From the Star Ledger:
While there is a significant amount of hype around an Atlantic City revival in 2018, that upward swing hasn’t happened just yet. You know what that means? It is still relatively inexpensive to buy real estate there.
In fact, in Realtor.com’s annual ranking of the most affordable beach towns, the real estate listings website ranked Atlantic City as the fourth most affordable one in the country, with a median home listing price of $229,800.
Realtor.com mentions that the casino town has had a litany of recent rough patches, ranging from the destruction that Hurricane Sandy caused to some of the most prominent casinos closing down.
“People walked away from their properties, [and] foreclosures and short sales went up,” Todd Gordon, a real estate agent at Hartman Home Team, told the website.
But they do make the case that Atlantic City is in the midst of a rejuvenation, while also already having desirable qualities, like an iconic boardwalk and a wide beach.
“Over the past year, the region has seen a surge in development. Look no farther than the $500 million renovation of the former Trump Taj Mahal, which will reopen later this month as the new ‘n’ improved Hard Rock Hotel & Casino,” Realtor.com wrote. “New projects such as this have helped to give oceanfront condo buying a lift. The rock-bottom prices are a big draw for buyers from Philadelphia and New York City.”
…
Zillow’s median home value index offers an even starker look at what real estate is worth in Atlantic City. According to Zillow, the median home value in Atlantic City is $80,400, which is up more than 40 percent from last year. In comparison, the median home value in popular Shore town Point Pleasant is $364,200.
New Jersey home to the happiest seaside town in the USA? Who the F*CK are they kidding?
From USA Today:
America’s happiest seaside town: Ocean City, N.J.
Happy seaside town” may sound redundant to many travelers. After all, people have been seeking out scenic spots by the water for as long as there have been people.
There was even a bestselling book, Blue Mind: The surprising science that shows how being near, in, on, or under water can make you happier, healthier, more connected, and better at what you do, that focused on the scientific evidence that being close to bodies of water promotes mental health and happiness.
Coastal Living ranks the best small waterfront communities for its annual “Happiest Seaside Town in America” issue, and for 2018, the happiest of them all is Ocean City, N.J.
Coastal Living calls out the classic Jersey Shore town for its “Residential Historic District full of Victorian bungalows and beach cottages making year-round life feel like an old-fashioned vacation.”
There is something to Blue Mind and New Jersey. This state has by far the lowest suicide rate of any state, meaning people here tend to be happy, not sad. New York and other oceanfront states are next. Highest suicide rates are concentrated in landlocked states. Why is this?
“The surprising science that shows how being near, in, on, or under water can make you happier…”
Real estate jokes aside, what does under water mean here?
MSNBC at this very moment: “The pompous GOP Credo was a sham all along”
They’re discussing the devastation and failure of Trump at the G7. They’re mocking Trump and how he treated Trudeau. Trump doesn’t value our allies… blah, blah, blah.
Not a word about a historic moment. Quick, someone post the liberal suicide hotline.
Landlocked states tend to have better access to guns, republican dominated governments bent on destroying social safety nets, more outward racism, misogyny and homophobia, and lack of employment opportunities and hope.
In fact, the 10 states with the lowest suicide rates are all traditionally democratic (or mostly democratic) controlled states which actively work to fix all those problems.
When the red states start showing up, most of those with the lower rates do have big water access—Gulf, Atlantic, Great Lakes. So it turns out, being a “leftist” is better for your mental health than even access to the beach. Makes sense. Capitalism kills.
“Highest suicide rates are concentrated in landlocked states. Why is this?”
Roll back the tape of Gary’s outrage back when Obama floated the idea of meeting with Kim.
BTW, MSNBC is owned by Comcast. Let’s not play stupid and think for a minute, they’re “the left”.
Fast Eddie says:
June 12, 2018 at 7:32 am
MSNBC at this very moment: “The pompous GOP Credo was a sham all along”
They’re discussing the devastation and failure of Trump at the G7. They’re mocking Trump and how he treated Trudeau. Trump doesn’t value our allies… blah, blah, blah.
Not a word about a historic moment. Quick, someone post the liberal suicide hotline.
Ocean City is a gem. Love that place.
Holy shit, CNN thinks it’s more important to have two aids on demonstrating how they taped paper together after Trump tore them up.
“Can you show us the size of the torn up paper”
“Can you demonstrate how you put the paper back together?”
This is very relevant. But stupid doesn’t believe in facts
Ottoman says:
June 12, 2018 at 7:44 am
BTW, MSNBC is owned by Comcast.
Roll back the tape of Gary’s outrage back when Obama floated the idea of meeting with Kim.
The key word here is “floated.” See the difference? Oblammy talked a lot and did next to nothing. It was an eight year void. He was a space holder… a book mark… a seat warmer. Your guy talked about weep rooms, inclusion, apologies and all kinds of puffery. Your guy holds a beer summit and our guy stabilizes continents. We won’t take advantage of your inherent weaknesses though because we understand compassion that’s not wrapped around fakery, symbols and convenience.
Too funny! Someone collected the videos of Fox News denouncing Obama for suggesting he meet with Kim. And that’s just the tip of the hypocritical moron ice berg. Vox also published a list of even more conservative ninnies and their rants against Obama for suggesting he do what they’re praising Trump for now.
Admit it Eddie, your mom smoked and drank profusely while she was pregnant with you. There can be no other explanation. (Ps, Let me know if you need the definition of “profusely”…or “explanation”… or “definition”)
https://nowthisnews.com/videos/politics/fox-news-different-reactions-regarding-negotiations-with-north-korea
@CBSThisMorning
“Both Trump and Kim are leaders that clearly really want some legitimization.
They want to be treated well… the most important takeaway long term is that the United States is probably going to be a much more marginal player at the end of the day in this region.”
–@ianbremmer
‘Holy shit, CNN thinks it’s more important to have two aids on…’
20 hours straight coverage of a photo-op obviously just wasn’t enough…
“North Korea’s pledge today does not mean action tomorrow” —> Headline at Marketwatch
If N Korea does not follow thru , what does the US loose? Sanctions stays,Military presence stays and War Games can always continue at anytime. We are so partisan that optimism is lost.
NKorea has everything to gain.US , an $18T economy gave them this guarantee.It will be stupid,if they do not follow thru.Its neighbors are all economic powerhouse today because of the US economy.
SKorea is rejoicing about this meeting. Optimism of peace is spreading around Asia.
Except for the Islands built by China used for Military strategy.
Obama let this happened on his watch
@McFaul
How can Trump establish an excellent relationship with a North Korean dictator in 45 minutes, but can’t establish working relationships with our longstanding democratic allies after 18 months?
Maybe those people you just mentioned are more deranged than Rocket man
‘We are so partisan that optimism is lost.’
The idea of meeting with this homicidal dictator was the worst idea ever. Until someone from their team did it.
So yes, very partisan.
NKorea destroyed the Nuclear Test Site
Panmunjom Declaration
1) South and North Korea affirmed the principle of determining the destiny of the Korean nation on their own accord and agreed to bring forth the watershed moment for the improvement of inter-Korean relations by fully implementing all existing agreements and declarations adopted between the two sides thus far.
2) South and North Korea agreed to hold dialogue and negotiations in various fields including at high level, and to take active measures for the implementation of the agreements reached at the Summit.
3) South and North Korea agreed to establish a joint liaison office with resident representatives of both sides in the Gaeseong region in order to facilitate close consultation between the authorities as well as smooth exchanges and cooperation between the peoples.
4) South and North Korea agreed to encourage more active cooperation, exchanges, visits and contacts at all levels in order to rejuvenate the sense of national reconciliation and unity. Between South and North, the two sides will encourage the atmosphere of amity and cooperation by actively staging various joint events on the dates that hold special meaning for both South and North Korea, such as June 15, in which participants from all levels, including central and local governments, parliaments, political parties, and civil organizations, will be involved. On the international front, the two sides agreed to demonstrate their collective wisdom, talents, and solidarity by jointly participating in international sports events such as the 2018 Asian Games.
5) South and North Korea agreed to endeavour to swiftly resolve the humanitarian issues that resulted from the division of the nation, and to convene the Inter-Korean Red Cross Meeting to discuss and solve various issues including the reunion of separated families. In this vein, South and North Korea agreed to proceed with reunion programs for the separated families on the occasion of the National Liberation Day of August 15 this year.
6) South and North Korea agreed to actively implement the projects previously agreed in the 2007 October 4 Declaration, in order to promote balanced economic growth and co-prosperity of the nation. As a first step, the two sides agreed to adopt practical steps towards the connection and modernization of the railways and roads on the eastern transportation corridor as well as between Seoul and Sinuiju for their utilization.
2. South and North Korea will make joint efforts to alleviate the acute military tension and practically eliminate the danger of war on the Korean Peninsula.
1) South and North Korea agreed to completely cease all hostile acts against each other in every domain, including land, air and sea, that are the source of military tension and conflict. In this vein, the two sides agreed to transform the demilitarized zone into a peace zone in a genuine sense by ceasing as of May 2 this year all hostile acts and eliminating their means, including broadcasting through loudspeakers and distribution of leaflets, in the areas along the Military Demarcation Line.
2) South and North Korea agreed to devise a practical scheme to turn the areas around the Northern Limit Line in the West Sea into a maritime peace zone in order to prevent accidental military clashes and guarantee safe fishing activities.
3) South and North Korea agreed to take various military measures to ensure active mutual cooperation, exchanges, visits and contacts. The two sides agreed to hold frequent meetings between military authorities, including the defence Ministers Meeting, in order to immediately discuss and solve military issues that arise between them. In this regard, the two sides agreed to first convene military talks at the rank of general in May.
3. South and North Korea will actively cooperate to establish a permanent and solid peace regime on the Korean Peninsula. Bringing an end to the current unnatural state of armistice and establishing a robust peace regime on the Korean Peninsula is a historical mission that must not be delayed any further.
1) South and North Korea reaffirmed the Non-Aggression Agreement that precludes the use of force in any form against each other, and agreed to strictly adhere to this Agreement.
2) South and North Korea agreed to carry out disarmament in a phased manner, as military tension is alleviated and substantial progress is made in military confidence-building.
3) During this year that marks the 65th anniversary of the Armistice, South and North Korea agreed to actively pursue trilateral meetings involving the two Koreas and the United States, or quadrilateral meetings involving the two Koreas, the United States and China with a view to declaring an end to the war and establishing a permanent and solid peace regime.
4) South and North Korea confirmed the common goal of realizing, through complete denuclearisation, a nuclear-free Korean Peninsula. South and North Korea shared the view that the measures being initiated by North Korea are very meaningful and crucial for the denuclearisation of the Korean peninsula and agreed to carry out their respective roles and responsibilities in this regard. South and North Korea agreed to actively seek the support and cooperation of the international community for the denuclearisation of the Korean Peninsula.
@JohnJHarwood
ex-US Ambassador to North Korea Chris Hill on summit outcome:
“Forgettable. joint statement weaker than any previous one since 1992. There is no way forward, no roadmap, no diplomatic strategy.”
New Jersey home to the happiest seaside town in the USA? Who the F*CK are they kidding?
It’s the negative ions!
The action of the pounding surf creates negative air ions and we also see it immediately after spring thunderstorms when people report lightened moods,” says ion researcher Michael Terman, PhD, of Columbia University in New York.
In fact, Columbia University studies of people with winter and chronic depression show that negative ion generators relieve depression as much as antidepressants.
Now we give credit for ideas?
The powder puffs are unhinged! LOL!
Exactly what I like about Trump. He does not listen to anybody but his gut. Everybody said exactly what you said and he still deed it. He cancelled the meeting to show strength and NKorea blinked. He told NKorea how much fire power we have while previous administration offered Economic aide
“The idea of meeting with this homicidal dictator was the worst idea ever. Until someone from their team did it.
So yes, very partisan.
Suspect higher UV exposure as well. Strong links between uv exposure and mood.
Suspect Iran is feeling a bit jealous this morning.
Now we give credit for ideas?
It’s how the progressives define success.
Suspect Trudeau and Macron are having a bitch session in French this morning.
Suspect his creepy mom is still tagging along.
Why are we making this meeting about US and NKorea? This is not about us. —> South and North Korea agreed to actively pursue trilateral meetings involving the two Koreas and the United States, or quadrilateral meetings involving the two Koreas, the United States and China with a view to declaring an end to the war and establishing a permanent and solid peace regime.
3) During this year that marks the 65th anniversary of the Armistice, South and North Korea agreed to actively pursue trilateral meetings involving the two Koreas and the United States, or quadrilateral meetings involving the two Koreas, the United States and China with a view to declaring an end to the war and establishing a permanent and solid peace regime.
4) South and North Korea confirmed the common goal of realizing, through complete denuclearisation, a nuclear-free Korean Peninsula. South and North Korea shared the view that the measures being initiated by North Korea are very meaningful and crucial for the denuclearisation of the Korean peninsula and agreed to carry out their respective roles and responsibilities in this regard. South and North Korea agreed to actively seek the support and cooperation of the international community for the denuclearisation of the Korean Peninsula.
A joint Korea represents a major threat to Chinese manufacturing.
Koreans would gladly shift manufacturing out of China and into low cost North Korea.
Samsung, LG, Hyundai, Kia, SK Semiconductors, etc etc.
Dawn of a new era on the Korean peninsula. A joint Korea could be a stronger economy than Japan. They have the demographic advantage, and none of the baggage.
John Harwood: Trump “Did Not Look Well,” “I’m Concerned About President’s State Of Mind”
HOW THE TIDE HAS TURNED!!!
@SenSanders
I find it very strange that President Trump has such a hard time getting along with the leaders of the world’s major democracies, but feels very comfortable with despots and authoritarian leaders.
It’s all bread and circuses.
The Janitor Says…
Today might be the last day of TSLA as a darling.
@jimsciutto
Bottom-line:
Trump made specific commitments to end military exercises with #SouthKorea & eventually withdraw US forces from peninsula.
#NorthKorea made NO specific commitments on timing or verification of denuclearization, also did not give accounting of its nuclear arsenal.
Remember in 2008 when Obama wanted to talk to the leaders of North Korea and Iran and conservatives lost their minds?
Dennis Rodman says otherwise.
Consumer inflation rising at fastest pace in 6 years, CPI shows
Bagholder
joyce says:
June 11, 2018 at 12:40 pm
Are you using that quote to agree or disagree?
Bagholder says:
June 11, 2018 at 11:57 am
‘That’s not what was said…the idea that Trump said neo-nazi’s are fine people is a hoax.’
“REPORTER: The neo-Nazis started this thing. They showed up in Charlottesville.
TRUMP: Excuse me, they didn’t put themselves down as neo-Nazis, and you had some very bad people in that group. But you also had people that were very fine people on both sides.”
What exactly did Obama get the Nobel Peace Prize for?
https://bit.ly/2LLMtIP
Not to mention the talks between NK and US are a big slap in the face of Russian Communists. To some extent, China as well.
Trump did not ask for this meeting
“Remember in 2008 when Obama wanted to talk to the leaders of North Korea and Iran and conservatives lost their minds?”
Come on baby, need this roaring 20’s 2.0 to play out! I was starting to get nervous it might not happen.
yome says:
June 12, 2018 at 9:02 am
Consumer inflation rising at fastest pace in 6 years, CPI shows
‘Dennis Rodman says otherwise.’
Such a value-add to the spectacle. I expect to find out he received $75 and a fistful of pills to wear the pot crypto shirt.
Those guys paid for everything, probably way more than $75.
‘Those guys paid for everything, probably way more than $75.’
AND the fistful of pills…
If you’re already used to living in NJ suicide is just a lateral move.
There is something to Blue Mind and New Jersey. This state has by far the lowest suicide rate of any state, meaning people here tend to be happy, not sad. New York and other oceanfront states are next. Highest suicide rates are concentrated in landlocked states. Why is this?
Except that NJ’s suicide rate is lower than Mass. Not surprising, Boston is f*kcing miserable.
1st class on Singapore Air? $20k + Hotels and expenses. Roadman got himself a nice vacation for wearing a tshirt.
Does not look like it worked for potcoin…
https://coinmarketcap.com/currencies/potcoin/
They just think they’re miserable because most of them have never lived in NJ. Why do you think I’m such a happy guy? (besides having spent less than $30K in property taxes over the last 16 years combined ;-)
Except that NJ’s suicide rate is lower than Mass. Not surprising, Boston is f*kcing miserable.
I wonder if Pumps knows he spends $50 per day, 7 days a week, in property taxes?
Looks like getting into house buying hasn’t hurt “Z” after all…almost $65 now and rising.
Keep telling yourself that you were happier living in a college dorm as opposed to a colonial in Wayne. Glad you saved money on taxes.
The Original NJ ExPat says:
June 12, 2018 at 10:44 am
They just think they’re miserable because most of them have never lived in NJ. Why do you think I’m such a happy guy? (besides having spent less than $30K in property taxes over the last 16 years combined ;-)
Makes perfect sense. Why would you kill yourself if you truly believe you are better than everyone else?
In fact, the 10 states with the lowest suicide rates are all traditionally democratic
He’s got an interstate running’ through his front yard
You know, he thinks, he’s got it so good
Keep telling yourself that you were happier living in a college dorm as opposed to a colonial in Wayne. Glad you saved money on taxes.
Keep telling yourself that you were happier living in a college dorm as opposed to a colonial in Wayne. Glad you saved money on taxes.
The happiest I was is when I lived in the ghetto of New Brunswick making $18k as a grad student.
Was interested in a new house in Rutherford listed for 750K+.. I was told the taxes are around 23K.. WTF
Pump, where do you live in NJ where you pay less than 10K tax??.
I bet for $50 a day I could find a nice place on a highway too. It would even have a minority chick that comes in and makes the bed each day.
My 4 bdr/4 bath, 2,000 sq ft (2 additions to basic ranch) on quarter acre is $9,605 in CG.
My share of my New Brunswick apartment was $80 per month. I had a full time Summer job and a brand new company car (OK a 1980 Chevy Van for use during work, but it had A/C). Back then you could fill out this student tax form and they took zero fed and state tax out, because you were going to get it all back when you filed anyway. I made $4 per hour, $160 per week and my take home was North of $150. I paid my rent with half of one week’s pay and had no debts and a convertible sports car. There was no better feeling than putting the top down on my car Fridays at 5PM with that paycheck in my pocket. Good times, good times.
The happiest I was is when I lived in the ghetto of New Brunswick making $18k as a grad student.
This could’ve been me. Exact make, model, color, year.
https://www.imcdb.org/v065467.html
Cheap living is very possible. Couple up with the right person of course. It is usually one or the other that throughs any budget under the bus. Shopping addiction (slow suicide) is a sign of a faltering ego. As is the practice of hoarding. Fascinating to see how dysfunctional our Country has become. Opiates, legal pot as the balm of choice, Killing yourself…? Maybe it is a lot like death itself. It’s not the worst thing, It’s the last thing.
Pumps pays $18K and lives on a faster double yellow road than anybody who ever posted here. Now you get why he’s so delusional/deranged? Bad choices/bad mind.
Pump, where do you live in NJ where you pay less than 10K tax??.
Those Fiats were crap. Pretty much an organ donor car. At least now they are reliable thanks to the miata alliance. But you’ll still die fast in any kind of serious wreck. Just sayin. Pack light too.
The guy who sold it to me told me the truth, he and his brother had just rebuilt and engine from a ’71 and put it in. He said exactly this to me: “This car is in perfect running shape today. I don’t guarantee it’ll be that way tomorrow, it’s just the nature of the car. If you are going to own this car you better know how to work on cars or have a lot of money.”
I can’t believe I drove it to Miami and back one Winter break and had no problems. It was great when it ran though. Double overhead cam engine, 4 wheel disc brakes, 5 speed transmission. That was way, way ahead of it’s time for 1970. It had a great, fully gauged walnut dash and console too.
Those Fiats were crap. Pretty much an organ donor car. At least now they are reliable thanks to the miata alliance. But you’ll still die fast in any kind of serious wreck. Just sayin. Pack light too.
Never understood why Boston night life is basically done by 10:00 P.M.
10:27 chose Jersey over Boston 20 years ago. Cannot discount the horrible weather in Boston.
PotCoin can be traded through PotWallet. I think I’ll IPO PotVault.
11:27 – I owned it’s competitor at the time…the 914.
Boston Nightlife is watching a Red Sox game at a bar. It pretty much ends there.
NOT SO GOLDEN –46% of the San Francisco Bay Area residents surveyed plan to move from California within the “next few years” primarily due to the cost of housing and traffic (source: Bay Area Council poll).
Speaking of packing light, there was a time when I could fit everything I owned inside my Fiat except for my bicycle. The trunk wasn’t too small for a car that size, but the real trick to loading it up was having four of those ubiquitous plastic mil crates that you stole from the dining hall. Four of them stacked two high fit perfectly in the back seat, even with the top up.
milk crates
California is a mess the middle class has been hollowed out and SF is just one Tech Crash away from oblivion. Me? I could not care less. The weather is perfect. That’s pretty much the attitude here. Lot’s of haves. Even more have nots.
Is it me, or does the stock market seem likes it ready to continue its slow melt up into the foreseeable future? Volatility is back down to nothing and the charts are definitely trending slowly upwards again.
And of course, those same four milk crates turned sideways made great shelves in you dorm closet…but everyone except Pumps already knows that.
That being said, “suffering” seems to built in to the Northeastern ethos. Not so much out here…
I have a sweet milk cream crate in the M3 keeps a few things from flying around. That thing will pull g’s in corners. Best handling car i’ve Owned. Comfortable too.
I concur, Volatility is in the perfect melt-up range. What I watch for is the ratio of VIX/VXV. .80-.90 is perfect for a bullish trend and we are right at .842 right now. The reason I like the ratio is that it also flashes danger when it is too low. Anything below .80 or above .90 I consider bearish. Anything above 1.0 I consider crashish;-) When it is too low for too long – that is when times are right for a sudden shock and VIX spike. When it’s in the bullish range it may rise, but it’ll rise slowly for a while before it takes off.
Is it me, or does the stock market seem likes it ready to continue its slow melt up into the foreseeable future? Volatility is back down to nothing and the charts are definitely trending slowly upwards again.
Milk crates were definitely the standard in the 70s and 80s. I used to pack all my sh1t in them during the college years. Each move to a new dorm involved me cutting the cable ties I used to hold them together when stacked sideways as the wall unit of my room. Then just stack them upright, into the hatchback and on to the next room where I would tie them together again with a new set of cable ties. Each move cost me a bag of cable ties. I would always pick them up for $1 a bag when I would buy my Maxell XLII metal cassette blanks down in Chinatown. Man, I miss those days.
https://bit.ly/2MinjCt
Am I happy? Yes! Keep drinking the haterade.
God forbid someone be happy with a home purchase, haters have to hate.
The Original NJ ExPat says:
June 12, 2018 at 11:17 am
Pumps pays $18K and lives on a faster double yellow road than anybody who ever posted here. Now you get why he’s so delusional/deranged? Bad choices/bad mind.
Pump how much prop tax you pay in there??
Wow. The slope from January 2016 to now is staggeringly consistent. Like, perfectly straight line. And that shortlived blow-off top provides little upside resistance. I’m not a T/A guy much, but I would bet the market finishes this year at Dow 26.25. A 6% up year never killed anyone. Especially after the last two years.
I love my house. I can’t stand the Brooklynization of Essex County. Vegas/Costa Rica can’t come soon enough.
I’m thinking about booking a week long exploratory trip at the end of the Summer. May even tow the kids along.
All talk, no walk. Just like tri-state area over the past 30 years.
Here is what is laughable. They are in tech. There is no esacaping the high cost of living if they remain in that industry. Their salaries are responsible for the high cost of housing. So pick up and leave to a cheap location, your company will just drive up the costs to the same damn level in another location. People just don’t get economics. It’s laughable.
Cheap location means you don’t have good paying jobs or wealthy people living in that location.
chicagofinance says:
June 12, 2018 at 11:30 am
NOT SO GOLDEN –46% of the San Francisco Bay Area residents surveyed plan to move from California within the “next few years” primarily due to the cost of housing and traffic (source: Bay Area Council poll).
I think the avg property tax bill in nj is in the 8,000 range.
I have one cousin in Morris paying less than 5,000 and another in Brick paying less than 5,000. It all depends what you want in terms of house, location, and school system.
NJDepartment says:
June 12, 2018 at 11:00 am
Was interested in a new house in Rutherford listed for 750K+.. I was told the taxes are around 23K.. WTF
Pump, where do you live in NJ where you pay less than 10K tax??.
I’m at 18,000. It is what it is. At the end of the day, I’m happy. Still able to save and invest, don’t really worry about money, so why obsess over the tax cost. Is an extra 8,000 I’m paying killing me compared to property taxes in other states….not at all. Still living a great life by any standard. Extra 8,000 does not even phase me.
? OK – it is a business strategy, but once the profit generation’s core mission has been established, is there a question? Not only is it left, it has amped up the acrimony in search of people’s attention…….. Comcast owns The Weather Channel too…. it is equally biased and unwatchable….. not as a left leaning outlet, but as a provocative and attention seeking distortion field of factual information….
Snowstorm coming….. 2-4 inches…. TWC “4-8 and we are going to update dangerous Winter Storm Plumpty”
Ottoman says:
June 12, 2018 at 7:44 am
BTW, MSNBC is owned by Comcast. Let’s not play stupid and think for a minute, they’re “the left”.
Why would Bremmer say something so stupid……. hmmmm … $$$$$$$
Very Stable Genius says:
June 12, 2018 at 8:16 am
@CBSThisMorning
“Both Trump and Kim are leaders that clearly really want some legitimization.
They want to be treated well… the most important takeaway long term is that the United States is probably going to be a much more marginal player at the end of the day in this region.”
–@ianbremmer
My 4 bdr/2.5 bath, 2,000 sq ft colonial on .75 acre is $9,300 in morris county, and no yellow lines in the street
$22,000 a yr for top notch public education is a bargain
Pump, with Toysrus leaving and no tax deduction this year, you are looking at a minimum additional 8K out of pocket this year for owning a house…. Compared to someone who is renting like me..
It’s like you just increased your mortgage payment for another 180K for life..
What makes you so bullish on NJ real estate with these factors playing out ??..
https://www.youtube.com/watch?v=OZpgnYhzdkI
God forbid someone be happy with a home purchase, haters have to hate.
@kurteichenwald
There are people (perhaps bots) who are beyond reason. They view everything as “supporting my team” so that whatever Trump does is great, while if Obama did it their heads would explode.
Anyone who defends what Trump did in NK is a propagandist, deluded or stupid. Ignore them.
You are looking at it all wrong. Renters pay taxes on top of profit. If I wanted to rent a house like mine, it would prob be 4,000 a month at the minimum.
If you purchase your current rental, I promise you will come out ahead unless you have a tool of a landlord charging much below market rate.
NJDepartment says:
June 12, 2018 at 12:32 pm
Pump, with Toysrus leaving and no tax deduction this year, you are looking at a minimum additional 8K out of pocket this year for owning a house…. Compared to someone who is renting like me..
It’s like you just increased your mortgage payment for another 180K for life..
What makes you so bullish on NJ real estate with these factors playing out ??..
Ugh….I don’t understand the “math” that NJD uses.
First, Pumpkin has probably never gotten is property tax deducted in the past due to AMT:
“Line 3: Taxes: In calculating the AMT, you cannot take itemized deductions for state and local income tax, real estate taxes and personal property taxes, even though these are deductible on your regular return.”
https://turbotax.intuit.com/tax-tips/irs-tax-return/alternative-minimum-tax-common-questions/L50YotKHP
Second, how do you get an increase of $8k on property tax of $18k? That is 44% “deduction” ??
Third, there is still tax due on the Toys R Us property, it will take at least some time to have it revalued downwards.
Landlords can deduct property tax as business expense.. You cannot.. so rents wont increase..
So do you agree that due to owning a house your expense went up this year compared to last.. And mine didn’t..
Just in pure financial terms.. This is directly related to house prices..
Lib – In the mid 90’s I bought cable ties at Costco in Clifton, 1000 pieces ranging from 4″ to 14″, I think $10, in a big plastic tube about 12″ high with a screw top lid. I then bought a 650 piece tube of 8″ and smaller ties, all different colors, I forget how much I paid but probably less, in a smaller screw top tube. I still have both tubes and haven’t come close to running out yet, 20 years later. Actually, it looks like I’m out of the 14″ size, but I have tons of 11″ ones left. I can tell I’m out of the 14″ ones because those were the only ones that didn’t store straight in the 12″ tube. What a great buy.
About 20 years ago at work I had a telco guy in doing something in one of our comm closets and he left this small pair of super high quality snips on top of phone switch, or somewhere. They are absolutely the best tool I’ve ever used for cutting off cable ties. You can cut them easily and exactly flush with not a sharp edge ever protruding. It looks like this, not sure if this is a knock-off of a good one or not, but what a pleasure that tool is to use on cable ties compared to any of my other cutters:
https://www.amazon.com/dp/B01N2JVKE2/ref=sspa_dk_detail_2?psc=1&pd_rd_i=B01N2JVKE2&pd_rd_wg=B6AJM&pd_rd_r=1JMPF0ZVJPEQ511759W0&pd_rd_w=3gigD
Anyone who defends what Trump did in NK is a propagandist, deluded or stupid. Ignore them.
Can you picture this person saying it in a high-pitched, foppish and effeminate voice? LOL!
https://re-nj.com/jll-mini-burger-chain-among-three-retail-leases-in-downtown-new-brunswick/
New Brunswick continues to improve. Government there knows how issue building permits. Three new restaurants opening 37 Easton. This small retail property sold for $5,850,000 last year. Buyer won’t touch anything not close to a train station.
Your place would have to be rented to 10 guys as a frat house. Nobody with kids wants to live on that highway.
You are looking at it all wrong. Renters pay taxes on top of profit. If I wanted to rent a house like mine, it would prob be 4,000 a month at the minimum.
I’m a landlord, you are crazy if you think I’m not passing on the cost of property taxes to the tenants.
Consider yourself fortunate that your landlord subsidizes the cost for you.
NJDepartment says:
June 12, 2018 at 12:50 pm
Landlords can deduct property tax as business expense.. You cannot.. so rents wont increase..
So do you agree that due to owning a house your expense went up this year compared to last.. And mine didn’t..
Just in pure financial terms.. This is directly related to house prices..
Don,
What model designation is your M3. I once owned the best: an E30 M3.
Early nineties, my kids: Dad, this car is too small. Please get a bigger one.
This decade: Dad, why did you ever sell that M3?
BTW, the BMW with the best road feel of them all was the 320i. Non-assisted rack and pinion. You could run over a dime and tell if it was heads or tails. It lasted me 347k miles
Chi 11:30 am,
What matters is actions people take, not words said to a pollster.
Scroll down to maps at bottom. More LinkedIn members moving to Bay Area than out. These are productive people and Bay Area gaining workers at highest rate from New York, Boston, and DC, not LA or Asia.
https://www.linkedin.com/jobs/blog/linkedin-workforce-report-april-2018-san-francisco-ca
35 mph highway? Define highway, clearly you don’t know what it means.
Btw, my wife and I are highly picky. Why did we purchase if it is not desirable. Better yet, why am I still happy almost 7 years after the purchase with no regrets? You just don’t get it.
The Original NJ ExPat says:
June 12, 2018 at 1:01 pm
Your place would have to be rented to 10 guys as a frat house. Nobody with kids wants to live on that highway.
Q to the board….. anyone work in fixed income? Why all of the debt tenders from low IG issuers? Never experienced it before…….. using repatriated cash? term outs? It is just that everything is simultaneous, so it is throwing me off….
I understand and agree…..it is more likely that the transient young worker has no intention of making a life in Bay Area. No different than NYC. You always have to be dubious of any survey……but one survey is interesting….several surveys with similar conclusions are a trend….
Yo! says:
June 12, 2018 at 1:15 pm
Chi 11:30 am,
What matters is actions people take, not words said to a pollster.
Scroll down to maps at bottom. More LinkedIn members moving to Bay Area than out. These are productive people and Bay Area gaining workers at highest rate from New York, Boston, and DC, not LA or Asia.
That’s because with the four banger you were on the dime for a much longer time;-)
Seriously, I miss cars with manual rack and pinion, especially those with not small front engines where using one hand on the steering wheel was never an option. My Dad had a ’73 V6 Capri and a woman would need arms like Michelle Obama to ever parallel park that car, but then again women can’t parallel park;-)
BTW, the BMW with the best road feel of them all was the 320i. Non-assisted rack and pinion. You could run over a dime and tell if it was heads or tails. It lasted me 347k miles
And if your car was light and FWD with manual rack and pinion, it still felt like power as a tiny bit of gas was all the power you needed. MR2’s and 914’s, 911’s, and especially 912’s were pretty easy too because there was such little weight over the rack.
Now if you really want a steering workout, try turning off the engine of a ’74 Caprice or Buick with a v8 to save gas down a long, windy, mountain road. Power steering with no power is about twice as hard as manual rack an pinion in the heaviest car. Brakes with no vacuum boost from running V8 also requires some muscle. It was still a fun challenge though.
Our ’72 Vega had manual (recirculating ball) steering and no power brakes. You could turn that car off down a long hill of any complexity and it drove exactly the same except the gas pedal was only slightly less responsive than when the engine was on;-)
The investment markets say nothing happened……. good enough for me
To quote Yo!
Yo! says:
June 12, 2018 at 1:15 pm
What matters is actions people take, not words said to a pollster.
Very Stable Genius says:
June 12, 2018 at 12:35 pm
@kurteichenwald
Anyone who defends what Trump did in NK is a propagandist, deluded or stupid. Ignore them
Maybe frat living is you and your wife’s thing. She can remember how great college was and you can pretend like you’re attending.
Btw, my wife and I are highly picky. Why did we purchase if it is not desirable. Better yet, why am I still happy almost 7 years after the purchase with no regrets? You just don’t get it.
Chgo I don’t know about the NYC thing. I see kids walking to school everyday with parents/ caregivers etc or by themselves from grammar school up to high school age. Seems to me those families are not going anywhere and I assume many of the parents have been living in the city since they were young however one defines young today.
The bulk of us here are not part of the transient crowd that grew up ANYWHERE and moved to NYC, Boston, DC, Chicago, SF for a job. Have no ties to the area and “put in their time” so they can’t follow their true passion in the 40’s making artisanal doughnuts and practicing yogalaties.
1:12 completely agree. Test drove a 94 once – trouble is the mechanic was along for the ride. Frightened the wife and it was a no-go. Something about it handling poorly in snow. Current climate means no such concern. Mine’s an o2 e46 vert. The dark blue/black color with grey leather. The seats along are worth the price of admission.
10.5” wheels rear – 9” Front
Here in Boston it’s the same. My daughters haven’t had too many friends move away. If they do it’s to London for a year because of one of their parent’s jobs. Sure, there was a flurry of Pumpkin types that moved away before kindergarten, but that was it. Even if their kids don’t get into an exam school for HS, the parents just send them to one of the excellent private or charter schools around here. I think it’s because older parents are better equipped and rooted to stay. The other thing, is if you go out to the Pumpkin suburbs you may be one of the “old parents” surrounded by younger parents who have bachelors degrees or less, so you’d pull your hair out because none of your kids classmates parents are smarter than a rock.
Chgo I don’t know about the NYC thing. I see kids walking to school everyday with parents/ caregivers etc or by themselves from grammar school up to high school age. Seems to me those families are not going anywhere and I assume many of the parents have been living in the city since they were young however one defines young today.
The Great Pumpkin says:
June 12, 2018 at 1:10 pm
I’m a landlord, you are crazy if you think I’m not passing on the cost of property taxes to the tenants.
Consider yourself fortunate that your landlord subsidizes the cost for you.
https://youtu.be/9lzQoP1Q2Yw?t=6m38s
“old parents”
Yup!
Also, my old reliable Civic was manual steering and what was called, “power assist” breaks. On the long hills on the thruway, I would always turn the power off and fly. I know what you mean about forearm strength. Even PP the Civic was a major pain in the ass. Try to do it with an ice cream cone in one hand.
If you have a really torquey RWD car you need to drive in the snow, there are ways around. Best bet is to get Winter Tires and wheels. OTOH, I used to drive my ’77 V8 Camaro OK in the snow, even with 245 width BFG radials all around. First thing is keep your tire pressure low, 24 PSI will work. My car had a worked engine with lots of torque, so the best way to go was, 1. Start the car in 2nd gear, 2. As soon as you get any forward movement, shift immediately to 4th. Even in the dry I could take that car down to 10 or 15 miles per hour in 4th gear and it would pull away just fine, no lugging.
I remember my Dad telling me had some old car that had a stick shift AND a torque converter. You drove it like a regular stick shift, but you didn’t have to put the clutch in a stop. He said if you got stuck in the snow in that car you could put it in gear and get out and push it…you just needed to make sure you could catch up to it when it started moving.
Another thing about urban parents, a lot of them grew up in the city themselves, they are typically the “slightly younger than us” parents. We have friends who are 10 years younger than us and a lot of them grew up in Boston and graduated Boston Latin or some other local HS themselves. Quite a few of them have parents who live in and own multi-family homes, so that’s where our friends who are the 40-something parents of HS kids live (as opposed to the 50-something parents that are like us). There’s a common home architecture in Boston know as a “three decker” (some incorrectly call it a triple decker). It’s a three floor, three family house with a flat roof, so all three apartments have the exact same floorplan. It’s typical for the senior citizen owners to live on one floor and relatives in one or both of the remaining apartments. Of course there are lots of multi-generational Asian families doing the same thing, except they probably live 3 generations in one apartment and rent out the other two;-)
https://en.wikipedia.org/wiki/Three-decker_(house)
Tesla CEO Elon Musk told employees on Tuesday the company will cut about 9 percent of its workforce, but he also said the car maker will need to be profitable to reach its goals.
“Given that Tesla has never made an annual profit in the almost 15 years since we have existed, profit is obviously not what motivates us,” Musk wrote in the company email. “What drives us is our mission to accelerate the world’s transition to sustainable, clean energy, but we will never achieve that mission unless we eventually demonstrate that we can be sustainably profitable. That is a valid and fair criticism of Tesla’s history to date.”
The company has suffered large losses each of the last three years. Tesla lost nearly $2 billion in 2017, lost $675 million in 2016 and lost $889 million in 2015.
But after many years of negative financial results, Musk in April predicted the company will be profitable in the second half of this year.
Absolutely agree. Market determines rent. In a bad part of the cycle, a landlord will have to eat the expense, but how often is this? For the majority of the time, landlords are profiting off their tenants or the business would not be as big as it is.
Stress this again, the only time renting makes sense is at peak pricing or in the downward part of the cycle. Otherwise, every other part of the cycle it’s better to own. When the cycle is rising, if you are still renting, you are constantly paying higher rents and at the same time missing out on appreciation in a rising market.
Are there exceptions like “rent control” or a landlord that doesn’t raise rent, of course. But we aren’t talking about exceptions to the rule.
chicagofinance says:
June 12, 2018 at 2:20 pm
The Great Pumpkin says:
June 12, 2018 at 1:10 pm
I’m a landlord, you are crazy if you think I’m not passing on the cost of property taxes to the tenants.
Consider yourself fortunate that your landlord subsidizes the cost for you.
https://youtu.be/9lzQoP1Q2Yw?t=6m38s
And chi, I highly respect you and your skills in financials. I am in no way saying that you made or are making the wrong move by renting. I’m speaking in avgs, and you are not avg due to financial knowledge and skills.
Individual like you are always better off renting because of your ability to make so much money off the equity market. For the avg Joe Schmoe that will lose money in the equity market, or almost any investment they touch, buying a home is the best investment they can make for their longterm future self. It’s forced savings for them with long term savings once home is payed off with the lottery chance at serious appreciation if they get lucky.
Chgo True. But it’s just amazing to see the amount of families that are living in down town Wall Street Manhattan! I have been down here since I was a kid and the change to heavy residential is amazing to me. And I will leave it at that. Last time I got on this topic I caused a firestorm!!
Spray pancake in a can and a big mortgage and tax bill is always the best bet for Joe Schmoe. The only thing better is a highway out front so he can get to work fast to pay for it.
In 13 years, this Joe Schmoe will have 1.2 million in real estate equity (thats with zero appreciation from today’s pricing). Did I also mention it generates sweet passive income?
The Original NJ ExPat says:
June 12, 2018 at 3:57 pm
Spray pancake in a can and a big mortgage and tax bill is always the best bet for Joe Schmoe. The only thing better is a highway out front so he can get to work fast to pay for it.
Just wait until you install the high-speed EZ-Pass lanes!!!
I can take that passive income from real estate and dump it straight into the equity market. Money makes money. Lots of sacrifice to get to the position, but once you get the ball rollin, it rolls!
As that video says,
Purchase cost is always more than purchase price.
Sale proceeds are always less than sale price.
How much you spent on taxes, insurance, utilities, maintenance and other upkeep in between purchase and sale should be considered as well.
I know of a nice house in Bergen County that is on sale right now for about an even $1 million, it started out price at $1,175,000. Taxes are about $34,000.
The owners bought it in 1992 for $565,000 when the taxes were only about $13,000.
I’ll just do some quick math and figure the average taxes were $23,500 over the entire 26 period of ownership, so $611,00 of property taxes paid.
$1,000,000 advertised price (we know proceeds will be less)
$565,000 purchase price (we know purchase cost was more)
$611,000 property taxes paid during ownership
That’s some hell of a forced savings program.
Expat,
Property taxes are shared across the board. They are the cost of society! No one can escape this cost.
Do you realize the renter is paying the landlord a profit. After all the costs, the landlord is still profiting. So who is paying more in the long run? Renter is paying those costs plus profit. Just understand that.
No one would purchase investment properties if they weren’t profitable. No one would be lining up to purchase these investment properties if they were just subsidizing their tenants with below cost rent.
I have to believe there are people who make foolish property for both residence and investment. You might be both.
No one would purchase investment properties if they weren’t profitable. No one would be lining up to purchase these investment properties if they were just subsidizing their tenants with below cost rent.
foolish property choices.
Can I get a lollipop for my kid?
At&t approved to buy Time Warner
https://www.reuters.com/article/us-vanburen-northkorea-commentary/commentary-whatever-happens-next-the-trump-kim-summit-is-a-win-idUSKBN1J82A4
Serious question Eddie/Gary – have you ever taken an American History class?
Headline: Trump warns Trudeau that criticizing him was a mistake that will cost Canada ‘a lot of money’ as he doubles down on trade war – while praising tyrant Kim Jong-Un as ‘talented and loved’ .
Yeah….we’re unhinged.
During the entire real estate bubble, people were purhasing homes that didn’t even come close to covering themselves in terms of rent. Plenty of people do stupid shit.
Big banks have dire predictions for workers who spend all day ‘keyboard hitting’ – MarketWatch
https://apple.news/AIoC_6d-MSZmzY2wIIf-_XQ
Who cares. He’s sweet talking North Korea out of nukes and forcing Canada to accept our terms. It’s going to be a win On both fronts
Lots of people outraged on FB about trump and north Korea except they don’t know what they are outraged about.
pumpkin, that’s rich….these big banks can’t make simple databases work and have never been able to successfully move off the mainframe let alone the automation of their processes. Yet somehow they will implement AI and robots to replace their employees. That’s a joke the technically most incompetent industry in america is going to automate, I can see it now automation experts are going to make a fortune consulting in the finance industry like the big data folks today.
LOL. I almost took a consulting job at JP Morgan or Morgan Stanley, I forget which. They wanted to hire me, a consultant, to create a database to track…wait for it…to track how many consultants they were employing!!
FB is for closet cases and bored housewives…killed my FB dead
I’ll bet your wife is still using it;-)
FB is for closet cases and bored housewives…killed my FB dead
It’s an S&M thing joyce.
“The surprising science that shows how being near, in, on, or under water can make you happier…”
Real estate jokes aside, what does under water mean here?
expat, morgan stanley is the exception in banking, they are really on the ball in terms of technology, GS is also pretty good the rest are somewhere between ok and incompetent. JPM seems to fall into the incompetant category, I have a bunch of friends over there, the stories are eye opening.
expat haven’t logged into Facebook in 3 years….whats the point and I told people years ago Facebook was evil and should not be trusted with our data.
the being said their technology is great(presto, thrift, react…). Facebook has some wonderful engineers.
9:28 I dunno she’s a busy exec soooo prolly not.
Pumpkin – Congratulations, this is the dumbest analogy I have heard in 2018.
“Lots of sacrifice to get to the position, but once you get the ball rollin, it rolls!”