From Bloomberg:
Millennial Americans Are Moving to the ‘Burbs, Buying Big SUVs
Millennials are finally starting their own baby boom and heading for the suburbs in big sport utility vehicles, much like their parents did.
Americans aged about 18 to 34 have become the largest group of homebuyers, and almost half live in the suburbs, according to Zillow Group data. As they shop for bigger homes to accommodate growing families, they’re upsizing their vehicles to match. U.S. industry sales of large SUVs have jumped 11 percent in the first half of the year, Ford Motor Co. estimates, compared with increases of 9 percent for midsize and 4 percent for small SUVs.
“We do see that demographic group driving larger sport utility sales as they acquire homes, create families and gain some wealth,” said Michelle Krebs, an analyst at car-shopping website Autotrader. “They started with compact sport utilities and now, with families, they’re moving up.”
The shift to suburbia may surprise those who’ve chided millennials for being more interested in pricey avocado toast than in saving for a home. Much of the generation delayed marriage, childbearing and home ownership after graduating with heaping student-loan debt and entering a weak job market. As more millennials overcome this, many want the life of their baby-boomer parents — the kids, the house in the ’burbs and the beefy SUV.
“As more people move out of their parents’ basement — and there’s still quite a few living there — we expect to see continued healthy demand for homes,” said Svenja Gudell, chief economist for Zillow, which found millennials made up 42 percent of homebuyers last year. “Millennials delayed home ownership, just like they delayed getting married and having kids, but now they’re making very similar decisions to their parents.”
From CNBC:
Popular mortgage deduction could get a haircut in tax reform
The mortgage interest tax deduction has long been considered politically untouchable — until now, that is.
The hands-down favorite of taxpayers is back on the negotiating table as tax reform kicks into high gear, according to industry sources, even though no one from the Trump administration has said that out loud, and Republican leaders in Congress say not to worry.
“Saying they aren’t going to get rid of it isn’t saying they won’t touch it,” said one source who agreed to speak only on background. “There are clearly discussions going on around reducing the maximum of the mortgage interest deduction to the $600,000 range.”
The mortgage interest deduction, which only benefits about 20 percent of taxpayers, is currently capped at loans up to $1 million for married couples who file jointly and at $500,000 for individual filers. The median value of a U.S. home just crossed the $200,000 market, according to Zillow, so not a lot of people make it to that cap.
More than half of those who benefit from the deduction have incomes above $100,000, and they get 81 percent of the benefit, according to the congressional Joint Committee on Taxation. The benefit cost the U.S. government $77 billion in 2016.
As recently as Monday, Senate Majority Leader Mitch McConnell said if you’re worried about the mortgage interest deduction, “you can breathe easy.” A rep in McConnell’s office declined to elaborate.
Capping the popular deduction at loans no higher than $500,000 would affect only 4 percent of borrowers but 15 percent of the dollar volume, since the deduction is so skewed toward higher-income taxpayers. Still, the administration could use it as a bargaining chip to change the standard deduction.
Altering the standard deduction so very few people will want to take it is “kind of an elegant way to water down, if not neuter, the mortgage interest deduction,” said Guy Cecala, CEO of Inside Mortgage Finance. “If you’re a taxpayer and your taxes go down by not taking the deduction, how can you say that’s a bad thing?”
No question, however, that the industry, especially the National Association of Realtors, will lobby hard against any changes. While there is no evidence that the deduction spurs homebuying, it does make certain homes more affordable for some buyers.
@nytimes
Breaking News: Mitch McConnell, the Senate leader, privately doubts whether Trump can salvage his administration
Getting rid of the interest deduction while raising the std deduction is a no brainier .It most definitely helps renters and middle class ,and possibly making houses more affordable in NJ .Assuming home prices come down with losing this deduction .
Houses in New Jersey are affordable. The taxes however.
grim,
http://www.nj.com/union/index.ssf/2017/08/petition_seeks_to_make_elizabeth_elections_non-par.html#incart_river_home
The proposal
The suggested system would put the names of all mayoral and city council candidates on the ballot in November without declared party affiliations. The school boards in Elizabeth and many other municipalities use this system.
With an 80% probabilty – A Hudson County cynical view of Trump is:
-Trump is a money launderer and tax evader. Mueller is going to nail him. Trump is looking to set up an out. Whether with pardons for himself/family or if need be take the country to the edge Chavez/Maduro style of Demagogue – essentially saying “You see, they are out to get me” as he is carted off by the US Marshalls that have a Supreme Court Arrest/Removal order. A lot of people are looking at his behavior now and post Mueller investigation results, trying to check off against the 25th Amendment removal instruction list. It will take a few years to notice, but once remove our system will be way stronger, as it has been tested.
And with a 5% probability – I say the 2020 Ticket will have a Kardashian – preferably Caitlyn Jenner.
What complicate matters for the FBI, but if they are who they are they’ll still nail him is the mixing of issues.
– Money laundering & tax evasion by Trump & Co.
– Putin is aware of it. So Trump is compromisable.
As those that come from the former commie block countries will understand easier. The FSB also does active measures/agents of influence. So the wife of the neo-n8zi Spencer is Russian with deep ties to Kremlin and acts as official translator to many Pro-Putin Russian reps visiting the USA.
-This means that a lot of the alt-right whatever you call it, is not really real. It’s amplified because of FSB direct/indirect action – no different than the old KGB with communist in the 30’s, 40’s, 50’s and on. This alt-right noise is having two effects that are generally pro-Putin effects. 1- Make the USA looks like a banana republic ( A Russian/China goal) 2- Give inadvertently cover to Trump, and Trump is no full and taking full advantage of it.
So I would look for a counter-intelligence operation taking out the foreign agents of influence. Neo-N8zi taken down under civil rights laws. Trump taken down under money-laundering and tax evasion.
It is a tough law enforcement/counter-intelligence/ prosecutorial/ political picture.
Had my first Mazda issue. Transmission in CX-9 was clunking when shifting into drive. Read a few forums and apparently, transmission just needs a reset (whatever the fcuk that is). It did it. Dealer was going to charge me $60 for it, but I’m gonna raise hell if they do since supposedly the computer needed an update anyway. I think I liked old, non-computerized cars a lot better.
Said it before, will say it again. Trump is really a Reform Party candidate (again) who used the GOP to get himself elected. Just as Bernie wanted to use the Dems to do so.
Understanding that makes understanding the current milieu easier.
Was in DC on Monday and Tuesday. The secured block of Penn. Ave. is completely closed off, which I found odd given that Trump wasn’t in the residence. I think that is overkill and probably not his doing. If I were his inner Bannon, I’d tell him to let it remain open while he isn’t there. If some Islamist or Antifa type lobs a rocket at the building, that is propaganda gold.
@puzzy
Breaking News: Mitch McConnell and the New York Times are both political whores.
Propaganda only works if you have control of the propaganda machine. CNN et al would say that it was Trump’s fault and God forbid anyone lost their lives in such an attack. He’d be the Murderer in Chief.
If some Islamist or Antifa type lobs a rocket at the building, that is propaganda gold.
@puzzy
Democrats to rebrand themselves as the Urine Throwing party.
LOL!!!! This is certainly the Hillary that her inner circle knows:
“Maybe I have overlearned the lesson of staying calm, biting my tongue, digging my fingernails into a clenched fist, smiling all the while, determined to present a composed face to the world,”
http://www.latimes.com/books/jacketcopy/la-et-jc-hillary-clinton-trump-20170823-story.html
What are your thoughts about it Grim? Are you for or against…or neutral?
I understand what it is and personally don’t care much. Seems like a punch in the face to rich liberal coastal elites who didn’t and won’t vote for Republicans anyway.
grim says:
August 23, 2017 at 8:11 am
From CNBC:
Popular mortgage deduction could get a haircut in tax reform
The mortgage interest tax deduction has long been considered politically untouchable — until now, that is.
The hands-down favorite of taxpayers is back on the negotiating table as tax reform kicks into high gear, according to industry sources, even though no one from the Trump administration has said that out loud, and Republican leaders in Congress say not to worry.
They won’t touch it. Need those rich donors to continue to contribute.
Yeah but do you think they’re really contributing to Republicans anyway?
They’ll contribute to whoever they think will provide the least hit to the wallet. This is how it always works.
1. Mueller’s top FBI investigator has quit
2. the Russia thing is totally fake. It’s now proven fake…which is why no one is talking about it anymore
https://www.thenation.com/article/a-new-report-raises-big-questions-about-last-years-dnc-hack/
Jerzy Pussinator says:
August 23, 2017 at 10:00 am
What complicate matters for the FBI, but if they are who they are they’ll still nail him is the mixing of issues.
In surprise move, Marco Rubio to weigh in on N.J. Senate race
http://www.nj.com/politics/index.ssf/2017/08/marco_rubio_to_weigh_in_on_nj_senate_race.html
Steve Lonnegan looking at running for the recently “flipped” NJ 5th congressional district.
http://www.politico.com/story/2017/08/22/playbook-beyond-the-beltway-241904
I paid off my mortgage years ago. Go ahead.
The very rich don’t have big mortgages and the mortgage deduction wouldn’t mean much to them anyway. It’s the two income strivers whose mortgage payment is hovering around the Realtor-suggested 35% of gross income cap who gets slapped by this.
I hope it happens right after Pumpkin levers up into prime Wayne real estate. Just in time for Murphy to take away the cap on NJ local real estate tax hikes too, for a one-two gut punch then crotch kick.
Ron Meyer, Editor of Red Alert Politics, responded this morning on a debate for Fox and Friends First:
“Those statues are right where Nancy Pelosi left them when she was Speaker of the House…
“The truth is, the Democrats have a pretty poor history on Civil Rights, including Nancy Pelosi’s own father who was the Mayor of Baltimore — and was one of the people who dedicated statues to Robert E. Lee and ‘Stonewall’ Jackson, and in his speech said that they defended ‘sacred institutions.’ What are those ‘sacred institutions’? One of them is slavery.
“And the truth is, the Democrat Party has a history of opposing Civil Rights, favoring Jim Crow laws, and also defended slavery back when the Civil War happened.”
Pelosi has yet to denounce her father or the history of her Party.
Read more at http://redalertpolitics.com/2017/08/21/confederates-capitol-statues-right-nancy-pelosi-left-video/#YOK6uYCy1RJQm9kW.99
Try to Google “what party was Abraham Lincoln”
https://www.google.com/search?source=hp&q=what+party+was+abraham+lincoln&oq=what+party+was+ab&gs_l=psy-ab.3.0.0l4.574.4708.0.6230.20.17.0.0.0.0.264.1826.0j7j3.10.0….0…1.1.64.psy-ab..10.10.1825.0..35i39k1j0i131k1j0i10k1j0i20k1.-epK3x9BVhA
The results are “National Union Party”
WTF?
The major parties are all the same. In it for themselves. Regardless of how they flip flop around on positions over the years. Hate when people act like the party they are sworn too is some kind of savior. THEY ALL SUCK!
The major parties are all the same.
Then why does the media embrace leftist agenda and cater to the low information crowd?
2020 – Trump runs as an independent.
Anybody who whines about the mortgage interest deduction doesn’t even know what AMT is.
LOL! I think Google is leaving their balls uncovered and inviting an unbiased search engine into the space that will advertise explicitly as such.
Try to Google “what party was Abraham Lincoln”
Does anyone know where I can get an open source personal web crawler?
Eddie,
The Right has plenty of their own media. The majority of the MSM supports the left because it is more ACADEMIC. It’s really that simple. Both parties have done so much base pandering over the last couple of decades that the lines are clear to see. I fly to Reno and Trump is god. I fly to Newark and Trump is the Devil. The airport in Reno displays Foxnews at the terminals. The airport in Newark? CNN. See how easy this was to explain?
“Anybody who whines about the mortgage interest deduction doesn’t even know what AMT is.”
I got both. And I’m whining. Heck…raise all of my taxes. Just make government slightly more efficient or accountable.
Call it selfish, but I’m against touching the mortgage interest tax deduction. This state gives enough to these other states so that they could have lower taxes, I’m not advocating for giving them even more.
Grim, good post in mod.
Raising taxes tend to make government less efficient and less accountable.
It just encourages them to add more administrators and bloat.
Incentive structures are what create efficiency and accountability.
Performance and goal based compensation, and the profit motive, coupled with competition. Those are observable motivators of efficiency and accountability.
None of which operate on Shaniqua at the DMV.
Likelihood of NAFTA termination seems pretty high. Probably the best way to go as China just uses it as a backdoor into the US markets anyway.
https://www.youtube.com/watch?v=4O7dugmijps
Truth be told, the NJDMV or whatever it is called now, is 100 times better privatized than when it wasn’t. Just sayin’.
And in other news. I paid the max at Maxon. Bastards. Though, he did me a favor and took an extra $5 off the oil change.
http://nypost.com/2017/08/19/it-staffers-may-have-compromised-sensitive-data-to-foreign-intelligence/
Federal authorities are investigating whether sensitive data was stolen from congressional offices by several Pakistani-American tech staffers and sold to Pakistani or Russian intelligence, knowledgeable sources say.
What started out 16 months ago as a scandal involving the alleged theft of computer equipment from Congress has turned into a national security investigation involving FBI surveillance of the suspects.
Investigators now suspect that sensitive US government data — possibly including classified information — could have been compromised and may have been sold to hostile foreign governments that could use it to blackmail members of Congress or even put their lives at risk.
“This is a massive, massive scandal,” a senior US official familiar with the widening probe told The Post.
Alarm bells went off in April 2016 when computer security officials in the House reported “irregularities” in computer equipment purchasing. An internal investigation revealed the theft of hundreds of thousands of dollars in government property, and evidence pointed to five IT staffers and the Democratic Congress members’ offices that employed them.
The evidence was turned over to the House inspector general, who found so much “smoke” that she recommended a criminal probe, sources say. The case was turned over to Capitol Police in October.
When the suspected IT workers couldn’t produce the missing invoiced equipment, sources say, they were removed from working on the computer network in early February.
During the probe, investigators found valuable government data that is believed to have been taken from the network and placed on offsite servers, setting off more alarms. Some 80 offices were potentially compromised.
July houing stats out. Hudson County leads again with house price growth accelerating to 12.3%. Last week, 2 blog contributors, Joyce and me, predicted Hudson would lead the state again.
But I was only half right. I expected Hudson to fall short of Nassau County’s 9% growth July growth, but Hudson County topped it.
Statewide, house prices advanced 0.8% in July, with many counties including Sussex experienced continued price declines.
Fox News – We Report, You Decide
CNN – We Decide, You Repeat it or STFU
Right Pat. Both are 🏇-shite channels. You have to be an idiot to watch either, unless you like to witness live mania. I like my fiction served with white walkers and dragons. For news, Alexa give me a news briefing. Done.
Why most “comedy” isn’t funny anymore, from Dave Barry:
“But now, it’s more likely to be a political target, and whichever side it is, I’m inclined to view that kind of humor as lazier. It’s more like, “I know you’re on my team, so if I mock that person, we’ll both get a good laugh, and it also will prove we’re smarter than them.”
That’s kind of the format, the template, for a lot of humor now. And for the most part, it’s not really based on anything real. It’s kind of silly to pretend that all Republicans are stupider than all Democrats, in my opinion, or the other way around.”
That pretty much describes The Daily Show and a lot of other TV comedy perfectly.
It also kind of describes TV news channels and newspapers pretty well.
I’m looking forward to a new season of South Park, but even they have been pulling their punches in recent years.
I agree with comedy sentiment. I shared my views with a friend of mine at SNL and he kind of agrees.
No One.
Exactly.
@RyanLizza
Trump fall agenda:
Pardon Arpaio,
shut down the government,
kill the filibuster,
save “our” history and heritage.
Trump fall agenda:
Pardon Arpaio,
shut down the government,
kill the filibuster,
save “our” history and heritage.
Sounds like a plan!
True Greatness Gary!
http://www.politico.com/story/2017/08/23/trump-nafta-trade-withdrawal-threat-canada-mexico-241948
Maybe congress is just going to start ignoring T.
http://www.slate.com/blogs/the_slatest/2017/08/23/congress_surreptitiously_plans_reasonable_bipartisan_health_care_legislation.html
They can campaign on: “We sent it up to him, if he doesn’t want to sign it, that’s not my issue”
Alexa? Amazon? Jeff Bezos and his Washington Post? Likely filled with bias as well.
The only place you should come for news is njrereport.com
Bystander says:
August 23, 2017 at 4:08 pm
Right Pat. Both are 🏇-shite channels. You have to be an idiot to watch either, unless you like to witness live mania. I like my fiction served with white walkers and dragons. For news, Alexa give me a news briefing. Done.
The Washington Post is the absolute worst. I used to think Fox News took liberties until I read the WP headlines my smartphone was sending me.
Today’s headlines are as follows:
China to use ‘all means necessary’ to defend itself against Trump ‘protectionism…’
‘I don’t know how it got this bad’: Trump supporters and protestor…
Egypt may be the newest front in Trump’s battle with North…
Second largest jackpot in Powerball history has a winner
Of those 4 headlines, only the lottery story is factual. The other three are nothing more than conjecture.
Let’s look at FoxNews:
Hurricane warning for West Texas
Paperwork in place to pardon ex-sheriff Arpaio
Trump signs ‘historic’ veterans bill at American Legion convention
Netanyahu warns Putin on Iran involvement
Hmmm…All four are factual.
Should I move onto the NYTimes Moana?
Ignore the mainstream media reports on real estate. Examine the data yourself. The best place to buy a house in NJ today (commute, price appreciation, schools) is Journal Square in Jersey City.