, had less experience in business, took more classes, and were generally more interested at that point in job-searching than in learning. So I found that the full-timers were the people I often had to carry in group projects, but they weren’t usually totally useless.
No one,
When were you at Stern? I was down the street.
Just heard from a partner that we received a favorable ruling from IRS on the matter that the firm basically hired me to resolve. We all thought it would take years and multiple meetings with IRS at its highest levels to get this done. Instead it took months and IRS adopted my position with little pushback.
Reason for sharing is this: As much as I am enjoying the accolades, it occurred to me that this was one of the largest, and the final issue that I was brought on to resolve. So it makes me wonder if I didn’t just put myself out of work by winning the big one.
Such is the state of work these days.
President Trump would be exactly that. Two parties in congress and a third party in the Executive branch. A coalition government would need to be formed between the president and any non-pu$$ies that could be found in congress.
The only hope for depolarization of American politics is a viable multi-party system.
Comrade Nom Deplorable, just waiting on the Zombie Apocalypse. says:
October 17, 2016 at 10:32 am
Sad that this passes for original thought.
Comrade Nom Deplorable, just waiting on the Zombie Apocalypse. says:
October 17, 2016 at 9:38 am
blah blah blah the cohort blah blah blah that tends to ……..vote Republican, ……in the basket blah blah blah blah blah blah ……..of deplorables… …….blah blah blah blah blah blah blah blah blah …………Democrats……….would blah blah blah blah blah blah blah blah blah …………the deplorables ……,…..blah blah blah blah blah blah ………..Democrats……….blah blah blah blah blah blah
Hey cunt, you think that copying and pasting from Twitter passes for original thought.
I think that the right copy & paste at the right time is akin to acquired knowledge.
You may be mixing up your right and left.
I think that the right copy & paste at the right time is akin to
Copy paste this..
https://www.youtube.com/watch?v=5IuJGHuIkzY
This is CLEAR PROOF that the DNC PAYS PEOPLE TO INCITE VIOLENCE.
The End Is Nigh (JJ Edition):
Man has peni$ removed after getting it stuck in a bottle
A middle-aged man from Honduras needed an emergency operation to remove his peni$ after he got it stuck in a bottle he was using as a sex toy, according to reports.
The 50-year-old man, whose name was not released, was rushed to a hospital after his peni$ turned black and started to decay, the Daily Mail reported.
Dr. Dennis Chirinos said the man, who was not married and did not have a girlfriend, was trying to relieve his sexual frustration.
“So he put his peni$ in a bottle and this caused the death and necrosis of the peni$,” said Chirinos, a urologist who performed the bizarre operation.
“When he arrived four days later we had to amputate the peni$ completely because it was completely dead,” he said at a press conference at the hospital.
Chirinos said the blood vessels in the peni$ constrict when put into a bottle for four hours, which led to the removal of the organ.
“This is an embarrassing emergency,” Chirinos said. “The situation with this patient is that he didn’t get the medical attention in time and this caused the peni$ to begin to decay and die completely.”
The man will still be able to urinate, but will never again have sexual intercourse.
“@nytimes
Is the 162-year-old party that has produced 18 presidents,
including Lincoln and Reagan, about to fall apart?”
Hope so.
Grim (8:59a)
Those nasty immutable laws that can’t be pushed aside by soundbites are a real b!tch.
Two wage earners. One earning ‘2’ and one earning ‘6’. Income gap is 4.
Each respective (similar) spouse begins working. First family earnings is now 4, second family’s earnings is now 12. Income gap is now 8.
Double the incomes at disparity, double the gap. Math $ucks.
As with many items, the dual income family favored first movers. If you were among the ‘early adopters’ your purchasing power doubled relative to everyone else at the time. More cars, bigger house, vacation house, travel.
Fast forward when dual incomes are more the norm and all that has happened is that the income needed to maintain the prior standard of living has doubled, along with the gap. And heaven forbid if you don’t have a working spouse in that environment, you are really $crewed as your gap has exploded (10, 2 v. 12).
Goes back to my major b!tch about NJ and people confusing income with wealth and standard of living. High incomes are great, until everyone has them which does nothing more than decrease the actual standard of living for a higher cost. That does not make you wealthy. Just overwrought and overtired in a house your parents bought with one middle class income. Inflation 101.
Left,
Money is overrated. A huge house with luxury cars and nannies raising your children? Not worth it. Give me a girl who wants to be a mother and is willing to struggle somewhat on a single income. All meaningless spends disappear. Life gets no better than a beer with buddies at a local bar, a summer BBQ or just bringing your kids to local playground. Nothing like saving your points and miles for a dream trip once every five years. Sacrifice is the grease that makes things enjoyable in life and keeps your feet on ground. The most unhappy people are ones who worked non-stop, missed their kids upbringing but have lots of show things. They will have no identifible life when retirement hits and big shot ego is gone. Certainly lack of money is big problem but two incomes just to have globs of disposable income. The price is too high..that price is time and experience with friends and family.
Another video that will end Trump’s campaign. I can’t believe he treats women like this!
https://www.youtube.com/watch?v=B-XgMymBIY0
Perfect!!!
“Sacrifice is the grease that makes things enjoyable in life and keeps your feet on ground. “
I make the point since so many are looking at income inequality as a trend that is driven by greed and corporate America.
In this case, you have massive household income inequality being driven by two people meeting and getting married, through no specific fault or greed.
NJ Towns with low taxes, some I never heard of
http://www.nj.com/politics/index.ssf/2016/10/nj_towns_where_property_taxes_hurt_the_least.html?ath=e48193b1505a73e67f7874531301093d#0
Probably nowhere you want to live, except the fancy towns sprinkled in.
Bystander, -I’ll take the wife that works 70 hours a week and raises a family. As my wife learned early in life, “Never hitch your dreams to a man , you will only be disappointed”.
Grim: except more than a few of those fancy towns are not as fancy as they used to be but still have the high taxes that were a badge of being fancy.
South Jersey is getting off cheap.
My wife was a stay at home wife for many years when my kids were young. They are all out of school now and grown. We were the last generation that could do that in my opinion. I think it is almost impossible today for a middle class life style to have only one employed. Plus if the sole breadwinner gets laid off the consequences can be devastating.
And Youtube holding down the view count. When I first saw this a couple hours ago (Thanks Juice!) the views were gaining at 1,000 per minute, then it leveled off at 16,100 and just stuck there. Two hours later it was stuck at 17,350. Now it’s stuck at 17,975 views with 19,000+ likes!
Copy paste this..
https://www.youtube.com/watch?v=5IuJGHuIkzY
This is CLEAR PROOF that the DNC PAYS PEOPLE TO INCITE VIOLENCE.
Mike – Low property taxes in Camden. Any takers?
U.S. State Dept official ‘pressured’ FBI to declassify Clinton email: FBI documents
http://www.reuters.com/article/us-usa-election-fbi-clinton-idUSKBN12H1QA
A senior official at the U.S. State Department tried to push the Federal Bureau of Investigation in 2015 into dropping its insistence that an email from Hillary Clinton’s private server contained classified information, according to summaries of interviews with FBI officials released by the FBI on Monday…
Walking bye- I hear you on that but every woman that raises a family works 70 hours a week minimum, some just don’t get paid.
3b,
Yes, it is stressful but lots of people still doing it. My company is exiting the US over next few months so I will be job hunting soon. At end of day. you have to keep some savings available and take a gig that may not be optimal but keeps some dough coming in. Healthcare remains to biggest concern as rates are just ridiculous and ACA is his not getting prices down.
twitiot at 12:20
There wasn’t even a tweet let alone a thought.
Just when you thought the twitiot couldn’t get any stranger.
Bystander, understand we have 3 kids. so yeah thats 70 hours at work plus whatever it takes for her at home to raise the kids at home. It can be done its just a state of mind.
Comrade,
I entered fall 2000, finished in 2002 I think. I was working at 90 West St. Until 9/11 destroyed my office, worked from a home office until after I finished school and got my next job back in nyc in 2003.
Bystander I understand . I did it early in my career and it was tough than. It’s tougher now. Some may still be doing it but I believe those numbers are dwindling.
It’s doable, just not here.
Grim, would you agree that MBA education is very different from undergrad education (or courses that Ben taught where there were adults that never went to college)?
The original statement from Ben was “When I taught at Rutgers, my very best students were the people in their mid-30s who never went to college and were now going on their own dime.”
It doesn’t compute. Unless it is a trade type course (there were many “learn HTML in 10 days and start making 100k salary” type courses in late 90’s), or a forced elective.
Some related experience I have had was when I had to tune out a core course because the professor was teaching at very basic level and I had already covered all the material and more in my undergrad. For a bean-counter, I’d have looked like I wasn’t understanding what was happening (I got an easy A and the prof offered to be my graduate advisor). If he were incompetent and/or insecure, I’d have received a bad grade and worse :)
My daughter faces this at school… They are making her do “multiplication facts” (fancy title for 8’s table) at school. She is doing basic trigonometry at home (really very basic, so don’t read too much into it — she wants to be a fashion designer, so I convinced her that she needs to know her angles and geometry). If she even lets the teachers know what she is studying, she will look arrogant or bossy or dis-obedient. No matter what, her lack of interest will show, and she will never even register on the radar of “good student”.
Basically, Dunning-Kruger effect at play.
I do it.
One Flea, Two Flea, Brown Flea, Blue Flea.
BREAKING NEWS ALERT: Patrick Kennedy was just given an immunity deal.
Is anybody else starting to think that Clinton will not be able to stack up enough grabbed cunts to match the mountain of FBI releases, wikileaks emails, and O’Keefe undercover videos coming down the pike?
Grim : agreed.
66
Nope
Grim,
The difference is, you have two households, one with a household income that’s absolutely stratospheric, and the other, barely above poverty levels.
Shouldn’t the tax policy try to help the ones that are barely above poverty levels? So that they can send their kids to decent colleges debt-free?
Eddie Ray,
You have a comical punchline to that story. When someone says to you “Go Fcuk Yourself”, you can respond that you already have!.
Uber in Summit. Problem with this model is that you are hammering Uber into a model its not designed for.
How many cars do you have to have in the area to get 100 people to a 7:30 Train?
How much is the town kicking in to subsidize the $2 fare.
What happens to Ubers High demand pricing?
Where do the cars move on to after the rush?
How do you get the cars back for the evening rush hour?
This seems like trying to recreate the Hoboken Taxi Stand for just a few hours a day.
Grim,
I’ll take the other side of the Trump bet. The brand is toast.
I did not couch it in these terms. But I did say, the GOP would regret having let the Tea Party out of the box. They lost control of that wing of the party.
https://www.theguardian.com/commentisfree/2016/aug/09/gop-tried-sink-obama-imploded-extremism
President Trump would be exactly that. Two parties in congress and a third party in the Executive branch
No what you end up with is the Dems as they were and the GOP split their vote and never get to majority again.