From the NYT:
Home Sales Brisk in New York City’s Suburbs
Real estate market temperatures in the commuter suburbs around New York City range from warm to sizzling, having never really cooled down for the winter.
As 2016 ended, prices remained stable, but most markets showed rising sales volume and a dwindling supply of homes for sale. Now, on the cusp of spring, any slack left over from the financial crisis is largely gone, with the exception of an oversupply of luxury homes at the very top.
In Westchester and Fairfield Counties, “I wouldn’t characterize anywhere as dead or nonactive,” said Jim Gricar, the general sales manager for Houlihan Lawrence. “Two years ago, I couldn’t have said that. But today, I feel confident saying it.”
On Long Island, in both Suffolk and Nassau Counties, the housing markets are moving at a “blistering pace,” and prices are accelerating, according to a fourth-quarter market report from Douglas Elliman Real Estate.
And in the inner-ring New Jersey suburbs closest to Manhattan, the markets are so brisk that many have less than three months’ worth of inventory, according to Jeffrey Otteau, the president of the Otteau Group, an appraisal and advisory firm. By way of comparison, in 2012, most of those markets had a four-to-eight-month supply, a more typical range.
The dynamics driving demand vary from suburb to suburb, but industry experts cited several overall reasons for the busy winter. First, many buyers had been holding off on making a purchase until after the presidential election, largely because of uncertainty about the outcome. That pent-up demand was unleashed after Nov. 8, and has been helped along by a mild winter.
“Anecdotally, the brokerage community said literally the day after the election there was a pop — activity jumped,” said Jonathan Miller, the president of the appraisal firm Miller Samuel, which prepares the Douglas Elliman market reports. “We saw the same thing after the 2012 election. When the numbers come in for the first quarter, I think we will see an uptick over a year ago.”
…
In New Jersey, price growth has been very modest across the state as a whole, even as sales volume grew by 12 percent last year. But appreciation is much more robust in the economically strong commuter suburbs closest to the city, such as Jersey City, Hoboken, Glen Ridge and Ridgewood, according to Mr. Otteau.He noted that January brought an unusual statewide spike in sales of homes priced between $1 million and $2.5 million, a market segment that had slowed in recent years. While the 19 percent year-over-year surge might be an anomaly, Mr. Otteau said, it could also be a sign that high-income buyers are feeling extra confident, possibly because of the Trump administration’s talk of financial deregulation and tax reform.
“It’s completely opposite to what we’d been seeing previously,” he said.
From Bloomberg:
Homebuyers Face Bidding Wars on Scarcer-Than-Ever U.S. Listings
The winning bidder of a Grand Rapids, Michigan, house has been offered almost $20,000 to hand his purchase contract to another buyer. An agent in Nashville, Tennessee, got a property for his client by cold-calling local homeowners. Near Columbus, Ohio, it took a teacher five tries to secure a deal.
It’s the 2017 U.S. spring home-selling season, and listings are scarcer than they’ve ever been. Bidding wars common in perennially hot markets like the San Francisco Bay area, Denver and Boston are now also prevalent in the once slow-and-steady heartland, sending prices higher and sparking desperation among buyers across the country.
“Homebuyers are going to find this spring that, in a lot of markets, the inventory of homes priced and sized at price levels they were hoping for will be very limited,” said Thomas Lawler, a former Fannie Mae economist who’s now a housing consultant in Leesburg, Virginia. “Unlikely places are getting significantly tighter.”
Buyers are clamoring as an improved job market and growing confidence in the economy collide with rising mortgage rates — yet there’s little new inventory for them to purchase. Housing starts remain well below levels before the last recession, and builders have focused on higher-end properties out of reach for many people. Homeowners have become even more reluctant to sell because, after all, where are they going to move?
The three months through January had the fewest homes on the market on record, according to an analysis by Trulia. Prices jumped 6.9 percent in January from a year earlier, the biggest increase for any month since May 2014, data from CoreLogic Inc. show. And homes sold faster in the first two months of 2017 — spending an average 58 days on the market — than at the start of any year since at least 2010, according to brokerage Redfin.
Homes are moving fastest in Denver, Seattle and Oakland, California — areas where heated competition have become status quo in recent years because of soaring job growth, particularly in the technology industry. But fourth on Redfin’s list is Grand Rapids, Michigan’s second-largest city, in a reflection of strengthening employment across even the slower-growing center of the country. Buyers are also struggling in cities such as Boise, Idaho; Madison, Wisconsin; and Omaha, Nebraska.
The winning bidder of a Grand Rapids, Michigan, house has been offered almost $20,000 to hand his purchase contract to another buyer.
This is something I never thought of or heard of during the Bubble of the Aughts’. Everyone assumed you had to throw more and more money at the seller to get to the top of the mountain. It might have been cheaper to buy off competing bidders.
Can someone please give me some respect and say nice call on the overall economy, labor market, and housing market. I made all these calls 5 years ago and have been dead on. I was called an idiot for these calls to the point I started questioning my intelligence. Thankfully,I never backed down and stuck to my analysis. Any one that came to this blog 5 years ago and listened to what I said, has made really good financial moves.
In 2012/13, I was told over and over that the stock market is going to bust. I stated over and over again that I see no reason for the market to go bust. I was told the bull run was going for too long and due for a major correction, and I stated in response over and over again the length of the bull run is no concern to me, just the fundamentals, and the fundamentals stated there was no reason the stock market wouldn’t keep growing. So everyone that left their money in the market since 2012/13 has made a killing. Others missed the train( lots of people thought it was due for correction and missed this).
On housing, I stated over and over to take whatever money they will loan you at ultra cheap rates and buy as much real estate as you could with it( I was called an idiot for this). That by 2025, you will be able to sell at the top of the next boom cycle of real estate. Stated millinneals (demographics) would be the source of this fuel to rocket this economy combined with perfect timing in the business cycle to give us most likely the best boom period in our lifetime. Remember, housing and consumption are the biggest drivers of our economy, so it’s pretty obvious the millennials would drive both of these factors as they started to buy houses and participate in the economy in a meaningful way. Miss the days of everyone thinking the millennials would never partake in the economy and would live in their parents basements their entire life…..the suburbs were dead.
Thankfully, I was millennial myself and called bs on this. I knew what millennials really wanted, and understood why they were not acting on what they wanted. Labor market was a mess. They had no choice but to push off marriage and live in their parents basement, or move in with friends in some urban location(save money on no car and be close to bars and crappy job). As soon as they got the “real” jobs, marriage would follow, and after that kids. Then they all make their march to the suburbs to raise their family.
Remember, we are only at the beginning stages of this whole boom period. Roaring 20’a, here we come all over again. Call it roaring 20’s 2.0.
Improved job market and growing confidence = the start of the next boom period. Nice call, pumpkin! Just remember everyone, we are only getting started, you have not seen anything yet.
“Buyers are clamoring as an improved job market and growing confidence in the economy collide with rising mortgage rates — yet there’s little new inventory for them to purchase. Housing starts remain well below levels before the last recession, and builders have focused on higher-end properties out of reach for many people. Homeowners have become even more reluctant to sell because, after all, where are they going to move?”
@MichaelIanBlack
160 years ago, the Irish were poor, uneducated, starving refugees.
We welcomed them by the millions.
Happy St. Patrick’s Day.
Pretty crappy comparison.
160 years ago, Irish were welcomed because we needed labor to build Canals and cities. Many came here as settlers and integrated themselves within the society quickly.
Today we have no jobs for immigrants, especially ones without an education. We stand to gain nothing by having a flood of immigrants moving in, packing themselves in apartments in Paterson and signing up for entitlement programs. Please explain to us how immigrants from Somalia and Syria are going to help this country? Just name 1.
Yes, pumps, nice call on this too.
3b, still want to write off jersey?
I think northern jersey might be one of the hottest locations in our country over the next ten years in terms of housing market and economic growth.
“And in the inner-ring New Jersey suburbs closest to Manhattan, the markets are so brisk that many have less than three months’ worth of inventory, according to Jeffrey Otteau, the president of the Otteau Group, an appraisal and advisory firm. By way of comparison, in 2012, most of those markets had a four-to-eight-month supply, a more typical range.”
Dead on! We were a manufacturing giant. Needed as much cheap labor as possible. Today, we are quite the opposite. We have no need for low skilled labor in large numbers. We are in need of highly educated and highly skilled immigrants. We don’t have an economy that depends on low skilled labor anymore and people need to realize this. Just give me one example of bringing in more uneducated/unskilled labor will help our economy. As blue ribbon alludes to, we already have legions of low skilled workers in our nation that can’t find work, what is bringing another million going to do? Why bring them here if there is not a need for them here? Are people really rooting to bring low skilled immigrants here to watch them suffer in the ghetto with no hope of improvement? Is this what we want?
“160 years ago, Irish were welcomed because we needed labor to build Canals and cities. Many came here as settlers and integrated themselves within the society quickly.
Today we have no jobs for immigrants, especially ones without an education. We stand to gain nothing by having a flood of immigrants moving in, packing themselves in apartments in Paterson and signing up for entitlement programs. Please explain to us how immigrants from Somalia and Syria are going to help this country? Just name 1.”
Has anyone else ever heard of “indirect grilling”? I tried it for the first time last night with a thin (1″) london broil. Same as a thick cut, you marinate it, then sear it for 3 minutes on high heat each side on the outdoor grill. The indirect grilling comes next. Assuming 2 burners, turn one down to medium and turn the other one OFF. Put the meat on the COLD side for 5 minutes on each side, then turn the grill off and let it sit for about 10 minutes on the upper rack. It came out perfect.
Expat try and indirect grill some ribs. There are plenty of videos on how to do it right.
I thought standard contracts has a non-assignment provision.
Me thinks Nouriel is caught naked in a bad trade.
http://www.cnbc.com/2017/03/18/china-development-forum-nouriel-roubini-warns-markets-overestimating-donald-trump-policy-positives.html
I do most steaks this way – preheat oven to 500 – quick two minute blistering sear on a hot skillet then right into the oven until you hit desired doneness.
Then a big pat of butter in the skillet to brown, and baste the steak a few times with spoon.
Rest for 10 – eat.
Chef from a fancy NY steakhouse said there is no better way.
I don’t even bother with the grill for steaks anymore.
Regarding sear temperature- if you are doing it right you will hear the steak scream.
Excellent grim! I’ll try that next time, we have the perfect setup for it, a “dual fuel” range. Our burners are gas and varied in size, but the oven below is straight electric with a temperature probe for the meat. Is that a trend now? I guess electric maintains exact temperature better and you can’t be exposing your probe to direct flame?
I do most steaks this way – preheat oven to 500 – quick two minute blistering sear on a hot skillet then right into the oven until you hit desired doneness.
Then a big pat of butter in the skillet to brown, and baste the steak a few times with spoon.
Rest for 10 – eat.
Chef from a fancy NY steakhouse said there is no better way.
I don’t even bother with the grill for steaks anymore.
So to sear the steak do you just take your biggest burner on high under a skillet and put the steak in when you think the pan might melt? Do you use an indestructible cast iron skillet, a cheap non-stick, or your best ware from Williams-Sonoma? Maybe use a little bit of avocado oil as an indicator/non-stick agent? Avocado oil has a smoke point of 520F.
https://en.wikipedia.org/wiki/Smoke_point
BRT,
A fair point but an obvious one. And no one considers the puzzy to be a deep thinker so pointing out his many argumentative shortcomings is an exercise in futility. Nothing can cure that level of venality and stupidity except death
Pumpkin I am busy so will respond quickly. Yes I do fundamentals for Jersey still suck. Otteau is a real estate cheer leader. Still amazed you see an article and it confirms you are right.
Juice – thanks, It’s not even noon and I have nothing but dinner meat on my mind.
Expat try and indirect grill some ribs. There are plenty of videos on how to do it right.
I already picked at some of the left-over london broil for breakfast around 6AM, now I’m thinking of having some more with eggs sunny side up.
I do only charcoal. It is a guaranteed smoky flavor. A charcoal grill may also double as a smoker with a little practice.
Marinate a thick sirloin steak in a soy bath with garlic,pepper and brown sugar for an hour. Get your grill nice and hot then put steak on then close down the vents. Cook about 5 minutes on a side, pour on the marinate when you flip.
I am running out now for a steak. Whole Fods has great sirloin, nice thick cuts and on sale quite a bit.
A fair point but an obvious one. And no one considers the puzzy to be a deep thinker so pointing out his many argumentative shortcomings is an exercise in futility. Nothing can cure that level of venality and stupidity except death
He’s not a thinker at all. He’s a retweeter. The problem is, my facebook feed was littered with all kinds of posts using Irish Immigrants of the 1800s and 1900s as a reason to let everyone into this country. When they stepped off the boat from Ireland, a lot of them were enlisted to fight the civil war.
Allot of IRISH were brought here as slaves, history has a way over time of changing the facts of the rwal story to fit the narrative that these people were not slaves but servants.
https://www.google.com/search?ie=UTF-8&client=ms-android-att-us&source=android-browser&q=white+cargo#imgrc=KDsEZCS9dY98bM:
Just had two eggs sunnyside with london broil, buttered toast for lunch. Oh yeah, and left over potatoes au gratin instead of homefries.
Pretty soon we’ll all be part Irish or part African so we can get our fair share of reparations, not to mention casinos on…hey, where will the tribal land be? Manhattan, I guess?
Allot of IRISH were brought here as slaves, history has a way over time of changing the facts of the rwal story to fit the narrative that these people were not slaves but servants.
Everyone has been spot on with the grilling. I agree and often cook steaks Grim style, especially when the weather is bad. As for the quality, you can season the cheapest, thickest cast-iron pan and it will work the same as your WS best. No need to oil. The sear will keep meat from sticking. Though, I still prefer outdoor over indoor. First, you get the flavor of the last ten years meals in your steak. Second, it’s cleaner and significantly easier as there is no pan. Finally, Gator is not a fan of the whole house smelling like Ruth Chris.
I’ve even been indirect cooking my burgers. Sear 1 minute on each side then indirect at 350 or so for 7 minutes per side. Works great with 1/3 pound burgers.
Oh yeah, it’s much easier to check the temperature of the steak on the grill, than it is in the broiler.
Just like the doomers are right sometimes, so are the cheerleaders. Trick is to know which one is correct. For now, I take the cheerleader position. When it comes closer to bust time, I will once again take the doom position as the masses are consumed with euphoria not realizing the good times will come to an end.
3b says:
March 18, 2017 at 10:51 am
Pumpkin I am busy so will respond quickly. Yes I do fundamentals for Jersey still suck. Otteau is a real estate cheer leader. Still amazed you see an article and it confirms you are right.
Trump really lucked out. Walked into presidency at the start of the next boom cycle. So his first term will be during the early stages when the majority are starting to do better. His second term will be in the all out boom period. When the next guy comes to office, he will be handed an economy that is due for a major bust. Might survive it first term, but if elected to second term, will be no escape.
Trump is prob going to go down as one of the greatest presidents ever, and the sad part, he really had nothing to do with it, but will get full credit.
Repost from last thread.
Puts some perspective on the issue. Add in the other European nations and you have a large chunk of the 11 Million undocumented.
http://www.cnn.com/2017/03/16/us/white-irish-undocumented-trnd/index.html
Lib – LOL. I learned this the hard way about 25 years ago. I had some burgers or a London broil at a friend’s house in Nutley. He had one of those mini-grills with one of those 1 liter side propane cans and I thought it was the greatest thing ever. An apartment dweller in Bloomfield myself, I ran out and bought one to use either on the fire escape or the roof and was quite disappointed when my first set of burgers cooked over the brand new ceramic stones tasted like I made them on a hotplate. I briefly contemplated going over to my friend’s house and stealing his rocks as it didn’t take an engineer long to figure out the cause of the difference.
BTW, does anyone remember grills connected to a home’s Natural Gas supply? In 1965 we had one that my Dad installed/had installed shortly after moving into our newly constructed CH Colonial. Big Double grill (two lids), had an underground gas line that ran the length of the house then around the corner of the house to the gas meter where there was a petcock valve where it could be turned off for the Winter or whenever. As there was no tank and the grill wasn’t movable, both grills formed a “T” mounted atop a structural 4″ diameter pipe impaled in the ground. IIRC, the gas line to the grill was about 1/4″ or 3/8″.
Though, I still prefer outdoor over indoor. First, you get the flavor of the last ten years meals in your steak.
How about this? Who remembers when propane tanks attached with a rounded brass nut that required a wrench? The reason it was rounded was because some sh!t-for-brains didn’t know it was a left hand thread until they tightened the hell out of it.
Left-hand threads that people use every day and never realize: Push-up, rather, screw-up deodorants. You turn it clockwise to “get more”, but it actually uses a left hand thread to “unscrew” from the platform pushing up the anti-stink.
Ruth’s Chris Steakhouse – What’s behind the name. Chris Steak House was founded on February 27, 1927 by New Orleans entrepreneur Chris Matulich. It was located at 1100 North Broad Street near the New Orleans Fairgrounds Racetrack, seated 60 people, and had no parking lot. During Matulich’s 38-year management, the business was sold six times, failing each time, and enabling him to buy the restaurant back cheaply from the purchasers. This became a cottage industry for Chris. He would sell the restaurant, wait for it to fail, buy it back cheaply, build it back up, sell it again…rinse, repeat. I actually like that business model. Ruth Fertel was a divorced single mother who needed money to send her teenage sons to college. Ignoring the advice of her banker, lawyer and friends, Ruth purchased the restaurant in 1965. Fertel personally took a hand in every part of the business. She had to teach herself how to butcher steak, and despite being just five-foot-two and 110-pounds, would saw up 30-pound short loins by hand until she could afford an electric band saw. She staffed her restaurant with single mothers, saying that they were hard workers and reliable. For many years, Chris Steak House was the only upscale restaurant in New Orleans with an all-female wait staff. In early 1976, shortly after Fertel signed a new ten-year lease on the restaurant, a fire destroyed the building(Hmmm….). Fertel had recently acquired a second property nearby to rent out as party space. Within seven days, she had relocated the restaurant to its new location a few blocks away at 711 North Broad Street and re-opened it, expanding to 160 seats in the process. The sales agreement with Matulich prevented her from using the original name at any other address, so she named the new restaurant Ruth’s Chris Steak House in order to keep some continuity with the previous location. She admitted later to Fortune Magazine that “I’ve always hated the name, but we’ve always managed to work around it.”
I’ve been to that track. That’s where Jazzfest is held. Interesting about the deodorant.
Anyone interested in going?
https://www.bnaikeshet.org/event/jeff-hitchcock-co-founder-of-the-center-for-the-study-of-white-american-culture-on-what-white-people-can-do-about-racism.html
Anyone interested in going?
https://www.bnaikeshet.org/event/jeff-hitchc0ck-co-founder-of-the-center-for-the-study-of-white-american-culture-on-what-white-people-can-do-about-racism.html
replace the 0 in hitchc0ck with the letter o to follow link. Then look up who the author married.
How bout them apples?
“Palm Beach Mayor Says They May Have to Raise Taxes to Pay for President Trump’s Frequent Mar-a-Lago Visits”
An article in the NY Times this morning where the Turkish President is encouraging Turks in Europe to have multiple children not 3 but 5 among other things. He claims Turks are the future of Europe and that is the best way to get back at the west for all the injustices they have suffered!! What a load of b.s. but more importantly when some say Muslims want to take over and destroy the west they are scoffed at or labeled bigots. And yet here we have the president of a large Muslim country calling for just that.
3b,
Yasser Arafat used to say that the Palestinian’s most potent weapon against Israel was the wombs of their women.
It’s also a rallying cry of many leftists.
Steam;
he awoke one day to find himself interracially married (since 1982) to a black feminist sociologist, the father of two children of color, and working for a minority-owned diversity consulting firm. These happenstance circumstances raised some soul searching questions before him
And I used to laugh about deadbeats who tripped over a closing table and would up owning an overpriced “transitioning neighborhood” sh!t shack. But to “find yourself” married to a harpie shrew of a SWJ and on the hook for two of her spawn? That’s quite a bit of bobbing through life on the wind and waves of fortune with not personal input, control, or responsibility. And what exactly does a “minority-owned consulting firm” do that is of any value to anyone? It sounds like Jesse Jackson’s Rainbow Coalition shakedown racket. I supposed the only thing missing is if his “wife” were a lesbi@n, then he might have been mayor of NYC.
Steam;
he awoke one day to find himself interracially married (since 1982) to a black feminist sociologist, the father of two children of color, and working for a minority-owned diversity consulting firm. These happenstance circumstances raised some soul searching questions before him
And I used to laugh about deadbeats who tripped over a closing table and would up owning an overpriced “transitioning neighborhood” sh!t shack. But to “find yourself” married to a harpie shrew of a SWJ and on the hook for two of her spawn? That’s quite a bit of bobbing through life on the wind and waves of fortune with no personal input, control, or responsibility. And what exactly does a “minority-owned consulting firm” do that is of any value to anyone? It sounds like Jesse Jackson’s Rainbow Coalition shakedown racket. I supposed the only thing missing is if his “wife” were a le$bi@n, then he might have been mayor of NYC.
Steam;
he awoke one day to find himself interr@ci@lly married (since 1982) to a black feminist sociologist, the father of two children of color, and working for a minority-owned diversity consulting firm. These happenstance circumstances raised some soul searching questions before him
And I used to laugh about deadbeats who tripped over a closing table and would up owning an overpriced “transitioning neighborhood” sh!t shack. But to “find yourself” married to a harpie shrew of a SWJ and on the hook for two of her spawn? That’s quite a bit of bobbing through life on the wind and waves of fortune with no personal input, control, or responsibility. And what exactly does a “minority-owned consulting firm” do that is of any value to anyone? It sounds like Jesse Jackson’s Rainbow Coalition shakedown racket. I supposed the only thing missing is if his “wife” were a le$bi@n, then he might have been mayor of NYC.
Hello. And Bye.
I wonder how many lurkers read this blog? Grim? What does the unique visit number look like?
Anywhere from 1500-1700 unique users a week.
That’s nuts…Not spammers?
Comrade yes it is . But it will be glossed over as it does not fit the narrative.
Also in the NY Times today an article by Robert schiller on real estate land as an investment and the old they ain’t making any more land. He is not impressed. Just saying.
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I’m guessing Clot is happy AF this morning
9:53PM
From the “learning to be a better whitey” class:
Attendance is limited to 25 people. To help with the cost of this event we are asking for a donation of $36 to $180 per person.
Land, they are not making any more of it but it does get recycled!
Speaking of recycled land, I hope it does not have a number two on it.
I’m a lurker and you guys are entertaining. Even your lack of faith in Pumpkin.
Only morons who read infowars believe this bullsh!t. The Irish in question were indentured servents who worked off their passage to America for a set number of years. They were not slaves brought here against their will and owned in perpetuity.
“Allot of IRISH were brought here as slaves, history has a way over time of changing the facts of the rwal story to fit the narrative that these people were not slaves but servants.”
LOL, dummy. The Irish were never welcomed willingly by Americans until well into the 20th century. And they were certainly not “integrated within the society quickly” They were considered as low as Asians and Blacks and lived in more cramped and squalid conditions than Mexicans in Paterson do today. They were also considered unskilled back in their day and did slop work and the dangerous work real Americans refused to do. It was several generations before any of them actually did what was considered skilled labor like running machines. You’re a teacher? Questionable. You’re an idiot. Proven.
Blue Ribbon Teacher says:
March 18, 2017 at 8:42 am
@MichaelIanBlack
160 years ago, the Irish were poor, uneducated, starving refugees.
We welcomed them by the millions.
Happy St. Patrick’s Day.
Pretty crappy comparison.
160 years ago, Irish were welcomed because we needed labor to build Canals and cities. Many came here as settlers and integrated themselves within the society quickly.
Today we have no jobs for immigrants, especially ones without an education. We stand to gain nothing by having a flood of immigrants moving in, packing themselves in apartments in Paterson and signing up for entitlement programs. Please explain to us how immigrants from Somalia and Syria are going to help this country? Just name 1.
Oh great. Now we have to pay reparations to the Blacks of Europe too.
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How much money do you think CNBC et al loses covering Senate hearings all day with no commercials?
BTW, did you know that Comey is 6’8″?
^^^^And supposedly has better stories than JJ. He definitely has better hair.
@JonBramnick 34m34 minutes ago
More
I will introduce bill requiring all members of the legislature to disclose their tax returns
Location, location, location!! The whole idea behind the ‘they ain’t making any more land’ philosophy is value. They aren’t making anymore valuable land, so it only goes up in value if the location is of value. Of course people like Schiller have to take it to the extreme and completely account for all land in his analysis to come to the conclusion that it’s not a worthy investment. Dude needs to understand it’s all about value which means location. Just like any other investment, it’s the ability to see undervalued opportunities and running with it. It’s not about just buying any piece of land….would you just buy any stock? You look for value(at least that’s what you tell yourself…luck is at play too).
That’s what is funny about the debate of what is the best investment vehicle; it’s what you know best and where you can find the best value. What works for one individual, doesn’t work for another.
In conclusion, Schiller can suck it. Investing in real estate can be very lucrative if you know what you are doing (and get lucky). Always have to throw in the luck factor because you need things to fall your way. Bad luck can derail an investment train real quick.
3b says:
March 19, 2017 at 7:51 pm
Also in the NY Times today an article by Robert schiller on real estate land as an investment and the old they ain’t making any more land. He is not impressed. Just saying.
Another great thing about Pumpkin’s highway home is that you can take your kids and dog 5 seconds down the road to play at the new radioactive dog park and playground.
Hahahahahahahaha
http://www.nj.com/passaic-county/index.ssf/2012/09/wayne_superfund_site_bill_pascrell.html
No need for personal venom, don’t like Pumpkin’s posts, just skip past them.
Pumpkin says Schiller can suck it! And ottoman is an expert on Irish immigration to America for the most part. But anyhow as the Irish would say the blog has gone mad!!
I do. He already owes my for 4 mouse scroll wheels that have worn out, and that’s just this year so far.
No need for personal venom, don’t like Pumpkin’s posts, just skip past them.
Should have said ottoman wrong on Irish immigration to America for the most part.
LOL, dummy. The Irish were never welcomed willingly by Americans until well into the 20th century. And they were certainly not “integrated within the society quickly” They were considered as low as Asians and Blacks and lived in more cramped and squalid conditions than Mexicans in Paterson do today. They were also considered unskilled back in their day and did slop work and the dangerous work real Americans refused to do. It was several generations before any of them actually did what was considered skilled labor like running machines. You’re a teacher? Questionable. You’re an idiot. Proven.
Uh huh. My great grandparents were Irish immigrants and my great great great grandparents were Asians that worked on a railroad. Regardless of the existing populations feelings towards immigration, there was a real need for the labor as the economy was poised to grow very much.
Fast forward to today. There’s about a 0% need for foreign labor at this point and it is purely used to lower wages, both at the local deli and the tech firm exploiting H1Bs.
Why don’t you tell us one single benefit this country will have from allowing mass immigration from Somalia and Syria. Give us just one positive.
Some of the first settlers in this country were of Irish descent. Many Irish fought in the civil war. Btw….fu
Howard Stern rightfully blamed the Irish famine on Great Britain who required the Irish to plant only a very weak mold resistant potato instead of a hearty variety that would have yielded normal crops during the potato famine. It’s no wonder the IRA was so pissed. THEY should pay the reparations. Not me!
“Why don’t you tell us one single benefit this country will have from allowing mass immigration from Somalia and Syria. Give us just one positive.”
I have no idea what Somalian’s eat, but I know that if you eat too many falafel balls, you end up with a fattoush.
re: “Many Irish fought in the civil war”
Yup on both sides up.
Steam not only that. But the land they played potatoes on was stolen from them and then owned by English lords who they paid rent to. I don’t do the whole victim thing it’s the past. But if everyone tells their tale of victim hood well than the Irish tale is up there with the rest of them.
Not like it sounds.
“DETROIT — About 50 men could be deported after they were caught during an immigration raid on a suspected cockfighting and illegal gambling operation in Detroit.”
https://www.washingtonpost.com/national/dozens-arrested-in-immigration-raid-during-detroit-cockfight/2017/03/20/b8a8fef6-0d94-11e7-aa57-2ca1b05c41b8_story.html?utm_term=.2a18d6e94b20
Put down your coffee and check out this link. SFW.
http://tinyurl.com/Pumpkins-dog
re: mass immigration
More c*ockfights?
“DETROIT — About 50 men could be deported after they were caught during an immigration raid on a suspected co*ckfighting and illegal gambling operation in Detroit.”
https://tinyurl.com/n3vh6r4
I’m Jewish. No one even knows that my people built the great pyramids of Egypt. Do you have any idea how hard it was to get Chinese takeout in the desert?
No joke the Irish serfs used to eat up to 60 potatoes every day.
Damn. Now I’m craving potatoes…
Baked potato with Irish butter and some salt and pepper! Mmm! Or lotsa brown gravy!
More on Immigration’s impact from 60 Minutes last night.
“60 Minutes” investigates how some businesses have fired American workers and replaced them with cheaper labor: temporary, foreign workers with H-1B visas
http://www.cbsnews.com/news/are-u-s-jobs-vulnerable-to-workers-with-h-1b-visas/
The following is a script from “You’re Fired,” which aired on March 19, 2017. Bill Whitaker is the correspondent. Sam Hornblower and Ira Rosen, producers.
Protecting American jobs was a signature theme of President Donald Trump’s “Make America Great Again” campaign. A frequent target of candidate Trump was the H-1B visa program. The program, created more than 25 years ago, allows American companies to fill gaps in the workforce from overseas with highly skilled employees, who can’t be found in the U.S. Many businesses use the program as intended, but we discovered more and more are taking advantage of loopholes in the law to fire American workers and replace them with younger, cheaper, temporary foreign workers with H-1B visas. But before the American workers walk out the door they often face the humiliating prospect of having to train the people taking their jobs.
But before the American workers walk out the door they often face the humiliating prospect of having to train the people taking their jobs.
I’d walk out the door and I don’t care if they threatened to withhold a severance package.
In front of me at Red Bank Starbucks the guy orders 5 shots of espresso.
‘In front of me at Red Bank Starbucks the guy orders 5 shots of espresso.’
Get a large Americano, much cheaper.
Better yet, at the Golden Arches, you can get any size coffee for a dollar and the lids are recyclable. Did you know that the you can’t recycle the Starbucks lid? More marketing to progressives.
I have no idea what Somalian’s eat, but I know that if you eat too many falafel balls, you end up with a fattoush.
I woulda conceded to Syrian food, but we already have the best at Al Basha in Paterson. One of my better friends is Palestinian immigrant from Jordan and even he thinks it’s ridiculous that people consider mass immigration from Syria a good thing. I wonder what the stats would look like if we surveyed the residents of Paterson on the issue.
Fast Eddie, you fool, you would never walk out. Why would you give up 2 years salary, 2 years of medical, vesting of 3 years worth or options, RSU’s, Trsus. on top of doing nothing for the last 6 months ?
2 years of severance salary
What I don’t get is that those IT guys at the UC hospital didn’t all threaten to walk out right away. If they do, the hospital is immediately non-functional. They had more power than they realized. If I was told to train my replacement for a severance packet, I would tell them to drop dead. Two things. 1. Have some self respect. 2. Real talented workers always land on their feet. That being said, shut down this H1B nonsense.
Build the $$%#¥@:( Wall already.
http://www.espn.com/nfl/story/_/id/18958516/tom-brady-stolen-super-bowl-jersey-found-possession-international-media-member
Oh, Canada!
I had thought, there can’t be that many people stupid enough to attend this, but I was very wrong – 15,000 people were there! I was blown away. Bubbles are largely psychological. This crowd was tangible proof of that. 15k people in one spot listening to Americans explain why real estate in Toronto is an exceptional investment. The whole experience was horrifying. The crowd was very well-dressed, middle- to upper-middle class (from appearances), and super excited to hear how much money could be made if you just buy real estate (most of them clearly already owned).
…
There are, apparently, two very important things to know when dealing with real estate. First, you have to face your fear; this fear is to be ignored and then you should ‘just do it’ and ‘buy now’. The next step is find what you can afford and then buy it. Ignore all ‘non-doers’, don’t overanalyze or focus on the numbers, just f.ucking buy. To allay fears the speakers are actually quite clever as they shift between a long to short term focus when it suits. For example, now is a great time to buy because short-term the market is on fire. If, however, markets cool then you just hold because it always goes up long-term – and you are a savvy long-term buyer, aren’t you? By showing no scenario where you can lose I can see how this pitch works on the susceptible.
The second important factor in real estate is financing. Not everyone has money, so what can they do? The answers were shocking. Be ‘creative’ was the first response. Pool your money, borrow from friends and family, own just 5% of a house, get the money however you can and just do it – remember, it only goes up. Other financing suggestions were get cozy with a lender and they will ‘bend the rules’ for you! The fact that the biggest condo developer in Canada (Brad Lamb) said lenders will bend (but not break, apparently) rules to get you financing in front of 15k people with most people smiling and nodding was shocking.
http://www.zerohedge.com/news/2017-03-20/i-attended-top-canadian-housing-market-so-you-dont-have
Original article:
https://onbeyondinvesting.com/blogs/blog/i-attended-the-top-of-the-canadian-housing-market-so-you-didnt-have-to