From NJ101.5:
NJ foreclosure rate tops the nation in 2017, report finds
Nationwide, the seven counties with the worst foreclosure rates are right here in the Garden State.
According to online real estate tracker ATTOM Data Solutions, New Jersey had the highest rate of foreclosure activity among the 50 states and D.C. in 2017 — 1.61 percent of all housing units, compared to a rate of .51 percent nationally.
The report pointed to 57,559 New Jersey properties with a foreclosure filing — default notices, scheduled auctions or bank repossessions — in 2017.
While the nation hit an 11-year-low for the number of homes repossessed by lenders, New Jersey reached an 11-year-high in the same category, experiencing a 19 percent increase from 2016.“That’s where homeowners are actually losing their homes,” said Daren Blomquist, ATTOM senior vice president. “Those properties then hit the market, which in many cases can be a drag on the market because they’re often distressed properties that sell at a discount.”
New Jersey also ranked among the worst states for the average time it takes for a foreclosure to move from start to finish (1,298 days), and the share of loans in foreclosure that originated between 2004 and 2008 (20,172), known as legacy loans.
…
New Jersey’s foreclosure rate fell 13.56 percent between 2016 and 2017. But the counties of Atlantic, Burlington, Camden, Cumberland, Gloucester, Salem and Sussex posted the seven worst rates in the nation.
Good Morning New Jersey
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We have a plan….
https://www.youtube.com/watch?v=aCbfMkh940Q
Jeez, the individuals drowning in pessimism need to move to these low cost locations so they can realize how ignorant they really are. You are so focused on cost, that you forget about everything else. Moving from a wealthy high cost location to a low cost location is like going from the ritz to some cheap motel. You guys are completely blinded by pessimism and an obsession with lowest cost over quality.
I dare you to move and then come on this blog and lie to yourself about how much better your life is. Do it!
Too late Newark……. Texas just executed Jeff Bezos
https://nypost.com/2018/01/18/texas-carries-out-nations-first-execution-of-2018/
Why is jersey so bad? State is awesome. Nothing is perfect, but to sit here and bash jersey like you do is completely idiotic. This state has the highest population density in the country, now why? Data doesn’t lie, lots of people want to live here. High taxes and high cost of living, yet still the highest density by a mile. 🤔
Give me a break with this sky is falling crap. Do you understand how much different it was back in 2005? They were right to be pessimistic back then (I was too) with how the economy was being run by a credit driven housing market. Times have changed. Since 2012, I have been calling for the greatest economic boom of our lifetime and it’s starting to take shape.
It’s anazing that we are in the midst of the hottest economy you have ever seen, yet you still think the sky is falling…simply amazing. Can you say blind? Do you understand why no news derails this current stock market? It’s because it’s in such good shape, the real investors don’t care about any negative news as they know this economy is super strong now and in the next 10 years. Writing is on the wall, open up your eyes.
blarff says:
January 18, 2018 at 10:30 pm
3b. it’s not just you. many regulars that used to post with dispassionate logic seem to be talking out of their asses lately.
look at grim. he’s deluded himself into thinking all the economic activity of the pharma and IT workers he is outsourcing is going to be relaced by small businesses. i wonder how much he’s paying his distillery employees?
as if the “artisan economy” (aka side hustle) is a sustainable and scalable economic policy. tuh.
@richardhine
The President who was spanked with a copy of Forbes by the adult star with whom he had adulterous, unprotected sex4 months after his 3rd wife gave birth now wants to allow “Christian” doctors and nurses to deny healthcare to LGBT people because they disapprove of that lifestyle.
Brain drain. All NJ’s top talent seems to be leaving the state.
http://www.nj.com/atlantic/index.ssf/2018/01/man_from_nj_now_a_commander_with_isis_terror_group.html#incart_2box_nj-homepage-featured
look at grim. he’s deluded himself into thinking all the economic activity of the pharma and IT workers he is outsourcing is going to be relaced by small businesses. i wonder how much he’s paying his distillery employees?
I don’t work in Pharma and IT. Besides, most of NJ outsourced years ago. We used to have a site of 850 employees in NJ in the early 2000s, we shut that down when the local community petitioned the town to make the entire area permit parking only. That made it impossible for us to do business, so we fired 850 people and went somewhere else. But hey, that’s NJ.
I pay my part timers $15-20 an hour.
can’t wait for your fearmongers to get out of NJ and never come back.
lines everywhere, traffic everywhere, crowds everywhere, GTFO and move the the south. Starbucks packed all the time, no parking at the gym in the middle of the day, Subaru dealership can’t handle, best restaurants in 10 mile radius don’t have openings on Sat evening, can’t find a house even at twice of Gary’s budget
get out of NJ and make some space for the rest of us! leave now!
@BillKristol
Who among us hasn’t created a Delaware LLC to pay an adult film star hush money?
@jdawsey1
WSJ reports Trump’s lawyer created a Delaware LLC to pay adult film star $130,000 in hush money a month before the 2016 election.
Think it’s funny that democrats think that Trump f*cking a porn star in what appears to be a completely consensual affair, before he was in elected office, is a problem.
But Clinton raping an intern in the oval office, that’s cool.
I think SHE consented to being raped in exchange for a ham sandwich.
ham sandwich
Not familiar with that technique, although Hillary, who was quite the minx in her younger days, has probably done it before.
Mueller investigation just imploded. Look for the hysterics to betaken to a whole new level. If there is violence it should lie at the feet of the media and corrupt fbi, doj and dnc for fabricating the collision story.
Real Estate taxes are way too high. They’re like having a 2nd full mortgage on a house.
It’s time to drastically cut the salaries and benefits of government employees, and give back to the people instead of take away from them.
“@BillKristol
Who among us hasn’t created a Delaware LLC to pay an adult film star hush money?”
This just shows how much smarter Donald Trump was than Bill Clinton. Not only did he shtoop her, but he also created a pass-through company so the cost would be deductible AND he chose one of the lowest corporate tax states to do it in. I can only imagine how much extra Bill paid. Oh wait, Bill probably didn’t pay anything. He just used his power to find Monica a job at the Pentagon which she chose to turn down.
Hmmmm.
@chrislhayes
OK so now the actual real important question in this entire saga:
where’d the money come from?
@chrislhayes
Maybe Trump just wrote a check, but that would be exceedingly out of character to say the least.
So who paid?
.
Libturd says:
January 19, 2018 at 8:50 am
“@BillKristol
Who among us hasn’t created a Delaware LLC to pay an adult film star hush money?”
This just shows how much smarter Donald Trump was than Bill Clinton. Not only did he shtoop her, but he also created a pass-through company so the cost would be deductible AND he chose one of the lowest corporate tax states to do it in. I can only imagine how much extra Bill paid. Oh wait, Bill probably didn’t pay anything. He just used his power to find Monica a job at the Pentagon which she chose to turn down.
Hmmmm.
Any odds on what’s in the FISA memo and whether or not it will ever see the light of day?
Moving from the Russia collusion to this prom star narrative. They keep
Getting lamer but the imbecile set puumps up the ad revenue.
Jersey will be ‘fine’, if your definition of fine is more growth and density. Many of you like that prospect, happy for you. Sincerely.
Someone, grim I think, makes this argument occasionally. NJ will go multifamily and up for density. In most places. Think Queens/Brooklyn.
It’s only natural….Populations continue to grow and the trend of concentrating in major urban centers shows no sign of abating.
It’s also a continuation of history locally. I’ve mentioned I collect historic documents. That includes a number of historical maps, mostly NY, some NJ even. Very interesting seeing how the five boros have changed over the longer term. Of course, as everyone knows, the Sheep Meadow in Central Park was actually a sheep meadow. There’s the famous photo from the early 1900s showing sheep still grazing with the Dakota in the background. There were still above ground streams, including and inlet from the East River.
I’m looking now at a map of Madison from 1910. All farms and estates of 34-149 acres. Not a neighborhood to be seen.
What’s the point? Every demographic and financial trend indicates the transformation of metro NJ into another de facto outer boro of NY. It’s not good or bad (personal, subjective views), it just is. Some will make a boatload of money on manipulating rezoning and new master plans. Some will erect fences, legal and zoning or otherwise, in a bid to retain some character. Short Hills becomes Forest Hills. Others can jockey to become Brooklyn Heights, Park Slope, or Riverdale. You will have these oases, themselves infused with multifamily and apartment density, surrounded by the vast stretches of retail, residential, and commercial density that have already taken deep root and will continue to profilerate.
Not fearmongering, just a view beyond the 100×200 groomed yard.
Here is a great deal if you want your kids to learn to play Hockey.
https://learntoplay.nhl.com/devils&lang=#gearup
Lessons and equipment
Locations
Middletown $295
Newark $75
Secaucus $150.00
Staten Island $150.00
Princeton only $25.00
Bayonne $50.00
Lawrenceville $25.00
Stockholm $100.00
We need the current guard to die off before we see mass transformation of this area.
I suspect 25 years from now, Northeast megalopolis will look dramatically different.
agree. you guys should move to the south now to avoid being priced out
grim says:
January 19, 2018 at 9:24 am
We need the current guard to die off before we see mass transformation of this area.
I suspect 25 years from now, Northeast megalopolis will look dramatically different.
@chrislhayes
When was the last time the government shut down while controlled by one party?
The geeks shall inherit new jersey
If this migration towards the city continues.
What does this mean for towns like Clifton, Bloomfield, Nutley, Belleville, Lyndhurst, etc?
I think prices can only go up in these places.
It means higher density. 2 examples of The Record.
Fort Lee under previous mayor (Alter) fought tooth and nail against attached duplexes/2 fams. After he died, the present mayor (Sokolich) big in real estate has allowed everything to be built. So large lots single family have become 5 sideway townhouse condos with plenty of trees and landscape.
Englewood Cliffs, only single family and retail/office/commercial properties, now getting sued by first developer to build 600 apts multi-building complex with a 1/3 of them affordable houses.
Just think Queens of the West, like a previous poster stated. With local variabilities taking account of local corruption. Because you got to realize all the prime cuts of these developments will be taken by the connected political insiders.
Trump: “Spank me with a Forbes!”
Stormy: “Malcolm or Steve?”
Waiting for the video of Trump giving a Russian prostitute an angry dragon. Bonus points if she’s a dead ringer for Ivanka.
Never happen. Without misery, these idiots would have nothing.
“agree. you guys should move to the south now to avoid being priced out”
grim says:
January 19, 2018 at 9:24 am
We need the current guard to die off before we see mass transformation of this area.
I suspect 25 years from now, Northeast megalopolis will look dramatically different.
From yesterday
Trick – take a look around your neighborhood and see how well the houses are being maintained. I grew up in Morris and have been following it from afar for a long time. There are houses there that have been in foreclosure for 10+ years, the banks are just not taking the final step. My theory is that it is because they’ll tank the local market if they do.
Not sure how accurate this foreclosure rate is, but looking a in my old town in Sussex on Zillow it has more blue dots then red. Glad we got out and moved to Morris 5 years ago
Agree, but they are starting to turnover, unlike Sussex with is adding.
We have roughly 300 homes in our development, 4 foreclosure recently were fixed and sold. In the 5 years I have lived in the neighborhood nothing has foreclosed.
There are 400 new rental apartments approved to be built in Paramus with over 200 more in various stages of the approval process. There are 70 units under construction in my town in an absolutely miserable location. There are 140 new rentals approved in the town next to me. There are 100 plus coming to Washington Township and I believe another 200 plus coming to Park Ridge along with plans to convert office buildings to rentals. Bergen is not going to be the suburbs of the 1950 s any more.
Montclair used to care about it’s character. Many of the homes and public structures having been built by famous architects or were key landmarks during the days of the underground railroad. Heck, there are even tunnels in town that were used to smuggle escaped slaves. Then the town elected a wealthy develop mayor and the Brooklynization of Montclair began. They reap what they so. Wait till that hotel goes up on Bloomfield Avenue, or is that now the Canyon of Heroes(West).
Huge difference county by county.
Sussex vs Bergen, for example.
Couldn’t be more different. Like 3b says, Bergen is gangbusters in growth. Sussex is turning into a ghost town, like Trick says. It might as well be the Poconos.
Maybe can buy a nice family farm in sussex in 5 years for real cheap.
In the past 10 years, Bergen added 35,000, Sussex lost 5,000. Worse, the numbers are actually accelerating.
I’m curios to know what people are paying in tax’s Mount Olive, the HS added a new football stadium, a bubble(indoor fields), and most of the towns fields are turf.
Sussex is dead because even if you got the dirt for free construction costs exceed projected value of what you would build.
In the past 10 years, Bergen added 35,000, Sussex lost 5,000. Worse, the numbers are actually accelerating.
Funny is I grow-up in nother bergen counted, moved to Sussex when we got married, and now in Morris.
To me parts of Morris(western) reminds me of Bergen when I was younger. My parents and brothers still live in Bergen, and hate getting on rt17 when I go to visit.
Grim its growth but people are not happy about it as these are all rentals or most of them. Two of the towns including mine already have large garden apartment complexes built in the late 40s early 50s. In the past these were occupied by elderly couples young marrieds singles. They are now occupied by largely immigrant families and in many instances more than one family in one apartment. This is and will continue to put pressure on the schools. The days of the traditional suburbs are over.
“The days of the traditional suburbs are over.”
Moreso around here though, then in Iowa say.
I believe this post may be your best ever. Nice write up. This is what I have been trying to get 3b and the likes to realize. Nj dying? Just not going to happen. Is it reinventing itself…for sure. In 20 years, all those people that left will want to kick themselves for moving out. Low cost locations are only good for one thing…saving money. Hence, why retirees are the only ones with money that occupy these areas. They already made their money.
leftwing says:
January 19, 2018 at 9:08 am
Lib agreed. But they are all second and third tier losers out there.!
Probably gold mines. These locations are top notch. Only a matter of time.
Mike S says:
January 19, 2018 at 10:08 am
If this migration towards the city continues.
What does this mean for towns like Clifton, Bloomfield, Nutley, Belleville, Lyndhurst, etc?
I think prices can only go up in these places.
You just might not like what north jersey reinvents itself to! You never know you may get 500 or 600 or more rental units in Wayne with all those dirty renter losers children crowding your schools. And of course you won’t mind the increase in property taxes as of course it is the price to pay! Be careful what you cheer it might bite ya!!
Oh and I forgot the 600 in Hackensack under construction at the old Bergen Co. DPW site just south on main and Hackensack aves.
I was a kid of an immigrant in a town full of immigrants 30+ years ago.
Is it really so different?
leftwing, well aware of how this area has changed. First wave of change really happened at the beginning of the 20th century and really started to gain critical mass post WWI around 1920 with the overheating economy. City dwellers started to get acquainted with a higher standard of living, commuter trains and the automobile make the first modern suburbs a reality and mass production of consumer goods now means people need space for previously unthinkable conveniences. It was during this time that your major inner ring NYC suburbs developed primarily for the wealthy. Through the WWII era you continued to see some development in these communities but nothing in comparison to the 1920-1930 period where literally farms transformed into upper class bedroom communities. Then post WWII more middle class(1940-1960) communities sprung up, advances in mass production dropped the real cost of goods and materials for home building and middle class exploded all over as people moved out of crowded tenements to the suburbs. Then the final expansion 1980-on people moved even further out for bigger, better, newer and cheaper homes. I think that has run it’s course and we are seeing people wishing to move closer in as commute times have ballooned.
Time for bold predictions, while the character of some towns will change it will largely be in places close to the city and who have little character to save(East Orange, Newark, Belleville, places that don’t have huge demand at the moment). Places like Newark will be totally redeveloped, a city is currently rising in Harrison. I fully imagine that the Newark-Jersey City duo get to a population of 1m.
You only give credence to Pumps. By saying Jersey will be fine, all he is alluding to is massive amounts of money being made. To Grim’s point developers will make boatloads and small business who support these projects be it construction, waste, concrete, etc will make good money. In the long term view NNJ is an economically safe play even with it’s hopelessly corrupt and ineffective government. Long term the value is in the dirt here so to speak because of proximity to one of the largest seaports in the US, the biggest consumer market, and arguably the financial capital of the world. So will some pain be felt as a result of bad governance, YES, but long term this is a good market with loads of economic activity that really only needs to compete locally(NY, CT). We can go back to yesterday’s Nashville(imho a RE bubble if there ever was one) conversation because your argument supports the notion of a New Jersey that is very desirable to the future generation due to density, transit, etc.
Listen, no one is a loser. Everyone has their own road to travel in life. I made the loser comment out of frustration with people claiming lower tier areas as the place to be. I was wrong to say it, just like you are wrong about some of your negative comments with jersey.
3b says:
January 19, 2018 at 11:31 am
Lib agreed. But they are all second and third tier losers out there.!
Why don’t we cut your salary to lower costs. You actually think govt employees are responsible for the high costs here?
On the subject of property taxes, why don’t we just do what other states do. Lower property taxes and then charge you a tax for owning a car. There is no free lunch, but keep thinking that’s the answer.
J says:
January 19, 2018 at 8:39 am
Real Estate taxes are way too high. They’re like having a 2nd full mortgage on a house.
It’s time to drastically cut the salaries and benefits of government employees, and give back to the people instead of take away from them.
Another good post. For a Friday, this blog is pumping out good posts!
JCer says:
January 19, 2018 at 11:43 am
3b back to second tier markets. There are many reasons for people to be in second tier markets, they aren’t devoid of talent but they don’t attract it like NYC or a top tier city does. In many fields people know that to make bigger dollars they need to come to the big markets, hence the most driven people tend to be in the big name cities. It is also not the easiest place to live, high cost, high density, and since the pay is often high so are the expectations of employees. I know people who couldn’t make it around here, couldn’t get a job especially one paying a livable wage doing well in smaller cities. there are always individual cases but that is how I see it with regards to a general trend.
As someone said earlier taking the move package to Charlotte, SLC, or Dallas might seem good at first but don’t do it. Once in the new market you are beholden to your employer and are wearing the golden handcuffs. I’ve seen people at GS take the SLC move and their direct reports jumped ship and now make significantly more money than their old boss does who is also seeing more career stagnation.
In addition 142 new rental units in Hawthorne. 111 in waldwick, 232 in OMG Wayne!! On 23 south which the town is resisting. And 154 in palisades Park. According to Mr. Jeffrey Otteau (we remember him) and Rutgers study I believe condos are only profitable for developers in towns close to the city. That explains JC Hoboken, Harrison etc. That is why they are going the rental route in these surbuban towns. According to Mr. Otteau we are going the European model of rental housing close to the cities.
On 23 south which the town is resisting.
Approved I believe.
Mother’s Parking Lot?
Speaking of Clifton – 35 townhouses on the Richfield Farms property on Van Houten.
Across from Bottle King a bit further up, looks like a car dealer lot today.
Real Estate taxes are way too high. They’re like having a 2nd full mortgage on a house.
It’s time to drastically cut the salaries and benefits of government employees, and give back to the people instead of take away from them.
That’s already been done here. It didn’t do anything.
Grim I am the kid of immigrants too. We had a house 4 Brothers in one room just like it other immigrant families as well as American born parents who still had large families back then. The difference is the fact that these surburban apartments were not formerly occupied by families with children. And so it will affect property taxes. The more subtle point is that many of these homeowners are upset with seeing this change as they thought they were getting away from that. They have a romanticized view of the picket white fence and green lawn. Seeing a sari or a headscarf freaks them out. They are only liberal as long as these certain types of people are not in their town.
in essex co:
http://www.nj.com/essex/index.ssf/2017/01/hospitals_haunted_history_is_over_park_and_townhom.html
Richfield Farms property on Van Houten. That was a decent nursery. Had great coupons in the Spring. I used to shop there on occasion. BTW, Gator says Barrow House (on VH a little further up) in the old Charlie Brown/Grimaldi’s location is very very good.
As bad as NJ is, CT is circling the drain. GE up and left…..that is the equivalent of J&J moving to Center City Philly. Hartford is effectively going to lose Aetna…..that is the equivalent of Newark losing Prudential. CT main highway are doomed. Their Hedge Fund industry is in duress. Their main financial hub Stamford is losing business back to NYC. They are more expensive than NJ.
JCer says:
January 19, 2018 at 11:43 am
In the long term view NNJ is an economically safe play even with it’s hopelessly corrupt and ineffective government. Long term the value is in the dirt here so to speak because of proximity to one of the largest seaports in the US, the biggest consumer market, and arguably the financial capital of the world. So will some pain be felt as a result of bad governance, YES, but long term this is a good market with loads of economic activity that really only needs to compete locally(NY, CT). We can go back to yesterday’s Nashville(imho a RE bubble if there ever was one) conversation because your argument supports the notion of a New Jersey that is very desirable to the future generation due to density, transit, etc.
I set up a Liberal friend of mine huge liberal by any definition. The town he lives in has a regional school arrangement with a neighboring town. The neighboring town also has a lot of rentals. At a part a couple of years ago after one of his liberal rants I said to him that I was in the neighboring town on a Sunday and saw a lot of people of a certain ethnicity and the moms had young children and were pushing baby carriages so I assume they must live in the town. His response yeah but they are not in our schools!
Noticed on my way to Mennen Arena that the huge factory on East Hanover Drive was gone. Here come the condos.
Some think teachers are paying to much for their bennies and their salary is too low?
Go compare the benefits/salaries to a person working in a hospital.
Compare the work schedules, the co-pays, the salary (comparable education-talking about teachers, not administrators), continuing education reimbursement comparison, health insurance comparison, weekends, holidays, vacation time, snow days or just the ability to leave at the time you are scheduled to go home to pick up your child. Let’s not forget the fact that you are exposed to nasty microbes all day long. You would think an ICU nurse with a master’s degree would be better compensated than a teacher with a bachelor’s. Go to data universe and get a reality check.
Real Estate taxes are way too high. They’re like having a 2nd full mortgage on a house.
It’s time to drastically cut the salaries and benefits of government employees, and give back to the people instead of take away from them.
That’s already been done here. It didn’t do anything.
Jcer I was being sarcastic with my second tier comment. My point was to address the attitude of some or perhaps one I should say that appears to believe that anyone outside this area is s second tier loser and that only the best are here and somehow you cannot be successful and have a good quality of life unless you live here.
You would think an ICU nurse with a master’s degree would be better compensated than a teacher with a bachelor’s.
What do you think that a teacher with a bachelors makes?
Negative things about Jersey! Refute one negative thing I said about NJ? Its not negative it’s fact. You are a little Jersey born guy always going on about NYC. All N.J. has left is proximity to NYC. And even that is questionable the further you go out.
Yes, it passed.
grim says:
January 19, 2018 at 12:40 pm
On 23 south which the town is resisting.
Approved I believe.
Yup, they are only using the farmland. Storefront remains in place. I was good friends with the son and daughter of the owners.
Down to one farm in Clifton….writing is now on the wall for even the blind.
grim says:
January 19, 2018 at 12:44 pm
Speaking of Clifton – 35 townhouses on the Richfield Farms property on Van Houten.
Just open your mind for once. Yes, the rural (north)jersey you grew up in is gone, but that doesn’t mean it’s a bad thing. Seriously, go live somewhere else for a couple years so you can figure out why Bergen County is so desirable.
3b says:
January 19, 2018 at 1:24 pm
Negative things about Jersey! Refute one negative thing I said about NJ? Its not negative it’s fact. You are a little Jersey born guy always going on about NYC. All N.J. has left is proximity to NYC. And even that is questionable the further you go out.
Ay yay yi. He never shuts up!
I grew up in the Bronx baby!!
Bergen County is desirable yes. Apparently for new rental developments!! And ain’t nothing wrong with that. But it won’t be the story book suburbs of yore!
Lib Sorry I am encouraging him I will stop.
I’m with you. Medical field is payed well. Every icu nurse I know is making 6 figures. You also deal with sick kids on a regular basis in schools.
Blue Ribbon Teacher says:
January 19, 2018 at 1:22 pm
You would think an ICU nurse with a master’s degree would be better compensated than a teacher with a bachelor’s.
What do you think that a teacher with a bachelors makes?
train, car, ferry, bus, 5 minutes to NJ from downtown and midtown
Connecticut is only train and 1 hr to Darien. it might as well be DC. still, I might pick a weekend house in Wilton 50% off
chicagofinance says:
January 19, 2018 at 1:07 pm
As bad as NJ is, CT is circling the drain. GE up and left…..that is the equivalent of J&J moving to Center City Philly. Hartford is effectively going to lose Aetna…..that is the equivalent of Newark losing Prudential. CT main highway are doomed. Their Hedge Fund industry is in duress. Their main financial hub Stamford is losing business back to NYC. They are more expensive than NJ.
JCer says:
January 19, 2018 at 11:43 am
In the long term view NNJ is an economically safe play even with it’s hopelessly corrupt and ineffective government. Long term the value is in the dirt here so to speak because of proximity to one of the largest seaports in the US, the biggest consumer market, and arguably the financial capital of the world. So will some pain be felt as a result of bad governance, YES, but long term this is a good market with loads of economic activity that really only needs to compete locally(NY, CT). We can go back to yesterday’s Nashville(imho a RE bubble if there ever was one) conversation because your argument supports the notion of a New Jersey that is very desirable to the future generation due to density, transit, etc.
For everyone that bashes Jersey, it just sounds like someone bashing their employer but not actively looking for another job. Its just a action-less vent.
Proceed.
3b, there is demand for those rentals as people lack the financial wherewithal to buy the homes and as an aging population looks to get out of single family homes while still being in their communities. Any open land is game for density development, 4-5 story apartments are the most profitable thing to build. Suburban rentals have low vacancy rates and high rents, the higher the density the bigger the profit you can make off the dirt. Just think of the campaign contributions made to ensure the zoning ends up right!
Jcer I don’t necessarily disagree but I would point out for a rental you can only charge what someone is willing to pay. Many of these locations are on busy streets next to light industry etc. the old garden apartments in my town are 1100 for a one bed and 1200 to 1400 for a 2bed. They are now filled predominantly with immigrant families with children. This may be the case with many of these others coming on line. The young millennials don’t want to live in there as they are too far from the city and nothing to do. All of my kids friends they went to school with are either in Hoboken JC etc or are still living at home or have left the area. The long time homeowners in these towns are not going to like these demographic changes.
Nj beats conn as for close to nyc hands down. And at least Jersey has JC Hoboken and now Harrison turning around. Ain’t no gentrification going in Conn cities.
Teacher salaries are not the issue. There certainly is waste that can be cut but the elevated per student expense isn’t the cause of the property tax madness it is the state funding not contributing anything towards school expenses in most districts and the micro towns in NJ not having diversified ratables. I could fix the property tax issue in NJ but certain people would be up in arms and it would be politically unpopular. It starts with even school aid to all districts(~6k) and moving the majority of school funding to the county level(~11k per student). The approximately 17k per student indexed to inflation should fund the majority of the education expense with the difference being made up with funds from the municipal budget. Start charging the Newark land owners(owners of downtown newark property) the appropriate taxes based on real market values and see the effect places like paramus, florham park, and parsippany will see higher tax bills while smaller municipalities get some relief relief, Newark would need to reign in it’s school spending. Then start eliminating local police forces, compensation for local cops is out of hand. No need to even consolidate towns if we change the way schools are funded, the tiny towns just highlight the lack of revenue diversity, places like south hackensack and teterboro would get killed in scenario while towns like Ridgewood would see tax relief.
The major cost to education is having an extra teacher in the classrooms when there are classified children. These teachers make the same salaries and have the same benefits, but there day ends when the leave the school. The real teacher goes home creating lesson plans and grading.
3b just look at the rents they are getting in new apartments….I don’t know who is paying it but they are almost Jersey City high in some places. No one wants to live in the old garden apartments. Newer buildings starting at 1700-1800 for 700 sqft, that’s the going rate, 2400-2500 for 2bd-2bath 1000 sqft in Bergen county, you are looking at $30 psf annually pretty easily and that is in places like hackensack or bloomfield.
And by classified I do not mean the child the really needs the help, its the parents that classify there kids because the have a lisp
People betting real money on the Amazon HQ2 contest are putting long odds on Newark
Paddy Power Odds for #AmazonHQ2:
3/1 Boston
7/2 Austin, Atlanta
8/1 Montgomery County, Pittsburgh
10/1 D.C.
14/1 Philadelphia, New York, Toronto
16/1 Chicago, Denver, Newark
20/1 Columbus, LA, Nashville, Indianapolis, Raleigh, Dallas, Northern Virginia, Miami
The higher the density the bigger the profit you can make off the dirt. I’m learning that from finding a lack of potential buyers for my multi.
Jcer I don’t disagree with the JC etc. I don’t agree that people are going to pay that on Kinderkamack Rd in River Edge or Hawthorne, and some of these other further north towns. Young people don’t want to be in those places. Westfield is trying to mimic the eatery type places they have in the oculus in nyc. They want that millennial crowd. I don’t see it. Young people don’t want to hang out in Paramus and these other towns.
“The major cost to education is having an extra teacher in the classrooms when there are classified children.” Some classrooms have like five of them.
No half remedies merge these small towns in fact merge all of Bergen co and make it a city. Teterboro has less than 50 residents by the way!!
Oh and I forgot 300 hundred rental units in Dumont the old D Angelo farms property.
Consolidation only makes sense if you don’t up the compensation levels of all of the gubmint workers since they now will have increased responsibilities. The Super in Montclair always demanded a huge salary since the school system was so big. Imagine if say Bloomfield, Verona, Montclair and Glen Ridge consolidated. The super would claim to need double the money. The municipal offices would be overflowing.
Using Montclair and Glen Ridge as an anecdotal example, our government is much more efficient in Glen Ridge. Our taxes are actually lower and we do it with no ratables. Now HOW can that be? And from a customer standpoint, the efficiency at the municipal office is better to the umpteenth degree. My fear with consolidation is that efficiency will drop reducing any savings.
Lib Glen ridge may be different than all the rest.
Jcer and I am on nj rancid Transit every day and there are only a handful of young people on these train . Living at home or young marrieds perhaps. Otherwise it’s a middle aged and geritol fest on the train.
The train line starts in New Jersey in Montvale all the way down to Hoboken.
How many govt workers does the state employ? How many teachers does it employ? There is no way these people are the sole reason for your taxes. Impossible. Look at the budget, what are these workers all millionaires? Over 30 billion dollar budget, and the majority of that money goes to private companies, not workers. Enough with the govt worker bashing. It’s pure propaganda with no substance to back it up. These people are not getting rich off their govt job, no matter how you try to paint the picture. You realize you are putting all the blame on workers making below 6 figures for most of their life. Cops and firemen make off, but there is not that many of them. Go blame the crooked private companies overcharging the tax payer, that’s the got damn problem. Just look at how much money was dumped into xanudu and revel, but let’s blame pathetic salaries by govt workers and teachers as the source of the problem (not including cops, firemen, politicians, and the other minority of politically connected hacks).
Trick says:
January 19, 2018 at 2:22 pm
The major cost to education is having an extra teacher in the classrooms when there are classified children. These teachers make the same salaries and have the same benefits, but there day ends when the leave the school. The real teacher goes home creating lesson plans and grading.
Look ate what percentage of your property tax’s to education, them get back to me
at
Property tax’s jumped after this,
Disabilities Education Act of 2004 (IDEA) in local education agencies (LEAs) which include all school districts.
Trick,
There is a reason the 2% cap only applies to cops and fire fighters. They are the only regular workers with outrageous salaries. As for teachers, yes, some districts have a 100,000 dollar teacher, but this is the anomaly, not the norm. There are teachers topping out at 70,000-80,000 in this state. That’s the norm, but you read some headline where a teacher makes 100,000 and apply it to everywhere. Just look at the data, avg teacher salary is 69,000. Numbers don’t lie. You should be ashamed of yourself for asking for a reduction in these workers salary so you can get a few dollars off your tax bill.
full disclosure, my significant other is a teacher. I am not bashing them or any other government employee.
Thank your boy, Bush.
Trick says:
January 19, 2018 at 3:23 pm
Property tax’s jumped after this,
Disabilities Education Act of 2004 (IDEA) in local education agencies (LEAs) which include all school districts.
Look ate what percentage of your property tax’s to education, them get back to me
Then look at how much actually goes to your local district. Your local is likely not wasting your money. Most locals do their best to minimize costs at the expense of teachers salary. I’m sorry the Abbotts are bleeding you dry but if you think bleeding teachers of the suburbs dry is the answer, it’s not.
As for the other discussion. I have a coworker who is 8 years in with his bachelors. His wife is a nurse in the neighboring town and only works part time 3 days a week right now. She makes more than him. And I work in a well paying district. Data universe isn’t showing you the subtraction in dues, healthcare, and pension contributions. Most teachers are starting out 45k and if you are on a bachelors, you are lucky to top out at 80k after 20 years. 80k for a 45 year old is pretty crappy once you subtract out all those contributions.
Just saw a blip on one of those elevator news screens apparently some recruiters use your home address in evaluating your attractiveness to a potential employer as in the further away you are from the employer the less desirable you might be. Interesting.
Yes, it’s under the “education budget,” but how much of this budget goes to private companies? What percent? You will never know, because this is where the true thief is hiding.
Trick says:
January 19, 2018 at 3:21 pm
Look ate what percentage of your property tax’s to education, them get back to me
My point was the extra co-teachers, not all teachers. I know the salary guide very well. My wife’s district works without a contract every other year,
Blue, how many co-teachers does your school have?
Trick,
You can’t leave one teacher in a room full of 30-40 kids, with majority of them being “special.” I had friends growing up that were in special ed, and let me tell you, these kids were got damn crazy. One of them jumped out of the window of their classroom during the middle of class. Was the talk of the school.
You are an idiot, special ed when we were going up is not the same today
Per my earlier post
And by classified I do not mean the child the really needs the help, its the parents that classify there kids because the have a lisp
You can’t leave one teacher in a room full of 30-40 kids, with majority of them being “special.” I had friends growing up that were in special ed, and let me tell you, these kids were got damn crazy. One of them jumped out of the window of their classroom during the middle of class. Was the talk of the school.
I have no problem with teachers salaries for the good ones. Special Ed is from what I have seen a joke. Some of these kids just need a kick in the ass.
Nah, I’m pretty sure I’m dead on. You must not know what special ed kids that are at a high cognitive level are like. They are behavioral mess. They literally just do wtf they want. Authority doesn’t scare them one bit.
My son was classified you idiot,
Done, going skiing
No one, thanks for posting Paddy Power odds. Is there any way for an American to place bets on Paddy Power? I want to put $$ on Toronto.
Bergen County apartment developments are a good thing for the county. Brings in millenials who eventually buy homes in the area and for wealthy empty nesters (many in Bergen County) looking to sell their homes and live nearby. The tenant profile isn’t multigenerational poor immigrants.
Little multifamily was built in Bergen County for decades and now there is pent up demand for modern apartment buildings.
I’m an idiot because I’m speaking the truth and you don’t like it. Have fun skiing.
Our school doesn’t really use co-teachers anymore. I’ve picked up a class that is the lowest level in the school. We only get aids to satisfy the adult requirement in the classroom. They get paid like 16k a year.
My previous school, the special ed department was the largest department in the school by far. If a kid has a bad attitude or work ethic, he/she gets funneled through the special ed pipeline.
High odds rarely hit on these gambling sites. Completely useless to use as a predictor. The odds are based on what the general public will bet. So bad odds means less people betting it, and high odds means lots of people betting it. Remember, lots of people don’t win at gambling, so I wouldn’t bet with the lemmings.
No One says:
January 19, 2018 at 2:29 pm
People betting real money on the Amazon HQ2 contest are putting long odds on Newark
Yo I guess you missed my points the millennials in my opinion are not coming to live in Bergen County towns. And I don’t blame them. Nothing for them. And with young people delaying marriage and children you may be waiting a long time if ever.
I will keep an eye on the new complex being built in my town and see who moves in.
I read on marketwatch young people surveyed paid more on coffee in a year than they invest. Silly young people.
“Mueller investigation just imploded”
Did Hannity tell you that or the Twitter Bots.
http://www.businessinsider.com/release-the-memo-campaign-russia-linked-twitter-accounts-2018-1
How this process started is not really relevent. What has been discovered in the interim is really the issue. At this point it is who lied? who laundered? who obstructed? who tried to cover up.
Remember the Martha Rule, its not the initial crime that nails you.
My wife is currently a special ed teacher for 8th graders in Science and Social Studies……..to be clear, most of these kids are fcuked beyond belief.
If they can limp through, finish high school and become independent and productive, good for them and their parents. A lot of them know they are impaired and the stigma is pretty brutal…… sux to be them.
3b says:
January 19, 2018 at 3:44 pm
I have no problem with teachers salaries for the good ones. Special Ed is from what I have seen a joke. Some of these kids just need a kick in the ass.
After the DNC Wikileaks, I would not be surprised if the pissing dossier idea was actually devised by the DNC. I could see Hilary and Howard Dean having a good laugh over it.
Chgo I feel for them and their parents, those that truly have issues. There are others however from what I have seen who don’t care and the parents don’t care.
Very Funny.
https://twitter.com/NDmom/status/954456797477265408
Apparently one of the most sort after benefits that young people want from an employer is help in paying down their student loans.
Agreed on the lack of millenials in Bergen but, someone is renting the new apartments….
JC I agree don’t know who yet in my town and many of these others I have mentioned are under construction or not yet started.
Lib,
It was the Right Wing Opposition to Trump that started the Fusion digging. For me, its not who paid, but is the information true?
And so it begins. I’ll leave it to the lawyers on the board to talk up the merits of this.
https://slate.com/news-and-politics/2018/01/john-k-bushs-opinion-in-peffer-v-stephens-is-truly-awful.html
Fab most of us just don’t care about any of it on either side. You will feel much better after you too decide to simply not care.
@kylegriffin1
“Never before has the government experienced a furlough of federal employees when a single party controls both the White House and Congress.”
pumpkin. werent you the one pumping penny stocks? and now you are posting warnings about transparent odds makers?
eat a dick.
My response to someone who referenced capitalism as some form of exploitation.
Capitalism at the heart is not about exploitation, it’s about competition, and how the winners of these competitions raise the living standard for everyone else through said competition. Right now, due to human nature, nothing works better than capitalism.
Terrible with making myself clear. I was simply pointing out that you shouldn’t use gambling odds as a tool of prediction. Those odds mean absolutely nothing about predictions and everything to do with the amount of bets being made on each city.
blarff says:
January 19, 2018 at 7:42 pm
pumpkin. werent you the one pumping penny stocks? and now you are posting warnings about transparent odds makers?
eat a dick.
3b, if most of you don’t care, in some way that is a little sad. Your 4th amendment rights can continue to evaporate and you don’t have to care.
I feel great at the moment. Not “Truly Great” as I still need Gary to tell me when that finally gets here. That reminds me, Gary is it true greatness to have a shutdown when you have a majority in all three? But really great as I get to see the Gary and the GOP get hit by the Karma Bus.
I saw this and can’t wait for the WH press conferences next week!
https://www.politico.com/magazine/story/2018/01/19/shutdown-nonessential-employee-what-happens-216483
Tom Petty Died of an ‘Accidental Drug Overdose’, Coroner and Family Confirm – People
And a cigar.
I think SHE consented to being raped in exchange for a ham sandwich.
I grew up hearing my grandfather use a depression era saying that essentially meant you’d complain when you really have nothing to complain about:
“You’d cry with a ham under each arm!”
I wonder how a Muslim would interpret that saying?
As a Sea Org wanker, we don’t really expect you to get there.
The Great Pumpkin says:
January 19, 2018 at 8:45 pm
Terrible with making myself clear.
Fab I don’t disagree just realistic. They are all the same.
“… if most of you don’t care, in some way that is a little sad. Your 4th amendment rights can continue to evaporate and you don’t have to care.”
Re: Peffer, I’m surprised the Left would even take the time to notice….
Just pull a Clinton. Destroy all the evidence and then lie. Much easier and more direct than the whole messy business of a constitutional protection argument.
The Clinton campaign funding the Trump Dossier is apparently legal(as long as the spending is disclosed which I doubt), albeit questionable to use foreign sources to do so.
It crossed over to a conspiracy(and likely criminality) when corrupt officials at the DOJ and FBI weaponized the dossier to spy on the Trump campaign.
There are just a few more dots to connect before Mueller is sent packing and an investigation is opened on Obama’s corrupt officials.
What is more likely?
-The Trumps are relevant players as money launderer and doing tax evasion with those profits. Usually bad enough. But they still can’t put country over family business. Think Joe Kennedy vs JFK.
-The Clintons are relevant players as an influence peddling/political boss organization. That because they always lowered the bar to common denominator to the point they gut stuck in the mud themselves and got into trouble. Simple as using government e-mail servers/ no emails would have been compromised by the russkies.
Or evil federal employees really hate the Trump hair and kids. And they really hate the Clinton’s smile or cankles.
NWNJ – both are the bookends of the locust boomer presidencies. Bringing deviant behavior to the new normal. This is not a left or right issue. This is a generational boomers vs non-boomers about what is right. The truth is not a negotiable spinnable fake news events. If you don’t get it by now – you are probably a boomer.
In closing. I got Morgan Freeman to explain it to you:
https://youtu.be/AWSlEIswJxg
It’s not a left or right issue. The constitution was trampled on by the deep state for the purpose of fixing the presidential election. And after the fact is being used to undermine his presidency. Many crimes have been committed. If there egregious abuse of power then I can’t think of it.
NWNJ, if you think the so called deep state cares to fix an election. Then you are spending too much time watching Chinese Intelligence influenced Murdoch’s Fox news, and too much time watching Russian Intelligence finance web propaganda. A tid bit for you – many far right, now known as alt-right organizations get funding from the FSB.
What the loyal USG employees who took an oath to the Constitution and follow the Rule of Law; not the Koch brothers, the GOP platform, the Clintons, any other group of your conspiratorial mind, that will make this country behave like Hudson County.
At the end. The facts will show that the Trump family is a money laundering/tax evasion on-going concern. Just like the Clintons, vis a vis its foundation, where preparing to be an influence peddling organization. A law was created for these matters. RICO is its name, and I don’t think it knows the Copacabana.
NWNJ, I think you should lay off the wacky w33d, or if you are from NW NJ – the opiods.
PS. Forgot the movie link.
https://youtu.be/jl_9ayxs69A
LOL!
https://www.schumershutdown.com/
Only the finest are accepted to be NJ’s public servants:
http://www.nj.com/union/index.ssf/2018/01/rahway_fire_chief_william_r_young_jr_charged_with.html#incart_river_home
Meanwhile in Philly.
https://twitter.com/fox9sports/status/955069655479128064
Chi,
As a CT resident, I agree that the state is circling the drain but Fairfield County is not going anywhere. It is tied to NYC just like Hudson, Bergen, Passaic. Fairfield is also still a refuge for Westchester cost insanity. No way we are more expensive than NJ, maybe Greenwich and Darien. Perhaps when NJ gas tax was lower but I pay under 10k for property and car tax for nice 2200 sq ft house in great school town. That was not happening in NJ. Having commuted to NYC from Brigadoon, NJ Transit is inferior to Metro North. 23 miles from took 1 hour on NJ Transit while 50 miles from NYC takes 1:15 on Metro North to GCT. Stamford is delusional in their optimism but seems like non stop development anyway. New buildings going up all the time. NYC commute is reasonable at 50m so lots of young folks like harbor area. Hartford is f-ed no doubt. There is no draw from business perspective anymore. No idea how people will survive outside Fairfield county. State becoming a bigger sh*t hole by the day.
F.uck the Patriots.
Eat My Pussy Eddie
The Karma Bus may have a new stop at Grim’s
https://slate.com/news-and-politics/2018/01/author-of-fire-and-fury-michael-wolff-suggests-trump-is-having-an-extramarital-affair-now.html?via=recirc_engaged
Eddie eat my fudgy starfish you mongoloid.
And now I have to root for the Patriots. Sigh…
Right, tinfoil hat stuff, so now the FBI can’t produce five months worth of text messages leading up to the Mueller investigation from the guy(also looked the other way on Hillary’s criminality) who was developing the “insurance policy” against a Trump presidency. Mueller is finished, start investigating the FBI.
https://www.politico.com/story/2018/01/21/fbi-texts-trump-clinton-probes-354849
BJ Pumps must be giving his wife the ten pound hat, otherwise he would be doing his weekly jizz spray here.