From MSN/Money:
After a Year of High Prices, Homebuyers Are Burned Out
Alexandra Lashner and her husband have been saving for a home since they got married in 2018. Their plan was to buy in the Philadelphia area this year, close to where they grew up and to their parents.
Like the rest of the country, demand for homes and prices have been through the roof in the Greater Philadelphia area. Knowing that, the couple was wary of going over budget or paying over asking price and didn’t want to waive their right to a home inspection like many buyers have in order to win homes. But after nine months, losing out on two homes and seeing their pre-approval letter expire, the couple is hitting the pause button on their search.
“It’s becoming impossible for us to buy a home where we grew up, and in the area where my parents grew up before me,” says Lashner, an account executive with Frank Advertising in New Jersey. “It’s downright exhausting and we’re burned out.”
The Lashners aren’t alone. In June, just 32% of consumers said it was a good time to buy a home — the lowest percentage in the history of Fannie Mae’s Home Purchase Sentiment Index. (That’s despite super low mortgage rates and a sense in some circles that everyone is buying right now.)
In another recent study, 33% of people who considered purchasing a home this year decided against it, according to ServiceLink, a mortgage services provider.
Of those, 31% said the reason they weren’t buying was because housing options had become too expensive. Home prices have increased by double digits every month since last summer. In May, the median existing home price rose to $350,300, up 24% year-over-year, according to the National Association of Realtors.
First
Lefty,
I’m in for about 6K. Heck of a spike overnight.
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Thank you, President Biden. New stock records. He should be tweeting his glory. And now, he is going to protect the American worker and get us higher wages through executive order. See how easy it is to be a presidential ball washing dolt.
Ahh… a return of the gas mask special for 600K is in full bloom! I think most do not smoke in the house any longer so the Chesterfield and cabbage bouquet is waning. That has been replaced in recent years by the pet-p1ss aroma. Ethnic cooking imbedded in the walls is newly emerging, too. Any dish other than European or American roots is rather nauseating personally but to each his own I suppose. I mean, if marinated goat balls in a garlic cream sauce is your thing, then have it but don’t get insulted if someone offers you 20% less than your asking price.
Best economy ever. Help wanted signs everywhere. No protests besides the moron anti-vaxers. I even read that Jew and a Muslim shook hands in Jerusalem.
Yes….bad news is I only started legging in so I didn’t have real money in there….good news is the leg was a bunch of long calls so I’m up bigly…lol, usually happens the other way, I go to leg in and the shares plummet….
Have a bunch of cash sitting across five SAPCs as cash equ1valents with upside, one hit this morning….not big percentage wise but skimmed 7% off it from about six months ago which is obviously outstanding for good size cash balance…so overall feeling kind of fat today….
Lib: Best economy ever? Peel off the wall paper and one can see it’s only paper deep. As for the Jew and the Muslim in Jerusalem, I wish it were true but it’s not, in fact it’s going the other way.
W.ent in de.ep on AA.PL but 0v.er hedg.ed it for the rec.ent mo.ve
gre.en today, only sl1ghtly and not ne.arly what it could have been
Still, may need to tre.at m.yself to a b0.ttle of Lag.avu.lin 0lder than my f1rst b0rn ton.ight, ha.
Let’s keep this going. Good t1mes.
Bystander says:
July 9, 2021 at 3:53 pm
“Thank you, President Biden…”
You forgot to mention the great job he’s doing at the border (with Karmella’s help of course) and the sky-high gasoline prices he’s given us. You Dem stooges used to be better at ball washing — I don’t think you’re fully on-board with SlowJoe and his amazing artist son.
What’s this ball washing thing?
Does Biden gold? Are we back to counting the days each POTUS golfs?
I started seeing some price cuts for the first time this year. Maybe some houses were optimistically priced, but some were selling. Won’t you be my neighbor?
https://www.zillow.com/homedetails/3476-Mistletoe-Ln-Longboat-Key-FL-34228/47464875_zpid/
christ, it was sarcasm
3b says:
July 9, 2021 at 4:07 pm
Lib: Best economy ever? Peel off the wall paper and one can see it’s only paper deep. As for the Jew and the Muslim in Jerusalem, I wish it were true but it’s not, in fact it’s going the other way.
I agree 3b..of course it is, but the Fed has rolls of USD wallpaper. Smallbrain thinks his Orange god created greatest economy ever and Biden would destroy it. It hurts to see that it does not matter, only printing matters to Wall Street cartel and star gazed 401k loving sheeple.
Some Federal agent just came to my door and asked me if I was vaccinated. I told her I’m a democrat and she (I think it was a she) apologized and left.
Muslim and Jew hugging…the Biden presidency is uniting us all.
https://youtu.be/UacV3KwYsR0
She must have known that only anti-vaxxers are red hat dolts mad at the virus for taking away their burnt orange dummy, making him worse loser than Carter. They’ll show that virus who’s who by dying from Delta. How’s the AZ recount going? Any fraud yet? Bamboo ballots?
I thought they were talking about washing testicles, not golf balls.
https://thegolfnewsnet.com/golfnewsnetteam/2020/11/11/what-is-president-elect-joe-bidens-golf-handicap-how-good-is-he-121246/
This article claims Biden is a 7 handicap. I doubt it very much that’s true today, unless he’s playing from the ladies tees. Obama’s handicap reportedly improved in office from 17 to an “honest 13” after playing over 300 rounds as president. 36 rounds a year would definitely qualify as an avid golfer. Trump played 300 rounds in only four years, but then again Trump often lived at his own golf club.
The average golf handicap is 14-15, only counting people who keep official handicaps, not counting people who play a couple times per year or don’t know the rules for keeping score, counting penalties, etc.
After taking up golf 6 years ago I’ve played about 120 rounds of golf total during that period, and have a handicap just under 13. Three years ago it was 26.
There are articles suggesting 10 years ago Trump was a legit 3 or 4 handicap, which would make him a very strong player, but I suspect even then he was bending the rules, taking generous gimmies that would cost him 3-5 strokes in strict games.
I occasionally play with a competitive college golfer who has a reverse handicap of +2, a guy like that can drive the ball 300 yards regularly. I doubt frail Joe can drive the ball 180 yards at this point.
Joyce: Well actually the Jews and Palestinian had been getting along in parts of Jerusalem, and there were various outreach groups on both sides to
Bring people together. That has ended after the latest violence in Israel / Gaza.
NoOne, a very good friend of mine moved very likely right next door to you about two months ago….if I didn’t want to remain somewhat discrete I’d connect you two….more than a few times based on your postings I was going to ask if you were, in fact, him…I’m still not convinced you aren’t lol
Fast, I’d love for one of those vaccination polling idiots to land on my doorstep…we have a very strict no solicitation policy in town….would be nirvana for me to turn on my phone and run the sniveling little liberal fcuk hard off my lawn and out of my neighborhood, calling the police on them of course, and post it up on social media for sh1ts and giggles.
O’Biden forgets the name of his HHS… LOL!!
https://twitter.com/tomselliott/status/1413572195771731971
Leftwing,
With some of the crazies on this board, I hesitate to even mention the town, forget about the address. That house for sale is about a 10 minute walk from mine. Anyway, the area is really nice. I plan to work remotely there in the cold months, and spend the summers in NJ. If your friend is in that part of town, good odds that he plays tennis, golf, or both, because that’s also walking distance. Or perhaps just boats. Is your friend retired or working remotely? I’m one of the youngest around the club there but more people are arriving in these homes in the 50-60 year old zone, enabled by either getting rich enough to retire early or by the widened remote work opportunity. I’ll be working another 15 years I think.
Grim can give you my contact info if you’d like to communicate directly.
https://www.wsj.com/articles/junk-bond-rally-pulls-yields-below-inflation-11625817833?mod=markets_lead_pos10
Price discovery is beyond mauled and dead….
40+ years ago a trader at a third rate firm based in a second tier city became the wealthiest man in America simply by noting the wide discrepancy between the worth of HY bonds (high) and the price (low).
Any bets on what will happen to collective wealth when the price of financial assets (high) come to reflect value (low)?
Buckle your seatbelts. Make sure your own are safe and secure….
Stratospheric asset prices inflated by debt at sub-zero real interest rates is not wealth…it is systemic risk. High systemic risk.
My handicap is ….golf. Seriously used to play a bit when my dad was alive, he was an avid golfer, he’d play 3 or 4 times a week, he had played a bunch with Trump in the 80s who he said was a very good golfer but also a very big cheater, I think trump would tell you he is a 2 handicap. If I was in the 80s it was a good round but it could honestly break 100 on occasion, it was also a good round if I didn’t hit any buildings, cars, or people.
NoOne, let’s keep that option open. He’s a great guy, CEO of a private company up here that will be sold in 18-24 months. With housing values what they are and the final kid moving out he sold family home in NJ, bought in your town down there, and took a condo up here. Commutes back and forth. Avid sportsman, I expect I’ll be visiting with him down there when it gets cooler. That may be an opportunity to connect. He’s first class. You’d like him.
Leftwing,
Let me know when you come to visit!
I just bought a Hunter O’Biden painting for a bargain price of $50,000! Say what you want about the guy but he’s no doubt a master when it comes to the canvas! This one is exquisite!
https://tinyurl.com/4ccwpfmw
one basic measure of any country: do they need walls to keep people out or keep them in?
Here we go.
https://youtu.be/ArOQF4kadHAA
Phoenix, what the heck was that? The lyrics of that were easily the most judgmental assuming pile of crap. Also, the first guy’s facial expression was just creepy. Moreover, I read a stat somewhere that said over 70% of republicans now support gay marriage. Democrats weren’t even that far along 25 years ago.
My first thought was this mayor might want to run for higher office, or could just be an old fart.
https://avalonboro.net/avalon-closing-beach-boardwalk-overnight-in-response-to-large-groups-unruly-behavior/
Plus, I thought the state of emergency was lifted – not sure what SOE the mayor was referencing.
https://www.nj.com/coronavirus/2021/06/gov-murphy-officially-ends-njs-covid-health-emergency-here-are-the-powers-he-loses-and-keeps.html
Phoenix
I’d rather watch this group
https://www.youtube.com/watch?v=3l5jwqPT2yk
The idea of a “California exodus” that has seen waves of residents abandon the state has been steadily gaining steam. But new research has revealed it appears to be more myth than reality.
Researchers from a consortium of universities – including the Berkeley, UCLA, Cornell and Stanford – teamed up in the fall of 2020 to study California’s population. Their finding, released this week, determined there was “no evidence of an abnormal increase in residents planning to move out of the state”.
The consortium assessed information from various sources to review whether there was an exodus. Data included public opinion and US census figures, home ownership rates, consumer credit histories and venture capital investments.
“Sliced and diced by geography, race, income and other demographic factors, our efforts have produced a clearer picture of who perceives California as the Golden state versus a failed state,” said John A Pérez, the University of California regent, in a statement on the research. “The empirical data will be, at once, disappointing to those who want to write California’s obituary, as well as a call to action for policymakers to address the challenges that have caused some to lose faith in the California dream.”
Discussion of the flight from California has often focused on the state’s high tax rate, its expensive housing and high cost of living, and quality-of-life concerns such as homelessness, particularly in more conservative circles. Elon Musk decamped to Texas in 2020, saying California was taking its status “for granted”.
But more than 3,000 Californians surveyed said at a nearly 2-to-1 margin that they thought the state was a great place to reside and raise a family. “The majority of Californians still believe in the ‘California dream’,” researchers said.
They did find that belief in the California dream was varied with demographics, economic status, and political affiliations. According to the researchers, Spanish speakers, Latinos, African Americans, Asian Americans and younger California residents were more “optimistic”. On the other hand, middle-class residents, white respondents, older Californians and Republicans were more “pessimistic”.
Researchers also found that the percentage of California residents who planned to leave had been “static” in the past two years. Twenty-three per cent of California voters said that they were seriously considering leaving the state, a slight dip from the 24% reporting this view in 2019.
The research did find that net departures from California’s Bay Area increased during the pandemic, especially in San Francisco. There, exits in the second through fourth quarters of 2020 were 31% higher compared with the same period of 2019, while new arrivals were 21% lower.
Phoenix, what the heck was that? The lyrics of that were easily the most judgmental assuming pile of crap.
I think that was exactly the point, and it was hilarious outrage bait. Pretty sure all of those outraged people didn’t even bother to listen to the lyrics (because I’m not sure why any of it would upset anyone, unless you are misconstruing the chorus). Again, this was exactly the point of it.
You think we’re sinful
You fight against our rights
You say we all lead live you can’t respect
But you’re just frightened
You think that we’ll corrupt your kids
If our agenda goes unchecked
Funny, just this once, you’re correct
We’ll convert your children
Reaching one and all
There’s really no escaping it
’cause even grandma likes Rupaul
And the world’s getting kinder
Gen Z’s gayer than Grindr
Learn to love
Learn to vogue
Face your fate!
We’ll convert your children
Someone’s gotta teach them not to hate
We’re coming for them
We’re coming for your children
We’re coming for them
We’re coming for them
We’re coming for your children
For your children
You’re children will care about
Fairness and justice for others
Your children will work to convert
All their sisters and brothers
Then, soon, we’re almost certain
You’re kids will start convertin’ you!
We’ll convert your children
Happens bit by bit
Quietly and subtlely
And you will barely notice it
You can keep them from disco
Warn about San Francisco
Make ’em wear pleated pants
We don’t care…
We’ll convert your children…
We’ll make them tolerant and fair
Just like you worriеd
They’ll change their group of friеnds
You won’t approve of where they go at night
(to protests)
Oh, and you’ll be disgusted
(so gross)
When they start finding things online
That you’ve kept far from their sight
(like information…)
Guess what?
You’ll still be alright!
The gay agenda is coming home
The gay agenda is here!
But you don’t have to worry
’cause there’s nothing wrong with
Standing by our side
Get on board in a hurry
Because the world always needs
A bit more pride
But you don’t have to worry
’cause there’s nothing wrong with
Standing by our side
(The Gay Agenda)
Get on board in a hurry
Because the world always needs
A bit more pride
(The Gay Agenda)
Come on, try a little pride!
We’ll convert your children
Then we’ll turn to you
Giving up the fear inside
Is freeing like you never knew!
The comments after the video are telling. Like when your dentist missed with that shot of local anesthesia and drilled right into the nerve.
A reactionary piece.
Some more humor, on the topic of golf, the earlier topic, from a scientific standpoint.
“A recent study found that the average golfer walks about 900 miles a year. Another study found that golfers drink, on average, 22 gallons of alcohol a year. This means that, on average, golfers get about 41 miles to the gallon!”
It’s the same bs applied to jersey. NJ is dying from the high taxes and high cost of living…blah blah blah. Yet, this state keeps on trucking.
Ez says:
July 10, 2021 at 1:35 am
Nj fake news is promoting what they view as the model male of the future. “Funny”
https://www.nj.com/news/2021/07/cleaning-fairy-went-to-the-wrong-nj-house-his-tiktok-rant-explains-hilarious-mixup.html
Economically the only thing that matters to the majority of voters is disposable income. It increased by record amounts under trump. We’ll see how it pans out under Biden but there are red flags emerging. Food and energy costs are going through the roof.
It increased by record amounts under trump.
The Trump tax cuts and deregulation fueled the economy like a rail on a drag strip. Covid was an anomaly and put everything on hold. O’Biden wants to raise taxes across the board to feed his p1gs. I doubt it happens.
They forgot, your children will grow up to assault a Hallal food cart worker at Washington Square Park
Personal responsibility starts with fiscal responsibility. We are in this mess bc people are told to watch 401k, avoid taxes and don’t worry about paying too much for a home, or even payments themselves. Too much focus on other circus sh$t. Ron Paul understood this. Since Bush, every president has used QE, bailouts and zero rate policy to pat themselves on back for strength of the economy. Americans have been stuffed with cheap debt, zero % financing, and direct stimulus payments. It has flown into asset bubbles which Fed will ensure never pops. Your Orange clown was worst of the sort, calling Fed the enemy (which they are but not for only his selfish reelection reasons) bc raising rates is death knell for this country. We all know it. The game is to avoid downturn during your term and catch upturn of printing. Trump caught it and now Biden is catching it. Sorry your theories on Trump’s genius are thrown out door. QE forever.
Goat,
Lots of churn developing by staff where I work. All levels from top to bottom. Many concerns like salary, work schedules, etc.
When prices go up, salary has to match. No pensions, no stability, easier to get a raise by negotiating at another institution. Some jammed up by contracts limiting employment by distance.
Controlling an employee that way is not a good tactic, it comes back to bite you in the future.
It all comes down to one word. Leverage.
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“They forgot, your children will grow up to assault a Hallal food cart worker at Washington Square Park”
Anyone’s kid is capable of that, just sayin’
It’s a crazy world now. 2 days ago:
https://nj1015.com/gunfire-erupts-after-road-rage-on-route-78-in-bedminster-nj/
Pollination robots could be coming to a farm near you.
Farmers have long relied on insects and human workers to help pollinate their crops. As artificial intelligence continues to advance, though, robots could eventually take over. Startups world-wide are testing robots to pollinate everything from almonds to blueberries. The robots have the potential to increase yields compared with bees or human workers, and could become essential as scientists grow concerned about declining insect populations due to habitat loss, pesticide use and climate change. At Costa Group Holdings in Australia, robots developed by Israel-based Arugga AI Farming, which cost about $10,000 each, will soon pollinate its tomato crops after a successful trial run. Typically, greenhouse tomato farms use bumblebees to help with pollination, but in Australia there are no bumblebees in most of the country and imports are banned due to biosecurity laws, making the robots the next best option after manual human pollination. The robot insects are equipped with cameras and use AI to identify flowers ready for pollination before blasting air at them to start the process. Tomato crops are ideal for robotic pollination because they can pollinate themselves once vibrations shake the pollen loose. In the U.S., where some growers are concerned about a virus affecting tomato plants that could be spread by bumblebees, robots from Arugga are also being tested by companies like AppHarvest, which grows greenhouse tomatoes in Kentucky. AppHarvest’s Chief Technology Officer Josh Lessing said the robots beat manual pollination and were getting competitive with actual bees. “Bees work pretty well, but in agriculture, every boost that you can get your hands on is a big deal,” he said.
Why some job openings aren’t being filled.
As of May, about 9.3 million people in the U.S. said they wanted a job but couldn’t find one. Meanwhile a record high 9.2 million jobs were open. So, what gives? Economists call it a “mismatch,” or a disconnect between the jobs and those looking for work. Many people who relocated during the pandemic now live where jobs aren’t available. Others, having discovered the benefits of life with no commute or who now have new aspirations, have changed their preferences and are looking for a different type of work.
The economy has also shifted, creating demand for workers in places like warehouses in areas where there might not be enough potential employees. Amid all of those changes, federal unemployment benefits could have allowed some workers to be more choosy in making their next move. The accommodation and food service industry, for example, has the highest rate of available jobs. But a recent ZipRecruiter survey of those who last worked in leisure and hospitality—a broader category of service industry jobs—found that 70% of workers are seeking work in a new industry. That same survey found 55% of job applicants are looking for remote work. An April survey from the Federal Reserve Bank of Dallas had similar findings, showing that nearly 31% of workers didn’t want their old jobs back, up from about 20% last July.
If the labor-market recovery continues to be uneven, it could create inflationary pressures that lead to the Fed policy makers to pull back on the low-interest-rate policies meant to support growth. There is concern, though, among some Fed officials that monetary policy alone can’t solve the problem, similar to the 2008-09 recession when a “skills mismatch” made it hard for unemployed real-estate or construction workers to find new jobs in growing industries. “Policy makers should be cognizant of a range of supply factors that may currently be weighing on employment,” Dallas Fed President Robert Kaplan said in a research report on mismatch recently. “These factors may not be particularly susceptible to monetary policy.”
Phoenix, I was referring to this.
https://nypost.com/2021/06/28/vendors-recall-attack-by-washington-square-park-mob/
Robotic bees.
Now even the bees will be unemployed.
Someone please launch an EMP weapon already.
BRT,
Any group, any individual is capable of violence. It’s part of being human.
I knew the story. I work with lots of gay people. Some are real sphincters.
But most are very talented and nice to work with. Just like any other group of people.
Many people are tied to their work due to benefits.
Universal healthcare would disrupt businesses to no end, both positively and negatively.
Imagine not having to stay at a certain job just for the benefits, or even in that lousy marriage…
Looks like God pays his employees pretty well.
NJ Catholic Diocese Sells Sprawling Luxury Home Of Former Archbishop For Less Than $1M (PHOTOS)
The 7,300-square-foot home at 51 Lower Kingtown Road in Pittstown (Hunterdon County) sits on more than eight acres of land and features many luxury amenities, according to the real estate listing (click here for photos).
Those include two elevators, a heated outdoor pool, an indoor exercise pool, four fireplaces, a central vacuum and more.
Phoenix, that is true. But only a few groups are able to be violent while preaching love, tolerance, and acceptance. But seriously, why is that violence directed at the guy selling shish kabobs? The whole movement has taken a screwy turn.
BRT,
All movements take scary turns when they gain power. Feminism for example.
They go from trying to be equals or disadvantaged into becoming totally dominant, never interested in stopping at the 50 yard line.
But then again, who in America is really interested in equal at all?
It’s a take what you can get at all costs type of country.
Robotic bees? Black mirror – Hated in the Nation episode..absolutely riveting take on that subject. Might be best episode they did.
https://www.nj.com/essex/2021/06/the-1-million-gamble.html
“After a concerted effort, the home attracted six offers and sold in the ballpark of 20% over asking, she says. The market feels like it’s correcting, Owens tells me. It almost feels like it’s back to normal.”
Whoa. Houses going 20% over asking counts as a correction? I thought a correction was when prices declined, not blew through high expectations. Damn, NJ homebuyers have made tons of $$$. So much cash inside NJ pockets it is getting ridiculous. Lots of money here in this state.
Spectacular wealth getting built up by NJ homeowners.
Yo: It’s only money if they sell it, a lot easier to sell stocks then a house.
“The stately home — Owens told clients the annual property taxes are $20,505, and they didn’t even blink”
I would not be blinking either. I would be too shocked, with my mouth open as I quickly exited the property. Another sign that the implosion is coming hard..this will be worse than 2006-2007 buyers. They will be trapped forever or selling a crushing loss. Deck of cards by Fed is being stacked higher and higher.
Fought my taxes and will be paying $500 less than last year, about $9,100. If I did not fight, I would be paying $10,600. I feel like this is still insane amount. I don’t get the badge of honor attitude. $20k is pure theft. This house sold for 510K during bubble (2004), for Christs sake. In late 2014, I paid 16% under Q4 2004 sales price on my current home.
Bystander: That’s what I have been saying , it will be worse than 2006/07
Love your posts…lmao
Phoenix says:
July 10, 2021 at 11:43 am
Robotic bees.
Now even the bees will be unemployed.
Someone please launch an EMP weapon already.
True story. Lol
I wonder what kind of impact all this jumping around by employees would have on productivity and innovation.
Phoenix says:
July 10, 2021 at 11:49 am
Many people are tied to their work due to benefits.
Universal healthcare would disrupt businesses to no end, both positively and negatively.
Imagine not having to stay at a certain job just for the benefits, or even in that lousy marriage…
It simply blows my mind how much wealth is in this state. Completely blows my mind. What’s crazy…most people don’t even realize it.
Yo! says:
July 10, 2021 at 3:16 pm
https://www.nj.com/essex/2021/06/the-1-million-gamble.html
“After a concerted effort, the home attracted six offers and sold in the ballpark of 20% over asking, she says. The market feels like it’s correcting, Owens tells me. It almost feels like it’s back to normal.”
Whoa. Houses going 20% over asking counts as a correction? I thought a correction was when prices declined, not blew through high expectations. Damn, NJ homebuyers have made tons of $$$. So much cash inside NJ pockets it is getting ridiculous. Lots of money here in this state.
Spectacular wealth getting built up by NJ homeowners.
That article points out what I was talking about…when chi called it cherry picking.
Everyone and their mother thinks it’s a bubble and the price will correct shortly. These people just don’t understand supply and demand. Mark my words. You will see it peak for now, but by next year it will be taking off when people realize prices aren’t coming down and the reality hits them that it is only going up. Then the herd will run again.
I remember you guys laughing 7 or 8 years ago when I said my house would get to a million by end of 2020’s in the next real estate leg up. Looks like it’s going to happen.
Did the home buyer or home seller make money in that transaction? I don’t have access to read that article. Is the seller and their wealth still in NJ?
Yo! says:
July 10, 2021 at 3:16 pm
https://www.nj.com/essex/2021/06/the-1-million-gamble.html
“After a concerted effort, the home attracted six offers and sold in the ballpark of 20% over asking, she says. The market feels like it’s correcting, Owens tells me. It almost feels like it’s back to normal.”
Whoa. Houses going 20% over asking counts as a correction? I thought a correction was when prices declined, not blew through high expectations. Damn, NJ homebuyers have made tons of $$$. So much cash inside NJ pockets it is getting ridiculous. Lots of money here in this state.
Spectacular wealth getting built up by NJ homeowners.
Wannabe,
What difference does it make…the people replacing them have more.
Low PE stocks from one year ago that have been the biggest winners might be in a bubble. People don’t want to consider Value Stocks being the bubble but most have one thing in common. Low Growth.
Pumps – re: “the people replacing them have more”
More loans and leverage more more more.
Please that house is what “perfect living room” lol. Maybe in 1930 when you needed to get close to hear the radio. Try a 75 inch tv in that room.
The Trump economy was simply a continuation of the Obama legacy.
Pure and simple. His tax cuts did nothing but allow fat cats corporate stock buy backs.
The Pandemic just exposed Trump’s complete lack of leadership and candor.
Low PE stocks from one year ago that have been the biggest winners might be in a bubble. People don’t want to consider Value Stocks being the bubble but most have one thing in common. Low Growth.
The other thing they have in common is having actual earnings.
Phoenix, the video you posted the other day of the choir, apparently 3 of them are convicted pedophiles in California.
BRT,
I believe it. And I would bet you could find 3 pedophiles in every school district as well.
Females as well.
Karen of the morning.
https://www.reddit.com/r/PublicFreakout/comments/ohu9b8/racist_safarihat_lady_goes_on_another_antiasian/?utm_source=share&utm_medium=web2x&context=3
Oblammy didn’t have a legacy. He was handed a clean economic slate and managed zero growth. It’s like running a sprint with no other competitors and you pull up lame like a washed-up thoroughbred. His legacy is a patchwork of nothing executive actions, designed to appease his simple-minded followers as is the foundation of his do-nothing party. He’s fragile and is showed as witnessed by his red line in the sand which was in reality, a pink line. He tried to build a party-line mantra that dissolved the minute he turned his head. He’s a weak leader as proven by the thousands of seats lost in state legislatures, governors’ mansions and Congress during his time in office. He was elected in 2008 and his fate was sealed in 2010. His legacy was to divide and blame instead of unite and conquer. When it was time to belly up to the bar, he left.
Oblammy let the bankers walk.
I would have as well. A long walk, a short pier, and 50k starving sharks.
Then I would have enjoyed a beer, and took a leak at the site where it happened.
https://www.nj.com/opinion/2021/07/withdrawing-from-afghanistan-is-a-tragic-and-historic-mistake-opinion.html
If you haven’t seen it pretty amazing….best video starts about -26:00.
http://www.virgingalactic.com/
Fcuk every piece of shit politician of both parties…this is what makes me proud. Even if done by an Englishman :)
Leaving the middle east is the best thing we could ever do for our own foreign policy. Our domestic fossil fuels industry that we built over the last decade was a great step in making that an easy decision. Instead, we are now talking about dismantling that industry.
ACA really screwed with everyone’s health insurance. My health insurance changed about 6 times since ACA. Moreover, he created a class of people that were destined to taking part time jobs as many employers didn’t want to commit to providing health insurance. In the school system, it created a pickle for us because our subs had to be reduced down to 3 days a week. It created a statewide sub shortage.
Republicant says:
July 11, 2021 at 12:14 am
“The Pandemic just exposed Trump’s complete lack of leadership…”
Yet another Dem stooge. This is what a guy who enjoys being governed by the AOC’s and Lori Lightfoot’s of the world considers lack of leadership…
T’s being among the first, if not the first, world leader to suspend travel to/from Wuhan region (despite being called racist by the useless Dems and their media lackeys)
T’s calling out the WHO for being useless and corrupt, and insisting on an honest and thorough investigation of COVID origin, nearly a year before dopes like Biden realized he was right.
T’s launch of Operation Warp Speed which led to three successful COVID vaccines within 12 months, and has made the US reopening the envy of the world.
“Females as well.”
https://ifunny.co/picture/HgPh2cSk8
:)
ACA saved red state as#es during Covid..like Oklahoma who refused to take Medicaid money bc such patriots against soc*alism (cue the tears). Hypocrite party that won’t do a damn thing to help healthcare issue. ACA was flawed but one party had to do it alone. Unity? With the party of racist bitters led by Orange maniac..f em.
birthers, of course
Dedicated to No One
https://mobile.twitter.com/asoftstar/status/1414041774733987840?s=21
Bystander says:
July 11, 2021 at 1:01 pm
“…Unity? With the party of racist birthers…”
Haha! The ultimate Dem stooge screeching out lies about Reps being racists, but never has anything to say about true racists — like these Dems…
https://www.fox32chicago.com/news/lightfoot-slammed-by-member-of-us-commission-on-civil-rights-for-immoral-race-based-interview-policy
https://www.msn.com/en-us/news/politics/media-overwhelmingly-silent-on-hunter-bidens-n-word-text-message-scandal/ar-AAKX3du
https://www.cnn.com/2019/02/01/politics/northam-blackface-photo/index.html
We have been 20 years in Afghanistan, how long are we supposed to stay there? Permanently. Young Americans died there for absolutely nothing. And the pathetic Afghan army is surrendering and running away. People think we are making a mistake leaving? Let’s reinstate the draft, and see what kind of enthusiasm there is for getting involved in these hell holes.
Not quick enough apparently Small given 620k deaths. If only they were a Muslim country then travel would have been banned so much quicker by the racist raccoon face. A one term loser..
Bystander says:
July 11, 2021 at 1:01 pm
“…Unity? With the party of racist birthers…”
Haha! The ultimate Dem stooge screeching about Reps being racists, but never has anything to say about true racists — like these Dems…
https://www.fox32chicago.com/news/lightfoot-slammed-by-member-of-us-commission-on-civil-rights-for-immoral-race-based-interview-policy
https://www.blackenterprise.com/laptop-exposes-president-bidens-son-hunter-repeatedly-using-the-n-word-in-text-messages-with-white-lawyer/
You fundamentally misunderstand my opinions.
I don’t think in binary outcomes, yes/no, right/wrong.
The set of outcomes is a continuum, and based on analysis, a percentage likelihood can be assigned. If you are familiar with defensive shifting in baseball and spray-charts, it is probably ripped off from statistical analysis originally developed for science, and then applied to finance.
So when I disagree with you, I am stating that you are making bad and low percentage bets. Your outcome may materialize, but for the amount of risk you are taking, you are being sorely underpaid.
Are you familiar with Adam Neuman? He thought that he would be the first trillionaire.
As for you? It must be liberating to exist without concern for knowledge, history and any perception of analytics. Just a mosquito buzzing around looking for blood and pools of stagnant water. Except what you suck to digest, and metabolize to dust, is our collective IQ’s.
The Great Pumpkin says:
July 10, 2021 at 7:21 pm
That article points out what I was talking about…when chi called it cherry picking.
Everyone and their mother thinks it’s a bubble and the price will correct shortly. These people just don’t understand supply and demand. Mark my words. You will see it peak for now, but by next year it will be taking off when people realize prices aren’t coming down and the reality hits them that it is only going up. Then the herd will run again.
I remember you guys laughing 7 or 8 years ago when I said my house would get to a million by end of 2020’s in the next real estate leg up. Looks like it’s going to happen.
So ill-informed that it might cause simultaneous evacuation of my stomach, sinuses, eustachian tubes, bladder and colon.
The Great Pumpkin says:
July 10, 2021 at 9:39 pm
Low PE stocks from one year ago that have been the biggest winners might be in a bubble. People don’t want to consider Value Stocks being the bubble but most have one thing in common. Low Growth.
Don’t overstate it. We had to go in there originally and track down OBL as well as hit back at al-Qaida.
3b says:
July 11, 2021 at 1:21 pm
Young Americans died there for absolutely nothing.
Even if done by an Englishman :)
Burt Rutan and Scaled Composites are distinctly American… :). If there are any questions about that, just ask his sideburns.
This is essentially the evolution of system they won the X-Prize with.
At least she is clear about her policy vs. true system based racism that has far bigger impacts:
Trump’s 87 picks to be federal judges are 92% white with just one black and one Hispanic nominee
I understand human psychology, market psychology, and market dynamics. What I state below is what is going to happen. People like you get too deep into it, trying to prove how smart you are, when just pay attention to the simple aspects that matter. I’ve said this like 2 months ago, and it’s already happening. Everyone is getting cold feet and think it’s going to drop or become easier to buy next year. I wish them all luck and honestly hope I’m wrong. Based on record here in calling the real estate market over and over again, I would not bet against my position on this.
If you need a home in the next 3 years, do not wait, or you might very well get priced out. I might not be correct, it happens, but based on my track record…good luck if you wait.
“Everyone and their mother thinks it’s a bubble and the price will correct shortly. These people just don’t understand supply and demand. Mark my words. You will see it peak for now, but by next year it will be taking off when people realize prices aren’t coming down and the reality hits them that it is only going up. Then the herd will run again.”
Chgo: Agreed. But it did not take 20 years, and we got Osama in Pakistan. If the Chinese want to get involved in the quagmire of Afghanistan let them. The Russians won’t it bled them dry back in the 80s.
Where has 30 year realtor been? As 3b says, he’s the expert. Well, he was wrong about NYC and I was correct. I knew the amount of hate in the headlines for NYC stating it was dead was an easy buy “when there is blood in the streets.” You could have bought for a nice discount off some scared hands.
I’m not saying I’m an expert/smart, but I’m pretty good at reading the market for whatever reason. My mind just puts the pieces together. You have witnessed it over and over on this blog.
What color is the sky in your world?
Pickford is so annoying. If I was an English defender, I would wear earplugs.
Bystander says:
July 11, 2021 at 2:37 pm
“At least she [Lightfoot] is clear about her [racist] policy…”
A new low for you. It’s one thing to be a stooge and regularly apologize for Dem malfeasance, but I didn’t think even you would excuse the Dem mayor of Chicago’s overtly racist policy just because “she’s clear about it”. Guess I was wrong. Pathetic.
And just to set the record straight, T’s judicial nominees were almost unanimously outstanding. Another of his many accomplishments.
I still remember how hard Romney twisted my arm to vote for Obama. Twisted so hard I would have gotten a spiral fx if I didn’t.
Grandiosity.
It ain’t going home!! Congrats Italy 🇮🇹!!
Yes, its the worst racism I’ve ever heard, SmallProjector. Projecting small issues like they are huge moral equivalencies. Comparing this to asking first black president to prove they are not a Muslim from Kenya. Who do you think experienced more racism in their lives – that sad day white reporters could not attend interview..or Lightfoot herself. Keep projecting mushroom dik’s great accomplishments. Maybe sew them into your little Orange pillow. One term loser..wonder if Carter had a band of dolts that projected his greatness after failing re-election. Sad to cling to it, really
Tell me you have a low IQ without telling me
you have a low IQ…..
“I went to CPAC…”
This money week article written by my clone?
“Prepare for a five-year property and stockmarket boom
An 18-year cycle based on land and housing drives economies and markets, says Akhil Patel. We are coming out of a mid-cycle dip and entering the final multi-year upswing, which will peak in 2026”
“In June 2014 I wrote an article in this magazine (moneyweek.com/503173/boom-times-are-here-again) that made several forecasts. I claimed we were in the early stages of a cyclical economic expansion, which, following a short mid-cycle recession, would take us into a major boom in the 2020s. I forecast that this mid-cycle recession would occur at the end of the 2010s, but that the economy would quickly shrug it off and spring forward into the new decade. I said the boom would be global, leading to more wealth creation in this period than in any other in human history. So confident was I in this prediction that I declared that the FTSE 100, then still below the level it traded at the start of 2000, would go above 12,000 by the time the boom was over. And I said that the peak of the cycle would arrive around 2026.
Seven years on, the world has thrown some incredible events at my predictions. So, have I changed my views in light of all that has gone on? No. Because nothing has happened in the last seven years that has altered the underlying economic structure. Events, though significant, take place on the surface. But it takes much more to stop the tectonic forces that drive our economies through cycles of boom and bust.
A 200-year pattern
In my earlier article I laid out the full economic cycle that has operated for over 200 years in the UK and the USA and, more recently, in other countries. In summary, each cycle lasts, on average, with very little variation, 18 years, consisting of approximately 14 years of expansion and then boom, followed by four years of contraction and bust. An illustration of the cycle is laid out below, together with the key dates for each of the cycles since 1945.”
https://apple.news/AgdJj3Sa2TpuhyCKzL4FjNw
What have I been saying?
“By 2022 the recovery out of the mid-cycle recession will be apparent to all. Over the past few months, property prices have risen sharply in many countries as pent up demand for new housing (assisted by savings built up during the lockdowns) has been unleashed and people have taken advantage of support schemes put in place last year. As they end, the rapid growth seen recently will ease off, but growth will continue. So now is as good a time to buy as any in the next few years. Prices are not going to get cheaper. Similarly, the stockmarket rides the cycle up through to its peak, albeit not in a straight line. The second half of the cycle sees strong performance from the shares of firms positioned to take advantage of the land boom – housebuilders, construction groups and banks, for example. During a major land boom demand for raw materials also goes up and so those involved in extracting or processing natural resources flourish too.”
Like I have said since 2012/13 on this blog. The run up should peak and then bust second half of 2020’s.
“The mania phase should begin around 2024. The final two years of a cycle are a heady and dangerous time for investors”
Typically worse during evenings and especially weekends. Some sort of more intense psychotic break.
Lithium. It’s not just for batteries.
And Gary, you’re calling for me to leave this country? MKay!
“Fcuk every piece of shit politician of both parties…this is what makes me proud. Even if done by an Englishman :)”
“They, and I, for the first time ever want an American Administration to fail horribly. To fall flat on its face. To implode on the international stage.”