From the Star Ledger:
Recent college grads are leaving N.J. in record numbers. Here’s why.
The bed is on an elevated bunk. Below the bed is a desk, dressed with items from college: clothes, books and accessories. The floor is barely visible beneath a slew of still-stuffed bags of clothes.
In 2016, Dina Bardakh, 23, uprooted her life from Hunter College, along with the degree in political science she received, and plopped down inside the 273-square-foot room of her mother’s two-bedroom modest apartment alongside the Hudson River.
…
“I never unpacked,” Bardakh explains. “I never imagined myself back here for as long as I have been. So, what do you do then?”Bardakh is not the only one asking that question. As another college graduation season comes to an end, and a whole new set of millennials enter the job market, the prospect of recent graduates simply moving out of their parents’ homes is dimmer than ever. According to Census data, 47 percent of 18-to-34-year-olds in New Jersey were still living with their parents in 2015, the highest rate in the country.
The situation shows little sign of improving, either: Data released earlier this month by the National Low Income Housing Coalition says tenants need to make $27.31 an hour, the seventh highest in the country, to afford the average two-bedroom apartment in New Jersey. That makes it virtually impossible for someone making an entry-level salary to afford his or her own place, at least not without teaming up with multiple roommates and/or forgoing other necessities.
Meanwhile, higher education funding has dropped nationwide, including 23 percent in New Jersey from 2008 to 2015. The resulting increased student debt is also keeping many recent grads stuck in their parents’ places.
“It is sort of unprecedented, we would have to go back generations, to come to this situation where grown children live at home to the extent that they are today,” said Dr. James Hughes, dean of the Edward J. Bloustein School of Planning and Public Policy at Rutgers University.
In recent years, many frustrated college graduates are giving up the promise of adult life in the New York-New Jersey area altogether. According to the 2007-2014 American Community Survey, 111,674 people age 18-34 moved out of New Jersey, the highest number for an age group in the state.
“I was really hopeful when I started going to college,” Bardakh said. “It was New York City, the capital of the world. I thought there was going to be so many opportunities.”
…
According to Hughes, the downward trajectory began with the financial crisis of 2008, the repercussions of which are still being felt by young people.“That set back many millennials in their economic progression or career trajectory,” he said. “They may have been unemployed for awhile, under employed or coming out of college. They lost several years of earning growth power during that time period.”
This also means young people just getting out of college find themselves this spring now competing for entry-level jobs with people who graduated years earlier.
McKoy said the Garden State is facing an even harsher burden than most states.
“This is definitely a nationwide issue, but New Jersey is a little bit more drastic because it is a very, very expensive place to live, and this is happening at a time where wages are pretty much stagnant and most people in that age range, especially on the lower half, would be working around minimum wage jobs,” he said.
And, says Hughes, “when you have such a powerful trend such as this, there are no silver bullets to change it. At best, some policies could deflect it slightly.”
Good Morning New Jersey
From CNBC:
Reason to refinance: 4 million homeowners are leaving $1 billion on the table
Falling mortgage rates and rising home values are a tasty combination for homeowners looking to save some cash on their monthly mortgage payments. Millions, however, are not biting, either out of ignorance or because refinancing is a hassle.
Close to 4.5 million borrowers are eligible and have a financial incentive to refinance, according to a new report from Black Knight Financial Services. That marks an increase of 1.6 million borrowers from just a few months ago, when mortgage rates were higher. The new “refinanceable” population is now at its highest point of the year. The math factors in closing costs.
At today’s rates, the average borrower could save $260 a month, or an aggregate savings of $1.1 billion for all of those borrowers. Nearly 700,000 borrowers could save $400 or more per month. To be sure, mortgage applications to refinance have been rising over the past month, up about 9 percent, according to the Mortgage Bankers Association (MBA).
“The recent pause in the upward movement of interest rates continues to encourage late-to-the-game borrowers to refinance,” noted Lynn Fisher, MBA’s vice president of research and economics.
Political science degree. What is the standard career path for someone with that?
Law school.
I also know 99% of the species on this planet are now extinct. We would be wise to learn about the changes and how we can control/adapt to them. Don’t you agree?
“Anyone who seriously understands science would understand that no matter what happens, life adapts. This planet survived many mass extinctions only to repopulate it with new species.”
Nothing to see here, right?
“Global warming can affect sea levels, coastlines, ocean acidification, ocean currents, seawater, sea surface temperatures,[1] tides, the sea floor, weather, and trigger several changes in ocean bio-geochemistry; all of these affect the functioning of a society.[2]”
“Another effect of global warming on the carbon cycle is ocean acidification. The ocean and the atmosphere constantly act to maintain a state of equilibrium, so a rise in atmospheric carbon naturally leads to a rise in oceanic carbon. When carbon is dissolved in water it forms hydrogen and bicarbonate ions, which in turn breaks down to hydrogen and carbonate ions.[29] All these extra hydrogen ions increase the acidity of the ocean and make survival harder for planktonic organisms that depend on calcium carbonate to form their shells. A decrease in the base of the food chain will, once again, be destructive to the ecosystems to which they belong. With fewer of these photosynthetic organisms present at the surface of the ocean, less carbon will be converted to oxygen, thereby allowing the greenhouse gasses to go unchecked.
The effects of ocean acidification can already be seen and have been happening since the start of the industrial revolution, with pH levels of the ocean dropping by 0.1 since the pre-industrial revolution times.[30] An effect called coral bleaching can be seen on the Great Barrier Reef in Australia, where ocean acidification’s effects are already taking place. Coral bleaching is when unicellular organisms that help make up the coral begin to die off and leave the coral giving it a white appearance.[31] These unicellular organisms are important for the coral to feed and get the proper nutrition that is necessary to survive, leaving the coral weak and malnourished. This results in weaker coral that can die more easily and offer less protection to the organisms that depend on coral for shelter and protection. Increased acidity can also dissolve an organism’s shell, threatening entire groups of shellfish and zooplankton and in turn, presenting a threat to the food chain and ecosystem.
Without strong shells, surviving and growing becomes more of a challenge for marine life that depend on calcified shells. The populations of these animals becomes smaller and individual members of the species turn weaker. The fish that rely on these smaller shell constructing animals for food now have a decreased supply, and animals that need coral reefs for shelter now have less protection. The effects of ocean acidification decrease population sizes of marine life and may cause an economic disruption if enough fish die off, which can seriously harm the global economy as the fishing industry makes a lot of money worldwide.
Steps are being taken to combat the potentially devastating effects of ocean acidification, and scientists worldwide are coming together to solve the problem that is known as “global warming’s evil twin”.”
https://en.wikipedia.org/wiki/Effects_of_global_warming_on_oceans
The Original NJ ExPat says:
June 26, 2017 at 1:19 am
BRT – You answered a stupid pumpkin post that I resisted. The first think wrong it with is premise is in the first two words, I think, which apparently is genetically impossible for the gourd.
Second, the rest of his premise is just utter bs. The ocean is 3/4 of the earth’s surface and given the depth compared to the highest land elevations, it is pretty much impervious to any type of man-made change except from rising in height. Dickweed doesn’t get that bee die-off is a greater threat to food supply than any pH change in the ocean, which is almost impossible unless we have a direct meteor strike or super volcano eruption. He’s so stupid I think hid Dad got himself convicted and deported on purpose.
Who cares, right expat? What will all that money(profit) do when the ecosystem that we survive on is destroyed? Most likely that will signal our species end at one point or another. We need this ecosystem to survive, we don’t know if we can survive in another.
“threatening entire groups of shellfish and zooplankton and in turn, presenting a threat to the food chain and ecosystem.”
No one at one time a poly sci degree or history or English opened lots of different avenues. That person in the above article could have just as easy been an accounting degree or finance biology or a law degree.
Pumpkin – your carbon footprint alone is probably 4 tons of C02 annually, and you make zero effort to reduce it, so stop your caterwauling.
Yes, but business has to provide the consumer with options. That’s the whole point of this movement, to create options so we don’t have to rely on the old way of doing it. The old way is suicide, plain and simple. We can not maintain this civilization based on fossil fuels to infinity. The quicker we switch, the better chance at long term survival.
Juice Box says:
June 26, 2017 at 9:13 am
Pumpkin – your carbon footprint alone is probably 4 tons of C02 annually, and you make zero effort to reduce it, so stop your caterwauling.
Man, was he on point about our “democracy.”
“The oppressed are allowed once every few years to decide which particular representatives of the oppressing class are to represent and repress them.” (Karl Marx)
It’s the like the two party system is the ultimate form of control. Limit the options, so that you can have total control of the narrative. If you give people 3 or 5 options, then it becomes much more difficult to control. Let’s sum it up like this; If Stalin ran for President under the Democrats and Hitler for the Republicans, both would be supported by their “teams” from both parties. Here in lies the problem with the two party system used to divide the nation and represent nothing but the power of the elite over our lives.
I also know 99% of the species on this planet are now extinct. We would be wise to learn about the changes and how we can control/adapt to them. Don’t you agree?
No, species are supposed to go extinct and new species are supposed to arise. What’s the matter, do you not believe in evolution?
The United States is not a Democracy. It’s a constitutional Republic.
Finally! Crooks!
http://jerseytribune.com/2017/06/26/lakewood-rabbi-7-others-arrested-in-raids-over-alleged-welfare-fraud-report-says/
We can not maintain this civilization based on fossil fuels to infinity.
Then, tell your ilk to stop fighting nuclear power.
So we are supposed to just go without a fight? F that, I will fight to survive.
“No, species are supposed to go extinct and new species are supposed to arise. What’s the matter, do you not believe in evolution?”
Resist Michael….Resist
Comment from a zero-hedge article I thought was worth sharing. Pretty on point.
“With all respect to Julian Assange, this article is completely off-base. The “identity politics” of the Democratic Party are its members beliefs, not a “tactic” to win votes. Black Lives Matter and the other radical black groups are not attempting to engage in a reasoned political dialogue. They are a radical, anti-establishment, anti-white neo-Nazi group who claims that they there is some special “power” inherent in their “race.”
The LGBT caucus and their “pride” marches are not a part of some “short-term political tactic” to construct a more inclusive party. They are an anti-Christian group that seeks to abolish the religion of 200 million of their fellow citizens. They are not demanding their “rights” to indulge whatever passions consume them. No one ever seriously attempted to deny them the capacity to gratify themselves sexually. They are demanding totalitarian control of the culture. They are demanding that other people condone and applaud their sexual conduct, lest they feel unformfortable. They demand that Christians must change their religious beleifs, their private thoughts, conscience, morals, and personal convictions so that “queers” can feel “proud” of indulging carnal lusts. What is more, they want the state to enforce this new private morality by the power of the police and the courts.
The Feminist movement is not attempting to have a discussion about what is in the best interests of the polity or the nation. They are concerned, first, foremost, and only, with passing the responsibilty of parenthood to the state so that they may be as sexually licentious as they please without losing the capacity to generate income by having to deal with the consequences of their sexuality. This is fundamentally incompatible with the laws of nature, and to justify their position, they go so far as to deny the existence of nature itself. Their attempt to confound nature by drawing ridiculous distinctions between “gender” and “sexuality” and claiming that “gender” has no relation to sexuality denies reality. Because their desires do not account for reality, their political position is absurd. Political entities cannot “raise” human children. The human being is dependent on its parents for an extended period of time. Human beings cannot be conducted properly into socity without the careful nurturing and discipline that nuclear families provide.
These groups are the Democratic Party. They learned and embraced these beliefs in university and propogate them via the media.They have no interest in including “white males” or anyone married to a white male in their political party, because their party has only one unifying characteristic; “we hate white heterosexual males and the Christian religion.” Why else would they embrace Shariah Islam as a fellow-traveler? Because it is not white, and it is not Christian.”
So we are supposed to just go without a fight? F that, I will fight to survive.
“No, species are supposed to go extinct and new species are supposed to arise. What’s the matter, do you not believe in evolution?”
Your seem to think you even have to fight to survive, that’s your problem.
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I have no problem with the whole LGT thing. Who cares? If that’s their thing. The B thing I don’t understand. Who exactly is discriminating against B s. Any how and why would anyone even know?? Just saying.
3B: The other thing about the BTGQ …not the L obviously …. is why the negative Trump rhetoric? ……he has done nothing specific to them, and in many ways is tolerant and accepting, especially given the Ivanka/Jared influence……. it is almost as if they protest Trump out of sheer reflex…… it really doesn’t make a heck of a lot of sense…..
Chgo in fact I would say that trump is more socially liberal than many republicans. The left just has to vilify him right or wrong. And he is wrong a lot but at a minimum they should focus on what he is legitimately doing wrong. I have not heard him say one negative things about the l g b t etc community.
This stuff about millennial. Well right now I’m in south west New Mexico in a college orientation with niece. Why I’m here. Because family wants out of Jerzy.
Second thing I found out. Few students want to study Entomology and agricultural bu control.
Frankly. It’s quite nice here. It roads. No traffic and 75mph speed limit.
This stuff about millennial. Well right now I’m in south west New Mexico in a college orientation with niece. Why I’m here. Because family wants out of Jerzy.
Second thing I found out. Few students want to study Entomology and agricultural bu control.
Frankly. It’s quite nice here. It roads. No traffic and 75mph speed limit.
You’d think L G B T Q would be more at home as libertarians….(the hippies of the right).
https://twitter.com/search?q=%23gaysforTrump
Man, I wish all the people that want out of jersey would pick up and leave already. Only thing you are doing is driving up the costs on everyone that wants to be here.
https://www.bloomberg.com/view/articles/2017-06-26/hot-rhetoric-is-ok-for-liberals-and-for-me
Pumps put in solar, do a geothermal heatpump, ride your bicycle, staycation instead of flying. Those options exist, you simply are a hypocrite of the highest order.
blue ribbon 10:14-
Pebble bed nuclear reactors. Badass power generators, and safe.
Jerry 11:37-
I hear you can get a nice price if you buy meth there in bulk, too.
it is almost as if they protest Trump out of sheer reflex…… it really doesn’t make a heck of a lot of sense…..
They’re angry, lashing out with similar minds because it gives them a sense of worth. Look at the ones on the left who post here. I feel sorry for them actually. They’re lost. The democrat party is in name only. It represents nothing of the past or else I might consider voting for them. It’s just a bunch of freaks that support the left.
Seems like the resident Pangloss (punkinhead) has put down roots here. Like a weed tree.
An article in the Bergen record today about millennial s with children staying in the city. North Jersey.com for those who care. Oh and just saying.
Clot.
Regarding crystal buying in bulk here is not my thing. I’m more south Florida yeyo. Is an 80’s thing of mine. But I’m sure the pumpkin can get his psychotic meds cheaper here near the border.
I thought they were living in their parent’s basements?
3b says:
June 26, 2017 at 1:18 pm
An article in the Bergen record today about millennial s with children staying in the city. North Jersey.com for those who care. Oh and just saying.
3b,
Each house that gets sold in my neighborhood since I’ve been here is a young family. They all have little kids. My neighbor owns a restaurant in town and remarked recently on the slew of young families moving in here. I agree. I ride my bike around these streets and it’s kids everywhere.
High School Graduation (clot Edition):
https://www.youtube.com/watch?v=mOe5GJn7ODs
Pumps’ bicycle is the one without a seat and just a big ol’ seat post on it.
Fast I don’t argue that. I simply point out that there are more than a few who are staying in the city and for some it looks permanent. These are the people who should make the traditional flight to the suburbs. When my kids were little my wife was home. Those days for the most part are gone. Two people getting home between 6 30 and 7 00 every night is no fun. City living eliminates that. It really is different today much more than a cyclical thing in my opinion.
creepy
Stuck in Jerzy says:
June 26, 2017 at 11:36 am
I’m in south west New Mexico….. with niece.
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My BIL has a political science degree from Syracuse, probably class of ’87 or so. He has never made over $35K a year and currently works as a manager in a college cafeteria which came after managing the food counter at Target, and managing a Papa Gino’s before that and working in hotel catering for a zillion years before that. His wife, my wife’s sister, left Syracuse at the same time as him, 3 or 6 credits short of graduating and never did. After many decades of not working she now stocks shelves at a supermarket.
Oh yeah, my BIL, maybe 5 years ago, finished getting his master’s degree. A master’s degree in divinity. Maybe it helps him keep from cursing more while he works in the college cafeteria?
My SIL and her hubby went to Syracuse when it was only about $20K per year. Not too much return on $320K of college expenses I’d say. I’m not sure about whether the BIL took out college loans but my in-laws paid full boat cash for my SIL.
Unfortunately, my SIL’s supermarket job got her kicked off food stamps.
Whoops. $160K of dollars to Syracuse, not $320K.
Most people will get this question wrong:
Q. What source of fuel in the United States has contributed the greatest capacity increases to the US electric grid over the last 20 years?
A. Nuclear. While no new nuclear plants have been built in the US in decades, capacity increases have been engineered into the majority of existing nuclear plants.
Nimby morons want to keep squash nuclear and they are too stupid to know that building new plants and decommissioning old plants would be highly preferable to being forced to covertly re-engineer old plants in place for more capacity.
Then, tell your ilk to stop fighting nuclear power.
I don’t think he was specifically referencing dumb Pollocks.
So we are supposed to just go without a fight? F that, I will fight to survive.
“No, species are supposed to go extinct and new species are supposed to arise. What’s the matter, do you not believe in evolution?”