From Reuters:
Data Dive: Will 2017 be the year millennials buy houses?
Millennials have been the largest demographic group since 2015, but they have not been pulling their weight in buying homes. And that’s put a big crimp on the housing recovery.
Both Zillow.com and Realtor.com, two online real estate powerhouses, are betting that next year those between ages 18 and 36 will start turning that around.
Realtor.com predicts that home prices will increase 3.9 percent over the next year, with sales of nearly 5.5 million homes. The site expects mortgage rates to reach 4.5 percent (from around 4 percent now).
Economic trends can’t undermine the demographics at play next year, though, which is why Smoke thinks the numbers will pan out. For one thing, huge swaths of the baby boom generation will be retiring and potentially looking to downsize. “Baby boomers for the last several years have been under-represented. But the older quarter are more involved now,” Smoke said.
Millennials have also been sitting out the housing market, but Realtor.com predicts they will soon make up 33 percent of the market, while boomers only make up 30 percent. And they will be particularly focused on buying in the Midwest.
…
Zillow is also rosy on the prospects of millennials buying more houses in 2017. A new report finds that half of all home buyers are under 36, as well as 56 percent of all first-time homebuyers.While millennials have put off homebuying for a number of reasons – including massive student debt, low wages, high rents and low inventory of affordable homes – Zillow senior economist Skylar Olsen thinks they simply were not ready emotionally. But now the leading edge of the generation is hitting their mid-30s, and may finally be thinking about things like marriage, kids and mortgages.
“Homebuying doesn’t really become a dream of yours until you hit those major life events,” said Olsen.
Will it …….mostly yes
Thank you for sharing that. I really don’t know what to think anymore, this is what happens when money is involved…..human nature takes over. Guess the side set to make the most “profit” is on the so called “right” side of the argument.
chicagofinance says:
December 4, 2016 at 11:53 pm
You embarrass yourself you closed-minded political hack……
OPINION
My Unhappy Life as a Climate Heretic
My research was attacked by thought police in journalism, activist groups funded by billionaires and even the White House.
By ROGER PIELKE JR.
Has someone been talking to the pumpkin?
“Millennials have been the largest demographic group since 2015, but they have not been pulling their weight in buying homes. And that’s put a big crimp on the housing recovery.
Both Zillow.com and Realtor.com, two online real estate powerhouses, are betting that next year those between ages 18 and 36 will start turning that around.”
They def were talking to Pumpkin. This is def going to be one of the best calls ever made on this blog and I took a heap of name calling for it. Still think I’m an idiot?
“Economic trends can’t undermine the demographics at play next year, though, which is why Smoke thinks the numbers will pan out. For one thing, huge swaths of the baby boom generation will be retiring and potentially looking to downsize. “Baby boomers for the last several years have been under-represented. But the older quarter are more involved now,” Smoke said.”
Three out of four this morning. With the pollyannish hand wringing reminiscent of an eleven year old girl over ‘human nature’
See y’all tomorrow. Off to push wooden skewers into my eyeballs instead.
“The dozen nations in the proposed Trans-Pacific Partnership (TPP) trade group took seven years to hammer out a deal. President-elect Donald Trump promises to take just one day to scrap it. His fiery anti-TPP, anti-Nafta, and anti-Chinese exports rhetoric creates opportunities for rival powers to promote their own trade agenda, says Hussain Rammal, senior lecturer at the University of Technology Sydney Business School. When it comes to global trade, he says, “there is a leadership vacuum.”
China is already moving to replace the U.S. as trade champion. “Despite its recent setbacks, globalization remains an irreversible trend of our times,” Chinese Premier Li Keqiang said on Nov. 3 at a meeting where he and counterparts from Russia and four Central Asian countries discussed the possibility of a free-trade area. China is in talks to form an Asian trading bloc, the Regional Comprehensive Economic Partnership (RCEP), that would include Australia, India, Japan, South Korea, New Zealand, and the 10 members of the Association of Southeast Asian Nations (ASEAN). The latest round of negotiations is scheduled to take place from Dec. 2 through Dec. 10 near the Indonesian capital of Jakarta.”
https://www.bloomberg.com/news/articles/2016-12-01/russia-china-and-japan-fill-the-trump-trade-gap
What a paradox, communist china now pushing globalization while the leader of the free world reneges on it.
The opinion piece, “My Unhappy Life as a Climate Heretic”, is just further evidence that if you don’t tow the Party line, you will be villified, ostracized and silenced.
The left simply has zero tolerance for opposing viewpoints.
Not sure I would call what China orchestrates “free trade”. Go there and try to sell a product that competes with one of their industries and let me know how that works out for you.
Maybe if their Nanas sell to them 40% below market.
Will 2017 be the year millennials buy houses?
Time to buy a plastic tree?
Yuletide capitalism is running rampant this year — with the cost of a Christmas tree topping $1,000 in one Manhattan neighborhood.
Longtime Greenwich Village tree seller Heather Neville said Sunday that her tallest — and priciest — offering will command an astonishing $77 per foot from any buyer who can’t haul it home.
“This 13-foot tree — a beautiful fir — is $750, and with delivery, installation with a stand and tip would be $1,000,” said Neville, who bills herself as the NYC Tree Lady.
Neville, 40, broke down the add-ons as $200 for the stand, $25 for delivery and setup and $20 each to the three or four men needed for the job.
She also justified the sky-high price tag — which could pay for 600-plus meals for the homeless at the Bowery Mission — by pointing to the exotic nature of the white fir on display at Seventh Avenue and 11th Street.
“They are not a traditional Christmas tree, so they are harder to get,” she said. “Not many farmers grow them. To find a good one is difficult.”
Neville, who runs five other spots across Manhattan, gets all her holiday greenery from a secret source she identified only as “The Farmer.” She priced a hypothetical 15-footer at a whopping $1,200, including delivery and setup.
So far, her best sale was a 13-foot Nordmann fir that went for a relatively paltry $500 “a few days ago,” she said.
Meanwhile, across the island, Tom Evans — a Con Ed worker from Commack, LI — was carrying away a nondescript 6-foot evergreen he bought for $80 from a seller at First Avenue and 14th Street.
Evans, 42, said blowing $1,000 on a Tannenbaum went against “the Christmas spirit,” calling Neville “kind of the Grinch in the whole deal.”
“She’s catering to rich people or she is just after the money,” he said. “A tree is a tree, and there is no difference.”
East Village residents Adrian Chrzan and Jacquelyn Mitchell, both 30, were spotted lugging home a 5-foot Fraser fir they bought for $100, stand included.
“I wouldn’t be able to tell the difference between a white fir and any other tree,” said Mitchell, who works in finance. “They all look the same to me, so I’m just going to look for the best deal.”
Chrzan, an investment manager, took the critique a step further: “We are from Connecticut and you can get a tree this size [there] for 20 bucks.”
http://www.marketwatch.com/story/christmas-trees-will-cost-you-1000-in-this-new-york-city-neighborhood-2016-12-05
It’s not a a paradox. China is fighting to keep their citizens employed at slave wages while the us is fighting to keep their wages livable.
Exactly, Ben.
It’s not a a paradox. China is fighting to keep their citizens employed at slave wages while the us is fighting to keep their wages livable.
I don’t believe in fairy tales either. I know there is no such thing as “free trade” or “free market.”
nwnj3 says:
December 5, 2016 at 10:57 am
Not sure I would call what China orchestrates “free trade”. Go there and try to sell a product that competes with one of their industries and let me know how that works out for you.
It’s amazing to me the people employed in finance that defend so called free trade with currency pegs and perpetual one way trade deficits.
free trade can exist when two nations have similar standards of living. When there is a large disparity in wages….it’s always a one way street.
This nation grew to be the richest nation in world history under 200 years of tariffs. We don’t need the world
And more amazing that a ‘crazy’ billionaire stood alone in stating the obvious.
“It’s amazing to me the people employed in finance that defend so called free trade with currency pegs and perpetual one way trade deficits.”
I understand the theory behind it, you want to create more and more markets, but I’m with you. This is hurting us more than it is helping us. Free trade only works when you have a two way street in trade. When you are giving huge amounts of money to one trade partner in exchange for cheaper goods, the party will eventually end when you run out of money. There is no denying that.
Ben says:
December 5, 2016 at 12:00 pm
free trade can exist when two nations have similar standards of living. When there is a large disparity in wages….it’s always a one way street.
This nation grew to be the richest nation in world history under 200 years of tariffs. We don’t need the world
That’s not what happens. We never run out of money. We print it. We run out of assets. Right now…they are swooping up west coast real estate and NYC real estate with those dollars. Each year we sell off more and more of our country
We were also lucky enough to be geographically isolated from both World Wars, so when the wars ended we were the only country ready to retool our factories and sell the world our wares.
free trade can exist when two nations have similar standards of living. When there is a large disparity in wages….it’s always a one way street.
This nation grew to be the richest nation in world history under 200 years of tariffs. We don’t need the world
Free trade and globalization works best when it is not exploiting wage arbitrage. The goal should be “Efficiency” not lowest possible cost, and usually moving to third world countries requires more workers and the process usually regresses. Our ability to produce was our hallmark and led to victory in WWII and the subsequent economic boom, we are losing that and we need to be careful it is needed.
Hits the nail on the head. It’s not about lowest cost, lowest cost can be harmful, as demonstrated with our trade with China. It’s not a good thing when you erode the purchasing power of your consumer base. The goal should be economic efficiency. You have to remember that you can’t short shift workers to the point where they can no longer consume or create demand for their needs. The economic system becomes inefficient under the stress of an unbalanced system. It ends up hurting everyone in the end.
“The goal should be “Efficiency” not lowest possible cost, and usually moving to third world countries requires more workers and the process usually regresses. “
Huntsman being considered for Secretary of State?
I think he’s a good choice. He’s the only candidate for president in 2012 that I actually liked. Alas…Trumpkins will shout him down or find some obscure flaw with him.
Anyone from Tamil Nadu, my condolences for your chief minister.
“Millennials have also been sitting out the housing market, but Realtor.com predicts they will soon make up 33 percent of the market, while boomers only make up 30 percent. And they will be particularly focused on buying in the Midwest.”
lost, Would that be Midwest Jersey ? Hunterdon, Mercer?
Perhaps to attract Millenials, new housing should be built underground. That way, the transition from their parent’s basements won’t be too traumatic.
Perhaps to attract Millenials, new housing should be built underground. That way, the transition from their parent’s basements won’t be too traumatic.
Along with coloring books and playdoh.
Perhaps have designated safe spaces too?
I doubt I even told my parents when I bought my first condo at age 24. That would be hard to imagine today.
Same here. My parents were not part of my life after high school. They saw my college when they dropped me off frosh year and at graduation.
Yay just got my tax assessment card. They tacked on another 36,700 this year that is on top of the 30,000 last year. I have until Jan 15th to file an appeal. Seeing how they are planning on putting up high voltage power lines near me in Monmouth county and little is selling I should have a case for appeal.
Lol nice one.
You see that piece on “60 minutes” about Mississippi last night? If you think I’m optimistic about the future of the American economy, you should see this guy.
walking bye says:
December 5, 2016 at 2:54 pm
“Millennials have also been sitting out the housing market, but Realtor.com predicts they will soon make up 33 percent of the market, while boomers only make up 30 percent. And they will be particularly focused on buying in the Midwest.”
lost, Would that be Midwest Jersey ? Hunterdon, Mercer?
Check it out. Good stuff.
http://www.cbsnews.com/videos/the-golden-triangle/
8:22 — posting Norwegian Porn again are we?
Same here. I didn’t even go to my graduation, I’m guessing my parents didn’t either.
I’m trying to remember all the moves I pulled just to be away every Summer.
Summer ’78 I managed to live at RU (summer courses) most of the time.
Summer ’79 Bought my first car, went everywhere except home most of the time.
Summer ’80 Lived off campus at Douglas, June 1-June 1st lease.
Summer ’81 Again, all around in my car.
Same here. My parents were not part of my life after high school. They saw my college when they dropped me off frosh year and at graduation.
Lmawd6 Thank you for your article post.Much thanks again. Really Cool.
YmqWcR Relatedjust beneath, are numerous totally not related sites to ours, however, they are surely worth going over
https://www.bloomberg.com/view/articles/2016-12-02/the-rust-belt-needs-a-bailout-a-big-one
“The post-election advance in U.S. stocks fits into a pattern at the beginning of presidential cycles, and if history is any guide the rally greeting Donald Trump is only halfway done.”
https://www.bloomberg.com/news/articles/2016-12-06/one-historic-lens-says-trump-stock-market-lovefest-just-starting
The website is a cesspool……I hold grim responsible…..deck the halls chump!
Place has cleaned up. No longer have people predicting the end of times or posting zerohedge articles, so we are heading in the right direction. Did Clot drink himself to death after realizing the end of times are not coming?
chicagofinance says:
December 6, 2016 at 9:29 am
The website is a cesspool……I hold grim responsible…..deck the halls chump!
Did Clot drink himself to death after realizing the end of times are not coming?
How do you know who Clot is? It’s a rhetorical question of sorts because it’s blatantly obvious that you’ve posted under endless handles with your attempt at satire. The bottom line is that it’s not even remotely clever or savvy.
Clot abused me with my pumpkin handle. I only started posted on here in the past 3 years. I do not even remotely try to be clever, savvy, or snarky. I generally am an upbeat positive individual.
Some people on this blog are so negative, they mistaken my positive outlook with satire. They have been consumed with negativity and look at the world with the perspective of a negative person. Quicker you stop looking at the world with negative bias, the quicker you will be happy with whatever life you have left.
For example, a negative person like clot wins the lottery, instead of being happy and grateful, he complains about how much taxes he has to pay on his winnings. That’s no way to live with the only life you have. Enjoy the journey, look at problems as challenges. It’s all about changing your perspective from negative to positive. Of course it can be better, but it can always be worse.
It’s like this, 1/3 of the world is living in absolute poverty, so no matter what problems you have, or how bad you think your life is, just know a 1/3 of the world population would trade their problems for yours.
God bless America and the amazing life this country provides. We all won the lottery ticket being born into this economic system. Cheers. Get into the holiday spirit and make yourself and others happy by taking on a positive outlook in life.
Fast Eddie says:
December 6, 2016 at 10:07 am
Did Clot drink himself to death after realizing the end of times are not coming?
How do you know who Clot is? It’s a rhetorical question of sorts because it’s blatantly obvious that you’ve posted under endless handles with your attempt at satire. The bottom line is that it’s not even remotely clever or savvy.
We just need to design a bot to play with pumpscum all day and the rest of us can go someplace unpolluted by his toxic drivel.
pumpkinator: what a shallow and pathetic description of one of the most wise and shrewd posters ever here…..his command of language and general knowledge were really impressive…….completely missed by you is the fact that some of the most intelligent people are the most negative and depressed…..why do you think?
dedicated to joyce…
https://youtu.be/ZBlPZJCgPsA?t=3m25s
My favorite clot post …or series of posts was when he and yome began threatening each other’s lives online. I think yome went looking for him when he worked at the liquor store in JC. I really thought someone was going to get shot.
Only to be posted by a bitter renter…..
http://www.nbcnewyork.com/news/local/Zombie-Mansion-Viral-Video-Wealthy-Colts-Neck-New-Jersey-404350896.html
I know he is highly intelligent. I tried to get him to see the light many times, but his thinking process is consumed by negativity. He no longer sees any positive in anything, he was totally over taken by negativity. If he could reconfigure his thought process and focus on positivity, there is no telling what he could achieve in this world with his level of intelligence.
You need to focus on things you can control. You can’t focus on negativity, it destroys your perspective, and causes you to look at all things with the same negative perspective. Once this happens, you start to think everyone is out to get you. That everyone is selfish and all for themselves. You can no longer trust anyone. Next, you start to lose ambition as you become focused on “what’s the point.” Then you start hitting the bottle to make your day go by. Before you know it, you are a bitter old man, mad at everyone, as you let negative perspective/thoughts destroy your life. You are mad at everyone when you should be mad at yourself for wasting the gift of intelligence in favor of negativity.
Remember, nothing is perfect. So don’t get upset when something isn’t perfect. Live for the NOW, don’t let yesterday or tomorrow control your life. If you messed up in the past, who cares, just another learning experience, don’t let mistakes consume you. The most successful people are the ones that failed the most times. Through failure, you grow. Steve Jobs, the face of apple, got kicked out of his own company for god’s sake. He could have sat there and had a pity party the rest of his life, but he stepped it up and took the company back, and the world is now better for it. Thank you, jobs, for not letting failure or negativity consume your life. A beautiful lesson for everyone.
chicagofinance says:
December 6, 2016 at 10:43 am
pumpkinator: what a shallow and pathetic description of one of the most wise and shrewd posters ever here…..his command of language and general knowledge were really impressive…….completely missed by you is the fact that some of the most intelligent people are the most negative and depressed…..why do you think?
I def missed some good times on this blog. Never realized it got that real in here.
D-FENS says:
December 6, 2016 at 11:07 am
My favorite clot post …or series of posts was when he and yome began threatening each other’s lives online. I think yome went looking for him when he worked at the liquor store in JC. I really thought someone was going to get shot.
chifi – Can’t the town just seize that property through eminent domain as blighted? They should at least use the threat to turn up the heat on the creditors.
Lost pumps tried to show clot the light. What can I say. What can anyone say about that comment.
Do you realize he is sick? He is overcome with negativity. He prob had a major fall and instead of getting back up, went to the dark side with negativity. I tried to help the guy while people like you let him throw away the rest of his life by supporting his negativity.
3b says:
December 6, 2016 at 1:20 pm
Lost pumps tried to show clot the light. What can I say. What can anyone say about that comment.
Re: I think yome went looking for him when he worked at the liquor store in JC.
I did too he gave me a really good deal on a case of expensive wine I was giving out as gifts, no lead or bazookas included.
Lost – Clot had his own real estate office, he saw first hand the zombification of prime grade A New Jersey real estate. There is no recovering from that.
Lost,
lol! You’re a scream and not in the way that you think. How many handles have you had? Let’s hear the RE101 mantra again.
By the way, where’s Free, Otto and puzzy? Did someone give them a puppy for their safe rooms?
Wow, that explains it. He took a huge fall and witnessed the nasty side of human society first hand. Hope he recovers, I really do. One think you can say, he is def strong, a lot of people might have taken their life from that kind of fall. Hope he turns it around.
Juice Box says:
December 6, 2016 at 2:07 pm
Lost – Clot had his own real estate office, he saw first hand the zombification of prime grade A New Jersey real estate. There is no recovering from that.
True?
https://www.bloomberg.com/news/features/2016-12-06/want-a-job-in-silicon-valley-keep-away-from-coding-schools
Lost – You could go to the local University for 6 months as well spend $10K for a coding cert and still fail job interviews.
Bottom line is companies want fluent programmers with experience.
http://codingbootcamp.rutgers.edu
Puppies!! My daughter’s college is having a Puppy Therapy session at the Library, followed by free massages and “flavored” oxygen bar…so they can cope with Finals week….
It should be Nitrous Oxide.
Any thoughts on Amazon GO?
In the spirit of Bah Humbug negativity I will give my opinion.
I am still waiting for my drone delivery, I don’t want to go to the store.
It will cost a lot of time and money to hire people to manually attach RFID tags to every single item for sale in a store including the deli counter made baloney sandwich.
I would think Amazon will try and push that cost off on suppliers. Walmart had the same idea about 16 years ago, it went nowhere and they tried for 10 years or longer to implement RFID on everything.
Grocery is $800 Billion retail in the USA. Amazon needs to open 2,000 large and local brick and mortar stores to even get 10% of the grocery business.
Grim unmod my comment on coding bootcamp plz
Clot sick?? Look in the mirror.
check this one out….
http://www.nydailynews.com/news/politics/secret-service-advertised-amenity-trump-tower-article-1.2900647
Wouldn’t the millenials be better served if their parents charged them rent after they moved back into their basement? Kind of a leap from parents basement to homeowner.
This place looks like some farm fields in late November. Completely covered in worthless pumpkin detritus.
http://www.wsj.com/articles/donald-trump-says-softbank-pledges-to-invest-50-billion-in-u-s-1481053732
SoftBank Pledges to Invest $50 Billion in U.S. After Meeting With Trump
President-elect met with SoftBank founder Masayoshi Son in Trump Tower
By Ryan Knutson
Dec. 6, 2016 3:37 p.m. ET
SoftBank Group Corp. Chairman and Chief Executive Masayoshi Son said Tuesday he would invest $50 billion in the U.S. and create 50,000 new jobs, following a 45-minute private meeting with President-elect Donald Trump.
What ADULT came up with this idea?
What STUDENT is running the session?
Puppies!! My daughter’s college is having a Puppy Therapy session at the Library, followed by free massages and “flavored” oxygen bar.
re: SoftBank/Sprint pledge
Would not have happened if Hillary won per Softbank CEO Masayoshi Son
https://www.youtube.com/watch?v=H6sEao3hx-Y
50k well paying jobs or 50k poor paying jobs?
Really good interview.
“It’s important to realize, though, that the problem is not scientific literacy. Most laypeople who believe in evolution or who acknowledge human-made climate change are just as ignorant of science as those who deny them. The issue is identity. People treat opinions as badges of loyalty to a tribe or coalition. If “good people,” people like them, believe X, they will believe X. Some climate activists believe that the worst thing that happened to the movement was Al Gore becoming its implicit spokesperson, branding it as a left-wing movement. Before that, the issue was nowhere near as polarized.
The challenge is to dissociate scientific hypotheses from identity politics and bring people around to the radical notion—the core of the Scientific Revolution and the Enlightenment—that they should believe things only if they are true. How to do this is an unsolved rhetorical challenge, but finding spokespeople who break out of their coalitional stereotypes—such as prominent conservatives who acknowledge human-made climate change—is a start.”
http://motherboard.vice.com/read/steven-pinker-talks-about-donald-trumps-victory-long-term-progress-and-wheth
“As for collective moral progress, I see it as pushed and pulled by two sides of human nature. Dragging us back are atavistic mindsets like zero-sum thinking, authoritarianism, tribalism, dominance, and vengeance, which operate pretty much by default. Pulling us forward are the better angels of our nature like empathy, self-control, and reason, which are energized by the Enlightenment institutions of democracy, science, education, open economies, and a global community.
It’s impossible to prophesy which forces will prevail at a given time. But data from the World Values Survey suggest that if the world continues to get richer, better educated, and more connected—all steady trends—it will also tend to get more liberal and cosmopolitan. As you are forced to deal with other people who are not like yourself, you are automatically driven to universal values like reason, science, and human flourishing, and away from parochial ones like “My holy books are true” or “Make American great again.””
25% pumpscum posts today. What a cunt.
I’m happy that Lost is Found….hahahaha
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