From the Otteau Group:
April MarketNEWS
NJ Home Sales Continue to Exhibit Strength
In March, the number of contract purchases by home buyers exceeded the same month in the prior year for the 31st consecutive month, reflecting a 10% increase over March 2016. Considering the 23% increase (y-o-y) in March of 2016, home sales have increased by 35% over the past 2 years. This latest gain was the highest number of purchase contracts recorded in the month of March of the past 12 years.
While the number of home sales occurring in New Jersey continue to rise, registering a 10% increase y-t-d, the largest gain has occurred for homes between $1.0-Million – $2.5-Million, which have increased by 20%. Home sales in excess of $2.5-Million have also been increasing for the first time in more than a decade. While it is still early in the year to draw any meaningful conclusions, there seems to be a correlation to improving economic indicators and consumer sentiment.
Shifting to the supply side of the equation, the supply of homes being offered for sale remains constricted, which is limiting choices for home buyers. The number of homes being offered for sale today in New Jersey has declined by nearly 8,700 (-17%) compared to one year ago. This is also about 32,000 (-43%) fewer homes on the market compared to the cyclical high in 2011. Today’s unsold inventory equates to 3.7 months of sales (non-seasonally adjusted), which is lower than one year ago when it was 4.9 months.
Currently, all of New Jersey’s 21 counties have less than 8.0 months of supply, which is a balance point for home prices. Hudson County continues to experience the strongest market conditions in the state with just 2.2 months of supply, followed by Essex, Middlesex, Union, Monmouth, Morris, Bergen, Passaic and Somerset Counties, which all have fewer than 3.5 months of supply. The counties with the largest amount of unsold inventory (6 months or greater) are concentrated in the southern portion of the state including Cumberland (6.1), Cape May (6.5), Salem (6.7) and Atlantic (7.2), however, these counties are also beginning to exhibit strengthening conditions.
Good Morning, Grim. Good Morning, Mike.
How about a little levity this morning? From Berzerkley, CA…
Breaking: Hazmat On Scene Where College Student May Have Been Exposed To Opposing Worldview
https://www.nytimes.com/2017/04/26/us/politics/supreme-court-naturalization.html?smid=fb-nytimes&smtyp=cur&_r=0
Quietest day ever on this blog….
So I was making this up?
“Shifting to the supply side of the equation, the supply of homes being offered for sale remains constricted, which is limiting choices for home buyers. “
And lurks is not me.
Don’t worry Pumpkin. I’ve been Lurking for over a year. I know most on the blog don’t listen to your words but instead try to demean your character.
To me (IMHO) you are the person in Plato’s Allegory that tries to explain the outside of the cave. Or in a more relatable sense, Christian Bale in “The Big Short”
People will ridicule ideas that begin to change what they’ve known to be true. Happened with civil rights, happened with Flat Earth and sun revolving around the Earth . I decided to announce my support because sometimes you need that to keep believing in your thoughts. Moreover, I think its just a young vs old way of thinking that creates this dissonance that results in personal insults.
They can think I’m you to feel better about their thoughts and thats ok. I just hope that one day they challenge their ideas.
What changed me at a young age was a Tommy Lee Jones’ quote in the first MIB.
“1,500 years ago, everybody knew that the Earth was the center of the universe. 500 years ago, everybody knew that the Earth was flat. And 15 minutes ago, you knew that humans were alone on this planet. Imagine what you’ll KNOW tomorrow.”
They KNOW you’re wrong, til the future proves otherwise and they rationalize their poor judgement.
I gotcha Pumps.
Pumps. Just stop it. How stupid do you think we are.
Seriously, this means a lot to me. I started to question my intelligence and thinking process a couple of times over the years spent debating here. It’s not easy being pumps and glad to finally have someone in my corner that sees the light.
Btw, nice write up and good breakdown.
“I decided to announce my support because sometimes you need that to keep believing in your thoughts. “
3b, think what you want. I don’t think you are stupid, but I will if you actually think I would use another name to support myself here. Took the heat for this long, why would I resort to that kind of behavior now? That would def make the claims of me “trolling” true, and I promise I’m not here to troll but spark valuable debate on the issues I focus on.
And as much as people claim to hate me…,admit that I make this blog more interesting. Come on, what other blog in America had a member yelling and screaming that wage inflation and real estate will return back in 2012/13? That makes this place special esp since I was dead on in my analysis. Calling the exact years we would start to see the tides turn. You know how valuable that information was for anyone that had the powder to act on it back then? And isn’t that what this blog is all about, trying to profit off of shared knowledge through debate? Man, you can make a killing if you listen to the posters on this blog. The only thing they have been wrong about is me. Everything else is pretty much dead on. Love this place.
Don’t worry. I’m the “Pumps” in my fantasy football leagues.
Nobody believed me in week 2 that Matt Ryan would finish as a top 5 Qb. They laughed and said he’d fail after week 6 like he did previous years……I also placed bets that the Patriots would win.
It’s hard to believe yourself when people are angrily convinced of their wrong thinking.
Then again, I wonder if the people here are only trying to get a rise out of you simply because it’s fun.
That would be Expat. Guy loves to get me going.
“Then again, I wonder if the people here are only trying to get a rise out of you simply because it’s fun.”
Lol…believe it or not, I’m a big fantasy football guy and kill it. I look at it like picking stocks, you need to understand herd mentality to find where the value is at. I consistently clear 3,000 or more every year. If there was not luck involved, no one would want to play with me because they would loss over and over again. Do the same with fantasy hockey, kill it. Fantasy hockey is easier than fantasy football for me at the moment because I can consistently win by drafting top d first few rds. That’s another key to fantasy, knowing what position will be scarce year to year and creating value from it. No idea why no one realizes how much more value a top d man brings, but I hope they keep making the same mistake.
You seem like you know your stuff. Think you abuse the expert rankings like myself. I love that everyone follows a stupid ranking list based on an “expert.” Lmao..too funny. Like taking candy from a baby. Too bad injuries bring that dumb luck factor into it.
I picked David Johnson with a no1 pick in one of my leagues last year. Should have heard how they busted my balks. Who’s laughing now, thanks for your money. I realized that wr’s had become totally overvalued, so focused on trying to get a top rb in the first rd. In one league, I landed Johnson at 7. Like taking candy from a baby.
Lol Sadly, you’re not helping the cause of us being separate people. I too view Fantasy Football like stocks. However, we differ in that I’m like the 2000-2004 Eagles. I have placed 3rd 3 years in row. 2 years due to injury of Andy Dalton and AJ Green. Luckily 3rd place gets entry fee back.
Oh and I’m not much of hockey fan, so there’s the other difference.
Lol…I have aj green in my keeper league. He is almost guaranteed to be on almost all my teams because of the disrespect he receives in the fantasy community making him an annual value…..sad, but that era is over. He will no longer be a value. Last year he started to go off the board as the 3rd or 4th receiver, so his value days are over. Have to wait for the expert rankings in June to start to gage who is a value this year. Maybe Keenan Allen. Have to wait and see.
Bama is collecting 400k per speech from Wall St now. Beside imbiciles like anon who didn’t see that criminality coming?
If the regular posters see this, they’ll think we’re married.
I hope Grim posts a new article (i assume he’s the owner of the blog) so we can see more RE news as it relates to NJ
I think that Lurks & Pumpkin have a serious – “The Skin I live in” problem – music please – https://youtu.be/7aZyEThH__4
or maybe one is in a well and this plays in the background https://youtu.be/XTs_TZFjbJ8
https://www.washingtonpost.com/graphics/business/wonk/housing/overview/?hpid=hp_hp-top-table-main_housing-divide%3Ahomepage%2Fstory
Down in DC after my exodus from Wall Street. Looking for some crush valor to screw some chick like a Kennedy.
Personalities,
That Goodbye Horses song makes me laugh everytime. Hilarious.
I never saw the movie of the other song though. 1/2 aint bad.
Wasn’t there a wrestling thing in DC within the last month?
Such greatness.
http://www.huffingtonpost.com/entry/trump-presidency-easier-twitter_us_5903d72de4b05c39767fabad
“All this information was cunningly concealed by being put in books and other forms of writing”
Hi,
I live in central Nj and I am amazed how expensive housing has gotten. Because of this website I did not buy in 09 and waited until 2012 to buy. I have been looking for a Multifamily for investment purposes and unfortunately I let a great deal go buy in 2015. I have been on the hunt since and I just see a bubble forming. House that are outdated with nothing to offer are going in the high 290 to 350. Same houses were 175/215 in 2012. Should I hold off I purchasing? I just don’t this this is being sustainable. Please assist me MR pumpkin with your view.
Please assist me MR pumpkin with your view.
Buy now or be priced out forever
So you agree with him that white people have a stronger work ethic than minorities and have in no way been advantaged by racism and institutionalized policies that support white supremacy, including when it comes to real estate. Says a lot about your character.
Lurks McGee says:
April 29, 2017 at 11:04 pm
Don’t worry Pumpkin. I’ve been Lurking for over a year. I know most on the blog don’t listen to your words but instead try to demean your character.
That map is remarkable in our area. West of 287 in North Jersey up very slightly or mostly down in pricing since 2004. Jersey City SFH pricing up 75% since 2004…an area where state taxes subsidize schools heavily.
JJ says:
April 30, 2017 at 6:22 pm
https://www.washingtonpost.com/graphics/business/wonk/housing/overview/?hpid=hp_hp-top-table-main_housing-divide%3Ahomepage%2Fstory
Down in DC after my exodus from Wall Street. Looking for some crush valor to screw some chick like a Kennedy.
@JohnJHarwood
Spicer says,
after conflicting signals yesterday,
that Trump tax plan would remove tax preferences for 401K retirement accounts
@JustinWolfers
This is not a tax plan.
Try figuring out what taxes you would pay based on it.
You can’t.
It the first post-modern reform.
Performance art.
Get a life. White supremacist? Really? Yes, I want to eliminate all other races from this planet. You have me all figured out.
Just because I question the work ethic and acceptance of education in the African community, it makes me a racist? You are right, can’t question some of their life choices, that will make me racist.
Look at this behavior over the past week? Are racist whites to blame for this behavior? Girl could have been killed, and over what? Sorry I don’t tolerate or accept this type of behavior. I will call out anyone acting like this. IT DOES NOT MAKE ME A RACIST BECAUSE I DON’T ACCEPT THIS TYPE OF BEHAVIOR. You can blame other races for this behavior or you can question why this happening. Hint: the quicker the African community stops blaming other races for their problems and instead focuses that energy on improvement through education, the quicker they will improve themselves. Yes, the white man did horrible things to the African race, but if you sit there and dwell on it forever, blaming all of your current life miseries on it, you will never get ahead. There are plenty of African Americans that have accepted what happened in the past, used it as motivation to improve their lot through education/hard work, and moved on to a much better life rather than sitting there having a pity party blaming their bad choices made in life on things that happened generations ago.
If this makes me a racist, you clearly don’t know what the word means.
http://www.nj.com/cumberland/index.ssf/2017/04/4_arrested_for_roles_in_brutal_beating_caught_on_v.html#incart_most-read_middlesex_article
Ottoman says:
May 1, 2017 at 7:41 am
So you agree with him that white people have a stronger work ethic than minorities and have in no way been advantaged by racism and institutionalized policies that support white supremacy, including when it comes to real estate. Says a lot about your character.
You know how I feel about the current market. We are only in the beginning stages of this next bubble. So we are currently not in a bubble in nj, but will be building up steam and heading towards that stage. So if you can find (key word-“find”)a multi-family that is in decent shape for the price (don’t expect a good deal either in a market in the beginning stages of the upward cycle), then go for it. The price will only rise in the next 8-12 years (demographic spending patterns say till end of 2020’s, but could crash earlier).
The north jersey rental market is on fire(no idea about central jersey, but north jersey is on fire), this will only drive up prices higher. It’s a very good time to be a landlord. In Clifton, rentals are going for 1500 or more for 2 bedrooms and it keeps going up because there is nothing available. It’s to the point where you hope your renter leaves so you can replace them with a much higher paying tenant.
Seems to all be coming together.
Joel says:
April 30, 2017 at 9:56 pm
Hi,
I live in central Nj and I am amazed how expensive housing has gotten. Because of this website I did not buy in 09 and waited until 2012 to buy. I have been looking for a Multifamily for investment purposes and unfortunately I let a great deal go buy in 2015. I have been on the hunt since and I just see a bubble forming. House that are outdated with nothing to offer are going in the high 290 to 350. Same houses were 175/215 in 2012. Should I hold off I purchasing? I just don’t this this is being sustainable. Please assist me MR pumpkin with your view.
And remember, this bubble can blow past the 2020’s into the 2030’s. Timing the top will be tough because it’s based on emotion as opposed to rational fundamentals, aka “markets can stay rational longer than you can stay solvent.” Just look at Canada, and how long that bubble has been going for. When will it crash? No one knows. No one tells you when the music stops in the game of musical chairs. It comes quick, and last man to hear the music stop ends up holding the bag.
You can call a bubble years in advance, but it’s almost impossible to know exactly when that bubble will pop. You will have an idea, but you can never fully predict emotional behavior which is what drives peak bubbles.
Good morning 2 Pumpkins.
Kid you not, I was told by a local architect in the know, that the dividing line of development in our state would be the 287 line. This was almost 10 years ago, and the advice has been dead on. I have stated this before on this blog, and it’s holding true.
D-FENS says:
May 1, 2017 at 8:01 am
That map is remarkable in our area. West of 287 in North Jersey up very slightly or mostly down in pricing since 2004. Jersey City SFH pricing up 75% since 2004…an area where state taxes subsidize schools heavily.
JJ says:
April 30, 2017 at 6:22 pm
https://www.washingtonpost.com/graphics/business/wonk/housing/overview/?hpid=hp_hp-top-table-main_housing-divide%3Ahomepage%2Fstory
Down in DC after my exodus from Wall Street. Looking for some crush valor to screw some chick like a Kennedy.
Sybil-pumpkin. I wonder if the various personalities know each other. Pumps is the wiener and Lurks is his right hand. Is there a female split personality in the mix as well?
Good morning Steam! lol
On a separate note, the racial aspect to prosperity is a in interesting one.
Its a thin line to walk but I’ll try.
Being disadvantaged systematically has rippling effects that last for YEARS on a whole. Lets say 3 kids from a median income family grow up and live their lives. Kid A goes on to be well off, Kid B earns similar to the parents, and Kid C goofs off and becomes a dud in earnings and Kid D also earns similar to the parents. If each of THOSE kids have children, pretty sure that Kid C’s children will more than likely end up as black sheep of the family for a maybe two more generations until they get one that earns like Kid A did. Lets call them Kid S
Kid S could have either been like the rest of his immediate familial peers because that’s all he knows OR he could have been exposed to better ways. Unfortunately, the odds are against him for success. He was born into it. Doesn’t mean that he CAN’T do well, but his climb to the top is MUCH harder than the rest since he has to fight his own ambition AND his environment.
To relate this, I’d say that African Americans are the by-product of Kid C disadvantages from terrible things that happened. While pitying yourself won’t do any good towards achieving better, you can’t negate that the climb is indeed harder (unjustly) and will take time for Kid S to reverse the years of generational difficulties.
Maybe its not clear, but that’s my take.
One other thing (before you guys pick my viewpoint apart)
When earnings have that type of generational head-start, its like expecting a person that starts their 401k contributions at 20 years old vs 40 years old. Sure they could both have decent retirements and make some amazing decisions, but that 40 year old is going to have a tough time reaching the earnings that time/interest has been able to give the 20 year old. They’d need ridiculous returns over the next 25 years vs moderate returns that the 20 year old could have expected.
(I’m not factoring in markets climbing and crashing in that 20 year gap between the two)
Yesterday and it looks like today as well was the most bizarre day or days I have ever witnessed on this blog.
I think it all kicked off when fake Grim said he was related to The Great Blumpkin. Since then, it’s been like an Escher illustration with Pumps on one perspective and Lurks McGee on the other. On the bright side, Moana has mainly been out fishing.
Stu forgot about fake grim! The 2 pumps are nut even trying to hide it this morning. And I must have missed something who is Mona?
The comments section reminds me of Eric Cartman’s tea party:
http://southpark.cc.com/clips/103369/erics-tea-party
Moana is the new name assigned to Anon. He apparently felt the need to stay in a Disney resort in Hawaii which I think is the most hokey move ever. I’ve spent a lot of time in the islands and there is so much to do and see that I find it incredulous to waste one’s money and time on Goofy and Mickey when you could probably spend 365 days a year discovering new things to see and do in Hawaii. Whenever we go, there’s never enough time to even see what we want on one island, let alone the 5 primary.
Speaking of Hawaii,
How would you suggest organizing a 5 to 7 day trip? For 3 generations.
Clearly I should have stayed Lurking…….
Good write up lurks. My perspective, life is not fair and it will never be fair. You can sit there and have a pity party, or do something about it. I wish everyone could have “good parents,” but unfortunately there is nothing we can do about that. There is simply no way to have everyone start off on the same line under the same conditions, life is too random for that to ever be achieved. It is a huge mountain to overcome, I know from personal experience, but you push and push to improve your lot in life.
“To relate this, I’d say that African Americans are the by-product of Kid C disadvantages from terrible things that happened. While pitying yourself won’t do any good towards achieving better, you can’t negate that the climb is indeed harder (unjustly) and will take time for Kid S to reverse the years of generational difficulties.”
Don’t let them get to you, you definitely provide a value with your posts.
LurksMcGee says:
May 1, 2017 at 9:53 am
Clearly I should have stayed Lurking…….
Bizarre because someone actually can handle different perspectives of the likes like Pumpkin? Give it a try, might be good for you.
3b says:
May 1, 2017 at 9:17 am
Yesterday and it looks like today as well was the most bizarre day or days I have ever witnessed on this blog
I pine for the days of BC Bob, Clot and the like. I miss Joyce as well.
Me too.
The Highlands Act (passed in 2004)
The Great Pumpkin says:
May 1, 2017 at 9:07 am
Kid you not, I was told by a local architect in the know, that the dividing line of development in our state would be the 287 line. This was almost 10 years ago, and the advice has been dead on. I have stated this before on this blog, and it’s holding true.
Thanks, I know its not the best way to explain my thoughts, but happy you were able to follow along.
Fast/Stu me too. That is when we had some real critical thinking posts of you will. Now it’s turned into blizzard land.
3b, you enjoy people like clot because you associate with their pt of view. You are a doom and gloomer, hence, until I start calling for a bust, you will not agree with me. You are unable to take an optimist pt of view.
Ever notice how every single poster that you miss left this blog after the doom and gloom was over? They could not take an optimist view like Pumpkin, and when they finally realized I was right, they moved on. Clot is still waiting for it all to crash, dreaming about random groups of survivors roaming the country side.
3b says:
May 1, 2017 at 11:32 am
Fast/Stu me too. That is when we had some real critical thinking posts of you will. Now it’s turned into blizzard land.
Where did clot and joyce go? Depressing.
Also, who was it that lived down the shore all year. Some people on here used to stop by his place, good poster.
“Grab them by the puzzy says:”
Yawn.
“Ever notice how every single poster that you miss left this blog after the doom and gloom was over?”
Hmmmm, I can think of a different correlation with a higher R-squared.
I would argue that the Parrot and his sidekick Blumpkin Pie is what you are getting at. I have no issue with Footstool and FlabMax as they have some original thought and can actually articulate their viewpoints. But the former are why most social sites allow blocking/ignoring of posts. Either way, this place still has some value, be it comedic or recommendations. We all now housing is like an aircraft carrier. It’s very slow to change direction. But it always will as sure as the tide.
Know…not now. Sorry.
@DavidFrum
The punchline is not the Jackson comment,
but Trump’s self congratulation on being 1st to ask why the Civil War had to happen
@BessBell
I’d be more surprised if Trump had a coherent,
informed answer to a basic question about American history.
As for higher R-squared, I concur. Plus I mastered Beta.
Pumps my last comment to you. I don’t know why the others left save to say perhaps they got tired of you and your one man or should I say two man show. As for me. Doom and gloom? No. Just reality. I have always maintained that the fed intervention stopped the housing market from its full correction. If and when rates rise that correction will continue. As for my blue ribbon train town prices are pretty much flat over the last ten years. So that speaks for itself. You and your alter ego can live in your fantasy land. The two of you appear very happy there.
Tired of me? They called me an idiot for years only to be proven wrong. They could not face reality that someone they considered intellectually inferior to them was right and was teaching them something. Just imagine if I claimed real estate was done for a 100 years and that we would all be wandering the country side as scavengers, you guys would blast me to no end, but for some reason clot was allowed to spew this nonsense with not one of you bashing him for his crazy talk.
Pumps claims that real estate is not dead and that the labor market will pick itself up again and I become the most hated individual on this blog.
And you are a doom and gloomer, you look at the glass half empty as opposed to half full. You look at what is wrong with things as opposed to what is right. Nothing wrong with that, but understand that you are pessimist.
3b says:
May 1, 2017 at 12:58 pm
Pumps my last comment to you. I don’t know why the others left save to say perhaps they got tired of you and your one man or should I say two man show. As for me. Doom and gloom? No. Just reality.
Real Estate prices in Wayne are down 2% according to the data in the article JJ posted. How does that make you right Michael?
3B
I actually agree that the Fed stepped in to prevent a full correction. However, I think the opportunity for a full correction has passed. Even with things being flat for now, they’ll eventually change. If/when wages increase, home prices will rise. And after a while, there will be a bubble and the new “low” will be 2007 “highs”.
I take this belief because we’ve already seen home prices climb ridiculously from the 80’s as interest rates rose and fell. I don’t think increased interest rates will come WITHOUT an increase in wages. Until then, we’ll be slow growing and relatively flat.
And how much were they down at one point? Price has gone up. I’m right because prices indeed rose and didn’t crash like was claimed by the fast eddies and clots of the blog.
D-FENS says:
May 1, 2017 at 1:43 pm
Real Estate prices in Wayne are down 2% according to the data in the article JJ posted. How does that make you right Michael?
* have risen
*has been raised …..third time is a charm….my grammar is terrible.
Oh jeez. It looks like Pumpandcantdumpit has gone full-blown Sybil.
I’m terrible when it comes to grammar. Go ahead, let me have it. I deserve it. Totally messed this up on every try.
Guys, do you believe me now when I said (S)he is a fake poster?
Who is the fake poster? LeBron dunking on Jordan?
Fast I think he is real. I know everything he posts is indicative of him being fake. That being said this latest episode is bizarre and I am going to ignore him going forward. Its best.
At least he knew I was real.
The coal play that I tossed out (ARLP) had an 8% jump today. Future looks great. 8% yield. I’m earning 20% on my original investment last year in dividends alone. Remind me again why I would “invest” in real estate at this time?
Because with stocks, you only make money when you sell. Otherwise, it’s only paper. No paper write-offs (i.e depreciation) on dividends, either. That’s if the stock even pays dividends.
Because with stocks, you only make money when you sell.
Huh? It produces dividends. And set to ‘reinvest’ and you’re buying more stock automatically. And then, there’s the stock splits. It’s an exponential investment. I don’t get what you’re saying.
Follow the demographic pattern of what happens in a democratic based govt when one group is much larger than the other groups (meaning when one group has more voting power than the rest). Thank you, boomers!
“The simplicity of the boomer agenda amplified the considerable power of boomer votes, while clarifying otherwise complex issues, especially of benefits and taxes. Benefits, at least for the boomer middle class, were to be expanded — period. Taxes, for the same group, would be cut or reallocated. This dynamic illuminates otherwise inexplicable deviations from orthodoxy practiced by a machine supposedly seized by ideological gridlock. It explains why Reagan lowered taxes on income while raising them on capital gains (when boomers had salaries but not portfolios), why Bill Clinton lowered taxes on houses and stocks (when boomers owned those in quantity), and why Bush II cut taxes with unseemly attention lavished on the “death tax” (just as the boomers’ parents neared expiration) while embracing the largest expansion in welfare since the 1960s (Medicare Part D, in time to benefit aging boomers). The machine works, at least from the boomer perspective.
All these giveaways had consequences. The rich got richer, as we know, but the rich are old. That is, they’re boomers. The patterns of general boomer gains mirrored those of the very wealthy. From 1989 to 2013, wealth gaps between older and younger households grew in the same way as those between the top 5 percent and the bottom 95 percent. Today’s seniors (boomers) are much wealthier relative to the present young than the seniors of the 1980s were to then-young boomers. All those tax breaks, bailouts, easy money, deregulation, and the bubbles they spawned supported that boomer wealth accumulation while shifting the true costs to the future, to the young.
Still, no amount of tax reallocation could keep the government together and goodies flowing, so boomers tolerated astounding debt expansion while chopping other parts of the budget. Gross national debt, 35 percent of GDP when the boomers came of age, is now 105 percent, a peacetime record expanding 3 percent annually, forever. But this understates the problem, because not only does the family farm have a giant mortgage, it also desperately needs repair and modernization.
Unfortunately, boomers show no appetite for maintaining the assets their parents accumulated. Public higher education, nearly free for boomers, has become dauntingly expensive. Infrastructure is neither built nor maintained, and not even “responsible” boomers take this seriously. It was then-candidates John McCain and Hillary Clinton, those paragons of boomer probity, who proposed a gas-tax holiday in 2008, the year the Highway Trust Fund went bust. Federal research and development funding also suffered, with dispiriting consequences for the future. Smartphones may be fairly recent, but their core technologies were developed with government money long ago. Enjoy your iPhone now, because your iCopter and iKidney will be indefinitely delayed.
The consequences of boomer overconsumption, underinvestment, and appetite for risk reveal themselves every time a bridge or bank collapses, but can be summarized in America’s prolonged economic mediocrity. Finding decent growth requires stretching all the way back to the 1990s, and even so, the 1990s barely edged out 1970s’ squalor on a per capita GDP basis. Thanks to boomer policies, the new normal is 1.6 percent real growth, well below the 2.5 to 3.5 percent rates prevailing from the 1950s to the 1980s. For the young, the price will be incomes 30 percent to 50 percent lower than they could have been.”
https://www.bostonglobe.com/ideas/2017/02/26/how-baby-boomers-destroyed-everything/lVB9eG5mATw3wxo6XmDZFL/story.html
Fast Eddie, I think he is implying that you didn’t make a dollar till you sell. Real estate is the equivalent of killing by a thousand cuts, you make your money through rent, tax benefits, and appreciation. Stocks, money is made on the buy and sell, so to kill, it’s a headshot or nothing.
the laziest generation
The Great Pumpkin says:
May 1, 2017 at 5:12 pm
Follow the demographic pattern of what happens in a democratic based govt when one group is much larger than the other groups (meaning when one group has more voting power than the rest). Thank you, boomers!
@NYTMetro
Michael Moore is bringing a one-man show about President Trump to Broadway this summer
Not saying I agree with this, but it certainly is a possibility.
https://www.forbes.com/sites/drewhansen/2016/02/09/unless-it-changes-capitalism-will-starve-humanity-by-2050/#6e33dda07ccc
@NPR
Trump pondered why more people don’t ask “why was there the Civil War?”
People have asked that regularly since 1861.
@ChelseaClinton
1 word answer: Slavery.
Longer: When Andrew Jackson died in 1845 (16 yrs before the Civil War began),
he owned 150 men, women and children.
I saw clot entering an injection house in Ithaca last month……it terms of shore people, you are either referring to NJ Coast who lurks often and posts occasionally, or else Shore Guy, who lurks even less often and seldom if ever posts……..NJ Coast is a Monmouth County caterer, and I think covers a lot of the shows at Count Basie. Shore guy is an operative relatively high up in the Republican Party…..anyone who know better please correct …..
leftwing says:
May 1, 2017 at 12:09 pm
Where did clot and joyce go? Depressing.
Also, who was it that lived down the shore all year. Some people on here used to stop by his place, good poster.
Slavery is the simple answer, battle of economics is the complicated answer and more closer to the truth.
“The line works.”
“So does ‘How ’bout dem Cowboys?’ when you’re playing a club in Dallas.”
https://youtu.be/716qbOv3a4M
How brave of him to take such a sensitive viewpoint into territory so hostile to it.
The left are such cowards.
Well we should all know that the civil war was never about ending slavery originally. I mean right we know that? And we also know that Lincoln was ambivalent about slavery right? We also know that he was a big supporter of freed slaves being resettled in Africa right? So hopefully we don’t believe that we fought the civil war to end slavery? Right?
Because with stocks, you only make money when you sell. Otherwise, it’s only paper. No paper write-offs (i.e depreciation) on dividends, either. That’s if the stock even pays dividends.
You’re right, the 20% deposited into my account last year is fictitious. It’s dividend is even going to increase.
Fast Eddie, I think he is implying that you didn’t make a dollar till you sell. Real estate is the equivalent of killing by a thousand cuts, you make your money through rent, tax benefits, and appreciation. Stocks, money is made on the buy and sell, so to kill, it’s a headshot or nothing.
I didn’t realize the concept of a dividend was so hard to grasp.
Love my dividends! Sure looks like money to me!!
@NPR
Trump pondered why more people don’t ask “why was there the Civil War?”
People have asked that regularly since 1861.
@ChelseaClinton
1 word answer: Slavery.
Funny how every other nation managed to end slavery without going to war.
The other countries did not have slaves in their own countries but rather in their colonies. Big difference. We could have let the south go and slavery may have eventually died out in the south. The civil war was about saving the union. We didn’t really care about slavery as the south still oppressed the freed Black slaves after their so called freedom.
3b, the civil war was faught over the difference in vision between the southern and northern economic engines. South wanted to maintain agrarian plantation based model and north wanted to industrialize. Taking away slaves was always meant to be used as a tool to take out the southern economic model.
“The Civil War has been something of an enigma for scholars studying American history. During the first half of the twentieth century, historians viewed the war as a major turning point in American economic history. Charles Beard labeled it “Second American Revolution,” claiming that “at bottom the so-called Civil War – was a social war, ending in the unquestioned establishment of a new power in the government, making vast changes – in the course of industrial development, and in the constitution inherited from the Fathers” (Beard and Beard 1927: 53). By the time of the Second World War, Louis Hacker could sum up Beard’s position by simply stating that the war’s “striking achievement was the triumph of industrial capitalism” (Hacker 1940: 373). The “Beard-Hacker Thesis” had become the most widely accepted interpretation of the economic impact of the Civil War. Harold Faulkner devoted two chapters to a discussion of the causes and consequences of the war in his 1943 textbook American Economic History (which was then in its fifth edition), claiming that “its effects upon our industrial, financial, and commercial history were profound” (1943: 340).”
Think you both misunderstood his implication in his post.
Blue Ribbon Teacher says:
May 1, 2017 at 8:36 pm
Fast Eddie, I think he is implying that you didn’t make a dollar till you sell. Real estate is the equivalent of killing by a thousand cuts, you make your money through rent, tax benefits, and appreciation. Stocks, money is made on the buy and sell, so to kill, it’s a headshot or nothing.
I didn’t realize the concept of a dividend was so hard to grasp.
http://www.nj.com/entertainment/index.ssf/2017/05/stevens_estate_bernardsville_millicent_fenwick.html