“It’s grim all over”

From Bloomberg:

U.S. Starter Homes Are Scarcer, Pricier, Smaller and More Run-Down

Homebuyers in the U.S. have plenty to grouse about these days. Prices have climbed steeply in many metro areas, mortgage rates are rising and inventory is thin. But for people looking to purchase their first home, it’s ugly out there.

“Starter homes have become scarcer, pricier, smaller, older and more likely in need of some TLC” than they were six years ago, the real estate website Trulia reported Wednesday after analyzing housing stock across the country. Trulia began tracking prices and inventory in 2012.

It’s grim all over. American homes are at their least affordable in the report’s history. But the median listing price of available starter homes has risen 9.6 percent in the past year, easily beating out the trade-up and premium categories, while starter-home supply has fallen to a new low this quarter, Trulia reported.

Perhaps the most striking finding is that the very buyers who are typically least able to plunk down a lot of money are confronted with the least affordable homes. The share of income needed by those in the market for a premium home was 15 percent, and for a trade-up home 27 percent. For a starter it was 41 percent.

Adding insult to injury, the homes aimed at first-time buyers are less likely to be ready for human habitation than others, with fixer-uppers accounting for 11.2 percent of the category. They’re about nine years older than they were in 2012, and 2 percent smaller.

On the bright side, 2 percent isn’t a whole lot smaller. Until you learn that homes overall are more than 8 percent bigger.

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

109 Responses to “It’s grim all over”

  1. Hold my beer says:

    Starter homes in DFW area have gone up about 90% in the last 5 years.

  2. dentss dunnigan says:

    Austin Serial Bomber Dead: Blows Himself Up After Shootout With Police

  3. D-FENS says:

    NEVER buy a “starter” home. It will be your ender home.

  4. nwnj says:

    Yesterday turned out to be a rough day to be a bad guy. Police were 3/3.

  5. 3b says:

    And there are those who think these high housing prices are a good thing. When this bubble bursts it may be worse than the last one. The younger generation, millennial s are being screwed all around.

  6. grim says:

    NEVER buy a “starter” home. It will be your ender home.

    There was lots of discussion around this strategy during the bubble, especially when the low-end of the market was the most overpriced relative to market.

    I think the consensus was, buying a starter home is not a bad approach, but you need to consider your time horizon may be closer to 10 years. So if the strategy is to buy into a starter house and then move up in a few years, that’s a great way to lose.

  7. 3b says:

    If you are buying a house you should buy with the intention of staying permanently if need be. Fix it up ,pay it off.

  8. The Great Pumpkin says:

    The demographic spending patterns happening right before your eyes. I’ve said this in my predictions.

    Right now, they are driving up starter home prices, next stage will be move up homes, and final stage will be second homes. Rinse and repeat. Cycles are there if you are willing to see them. Just follow the spending patterns of a group that is slowing growing wealth along with having wealth transferred from parent baby boomer generation.

  9. The Great Pumpkin says:

    Best value long term right now is to hit the mid tier range. It’s underpriced, since it has the smallest market at the moment, which will change over time.

  10. Blue Ribbon Teacher says:

    In hindsight, I may have come out ahead if I bought a starter home. That is, bought it for $200k in cash. If the only thing I’m paying is property taxes and upkeeep, that would have gotten me ahead because it would have been less then the rent I paid. That being said, the stock market gains at that same time were more than whatever I would have saved.

    But buying a starter home on a mortgage, paying interest, and trying to sell 7 years down the road is not a winning strategy for most time periods. In fact, every starter home person I know magically bought in 05-08 and all are $100k behind where they should be today because of it.

  11. leftwing says:

    “Yesterday turned out to be a rough day to be a bad guy. Police were 3/3.”

    Best post in a while.

  12. grim says:

    Most people have an unrealistic mindset of being in a starter home for 3-5 years, flipping it for a profit, rolling that into the move-up. Even more unrealistic, they expect their starter home to appreciate more than the move-up would. Perhaps if you were able to time a market like Dallas correctly, that would have been an OK strategy, or maybe a gentrifying market, but that’s like hoping you win the lottery.

  13. 3b says:

    Blue exactly right. Buy once if you want in Jersey I don’t know why but buy and be done with it. The young generation needs to focus on retirement and how to handle child care issues if they have children. They should assume some 75 year old cape they buy today will be all they need to fund retirement etc.

  14. grim says:

    That said, being stuck in a starter home is a great strategy to keep housing costs in check.

  15. leftwing says:

    “NEVER buy a “starter” home. It will be your ender home.”

    Complicated. I would have done better all around on the personal residential side had I bought a ‘starter’, ie a home I knew I would move out of but in the area, demographic I wanted.

    Waiting until income came in line for a ‘forever’ home in the area, demographics wasn’t a winning strategy. Home prices increased at a heady clip and net net would have been better with an early buy and trade up. Didn’t get hurt, but starter to forever same area would have been better financially (and intangibly).

    Buying a ‘forever’ home in a slightly different area, demographic with early income wasn’t a winning strategy either as those home prices didn’t move nearly as much. Ended up with a slight gain but that was negated by the more rapidly increasing purchase price of a ‘forever’ home in the desired area. Would have again been better with a starter buy and and trade up, same town.

    Speaking of 95-current, all ups and downs considered.

    Guy I know still owns a classic starter. They topped out at two kids and an early divorce, he kept the house, so no need to ‘trade up’. His starter is representative of the area. Here are the purchase stats on his home:
    1995 $230k
    1999 $290k
    2000 $350k (not a typo)

    Today, just for knockdown value it would be at least $650k.

    I have other friends who bought forever homes in high end recognizable towns just 10 miles west who are flat on 1995 purchases of $900k.

    I have another friend who moved out of this starter neighborhood into a ‘forever’ neighborhood, same town, at $2.0m. He’s likely still underwater.

    Relative to both of them my starter friend is sitting on at least a double, and 100% equity cash, since the mortgage is gone….

  16. 3b says:

    Starter house in a good location as in not on busy street or backing up to a highway or strip mall is fine in my opinion. With people having less children and later and both working the house is empty most of the time any how. 3 beds, 2 baths small family room along with living dining combo and kitchen should be enough in my opinion.

  17. Blue Ribbon Teacher says:

    What I find discouraging is in all the articles and talking points, no one ever considers a young dual income married couple under 30 to just live in a 1 bedroom apartment. In the rent vs buy discussion, that’s what I rented. Of course I came out way ahead.

    Up until age 28, I was paying $500 a month in rent.

  18. xolepa says:

    My son and DIL bought a ‘starter’ home in Quincy MA summer of 2015. Her father, RIP, and I put in about $60k of sweat equity and purchases: gutted the kitchen (down to the bones), installed a small deck, installed attic doors, insulation, redid the basement……etc. It’s 3br/2ba. 1500 sqft finished space. The kids paid $410k. Now they have to sell because my son is doing his Fellowship year in DC. They are not moving back to Boston area.

    They spoke with the RE agent last week and the agent suggested they list at $525K. He stated its lower than market value but wants more viewings. Listing it at that price, he said, will certainly start a bidding war.

    Moral: ‘starter’ homes and their marketability is relative. We are just looking through NJ scopes.

  19. Libturd says:

    “That said, being stuck in a starter home is a great strategy to keep housing costs in check.”

    Especially if you buy and live in a multi family property.

    Our strategy worked like a charm, but to Grim’s point, we did live there for nearly 8 years (at what worked out to $1,000 month rent). She goes up on the MLS in April. Of course, for more money than I think it is worth, but my realtor wants to take the risk. I clearly told her that I will not go under a certain number no matter what and that I like her so I think she is making a mistake. She said she has a vested interested in liking me even if she wastes her time listing it, since those two units are like an ATM when it comes to getting the place rented.

  20. Libturd says:

    My place is in a truly excellent location. Will be fun to see how much I can get. Zillow has us at $671K. Saw a place up the street quite similar which went for 815 in a bidding war, but was told the buyers fell into a huge inheritance.

  21. 3b says:

    Lib why are you selling the multi?

  22. 3b says:

    What I find discouraging is that it’s another con game for this generation. Full disclosure my own Son is looking at a 2 family houses in Rutherford almost bought one but structural issues. Plans to rent both apartments and eventually move in and stay. He has no interest in the leafy north Bergen towns.

  23. Mike S says:

    I bought my ‘starter home’ (3BR / 1 Bath, ~ 1100 square feet – essex county) in 2011 for over $400K… I saved 20% for the down payment by living at home rent free for a few years
    I have probably put in about $40-50K since living here and the price has appreciated about $40-50K as well.

    Even if I wanted to buy the next house, we are looking at $750K+ – most requiring a ton of work and have bad locations.

    It is working out to stay in my starter home, and I do intend to stay here atleast 10+ years.

    Realtor fees + moving fees would set me back $30K just to move, why lose that free money?

  24. Fabius Maximus says:

    “Police were 3/3.”

    And we didn’t even need a good guy with a swimming pool on hand to help.

    Here’s a nice read
    Why the real defenders of the second amendment oppose the NRA

  25. Libturd says:

    “Lib why are you selling the multi?”

    My reasons are many, but primarily because I am concerned with the value of housing. There are huge headwinds a blowing (better known as unintended consequences of Trump’s tax law changes)!

    1) There are likely 4 interest rate hikes coming this year and gauging by the stock markets resilience, it will digest them just fine. But mortgage rates are going up a minimum of 1% by next Spring. I spoke with my mortgage broker and he agrees with me that times are about to get lean again. These aggressive interest rate hikes would not be necessary if Trump didn’t borrow to juice Wall Street.

    2) Trump’s tax plan also kills towns like Montclair where average tax rates are between 15 and 20K. This too will put downward pressure on local home values.

    3) Murphy is hellbent on making NJ unaffordable for everyone except for public sector workers. Every single police and fire contract is going to arbitration in the next 2 years and they will receive between 4 to 6% increases due to the lean years under Christie’s cap. Factor in the wage growth that Trump’s tax plan caused and they will have even more ammo. Murphy, will undoubtedly lift the property tax cap in exchange for not passing the Millionaires Tax (just watch this play out).

    4) Nothing makes my property more valuable than it’s proximity to Walnut Street Station on the Boonton Line. NJ Transit is showing no sign of improving since it needs federal money to do so. There will not be a penny given as long as our Dems continue to bash Trump which they will continue to do until he’s out of office which very well could be another seven years. The trains have gotten so bad on our line that less and less people are using them. They are THAT unreliable. And THEY are the selling point of my home.

    5) The demand for young families to want to rent an old home with a property is waning. Every where you look there are residential over retail apartments going up like wildfire. I actually think we are probably reaching saturation point for these and the cost to rent into them will start to drop. With so much brand new construction around, who wants to live in a 100-year old multi?

    6) The tax breaks I receive on the place are slowly being eliminated and we have managed to replace a bunch of them with self-employment breaks.

    7) Junior will be headed off to college in 5 years. And I’m not sure college is in the books for our 2nd child anymore (sadly).

    8) The stock market will likely be a much better place to put the downpayment than housing in my opinion. Especially in light of mortgage rates.

    9) NJ is going down the tubes. Rapidly.

  26. 3b says:

    Lib you have certainly put it all into perspective. I can’t find fault with any of it and I have been preaching many of your points for a while now. I am sorry for your second child. God Bless you and your family.

  27. Fabius Maximus says:


    “They existed. And someone was going to proclaim that they existed”

    What you seem to miss ( or misconstrue) is that yes they existed and poeple were aware that they existed. The funny part about email is that there is two sides, the sender and receiver. From the wife’s, email they knew she had sent emails to him and that was looked at in the initial investigation.
    What Rudy and DiGenova did was argue, “how can you be sure there is no classified material on there if you haven’t looked?” Comey has to reopen, and do due diligence, dot the I and cross the T and say, “Nothing there as expected”. At that point the political damage is done.
    A brilliant political move, we just need to confirm that it was legal and DiGenova didn’t have people talking (leaking) to him that shouldn’t have been,

  28. The Great Pumpkin says:

    Yes, your son has taken after his father. You both represent the opinion of the minority as opposed to the majority.

    And it’s not a con game, it’s called a market. Markets change, and this is how money is made and lost. Those leafy northern Bergen county are nothing more than a dream for the majority of the national and state population. I don’t think you will ever realize this. High end nj neighborhoods are some of the most beautiful and sought after areas in the country. Not new developments. Old established neighborhoods filled with unique charm and character.

    3b says:
    March 21, 2018 at 10:46 am
    What I find discouraging is that it’s another con game for this generation. Full disclosure my own Son is looking at a 2 family houses in Rutherford almost bought one but structural issues. Plans to rent both apartments and eventually move in and stay. He has no interest in the leafy north Bergen towns.

  29. The Original NJ ExPat says:

    The demographic spending patterns happening right before your eyes thoughts that I can’t control, running high speed around my un-medicated brain are coming directly from God. I’ve said this in my predictions.

  30. The Great Pumpkin says:

    When homes were built for appeal as opposed to profit. New areas of our country, are pure profit driven machines and the products show it. Unique and charming need not apply.

  31. Fabius Maximus says:


    I would look at a few of those points in a different light. I think a big issue is the Property Tax in your local area. If I go buy a 1Mil house in Montclair, I’m looking $30K taxes. The 1Mil house up in good parts of Bergen is $20K taxes. Montclair has a spending issue (outside of salaries) that you don’t see in other towns.
    I think the amount of new construction all over is crazy, its all rental and the rents are steep. Yes you are competing against new, but the price premium will still leave you space to make a buck.

    But ATEOTD, your personal situation, will drive your decision and that is why Clot always said it never goes to Zero, there will always be those that have to buy and those that have to sell.
    Good Luck, did you go with Sue Adler? … :*)

  32. The Original NJ ExPat says:

    11:28 Fab – I think you misconstrue my extremely simple argument.

    Comey had to announce the existence of the emails prior to the election or his career is done.

    Agree or not? Feel free to make a case where he says nothing and does just fine in the swamp afterward.

  33. Fabius Maximus says:


    I was trying to buy one of those back in the day with a view to converting back to a one family. I don’t know what its like these days, but make sure he has a look at the towns finances. I think they were planning a lot of bonding for projects like the downtown remodel.

  34. The Great Pumpkin says:

    Cost effective approach is the new norm. That’s why condos and townhomes are the new norm in developed areas that can’t put up 1,000 look a like homes on some dust lot like in Texas.

    Home construction of the high quality is becoming rarer and rarer as the cheap alternative is pounding it into the ground….barely breathing. All about the money, not the quality of life. A home for me means something. It’s a defining characteristic of your life. Too bad so many are selling their soul for cheap throw away garbage that is representative of “just a number in the crowd.” Different faces living in the same ikea space. Sad.

  35. The Great Pumpkin says:

    No right or wrong answer on this, but you know my advice. Keep it, ride this coming demographic wave in 2020’s. Might have fed induced recession before it booms, but the boom from demographic spending patterns on housing is inevitable.

    Libturd says:
    March 21, 2018 at 11:14 am
    “Lib why are you selling the multi?”

    My reasons are many, but primarily because I am concerned with the value of housing. There are huge headwinds a blowing (better known as unintended consequences of Trump’s tax law changes)!

  36. The Original NJ ExPat says:

    What Comey ultimately chose to do/i> was try to be too cute by one half.

    (listed chronologically)
    1. Sat on the emails for a month.
    2. Announced the emails.
    3. Took out a FISA warrant for surveillance on Trump.
    4. Clear Clinton on the emails.

    He tried to hedge too many times and his trades blew up on him.

    Before you go off on another tangent, my premise is just about what Comey did. I’m not making a single claim on outcomes or ramifications. I’m only making an observation that he was probably all about himself and nothing else.

    Put my simple thought experiment aside and try to answer this one:

    Do you find it ironic that Comey is now re-inventing himself as an expert on ethical leadership?

  37. The Great Pumpkin says:

    Exactly what I said in my earlier post.

    “Just follow the spending patterns of a group that is slowing growing wealth along with having wealth transferred from parent baby boomer generation.”

    “Saw a place up the street quite similar which went for 815 in a bidding war, but was told the buyers fell into a huge inheritance.”

  38. The Original NJ ExPat says:
  39. leftwing says:

    Fabs, Ex, not going to spend the day wading into your email argument but….

    The issue is simple, totally non-partisan here.

    In June 2016 WJC met Lynch (US AG) on the airfield in Phoenix. The weight around HRC’s neck in Presidential campaign at the time was the emails. In July 2016 Comey – contrary to all FBI practice and protocol – came out and announced the “matter” “closed”.

    He’s already under oath that Lynch instructed him on the “matter”, including specifically to refer to the investigation of HRC as a “matter” and not investigation. He’s testified he felt “queasy” doing so. But he did.

    So contrary to all prior practice the FBI through Comey acknowledged an investigation and deemed it closed by having reviewed all the evidence. He sends a letter to Congress documenting same, under oath. HRC was cleared by Comey based on a review of all the evidence.

    Had it all ended there everything fine. HRC cleared, path to POTUS open, Comey loyal soldier enabling same.

    Two curveballs….More evidence is discovered, dumped into Comey’s lap with the knowledge of many others. And, Trump becomes viable.

    Huge issue for him now….He can’t sit on the Weiner emails. Knowledge of this “new evidence” in an already “closed” investigation of HRC is well known in LEO circles, including areas outside FBI jurisdiction and influence (SDNY, NYPD). He’s in a lose/lose regardless of who becomes Pres if all this comes out post-election. So he takes the highest open road left open to him and goes public with the “new evidence”.

    Bottom line, what was assured to be swept under the rug with him amply rewarded for doing so in an HRC administration was rapidly unraveling. And he was going to be the fall guy.

    I still say you would have fireworks not seen since Watergate if Comey were to be granted total immunity. He continues to walk a very thin and fragile tightrope, but it’s all he can do at this point. Give him immunity and let him open up, wow.

    And, now to inject politics into the above, I can’t help but ROFLMAO that yet again, some horney liberal politician who can’t keep his pecker in his pants blows up HRC’s ultimate dreams and hopes. Makes me believe karma, if not a Superior Being.

  40. Bystander says:

    Good luck, Lib especially with little one. I think you are making right move. I can’t imagine the endured stress, coupled with all time and costs trying to keep up with multi. My neighbors are under contract after 2 months. They came down 20k but might see a small profit after 5 years of ownership. Must be good time as their place is not overly impressive. Personally I think a $h*tstorm ahead. Wages are still going nowhere. Going to my buddy’s layoff party tomorrow. Three months of hard, hard looking. Guy is go getter, contacting any and all people yet barely any interviews. He is freaking out with stay home wife and two kids. Just not seeing this enthusiasm played in real labor market. I think too much has run up based on irrational expected growth. Blumpkin is of course wrong. There is a big dive coming…war is coming.

  41. Fabius Maximus says:


    You accuse me of tangents, yet you head off on your own.

    “Do you find it ironic that Comey is now re-inventing himself as an expert on ethical leadership?”

    This is what I see more and more of from the GOP side. The subtle attempt to shape and rewrite the narrative. The implication that he was never an ethical leader. The quieter version of “Crooked Hillary”, “Lying Ted”

  42. 3b says:

    Pumps my son is looking to buy. I don’t own real estate in NJ. Now back to ignoring you.

  43. Fabius Maximus says:

    Anyone getting snow? I have nothing. Its snowing lightly, the roads are wet, but its not sticking so they are all clear.

  44. 3b says:

    Fab don’t know the finances in Rutherford seems like a decent town. This is what they want. I voiced my concerns about buying in NJ as a father should do. But they are set. Both making big bucks so hopefully it works out.

  45. 3b says:

    Snow coming down in Bergen.

  46. Fabius Maximus says:


    I’m about done with this thread. I only disagree with one point. It was not new evidence, it was existing that showed up in a new location.

  47. Libturd says:

    You don’t mean Lib. I’ve been ignoring the whole “is it Trump or HRC,” thing because in the end, it doesn’t matter. Everyone in these circles end up being pardoned and on the board of some pretty prestigious public companies.


  48. Libturd says:

    Heavy stuff not due until later this afternoon. Roads are fine though. I just got my dry cleaning and my Dunkin.

    How does a dry cleaner press 4 brand new dress shirts (in the package) for $9?

  49. Fabius Maximus says:

    Lib, apologies I meant Left.

    Scooter Libby give me hope that they can be held accoutable. But its all about the Benjamin’s!

  50. NJCoast says:

    Rain/sleet at the shore. Was supposed to feed the Beach Boys tonight but it was cancelled last night with the forecast. Looks like we could’ve done it after all. It’s a gamble, the promoters need to weigh the costs of setting up everything and then having cancelling. I hope the Cheiftains have the luck of the Irish and get their flight back to Dublin today, they were worried about it last night.

  51. joyce says:

    Sorry to beat a dead horse but I don’t think any of the tax changes affect your multi-property. That said, you have plenty of other concerns and reasons to sell.

  52. Libturd says:

    As a pass through, most don’t. But not everyone buying knows this.

    I should add another reason though and it’s a big one. I’m sick of dealing with Millenials who don’t know how to turn on a light switch and cry when everything is not absolutely perfect. This set I have in the downstairs unit is killing me and the great tenants I have upstairs are leaving most likely due to the lack of social skills/couth of their downstairs neighbors.

  53. The Original NJ ExPat says:

    I thought he admitted to leaking information to trigger a special counsel. Just a different kind of ethical, I guess?

    The implication that he was never an ethical leader.

  54. Hold my beer says:


    It is crazy how much prices have gone up in the Dallas area, especially the starter Home range. Factor in there is still so much raw land in this area and I don’t get it. Over the weekend I saw cattle grazing on one of the main commercial areas of Arlington. Easily that one plot alone could handle a 200 sfh development. And there was more vacant land across the street.

  55. The Original NJ ExPat says:

    Just like $12 million in payments, foreign agent (non registered), and collusion with Russians by the DNC and Hillary is fine. Just a different kind of ethical.

  56. Hold my beer says:

    When we were looking to buy all the agents talked about how great certainty areas were because prices had gone sideways there for the last decade. People were more concerned about depreciation than appreciation. Now everyone thinks they are a real estate genius for buying into an area that became hot later.

  57. William Wallace says:

    Question: if investing is so easy, why don’t banks offer 5% interest rates (or more) on savings accounts, and then invest depositor money in the stock market, etc, to earn the easy investing money for themselves?

    I see DollarSavingsDirect.com is now paying 1.8% FDIC insured, that’s for a fully liquid account. Just deposited $100k.

    Why do banks tie the interest rate on a savings account to LIBOR, if investing is so easy?

  58. 3b says:

    Joyce I think the 10k deduction limit will impact prices as will rising property taxes.

  59. 3b says:

    The Fed hikes and signals 3 more increases for 2018.

  60. joyce says:

    It’s my understanding that property taxes are an expense of the business (multi) and there is no cap.

  61. Libturd says:

    Right. But no one wants overpriced multis without 4 units.

  62. Fast Eddie says:

    “The economic outlook has strengthened in recent months,” the committee said in its post-meeting statement, a sentence that had not been in previous releases.

    Thank you, President Trump!

  63. Libturd says:

    Just wait until next March Gary. :P We are in the prosperous period of borrowing to juice corporate earnings. Though, I wouldn’t put it past Trump to make this an annual tradition. Anything to look good.

  64. Libturd, Ch@neling JJ says:


    They can just put a one way lock on the front door and call it a prison.

    Seriously though, I would expect that building to resemble a yeshiva before an incarceration center.

  65. 3b says:

    Joyce sorry I meant sfh s.

  66. 3b says:

    I told you Grim all over Bergen County. 600 coming to Paramus too!

  67. The Great Pumpkin says:

    21st century version of the “projects.”

    “About half of the parcel will be reserved for 600 multi-family apartments and 200 senior housing units, according to the settlement. The other half will allow for retail space, including a service center and big box retailer. All housing will be one- and two-bedroom units, and the multi-family apartments will be built in four stories over a garage, the settlement states.“

  68. The Great Pumpkin says:

    I guess the 21st century version plan is to have one in every community. I guess they no longer want them concentrated in valuable urban centers, so they spread out the pain into each individual community. Every town should have a rich and poor section!

  69. 3b says:

    Or a poor and poorer section!! The suburbs won’t be the suburbs anymore!!

  70. grim says:

    High density mixed use is the future, get used to it.

  71. The Great Pumpkin says:

    For sure. Just a shitier quality of life packaged as a positive to the new generations.

    grim says:
    March 21, 2018 at 2:52 pm
    High density mixed use is the future, get used to it.

  72. Libturd questioning the gender of Hillary's Cankle fluid. says:

    If I wanted to live in a dorm, I would just go back to college.

  73. No One says:


    Wonder if a Chinese family with a car collection will buy this house. I don’t like the interiors.

  74. grim says:

    That garage looks like a nice place to live.

  75. 3b says:

    Grim I agree for better or worse. My whole point has been the traditional suburbs are over and people should be mindful of that when buying.

  76. 3b says:

    Crappy as per your definition of quality of life. But careful what you wish for high priced and high taxes come with consequences.

  77. The Original NJ ExPat says:

    Kids don’t want to live anywhere that reduces their glass-touching time.

  78. The Original NJ ExPat says:

    I picture personal devices getting much bigger as the mobility of the youngsters go down. One big glass surface mounted on a gumby type device. They’ll spend their entire existence in front of it. Some glass-touching will be to make money, some will be to spend money. The “winners” will be whoever can provide for themselves with the least mobility.

  79. Libturd questioning the gender of Hillary's Cankle fluid. says:

    Garage looks a little bit like Tidmouth Sheds.


  80. The Original NJ ExPat says:

    Not only will today’s teenagers not ever mow a lawn, they won’t even stand to be micro-agressed by the sound of anyone else doing it.

  81. Libturd questioning the gender of Hillary's Cankle fluid. says:

    Whoever makes the interface that will allow you to touch glass safely while you drive will be the next Bill Gates. I can’t tell you how many times I need to research something when I’m driving and don’t do it due to a combination of terrible voice recognition software and a non-touch friendly ios.

    If you only knew how many times I’ve uttered the following sequence.

    “Hey Siri, Launch Google, Okay Google search for blah. Okay Siri, read me page.”

  82. Not William Wallace says:

    The 5.25% minimum interest in saving account WAS the law until Greenspan and the neo-lib economist took over the Fed and kill anything to do with Volcker.

    Under Glass Steagall (Clinton kill it to get donation for Witchary’s NY Senate Campaign) FDIC could not invest in the Stock Market, only in loans (car, personal,business,mortgages and govertment securities), insurance companies only in bonds and government securities, and investment bank in anything (they were generally partnerships before Glass Steagall’s removal).

    After its removal, they did/do invest in the stock and more sophisticated markets. Great examples of these are Bear Sterns, Lehman Brothers, Wachovia, Washington Mutual and with insurance companies – well AIG.

    Investing is only easy if you are Goldman Sachs and JP Morgan and have the inside track on everything. More importantly, because a JPM/GS is THE first seller of outgoing US Treasury Securities as dealers, they get a vig on the sale upfront and guaranteed profit, plus are able to see where the flow is going and invest accordingly. Banking at the JPM/GS is all about money flow information and setting trades accordingly with the inside info.

    LIBOR, is used to set global interest rates on overnight inter-bank borrowing, but of course it was/likely still is rigged. Search google.

    Willie, investing looks great and everyone is a genius now. Now is very much like late 1999 or early 2007.

  83. Libturd questioning the gender of Hillary's Cankle fluid. says:

    NWW. Yes! Which is why I was so hell bent on letting Wall Street collapse during the financial crisis. Volcker is my hero. There will never be another one again. Wall Street sleeps with DC nowadays.

  84. Xolepa says:

    No One,
    My wife’s orthopedic doc, whom I know since 5th grade complained about his mortgage and house expenses couple months ago during a visit. So I looked him up. He owns a 7000 sqft home in Princeton proper and his annual tax bill is $50k. He paid $2.1M in year 2000. Seems not to have appreciated much since then.

    Started late, also, and has college age kids. At his age (around 63) and stature, I would have retired by now. Long retired….

    ….And gotten the hell out of Dodge.

    Which leads me to state that by the end of this week, I will cash out some investments and start building a retirement home in Sarasota County. We’ll be snowbirds, though. I am preparing to sell my house here in Hunterdon. It’s a shame, I consider myself living in a near paradise setting. Just can’t fathom keeping a big house and paying the taxes. Need to convert residency to FL, also.

  85. Libturd questioning the gender of Hillary's Cankle fluid. says:

    Good luck. FL is pretty nice, though nothing compares to SoCal IMO. And then there’s Costa Rica!

  86. The Original NJ ExPat says:

    Pumps – the rest of your life will be crap until you relinquish this delusion. New Jersey will turn into a condo version of Texas: “Whaah Da Hell Would I want ta buy a used home? Who knows what happened in thar? Somebody might have been squirting creamy Polish dressing everywhar!”

    High end nj neighborhoods are some of the most beautiful and sought after areas in the country. Not new developments. Old established neighborhoods filled with unique charm and character.

  87. The Original NJ ExPat says:

    Pumps – btw, when you say “Old established neighborhoods filled with unique charm and character” you mean 1994 on a double-yellow drag strip, right?


  88. Blue Ribbon Teacher says:

    Old established neighborhoods filled with unique charm and character.

    There’s a neighborhood in Trenton that used to be populated by doctors, lawyers, and other successful businessmen. They don’t live there anymore and you are likely to get shot. The houses were clearly the pride of the county 50 years ago.

  89. UNoMe says:

    Really mind boggling to me all this drama over Facebook.

    The company solely and exclusively exists to take every single piece of data it can ween about you and re-sell it to everyone.

    What’s unclear about that?

    CNBC keeps calling it a hack. There was no hack. Their business model, at the time the data transfer occurred, specifically provided for the data capture in question.

    Only reason they changed it is because it allowed interested parties to get it too cheaply, ie. circumventing paying Facebook directly.

    There was nothing inadvertent at all. It was the business model.

  90. Xolepa says:

    Blue Rib,
    In Newark, similar situation on then called High Street. My father loved that street. Talked about all the lion heads and the like. That was back in the 50s. Now it’s name MLK blvd. You can surmise what is is like now.

    BTW, when all my kids were in driving test age, I repeatedly told them to never drive in an area where a street was named MLK…. or
    p.s. To the great twitter regurgitator: Call me a bigot all you want. A fact’s a fact.

  91. Juice Box says:

    Power just blinked again. I bet it is the same three blocks of street with the overgrown trees again losing branches. Those homeowners really need to cut those trees down, they keep knocking out 1500+ homes when the main line goes down.

  92. Ex-Jersey says:

    3:31 I think the element of risk in buying ‘anything’ is significant. I am not quite ready to bury the burbs, but it is food for thought.

  93. Edgar says:


    Start watching at 5:30 – this guy was a big shot at FB and now owns half the Golden State Warriors.

    His kids don’t look at screens, ever and he does old school parenting. Thinks social media is ripping society apart.


  94. Blue Ribbon Teacher says:

    I forget where I heard this joke but the only street worse than Martin Luther King Blvd is Malcom X Boulevard.

  95. Blue Ribbon Teacher says:
  96. No One says:

    Good. And send reports on the best places to move to in Florida. I hear there are some nice places around Sarasota.

  97. Mike S says:

    If you think areas like montclair where tons of money is moving in, is going to turn to the next newark in the next 10-20 years, I really think you must be clueless.

    The amount of money going into areas closer to the city and away from further west is quite astonishing. You have a better chance of Newark becoming nice, than montclair becoming bad.

  98. The Great Pumpkin says:

    Home construction crisis: Why builders aren’t building – Fox News

  99. Libturd sporting Tiger Wood says:

    It’s not becoming bad. It’s finding people willing to spend 700K on a 100 year old POS multi on less than a quarter of an acre next to a train that will cost you your job if your company cares about punctuality. I never said it was becoming Newark. Nor would my place go for 700K on MLK boulevard. Maybe 170K?

  100. grim says:

    Florida will turn into Newark before Montclair does.

  101. The Great Pumpkin says:

    True story!

    grim says:
    March 21, 2018 at 8:40 pm
    Florida will turn into Newark before Montclair does.

  102. The Great Pumpkin says:

    Most of Florida is Newark, but because the living is not dense, people just don’t realize it.

  103. The Great Pumpkin says:

    Coasts are wealthy retirees, but inner Florida is another world. So many trailer parks and run down neighborhoods.

  104. Libturd questioning the gender of Hillary's Cankle fluid. says:

    Bradenton is Newark.

    Miami is Newark too, only the spooks are spicks.

  105. leftwing says:

    BRT, lol on that Chris Rock post. Literally just copied the same thing would have posted it if I didn’t see yours first!

    I take the back roads to Pru, so go right by MLK. Every I chuckle, thinking about that skit.

    Every city. The same thing.

  106. The Original NJ ExPat says:

    I used to work in space provided by NJIT on MLK Blvd, circa 1991. Corner of MLK and James St. in Newark. We arrived and left only during daylight hours. We had a small secure parking lot, but you had to manually lock and unlock the gate yourself. If anybody left that gate open for even two hours at least one car was guaranteed to be stolen. The funny thing is the thieves would leave another stolen car with a a nearly empty gas tank in it’s place.

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