From NJ Spotlight:
RETHINKING NJ’S HOUSING MARKET TO MEETS NEEDS OF SUBURBANITES, CITY DWELLERS
New Jersey’s next governor faces daunting housing problems that are widespread and complex, ranging from a lack of affordable homes in walkable communities to a glut of McMansions in suburbs that are no longer in vogue — and little available land on which to fix the imbalance, a new report warns.
The fifth in The Fund for New Jersey’s “Crossroads NJ” series of reports aimed at informing public debate during this election year has a long title that sums up a good portion of the state’s housing problems: “Communities of Opportunity: New Jerseyans Need More Affordable, Convenient, and Safe Places to Call Home.” (The organization is a funder of NJ Spotlight.)
“There are just simply not the resources available to build the homes that we need and the reason for that is a completely out-of-balance housing market,” said Staci Berger, president and CEO of the Housing and Community Development Network of New Jersey. “There’s lot of development that builds very large homes for very wealthy people but does not build starter homes and homes that are available for working families, seniors, and people with disabilities. And we certainly have a huge problem with the availability of rental apartments that families can move into.”
…
There are economic benefits to resolving the crisis, according to the report. . The construction of multifamily homes brings in millions in taxes and creates jobs. Affordable-housing development and community revitalization work done by the state’s community development organizations added $12 billion to the state’s economy over the past quarter century. And the $200 million the state invested in permanent supportive housing beginning in 2005 created both one-time and permanent job and increases in state income and sales taxes and local property taxes.The report does a thorough job in explaining the depth and breadth of the housing problem.
“For New Jersey’s nearly 9 million residents, housing costs are among the highest in the nation, evictions occur at an unprecedented rate, and residential foreclosures outpace the rest of the country,” the report states. “Development over the last several decades has brought the state close to build-out and the resulting sprawl has separated economic opportunities and affordable homes. Today, too many New Jerseyans struggle to find an affordable, convenient, and safe place to call home.”
More than three of every 10 renters spend at least half of their gross income on rent and utilities, making New Jerseyans the second most-burdened in the nation by that measure. Last year, there were only 29 affordable apartments available for every 100 families with less than $30,000 in income.
Good Morning New Jersey
Good Morning Mike
And the liberals continue to eat their own:
https://www.mediaite.com/online/old-clip-resurfaces-of-kimmel-having-women-guess-whats-in-his-pants-maybe-put-your-mouth-on-it/
Puleaze. Libruls ‘ll be back….jus u waitZ.
Trump won’t make it through his first term.
Executive order today on selling health insurance across state lines?
@mattyglesias
Typical trucker gets:
— $0 from passthrough loophole.
— $0 from estate tax repeal.
— $0 from top rate cut.
— $0 from corporate rate cut
Fab Yes. Self serving and worse.
Their rate will be cut….and their standard deduction doubles. Netting them a lower tax payment.
Nice try though.
Grab them by the puzzy says:
October 12, 2017 at 8:11 am
@mattyglesias
Typical trucker gets:
— $0 from passthrough loophole.
— $0 from estate tax repeal.
— $0 from top rate cut.
— $0 from corporate rate cut
@DLeonhardt
to Gary Cohn & Steven Mnuchin: Stop lying about Trump’s tax cuts, for everyone’s sake — including yours
“Want to guess how many families in New York State — population 20 million — are wealthy enough that they’re likely to pay any estate tax next year, according to an estimate based on I.R.S. data? Just 470. The number is so low in Montana, Vermont, West Virginia and four other states — likely fewer than 10 families in each — that the I.R.S. doesn’t provide details”
@Tweetermeyer
Musk heroically kicked the industry awake, but heroes aren’t necessary (or even useful) in the day-to-day operations of a car company.
@Tweetermeyer
Auto biz history has lots of examples of towering figures changing everything at a pivotal juncture but failing to run a sustainable company
@Tweetermeyer
Just off the top of my head, Andre Citroen and Billy Durant transformed the car business but died bankrupt.
What about John DeLorean?
150k for a model 3 slightly used.
https://www.google.com/amp/s/www.cnet.com/google-amp/news/first-used-tesla-model-3-hits-craigslist-for-150000/
Without John DeLorean Marty would have never been able to travel back in time.
Edward Niedermeyer’s writings on the auto industry are spot on. Tesla has minimized how difficult it will be to mass produce the Model 3.
Yes, Musk is a visionary but his role should be scaled back. They need to bring in someone in the auto industry who is familiar with mass production and can be more open an honest with shareholders.
https://dailykanban.com/2017/10/tesla-stealthily-disclose-model-3-ramp-issues/
It’s capitalism. It makes no sense under current market conditions for developers to build starter homes in nj based on the cost of dirt. Blame whatever else you want, but the heart of the matter is capitalism at play. This is what 3b fails to understand when I associate high cost of living with rich areas. Under capitalism, dense areas of rich individuals drive up the cost of everything, pushing everyone else out. The people leaving jersey are not the rich (although some move for whatever reasons) trying to avoid high taxes. It’s the elderly and lower middle class that is getting pushed out by the game of capitalism.
“There are just simply not the resources available to build the homes that we need and the reason for that is a completely out-of-balance housing market,” said Staci Berger, president and CEO of the Housing and Community Development Network of New Jersey. “There’s lot of development that builds very large homes for very wealthy people but does not build starter homes and homes that are available for working families, seniors, and people with disabilities. And we certainly have a huge problem with the availability of rental apartments that families can move into.”
Honestly, how else can you setup housing in nj than its current setup? What are you supposed to do with people that make 30,000 a year and dirt that costs 10 times what they earn in a year? That’s why we have ghettos. The urban decay we speak about is the only place capitalism allows these people to live in nj. The people with money (rich) do not want to live near them, driving down the cost of the land in the areas the poor live. We can blame whatever we want on why we have urbanized ghettos, but the honest truth is capitalism.
“More than three of every 10 renters spend at least half of their gross income on rent and utilities, making New Jerseyans the second most-burdened in the nation by that measure. Last year, there were only 29 affordable apartments available for every 100 families with less than $30,000 in income.”
Pumps you are an idiot. Dont tell me what I do and do not understand. I asked you to leave me out of your ramblings and I will ignore you. Is that to difficult to comprehend?
The problem when trying to criticize Tesla’s business model is that everyone wants to give them a pass because they did something nice with Space X. Tesla is not immune from criticism. They fail to deliver on just about every business promise and they never meet any deadlines. They post no profits and don’t sell any products that are profitable without significant subsidies. These are things investors are interested in. If you didn’t want to be open to that type of analysis, they should have never made it a publicly traded company. As of now, they are definitely towing a fine line to being overly optimistic or flat out misleading shareholders.
The market valuation is completely irrational and the execs are loving every minute of it. Anyone that thinks otherwise, don’t bother arguing….I dare you to buy in. I’ll be buying put options on it sometime in the next 10 months.
What exactly was wrong with what I stated? You call it ramblings because you clearly don’t understand. Stop being so arrogant and learn a thing or two.
3b says:
October 12, 2017 at 9:58 am
Pumps you are an idiot. Dont tell me what I do and do not understand. I asked you to leave me out of your ramblings and I will ignore you. Is that to difficult to comprehend?
You will support your team to no end. They hate musk, therefore, you must hate musk. The guy just forced huge car companies to abandon the fossil fuel model for electric. Do you know how difficult this is to do? Just admit that you are a true red soldier and will attack anyone not aligned with your team’s ideology.
“The problem when trying to criticize Tesla’s business model is that everyone wants to give them a pass because they did something nice with Space X”
He has ambitious goals. He raises the bar high. How is he misleading investors? Ambitious plans always go perfect? Come on now. If he actually hit these ambitious goals, do you know what the stock price will be? I don’t think anyone expects him to actually nail them or beat it. If he comes close, that’s good enough.
Besides, its your money. You can bet against him, or bet with him. No one is holding a gun to their head to do anything. If his business plan is worthless, then investors would say so with their money. Apparently, for some, it’s not worthless.
“As of now, they are definitely towing a fine line to being overly optimistic or flat out misleading shareholders.”
You know…reading Musk’s bio, the dude appears to have been more lucky than brilliant. Had he not turned daddy’s 30K investment into an internet city guide that was bought by a clueless/dying newspaper industry for WAY too much, he wouldn’t have had the principal to put at risk for all of his unprofitable endeavors. Quite honestly, I don’t think any of his companies ever made any money while he was there. He just kept selling his shares as each got bought out during the tech bubble. I’m really not sure why everyone is so enamored in him. His best accomplishment to date appears to be milking taxpayers to support his electric car dreams.
“The guy just forced huge car companies to abandon the fossil fuel model for electric.”
We’ll see if this comes to fruition. By now, there were supposed to be quick battery exchanging stations everywhere you looked. One can’t even find enough electric charging stations to make a non-ice care practical for anything but a round-trip to work or the supermarket.
He has ambitious goals. He raises the bar high. How is he misleading investors? Ambitious plans always go perfect? Come on now.
I shouldn’t have to explain this to you…and I won’t.
“The guy just forced huge car companies to abandon the fossil fuel model for electric.”
Abandon? I guess no gas powered cars will be available in 2018.
I won’t comment on your ramblings because I am ignoring you. And I have commented on what you said before;same circle jerk with you. So please don’t reference me in your posts and ignore mine and I will ignore yours. Very simple.
You know…reading Musk’s bio, the dude appears to have been more lucky than brilliant. Had he not turned daddy’s 30K investment into an internet city guide that was bought by a clueless/dying newspaper industry for WAY too much, he wouldn’t have had the principal to put at risk for all of his unprofitable endeavors. Quite honestly, I don’t think any of his companies ever made any money while he was there. He just kept selling his shares as each got bought out during the tech bubble. I’m really not sure why everyone is so enamored in him. His best accomplishment to date appears to be milking taxpayers to support his electric car dreams.
He’s definitely a top notch salesman…but that’s about where it ends. As of now, with respect to Tesla he’s much closer to Elizabeth Holmes than Henry Ford. In pumps world, Elizabeth Holmes didn’t mislead investors…she was just wildly optmistic.
Isn’t this the case with all game changers. They fail and go bankrupt, and the golden ideas are adopted by other industry heads. That’s if it’s all done privately, but most of the time the failure costs for innovative game changing technology is done by the govt and then given to the private sector to profit from. Example, the internet, or currently, the space program is making the transition from public to private.
Steamturd supporting the Canklephate says:
October 12, 2017 at 10:31 am
You know…reading Musk’s bio, the dude appears to have been more lucky than brilliant. Had he not turned daddy’s 30K investment into an internet city guide that was bought by a clueless/dying newspaper industry for WAY too much, he wouldn’t have had the principal to put at risk for all of his unprofitable endeavors. Quite honestly, I don’t think any of his companies ever made any money while he was there. He just kept selling his shares as each got bought out during the tech bubble. I’m really not sure why everyone is so enamored in him. His best accomplishment to date appears to be milking taxpayers to support his electric car dreams.
The government built the internet as a better way to share information than the fax machine provided. It wasn’t until sexual predators and all other kinds of mentally ill people hijacked it to share malicious material that it really took off. God bless p0rn!
Actually, no.
No applies to:
“Isn’t this the case with all game changers. They fail and go bankrupt, and the golden ideas are adopted by other industry heads.”
For example, Rockefeller’s Standard Oil was a game changer, and that made him a lot of money.
The story of the idealistic innovator crushed by greedy capitalists is beloved by lefties, but is far outnumbered by innovators that actually benefit from their innovations. But that’s not an enticing story for pumpkinheads.
Musk also married two actresses. ’nuff said.
Bitcoin now North of $5000, a simple $20 investment in it a few years back now is a downpayment on an FHA loan.
You could buy a hell of a lot of canned pancake batter with just one bitcoin.
This is funny coming from you. Mr. defender of the free market is idolizing a man that was trying to eliminate competition, hence, future innovation.
And what exactly did he do that was such a game changer? He’s another bill gates. Good at business, but not the innovation part. So I ask again, what did he exactly do that was so innovative? Try to create a monopoly?
No One says:
October 12, 2017 at 10:52 am
No applies to:
“Isn’t this the case with all game changers. They fail and go bankrupt, and the golden ideas are adopted by other industry heads.”
For example, Rockefeller’s Standard Oil was a game changer, and that made him a lot of money.
The story of the idealistic innovator crushed by greedy capitalists is beloved by lefties, but is far outnumbered by innovators that actually benefit from their innovations. But that’s not an enticing story for pumpkinheads
Odd conversation.
Bitcoin is legitimate but Musk is not?
What kind of bizarro world are we in.
This is funny coming from you. Mr. defender of the free market is idolizing a man that was trying to eliminate competition, hence, future innovation.
Stifled innovation? He only started one of the most prestigious medical research institutions in the world.
And btw…trying to prevent the market from evolving never works. Technology always wins.
Odd conversation.
Bitcoin is legitimate but Musk is not?
What kind of bizarro world are we in.
I said it’s now equal to an FHA loan. It was a subtle way of saying Bitcoin is way too high and an FHA down payment is way too low.
As for Musk, I’ve always been very adamant that he could be running a business that actually posts a profit by being a research arm for various automotive companies. The business model of Tesla is the only thing that appears bizarre to me.
Things are heating up. A lot at stake this election season.
http://www.nj.com/politics/index.ssf/2017/10/guadagno_attacks_murphy_post-debate_murphy_calls_her_ad_vile.html
Stifle innovation by creating a monopolistic environment. That was his goal, and under those conditions, innovation comes to a halt. He was beyond loaded, hope he put his name on some research institution after putting so many businesses out of work with his strategy to control the entire market.
Blue Ribbon Teacher says:
October 12, 2017 at 12:01 pm
This is funny coming from you. Mr. defender of the free market is idolizing a man that was trying to eliminate competition, hence, future innovation.
Stifled innovation? He only started one of the most prestigious medical research institutions in the world.
The level of unchecked cash burn DEMANDS that he be a publicly traded company…….he comes to market each year to raise more money in secondaries…….how this action fails to set off warning alarms is beyond me…..those so diluted should be pissed….
Blue Ribbon Teacher says:
October 12, 2017 at 10:00 am
If you didn’t want to be open to that type of analysis, they should have never made it a publicly traded company.
Look at the assumptions in this report……put aside the analysis….these researchers parroted what came from Telsa circa Spring 2015…..amusing if it weren’t so sickening…..
http://www.economist.com/sites/default/files/tesla_motors.pdf
Stifle innovation by creating a monopolistic environment. That was his goal, and under those conditions, innovation comes to a halt.
Please explain to me how innovation came to a halt from the years of 1860 to 1930.
The shareholders aren’t pissed yet because they have not realized their losses yet. Once the stock nose dives, we are going to be looking back about how a company with a tiny fraction of the overall market in car sales is was considered the most valuable car company. Those that want to write this off…put your money where your mouth is and buy the damn stock.
Pumpkin’s best ironic quote ever:
Stop being so arrogant and learn a thing or two.
Tesla shareholders are also emotionally invested. Huge fanboys. Much like apple.
When you control almost the entire market, what is your incentive to invest in research and development? Why would you do such a thing when you already control the market? Just to burn money?
When you control almost the entire market, what is your incentive to invest in research and development
Ever heard of Bell Labs?
Blue,
I simply pointed out the problems with Rockefeller. He is the reason they created anti-trust laws. I don’t look at him as an innovator, I look at him as a cut throat businessman that was really good at taking out his competition anyway he could. It helps when you lack morals and ethics.
So you haven’t heard of Bell Labs. And he was so good at taking out his competition that he prevented Edison and Westinghouse from creating the electrical grid right?
and FYI, Rockefeller was the financier behind Ford Motor Company. But keep making up more crap.
Six doors, 200 miles of range, yas please!
https://www.autoblog.com/2017/10/10/panoz-green4u-announces-electric-6-door-suv/#slide-7118390
What’s the final tally on the US automaker bailouts? I thought it was something like $9-11 billion in losses.
Musk has got nothing on this lady:
http://www.nj.com/bergen/index.ssf/2017/10/nepotism_scandal_that_forced_out_big_money_super_of_tiny_district_began_with_tip.html#incart_river_home
All I’m asking is what did Rockefeller innovate tech wise? What ideas did he personally come up with that changed the evolution of tech?
Blue Ribbon Teacher says:
October 12, 2017 at 1:21 pm
and FYI, Rockefeller was the financier behind Ford Motor Company. But keep making up more crap.
“For what reason does U.S. society today need its economy to be slowed down? In the last two cycles it was obvious. In the mid-2000s there was speculative excess in both the housing and credit markets that eventually did take down the economy. And in the late 1990s there was excess in the technology and telecom industries — not so much some of the high-flying internet stocks, but real economic excess in things like fiber-optic cable investments.
Today, we have none of that. Sure, whatever’s happening in the cryptocurrency world raises eyebrows, but if it all got wiped out tomorrow nobody should feel particularly bad for the people speculating in such a risky endeavor. It would be unlikely to have much of an impact on the real economy. Perhaps some tech stocks are overvalued. Perhaps we’re producing too many high-end television shows. Again, this doesn’t seem like a grave concern for the Federal Reserve.
What we do have is a resource imbalance, which is where millennials come in. There’s already a shortage of housing, particularly entry-level houses, the sorts millennials are looking to buy. And to make things worse, we are not building enough houses to meet the housing needs of millennial families.
Because of low unemployment, and because the public sector remains in a bunker mentality when it comes to the hiring and pay of workers like teachers, firefighters and police officers, we’re also going to have a growing labor shortage in some of the areas where workers are needed most — the people who teach our kids and keep our communities safe.”
https://www.bloomberg.com/view/articles/2017-10-12/don-t-worry-about-inflation-solve-the-housing-shortage
No doubt in my mind that we will have severe teaching shortage across this nation. Maybe our state will be fine, because we pay more than 50,000, but the rest of the country is beyond fu!ked.
“Because of low unemployment, and because the public sector remains in a bunker mentality when it comes to the hiring and pay of workers like teachers, firefighters and police officers, we’re also going to have a growing labor shortage in some of the areas where workers are needed most — the people who teach our kids and keep our communities safe.”
“When you control almost the entire market, what is your incentive to invest in research and development? Why would you do such a thing when you already control the market? Just to burn money?”
In the early years, Google controlled like 93% of the search ad business and was printing money, yet the search ad portion of the business only made up 20% of their operating revenue. Hmmmm.
Jobless claims at 243k? 43 year low.
Yes, but this doesn’t apply to Standard Oil. It was impossible to compete in that market, he destroyed his competition.
“In the early years, Google controlled like 93% of the search ad business and was printing money, yet the search ad portion of the business only made up 20% of their operating revenue. Hmmmm.”
Pumpkin is still operating under fake news spread by commies. Learn something about standard oil innovations here:
https://www.theobjectivestandard.com/issues/2008-summer/standard-oil-company/
Listening to a webinar on stop-loss and changes in the risk profile for self-funded health plans. Opening discussion on how removal of lifetime limits and how it eventually dawned on providers that there is no longer a top end cap on their billing for treatment.
So what do you think happened?
One takeaway: want to lower your health care payout? Hire single and young people.
What’s the matter. Making a major medical school and bank rolling the company that revolutionized transportation and standard of living wasn’t enough for you?
Jobless claims at 243k? 43 year low.
Thank you, President Trump!
Defens Muph Guag. Looks like I will be sitting out the governor election too!
By 1879, Rockefeller was the consummate “monopolist,” “controlling” some 90 percent of the refining market.
According to antitrust theory, when one “controls” nearly an entire market, he can restrict output and force consumers to pay artificially high prices. Yet output had quadrupled from 1870 to 1880. And as for consumer prices, recall that in 1870 kerosene cost twenty-six cents per gallon and was bankrupting much of the industry; by 1880, Standard Oil was phenomenally profitable, and kerosene cost nine cents per gallon.
It had revolutionized the method of producing refined oil, bringing about an explosion of productivity, profit, and improvement to human life. It had shrunk the cost of light by a factor of 30, thereby adding hours to the days of millions around the world.
https://www.masterresource.org/epstein-alex/the-real-history-of-the-standard-oil-company-part-iv-pioneering-in-big-business/
John Rockefeller got filthy rich while being instrumental in raising the standard of living of every single American. Without him, America does not become the richest nation in the world.
Johnny Rockafella liked a pinky in the ol’ bung hole now agsin iffn you catch mah meanin.
3:25 what’d he do?
Was Trump’s Twitter hiring?!
Yes, he lowered the price below the level his competition could compete at to take them out. You think he was going to maintain these ultra low prices? You must be naive.
” by 1880, Standard Oil was phenomenally profitable, and kerosene cost nine cents per gallon.”
Hey, if you think it’s smart to give one company access to the entire market of an industry, more power to you. I will still maintain the position that’s it’s no good in the long term.
Bump in lawyer’s employed to investigate Trump’s nonsenses.
You are such a fool that you assert something right in the face of the facts being the opposite. This is why virtually everyone hates you. Your only use is concentrating that idiocy and posing so many fallacies, we know that while you will never learn anything due to your Dunning-Kreuger syndrome, at least other non-idiots can benefit from seeing your idiocy refuted. Try to read and process the data below in your little rattling gourd head.
Contrary to the antitrust expectation, Rockefeller did not artificially restrict supply and dictate higher prices. He neither had nor sought such power. But he did have the power to be very profitable by producing an excellent product at low cost and by selling it at low prices. In 1880, kerosene cost 9.33 cents/gallon; in 1885, 8.13 cents; in 1890, 7.38 cents. As for the industry’s total output, it increased steadily throughout the late 1800s; for example, between 1890 and 1897 kerosene production increased 74 percent, lubricating oil production increased 82 percent, and wax production increased 84 percent.69
The fact that Standard Oil faced such stiff competition and was driven to expand output and lower prices even further demonstrates the myth of Rockefeller’s “control” of the market. Markets are not possessions that one can acquire or control. They are dynamic, evolving systems of voluntary association, in which competing producers have no ability to force customers to buy their product, nor any ability to prevent others from offering their customers superior substitutes.
@ShaunKing
Imagine learning all that we’ve learned about Harvey Weinstein….then electing him President.
That’s exactly what America did with Trump.
realistically, only if he was GOP candidate
Grab them by the puzzy says:
October 12, 2017 at 5:15 pm
@ShaunKing
Imagine learning all that we’ve learned about Harvey Weinstein….then electing him President.
That’s exactly what America did with Trump.
stop complaining and covert your short
chicagofinance says:
October 12, 2017 at 12:29 pm
The level of unchecked cash burn DEMANDS that he be a publicly traded company…….he comes to market each year to raise more money in secondaries…….how this action fails to set off warning alarms is beyond me…..those so diluted should be pissed….
Blue Ribbon Teacher says:
October 12, 2017 at 10:00 am
If you didn’t want to be open to that type of analysis, they should have never made it a publicly traded company.
Grim 2:29 pm. Look at the media ignoring the fact employment situation in USA is best is years maybe generations. The legacy papers blame technology for their their failure and true reason is dumb content.
No One,
Thank you for enlightening me. Did some research and realize I was wrong. Never heard of this other side of the story. Rockefeller was tainted in history by a bunch of sore losers. Have a newfound respect for this man. He was the greatest capitalist to have ever stepped foot on this planet.
“On December 30, 1899, Rockefeller was asked that very question before a governmental investigating body called the Industrial Commission. He replied:
I ascribe the success of the Standard to its consistent policy to make the volume of its business large through the merits and cheapness of its products. It has spared no expense in finding, securing, and utilizing the best and cheapest methods of manufacture. It has sought for the best superintendents and workmen and paid the best wages. It has not hesitated to sacrifice old machinery and old plants for new and better ones. It has placed its manufactories at the points where they could supply markets at the least expense. It has not only sought markets for its principal products, but for all possible by-products, sparing no expense in introducing them to the public. It has not hesitated to invest millions of dollars in methods of cheapening the gathering and distribution of oils by pipe lines, special cars, tank steamers, and tank wagons. It has erected tank stations at every important railroad station to cheapen the storage and delivery of its products. It has spared no expense in forcing its products into the markets of the world among people civilized and uncivilized. It has had faith in American oil, and has brought together millions of money for the purpose of making it what it is, and holding its markets against the competition of Russia and all the many countries which are producers of oil and competitors against American oil.”
I think we need to eliminate the ability to deduct charitable donations. Also eliminate non-profit tax status and religious exemption.
Here, here!