From CNBC:
Home price gains are accelerating again, and in some cities those values are overheating.
Four of the nation’s largest cities are now considered overvalued, according to CoreLogic. Home prices in Denver, Houston, Miami and the Washington, D.C., metropolitan area now exceed sustainable levels.
To determine if a market is overvalued, CoreLogic compares current prices to their long-run, sustainable levels, which are supported by local economic fundamentals like disposable income. An overvalued market is one in which home prices are at least 10 percent higher than that level. The rest of the top 10 markets are considered “at value,” but none are undervalued, as prices are higher in all of them compared with a year ago.
“With no end to the escalation in sight, affordability is rapidly deteriorating nationally,” said Frank Martell, president and CEO of CoreLogic. “While low mortgage rates are keeping the market affordable from a monthly payment perspective, affordability will likely become a much bigger challenge in the years ahead until the industry resolves the housing supply challenge.”
Home prices rose 6.7 percent nationally in June compared with June 2016. That is a slightly higher annual gain than May. Prices are now up nearly 50 percent from the trough of the housing crash in March 2011.
The soaring gains now are due to a historically short supply of affordable homes for sale. The number of homes for sale in June was 11 percent lower than a year ago, according to Realtor.com.
“As of Q2 2017, the unsold inventory as a share of all households is 1.9 percent, which is the lowest Q2 reading in over 30 years,” said Frank Nothaft, chief economist at CoreLogic.
While the price gains are widespread, all real estate is still local, and some previously hot markets are actually cooling off. San Francisco is considered at value, with prices up just 5.3 percent, compared with an 8.7 percent annual gain in Denver. The New York City metropolitan area is seeing values up just over 3 percent annually and is considered at a sustainable level, but Houston, while seeing the same price gain is overvalued based on its economy.
Good Morning New Jersey
Told ya so.. From CNN:
New York’s Catskills see a big vacation revival
For travelers and transplants alike, trends such as Cabin Porn fever and farm-to-table food culture align exactly with what the Catskills have to offer, all while popular destinations like the Hamptons have grown far too expensive for the common New York City weekender and far too crowded for the exclusive one.
“There’s a sense of discovery in visiting this area. It’s out of the way. And it’s not the Hamptons, lined with stores you see on Fifth Avenue,” said Mike Cioffi, Brooklyn native and owner of the Phoenicia Diner, which he bought and reopened in 2012. “If you spend a dollar in a store on Main Street, it stays in this community. I think people appreciate that.”
Accordingly, 19th-century boarding houses are being revamped into AirBnB getaways by the dozen.
Distinguished chefs are relocating, planting elaborate gardens and building backyard smokehouses, shortening the distance between farm and table. And in some cases, even the crumbling Borscht Belt resorts themselves are being reinvented.
…Some say they see a diverse new community of transplants coming together in the Catskills — a community that has fled (or been priced out of) other places (read: Brooklyn).
Hipsters love Dirty Dancing.
Grim,
I think the real icing on the cake for the Catskills, points along the way and father away 50-100 miles, even the Adirondacks is going to be the self driving car.
Get in your self driving electric hybrid car in Wayne, pick up the Pumpkin ( Your car is hybrid electric/hot air – so you need Pumpkin to recharge along the way). Your car Artifial Intelligence interface name is “Jeeves”, so you tell “Jeeves” to take you to Mount Airy Lodge (were those herpes infested tubs at Pocono’s or Catskill’s? )
Jeeves would do its best to get you there at an average of 90 mph, while avoiding the Toll Road Systems Artificial Intelligence interface called “Fat Christie the Bastard”.
I have an aunt and an uncle retired up in the Catskills, they moved from Bergen County and Westchester County to retire up there cuz it’s just cheaper ito live there however they come down to South for their medical care. Both sold their homes during the peak of the last bubble.
Not
That was somewhat tongue-in-cheek, but there’s a trend in there that is going to be very interesting.
What becomes of the mega-resort destinations when self-driving cars create alternative vacation options. Just like airlines created places like Cancun, do self-driving cars mean the resurgence of more local vacation options?
Realistically. I won’t go to AC, but I would go to Vegas. For me, it’s easier to get picked up by the car service, drive a few minutes to EWR, fly to Vegas, and have a nice trip. The prospect of driving to AC on a Friday? I’m pretty sure I can get to Vegas faster and easier.
But, self driving? Could that really change mindset? It could be very negative on the airlines and the resort operators.
All that said, I hear RV’s are HOT.
@kurteichenwald
Get ready. Trump letting folks know he won’t pay CSRs.
He will force Insurance premiums 2 explode as punishment to America for defying him.
@CfoundDOTorg
Obamacare is already imploding. No point in pluging holes in the titanic Kurt
@kurteichenwald
Do u repeat every fox talking point? The big problem with ACA is when GOP killed risk corridors despite being told by insur cos that this…
@CfoundDOTorg
Just help me understand why Obamacare premiums were imploding his last year as president
@kurteichenwald
Because they killed risk corridors in 2015 for accomplishing exactly why you have fallen for. Look at 2014 premium increases, compare to 16.
@CfoundDOTorg
You mean the premiums stay down after obama dumped a lot of money to the insurance companies?
@kurteichenwald
It’s called risk stabilization. It was part of original GOP proposal. Seriously READ something. Not a political site. Read medical econ.
‘…Some say they see a diverse new community of transplants coming together in the Catskills — a community that has fled (or been priced out of) other places (read: Brooklyn).
Hipsters love Dirty Dancing.’
I know a granola-type Jersey City aerobics/Pound/PiYo instructor who just bought up in the Catskills. I should’ve picked up on this trend. Too late to cash in?
The borscht belt is coming back? That is something I never thought I’d see most of the catskills is a dump, this truly indicates that there is too much money chasing too few assets.
for clarification “CSR” = subsidies for insurance companies so that taxpayers can fund the difference between what insurance companies expect to pay for lower income family medical costs and what insurance companies will actually charge the insured.
In other words, it’s a welfare program administered by insurance companies and funded by taxpayers and non-poor insurance buyers.
Obamacare was always in essence a redistributionist scheme funded by taxpayers and non-subsidized (wealthier & healthier) insurance payers. That it granted government even more control over both insurers and healthcare providers was an additional bonus for statists.
In the end, Republicans are still mostly Christian altruists, as their free market rhetoric is used for campaign purposes mostly, not for guiding their actual policies. Republicans gave up fighting the welfare state long ago. Their main interest is in making sure that the continuing growth of the welfare state accrues to their friends, and occasionally gets decorated with “free market” trimming that isn’t real, and occasionally they will block opponent’s welfare-statist plans so that they get the chance to do the same thing later themselves.
So according to my sister in law, there are 4 people she’s friends with (around 32 years of age) that bought 3 to 4 years ago. They have each recently taken out home equity loans to renovate their homes. What’s next, we bring back NINJA loans?
It’s still and always will be bread and circuses. Only the fools think the parties care about their constituents.
East of the Catskills, over the Hudson River is hot also. My daughters’ brewery is killing it with mostly NYC weekenders. There’s also lot’s of hipsters that can work from home and go to the office in the city once a week living up there.
The US may not be Argentina, but Jenkinsons surely is. They did a buy one ticket book get one free sale one day over the winter. I got 4 books. Then, all of the sudden the rides are magically twice as many tickets as before. This is petty bs. So my kids ride half as many of their clunky rides and they think they got one over on me?
‘East of the Catskills, over the Hudson River is hot also. My daughters’ brewery is killing it with mostly NYC weekenders.’
The Sunday traffic is amazing. West of 87 doesn’t seem to have the infrastructure for increased volume.
We used to take advantage of the BOGO about 6 years ago. Could you imagine how few crappy rides your brats would get on if you hadn’t done the BOGO? Better deal is the unlimited rides for 4 hours at either of the parks down in Ocean City. Gillian’s and Playland I think. Sometimes they are $15 and sometimes they are $25. Both have pretty good shore coasters and flumes too for the adults.
Less Staten Island trash too.
I will be heading up to the Catskills later this morning month. Many happy memories. We used to go every summer. The Emerald Isle of the Catskills. Most of the resorts are closed now. I know one is a homeless shelter and the other one a Hasid compound.
No One, spot on regarding the redistribution policies under Obama care. I had to LOL when many of his young adult supporters realized their outsized premiums (or penalties) for their good health was the financial lynchpin of his plan.
Re: Catskills and Berkshires here we go again. I recall vividly the same resurgence in the late 80s. More signs pointing to a top. Fair warning, my calls are usually two years early, but usually correct. So there may be another selling season and 10-15% upside to go, but we are getting there.
Question about Obamacare. How much did your income taxes go up to pay for it? Mine went up significantly. My healthcare premiums at work did as well.
Catskills trip is a reunion. If those walls could talk from back in the day!!
Cankles,
That legislation was written for the benefit of people without income taxes and without healthcare premiums. As Jesse Jackson used to say “need, not greed”. Don’t you want to idealistically give away what you have to the have-not’s. Well if you don’t, the government did it for you. In an even more inefficient and destructive way than if they had merely picked your pocket.
Outside of the Catskills and healthcare, Stockman put this one out yesterday. When it crashes, its going to be bigly.
https://dailyreckoning.com/amazon-new-tech-crash/
Are all the right wing nuts here too ashamed to talk about the new immigration proposal?
Tell us your opinion on it
10:24 You could rationalize politics in that way. Or you can realize that there are distinct and significant differences between the parties. Watching this current sh*tshow reminds me just how much how hate incompetent windbags.
Harvard and Jared…..Oy vey.
In 1998, according to sources familiar with the gift, the New York University alumnus [Charles Kushner] pledged $2.5 million to Harvard, to be paid in annual installments of $250,000. … At the time of the pledge, Kushner’s older son, Jared, was starting the college admissions process at the Frisch School, a Jewish high school in Paramus, New Jersey. A senior in 1998-99, Jared was not in the school’s highest academic track in all courses, and his test scores were below Ivy League standards. Frisch officials were surprised when he applied to Harvard — and dismayed when he was admitted.
“There was no way anybody in the administrative office of the school thought he would on the merits get into Harvard,” a former school official told me. “His GPA did not warrant it, his SAT scores did not warrant it. We thought for sure, there was no way this was going to happen. Then, lo and behold, Jared was accepted. It was a little bit disappointing because there were at the time other kids we thought should really get in on the merits, and they did not” …
… Margot Krebs, who was director of Frisch’s college preparatory program at the time, said, “Jared was certainly not anywhere near the top of his class. He had some very strong personal qualities. He’s a very charming young man with a great deal of poise, the sort of kid you would look at him and say, ‘This is a future politician.’ It was an unusual choice for Harvard to make.”
Source: https://www.vox.com/policy-and-politics/2017/8/2/16084226/jared-kushner-harvard-affirmative-action
Paul Solman: You called David Stockman in a column of yours “a cranky old man.”
Paul Krugman: I actually meant to say it was “cranky old man economics.” I don’t think he quite makes the old man designation yet because I’m not that much younger than he is.
Paul Solman: Yes, that was one thing I had noted, but he’s cranky?
Paul Krugman: Yeah, definitely. I mean anyone who thinks that the last 80 years, ever since FDR took us off gold, have been a doomed venture, that strikes me as kind of cranky, right? There seem to have been three generations of pretty good stuff along the way, so that’s what strikes me as being a crank vision.
Paul Solman: And when Neil Irwin of the Washington Post called the book “a spittle-filled diatribe,” you approve of that description?
Paul Krugman: Well, I was glad to see Neil do that because it made me look polite. In a way, I’m glad [David Stockman] wrote it because there are a lot of people for whom that kind of crankiness or spittle outflow has a kind of visceral appeal. This is the stuff that really grabs a lot of people, so it’s good in a way to bring it out into the open in one book so that we can all say, “Hey look, let’s explain why this is wrong.”
Ok, this is pure crap now. Is it really news that the rich buy their kids way into college? I wouldn’t be surprised if 30% of Harvard’s incoming class is completely incompetent. Each year, I have 5 or 6 students that would embarrass the entire Harvard class musically, academically, athletically, and professionally. Unfortunately, they have about a 0% chance of getting in.
>> Each year, I have 5 or 6 students that would embarrass the entire Harvard class musically, academically, athletically, and professionally.
And you have what statistics to prove that?
You are not allowed to make stuff up blatantly unless you are the POTUS
I see a points based proposal that favors merit: english-speakers, skills, education, and ability to self-support.
Sounds like a good idea compared to the current system.
And you have what statistics to prove that?
You are not allowed to make stuff up blatantly unless you are the POTUS
SAT scores, AP scores, statewide and national academic competitions. But yeah, I’m making it up. I’ve only taught at 2 of the top ranked high schools in NJ. I’m not going to try to convince you otherwise. If you truly believe that our top 1% of students have even a comparable chance of getting into Harvard as the Hillary Clintons and Jared Kushners of the world…then there’s no point in conversing with you.
I live 3 blocks from a prep school where 27% of the class goes on to Ivy’s/MIT/Stanford. I get to observe most of these kids every time I grab a slice, a coffee, or a bagel. These aren’t your best and brightest. Not even close. But their parents are willing to fork out 50k a year for a high school. That’s the primary reason they are admitted.
If you want the best deal for your kids go out to Knoebels.
http://www.knoebels.com/
Be advised, it is cheap, it is great, it is almost totally white. The lack of diversity might make even the casual Democrat uncomfortable.
The best parts are:
1. Free admission, free parking.
2. Carry anything you want to into the park.
3. Buy your kids cheap all day passes, especially Tuesday’s and Fridays.
3. Buy ala carte tickets for coasters or anything else you want to ride either by yourself or with your kids.
4. Shaded bench seating areas around most rides, so you just tell your kids, “Sure,
go ahead and ride it again!
5. I recommend the Holiday Inn Express in Bloomfield if you’re staying there for a few days. Continental Breakfast (a good one!) including a machine that you press a button and get fresh pancakes in two minutes.
Bloomsburg, not Bloomfield.
https://www.hiexpress.com/hotels/us/en/bloomsburg/blbpa/hoteldetail?qAdlt=1&qBrs=6c.hi.ex.rs.ic.cp.in.sb.cw.cv.ul.vn.ki.sp.nd.ct&qChld=0&qFRA=1&qGRM=0&qIta=99504425&qPSt=0&qRRSrt=rt&qRef=df&qRms=1&qRpn=1&qRpp=20&qSHp=1&qSmP=3&qSrt=sBR&qWch=0&srb_u=1&icdv=99504425&sicreative=188075576807&siclientid=10074&sitrackingid=693562668&dp=true&glat=SEAR
The cheapest ride to Harvard is still Boston Latin, where my kids go for free. You still have to get there on some sort of merit, but Harvard makes no denial that they are a Boston/Cambridge school first, A New England school second, and a national school third. I doubt any school except Boston Latin sends 25 kids to Harvard every year. What’s more, is they get so whipped into shape at Boston Latin that Harvard, or most other colleges, is a piece of cake once they get there. That’s why I haven’t mind spending $2,000 per year on my subsidized Boston property taxes;-)
BTW, if your kid falls of the grade wagon – BU admits any Boston Public School graduate at a full tuition scholarship, with only some hours of community service as payback and the highest ranking kids don’t even have to do that. How bad is it if your kid lives at home and goes to BU for free as a fallback?
It’s unclear to me. What can I suggest and not invoke the SEC?
Pr0udL1beral,
I laugh when I see your name because it’s an oxymoron. How much of your net income do you donate to aid and assist the plight of the less fortunate?
I love Trump’s immigration initiative because it means those of us made a scapegoat for the failings of others will finally have someone representing us. We’ve been the subject of ridicule, shake down, pawns for extortion and we now have an alpha male at the helm instead of a p.ussy like that big-eared, do-nothing, bullsh1t artist that occupied the White House prior to the current administration.
You sound like a complete and total ingrate, Eddie. Keep it up, Your deplorable loooooove you. (eat a dick, k?)
Eddie loves trump because he, like Trump is a racist. He likes Trump because he is proof that you really can FAIL UP which of course inspires a guy like Eddie/Gary….Eddie loves trump because he is proof that you really can have three or four failed marriages and if you have a business empire, your kids might ‘still’ talk to you and in this case, even work for you. Can you imagine? This guy leaves carnage behind.
Eddie, you are still coasting on the Obama’s administration’s do-nothing successes. Trump has literally done NOTHING since he has been in office. His policies are trash, he has no real clue (like you I would venture). So keep it up. Keep posting your drivel.
ExPat…that park looks awesome. Especially the bobsled coaster. Can’t wait to try it out.
Interesting…sure. But nothing compared to the size if NJ’s hole.
http://www.mymoneyblog.com/underfunded-private-pensions.html?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+Mymoneyblog+%28My+Money+Blog%29
ex-Jersey, are you surprised? If there is one thing you should know about Charlie Kushner is he is gifted in his ability to pay bribes. 2.5m is a pittance to get into Harvard, at that time he owned a large majority of NJ democratic law makers and the government, paying a pittance not just for access but for “results” so to speak. On an other note it’s Harvard, a place with rampant grade inflation resting on it’s reputation. A good percentage of the students come from the elite, the difference between a politicians child and Kushner is Kushner is crass and pays his way in where others use influence.
I’m with Eddie on Obama, worse than doing nothing his administration is seeming more and more like it was involved in blatant criminality. Trump is a blowhard, and not at all appropriate for the office of president, his administration is totally hapless but at least they aren’t running criminal schemes behind the scenes. Obama has funded ISIS, sent guns to the cartels, weaponized the IRS, stolen GSE funds for Obamacare, and is probably behind this whole Russia story and the corrupt morally bankrupt state of affairs in the DNC. Obama was probably one of the most if not the most disingenuous person ever in the Whitehouse.
Obama-
I represent home and change…..hmm nothing really changed
I’ll have the most transparent administration….hmm not at all transparent
Obama basically told the American public he’d be honest with them and then lied at every turn. At least Clinton would tell you he was going to lie to you.
‘ and we now have an alpha male at the helm’
You should check out his phone call transcripts. So cringy. Very beta.
‘Trump branded the border wall as “the least important thing we are talking about, but politically this might be the most important.” He also repeatedly asked Peña Nieto not to publicly oppose Trump’s demand that Mexico pay for the wall–“You cannot say that to the press”–telling him the funding would “come out in the wash, and that is okay.”‘
JCer, Obama had all odds stacked against him and he did far better than most other presidents. Better than Bush Jr., certainly better than what the current POTUS is doing. He brought respect to the position. Not a single scandal during his tenure. Kids around the country and the world looked up to him.
>> (Trump’s) administration is totally hapless but at least they aren’t running criminal schemes behind the scenes.
Really? I mean, your head must be so much up your a$$ to believe what this statement. The current WH is run by the leeches, rats and vermin. Worse than the bullies you find in third world dictatorships.
It doesn’t matter what Obama did or didn’t so… he’s gone and that’s all that matters. His legacy and the legacy of those who adore him will be forever tied to weak-minded ideology. He made those without an identity believe they belong, that they are someone special while throwing them a bone in the guise of empathy, provided by those who perform, most times against their will. Because, you know, we didn’t build that so we don’t deserve the fruits of our labor. In the meantime, you sweet liberals don’t stop believing and we’ll keep towing the line for you.
Chi…Check out UBUNTU.
JCer, Obama had all odds stacked against him and he did far better than most other presidents.
LOL!
I laugh at both of you guys. They are ALL OWNED. Why the heck would either do anything for us? We are peons to both!
Obama had no personal scandals but plenty of political ones(Solyndra, Bengazi, Fast and Furious, extracting tribute from the WS banks instead of punishing bad actors). Obama is a Chicago machine politician and a divisive one at that, using Bush Jr as a metric is a low bar. What odds were stacked against him? He didn’t play the game according to the unwritten rules and was pretty much blacklisted at that point by the Republicans, Trump is doing the same thing with the Dems and will not be able to pass anything as a result. I will say that Obama had poise and carried himself in a Presidential manner. As for the result Obama accomplished nothing of note and Trump will likely do the same. The optics are really bad that ISIS and Al-Qaeda are running around with US supplied weapons and it seems Obama’s administration bungled Iraq and didn’t learn any lessons when he started meddling in Syria’s civil war. The current administration looks like Berlusconi’s administration you are generally seeing what you are getting, they say what they are thinking and yes there are some criminals mixed in for good measure.
FYI Trump is more feared and respected than Obama, Trump again is not good but he was right that other countries didn’t respect Obama they saw someone who was rational and had liberal guilt and could be taken advantage of as a result. With Trump they will fall in line because of the power of the US government and Trumps willingness to be a “bad” guy.
My position is we haven’t had an adult running this country since Bill Clinton, it’s been subsequent bad 2 term presidents and based on this Trump is getting re-elected.
This sounds like Trump
Fast Eddie says:
August 3, 2017 at 11:00 am
JCer, Obama had all odds stacked against him and he did far better than most other presidents.
Eddie of what went on behind the scenes in the Obama administration is ever corroborated and exposed, his legacy will be tarnished and ruined forever, Obama was playing from the Richard Nixon handbook but wasn’t caught. Appeasing the public is a much maligned task for our elected officials, they have no concern for the general population we are just along for the ride to pay the bill, you are either a dollar sign or a vote to a politician and nothing more, they’re maneuvering to get your money and vote anyway possible.
The media and Hollywood protected Oblama like a little girl protecting her teddy bear during a thunderstorm.
Chi Trump has it far worse than Obama, at least he had the support of the Democrats. Neither Democrats, nor Republicans are really willing to work with Trump. Also the media loved Obama and abhors Trump, the MSM is really nasty to Trump way worse than the right wing media was with Obama.
I never looked up to Obama. His so called “inspirational” speeches only inspired those who agreed with his principles – which I don’t. Foreigners liked Obama because he put America last, extending his general philosophy of the virtue of collectivism and the sacrifice of the productive to the non-productive. “Spreading the wealth (and power) around” locally and globally.
Obama didn’t invent these ideas – he picked them up from street and university radicals, and worked hard to make these ideas mainstream. They are all of course already accepted by the mainstream media, and are taught in the propaganda camps called schools, but for now there are still enough people who reject them to put up a temporary resistance before the zombie non-thinkers submit to the rule of the collective in return for “free stuff”.
http://tinyurl.com/zombie-non-thinkers
Pr0udL1beral… lol! I laugh a little more every time I see that handle.
Also Knoebels has maybe the best old school bumper cars you’ll find that are still operating. My Mom grew up about 20 miles from there so I knew the place from about 5 years old on up, and it has only gotten better over the years. Knoebels is also either number 1 or 2 in amusement park food (which sounds like a crazy conflation of good and bad), but the food is really good and reasonably priced. Since you can carry in anything you want (people go in with giant coolers mounted in a big red wagon), they food has to be good or they wouldn’t sell any.
ExPat…that park looks awesome. Especially the bobsled coaster. Can’t wait to try it out.
Knoebels – Wildwood NJ connection. The dark coaster ride that used to be the Gold Bug at Morey’s Pier in Wildwood was relocated to Knoebels. If anybody here was on it in Wildwood, you would remember it. You come out into the daylight about 4 storeys (sp?) above the ocean and the first thing you saw was a track that appeared to end in a bent fashion and was about to dump you into the Atlantic Ocean’s shallow end. Your car suddenly makes an abrupt left turn on the “real” track. Knoebels can’t reproduce that thrill, but it is still a great ride.
https://en.wikipedia.org/wiki/Black_Diamond_(roller_coaster)
^^That doesn’t look like a valid URL, but it is. parentheses?
New Jersey Association of Realtors collected data on house sales for the first half of 2017. The data below shows change compared to same period last year. This data is for houses only and excludes condos and adult communities. Hudson County led in 2013, 2014, 2015, and 2016.
Hudson 7.0%
Ocean 5.1%
Union 4.6%
Bergen 4.4%
Hunterdon 3.6%
Middlesex 3.2%
Morris 3.0%
Monmouth 2.5%
Somerset 1.8%
Cape May 1.6%
Passaic 0.7%
Essex 0.3%
Camden -0.1%
Atlantic -0.1%
Sussex -2.3%
Mercer -4.4%
Warren -4.8%
Cumberland -4.8%
Burlington -5.3%
Gloucester -6.3%
Salem -16.0
Great again: Cascades, a paper company based in Canada, announced it will build an $80 million manufacturing plant in Piscataway. The facility will employ 120 people. Let’s watch the mainstream media to see if they choose to ignore this investment.
Grim please unmoderator my “great again” post
Let the facts speak for themselves.
http://www.nbcnews.com/politics/first-read/then-vs-now-obama-s-presidency-numbers-n704856
Was Obama “owned”… to some degree, yes. But he was not held by the balls by Putin.
Let’s call a lying swindler that’s in the WH now, for what it is. Let’s be fair, and not diminish the awesome president Obama was.
Trump will finish the rest of his term out quietly, playing golf mostly, just like Obama.
Maybe we’ll see him crack some beers in the rose garden with some plumbers or automotive workers.
He will let kids mow the white house lawn, as part of a program to put our youth to work, encouraging domestic employment to stem illegal immigration. Except it will turn out the kid is actually an illegal latino. Liberals will be up in arms over Trump’s new child labor policy. He will go back to playing golf.
Building a manufacturing plant in NJ?
Clearly, the end of times has come.
https://finance.yahoo.com/news/obama-great-gun-business-trumps-terrible-163923519.html
10:59 You are the one that keeps bringing the guy up. I never even think about him, but you and the douchebag you elected can’t seem to let the past go. It’s all your and I for one am waiting to see some ‘winning’ here. Some Presidential’ism if you will. Quit crowing about the stock market. The gubmint doesn’t move the needle there. So far all I see is re-arranging deck chairs on the Titanic.
https://finance.yahoo.com/news/elon-musk-says-people-canceling-141803613.html
Cancellations will actually start in earnest once Tesla hits the 200k production cap and customers lose the $7,500 federal tax credit.
Some of the cancellations you are seeing are already being driven by that, if you have a high 100k reservation number, you don’t stand a chance at getting the credit.
At a price that is $7,500 higher, it’s not a deal anymore.
If and when Telsa finally accomplished something, they need to get Musk out of there ASAP…….he is simply not capable of running a disciplined company…….the contempt and arrogance in his passing comments is frankly stunning…..
Hillary’s Cankles are ground zero for Zika virus says:
August 3, 2017 at 1:35 pm
https://finance.yahoo.com/news/elon-musk-says-people-canceling-141803613.html
grim: can you respond to my e-mail? …..thx
I haven’t followed that for a few years……hopefully you bought it in early March
Hillary’s Cankles are ground zero for Zika virus says:
August 3, 2017 at 10:59 am
Chi…Check out UBUNTU.
This one’s a shocker……it used to be a popular name…..
https://finance.yahoo.com/quote/TEVA?p=TEVA
The gubmint doesn’t move the needle there.
Deregulation for starters. It’s hard to do business when nanny is hitting you in the head while you’re hog-tied. Let’s face it; a f.ucking moron could have been sitting in the WH from 2008 through 2016 and the market would’ve recovered. As it goes, we may very well be just at a start of a bull run.
12:45 Wow….cannot imagine why the media would not be all over that…..OneFiddy Jobs you say? TreeFiddy?
1:52 I’m all for the bull market. I can’t get that partisan about things though. I really don’t care that much. I do think Trump is a fool though. If he doesn’t embarrass the hell out of you then you are not paying attention. Or you are too busy trying to groom the next intern to be your concubine.
But he was not held by the balls by Putin.
Oblama wasn’t held by the balls by Putin? You mean when the Ukrainian territory of Crimea was annexed by Russia and Oblama drew a red line in the sand?
Tesla would be better off as a third party company that develops technology for the rest of the auto companies.
The last 9 months are prima facie evidence that the Obamunists stifled investment through a combination of extortion against the financial sector and labeling the small business entrepreneur “the enemy”……..business confidence was very low………
Trump hasn’t done anything other than not be an Obamunist……in a sense, saying Trump is responsible for market returns is the equivalent of giving Obama the Nobel……
Fast Eddie says:
August 3, 2017 at 1:52 pm
The gubmint doesn’t move the needle there.
Deregulation for starters. It’s hard to do business when nanny is hitting you in the head while you’re hog-tied. Let’s face it; a f.ucking moron could have been sitting in the WH from 2008 through 2016 and the market would’ve recovered. As it goes, we may very well be just at a start of a bull run.
Tesla blows my mind.
C0ckhead CEO, who immaturely has more titles than Stephen King and who is claimed to be bipolar, who has already exercised 1.3 billion dollars in shares, where over 30% of the public shares are short, where every promise has been missed drastically, where he has no business whatsoever if not for stupid US regulations and subsidies that make foreign and American car manufactures pay Tesla to meet their quotas and with a PE of -72 is somehow near a record high.
I really should take 100K and short the sh1t out of it, but I think it’s still too soon. Maybe when the hipsters drive the stock above $1,000.
In other news batter in a can is up 1/1,000 of a cent today on volume of nearly 1,000 shares. What is that? $1 worth of volume? Hope the trader got free trades!
2:57 I think what you’re saying is that redistribution or at least what you saw of it which began in earnest with the largest transfer of public funds in history to the Banks. Yes, the ones that we’re held hostage that would have been left to fail in a lesser country. Anyhow and that those banks who then tied up pursestrings for loans or anything else while they rebuilt there own balance sheets and the money kept pumping in from The Fed….lord I could go on and on. Is it only communist to invest in the common folk and not the banks?
Btw Pencil Thin mustache. He is Essex…..who apparently dodged a bullet with the looks of Essex Co.
New Jersey Association of Realtors collected data on house sales for the first half of 2017. The data below shows change compared to same period last year. This data is for houses only and excludes condos and adult communities. Hudson County led in 2013, 2014, 2015, and 2016.
Hudson 7.0%
Ocean 5.1%
Union 4.6%
Bergen 4.4%
Hunterdon 3.6%
Middlesex 3.2%
Morris 3.0%
Monmouth 2.5%
Somerset 1.8%
Cape May 1.6%
Passaic 0.7%
Essex 0.3%
Camden -0.1%
Atlantic -0.1%
Sussex -2.3%
Mercer -4.4%
Warren -4.8%
Cumberland -4.8%
Burlington -5.3%
Gloucester -6.3%
Salem -16.0
I’m going to start buying put options sometime within the next month or two. Tesla is definitely going to be one that I target.
In politics there are no heroes
Cankles,
Yep,
Tesla the huge corporate welfare queen gets all the love merely by promising. Could turn out to be like plug power, losing money for decades but always finding some new cash to fund the losses by issuing more stock.
I noticed in today’s BMW conference call with investors the CEO hinted in response to a question about Tesla that they will be revealing a surprise at the Frankfurt auto show in Sept. Not sure if it’s the already promised Mini EV expected in 2019, or another unannounced new vehicle.
The media fawns over Tesla. Road & Track took a first drive in a $54k version of the Tesla 3, yet kept on hyping the “$35,000” car line. Nobody complained about having to look down and to the right to check your speed. Tesla expects average pricing of $42 to $44k, meaning they basically expect to pocket the government tax break by upselling the customer $7.5k of options.
Meanwhile Consumer Reports noted that the Chevy Bolt goes farther on a charge than a Tesla S, but that’s just not cool enough.
Anyway, I wouldn’t short stocks with religious fanatics invested until I can see the whites of their eyes. If sales and cash flows are worse than expected in 2H18, then deniability of problems becomes difficult. But then Musk will start hyping up the next big thing of his Master Plan 2.0, driverless Trucks, renting out your autonomous car from work. People love to hear stories. The biggest threat to Tesla would be 6% interest rates. If people could earn positive interest on their money, and companies had to pay real money to borrow, that would be a much tougher world for Tesla stock. Instead, they live on government subsidies for their product, plus artificially cheap cash.
One thought. I doubt Trump even knew he’d done anything wrong if and when they decide he colluded with the Russians. He is that much of a newb, now even in Bama’s worst moments he never looked quite this strange and ill-suited for the role. This from a guy who lambasted Hillary just because she has cankles. Come on…..
Fast,
Regulation is a job maker after deregulation, speculation and fraud have squeezed the economy dry and it all pops. Without Dodd Frank, millions would be unemployed after 2008. MiFid 2 is a godsend now for Euro bank workers. Banks would have no reason to hire otherwise. Al
Obama never said he would f* his own daughter. Let’s start the bar there.
“Regulation is a job maker”
Yes it is, for certain people… at the expense of other people.
‘I doubt Trump even knew he’d done anything wrong’
This is handy:
A Narcissist’s Prayer
That didn’t happen.
And if it did, it wasn’t that bad.
And if it was, that’s not a big deal.
And if it is, that’s not my fault.
And if it was, I didn’t mean it.
And if I did…
You deserved it.
Joyce,
Sure but I would argue that Dodd Frank created way more jobs than it destroyed. Trading desk and trader support roles were being shed like crazy prior to DF. It was a gift to project management, compliance, legal, and technology areas and outsourcing and staffing firms . Sure it hurt product investment and growth but Wall Street had nobody to swindle at that point so growth was dead anyway.
“Obama never said he would f* his own daughter”
I wouldn’t either. Trump’s daughters? I’d tap that!
Stu,
No doubt. She is a piece of a$$. Actually I think that was a direct quote from the Don.
I would let all the first daughters climb aboard the SS Essex . One big sweaty pile.
Bystander,
I don’t mean to be too sarcastic, but do you think the money to pay for all those positions comes from thin air? Every single dollar spent on compliance is taken from somewhere (someone) else. I’m not, at the moment, debating the merit of that or any other regulation. Your insulation that it created more jobs than it destroyed is both wrong and impossible to precisely quantify. Seen vs the unseen – Henry Hazlitt
Bystander says:
August 3, 2017 at 5:23 pm
Joyce,
Sure but I would argue that Dodd Frank created way more jobs than it destroyed. Trading desk and trader support roles were being shed like crazy prior to DF. It was a gift to project management, compliance, legal, and technology areas and outsourcing and staffing firms . Sure it hurt product investment and growth but Wall Street had nobody to swindle at that point so growth was dead anyway.
I am not going to argue for the banks, and I am frankly annoyed that you pushed the conversation in that direction. Simply put, they were required to build capital and had to pass stress tests that were designed and administered by the Obamunists…….all the cash you deride was REQUIRED to be there…….they did not withhold anything from the public………..when the new guard took over, they had the same tools at their disposal, and chose to make the test easier and the prescriptions less draconian…….suddenly a flood of credit start flows……hmmmmmmm…..
Pencil Thin Mustache says:
August 3, 2017 at 3:17 pm
2:57 I think what you’re saying is that redistribution or at least what you saw of it which began in earnest with the largest transfer of public funds in history to the Banks. Yes, the ones that we’re held hostage that would have been left to fail in a lesser country. Anyhow and that those banks who then tied up pursestrings for loans or anything else while they rebuilt there own balance sheets and the money kept pumping in from The Fed….lord I could go on and on. Is it only communist to invest in the common folk and not the banks?
chicagofinance says:
Your comment is awaiting moderation.
August 3, 2017 at 10:58 pm
I am not going to argue for the banks, and I am frankly annoyed that you pushed the conversation in that direction. Simply put, they were required to build capital and had to pass stress tests that were designed and administered by the Obamunists…….all the cash you deride was REQUIRED to be there…….they did not withhold anything from the public………..when the new guard took over, they had the same tools at their disposal, and chose to make the test easier and the pres!riptions less draconian…….suddenly a flood of credit start flows……hmmmmmmm…..
Pencil Thin Mustache says:
August 3, 2017 at 3:17 pm
2:57 I think what you’re saying is that redistribution or at least what you saw of it which began in earnest with the largest transfer of public funds in history to the Banks. Yes, the ones that we’re held hostage that would have been left to fail in a lesser country. Anyhow and that those banks who then tied up pursestrings for loans or anything else while they rebuilt there own balance sheets and the money kept pumping in from The Fed….lord I could go on and on. Is it only communist to invest in the common folk and not the banks?
The End Is Nigh (Steamturd Edition):
NEW YORK — Dunkin’ is thinking about dumping “Donuts” from its name.
A new location of the chain in Pasadena, California, will be simply called Dunkin’, a move that parent company Dunkin’ Brands Inc. calls a test. The Canton, Massachusetts-based company said Thursday that a few other stores will get the one-name treatment too.
The chain wants people to think of its stores as a destination for coffee, although it will still sell doughnuts. Dunkin’ Donuts said it won’t make a decision on whether it will change its name until late next year, when it expects to start redesigning stores.
https://jerseydigs.com/seymour-redevelopment-project-wellmont-theater-montclair/
What if this capital was taken from profit in the name of job creation? Under moderate conditions, good or bad thing for the economy in the short term?…long term?
My position was that of bystander, under the gloomy economic conditions at the time, any job saved was a battle won. But does it carry a long term economic cost?
Curious to hear your take.
“Every single dollar spent on compliance is taken from somewhere (someone) else”
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