Finally the end of cheap mortgages?

From CNBC:

Here’s how a 5% mortgage rate would roil the US housing market

Mortgage rates are now at their highest level in four years and poised to move even higher. The timing couldn’t be worse, as the usually busy spring housing market kicked into gear early this year amid higher home prices and strong competition for a record low supply of homes for sale.

Add it all up, and affordability is starting to hurt.

The average rate on the popular 30-year fixed is now right around 4.50 percent, still low when looking historically, but buyers over the past six years have gotten more used to rates in the 3 percent range. Mortgage rates have not been at 5 percent since 2011.

A 5 percent rate would cause more than a quarter of today’s homebuyers to slow their plans, according to a Redfin survey of 4,000 consumers at the end of last year. Just 6 percent said they would drop their plans to buy altogether. About one-fifth of consumers said 5 percent rates would cause them to move with more urgency to purchase a home, fearing rates would rise even further. Another fifth said they would consider more affordable areas or just buy a smaller home.

Despite rate concerns, the bigger issue for buyers is changes to tax laws that had lowered the cost of homeownership. Specifically, the deduction on property taxes is now limited to $10,000. While that does not affect homeowners in the majority of the country, it does hit those in high-cost states like New York, New Jersey and Illinois, and those in higher-priced housing markets like California.

This entry was posted in Economics, Mortgages, National Real Estate. Bookmark the permalink.

137 Responses to Finally the end of cheap mortgages?

  1. Mike says:

    Good Morning New Jersey

  2. chicagofinance says:

    Good morning Mike…..

  3. chicagofinance says:

    Except Atlanta is a pile of garbage…..seriously useless junk pile of a city…..DC is the place that makes sense for a lot of reasons……. the only things Atlanta has are low cost and a mega airport

    3b says:
    February 12, 2018 at 9:47 pm
    It won’t be Newark. Atlanta makes sense for a lot of reasons.

  4. grim says:

    From Bloomberg:

    Americans Expect Biggest Pay Jump in Years

    Americans are more optimistic about wage growth than they have been in years. U.S. consumers anticipate earnings will rise 2.73 percent in the coming year, the most since data collection began in 2013, according to the results of a New York Fed survey released Monday and conducted last month. January was only the third month in the survey’s 56-month history in which expected wage growth topped expected consumer price inflation, which fell slightly, to 2.71 percent.

  5. grim says:

    Some interesting tables in the HQ2 piece in the Ledger the other day:

    Move over, NYC — Newark’s the cheaper option for Amazon HQ2, study finds

    NY Metro labor pool is obviously stronger, the total cost of operations in this area is not substantially higher than Atlanta, in fact lower than Boston and Washington as well. Newark represents the lowest cost option with the largest labor pool access. Atlanta just doesn’t seem like it has the talent available.

  6. J says:

    Mortgage rates would be a non-issue if the real estate taxes in NJ weren’t so high.

    You vote Dem and, soon enough, you will not be able to afford homes, at all.

  7. Very Stable Genius says:

    so you prefer money going into banks instead of schools.

    You vote Rep, soon enough, you will have 4 day school week like in Kansas

    J says:
    February 13, 2018 at 7:52 am
    Mortgage rates would be a non-issue if the real estate taxes in NJ weren’t so high.

    You vote Dem and, soon enough, you will not be able to afford homes, at all.

  8. Chi says:

    I am not going to say anything specific in this anecdote, but you can read between the lines. My broker-dealer has 4 major operational offices with shared services. The cities are NYC, Minneapolis, Phoenix and Atlanta. The finance, legal and regulatory stuff comes out of NYC. The product and marketing stuff out of MN. The intelligent person’s busywork AZ, and the pure low grade garbage Atlanta. In fact anything don’t out of that office you can assume is done incorrectly or simply lost.

    I am now part of a third different situation where ATK was assumed as a sinkhole to be avoided at all costs. It is the workforce down. Georgia Tech. Are you fcuking kidding me?

    grim says:
    February 13, 2018 at 6:55 am
    Some interesting tables in the HQ2 piece in the Ledger the other day:

    Move over, NYC — Newark’s the cheaper option for Amazon HQ2, study finds

    NY Metro labor pool is obviously stronger, the total cost of operations in this area is not substantially higher than Atlanta, in fact lower than Boston and Washington as well. Newark represents the lowest cost option with the largest labor pool access. Atlanta just doesn’t seem like it has the talent available.

  9. 3b says:

    I thought Atlanta from a geographical location made sense. Plus the airport. I had no idea the city otherwise was so undesirable.

  10. leftwing says:

    30 Year, you out there.

    Have a question for you if you are so inclined……

  11. dentss dunnigan says:

    Very Stable Genius …I prefer to have the option of not paying a bank the interest over being forces to pay property taxes …plus if you have no mortgage no bank payments ..

  12. Grim says:

    Atlanta is a key southeast distribution hub.

  13. Blue Ribbon Teacher says:

    It is possible to have a 5 day school week without sky high real estate taxes…especially if Abbott ruling is ever legally challenged.

  14. Hold my beer says:

    I thought traffic in Atlanta was terrible. Both from people I know who lived there and the 1 time I drove through it.

  15. Libturd says:

    ” Georgia Tech. Are you fcuking kidding me?”

    There’s a reason they are nicknamed the Rambling Wreck.

    Considering how important lobbying will be to a company like Amazon, if that final list IS what was revealed. DC’s got it in the bag. Heck, might as well just knock down RFK and let them build the Future Bezos Memorial right there. Heck build the Amazon Pen1s Smile Monument right next to it. After all, looking at the concessions every dumb political bozo is willing to make for them, they might as well just become an arm of the government. With all of the subsidies they receive. They pretty much are already. Heck, if it wasn’t for them. The USPS would have been out of business by now.

  16. grim says:

    Agree with Stu – You can’t downplay the potential legislative benefits of dropping 50k workers in DC metro. It’s the Ghengis Khan approach, you can’t take over a people unless you make them family.

    Amazon is getting to the point where it’s biggest threats and opportunities are legislative. At some point, the words anti-trust are going to be thrown around.

  17. Amazon InNewark4Ever says:
  18. Libturd says:

    Yeah…I did this in about 90 seconds.

    https://tinyurl.com/HQ2-RFK

  19. No One says:

    Original article: “buyers over the past six years have gotten more used to rates in the 3 percent range.”
    This seems to be sloppy thinking. What is the average time between home purchases? Longer than 5 years I’d bet. So the mortgage rate that one buyer got 5 years ago hardly means that a different buyer today is accustomed to it. Anyone who hasn’t bought or refinanced since 2010 never saw sub-5% mortgage rates anyway. Which is probably most people.

    I wonder what is the average mortgage rate outstanding at the moment across the country. My guess is not under 4%. I think it’s more likely people will move with a 5% rate if they feel good about their jobs and incomes, compared to moving with a 4% rate and dubious prospects. There is some friction to moving if you have to leave a lower rate mortgage for a higher rate mortgage, no doubt, but economic health is an offsetting force.

  20. leftwing says:

    DC/MD/VA trending up strongly. Not just for the lobbying reasons above, but Bezos’s political leanings. Plus his residence already there and the WP.

    Bottom line, if you are the richest guy on earth, your company accommodates you. He’ll be DC-centric with or without HQ2 there, so may as well drop it there and get the bennies.

  21. Libturd says:

    Can’t deny the RFK space. Up and coming neighborhood going through major gentrification. DC United moved out this year so it’s vacant and decrepit. Lot’s of land.

  22. Libturd says:

    Metro, though not expansive, is clean and efficient, unlike MTA and NJT. Right of highways too.

  23. grim says:

    Here is a little gem

    Great TED talk.

  24. grim says:

    I wonder what is the average mortgage rate outstanding at the moment across the country. My guess is not under 4%

    Need to track down the stat, but I believe some time last year, at least 25% of outstanding mortgages could have been refinanced to save money, but had not refinanced. I would imagine somewhere between 4.5-5%.

  25. Libturd says:

    Hey Grim,

    Sold brother in law’s condo in Manalapan after three years of ownership, with 5% commission paid to realtor and after transfer tax reduced since he’s disabled for near break even. It went from 345 to 365 with absolutely not a bloody cent having been spent for upgrading. They didn’t even paint it. Just thought I’d share. Sold in first week. Neighborhood is hot since it’s walking distance to Wegmans.

    Yes…we told him not to buy three years ago.

  26. JCer says:

    aggh, Manalapan, I have some family who moved down there it is the Jersey equivalent of h*ll. Nothing but tract housing(some mcmansions and some straight up shoddy housing), strip shopping centers and traffic as far as the eye can see….I don’t understand why anyone would want to live there.

  27. leftwing says:

    “equivalent of h*ll…strip shopping centers and traffic as far as the eye can see….I don’t understand why anyone would want to live there”

    Manalapan or most of metro-NYC Jersey lol.

  28. Blue Ribbon Teacher says:

    DC makes the most sense. They can then hold meetings lobbying without ever getting on a plane.

  29. 3b says:

    No one it could mean the rate levels they are used to hearing about over the last few years assuming they were paying attention.

  30. Fast Eddie says:

    I don’t understand why anyone would want to live there.

    Cross the Ocean County line into Brick and then Toms River. Talk about honky tonk hell… or hillbilly heaven. My first house was in Bayville. I have no idea what the f.uck I was thinking other my family had a second home there. By year two, I was ready to jump off a bridge. I commuted for two years from Bayville to Roseland. It’s where culture goes to die. Even the flat, sandy scenario is depressing.

  31. JCer says:

    I know Brick and there are parts of Manalapan like it, it’s like deliverance country, at least the water front areas(in Toms River and Brick) are somewhat nice but it isn’t a place to be outside of summer.

  32. Libturd says:

    I dated a girl from Bayville for 4 years in my Undergrad. A fiery redhead. She dumped me and then married some Latino ex military guy who I swear, abuses her. I think I was too good for her. The one good thing that comes out of Bayville is excellent baseball players. This is not surprising as it’s as close to bass ackwards that you’ll find in Jersey. Who knew the shore could be so hickey. That stretch of route 9 should be avoided at all times unless you are riding a bicycle.

  33. JCer says:

    Yes the area around the Jersey shore might as well be Alabama, you need to see Salem county to really experience it.

  34. Libturd says:

    4 players from Bayville have been drafted. Most famous being Al Leiter.

  35. 3b says:

    There are some pretty hick type areas in Bergen and Passaic too.

  36. Libturd says:

    Do you mean spick?

  37. Fast Eddie says:

    Al Leiter went to Lacey HS? I think. Or Central Regional? Jeff Musclemen, too? Todd Frasier is from Toms River I believe. Route 9 from exit 80 on down is a so Alabama-ish that it’s almost sad. What a shith0le. It’s where culture went to die.

  38. Fast Eddie says:

    There are some pretty hick type areas in Bergen and Passaic too.

    Go live in Bayville for a while, it makes the Ramapo Mountains look like paradise.

  39. Hold my beer says:

    Once you are south of Wall township you might as well be in Alabama .

  40. Fast Eddie says:

    Once you are south of Wall township you might as well be in Alabama .

    True dat!!

  41. Hold my beer says:

    I was in toms river 2 years ago. The locals were still sporting mullets

  42. Hold my beer says:

    Everyone one had a hairdo from lethal weapon or magnum p.i.

  43. 3b says:

    Nah hick! Actually I find more than a few of the so called sophisticated north Jersey types are pretty ignorant,no better than being hick like in my opinion.

  44. Libturd says:

    This is no place for snowflakes.

  45. 3b says:

    Night life in north Jersey sucks too. Just saying.

  46. Libturd says:

    There’s always the cover bands to cheer on in Nyack and Nanuet.

  47. 3b says:

    Lib actually some good restaurants and music in Nyack. And of course there is always Feathers in Bergen Co, for those so inclined.

  48. JCer says:

    Hoboken and JC, that’s all we go folks…………

  49. Bloomberg News says:

    Looks like Alabama is a bit further west…

    https://imgur.com/gallery/Pwnf4

  50. Hold my beer says:

    Hoboken is for the 30 year olds who still think they are in a never ending frat party

  51. D-FENS says:

    Typical Bergen county. Everyone thinks they’re in the 6th borough and they’re hot sh1t.

  52. D-FENS says:

    South Jersey runs the joint now btw. They have most of the control of the NJ Legislature.

  53. Libturd says:

    Hoboken reminds me a lot of Brooklyn. Lot’s of spoiled 20 something’s who pay majority of their income for housing and over pay at restaurants and supermarkets for mediocre food served in hip looking establishments. I remember visiting a friend in Park Slope like 15 years ago. Rather than go out to eat, we decided to make a nice garden salad and eat in. We spent $30 at D’agostino for not-very-fresh vegetables. Never really understood the cache of living there. Can’t use the public schools. The Park itself is kindy dumpy and covered in graffiti. You can’t leave your kids to play there alone as they’ll get their sh1t stolen by the TRUE urban kids (section 8 dwellers). And the restaurants are really quite weak. Montclair has them licked easily and it’s way, way, way cheaper.

  54. chicagofinance says:

    DC Metro is OK. However, it is buried deep in the ground like the new NYC Subway stations, and it makes ingress and egress time wasting. It is also kind of slow, and is extremely jerky (because it is run by computers). A good number of the trainstock is leftovers from the 1970’s. It is also expensive for what it is. DC in general is really has the feel of big government in charge. If you don’t budget for $1,000 in varies fines and infractions, you will be unprepared.

    It feels like this….
    https://www.youtube.com/watch?v=BffgC5DKQG0

    Libturd says:
    February 13, 2018 at 10:16 am
    Metro, though not expansive, is clean and efficient, unlike MTA and NJT. Right of highways too.

  55. 3b says:

    Lib one of the best Italian restaurants we ever ate in was in Montclair near the theater. Can’t remember the name. Lots of turnover there. We will be in Montclair Saturday visiting friends.

  56. chicagofinance says:

    I am not going to defend Manalapan, but give it some context. Down in Monmouth County, there are areas that are on the outer fringe of being commutable to NYC. If you add 10-15 minutes south or west from this fringe, the prices drop dramatically. So there is an affordability benefit. Also, Monmouth County has very valuable real estate in it, but other than Asbury Park (which is miniscule), it has no vast urban sinkhole such as Newark, Paterson, Jersey City, Elizabeth, Trenton, Camden or Atlantic City. As a result, the property taxes are WAY lower. Additionally, don’t discount the idea of the beach being right there, so basically June to September you are ALREADY down the shore and can easily day trip or even just spend a few hours.

    You can’t judge and area by route 9 or the GSP. It is similar to judging NJ by the Meadowlands, Hudson County, and Carteret. Also Manalapan is West and South enough to easily access NJTP at exits 8 & 8A, so Philly and Bucks County are just as accessible as the Poconos are to North Jersey……plus you get the beach.

    JCer says:
    February 13, 2018 at 10:36 am
    aggh, Manalapan, I have some family who moved down there it is the Jersey equivalent of h*ll. Nothing but tract housing(some mcmansions and some straight up shoddy housing), strip shopping centers and traffic as far as the eye can see….I don’t understand why anyone would want to live there.

  57. JCer says:

    I understand the draw of Monmouth county, my sister lives in Red Bank, we have some family friends in Rumson. That area is nice(Rumson, Fair Haven, Little Silver, parts of Middletown) and close to the water and there are some decent restaurants, the commute is bearable. Manalapan has a long commute and on a Saturday from many parts of it getting to Red Bank could take a half hour, if you’re idea of fine dining is a trip to TGI Friday’s it’s ok, otherwise it’s a schlep. Also most of it has been so housing track developed that it lacks the rural charm of some of the nearby towns. Besides being somewhat cheaper than the desirable towns nearby and having decent schools I fail to see how it appeals to anyone.

  58. The Original NJ ExPat says:

    It’s not as bad as Beijing, close though.

    I thought traffic in Atlanta was terrible. Both from people I know who lived there and the 1 time I drove through it.

  59. Libturd says:

    Good Russian food believe it or not. It’s odd, but the best Russian food I’ve had outside of Coney Island is right there in the Marlboro/Manalapan corridor.

    Chi is correct. The area has it’s positives, starting with low property taxes and in many cases, really good schools (now how is that Pumps?). From a recreational standpoint, there are huge county parks everywhere and once you get away from Route 9, a lot of rural space. And most homes are built on an acre down there. Not the half acre or quarter acre that is so common in the rest of Jersey. The negatives are Route 9 traffic and strip mall mania. On the bright side though, there are a lot of decent mom and pop places to eat and shop at. Unfortunately, theres a lot of Nouveaux Riche from Staten Island that you’ll be eating with. All in all though, it’s a heck of a decent value. It’s nice not having to pay for the urban nightmare next door that’s also responsible for most of your crime too.

  60. The Original NJ ExPat says:

    BTW, 1.9% 1 year CDs now available in brokerage accounts. This is the first step up since late December’s 1.85% rate.

  61. Libturd says:

    Traffic in Indian cities is unparalleled. Though getting in between NY and NJ is getting there.

  62. Blue Ribbon Teacher says:

    Hoboken reminds me a lot of Brooklyn. Lot’s of spoiled 20 something’s who pay majority of their income for housing and over pay at restaurants and supermarkets for mediocre food served in hip looking establishments.

    Morristown is the same way. On my most recent trip, I paid $13 for a pretzel in a bar. I was told that I must try it. Super pretzels taste better.

  63. ex-Jersey says:

    10:54 only chick i knew from Bayville looked Taylor Swift with sleeve tats.

  64. The Original NJ ExPat says:
  65. Libturd says:

    Oh…saw where the second case of an unvaccinated kindergartner died of the flu in NJ. They should ship these parents to jail after the funeral.

  66. Libturd says:

    Morristown is another fine example. Though I give them their props on actually having a large immigrant population which is trying to keep it real. Their restaurants are improving too, but still not up to Montclair or NYC/Chicago standards IMO.

  67. Libturd says:

    “10:54 only chick i knew from Bayville looked Taylor Swift with sleeve tats.”

    That’s kinda hot.

  68. The Original NJ ExPat says:

    LOL. I forgot there is a Bayville in NJ (I always think Long Island when I hear that town name). Lib – you’ll get a kick out of this: My 4 year undergrad gf was also a fiery one, a Polish girl form down neck Newark who played ice hockey, even as an adult. She used to complain about some of the older woman teams that would only play “no check” games.

    Her family had a very modest Summer home in Waretown, real close to Bayville. I remember we were fishing down there from a rowboat after a big all night party at her parents house. She was rowing, I was fishing. I fell asleep and dropped and lost her pole in the bay.

    I dated a girl from Bayville for 4 years in my Undergrad. A fiery redhead. She dumped me and then married some Latino ex military guy who I swear, abuses her. I think I was too good for her. The one good thing that comes out of Bayville is excellent baseball players. This is not surprising as it’s as close to bass ackwards that you’ll find in Jersey. Who knew the shore could be so hickey. That stretch of route 9 should be avoided at all times unless you are riding a bicycle.

  69. Yo! says:

    One big negative for Monmouth County is beginning in 2015, the population began to decline. This is first time since data began in 1790 that Monmouth’s population shrunk.

    Declining population is rarely a positive indicator of quality of life or the trend in real estate values. All 4 counties bordering Monmouth are seeing slow population increases.

  70. 3b says:

    I like Monmouth Co once you are away from the Route 9 mess. Looks cleaner than Bergen Co too and as Stu says some great local places to eat. Better drivers too than Bergen Co.

  71. 3b says:

    Yo any thoughts on why the population in Monmouth is declining.

  72. 3b says:

    Quite a few run down sad looking towns in Bergen Co too and I am not talking about south Bergen.

  73. 3b says:

    Can’t believe how much Harrison is gentrifying. Who would have thought.

  74. Libturd says:

    Waretown is the absolute cheapest place to live in NJ. Due to the Nuclear plant, you pay nothing in property taxes. Though, I swear the kids are all brain damaged from eating the crabs out of the cooling ponds. That Bayville girl I dated, who didn’t play hockey, though her dad was an avid fan, was close to a couple who too bought a place in Waretown. It was pretty small, but cost next to nothing. I heard a Sonic went up down there and you can’t even get in to the parking lot. That’s all you need to know.

  75. Libturd says:

    “Can’t believe how much Harrison is gentrifying. Who would have thought.”

    Me! Just wish I acted on the gut feeling. Went to that crappy overrated fish and chip place north of there in Kearny. Saw the beginnings of the change there about ten years ago. There’s a lot of overflowing Iron Bound culture there. Proud blue collar types. Lots of decent/cheap local bars and sports clubs. Red Bull Arena put the icing on the cake. Saw they are opening an Ah Pizz right by the new PATH station. By the way, the pizza place in the strip mall by the Wendy’s has fantastic old school sicilian pie. Our tailgate consists of two slices of that with our cosh of craft beer. Way, way, way cheaper than anything else around. We used to walk over to Five Guys, but it’s just too greasy. By the way, slip the guys a $10 at the VIP parking and you’ll get both a nice spot to tailgate on the grass and easy access to exit on the way out. Will save you a 30 to 45 minute delay after the game. Well worth it. At this point, I’ve done it so many times that they won’t take my tip anymore. You don’t need any pass for VIP parking. It’s just more general parking.

  76. Fast Eddie says:

    Can’t compare Monmouth County to Ocean Country, not even close. Monmouth Country has a lot of beautiful areas, both the beach and inland.

  77. Yo! says:

    Monmouth decline is caused by stagnant economy in central and northern NJ, long commute to Manhattan where the job creation is, Monmouth municipalities unwillingness to issue residential building permits, and lack of growing ethnic communities.

    Just look at Eatontown’s unwillingness to let the owner of dying Monmouth mall, Eatontown’s biggest taxpayer, add apartments to the property. Projects like this are the only way to reverse the decline.

  78. The Original NJ ExPat says:

    Usually true, but not always. Where I grew up in Morris County the vast majority of houses were built between 1957 and 1965. These became first time homes for families just starting out. Since there was so much demographic similarity, by the early 1980’s these homes were now 7 times as expensive as new and filled with empty-nesters who were still working and only in their fourties. My HS went from graduating classes of around 350 down to as low as 110 by the mid 80’s. It was only at this point that condos sprouted up and homes started turning over driving the population back up.

    The point is that when the population was at it’s lowest there was huge cohort of employed mid-late career people with a lot of discretionary spending money.

    This is just an anecdotal data point, of course. Generally, declining population goes part and parcel with overall decline.

    Declining population is rarely a positive indicator of quality of life or the trend in real estate values.

  79. Libturd says:

    “Yo any thoughts on why the population in Monmouth is declining.”

    Commute to NY, which used to be bearable, like the rest of NJT, has become too unreliable in the 2nd world state of NJ. Matawan station, where most train riders commute too has gotten too expensive to park and it’s a zoo getting home from there with all of the commuter traffic. They’ve made the shoulders on 9 bus lanes during rush hour, but it barely helps. Everyone rots on 495 no matter where you are coming from. There’s been talk of opening the Monmouth Line since the beginning of time, but there’s no more capacity in the tunnel. I hope one day the tunnels are all bombed and the only way into the city is by the GWB. New York City will grind to a halt.

  80. Fast Eddie says:

    3b,

    Bergen County is still light years ahead of most other areas. I know you don’t like the towns any longer but as for the proximity to NYC, it’s still hard to beat. I grew up in Jersey City, lived briefly down in hick town Ocean Country, a few years in Clifton and now in Bergen. I made the right move. I still think houses are outrageous price wise and the taxes are nuts but if it keeps the riff raff out a few more years, then so be it.

  81. Libturd says:

    I would also argue that a lot of those McMansions in the corridor were stretched in to. So many are inhabited by families JUST getting by.

  82. Yo! says:

    In 2017 through November, more multi family units were completed in Harrison (1 square mile) than Monmouth County (469 square miles).

  83. Libturd says:

    I like the housing stock and the mostly white people of Bergen County (don’t shoot me). The traffic and the mini and mega malls are annoying. I hate shopping.

  84. Libturd says:

    Yo! as a Red Bull season ticket holder, the growth around the stadium has been like Sim City on turbo. It’s truly unbelievable what has gone on there.

  85. The Original NJ ExPat says:

    In the mid 1980’s I was Pumpkin-level convinced that Sussex County was the “sleeping giant” of real estate. I envisioned Route 23 turning into a Route 80-like superhighway and huge gated communities would surround the ski slopes of VV/GG. Luckily I never invested up there, because I was Pumpkin-level wrong too.

  86. The Original NJ ExPat says:

    LOL!!! The all-night party I referred to in Waretown was my gf’s family’s annual “Crabathon” party.

    Though, I swear the kids are all brain damaged from eating the crabs out of the cooling ponds.

  87. The Original NJ ExPat says:

    Thistle or Argyle? Back in the late 80’s my best friend had a small apartment in Kearny while he was attending Seton Hall Law in Newark. We used to go to Thistle almost every Friday night to begin our night. Back then Thistle was really cool because it was a BYOB place, so we each order the Fish & Chips and split our own six pack before we went somewhere else for the real fun.

    Me! Just wish I acted on the gut feeling. Went to that crappy overrated fish and chip place north of there in Kearny.

  88. Libturd says:

    Argyle.

  89. Libturd says:

    Very good fried fish to be had here in Montclair at Oh My Cod. They also offer whiting, which I like better than cod. And real mushy peas. It’s really authentic. Want proof? Try to get through the chefs unbelievably strong c0ckney accent. Their mushy peas are incredible too. Problem is, fried fish is terrible for you.

  90. Nomad says:

    Is the purpose of the big short for 10 years to get Uncle Sam not to raise rates and stop the roll off all to drive equities higher?

    https://www.bloomberg.com/news/articles/2018-02-12/hedge-funds-biggest-short-in-bonds-faces-make-or-break-moment

    HQ2 in no particular order: PHL, PITTS, EWR

  91. Mostly Gibberish says:

    “…Ya’ll…” throw that hick term around like you know something about it. You haven’t met hick till you come face to face with an Eastern KY fella straight out of the backwoods. Those dudes are awesome and incredibly scary at the same time. They’ll eat your spleen like a canapés .

  92. 3b says:

    Fast I don’t dislike towns now as you say. I just think the hype is over rated when it comes to Bergen Co. it’s there to justify the prices and the outrageous taxes and the schools while good are over rated. As for the riff raff as you say it’s here. Wherther you choose to believe it or not. And there will be more in my opinion. That’s another issue I have the refusal by a lot of these folks to recognize the suburbs are not Mayberry any more. When we first moved here we loved it. It’s gone down In many respects. We don’t hate it, but rather we are indifferent. Perhaps part of it is our kids are raised no schools to be concerned about any more.

  93. 3b says:

    Lib I hear you on Harrison. My son tried to talk me into it. Didn’t listen he went and took the plunge. It’s working out well for him.

  94. Fast Eddie says:

    “…Ya’ll…” throw that hick term around like you know something about it. You haven’t met hick till you come face to face with an Eastern KY fella straight out of the backwoods. Those dudes are awesome and incredibly scary at the same time. They’ll eat your spleen like a canapés .

    Had to throw that “Ya’ll” in there to make you feel like you belong, right? lol! Okay, you made your point. Very nice.

  95. 3b says:

    People marrying later and having fewer kids that leads to population decline as well.

  96. 3b says:

    Especially school enrollment.

  97. Fast Eddie says:

    3b,

    I don’t see the riff raff yet. Maybe when I’m dead they’ll move in but right now, it’s pretty nice as far as I’m concerned.

  98. 3b says:

    Cumberland Co NJ has a Kentucky feel!

  99. 3b says:

    Fast you might look a little harder. If not yet it’s close by. Just saying.

  100. Comrade Nom Deplume, licking his proverbial wounds says:

    I’m being asked to consider a move back to New Jersey.

    https://gph.is/1SRsBEV

  101. Libturd says:

    Might I suggest Waretown?

  102. chicagofinance says:

    I agree with 3B……. no jobs, so no young families, also real estate is not affordable, school enrollment down…..there are commuters, but there are also tons of retirees staying in place…..former Bell Labs/Lucent types…..the population decline if viewed more closely (TOTAL GUESS)…..people dying and not being replaced by newborns.

    In the same vein as the population declining, I would also assume that the median age is older too……

    Also, a cynic would say that it is very republican, so there might be some fudging of numbers against the enemy……or better that people with jobs and wealth are less likely to lie about the mundane such as “how many people live in your house?”, because there really isn’t any economic benefit for doing so……..or need to cover for some type of fraud…..

    Yo! says:
    February 13, 2018 at 1:52 pm
    Monmouth decline is caused by stagnant economy in central and northern NJ, long commute to Manhattan where the job creation is, Monmouth municipalities unwillingness to issue residential building permits, and lack of growing ethnic communities.

    Just look at Eatontown’s unwillingness to let the owner of dying Monmouth mall, Eatontown’s biggest taxpayer, add apartments to the property. Projects like this are the only way to reverse the decline.

  103. The Great Pumpkin says:

    I have no idea what you are talking about with rift raft in BC. They have always had a street or two where the rift raft lived, but to act like rift raft is moving into desirable homes and neighborhoods is just plain wrong.

    Just for example, Ridgewood had one street where the porch people (you know the correct term) would hang out on their front porch and drink their 40’s out of brown bags. Not saying the steeet, but I’m sure it still applies.

    3b says:
    February 13, 2018 at 3:09 pm
    Fast I don’t dislike towns now as you say. I just think the hype is over rated when it comes to Bergen Co. it’s there to justify the prices and the outrageous taxes and the schools while good are over rated. As for the riff raff as you say it’s here. Wherther you choose to believe it or not. And there will be more in my opinion. That’s another issue I have the refusal by a lot of these folks to recognize the suburbs are not Mayberry any more. When we first moved here we loved it. It’s gone down In many respects. We don’t hate it, but rather we are indifferent. Perhaps part of it is our kids are raised no schools to be concerned about any more.

  104. The Great Pumpkin says:

    Yes, you hit the nail on the head. The population decline is due to people living longer and remaining in place during retirement. So as their kids leave and are not replaced, it’s kind of hard to create growth in population with these individuals staying in place and no new construction to create growth. That county is pretty established right now based on current zoning laws. Hard to create new massive construction.

    chicagofinance says:
    February 13, 2018 at 4:44 pm
    I agree with 3B……. no jobs, so no young families, also real estate is not affordable, school enrollment down…..there are commuters, but there are also tons of retirees staying in place…..former Bell Labs/Lucent types…..the population decline if viewed more closely (TOTAL GUESS)…..people dying and not being replaced by newborns.

    In the same vein as the population declining, I would also assume that the median age is older too……

  105. The Great Pumpkin says:

    Lots of these people moved to Monmouth county during the late 80’s to early 2000’s build up and have stayed in place for most of that time.

  106. The Great Pumpkin says:

    🙌🏻 Come back to the good life, you deserve it!

    Comrade Nom Deplume, licking his proverbial wounds says:
    February 13, 2018 at 3:59 pm
    I’m being asked to consider a move back to New Jersey.

    https://gph.is/1SRsBEV

  107. The Great Pumpkin says:

    It’s a beautiful thing.

    Libturd says:
    February 13, 2018 at 1:58 pm
    I like the housing stock and the mostly white people of Bergen County (don’t shoot me).

  108. The Great Pumpkin says:

    What’s really scary is what they eat. Love me some backyard fresh squirrel.

    Mostly Gibberish says:
    February 13, 2018 at 3:05 pm
    “…Ya’ll…” throw that hick term around like you know something about it. You haven’t met hick till you come face to face with an Eastern KY fella straight out of the backwoods. Those dudes are awesome and incredibly scary at the same time. They’ll eat your spleen like a canapés .

  109. Yo! says:

    Monmouth County population

    2010
    75 41,853

    2016
    75 43,084

    Shocking decline in young people in Monmouth. Are school districts reducing administrative personnel and spending to match the change in school age population.

    Monmouth County could reverse the negative population trend by issuing more residential building permits, including multifamily units. This is what Harrison did and school enrollment is rising there at a steady clip.

  110. Yo! says:

    Sorry figured didn’t come through. Point is number of children in Monmouth is shrinking rapidly, while 75+ grows.

    Under 5 population in Monmouth went from 36,000 in 2010 to 32,000 in 2016.

  111. Fabius Maximus says:

    Stu,

    Best parking at Red Bulls is the lot on South 3rd st. After the game its very easy to get out of the carpark and back up 2nd street and you are on 280 in about 3 mins. Note its a lot on S3rd not the hotel multi you have to pass to find it.

    Argyle and Thistle are hit and miss these days. Their mobile operations are a lot better and now that we are heading into Lent, will be all over Bergen Co. They know where the money is.

    When I want Fish and Chips in Montclair I head to Crocketts on Bloomfield. You can get the Whiting and also a clamstrip and Catfish fix.

  112. Blue Ribbon Teacher says:

    Shocking decline in young people in Monmouth. Are school districts reducing administrative personnel and spending to match the change in school age population.

    They’ll eliminate the teacher positions. They rarely eliminate administrative positions.

  113. 3b says:

    And I know I will get flack for this but their are families with children in Harrison!! Horrors!!

  114. 3b says:

    Porch people?? Never heard the term. And I said riff raff nothing more that applies broadly not to porch people as you refer. Sounds racist to me. Anyhow back to ignoring you.

  115. 3b says:

    Yo if population of school age children is decreasing than less children by less couples marrying or partnering . I thought their was something last year about many NJ school districts facing declining population.

  116. The Great Pumpkin says:

    You are one confusing individual. Families that sit on their front steps drinking brown bagged 40’s in Ridgewood isn’t riff raff? Wtf?

    3b says:
    February 13, 2018 at 7:25 pm
    Porch people?? Never heard the term. And I said riff raff nothing more that applies broadly not to porch people as you refer. Sounds racist to me. Anyhow back to ignoring you.

  117. Blue Ribbon Teacher says:

    Looks like Leonia sank their small businesses with their nonsense.

    https://www.northjersey.com/story/news/bergen/leonia/2018/02/08/traffic-ban-leonia-bad-business-shop-owners-say/316070002/

    LEONIA — Dante Pascali, owner of Dante’s Place on Broad Avenue, has taken phone reservations for his Italian restaurant for 21 years.

    Three weeks ago, on the day the borough began closing off 60 residential side streets to nonresident commuter traffic, the tone of his customers suddenly changed.

    “People are now nervous when they call. They’re concerned,” Pascali said. “They have a choice to go anywhere else; they don’t have to go to Leonia. They can go to any surrounding community and have the same thing.”

    And they appear to be doing just that. Business at Dante’s Place has dropped 30 to 40 percent since the traffic laws — dubbed the Leonia Safe Streets program — went into effect, Pascali said.

    Safe Streets: Leonia road closures elicit sympathy, concern from neighboring towns

    Schools: Leonia schools receive $10,000 grant for environmental sustainability project

    Business: The Craft Lounge to close after a decade in Leonia

    The loss of customers, half of whom come from neighboring towns, has been profound.

    “We don’t work for much,” Pascali said. “This isn’t corporate America, this is Main Street business. The profit margin is very small, so any drop affects us.”

    At Andres Wine & Spirits, foot traffic decreased by 17 percent the first week of the closures and 13 percent the second week, said owner Luis Morales.

    At the nail salon Chic Shop, owner Clara Cho said her small business has also taken a significant hit.

    “We have a bottom line and we make a little more money than we pay rent. How can we make it?” Cho said. “People love coming here, but now they’re too scared to. They’re so afraid of a $200 ticket.”

    The fear of receiving one has successfully kept side streets free of commuter traffic, borough officials say. But it’s also unintentionally hurt businesses.

    Mayor Judah Zeigler and the Borough Council sent a letter Wednesday night urging residents to visit local business while the administration works on a solution.

    “As we said all along, this plan is meant to be an iterative process, and if we identify unintended negative consequences, we are committed to addressing those issues as quickly as possible,” the letter states. “This is clearly one of those unintended consequences — and we must fix it.”

    The letter placed blame for the business slowdown on the media, which have covered the road restrictions extensively but rarely mentioned that nonresidents driving to and from Leonia businesses or homes can use any Leonia street at any time.

    The borough’s main thoroughfares — Fort Lee Road, Broad Avenue and Grand Avenue — remain open to all traffic.

    It is not clear how police will be able to determine the difference between motorists traveling through Leonia to go to a destination in the borough and those traveling though Leonia to get the George Washington Bridge.

    Zeigler and Police Chief Tom Rowe could not be reached for comment on Thursday.

    Morales, the liquor store owner, said his customers have been scared away by the dozens of “Do Not Enter” signs that now greet drivers as they travel through the borough.

    “They see the sign and they don’t want to come into town,” he said.
    “Do Not Enter” signs now block out-of-town, rush-hour

    “Do Not Enter” signs now block out-of-town, rush-hour motorists from 60 residential streets in tiny Leonia each day of the week. (Photo: John Cichowski/NorthJersey.com)

    Cho also blamed the signage and said the closure of the street next to her salon, Elm Street, is particularly problematic.

    “They decided to put up the signs and they didn’t ask us,” she said. “This is really unfair to us.”

  118. The Great Pumpkin says:

    What?? Someone translate?

    3b says:
    February 13, 2018 at 7:27 pm
    Yo if population of school age children is decreasing than less children by less couples marrying or partnering . I thought their was something last year about many NJ school districts facing declining population.

  119. 3b says:

    Last time. I never mentioned Ridgewood porch people bags drinking etc. You really are an insufferable troll. It was nice here today without you.

  120. Fabius Maximus says:

    Justice.

    I get they wanted the building back, but how they went about it was a disgrace!

    https://www.architecturaldigest.com/story/5-pointz-developer-who-whitewashed-artists-murals-forced-to-pay-them-67-million

  121. Blue Ribbon Teacher says:

    Yo if population of school age children is decreasing than less children by less couples marrying or partnering . I thought their was something last year about many NJ school districts facing declining population.

    The district that I previously taught in had a mass migration into the town via new development that started approximately 15-20 years ago. Their children are all in middle/high school. The graduating high school class is near 500. The 1st grade class is around 250. The bubble is moving through the 6-12 grades and the deficit is now moving through the elementary school. It also doesn’t help that people are waiting until age 39.5 to start having their 1 kid. Prices are too high for another mass influx at this point. This could possibly mean half the staff gets eliminated at some point.

    The district I teach in now didn’t have that mass construction. Prices are sky high but we’ve still got a positive student population growth.

  122. 3b says:

    Blue ribbon thanks. I have been saying this for a while that the later age for people having children coupled with for many one and done is and will impact the suburbs including the desirability or need to move the suburbs in the first place. Time will tell.

  123. Grim says:

    K-5 enrollment dropping like a rock across NJ suburbs.

    I am causing a ruckus in Wayne telling people we need to start considering school closures and redistricting.

  124. 3b says:

    Grim They might run you out of town!

  125. Yo! says:

    In many urban areas, the places supposedly with bad school systems, k-5 enrollment is booming. Abbott districts like Hoboken and Jersey City are seeing enrollment jump.

  126. 3b says:

    Yo that goes with what I have been saying for a while now. A lot of these urban dwellers even with a kid or two are staying.

  127. Libturd sporting Tiger Wood says:

    Flab…I find the oil in Crockett’s gross tasting. Like they cook everything in the same fryer. For a better treat on that strip there’s the ribs at the Wood Pit which are really excellent. Though, they mess up orders with such regularity that I hate ordering from there. I haven’t had, but the fried chicken at Urban Chicken is supposed to be the real deal.

  128. Blue Ribbon Teacher says:

    I would suggest that if your school is running 25 per class and population is dropping off, let the class sizes shrink to 18. That was normal years ago and it ballooned to 25 under the pressure of budgets. Learning is more effective with smaller classes.

  129. Leftwing says:

    Hoboken is absolutely packed with strollers. If your memories are of the 90s take a trip during the middle of a workday. Very different now.

  130. Juice Box says:

    re: Hoboken is absolutely packed with strollers.

    Yes and the charter school war continues as well.

    https://patch.com/new-jersey/hoboken/lottery-hoboken-charter-school-favors-low-income-ell-students

  131. Juice Box says:

    They grew up and never took off the ear muffs…

    https://www.youtube.com/watch?v=va6nRaZ9eRg

    A class on “offensive speech” was canceled this week after a Princeton University professor used a racial slur to teach about hate speech.

    ANT 212: Cultural Freedoms — Hate Speech, Blasphemy, and Po*rn*ography, will be canceled.

    Freedom of expression is always limited, both by the harm that may be said to occur if unbridled and by the constraints of the dominant culture. Using such topics as hate speech on campus, the cultural defense plea, the Mapplethorpe exhibit, the Supreme Court opinions on pornography, and the Salman Rushdie affair, we will ask how civility relates to free speech, how codes may channel expression without oppression, and how cultural difference can relate to shared values and orientations.

  132. Juice Box says:

    grim in mod

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