One step closer

From CNBC:

Senate GOP clears another hurdle on the way to tax reform vote

The Senate moved Wednesday to start debate on the Republican tax bill, a key step toward a vote this week to dramatically change the American tax system.

The 52-48 party line vote to proceed starts up to 20 hours of frenzied debate on the tax plan. Following that period, lawmakers will vote on a series of proposed changes.

The Senate is expected to then take a final vote on the bill by Friday. Republicans could make major changes to the proposal before the vote.

Every Republican who had expressed doubts about the bill voted to move to debate. However, it does not mean they will necessarily support a revised, final plan.

The biggest shift could be adding a “trigger” mechanism that would raise taxes if U.S. economic growth doesn’t generate as much revenue as expected from the tax overhaul. The tool, designed to appease senators concerned about deficits, has sparked resistance from several GOP senators. Most of those lawmakers have suggested their opposition to the trigger will not make them vote against the bill.

Other tweaks to appease skeptical senators reportedly include increasing the tax deduction for pass-through businesses. They could also add in limited state and local tax deductions, which are entirely scrapped under the current Senate proposal.

Some GOP senators who only days ago appeared reluctant to support the bill voted to advance it. Lawmakers had expressed skepticism about issues including deficits generated by tax cuts, the bill’s treatment of pass-through businesses and its effective repeal of Obamacare’s individual mandate.

Republicans, with 52 seats in the Senate, can only lose two votes and still pass the plan with the simple majority required under special budget rules. That assumes all Democrats and independents, as expected, vote against the plan.

GOP Senate leaders appear confident that they have the votes to approve it

If the chamber passes its bill, lawmakers will have to reconcile their plan with separate legislation passed by the House. The chambers will have to decide on how to handle multiple key differences, including the treatment of popular state and local tax deductions.

This entry was posted in National Real Estate, New Jersey Real Estate, Politics, Property Taxes. Bookmark the permalink.

100 Responses to One step closer

  1. Mike says:

    Good Morning New Jersey

  2. Grab them by the puzzy says:

    @MichaelSLinden

    Oh and by the way, 15 million households get a tax increase in YEAR 1 under the Senate GOP bill, while the richest 0.1% get an $85k tax cut. And it increases health care premiums, and it cuts Medicare.

    So let’s not pretend that everything is hunky dory before 2027.

  3. Hold my beer says:

    Will llc owners be able to expense strippers and mistresses?

  4. Grab them by the puzzy says:

    @mfullilove

    ‘It is hard to be truly outraged by Trump anymore, given his daily track record of transgressions, but it is important that we not lose our capacity for outrage lest we start to accept the unacceptable.’

  5. Grab them by the puzzy says:

    @domphillips

    Donald Trump shared tweets from notoriously racist, ultra-right British group then rebuked British PM when she objected.

    This is deeply shocking, unprecedented and impossible to justify.

  6. ExJerz says:

    “A small business person has Uncle Sam as a partner, a partner who puts up no money, does no work, and wants 30 or 40 percent” — Irwin Schiff

  7. Grim says:

    T-REX – wow … yes

  8. Grab them by the puzzy says:

    Irwin Allen Schiff (February 23, 1928 – October 16, 2015)
    was an American tax protester[1] known for writing and promoting literature in which he claimed the income tax in the United States is illegal and unconstitutional. Judges in several civil and criminal cases ruled in favor of the federal government and against Schiff. As a result of these judicial rulings, Schiff was serving a sentence of at least 13 years for tax crimes at the time of his death. The Federal Bureau of Prisons reported that Schiff died on October 16, 2015.[2] Schiff was the father of businessman and former United States Senate candidate Peter Schiff.

  9. The Great Pumpkin says:

    Kind of investment we need. Going to turn the nyc metro area into a beast of an economy.

    Grim says:
    November 30, 2017 at 8:08 am
    T-REX – wow … yes

  10. Fast Eddie says:

    What is meant by T-REX and investments? I don’t understand.

  11. Hold my beer says:

    So who will get taken down next? Chris cuomo, Joe Scarborough? Tarantino?

  12. Juice Box says:

    rex_make_our_commuting_headaches_extinct.html

  13. Juice Box says:

    Meh just take a look at nj.com for the T-Rex transit plan

  14. D-FENS says:

    @guypbenson
    Follow Follow @guypbenson
    More
    NYT editors, today: GOP tax reform doesn’t help the middle class.

    NYT news analysis, yesterday: Virtually every single middle-income taxpayer who takes the standard deduction (70%! of filers) will get a tax cut, as will a substantial majority of those who itemize.

    https://twitter.com/guypbenson/status/935984023997779969

  15. D-FENS says:

    http://www.nj.com/traffic/index.ssf/2017/11/could_the_t-rex_make_our_commuting_headaches_extinct.html#incart_2box_nj-homepage-featured

    Fast Eddie says:
    November 30, 2017 at 8:28 am
    What is meant by T-REX and investments? I don’t understand.

  16. The Great Pumpkin says:

    One hundred dollars is not a tax cut. Wish they would stop calling this a tax cut already. Only people seeing a real tax cut are corporations and billionaires.

    “NYT news analysis, yesterday: Virtually every single middle-income taxpayer who takes the standard deduction (70%! of filers) will get a tax cut, as will a substantial majority of those who itemize.“

  17. joyce says:

    Are you saying only 30 million people pay income taxes in this country?

    Grab them by the puzzy says:
    November 30, 2017 at 7:43 am
    @MichaelSLinden

    Oh and by the way, 15 million households get a tax increase in YEAR 1 under the Senate GOP bill,

    Grab them by the puzzy says:
    November 29, 2017 at 8:13 am
    @tonyschwartz

    Tax cut will lead to more taxes for 50% of taxpayers.

  18. 3b says:

    So SALT will be gone. Property tax deduction limited to 10k. MID capped at 500k and home equity loans no longer tax deductible. And all I hear is crickets. No one I know has even mentioned any more of this. It’s like it’s not happening.

  19. chicagofinance says:

    Dude……same fcuking place it has ever been…….only your perception has changed…..
    “Sunlight is said to be the best of disinfectants; electric light the most efficient policeman.” Louis Brandeis

    The Great Pumpkin says:
    November 29, 2017 at 9:01 pm
    Society as we know it is dead. A new one is being born right before our eyes.

  20. Fast Eddie says:

    DOW 24,000

    Thank you, President Trump!

  21. Ottoman says:

    The tax increases for second class citizens AKA non corporations go up incrementally over 10 years. Both statements can be true since only one references Year 1. Reading comprehension is important.

    joyce says:
    November 30, 2017 at 9:12 am
    Are you saying only 30 million people pay income taxes in this country?

    Grab them by the puzzy says:
    November 30, 2017 at 7:43 am
    @MichaelSLinden

    Oh and by the way, 15 million households get a tax increase in YEAR 1 under the Senate GOP bill,

    Grab them by the puzzy says:
    November 29, 2017 at 8:13 am
    @tonyschwartz

    Tax cut will lead to more taxes for 50% of taxpayers.

  22. Ottoman says:

    What someone with zero understanding of economics would say…

    Fast Eddie says:
    November 30, 2017 at 9:33 am
    DOW 24,000

    Thank you, President Trump!

  23. Ottoman says:

    Lol dumdum. Tax cuts for individuals are heavily front loaded for the first couple of years. Your twitter guy here fails to mention the times goes on to say most people will be paying higher taxes in 5 to 10 years thanks to this give away to corporations.

    D-FENS says:
    November 30, 2017 at 8:37 am
    @guypbenson
    Follow Follow @guypbenson
    More
    NYT editors, today: GOP tax reform doesn’t help the middle class.

    NYT news analysis, yesterday: Virtually every single middle-income taxpayer who takes the standard deduction (70%! of filers) will get a tax cut, as will a substantial majority of those who itemize.

    https://twitter.com/guypbenson/status/935984023997779969

  24. Libturd, AKA Dr. Howie Feltersnatch says:

    ” Virtually every single middle-income taxpayer who takes the standard deduction (70%! of filers) will get a tax cut, as will a substantial majority of those who itemize.”

    Define middle income! It’s fake news. How about this stat. Every single person in the top 1% will get a tax break. Every single one of them itemize. Why?

    Can’t answer this now can you? Blowhard!

  25. Fast Eddie says:

    What someone with zero understanding of economics would say…

    Tell that to my bank account.

  26. grim says:

    No one I know has even mentioned any more of this. It’s like it’s not happening.

    Nobody ever became a millionaire overestimating the intelligence of the average American.

  27. Libturd, AKA Dr. Howie Feltersnatch says:

    Peter Gabriel
    milgram’s 37
    we do what we’re told
    we do what we’re told
    we do what we’re told
    told to do
    we do what we’re told
    we do what we’re told
    we do what we’re told
    told to do
    one doubt
    one voice
    one war
    one truth
    one dream

  28. leftwing says:

    “It is hard to be truly outraged by Trump anymore, given his daily track record of transgressions, but it is important that we not lose our capacity for outrage lest we start to accept the unacceptable.”

    I am absolutely not a Trump supporter but I love it.

    The Left for so long has run amok with damaging and hypocritical policies, relying on the good will and conservatism (lower case c) of the Right to not call them out or give it back to them.

    Deficits? The Right tried to control spending, the Left spent with such reckless abandon that calling them drunken sailors would be libelous to drunken sailors.
    Now? Pile on the deficit, but for the Right’s policies. LOL, tables turned.

    PC Affirmative Action? Take the Left’s racist based admission policies and turn them on their head, with Justice suing Harvard for discriminating against qualified Asian-Americans. LOL, tables turned.

    Trump is batsh1t crazy, but at least he’s forcing the Repubs to grow a set of balls and leave the gentile country club mindset behind to counter the Left’s historical hypocrisy and theatrics by sinking to their level.

    Throw more popcorn in the machine, and get me another pillow.

  29. joyce says:

    No matter how many car buying articles I read, Edmunds etc., that talk about buying cars [mostly] using the internet, I’ve never had a dealership respond with substance via email. Just generic emails or short sentences saying when can you come in. My favorite is when you click ‘Preferred Method = Email’ and they call you 20 minutes later.

  30. joyce says:

    How have the government’s past assumptions and prognostications regarding 10 years into the future turned out generally? I struggle with comprehension, so please re-read them and let me know.

    Ottoman says:
    November 30, 2017 at 9:54 am
    The tax increases for second class citizens AKA non corporations go up incrementally over 10 years. Both statements can be true since only one references Year 1. Reading comprehension is important.

  31. D-FENS says:

    They’re multinational corporations anyhow, that have all completed inversions. They don’t pay taxes in the US today at all. 20% of something seems better than 35% of nothing.

    But you’re right, we’ll likely have a new legislature by then, loaded with Democrats that will not renew the cuts for individuals.

    Ottoman says:
    November 30, 2017 at 10:01 am
    Lol dumdum. Tax cuts for individuals are heavily front loaded for the first couple of years. Your twitter guy here fails to mention the times goes on to say most people will be paying higher taxes in 5 to 10 years thanks to this give away to corporations.

  32. chicagofinance says:

    Use Costco, then sign up at True Car, ignore everything, use True Car to get invoice pricing and local ranges of price, go to the Costco directed dealership, and bargain down from there……..

    joyce says:
    November 30, 2017 at 10:52 am
    No matter how many car buying articles I read, Edmunds etc., that talk about buying cars [mostly] using the internet, I’ve never had a dealership respond with substance via email. Just generic emails or short sentences saying when can you come in. My favorite is when you click ‘Preferred Method = Email’ and they call you 20 minutes later.

  33. chicagofinance says:

    3 hours of work max…… you won’t get Stu pricing, but it is the 80/20 rule, and should be sufficient to help you feel that your due diligence get you a top 10 percentile price, if not the top percentile…..but everyone’s time is valuable (except Stu’s)

  34. chicagofinance says:

    Jurisprudence (clot Edition):
    A grieving dad set off two grenades at the trial of his son’s alleged killers in Ukraine on Thursday – killing himself and injuring several other people, according to reports.

    The explosions rocked the courthouse in Nikopol, in the eastern Dnipropetrovsk region, and wounded at least seven people, The Sun reported, citing the Kyiv Post.

    Three defendants were among the wounded, according to police.

    “Today, on November 30, at 11:20, in the Nikopol court, during a hearing of the case on murder, the father of a victim pulled out two grenades and blew them up,” police said in a statement.

    “The man died on the spot after the explosion. Three defendants, two convoy officers, a court employee and a civilian were injured. All victims were taken to the hospital.”

    Images from the scene showed the blood-splattered walls inside the debris-strewn courtroom, where a door was left hanging off its hinges and windows were shattered, the UK’s Express reported.

  35. Libturd, AKA Dr. Howie Feltersnatch says:

    Yup. You’ll waste the last 4 hours trying to get that last $250-$400. It’s really not worth it, unless you love the sport of Jewing. :P

  36. Libturd, AKA Dr. Howie Feltersnatch says:

    When you sign up with True Car, give a wrong phone number and comment that you only prefer to be contacted via email. They’ll email you once they realize you gave a fake phone number. Never, give a car dealer your telephone number.

    NEVER PAY FOR THE ETCHING!

  37. Libturd, AKA Dr. Howie Feltersnatch says:

    Chi…if somehow this tax reform doesn’t pass. How much do you see this market dropping?

  38. abeiz says:

    Jewing®

    taken.

  39. abeiz says:

    “NEVER PAY FOR THE ETCHING!”

    his passion almost oozes through the screen

  40. Libturd, AKA Dr. Howie Feltersnatch says:

    HA HA

  41. Hold my beer says:

    Don’t pay for a documentation fee either. Car dealers wanted a $100 for that.

  42. Fast Eddie says:

    What about the 2% to 3% for the charge back fee… the price to keep the car on the lot? Real estate agents, car dealers, all the same.

  43. joyce says:

    $100, haha – all dealers I know try for $350 and up.

  44. Libturd, AKA Dr. Howie Feltersnatch says:

    Are you guys watching this market?

  45. Libturd, AKA Dr. Howie Feltersnatch says:

    Dow is well on it’s way to 25K. I think I’ll be taking a bit more off the table soon.

  46. Hold my beer says:

    Wait till everything is written up. When you look at the itemized invoice act real disgusted and offended about the doc fee and threaten to walk out

  47. Hold my beer says:

    Also if you are financing the dealer will try to make the first payment in 45 days instead of 30 so they can nick you for a few more dollars a month.

    They also like to transpose numbers for the interest rate. My wife was financing a car and not only did they try the first payment in 45 days routine, but the 2.59% rate was written up as 2.95. The finance guy laughed about dyslexia strikes. I bet dyslexia strikes that guy every deal or a 2.59 rate goes through at 3.59.

  48. Nomad says:

    Joyce,

    I’ve used the Edmunds service several times with success. Its been a couple of years but I may be in the market again shortly.

    I have a secondary email I use for the dealer to contact me and I input a bogus ph # and tell them explicitly it is not an active ph #. You need to know exactly the car you want, with your first 2-3 color preferences and be prepared to take whats on the lot. You also need to know exactly how you are going to pay for the car; cash, financing or lease so they can quote you.

    The last car I got was a lease and the monthly payment was $125 lower than the going rate and the $2999 most were paying up front I did not pay and I did this in a few minutes on my computer. My timing was good as it was not like I negotiated them down – ultimately I took the best offer to a dealer I had been using for service via email and told them the car and price I would pay and if they agreed to it, I would be over to their place within 90 minutes. Guy hated me but I got the car and at the end of the lease, I bought it for a little more than $6k below market value. Previous car I got great price online, went to dealer that gave me test ride and told them if they matched it, I would give them $200 for the test drive & sales persons time – they wouldn’t do it and I went to the dealer with the low quote and got the car.

    Lib, you’ll get a chuckle out of this, called independent mechanic with a religious bent on his web site (g-d fearing…) tried to charge me for an estimate on a brake job. Life in the Garden State…

  49. Libturd, AKA Dr. Howie Feltersnatch says:

    Charged for an estimate? Fuggedaboudit.

  50. Nomad says:

    Lib, I think the market will hump along until 2018. Q1 will be interesting. What I don’t understand is that when it corrects, and it will, how do the ETFs rebalance during the trading day in a rapidly declining market when the HFT crowd is getting in front of them? The snowball will be starting out large on top of a steep hill.

  51. Libturd, AKA Dr. Howie Feltersnatch says:

    We’ve gone over buying cars before.

    Keep the financing, the sale price of the car and the trade separate. They will always ask about the financing and the trade long before the sale price is determined. If you have a trade, tell them that you usually sell them yourself, but would be willing to trade if the price was reasonable. I know it seems obvious, but you have to keep them guessing. You should know about their best financing offers long before you step in the door because they are easy to find online. Compare to local banks. Many times they’ll offer you cash back if you don’t finance through them. Ask about it. I’ve only financed through the dealers if the rate is .5% or lower. Perhaps it’s my 830 credit score they like?

  52. Libturd, AKA Dr. Howie Feltersnatch says:

    Nomad…that’s a good question. I was partially fukced by the rebalancing during my SRS days. Right now I’m 15% non-stock. Gonna go to 25% on Friday. I give this tax reform a 75/25 chance of passing. I like my money to be with the line. After it does pass and the market celebrates, will probably slowly take some off the table. The tax reform might take a while to implement.

  53. Nomad says:

    Lib,

    Great idea about the trade.

  54. Nomad says:

    Markets artificially juiced by cheap money and financial engineering. Look at labor force participation rate at historic lows, lots of people not working or working for a lot less $$ than they had been in the past. Entitlement programs combined w aging population (Accelerating Healthcare Costs), pension debacles; NJ, IL, Dallas, etc. Infrastructure that is rotting. Average car loan is now 72 mos, student debt if off the charts. Our nation has not been in this position before. Maybe Uncle Sam can continue to borrow money. I’ve often asked others who opine that things are fine if they believe there is a point at which more debt breaks the camels back and I’ve never received a good answer. PS – on the car thing, auto analyst at BOA says used car prices could drop by 50% the next couple of years with so many off lease vehicles. Obviously, new car lease residuals would get annihilated making lease new exponentially more expensive. Used cars are now getting leased.

  55. Libturd, AKA Dr. Howie Feltersnatch says:

    interesting on the cars. They do go through these cycles.

  56. joyce says:

    My issue probably is that I’m looking at a 2 year old used car. There’s a few I like (at different dealerships). Thus far all have refused to respond via email with the total cost including fees. I said I have my own financing, no trade – please tell me the full cost. Nada.

  57. Nomad says:

    According to a friend who used to be pretty far up the food chain in finance at one of the big three, its going to be a blood bath with some intense M&A to survive with smaller players getting picked off at a big discount. Volvo better be right about their electric car bet.

  58. Daddy Deported says:

    I bought my kids Irwin Schiff’s book when they were in first grade. It’s really written by Peter but it was Irwin’s story:

    https://www.amazon.com/How-Economy-Grows-Why-Crashes/dp/047052670X

  59. Nomad says:

    Joyce, shopping online for used is going to be difficult. That I have never done. Is there a specific model or two you are interested in?

  60. Libturd, AKA Dr. Howie Feltersnatch says:

    Joyce…Used car guys are the worst. You have no choice but to go in person. They have zero incentives to work with. The new car guys have the craziest compensation structure. Besides the standard commission, corporate has all kinds of volume incentives which allow them to cut the profit on individual cars. With used cars, it’s pretty much the negotiation where ALL the compensation is made. Yes, you’ll find the best deals at about three or four year old cars (many came off lease). Unfortunately, to get the best deal requires tons of legwork.

  61. Hold my beer says:

    Joyce,

    You also need to watch out for water damaged cars. The shop I go to said more than half the used car inspections they’ve done in the last few months were cars that had been in a flood.

  62. grim says:

    On the used car side, in my opinion you are always better off negotiating for a dealer demo car as opposed to a used car trade in.

    Done this a few times and they’ve been relatively confident transactions. Typically, you are dealing with the new car team that are just trying to move a used unit. Generally they have tons of room to negotiate, since they typically bought the car sub invoice. They are generally very low miles cars, generally only a year old.

  63. joyce says:

    Hold my beer,
    I guess from all the hurricanes.

    Grim,
    How do you go about searching for available demos?

  64. Nomad says:

    Some of the used car risk can be removed with CarFax and reputable dealers use it and frequently provide it at no charge on each car they sell. CarFax also has I believe salvage title information as well. With the Hurricanes, flooded cars will make their way into the market. Don’t buy anything that wasn’t originally bought at the dealer selling it. Said another way, if the dealer gets it from one of the auctions, i.e. Manheim, stay away. While I have never seen a dealer alter a car fax (not sure how they could even do it) I would not put it past them. A car purchased with CarFax information can be registered with them for a one year buy back guarantee at no charge. Now idea how well they would back up the guarantee.

  65. Grab them by the puzzy says:

    actually have the record. will play it tonite

    Libturd, AKA Dr. Howie Feltersnatch says:
    November 30, 2017 at 10:28 am
    Peter Gabriel
    milgram’s 37
    we do what we’re told
    we do what we’re told
    we do what we’re told
    told to do
    we do what we’re told
    we do what we’re told
    we do what we’re told
    told to do
    one doubt
    one voice
    one war
    one truth
    one dream

  66. Daddy Deported says:

    If you want to think outside the box for purchasing a quality used car try cold-calling some churches. The priest/pastor/church secretary may have a car they would like to sell or they may know a parishioner who is in financial need and has a car to sell. I bought an absolutely perfect 2008 Kia Sedona minivan (250 hp v6!) with 40,000 miles 3 months ago. You might wonder how a car that old can only have 40,000 legitimate miles. It belonged to a Jesuit monastery. They wanted $6,000 and I offered $5,600 cash and they took it.

  67. chicagofinance says:

    Best deals in NJ right now are larger sedans…….everyone wants crossover, SUV, mall cruiser, because there is great confidence that gas prices are low and will PERSIST at low levels……..

    FYI – Costco pricing plus negotiation got me a better deal on a new 2017 (62 miles), than a used 2017 on the road for a year with 14,000 miles on it…… I didn’t bargain on the demo car though…..

    Libturd, AKA Dr. Howie Feltersnatch says:
    November 30, 2017 at 1:33 pm
    interesting on the cars. They do go through these cycles.
    joyce says:
    November 30, 2017 at 1:34 pm
    My issue probably is that I’m looking at a 2 year old used car. There’s a few I like (at different dealerships). Thus far all have refused to respond via email with the total cost including fees. I said I have my own financing, no trade – please tell me the full cost. Nada.

  68. chicagofinance says:

    Used cars….. take internet price from dealership then subtract $500 from Costco…..note, Costco has the one dealership it will direct you to……negotiate from there…..

  69. chicagofinance says:

    There will be dips, but don’t assume upcycle is broken until 10Y goes north of about 2.9%……. find investment grade floaters on damaged credits for fixed income in lieu of bonds…… floating preferreds too if you know how to profile credit risk……

    Libturd, AKA Dr. Howie Feltersnatch says:
    November 30, 2017 at 12:56 pm
    Dow is well on it’s way to 25K. I think I’ll be taking a bit more off the table soon.

  70. Daddy Deported says:

    BTW, I found out yesterday that our Kia has an alarm that I didn’t know about. I went into a CVS with one daughter, my wife went to a different store and one daughter stayed in the car. My wife got back to the car first and when my daughter opened the door from the inside the alarm went off. I guess the car knows that if you locked the car with the key fob the doors shouldn’t be opened from the inside…like if you broke a window and reached in to open a locked door, I guess.

    Another cool feature is that the car won’t let you go over 5mph without chiming away if you left the parking brake on or a door is ajar.

  71. Juice Box says:

    FUK – company just cancelled 409k plan match do to “uncertainty”of the newe tax law. I am going to have to find a new way to save….

  72. Daddy Deported says:

    A lot of people forget that the Tech bubble wasn’t just a speculative bubble. It also happened at a very special time, a time of very low and steady inflation—just like now. This special circumstance allows stocks to really stretch their valuations, just like 1999. I can’t even hazard a guess as to whether inflation or deflation moves us out of this range, but either direction will knock down the market. As of yesterday’s close only 141 of the S&P 500 stocks are at 52 week highs, but more importantly, only 70 S&P 500 stocks are at even 1 *month* lows (also in the last 5 sessions). That’s hardly blow-off top territory. If you look at the next tier, the MidCap 400, it’s very similar (and without the FAANG and chip noise). In the MidCap 400 99 stocks are at 52 week highs and 46 stocks are at 1 month lows.

    Bottom line: I don’t see an immediate end to this bull and if it does end at levels like this, it will be a slow roll-over like Fall of 2007.

  73. Daddy Deported says:

    Caveat: If you are in ETFs, all it takes is one of the big guys to bring you down a whole lot. I don’t own any of the big ones right now except for NVDA and AAPL.

  74. 3b says:

    Juice what impact would the new tax law have on 401k matches?

  75. 3b says:

    Daddy and what in your opinion happens to real estate in all of this?

  76. 3b says:

    Question I was asked and don’t know do Catholic school teachers pay social security taxes and get a pension?

  77. Daddy Deported says:

    What kind of RE and in what location? I believe in wash out/wash in. We’ve had multiple generations of suburbanization (wash out) and I think it’s about done so we’ll see multiple generations of urbanization (wash in). The biggest losers, IMO, will be SFH mortgagors in areas far from “the city”. Pumps thinks he is golden because he looks inward toward NYC and sees all the “good” towns but fails to realize that the “bad” towns start the next town further away.

    When my kids have their friends over to “watch TV”, what they really do is watch their phones and listen to the TV (reruns of Parks and Rec, The Office on Netflix, they haven’t watched a TV channel by choice in a year or more), so I’m thinking “big” spaces are out and small spaces are in. I don’t see them Ubering from the suburbs in the future, they’ll be living in the urbs.

    There’s only two places I want to live: In a city or on a beach.

    Daddy and what in your opinion happens to real estate in all of this?

  78. Daddy Deported says:

    Stock Market factoid:

    Years since 1929 when December was the worst performing month of the year: NEVER

  79. abeiz says:

    “Another cool feature is that the car won’t let you go over 5mph without chiming away if you left the parking brake on or a door is ajar.”

    Is this your first car, or are you kidding?

    Next you’re going to tell us that seat belts pretension themselves.

  80. 3b says:

    Daddy it’s the way I think things are going to. Just thinking going forward of what we might do. I am just surprised silence on this whole tax reform thing. I think it’s going to impact real estate even for mortgages under 500k. Also know a couple of people of modest income making some big bets on real estate appreciation and they ain’t no spring chickens. Don’t know how they will sleep at night.

  81. Yo! says:

    Change in median house price year to day through October

    Hudson +9%
    Bergen +5%
    Passaic +4%
    Middlesex +4%
    Ocean +4%
    Morris +3%
    Monmouth +2%
    Union +2%
    Atlantic +2%
    Hunterdon +1%
    Essex 0%
    Somerset 0%
    Camden -1%
    Mercer -2%
    Sussex -2%
    Cape May -2%
    Burlington -3%
    Warren -4%
    Salem -5% *
    Cumberland -5%
    Gloucester -6%

    * In October, median house price across 52 closed sales in Salem County was $77,000 – not $177,000, but $77,000.

  82. chicagofinance says:

    I guess your company is going into the sh!tter, because that is some weapons grade bullsh!t right there…..

    Juice Box says:
    November 30, 2017 at 2:48 pm
    FUK – company just cancelled 409k plan match do to “uncertainty”of the newe tax law. I am going to have to find a new way to save….

  83. 3b says:

    There is some cheap real estate in Gloucester County!

  84. Hold my beer says:

    Salem County has lost 5% of its population sinc 2010. I am surprised it hasn’t attracted those 55+ communities. People could swap their 500k pos cape for a 150k ranch. Net 350k plus social security and whatever savings they have and lead a decent life. Of course they would be in Salem County. Maybe a condo in Florida would be better.

  85. Grab them by the puzzy says:

    @ianbremmer

    Trump: “If retweeting extremist videos is wrong, I don’t want to be right.”

  86. Grab them by the puzzy says:

    @SamCoatesTimes

    🇬🇧Donald Trump is facing unprecedented criticism in the Commons chamber today. MPs calling him “fascist”, “stupid”, spreading “evil” and “racist or incompetent or ignorant or all three” – remarks of a vehemence never heard before about a US president in the UK Parliament 🇬🇧

  87. ExJerz says:

    Essex “o” ytd increase. Further proof we got Lucky.

  88. Juice Box says:

    “I guess your company is going into the sh!tter”. Yup I have a few lines cast for a new gig.
    It’s been a good run after nearly 17 years. It has been fun watching countless management grade A a-hole wanna be world beaters sent packing, sent screaming and generally gone off the deep end and yet I am still here. I don’t think I will stay for the breakup, chair throwing and possible gunfire however.

  89. Daddy Deported says:

    My previous cars have lights in the dash cluster that tell you if the door is ajar or if the Parking Brake is on and this car is no different. I haven’t had one that gives an audio chime that only starts after you gain a few mph.

    “Another cool feature is that the car won’t let you go over 5mph without chiming away if you left the parking brake on or a door is ajar.”

    Is this your first car, or are you kidding?

    Next you’re going to tell us that seat belts pretension themselves.

  90. Yo! says:

    Chicago finance pls stop posting links to YouTube vids – tks

  91. 3b says:

    So will we ever see 7 percent mortgage rates again?

  92. Njescapee says:

    7 percent mortgage will cause a lot of pain if and when it should arrive

  93. 3b says:

    NJ escape yes they will. Interesting to see how that turns out. They can’t stay low forever .

  94. Anon E. Moose, Ghost of JJ says:

    Just thought I’d stop back and say “HI!” in honor of dusting off my “Dow 24,000” cap!

  95. Yo! says:

    Chicagofinance when I said that name Linda gasped “yes!” Then fell on me with her mouth wiiide open

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