From Otteau Group:
MarketNews October
After four consecutive months of increases, home purchase contracts in New Jersey were basically unchanged during the month of September, increasing by just 0.4%. This is compared to a 12% increase one year ago in September of 2016. Still, the number of purchase contracts last month was the most for the month of September since 2005, signaling continued high demand. Overall, home sales have increased in New Jersey by 5% y-t-d.
While the number of home sales has increased across all price ranges this year, the largest gain has occurred for luxury homes priced over $2.5-Million, rising by 14%, while homes priced under $600,000 have seen the smallest increases. It’s important to note that home sales in excess of $2.5-Million are increasing for the first time in more than a decade. The gains for more expensive homes is attributable to rising confidence among higher income households while slower growth in lower priced homes is the direct result of shrinking inventory.
Shifting to the supply side of the equation, the supply of homes being offered for sale remains constricted, which is limiting choices for home buyers. The number of homes being offered for sale today in New Jersey has fallen to the fewest of the past 12 years, having declined by 6,000 over the past year. This is also about 31,000 (-42%) fewer homes on the market compared to the cyclical high in 2011. Today’s unsold inventory equates to 4.7 months of sales (non-seasonally adjusted), which is lower than one year ago, when it was 5.4 months.
Currently, the majority (90%) of New Jersey’s 21 counties have less than 8.0 months of supply, which is a balance point for home prices. Hudson County continues to experience the strongest market conditions in the state with just 3.3 months of supply, followed by Middlesex, Essex, Union, Monmouth, Passaic, Bergen and Morris Counties, which all have fewer than 4.5 months of supply. The counties with the largest amount of unsold inventory (6 months or greater) are concentrated in the southern portion of the state including Cumberland (6.1), Cape May (6.8), Atlantic (7.5) and Salem (9.8), however, these counties are also beginning to exhibit strengthening conditions.
Interesting to see some sales momentum on the $2.5 million plus homes. Not a surprise to see Hudson County the strongest real estate market in the state – being close to the job growth is what matters in real estate.
From CNBC:
Home prices reach new all-time highs in August
The S&P CoreLogic Case-Shiller home price index rose more than expected in August, hitting an all-time high.
National home prices continued to rise in August, reporting a 6.1 percent annual gain on the S&P’s most broad indicator. This was better than the 5.8 percent increase expected by economists polled by Reuters.
“Home price increases appear to be unstoppable,” S&P Dow Jones indexes managing director David Blitzer said, before adding that national “home prices have reached new all-time highs.”
The latest report was a gain from the 5.9 percent increase in July.
The surge in home prices comes at a time when U.S. share prices have hit record highs. Stocks have been lifted by strong economic growth, a surge in corporate earnings and increasing expectations of tax reform. On Tuesday, stocks traded slightly higher, near all-time highs.
Another key index, which covers home prices in 20 cities across the U.S., registered 5.9 percent in August, up from 5.8 in July.
In rare fashion, in the NY Commuter Tiered Index – Middle Tier was the fastest growing Single Family tier. For years it’s been Low Tier (Under $305k) that showed the fastest price increases. Keep in mind, it’s the low tier that saw the biggest drop during the bust.
Mid Tier clocked in at 6.6% year over year, vs Low Tier at 6.4%.
High Tier (Over $490k), continues to show slow growth at a 3.0% increase YOY. However, High Tier is also showing stronger acceleration over the previous year (when it was 1.2%)
The highest acceleration in Middle Tier, and the fact that it’s now the fastest growing tier, is something worth noting.
Also worth noting, Mid and Low Tier are now growing faster than the very-fast-rebounding CS Condo HPI for NY Metro, which only clocked a 3.9% YOY increase.
Republicans haven’t given up on the “poor states subsidize NJ and CA” nonsense?
Grim, New York area mid tier houses have outgrown overall houses for 19 straight months. Change since peak: New York area condos +18%, New York area houses -12%, Detroit area houses -9%.
I’m talking mid-tier outperforming low-tier, which only occured in the last 3 reports.
Mid-tier has been outperforming Aggregate for quite some time (longer than 19m, but not straight) – but honestly, with the underperformance of the High Tier, that’s not at all surprising.
It’s the flip that’s standing out as atypical, especially now that we have 2 months of revisions in.
It has to be one of the craziest arguments going right now.
grim says:
November 1, 2017 at 7:10 am
Republicans haven’t given up on the “poor states subsidize NJ and CA” nonsense
What a call by pumps, and remember, this housing party is only getting started. When I was yelling and screaming to leverage and buy between 2012-2015, and in 10 years you will do well…..stilll think I’m wrong? Was called an idiot many times for stating that. Only fair that I point it out.
“Home price increases appear to be unstoppable,” S&P Dow Jones indexes managing director David Blitzer said, before adding that national “home prices have reached new all-time highs.”
“Republicans haven’t given up on the “poor states subsidize NJ and CA” nonsense?”
Grim, you’re killing me on this one. Would have expected better from you.
It is a testable, mathematical fact. Two taxpayers, exactly the same gross income, all other items equal except SALT.
The resident of the ‘poor’ state will pay more in Federal taxes than the resident of NJ or CA. Every time.
I ran the numbers here in detail a couple weeks ago in support of this. You do them, please, disprove it.
Otherwise you are just parroting Chuck Schumer talking points. Not a place you want to be……..it’s beneath you lol.
What call Pumps…how much real estate did you buy since 2012?
Trickle down was debunked 30 years ago yet that hasn’t stopped the republicans, and most of the dim bulbs on this page, from championing it as rational economic policy instead of a blatant wealth grab by the rich at the expense of the middle class and poor.
grim says:
November 1, 2017 at 7:10 am
Republicans haven’t given up on the “poor states subsidize NJ and CA” nonsense?
leftwing the problem with your factual statement is a person making the same income in Arkansas vs. NY is that in one place the person is rich and in the other they are not as not only are local taxes higher everything is. It you wanted progressive taxation a regional adjustment makes all the sense in the world because in the south 100k is upper middle class, in SF it is barely scraping by, so it is patently unfair to tax the incomes equally because the person in the high cost area is already struggling with living costs.
JCer, don’t disagree. I recall when I first pushed through phase-outs of deductions and the income level at which it occurred. Felt the same way – not rich enough for the area to have it happen. And trust me I don’t want progressive taxation.
Otto, wtf does trickle down have to do with SALT? The whole source of issues with SALT is the *progressive* nature of our tax system, numbnuts. If the tax code were regressive instead all the facts would be reversed, ie. taxpayers in NJ and CA would actually be paying less in fed taxes than, say, AK.
Funny, Otto, I always put you in the intellectually dishonest liberal crowd here. Knowing better but spouting the party line. Now it appears you are just intellectually incapable. My bad.
Of course in your calculations, you took into account the percentage of federal money that’s allocated back to the states. Right? 40% of Louisiana’s revenues come from the feds while only 27% of NJs does. So we should expect those percentages to match exactly, all things being equal, once the rich states lose their state tax deductions.
“It is a testable, mathematical fact. Two taxpayers, exactly the same gross income, all other items equal except SALT.”
Just more proof that the right is full of idiots who will believe anything. Like if we give rich people more money, power, and unfettered access to destroy whatever they want, one day they will be that rich too.
Sorry, I should have remembered that complex concepts are above your pay grade.
“Otto, wtf does trickle down have to do with SALT?”
If you’ve been following the NJ race for Governor…this is hilarious…
https://twitter.com/NYTnickc/status/925710637317152768
Otto 10:19a. There is no one to argue with here. You see SALT elimination as advancing trickle down? Yeah, OK. The Feds taking MORE money from the HIGHEST earners in the nation advances trickle down. Sure…….
And regarding transfer payments to the states, yes, I accounted for them. The vast majority of transfer payments made directly to the states by the feds are for and on behalf of that state’s citizens, eg, Medicaid.
So I repeat v-e-r-y s-l-o-w-l-y for you again:
If it is important for you that NJ receive more Federal dollars, the answer is very simple. Populate the state with more indigent and elderly. See, that’s because the Feds TAKE money from the wealthy and give it to the POOR and OLD.
Oh which btw, if I’m not mistaken, is the definition of progressive taxation, not trickle down.
Have you reproduced yet? Hope not. If so, please keep it to one offspring as the other numbnut on the board was so gracious to do.
The pick grapefruit is pretty damn funny.
Elimination of SALT would probably blow up the NJ RE market…as well as the political power structure.
Not sure I would miss either.
It looks like high tax states will be offered half a loaf: Real estate tax deduction
Fireworks before 11:00 am and its not because of being mad at Pumpkin? Leftwing is pretty adamant about his stance.
Blue I have not seen this increase in my blue ribbony town. In fact I still see houses selling and or asking prices at or slightly above what they paid for 2004-2006.
Everyone here can thank the NAR and NAHB for that one.
Think of that next time you want to go discount broker lol.
The hypocrisy in standing by trump and then calling out Murphy for not showing tax returns. If I recall correctly, many republicans said it’s none of our business what’s on his tax returns.
Btw, she is resorting to dirty play. Reflection of her character? The character that helped a politician employed under her to double dip by lying about his position. No thanks. She is a proven corrupt politician and you want people to vote for her? I’ll take my chances with the non career political candidate that carries a centrist position.
D-FENS says:
November 1, 2017 at 10:26 am
If you’ve been following the NJ race for Governor…this is hilarious…
https://twitter.com/NYTnickc/status/925710637317152768
Lurks, it’s just fun watching the extreme cognitive dissonance among liberals on this issue.
For so long they have had their hand in your pocket.
Now they are confronted directly with a conflict in their belief of taxing the wealthy and a major hit to their own pocketbook.
The mental gymnastics they perform to reconcile the two is Olympic gold medal worthy.
Lt. Gov. Guadagno breaks with Christie, won’t vote for Trump
http://www.nj.com/politics/index.ssf/2016/10/lt_gov_guadagno_breaks_with_christie_wont_vote_for.html
The Great Pumpkin says:
November 1, 2017 at 10:52 am
The hypocrisy in standing by trump and then calling out Murphy for not showing tax returns. If I recall correctly, many republicans said it’s none of our business what’s on his tax returns.
Btw, she is resorting to dirty play. Reflection of her character? The character that helped a politician employed under her to double dip by lying about his position. No thanks. She is a proven corrupt politician and you want people to vote for her? I’ll take my chances with the non career political candidate that carries a centrist
What a wanker! When you get your head out of your a$$, I’ll waste my time explaining to you why you are lost.
“So I repeat v-e-r-y s-l-o-w-l-y for you again:
If it is important for you that NJ receive more Federal dollars, the answer is very simple. Populate the state with more indigent and elderly. See, that’s because the Feds TAKE money from the wealthy and give it to the POOR and OLD.
Oh which btw, if I’m not mistaken, is the definition of progressive taxation, not trickle down.”
Take from the (Rich) Republicans and give to the (Rich) Democrats.
Leftwing, I think cognitive dissonance is a widespread disease in our nation and should be classified as such. It’d remove a lot of problems. It prevents true solutions from happening and I actually agree with you.
Lurks,
Don’t buy into his bs. So our entire fed budget goes to poor and elderly? Nj lacks poor and the elderly? His position is naive and straight up misleading.
My son tells me lots of trick or treaters last night of all ages ,non-stop in his Jersey City high rise. Just saying.
Numbers up in our neck of the woods.
Just looked at another listing in my town. 4 bed 2 bath 16,000 in taxes sold for 580,000 in 2003. On the market for 500,000 since July. My wife also tells me heavy sellers concessions on houses going to close. And many don’t go through or take multiple times to close.
Ottoman,
Explain how jobs are created.
Stupid pretty quiet by me. Some but not a lot. Supposedly this trunk or treat thing is getting popular.
WINTER PARK, Fla. – A Florida couple gave the world a treat on Halloween – a new Frankenstein. The couple welcomed “Oskar Gary Frankenstein,” who arrived after four days and 14 hours of crazy labor yesterday at Winter Park Memorial Hospital. The proud parents, Mr. and Mrs. Frankenstein, tell news outlets that Baby Frankenstein weighed in at 6 pounds, 9 ounces. It is the Frankenstein family’s first baby born on Halloween. Lots of love and best wishes from the Draculas.
Also, based on lefty’s position, how does he explain that nj pays the most to the federal govt. We are dead last in fed dollars returned. So based on progressive tax rates, we are the richest and most productive state in the nation?
So in one tongue, nj is dying and get out. On another position, we are the most dominant economy in the United States?
Which one is it?
My experience growing up…..never had to go more than one building over in either direction…..my building had 120 units…..the same on either side…
3b says:
November 1, 2017 at 11:22 am
My son tells me lots of trick or treaters last night of all ages ,non-stop in his Jersey City high rise. Just saying.
My kids circled the block once and both had bags packed with candy. We had two bowls filled…almost all gone by the time I brought them back.
The NJ terrorist who mowed down people in NYC came here on this program
Ironic…Chuck Schumer in 2006
https://www.c-span.org/video/standalone/?c4689028
As a Member of the House, I helped create this program, which my colleague, Senator Kennedy, created in the Senate in 1990. It had a very simple purpose, and that was this. Our immigration laws were based on family reunification and certain other qualifications, so there were whole ranges of countries from which people could not get visas,” Sen. Schumer said in May 2006 while opposing an amendment that he said would end “the original purpose of the diversity visa program.”
“So this is an excellent program. Nobody has said it has done a bad job,” the senator said. “As I ride my bike around New York City on the weekends, I see what immigrants do for America. This program has dramatically helped.”
Chgo understand. It was just the observation that there at least appears to be a lot of children in the area of all ages and they have not packed up and moved to the suburbs.
@laurenduca
I miss the simpler times, when Anthony Scaramucci talked about Steve Bannon sucking his own dick
@jesseLaGreca
One asshole Muslim means we must condemn a whole religion but if a Nazi runs someone over there are still “very fine people” on their side
@ezraklein
I disagree with David Brooks’s historical gloss on partisanship here, but there’s something to this:
“Trump’s supporters follow him because he gets his facts wrong, but he gets his myths right.
He tells the morality tale that works for them.” “
3b, I checked out homes that sold in Hoboken in the last two months. One previously sold in 2003. Sales price in 2003 = $445,000. Sales price in 2017 = $816,000. It is a condo on Clinton Street.
Six other recent sales previously sold in 2012 and 2014. Gains: 115%, 100%, 182%, 133%, 79%, 89%.
Stagnation of NJ suburbs is real and I don’t see that changing for a long time. It will get worse before it gets better.
I thought LW did a very nice job illustrating most of the Federal budget (SS and Medicare) is tied to individuals, therefore looking at how much the group of taxpaying individuals who happen to reside in each state as a block serves no purpose. For SS and Medicare, I pay the FICA taxes my whole working life in NY/NJ/Cali/etc. and then receive the benefits while in FL/NV/Costa Rica ;-) What do the States have to do with any part of that transaction?
If you want to look at the rest of the Federal budget and analyze what States receive more/less money then they’re citizens paid, you can then get a better* idea who the winners and losers are…
*Still need to reconcile it at a more granular level for various reasons.
Pura Vida baby!
BRAC, the Ft. Monmouth closure, and resulting $2.5 billion negative economic impact.
Please don’t tell me that NJ is subsidized. This goes way beyond Medicare.
grim,
What are your thoughts on this article?
http://market-ticker.org/akcs-www?post=232508
Suggesting Amazon is engaging in unfair / illegal business practices with respect to their general sales & fulfillment (relying on unrelated divisions like AWS to cross subsidize).
When should we liquidate equities in anticipation of the stock market crash that will happen when tax reform fails?
Asking for a friend.
Yesterday. :P
https://www.cnbc.com/2017/11/01/trump-reportedly-demanding-tax-reform-bill-be-the-cut-cut-cut-act.html
From another client….
Only MINNESOTA SMALL LIBERAL ARTS COLLEGE asked for xxxxx’s name and checked the initial Common App and saw xxxxxx checked off “consider me for aid.” We are told that xxxxxx needs to email MINNESOTA SMALL LIBERAL ARTS COLLEGE admissions and financial aid office and say this was a mistake. Why? MINNESOTA SMALL LIBERAL ARTS COLLEGE is not “need blind” but “need aware” and without quite using these words, xxxxxxx may get extra admissions consideration if she does NOT need grant aid, so given our fortunate position, we need to correct this. Probably true for some other schools too!
Grim, no offense but the us tax code has been a hammock for higher income middle class families in high tax states. No doubt you guys struggle to maintain a high living standard with nice local amenities e.g., good quality schools but a family earning the same exact income in a low tax state pays more Federal income tax therefore the subsidy.
Looks like MID and property tax deductions will remain.
Given the pass through benefits, my balls will be swaying in a silk hammock when this passes.
Thanks Uncle Donald!
Grim, the big question is if this passes…..The property tax deduction is big as is MID, I’m now good with SALT going away, I pay more in property tax than state income tax anyway.
“BRAC, the Ft. Monmouth closure, and resulting $2.5 billion negative economic impact. Please don’t tell me that NJ is subsidized. This goes way beyond Medicare.”
Grim, not really. Medicare, Medicaid, SS, other mandatory spending (food stamps, unemployment) and vet programs accounted for 67% of Fed budget. Interest on the debt was another 7%, for 74% of total spend. These programs dwarf non-discretionary spending like DoD.
Also, if NJ wants more DoD/DoE dollars the single largest line item in that part of the budget to an individual state IIRC was to New Mexico. It was for maintenance of the facilities for the nation’s nuclear waste stored there.
So, if NJ wants more of those discretionary dollars, just raise your hand to make the Pinelands a federal nuclear waste site. NJ will be rolling in Federal dough. Or turn the entire Jersey Shore over to the Feds for a National Park. Ton of Fed dollars will roll in. Think Montana and Yellowstone.
Point being, again, if one were to analyze Federal flows on State basis it is all about demographics. NJ is a State populated with a disproportionate number of high earners relative to its aged and poor. Under a progressive, safety-net tax system it is mathematically impossible for us to receive more Fed dollars than we get.
Now if you want to accept these points and move the discussion to the merits of a flat tax or to scrap the income tax altogether for regressive taxes like sales, gas, and VAT…….I’m on board.
Automation and robotics will require we shift to punitive VAT eventually.
Yo it seems that way.
Looks like the cap on 401k contributions is going to be reduced not to $2400 but apparently half way from the 18k.
The idea that “states” are takers or givers when it comes to federal revenue is simply a marketing tool. States don’t matter in any real sense.
Really? Legislation doesn’t get passed that financially benefits a specific state, region, or industry within that region?
Say, for example, corn ethanol subsidies.
Industry? That could be anywhere. Region? Depends on the reasons, which can affect any state (e.g., disaster relief). I seem to recall that NJ got quite a lot of that not long ago. The fact is, these statistics are calculated using the addresses of the payees and payors. It doesn’t necessarily correlate to economic tail or headwinds in a particular state and has more to do with the makeup of the payors and payees in that state. Things like targeted spending, contracts, migration, and demographics constantly shift what will be the ledger balance for a state under this metric.
Further, how does it really benefit or disadvantage the “state”? Indirectly at best, not at all at worst. It is an accident of geography.
Finally, you talk about legislation that is apparently targeted. Not nearly enough to move the needle when most of that ledger balance is entitlements and defense spending on one side and taxpayer receipts on the other. Rather, the true measure of who wins and who loses is better measured by class, not geography. Under your comparison (NJ versus, say, MS), you’re using geography as a poor substitute for class in order to advance the narrative.
It’s ethanol in one region, depletion allowances in another, MID in another. . . . you can play this game all day.
Nom, 4:51p, exactly what I have been saying.
You much more gracefully, of course.
Grim, specific (pork) legislation doesn’t move the needle against entitlements. Also, if there are meaningful line items their allocation has absolutely nothing to do (nor will it ever) with how much a State’s citizens pay in taxes.
Allocation has everything to do with the juice of that State’s Members of Congress. Senior Member, Ways and Means Committee? Lot’s o’ pork for you. Backbencher on Science and Space Committee? Sorry Charlie.
elections have consequences
Nom and lefty,
“When the Tax Foundation looked specifically at how much of a state’s total revenue came from federal grants-in-aid, the numbers were pretty stark. Both Mississippi and Louisiana relied on federal aid for more than 40 percent of their general revenue. Tennessee, Montana and Kentucky came in just under 40 percent. All are red states.”
“There isn’t a formula as to how much federal money each state gets. Henchman points out that more than 75 percent of the federal budget comprises Social Security, Medicare, Medicaid, social programs like food stamps and defense spending. Social Security is technically a trust fund and not “aid.” The rest of the money allocated to a state depends on the income of the people living there, whether military bases or defense contractors are located there, plus how good its politicians are at bringing home the pork. Eighty percent of federal revenue comes from income tax and payroll taxes.
Henchman is a Californian himself and understands why his Golden State neighbors grumble about subsidizing federal aid programs in other states. For one thing, large amounts of federal spending allow red state governments to keep their taxes artificially low. The highest individual state income tax rate in Mississippi and Alabama in 2016 was 5 percent, while top-earners in California and New York paid 13.3 percent and 8.82 percent respectively.”
Did you catch the part where it states
“plus how good its politicians are at bringing home the pork”
Did you catch this part? How exactly are these states subsidizing nj taxes? Please explain.
“For one thing, large amounts of federal spending allow red state governments to keep their taxes artificially low. The highest individual state income tax rate in Mississippi and Alabama in 2016 was 5 percent, while top-earners in California and New York paid 13.3 percent and 8.82 percent respectively.””
Keeping SALT deductions is a mistake.
Grab 12:54 that is a lame excuse. The Vegas terrorist was homegrown. The guy yesterday we let in to our country from the krap hole of Uzbekistan so yes we need to screen immigrants from Muslim countries. Nobody has a right to come to this country regardless of where they come from,
Then explain why nj is dead last in money returned? How does the game put us dead last by a mile?
Comrade Nom Deplorable, surfacing for air says:
November 1, 2017 at 4:52 pm
It’s ethanol in one region, depletion allowances in another, MID in another. . . . you can play this game all day.
And based on Republican ideology of granting the 1% breaks to spur economic growth. Wouldn’t federal tax dollars better off being spent to bring infrastructure investments in highly productive economic areas like the NYC metro area rather than building bridges to nowhere in Mississippi or some other low cost state?
Think about how many people use the bridges, tunnels, and mass transit in our area. How can you justify taking capital and spending it on a road or bridge that maybe 500 people use in a day at the expense of infrastructure that is used by millions in a day. What a waste of money and valuable resources these low cost states are.
“Keeping SALT deductions is a mistake.”
130 years of having the deduction in place were a mistake?
Or is it just a mistake now that the republicans can finally punish the coastal states?
Why can’t there be meaningful discussion about eliminating charitable contributions? Why is the government subsidizing this?
Got nothing to do with the fact that the Bible Belt would suffer.
Gates and Buffett would contribute the same, tax benefit or not.
But stupid megachurches probably wouldn’t survive the cut.
But the republicans wouldn’t dare touch that. Bible says to give in a way that no one knows you gave. Donating for a tax deduction goes against this.
That’s why china is kicking our a$$ in infrastructure. They overwhelmingly spend on infrastructure in their most productive economic areas. Why we don’t is due to red state federal politicians/lobbyists sucking the most productive areas dry, forcing them to raise state taxes to find the money to invest in these projects. No wonder the projects never get completed, no state politician wants to raise taxes on an already high taxed area. So it falls apart till there is an emergency, like the tappan zee bridge. Then and only then is it fixed.
I’m sorry, between the 2.9 billion transfer of wealth from nj to ny and the raping by the federal govt of nj, it’s absolutely insane how much this state pays for the rest of the country. Then they have the nerve to say we have high taxes? And people like lefty claim we are being subsidized by poor red states? Wtf?
Give some credit to NJs profligate corruption and ineptitude.
China has massive corruption, but they still get stuff done. It’s time for the federal govt to take some of that defense spending and start spending on nyc metro area upgrades to the infrastructure in the name of national defense. If this area falls (economically), the rest of the country is screwed. It’s in all our best interests that this area gets the federal investment it deserves.
re: “Asking for a friend.”
Not enough froth, although I did hear a drug dealer with an LLC buying up condos in NYC today.
Folks next bubble has to be bigger than the last….history does rhyme.
This time we have housing and the stock markets converging to make a newer and bigger type of bubble. When is the last time you saw that?
Wow, you are finally in agreement with me. Roaring 20’s 2.0. This will be the biggest economic boom of our lifetime.
Juice Box says:
November 1, 2017 at 8:22 pm
Folks next bubble has to be bigger than the last….history does rhyme.
This time we have housing and the stock markets converging to make a newer and bigger type of bubble. When is the last time you saw that?
So do I just hold cash in 2030?
re:”:Wow”
Listen Pumps I only harang you when you deserve it.You better strap in is my warning.
And the answer my own question “when is the last time you saw that?”
late 80’s….
Party, because this one ends in nuclear annihilation.
But you tell me over and over and over again, my friend
Ah, you don’t believe we’re on the eve of destruction
Juice well if that’s the case then there will be a real Nast hangover far worse then the last one. It might even bring it all crashing down like it almost did last time. Nothing to cheer about in my mind.
Looks like the cap on PRE-TAX 401k contributions is going to be reduced not to $2400 but apparently half way from the 18k.
You will still be able to ROTH 401(k), which may not help your current taxable income, but is a NICE perq…..
3b says:
November 1, 2017 at 4:24 pm
Looks like the cap on 401k contributions is going to be reduced not to $2400 but apparently half way from the 18k.
Chgo what is the point of evening camping it when I suspect many who are eligible age wise don’t stash away anything near that.
And if it is annihilation the young generation will get whacked yet again.
Grim – not sure if I hear ya!
3B – the issue is can you possibly convince them to sell?
RE”Chgo what is the point of evening camping it when I suspect many who are eligible age wise don’t stash away anything near that.”
Can I give everyone a PONY?
Juice Just in general they will pay.
I love ya all, but the math says differently……