From CNBC:
July home sales spike a record 24.7% as prices set a new high
Sales of existing homes soared 24.7% in July from June, according to the National Association of Realtors.
That’s the strongest monthly gain in the history of the survey, going back to 1968, and the highest sales pace since December 2006.
Sales were 8.7% higher from July 2019.
The numbers represent closed sales, meaning contracts signed in May and June.
The increase in sales came as supply fell, prices rose and mortgage rates stayed low.
The supply of existing homes plummeted 21.1% annually, with just 1.5 million homes for sale at the end of July. This represents a 3.1-month supply at the current sales pace, down from a 4.2-month supply a year earlier. It’s the lowest July supply in the history of the inventory survey, which has been tracking single-family supply data since 1982.
“The new listings are running a little higher than one year ago but all those new listings are being grabbed by the buyers and taken off the market,” said Lawrence Yun, chief economist for the Realtors.
That shortage drove the median price of a home sold in July up 8.5% annually to $304,100. This is a record high nominal price but also the highest price when adjusted for inflation. When adjusted, it is 3.4% higher than the bubble high set in 2006, when mortgage lending was loose and borrowers could buy a home with no down payment and little to no financial documentation.
Nummer Eins.
From the Star Ledger:
N.J. home prices are soaring through the pandemic. See how seven areas have fared.
The economic havoc being wreaked by the coronavirus pandemic has not been able to touch one thing: home values.
According to CaseLogic’s Case-Shiller Index, which tracks house prices across the country, home values in seven metropolitan areas in and around New Jersey have risen over the past year. That follows a nationwide trend that saw home values rise in 447 of 456 U.S. metro areas from May 1, 2019, to May 1, 2020.
That shortage drove the median price of a home sold in July up 8.5% annually to $304,100. This is a record high nominal price but also the highest price when adjusted for inflation. When adjusted, it is 3.4% higher than the bubble high set in 2006…
Wow! In my neck of the woods, any house that has a “for sale” sign seems to be gone in days. I see the estimate price of my house on Zillow and Trulia and I’m surprised at the price point. That’s without all the improvements I’ve done in the last five years. Geez, has it been five years already among the haughty people? It’s a great neighborhood… kids abound everywhere, people and neighbors are very friendly. It’s nice being far enough away from the riff raff.
8:17 smug per the usual. It’s like you are the only person that owns real estate that’s appreciated. Wanna trophy?
Even the houses in crappy locations are going. All very familiar, back in the bubble again!
In a February 1991 article for Life, Atwater wrote:
“My illness helped me to see that what was missing in society is what was missing in me: a little heart, a lot of brotherhood. The 1980s were about acquiring – acquiring wealth, power, prestige. I know. I acquired more wealth, power, and prestige than most. But you can acquire all you want and still feel empty. What power wouldn’t I trade for a little more time with my family? What price wouldn’t I pay for an evening with friends? It took a deadly illness to put me eye to eye with that truth, but it is a truth that the country, caught up in its ruthless ambitions and moral decay, can learn on my dime. I don’t know who will lead us through the ’90s, but they must be made to speak to this spiritual vacuum at the heart of American society, this tumor of the soul.”
I’m buying a house in Franklin twp and need recommendations
for inspectors, anybody ?
It is still NJ real estate blog, right ?
To a large extent, the bumper demand for housing is an indication that Americans are aiming to make up for lost time. Many economists believe that what we’re seeing now is essentially a postponed spring home-buying season.
“The housing market is on a sugar high brought on by government stimulus and a pandemic-fueled rush to low density housing,” said Daren Blomquist, vice president of market economics at Auction.com, a real-estate website for foreclosure “Prospective buyers will be better positioned for success as homeowners if they understand that this sugar high will not last and make sure their decision to buy is grounded in longer term factors that will affect their ability and willingness to commit to paying down a sizable amount of debt over the next 30 years,” Blomquist added.
More: https://www.marketwatch.com/story/the-housing-market-is-on-a-sugar-high-home-sales-are-soaring-but-is-it-a-good-time-to-buy-heres-what-the-experts-say-2020-08-21
smug per the usual.
I earn my keep therefore I’m entitled.
Colpo,
Shamrock inspections.
https://shamrockhi.com/
Father was a legend. Would document every nail. The son is now running the business.
“I’m entitled”.
Clearly
Colpo,
It’s easy to research and find recommendations and/or ratings. Just make sure they take lots of pictures, escort them as they perform the inspection and don’t be hesitant to ask a thousand questions.
Essex,
The difference is that your side demands entitlements and my side earns it.
FWIW she’s the Kim Wexler to my Jimmy McGill.
Which is why at this moment as g-d muuuuuuh witness…..
I will say under no uncertain terms ….
That I “wuff” u edddie “…..
U big Alpha…..wink
In fact I want to go even further and say under no uncertain terms that I love each and every creature on this big blue marble. For only love will win the day. Thank you. G- niiite. But like yoooooooou Eddie. I get it man. I really do. CA is the king of NIMBY.
My neighbors place just went for $900k – we gotta better lot. I totally diiiiiiiiig what you are saying bro. I can’t help thinking though that unless you are ready to sell “now” prepare perhaps to call this the top. 40 years in the desert baby. It’s coming.
9:37 I earned it baby….hit the classroom last Monday – air is down – 84 degrees. Back to back first classes in a Quonset hut in a heatwave. Nailed it. My classes are going to kick-ass – One week down. Pool pump decided to go so my first check – a little under half of it replaced that puppy boooooom. Wife’s happy. I’m happy. Ya know life ain’t bad when ur earn in’ Pool motor is sweeeet. Dead quiet.
40 years in the desert baby. It’s coming.
One thing we might agree on.
That an Gibby
Les Paul’s
Remember dude everytime you say “you guys” the liberal cause is vast and wide and I’m on different side, one that strums the six string, and howls at the moon, like an old hound dog runnin round in June. Gniiiiite
Pool pump costs like $250 – you work minimum wage or did you get fixed by the pool guy?
No sir got a 2 HP Pentair whisperflow. Gorgeous unit. Aluminum encased motor cooling fins like an I-talian motorcycle. They ain’t cheap. USA made btw.
Look passed slogans and words, actions tell a different story.
Fast Eddie says:
August 22, 2020 at 9:37 am
Essex,
The difference is that your side demands entitlements and my side earns it.
$250? Sure for a lousy noisy one you replace every other year.
Pentair whisperflow is good but what I have is the Pentair SuperFlo Variable Speed Pool Pump does all the hard work first thing in the morning then ramps down to 2200 RPM, it can go slower and quieter too.
Essex were you man enough to install it yourself or did the pool lady do it for ya?
Speaking of pools the salt system is really the way to go, this season so far zero chemicals to change the balance at all, it’s crystal clear all the time and no algae ever. There is a different product to change any of the major water components up or down, total alkalinity, pH, calcium hardness, stabilizer, dissolved solids etc and I used to screw it up all the time. I would have been to the pool store 10 times already this season to have them check my water sample to get different chemicals to balance it out. Those days are over….no worrying days in advance if the pool is ok to have people over for a swim.
Ex, there may be a rebate if you had it professionally installed -In order to qualify for the pump or IntelliConnect rebate, the pump and/or IntelliConnect must be purchased and professionally installed between April 1, 2020, and December 31, 2020. All rebates must be redeemed online or by mail within 30 days of purchase.
Juice Box – do you see significant savings on the VFD type pumps? I could see an impact in warmer climates where the pool is open 10 months a year, but up here does not seem worth it.
ExEssex,
I don’t trust Lee Atwater’s deathbed conversion. I would trust him, if he had made his 180 discovery in perfect health on his career apogee. If the reaper did not get him at that time, he would have continued building his little locust boomer demon resume like most of his generation.
I understand all that smoke of those Cali fires are affecting you. All that looovee. Understand that that smoke likely is 40% trees and 60 % legal and illegal grown ganja, so as the medical warning says after a procedure – “don’t drive or make any major decisions in the next 48hrs” – you should modify it instead of 48hrs – until you physically leave CA.
I’m dying’ thanks I needed that.
Yeah man!! I have a pool guy!!! And a lawn guy!
I know. I know.
re: “do you see significant savings”
Hard to judge we are home all the time now running the electricity bill through the roof. The saving is supposed to be around $600 for an entire year, so if I keep my pool open until November that would be 6 months of operation so maybe $250, have to run it at 230 volts too otherwise forget it.
The hardware is significantly better quality and will last longer, the motor can be swapped out realistically easily. The key in my opinion to not blowing out the bearings
by not running it at full speed all the time, the lower speeds produce less wear and tear and more importantly less heat.
It easy to pull the motor only and swap it no need to mess with bearings. I have done it twice on my old unit. I did a ton of work this year on my pool, Gas Heater, 70 ft buried has line, salt system, all new plumbing and two new pumps and I have a Polaris pressure vac-sweep system too.
I have gotten my moneys worth as I have not lost my mind completely over Covid-19 my backyard oasis I can thank for that.
Jackass,
Covid 19? Go look at the stats you ignorant jackass. Nyc peaked in 2017. That’s the beginning of the spillover from cities to suburbs as the biggest demographic group (millennials) went from renters, to thinking about starting families. They started to get married have kids, and finally started to move out of the city to north jersey in 2019. Those were the early millennials, the biggest bulge in the millennial demographic group is now turning 30. Expect this demand for north jersey housing to pick the further we go into this decade.
Apply this to any city in America. Millennials made them the place to be, and they are now leaving to go raise their families. This isn’t rocket science, but you don’t ever listen to me. I called this 7 years in advance, and you have the nerve to blame it on Covid 19 like a true simpleton.
It’s all on this blog to go back and see. I called this a long time ago. Called it on the years. I said when the labor market would pick up in 2017/18. I then said they would take their money and go to work buying houses in 2019/2020. Well, it’s happening, and what’s really amazing, they are doing this despite the virus’s negative impact on the economy and labor market. Imagine if this virus had never come, it would sure as hell be roaring 20’s 2.0. No doubt about it.
So instead of taking the position that I’m lucky and Covid made it happen, understand I was unlucky, and Covid knocked the crap out of my calls for roaring 20’s 2.0 starting in 2020. It will still happen, it just got pushed out further. Do not underestimate the impact on the economy from the biggest demographic group in our population going into house buying. It will unleash fierce economic activity that will trickle through all parts of the economy.
3b says:
August 21, 2020 at 4:15 pm
Pumps: You are a jackass and a liar. And I talk to people from all walks of corporate life. As for your calls, did you predict Covid 19?? What a freaking simpleton!
Like I said it terrifies you that WFH will negatively impact your highway house and your standard of living, as you are not the primary bread winner.
You can post all the anti WFH articles, just stop trolling me and referencing me in them. It’s not my mind or anyone else’s on the blog it’s to make you feel better. So again post all you want just leave me out of them. It’s a simple request that even a simpleton should be able to understand.
11:25 everything electric in our place is solar.
The pump is sweet. I’ve got a working farm behind me and as you might imagine the silt and dust from that is significant. But the sunsets are sensational. Nothing but miles of open field hills with plantings and mountains in the background. It looks like Tuscany.
When will divorced women realize Desperation is not a new Dior scent?
https://www.youtube.com/watch?v=WEjwhTcDdDg
“Even the houses in crappy locations are going….40 years in the desert baby. It’s coming….One thing we might agree on.”
Oh baby, new ATH inflation adjusted. Blog’s gonna rock like it’s 2008!
After Juice and SX determine who pumps better of course…..
I mentioned this previously some state governors are playing nothing but political games these days with people lives, the expanded $400 unemployment benefit that Trump authorized via Exec Order?
Giv Phil Murphy is vying for the biggest co*cksucker* award it seems.
“Murphy still unsure if N.J. will sign on for the $400 expanded unemployment benefit. Here’s why.”
“Gov. Phil Murphy is still mulling whether New Jersey will offer President Donald Trump’s $400 expanded unemployment benefit to people still out of a job and who no longer receive the expired weekly $600 benefit.
“I don’t have any news for you today,” the governor said Wednesday during his regular COVID-19 briefing. “But that’s something we’re looking at.” On Friday, Murphy reiterated, “Nothing new” when asked for an update on the benefit.”
https://www.nj.com/coronavirus/2020/08/murphy-still-unsure-if-nj-will-sign-on-for-the-400-expanded-unemployment-benefit-heres-why.html
“Murphy still unsure if N.J. will sign on for the $400 expanded unemployment benefit. Here’s why.
Murphy previously said he didn’t see how New Jersey could afford to pay for the expanded benefits, which could cost New Jersey $68 million a week if the state’s unemployment rate stays where it is today.”
Didn’t you just borrow 10 billion to protect workers? I guess it depends on what side of the fence those workers are on.
“I don’t trust Lee Atwater’s deathbed conversion. I would trust him, if he had made his 180 discovery in perfect health on his career apogee.”
Deathbed conversions and especially apologies are the ultimate act of greed. They are for the benefit of the soon-to-be-deceased, not others. The person held his sociopathies to the very end, then only admits what everyone else knows to be true for his own relief at the last possible second when it no longer matters to him personally. Act of total selfishness and cowardice.
Similar to rediscovering religion on a Stage 4 diagnosis after a life poorly lived…not an epiphany, just a selfish cramming for finals after putting off all the hard work.
After Juice and SX determine who pumps better of course…..
What about Pumpy, doesn’t Pumpy Pump?
I’m in favor say I .
Just make sure the blender is up and running.
Pumpy’s pump is different it’s a five stroke…..five strokes and he’s done
Phoenix – He is F*king lying.
$44 billion for unemployment benefits from the Department of Homeland Security’s Disaster Relief Fund will be transferred from the Treasury to the states.
That will only last five weeks but for those poor bastards in the streets it better than nothing.
Speaking of nuts. I toured Point Pleasant last night around 8:00 PM, the parking lots were all full, the cheap motels looked packed and the boards were full of with what looked like day trippers, few wearing masks not really social distancing either.
The teenagers were being teenagers, no masks and hanging out in groups all over each other.
School’s out for summer, school’s out forever…..
“He is F*king lying.”
Par for the course for a politician.
Phoenix, the unrest it can cause is what concerns me…they should not play around with the moral hazard they created.
Phoenix,
The next two paragraphs in that article…
Murphy previously said he didn’t see how New Jersey could afford to pay for the expanded benefits, which could cost New Jersey $68 million a week if the state’s unemployment rate stays where it is today.
“And again, this would be in the mode of some other states that have accepted, if you will, the $300 extension without the state match itself, which we have said would be, you know, I think $3.5 billion for New Jersey,” Murphy said Wednesday.
The president’s executive order allowed for an additional $400 in weekly unemployment benefits, but states had to kick in $100 of the payment. Later, the order was clarified to say that states could apply for $300 payments without needing to pay the extra $100, with the money states are already paying towards base unemployment benefits could count towards the $100 contribution.
Pumps: Please get help. Do it for your family. I will pray for you.
Juice: We have 10 billion in approved borrowing, Murph can use that for the unemployment benefits.
3b ,
It appears that has been appropriated for the protected class.
All you other serfs, those who own gyms, restaurants, etc # salt. Pesky private businesses and workers, go get a job and pay taxes to us public workers so we can get paid. You can eat the leftovers.
Joyce,
Article was telling was it not?
“Phoenix, the unrest it can cause is what concerns me…they should not play around with the moral hazard they created.”
The “system” is what all civility is based upon. When one no longer trusts the system, you don’t know what you are going to get. And just like the atmosphere is heating, so is everything else.
Once you pass the point of no return on a nuclear reactor, there is no going back. Keep playing with fire, keep ignoring the gauges, open the wrong valves, or sit there and do nothing. It seems they all just keep tempting fate.
Kamala- the grin on her face like the cat that ate a canary makes me ill. Biden at least looks somewhat serious , if not confused, but not downright giddy. You can see the drool dripping out of her mouth.
Anyone in their right mind about to take over the helm of the USS America should be serious at least and petrified at worst. That one shows signs of neither. She looks like she just walked into a shoe store with a fistful of $100’s.
Phoenix: The public sector unions make no sacrifices in this environment, yet to hell with the rest of the workforce. One more reason public sector unions should be abolished. Unions for all or for none!
It was public sector government/judges that helped abolish unions for private sector workers, but they only strengthened job/salary protection for themselves.
Then when you need them to do such jobs they just plain suck at it-or are criminals themselves.
‘Unions for all of none’ is an idiotic statement. There’s a distinction between private and public sector that has been discussed here numerous times so I won’t delve into that again. But in the private sector, there shouldn’t be an all or nothing… ridiculous.
For sure
Phoenix says:
August 22, 2020 at 1:04 pm
Joyce,
Article was telling was it not?
Quit crying, you made your choices in life. You could have joined a union too, but you didn’t. Don’t cry about it now. Wanting to bring people down is just plain wrong and unpatriotic. They are your fellow citizens, and in the end, they are nothing more than workers coming together against the elite owners of the economy….demanding more than shut up and be happy you have a job like you.
Move to Europe,, they take care of all their workers. Seems like you would be happier there.
3b says:
August 22, 2020 at 1:12 pm
Phoenix: The public sector unions make no sacrifices in this environment, yet to hell with the rest of the workforce. One more reason public sector unions should be abolished. Unions for all or for none!
Look passed slogans and words, actions tell a different story.
I think the word you’re looking for is “past” and everyone I know that tends to lean right works or owns a small business. The old school union dem0crats who asked what they can do for their country were like this as well until the new breed of freaks hatched from their cocoons and decided America is evil, greedy and rac1st. The new face of the dem0crat party looks a scene out of Total Recall.
Pumps: I am praying hard for you. Medicine and therapy may help too.
Joyce,
Now more muppets are buying in at severely inflated prices with no job security and massive tax increases on the horizon.
Like going from VFR into IFR without knowing what to do. And going to end up the same way.
30yr would probably know, is it time yet to go to the tax sale certificate auctions?
Pumps,
Not for nothing, but at the end of the day you and the teachers are going to get hammered/slaughtered like the rest of us. Trust me it’s coming.
OTOH, the enforcers will be paid, and their union is going nowhere. They are armed and skilled to enforce what needs to be enforced for the oligarchs. They will be supported all the way through the upcoming civil war.
Joyce: Unions for all or none? It’s a generalization.Why unions in the public sector for low level office workers, but not for their various counterparts in the private sector? Why should those folks who are employed at will give a damn about public sector unions? No one is looking out for them? Why a protected class on the public side , but not the private? Why are there construction unions with the coffee guy , and that’s the term that gets paid 65.00 dollars an hour, but no unions for the tech support guys? Why are some sectors protected by unions, and not all? I stand by my statement, unions for all or none.
Phoenix:Exactly! Why was it ok to abolish corporate pensions and replace them with 401ks,but the public sector gets to keep theirs? When I retire , I will have two corporate pensions, and 401k, and yet the young folks in corporate America no pensions and hired and fired at will.
“and yet the young folks in corporate America no pensions and hired and fired at will.”
Cause according to the boomers, who get Medicare, Social Security, Pensions, property tax relief etc are so much better and smarter than everyone younger than they are. According to boomers, they are lazy screen touchers, whiners, living in mommies basement, should pay boomer college presidents millions for their educations, etc.
Then purchase my crap shack for 50x what I paid for it, and pay my pension debt as well. I’m leaving NJ and you sucker with the debt.
And you should all do this without getting what I received all of these years. Yup.
I’m surprised that the youth puts up with the crap the adults spew out. I guess if you lie to them in a school it takes years for them to figure out just how corrupt you old goats are.
How much is this going to cost taxpayers?
“A North Jersey school district is accused of covering up bullying against a student after she was sexually assaulted in an effort to keep bullying numbers low and maintain a relationship with a local college, a lawsuit filed this week alleges.”
I know first hand how protective these districts are in protecting their own and how hard they will fight to keep information private.
Some workers thought they didn’t need unions and were better off without it. They played themselves.
3b says:
August 22, 2020 at 2:28 pm
Phoenix:Exactly! Why was it ok to abolish corporate pensions and replace them with 401ks,but the public sector gets to keep theirs? When I retire , I will have two corporate pensions, and 401k, and yet the young folks in corporate America no pensions and hired and fired at will.
It’s been getting hammered because of people like you and others on this board. Constantly attacking the profession and disrespecting on a regular basis. Without a union, teachers would be toast because of people like you.
Phoenix says:
August 22, 2020 at 2:19 pm
Pumps,
Not for nothing, but at the end of the day you and the teachers are going to get hammered/slaughtered like the rest of us. Trust me it’s coming.
Phoenix: I am a tail end boomer and have been saying this for years. Long before you joined the blog. It’s wrong what was and continues to be done to the young people. And now screwed again with the run up in house prices yet again. They fear they will be shut out, and are making in my mind poor financial decisions in a desperate attempt to buy a house. I bought my first house in my twenties, and supported my wife and kids for years on one income, we all did. Those days are gone, and they were not that long ago. Now you need two incomes for the same house that’s just older, coupled with criminal property taxes. And I have seen some of these recent buyers and they are late 30s early 40s and taking on these massive mortgages, with young kids and some still with student loans!! If one loses their job it’s over! For some they won’t even need to be close to the city with WFH becoming commonplace. They are saddling themselves with crippling
debt. But hey the boomers can get 500k for the expanded cape they paid 75k for and have not painted it since Nixon was President.
Only if you define ‘welfare’ in the narrowest of ways can you think it’s exclusively or even predominantly something “the left” receives. Your heroes on the right do not practice what they preach.
Fast Eddie says:
August 22, 2020 at 1:47 pm
Look passed slogans and words, actions tell a different story.
I think the word you’re looking for is “past” and everyone I know that tends to lean right works or owns a small business. The old school union dem0crats who asked what they can do for their country were like this as well until the new breed of freaks hatched from their cocoons and decided America is evil, greedy and rac1st. The new face of the dem0crat party looks a scene out of Total Recall.
There shouldn’t be public sector unions in my opinion, but my main point was referring to the generalization. Legally speaking the laws and regulations protect private unions and public unions the same as far as I know. And I pointed out before the SEIU has private employees. Unions didn’t spontaneously appear.
3b says:
August 22, 2020 at 2:22 pm
Joyce: Unions for all or none? It’s a generalization.Why unions in the public sector for low level office workers, but not for their various counterparts in the private sector? Why should those folks who are employed at will give a damn about public sector unions? No one is looking out for them? Why a protected class on the public side , but not the private? Why are there construction unions with the coffee guy , and that’s the term that gets paid 65.00 dollars an hour, but no unions for the tech support guys? Why are some sectors protected by unions, and not all? I stand by my statement, unions for all or none.
3b
Absolutely. But no one in politics is going to do anything to help them. Outsourcing jobs is not going to help them. Robotics is not going to help them. Law enforcement with financial penalties are not going to help them. AI is not going to help them. Immigrating anyone is not going to help them.
And boomers are not going to help them either, nor will the Karens. They will just throw things around the store and claim they are victims. Just look at the two presidential candidates. Wow who does that?
I don’t have faith this is going to end up well.
Joyce. Fair points. But my statement was in broad terms. As far as I know there are no private unions for secretarial and support staff, or the tech workers on the help desk, or the operations/ back office people, or accountants, yet there tax dollars have to go to support public sector unions.
Phoenix: I agree. I think there was a chance if sanders or Warren were the Democratic candidates, but Grandpa Joe, and Kamala?? No. Sanders/Warren would have scared the powerful vested interests who have bought and paid for the politicians on both sides. Needed reform could have been enacted, and the system reformed, but with Biden its back to business as usual. So come 2024, the progressive left will be back with a vengeance, only this time led by the idiot AOC. She is the worst kind of zealot ill informed on any topic, arrogant, and self righteous; not to mention she talks like a 12 year old. They are going to tear it all down! It’s the leftist version of Trump populism, and it will be scarier than Trump was.
3b,
I believe I understand where you’re coming from and I agree with the sentiment, but I think it’s overly broad to be useless. There are tax dollars to support public workers because they are public workers (and more than is needed for political reasons).. There is a small amount of tax dollars to support public unions purely for political reasons. There is a small amount relatively speaking to support private unions for the very same thing. There are no unions or what remains is dwindling because they can offshore and haven been, and recently automating, jobs in the private sector because the politicians sold out as you rightly have said numerous times. When looking for blamed, I think the root cause is elsewhere.
Joyce: That’s a fair assessment, and I can basically agree with it.
Occam’s Razor time, Occam needs a shave.
So what is the #1 foundation level problem that I see. I see the manipulation of financial exchange (money) to the benefit of paper assets debt based banking. Likely failure point the currency value of exchange. How? devaluation based on the increasing ability of its supply to maintain an increasing price (not value) of the underlying paper debt. Alternative? at unknown point underlying USD currency integrity or its ability to hold value is questioned, at worst catastrophically because the biggest reason for its value is because is backed up by US Armed Force, thereby critical military failure means currency underlying credibility is damaged. So if US civil war, USD will have the value of the Yugoslav currency had as Balkan War progressed.
Not much inventory to buy in flyover. Interesting that a couple of new high end town home rentals getting max dollars. Both near max occupancy w 15+ % of tenants directly from NYC. Landlords half way across the country exploiting and benefitting from NYC exodus. Riding the storm out And back to NYC or forever gone? How long can this last till NYC gets choked out?
Occam – Dollar is king for many reasons the US Military is just one. I see no reason for our Dollar Hegemony to not continue, devaluation is inflation the Fed has signaled they need to catch up with their target inflation. How they will do that remains to been seen.
Fat Tony and Cankles Karen watched America’s got Talent over the DNC convention, they will not be manning the trenches and ramparts anytime soon.
I heard the next generation of gold bugs is here now after giving up on Bitcoin. I still have a position GLD and it has peaked again. Might be time to lever up, direction unknown.
Nomad : NYC is going to have to reinvent itself, and part of that entails becoming more competitive. The days of we are NYC f u pay me are gone. NYC can have a premium over some other areas, but it has to be within reason which was not previously the case. This whole area needs a cleansing process of significant declines in house prices, property taxes and the cost of doing business.
3b,
The FU pay me thing was a shock when I first came to NJ but you are right, it’s days are numbered. As far as forcing employees back to NYC offices, the class action attorneys will be all over that. I think it’s late 2021 at best before this all changes and it’s already starting to buckle …
Sanford Bernstein left the city for Nashville a few years ago. Not sure how they are doing but I would imagine other corporations considering departing the tri-state. The cost and congestion and daily hassles no longer worth it. Has to be a lot of companies developing Technology to enhance WFH. 5G arrival couldn’t have been timed better and I suspect collaboration tools a couple of years from now will make Zoom look archaic. Our household has done WFH for years. Now that COVID showed up, no need to remain in NJ so within 9 mos, we become part of the Exodus.
Nomad: Could not have gone on forever and the pandemic just accelerated the process, and the riots too. As I have been saying many companies in nyc have been geographically dispersing this will continue. My company,does not even talk anymore about when we are going back. We were already 2 days WFH, and they have told us that will be increased. Even when we do go back we will be geographically dispersed, and this was the plan prior to the pandemic. My team will be in 4 separate location, 3 in the NY area, but only one in NYC, and one in the south. So there really is no real justification to go into the office at all, we will be zooming email etc just like now.
Be care lest you cross the 30 year realtor command and control language barrier.
https://m.youtube.com/watch?v=26-VzfBZg1w
3b says:
August 22, 2020 at 4:59 pm
So come 2024, the progressive left will be back with a vengeance, only this time led by the idiot AOC. She is the worst kind of zealot ill informed on any topic, arrogant, and self righteous; not to mention she talks like a 12 year old. They are going to tear it all down!
Chgo: Don’t care. It’s true. I don’t know how any one can she she is a good speaker, or well informed. She talks like a child, she is not informed never mind well versed on any of the topics she opines on, yet fancies herself an expert. She is ignorant and arrogant, and intolerant. She is an embarrassment to the Democratic Party.
Chi,
Never saw that vid, that’s a rip. Funny but that face would give anyone nightmares.
Agree with the previous commentator: “To a large extent, the bumper demand for housing is an indication that Americans are aiming to make up for lost time. Many economists believe that what we’re seeing now is essentially a postponed spring home-buying season.”
Suspect with virtual learning, we’re going to see the market run longer during the summer than we normally do.
Yeti quality without Yeti price? Any traditional coolers that are almost as good as the Rotomolded?
Mention AOC on this blog without saying you hate her and some of you have severe reactions. Yet in the same breath some of you claim that you would have voted for Bernie Sanders had he been the Democratic nominee. How do you reconcile this? Their policy positions are similar.
30 year realtor
Do you think she’s like cool and stuff?
HMB,
I think she is smart, ambitious and has chutzpah. Don’t agree with many of her policy positions.
Post Office Pensions: Some Key Myths And Facts
https://www.forbes.com/sites/ebauer/2020/04/14/post-office-pensions–some-key-myths-and-facts/#1322935c47f5
30 Year It’s perfectly reconcilable . Sanders and Warren, particularly Warren are well versed, knowledgeable and articulate. As well they appear to be able to compromise. AOC is not a policy expert in one area. Her Alma Mata should be embarrassed. She is not well spoken, knowledgeable or articulate. The worst part is her arrogance and ignorance.
30 year: No offense, but smart? I think she is the exact opposite
Does she define the times or is she a product of the times?
Generally this is a useful metric of staying power.
People who are a product of the current environment generally don’t stick around too long.
Even though a good case can be made for her being a product of the current environment, the seat is a democratic stronghold that she can hold on to if she plays her cards right. Got to give her credit for how she won the primary over Crowley
Grim & 30Yrs
AOC defines the times. Again, this is generational. 30YRs asked – Why OK with Bernie, but you get Hives with AOC?
Well, take a look at the complainants. Bet you dollar for dollar they are older GenXrs or Boomers. Bet you also they don’t think Puerto Ricans/Mexican are smart, talented or can achieve without “preferential treatment”. Add to generational communication patterns changes and you got old fart complaining about annoying youth.
In short they are a product of their time – where Latinx are view a certain way, usually as Jesus – not the religious messiah, but the gardener. Just like pick a WASPY male in his 80’s and his views are not kind to polish, jews, asians. All of the last three highly defended and represented here to the point that Vomitus Pumpkinatus was spewing polish history.
The great Howard Stern with a generational perspective https://youtu.be/fCMuAFWtlLc
30 The voter turnout was minuscule in her first election, and the incumbent thought it was his seat forever. I attribute her win to his failure to his complacency.
Sunday: I have a problem with AOC because she is an idiot , and to say she defines the Times is an insult to all the young smart articulate people out there.
3b,
You miss the intelligence of targeting an incumbent in an off year primary. Low turnout was what she specifically counted upon. Upsetting Joe Crowley was not something that happened by chance.
Males and females exhibiting similar behaviors are categorized differently. Smart and aggressive women are viewed negatively. Smart and aggressive men are admired.
I dunno. She’s just appealing to her constituency large oversized eyewear doesn’t make smarter?
30 yr she says stupid shit all the time. The biggest whopper was Questioning whether people should not have children anymore.
A child born today is less likely to be poor than at any time in all of existence. When She was born just 30 years ago nearly 40 percent of the world’s population lived in extreme poverty. Today Thanks to capitalism It’s below 10 percent, that is an undisputed fact, we are at our peak of civilization yet this congresswoman claims it’s a horrible time to be alive and the future looks extremely bleak. Marxist horseshit wrapped up in green energy trope.
ExEssex,
You can’t comment on AOC. You are already prejudice. You have stated many times how you have learned to dislike hispanics/latinx since you move to CA.
Betcha, you are a second gen something or other that left Jerzy to get over your parent close to wetback/just off the boat smell.
30 year No I didn’t, I said that’s how she won. It’s not like she had a message that got thousands out to vote. I will give you it was a strategic move.
Juice: And she also said people were rioting because they needed bread!! I didn’t see any rioters running through the streets with loaves of bread in their hands.
30 She is aggressive but not smart. Men and women who are not smart but aggressive are not views favorably, they are generally called assholes. If you consider her smart, that’s your opinion, but I think if she were a Republican you would not consider her smart. She is as dumb as Betsy Devos.
1:03 you gotta forgive me. I had a really bad experience. But yeah you guys can have California it was your to begin with.
Truth is I’m just a scared and lonely soul….
On an island all aloooooooone. (Guitar)
And my friends all know iM sImPle mIndEd I can’t be held acccountable,
For things that aren’t surmountable like bein a knucklehead onliiiiine.
Yeeeeeeeah. G-/nite
New Jersey lab BioReference called out by NFL something is amiss with their Covid-19 testing.
Humm Elmwood Park…
BioReference needs 200+ people to fill 4 roles in our Elmwood Park, NJ lab. Start as a Temp (6 mo+ to likely permanent). Earn $14/hour + more depending on shift/day. Higher rates available through 10/2. Click here to apply for Specimen Processors, Handlers, Sorters or Scanners.
“She is ignorant and arrogant, and intolerant. She is an embarrassment to the Democratic Party.”
Need to fix your typo…..:
She is “the embodiment of” the Democratic Party.
There, all better…
Essex: Actually it belonged to the Spanish, and there was only a handful of them in California. Give it back to the native Americans.
I actually thought this over a bit. After a 1/4 bottle of Macallan 12, I want to add some commentary on this AOC sh!t.
I realized that I take serious umbrage with your characterization of my chuckle earlier this week.
Do you know where I grew up and what I’ve seen? I’m not some rich republican old white dude in the suburbs……. I grew up next to AOC’s district and Anthony Weiner’s too…. not just grew up….. I lived there until I was 23. Not only that…. I didn’t get a driver’s license until I was 25. I spent every waking hour walking those streets and taking the subways through those neighborhoods. I was tipped off that the 109 Precinct told the black, Latino and Chinese gangs in Flushing to keep your hands off the minorities (i.e. white kids in suits and ties).
In terms of my respect for women (you dipsh!t), I’ve dated many women MUCH more impressive than AOC. I’ve dated women from Cornell, Yale, Berkeley, Swarthmore, Williams, Boston College, Rochester, Chicago, MIT….. some of them latinas. Most of these people have careers as University professors, executives, lawyers…… I’ve also dated supermarket cashiers, parking lot attendants, bartenders, str!p dancers, and hair cutters.
Bottom line…… GFU and your authoritative thought control demands.
30 year realtor says:
August 23, 2020 at 11:53 am
Males and females exhibiting similar behaviors are categorized differently. Smart and aggressive women are viewed negatively. Smart and aggressive men are admired.
ChiFi,
Thanks for fessing up to Macallan 12. I figure since the pandemic, everyone here is likely posting under the influence of alcohol, drugs or pay meds in the case of loser teacher from Wayne.
This blogged has turned into the equivalent of this great scene in Airplane
https://youtu.be/ar3wkC8U6LA?t=37
Chicago,
Have another drink.
This is from this NY Time Book Review https://www.nytimes.com/2020/08/11/books/review/kurt-andersen-evil-geniuses.html?action=click&module=Well&pgtype=Homepage§ion=Book%20Review
The following paragraphs explains AOC.
Sometime between then and now, the writer Kurt Andersen argues in his essential, absorbing, infuriating, full-of-facts-you-didn’t-know, saxophonely written new book, America lost one of its “defining” traits: “openness to the new,” its gee-whiz tendency to “try the untried and explore the uncharted,” its “innovative, novelty-seeking, risk-taking attitudes,” its “new conceptions of freedom and fairness and self-government and national identity” — built, it must be said, atop tyrannies new and old.
Andersen traces this “cultural U-turn” to the 1970s. (Reading this book will disabuse you of any notion that hair was the biggest problem of that era.) In those years, Andersen writes, America swerved away from the new on two distinct but intersecting levels. In culture, it fell into a “mass nostalgia” that became a “cultural listlessness,” a slowing of the rate at which life looked, felt and sounded new — Americans from the 1950s and 1970s appearing as if from different planets, but Americans from the 2000s and today looking not all that dissimilar. Meanwhile, in political economy, America was hijacked by capital supremacists, who preached and enacted, as Andersen details with wallets-full of receipts, a return to a pre-New Deal order: “everybody for themselves, everything’s for sale, greed is good, the rich get richer, buyer beware, unfairness can’t be helped, nothing but thoughts and prayers for the losers.”
To begin with the conclusion of “Evil Geniuses,” Andersen, the author of several books and an accomplished magazine editor and radio host, argues that this double reversion threatens the endurance of the country he has long chronicled. America, he says, risks being “the first large modern society to go from fully developed to failing.” In an illustration of his gift for connection-making and framing, he suggests that what could save the country “is a transformative pivot almost as radical for us as the one China made” when it abandoned Communism for capitalism, while, Andersen notes for our benefit, more or less preserving the chassis of its political system.
Thanks to a series of secret and not-secret memos, corporate America got organized to pursue political power in a way it hadn’t before. Through policy changes like corporate and high-earner tax cuts, society was reorganized. Just as important — Andersen is very useful here — the rising capital supremacists ruled through “countless nuts-and-bolts changes so dweeby and tedious, and so often bipartisan, that they appeared inconsequential and were uncontroversial,” as well as by even stealthier “screwing-by-inaction” or “malign neglect,” changing things by letting things expire, failing to index things. Year by year, continuing into the present, through these policy changes explicit and subtle, American life was turned upside down — in a way that many people seemed not to realize. Pensions were gutted. The minimum wage was effectively slashed. Companies started spending much more money buying back their own stock than on research and development. Wall Street took over the management of companies. Antitrust enforcement largely disappeared. An app-guided, app-stiffed servant class was born.
The rich and the right correctly understood what they were seeking as a cultural project with economic benefits. They acted accordingly. In territory that has already been reported by Jane Mayer, in her must-read-if-you-care-about-your-country-even-just-a-little book “Dark Money,” they reserved a fraction of the spoils of widening economic inequality to invest in the yanking open of political inequality, so as to widen the economic inequality yet further. Obviously, this meant political giving. But it also meant funding universities, think tanks and nonprofits. It meant ensuring that cause-boosting thinkers like Charles Murray were well tended. It meant developing new academic fields like “law and economics” and new campus organizations like the Federalist Society. It meant buying up media so that the capital-supremacist viewpoint could reach ordinary people through Fox News and elites through The Wall Street Journal.
And with his own complicity in mind, one place Andersen does break some new ground is in the portrayal of the shameful liberal complicity that was essential to the long plutocratic hijacking. For someone of my age, gray but elder-millennial, for whom polarization has been the oxygen in the air, it is head-spinning to be reminded how much of the nation’s turn to the right and to the rich the Democrats enabled. The Democrat-controlled House voted to cut taxes on the richest Americans, to a rate lower than at any time in the previous half century. Ronald Reagan couldn’t do it without them and, in the Senate, one Joe Biden voted for the cuts, too. As the tide turned against antitrust regulation, writers in The New York Times (oh yeah, this newspaper) and Newsweek cheered. When Gary Hart sought the Democratic nomination for president for the second time in 1988, he actually enlisted as a tax policy adviser Arthur Laffer, the clownish economist who invented the hokum of supply-side economics (and who once asked me, before a television debate, if “the Indians” still brush teeth with twigs).
Voting for cable deregulation? Hiring Goldman Sachs bankers as advisers? Praising Charles Murray’s advocacy of punishing mothers on welfare? Each time, Democrats were #OnIt. With Democrats like these, do we even need a second party representing the plutes?
At this moment of five intersecting crises — health, economic, racial, democratic and climatic — things can feel hopeless. The rich and the right did it. We all live in their world now, and while in their world it keeps getting warmer the consolation is you should avoid the outdoors anyway, because the defunding and defanging and delegitimizing of government has left the virus rampaging.
5:08 “…worse than Detroit…”
I do love Street tacos. That has to count for something.
AOC is hot! Very sexy!
You are winner, let me tell you.
Again, the lack of respect for teachers by TOTAL LOSERS, who somehow think they are above people who are in the teaching profession is telling. You have one jerkoff that claims I can’t comment on certain subjects because I’m a “school teacher” and then you have pricks just come out and say it…like this quote.
“Loser teacher”
I also think the fact that no one wants their child learning remotely, is proof that WFH is garbage. These businesses have only been maintaining status quo, not trying to grow. Doesn’t remote learning show how difficult it is to train new workers? How crappy they become?
So you are telling me that you don’t want your kid learning remotely, but you would open up a business based on workers working remotely? It’s going to fail hard.
But nomad/3b types are convinced, they just don’t get it.
Ever notice how crappy service has become from call centers, restaurants, and even Home Depot lately? Workers that have to go in simply don’t give a f’k, and people working from home simply don’t give a f’k.
Home Depot used to never have lines, now they automate the cashiers and it’s a sh!t show. All of this has been due to the WFH environment produced by the pandemic. Just my two cents.
I am praying hard for you. I really hope you get the therapy and medication you need. Delirium is starting to set in. You have great medical coverage please avail yourself of it. And I will continue to pray for you.
I admit I find churros delicious.
Pumps
Home Depot has had self check out for years . They can have 1 person watching and assisting 4 to 8 people checking out at the same time.
And lots of people want remote learning for their kids. My district everyone is remote learning for the first 6 weeks. This coming Friday is the deadline for parents to request a change to in person schooling for the 2nd 6 week session. My kids will be remote for that as well. I don’t see how 4,000 people can socially distance in a school. And air conditioning is believed to be another way COVID can spread. Over 2% of the population in my area has tested positive. I suspect the true number is 5-10 times that. Flu season is starting here too so I will sit back and see what happens to our case count and hospitalization rate.
A very intestesting discussion is going on in the Remote Learning world. Who owns the rights to recorded content for Online learning? Is it the school or the teacher. If the teacher leaves, can the school still continue to teach the course with the previously recorded content.
https://www.theverge.com/21373669/recorded-lecture-capture-copyright-universities-coronavirus-fears
Someone from the NY Times reviewing a book written by some NPR guy. They think all of our problems are caused by non-leftists – what a surprise!
Hilarious seeing some govt-supported lefty complaining at the tiny fragments of non-lefty intellectual diversity on college campuses. All traces of wrongthink must be obliterated!
30 Yr, Welcome to the club, once you prick his fragile ego with the truth of what he is, he will hate you forever.
Chi, I do hope you wake up tomorrow and reread your Macallan diatribe and realize how tone deaf it actually is.
“The biggest whopper was Questioning whether people should not have children anymore.”
Juice, what you miss here is that this is a relevant question for the kids of today.
We have had Millennial, hold off housing for long enough. How they are handling relationships, from 14yo hookups onward is completely different from how my Gen X went about it.
Don’t criticize it, just because you don’t understand it.
The lines are a joke…first time seeing this.
Hold my beer says:
August 23, 2020 at 9:23 pm
Pumps
Home Depot has had self check out for years . They can have 1 person watching and assisting 4 to 8 people checking out at the same time.
I know, it’s people demanding perfection from an imperfect situation. I was simply pointing out that WFH for their child is unacceptable, but they expect business owners to accept it? Not a chance. The one’s pushing it are trying to benefit off the tech..
“My kids will be remote for that as well. I don’t see how 4,000 people can socially distance in a school.”
The issue with AOC is not her misguided policy but rather her ignorance. Just look at what happened with Amazon…
Giving AOC credit isn’t right she was a creation of her handlers, she was selected by people looking to pull the Democratic Party further left. As an attractive young Latina who is relatively intelligent she would be the perfect vehicle for the constituency of her district. Saikat Chakrabarti and others from the Bernie Sanders wing of the DNC engineered her primary challenge and subsequent election. They were looking for an opportunity and advanced AOC as that opportunity, it was a strategic win from the Bernie wing or party AOC just managed to be in the right time and place(working on the Bernie campaign). She’s not a dummy but is also not particularly smart or distinguished, I mean her prior job was bartender, undergrad is BU which is a decent school but not in the upper echelon, I doubt it is better than Rutgers, my uncle is an alum of BU no dummy but not the brightest member of the family. She frequently speaks without thinking…..She is ill-equipped and lacks the knowledge and expertise to be an effective member of clowngress. None of her policy is hers, she is a puppet, someone fitting the right demographic for her district nothing more.
Pumps my house is 100 years old, I spend A LOT of time in home depot as the old home requires constant maintenance and repairs. I have not experienced this in the worlds largest Home Depot, by and large the new self checkout machines move quickly, I haven’t seen a problem in the store in vauxhall even though it is busier than ever.
I have nothing but respect for teachers, it is not a career that society values very highly, the pay isn’t great and there is a tremendous amount of bureaucracy. People demean you for your profession, which we should not do, rather we should stick to debating you on the merits of your posts, which often times are incorrect and uniformed. Your position as a teacher makes you unqualified to speak about corporate America and the plans of private industry. You are dead wrong, WFH is here and the next phase involves reducing salaries. My wife is pleading with her people(her org is like 50 people) to come into the office because and I quote this is coming from the highest levels, if we don’t need those people in the office in London and NYC we can pay someone MUCH less in India or SLC. They have been aggressively pursuing a value location policy before but now they look at this as an opportunity to cut costs. First will be salary cuts, then if people leave or are laid off they will be replaced in a value location. My employer has aggressively pursued India resources during the pandemic, it’s nearly impossible to get a local resource. WFH is VERY, VERY bad for expensive markets, people should not be enthusiastic about this companies are very cheap once they realize the work can be done remotely they can use wage arbitrage to find the lowest cost place to do the work……
https://summit.news/2020/08/21/entrepreneur-new-york-city-is-dead-and-its-not-coming-back/
Several realtors in flyover said they sold homes to two professional households fleeing NYC. All of you tri-state natives who know the area well, is NYC dead or is the upheaval going to make the flee the city thing last longer than anticipated with NYC making a rebound a few years later than anticipated? Seems as if the deteriorationlconti uses for another 6-9 mos and drags on the bottom 2-3 years after that the recovery will take a decade.