Hottest Markets

From the US News & World Report:

The Hottest Housing Markets in the U.S.

Now that the demand for housing is showing renewed signs of life amid lower mortgage ratesdeclining inflation and a reduced risk of recession, it’s certainly an opportune time to analyze which markets are the hottest across the country. While the term “hottest” may no longer mean desperate buyers bidding thousands over asking prices and waiving inspections, it does mean returning to the basics of healthy demand, supply and financing options.

With regional Housing Market Index totals ranging up to 71.7 versus a national value of 64.4, the following six MSAs are the hottest housing markets ranked from first to fifth, with the third highest a tie between Austin and Durham:

  • Raleigh: 71.7
  • Denver: 67.5
  • (Tie) Austin: 67.3
  • (Tie) Durham: 67.3
  • Phoenix: 66.9
  • Richmond: 66.8

Besides benefitting from huge amounts of interest due to the combination of record-low mortgage rates and the desire for more living space during the COVID-19 pandemic, these markets have managed to hold onto their popularity even as workers have returned to offices and lending rates have trended up. Each MSA also offers the lure of big-city amenities without the disadvantages of the largest cities such as New YorkLos Angeles or Chicago.

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

173 Responses to Hottest Markets

  1. dentss dunnigan says:

    first

  2. Chicago says:

    jj lives:

    Woman accused in Green Bay dismemberment case

    The Wisconsin woman accused of decapitating her lover during a wild meth-fueled escapade last year randomly attacked her own lawyer in the courtroom Tuesday — striking him in the head.

    Taylor Schabusiness, 25, lunged at defense attorney Quinn Jolly after the judge in the gruesome murder case suggested pushing the trial back two months.

    Shocking video of the spontaneous and violent outburst shows Schabusiness calmly sitting in the Green Bay courtroom as Judge Thomas J. Walsh recommends starting the murder trial on May 15 instead of March 6 — a suggestion he made at Jolly’s request.

    Seemingly angered by the decision, the accused killer flings herself at the attorney, who was sitting beside her — striking him with her elbows and handcuffed wrists.

    Taylor Schabusiness attacked her defense lawyer in court Tuesday.

    A security guard then quickly tackles Schabusiness to the ground, the chaotic clip shows.

    At one point, the guard’s toolbelt becomes wrapped around Schabusiness’ toes, which were exposed after she lost her shoes in the tussle.

    After several minutes, two other guards eventually help pin Schabusiness down until she is calm.

    The bizarre blowup came after Jolly asked Walsh for an extension in order to prove his client was not competent to stand trail for the February 2022 grisly murder of 25-year-old Shad Thyrion, Law and Crime reported.

    Schabusiness allegedly decapitated Thyrion during sex, continued to perform sexual acts on his lifeless body and mutilated his corpse with a serrated bread knife.

    Schabusiness allegedly told cops she had enjoyed choking Shad Thyrion.
    Green Bay Police
    She then stuffed his severed head and penis in a bucket and other body parts in a crock pot, leaving them for his mother to find, prosecutors claim.

    The woman — who is married to another man — was found by police at home covered in blood, records show.

    She reportedly told cops they would “have fun trying to find all of the organs.”

    Schabusiness plead not guilty by reason of mental disease or defect but reportedly admitted to cops that she went “crazy” during the deadly romp.

    She told detectives she and Thyrion had been smoking methamphetamine before going to his mother’s house to have sex using chains.

    She also said she didn’t intend on killing him, though reportedly admitted she sat on the victim and “waited for him to die” as he coughed up blood.

    “Ya, I liked it,” Schabusiness said about choking

    Jolly had told the judge he needed more time for a defense expert to review the case and testify as to his client’s competency.

    A court-appointed doctor found Schabusiness competent to stand trial last year, but the defense attorney pushed back against the diagnosis.

    Jolly said Schabusiness was previously diagnosed with bipolar disorder and has received mental health treatment since she was a 7th grader.

    Schabusiness faces charges of first-degree intentional homicide, mutilating a corpse and third-degree sexual assault.

  3. The Great Pumpkin says:

    Demographics. Wealthiest demographic bloc-boomers. They slowly took over the Florida coasts over the last 10 years.

    Libturd says:
    February 14, 2023 at 10:26 pm
    America’s Priciest Neighborhoods Are Changing as the Ultra-Rich Move to Florida

    https://www.bloomberg.com/news/articles/2023-02-14/the-most-expensive-neighborhoods-in-the-us-from-florida-to-new-york?

  4. The Great Pumpkin says:

    This list looks the result of a combination of boomers and millennials that were looking for value and drove these markets up. None of these locations are a value anymore.

    “With regional Housing Market Index totals ranging up to 71.7 versus a national value of 64.4, the following six MSAs are the hottest housing markets ranked from first to fifth, with the third highest a tie between Austin and Durham:

    Raleigh: 71.7
    Denver: 67.5
    (Tie) Austin: 67.3
    (Tie) Durham: 67.3
    Phoenix: 66.9
    Richmond: 66.8”

  5. Chicago says:

    Inversion 89

  6. leftwing says:

    Retail numbers hot…FFR futures closed the year end gap…market and Fed in total agreement on the year end rate.

    So inflation a bit heavy yesterday, sales heavy today, rate curve further out increasing, yet everyone forecasting Q1/Q2 GDP growth less than 1%.

    I’m basically flat except for my boxed SPY and META, long GOOG, and a bunch of opportunistic shorts…did no earnings plays this season, and for the first time now I have zero idea where we are going nearer term…sitting with my ‘into this year’ strategy of my boxed 10% or gains and on my hands otherwise…as I said previously I’m willing to sit out an increase to 4400 and re-evaluate then, or buy the dip. Will note my dip buy/worse case scenarios keep marching up, I’d come in now around 3800 but as of today by way of writes/option structures that would give me breakevens beneath that number. Otherwise, clipping my Uncle Sam coupons….

  7. Chicago says:

    Left: the job market is strong; the Fed is going to have to put the hammer down. I am mystified by rich multiples.

  8. Chicago says:

    5’s starting to creep into the front of the Treasury curve. Getting close to summer 2024.

  9. Chicago says:

    Bianco pointing out base effects benefit rising inflation start in June. So eat that shit sandwich you hockey ho’.

  10. leftwing says:

    “Left: the job market is strong; the Fed is going to have to put the hammer down. I am mystified by rich multiples.”

    Market can stay irrational longer than….I keep having these flashbacks of Greenspan’s infamous ‘irrational exuberance’ speech…three years before valuations peaked with the internet bubble.

    I’m bothered by earnings being so flat…in an ironic way, had they taken off I’d feel better not only jumping in but even shorting. Doing some action. Right now a year of sideways earnings movement with a forward year forecast of ‘up’ gets you flying…and forward earnings come into play by June of any year….So any action between now and June (or at least by June reporting) is a crapshoot on 2024 forecasts and my feeling is that there is little to no analysis of those forecasts…it seems everyone took their well researched 2023 earnings of 225-230 and simply said ‘fuck it, up ten’ to get to 250 in ’24. Not something I want to step in front of with size.

    “Bianco pointing out base effects benefit rising inflation start in June. So eat that shit sandwich you hockey ho’.”

    Ha! LOL. There’s a really good piece by Bespoke on base effect with a nice monthly colored charts going forward…was going to post it yesterday, couldn’t find a good public link summary and they’re kind of crazy about their subscription material…

  11. leftwing says:

    This is it, link seems email-able so I’ll post here. Hopefully you can get in.

    https://www.bespokepremium.com/interactive/posts/chart-of-the-day/chart-of-the-day-cpi-progress-continues

  12. Chicago says:

    Just saying Jan numbers suggest consumer spent insane amounts of coin. You tell me what is happening?

  13. Chicago says:

    Nope.
    This was Bespoke’s response.
    https://m.youtube.com/watch?v=ds3v8O_MrM0

  14. Chicago says:

    Blow out spending on cars.

  15. Chicago says:

    Food services and bars. Spending up 7.2% in January

  16. Chicago says:

    Very discretionary spending

  17. 3b says:

    Brookfield has defaulted on loans totaling 748 million on 2 Office towers in downtown Los Angeles.

  18. Bystander says:

    Chi,

    I think we crossed the rubicon of bailouts. Wall Street and businesses got trillions, Americans got billions. We are seeing battle for SL bailouts. Why would Americans not put it all on credit card or get that new ride? Uncle Sam will come to assist. That is the Fed legacy since 2008.

  19. Libturd says:

    Saw the retail paint this morning. People are becoming more budget minded and waited until after Xmas this year to buy. I think it’s really that simple.

    As to predicting what happens when the market is defying logic. I’m having a nice little run here that should could continue most likely until next quarter’s earnings, as previously outlines as a possibility. If we keep melting upwards, I will take some powder out of the market again. It’s truly a battle right now between good looking TA and mediocre at best looking FA. I expect to fall back to 50/50 in the coming weeks and perhaps go all the way back to 30/70 with the recession looming.

    I don’t see no shorts Leftwing. Have a couple of undervalued tech stocks in the chamber, but Naz has been running so now, not the time to go long on them. Skyworks for example. Especially later this year when the Apple iPhone replacement cycle will be huge as no one bothered last year amid its lack of improvements.

    I’m reading mumblings of the FED just leaving the interest rate where it is and letting the market run a little to try to tweak the economy out of a recession. Oh boy would that be stupid.

  20. Bystander says:

    3b,

    Coming to a Vornado near you..

  21. Libturd says:

    “Coming to a Vornado near you..”

    You would think, but it never seems to actually happen.

  22. Bystander says:

    Lib,

    Smoke is starting.

    “Vornado Realty Trust’s Joint Venture Defaulted on a $450M Loan. What It Means for the Stock.”

    “Developer Vornado Realty Trust, pinched by rising interest rates and continued sluggish demand for commercial real estate, says it won’t be developing much new in the near future.”

  23. 3b says:

    Bystander: I thought I saw something a few months ago about Vornado scrapping plans for redevelopment projects around Penn Station.

  24. Ex says:

    Buddy of mine left WO for Miami.
    Closing on a $2m condo. Same tax bill. $23k

    Ooof

  25. The Great Pumpkin says:

    If you are a so called “value investor,” you should be buying Vornado. Rising rate environment is coming to an end. They hold top of the line real estate. Even if they dissolve the company and sell off the pieces, you won’t lose.

    Market is irrational, you should know this by now…that’s how you make money in stocks. Buy when there is blood in streets (offices are dead…trend is already turning and door will be closing)that causes the market to undervalue. Of course, most people are unable to do this, as they are always worried that the sky is falling. They can never take advantage of a good deal.

    “Vornado Realty is now ranked among the top 25 undervalued stocks included in the Dow Jones Composite Index. A stock is considered undervalued if it trades at a discount to its valuation – a calculation used to determine the intrinsic (true) worth of a company. Valuation methodology provided by Stockcalc (see below).”

    https://www.theglobeandmail.com/investing/markets/stocks/VNO-N/pressreleases/12803389/vornado-realty-top-25-undervalued-dow-jones-composite-index-stocks-vno/

  26. Ex says:

    10:52 sorry dude. Sounds really risky.

  27. Fast Eddie says:

    “Developer Vornado Realty Trust, pinched by rising interest rates and continued sluggish demand for commercial real estate, says it won’t be developing much new in the near future.”

    Just the opposite in residential. I see condos/apartments going up EVERYWHERE. It’s like an epidemic. Tracts of land are being bulldozed, old dwellings are being flattened for new construction. I took the train in to Hoboken today, cranes everywhere. Same holds true for 2 and 3 story structures in the ‘burbs, pods going up everywhere. It’s insane.

  28. The Great Pumpkin says:

    Risky? Right, that land is worthless. Easy buy if you aren’t looking for high growth/high risk. The tide will turn.

    Ex says:
    February 15, 2023 at 10:55 am
    10:52 sorry dude. Sounds really risky.

  29. RentL0rd says:

    The US needs 500,000 construction workers – just to fulfill existing demand https://www.linkedin.com/news/story/us-needs-500k-construction-workers-6168162/

    My neighbor’s extension project was expected to be complete last fall. All we see is big holes and caution tape all over. Not a worker in sight all year. He told me the contractor said he’s waiting for warm weather! It’s a mess.

  30. Fast Eddie says:

    It’s said to see this office so empty. Everyone I talk to says the same. The WFH model is going to be harmful in the long run. We’re turning into a society of loners and introverts.

  31. Bystander says:

    Ed,

    That is exactly my thought. Back in 2008, you saw development stop mid-stream.. Structures standing unfinished, land excavated but unfilled for years. Prime real estate by a main train area sat undeveloped, hotel plans scrapped in 2009. Remained same until 2020. For 2.5 years, the development has been non-stop. Housing units all around the entire station, with restaurants below. The Fed needs to stop developers if they want to combat inflation. The free money investment is still too strong.

  32. Fast Eddie says:

    Bystander,

    Who’s filling all of these empty dwelling pods? I thought the outflow from this area was greater than the inflow? If WFH is the model, why am I paying a higher rent/mortgage/HOA than if I move further away from the NYC radius? I thought the moving trucks were driving west and south?

    They plowed half of a golf course in the River Vale/Hillsdale area and put $million dollar price tags on the condos/townhouses. Say what? I wouldn’t drop that coin even if I had it. Who wants to be sandwiched in with a few hundred others for that price tag? That’s another discussion but this non-stop building opens the door to so many other questions.

  33. Phoenix says:

    Wouldn’t matter. NJ Judge would still give her custody of the child.

    You birthed it, it’s yours. NJ and you.

    Taylor Schabusiness, 25, lunged at defense attorney Quinn Jolly after the judge in the gruesome murder case suggested pushing the trial back two months.

  34. Phoenix says:

    You need to constantly text each other, overhead shots, pictures of you making silly faces, making fun of somebody, the food and drink on your table, your cereal bowl.

    You won’t be lonely. You just don’t know how to do it that’s all.

    The WFH model is going to be harmful in the long run. We’re turning into a society of loners and introverts.

  35. Phoenix says:

    The US needs 500,000 construction workers – just to fulfill existing demand

    General Secretary Trump, if you seek peace, if you seek prosperity for the the United States and Latin America , if you seek liberalization, if you need CHEAP LABOR come here to this gate.
    Mr. Trump, open this gate!
    Mr. Trump, tear down this wall!

  36. Phoenix says:

    The US needs 500,000 construction workers – just to fulfill existing demand

    Maybe we could get Mike Rowe to speak to the ladies about Dirty Jobs.

    Naah, they would confuse that with something else and have him arrested with an accusation by sundown.

  37. Phoenix says:

    Anyone surprised?

    A 47-year-old police detective from the Jersey Shore was required to sell handguns due to a restraining order, authorities said. And in 2022, Matthew Curtis signed paperwork saying he did, according to Ocean County Prosecutor Bradley D. Billhimer.

    But months later, when some of his guns were stolen out of his car in Little Egg Harbor, the Island Heights detective filed a police report saying that one of the firearms he had claimed he sold was among the items stolen, Billhimer said.

  38. 3b says:

    Fast: I would not make a broad statement that WFH, is turning people into loners and introverts. It depends on the person. There were people in the office who were liners and introverts and had little to no interaction with other employees.

    I don’t know about you, but when my kids were young, my spouse was able to stay home, and we lived comfortably on one salary. That’s not the case for most people today, tri salaries are required. Having both parents have to schlep into the city every day, deal with commutes, rush home to get to day care, feed the kids, bath , check homework bath and bed, zero quality of life. If WFH/ hybrid can make parents lives easier, and perhaps cut down on expenses, then it’s a good thing.

    It’s easy for old timers to bemoan the new reality, and want things back to the old way, but we simply did not have the issues and concerns that today s parents of young children have. Oh and then we want to encourage the younger people to have more kids to address the declining birth rate as well.

  39. Libturd says:

    Dude should’ve minded Schabusiness!

    Now his Jimmys in the crock pot.

  40. 3b says:

    Fast: A lot of apartment construction, is taking place on busy streets, that had small retail stores, that came and went, land more valuable to build apartments, single family houses, as most people won’t buy on a busy street.

    That said the traffic when they are all filled is going to be much worse than it already is. The apartment development in Emerson on Kinderkamack Rd, is massive and that stretch is narrow too; it will be a traffic nightmare.

  41. Ex says:

    The loner argument is rubbish. WFH works for many, many people.

  42. Bystander says:

    Ed,

    It really comes down to dual income. Gen X is the last generation who might be able to support single income household if invested wisely in housing over last decade. Me, my brother, numerous friends/co-workers all have (had) SAH mothers for long portion of child-raising years (0-10). These moms may have part time jobs but not going back to higher pay FT. I look around my neighborhood at the 30-something millennials with young kids and all career mothers. I also see alot of rich boomers who will now have home north and home south. The Fed made it so. I think housing prices will be driven by this demand going forward. It will be bumpy and separation from haves (high dual income, inheritance) vs have nots will get uglier and uglier in this country.

  43. Fast Eddie says:

    The cons outweigh the pros when WFH. Loneliness, isolation, lack of schedule structure, decreased collaboration, social restriction, greater chance of not being promoted, no company events… all outweigh the savings in commute and perceived flexibility. Even now, coming into the office, there’s hardly anyone present. The work/life balance model in it’s present state is not healthy. There’s no balance. The absence of human interaction is not good.

  44. The Great Pumpkin says:

    Ex,

    For a 40 or 50 something that switched to WFH after building a career in person, it’s a win. For someone starting out in their 20s or 30s, they are f’ed long-term from a health perspective. Way too much isolation. Have to understand that these guys never leave the house. They don’t even get laid.

  45. The Great Pumpkin says:

    Fast,

    These people live in a self-made jail cell called their apartment or house. It’s f’ing sad. You have to get out of the house and interact with people, or you are living in a jail cell. Hell, people in jail interact with people more than these people do…let that sink in.

  46. Ex says:

    I’d counter and say that WFH, if done right, can offer MORE time to workout. Run around the neighborhood. Go lift weights over lunch. If you have these habits, you will be in the zone and make them part of your lifestyle. Blaming WFH? I’d say NO.

    Lack of a schedule? If you are not a busy person, sure you might not have a schedule that’s filled with appointments. You might also feel like maybe you are not a player in your firm. Being a player means a lot more than “showing up” in an office.

  47. Bystander says:

    Ed,

    Next show on me. I’ll put you right into the heart of 10K person liberal euphoria

  48. Ex says:

    The California exodus has shown no sign of slowing down as the state’s population dropped by more than 500,000 people between April 2020 and July 2022, with the number of residents leaving surpassing those moving in by nearly 700,000.

    he population decrease was second only to New York, which lost about 15,000 more people than California, census data show.

    Yet somehow the traffic in these places is still nuuuuuts.

  49. The Great Pumpkin says:

    Is this working? This is the problem. Getting paid to do your chit, not the company’s.

    Let me go run around the neighborhood while I am at work…

    Ex says:
    February 15, 2023 at 12:50 pm
    I’d counter and say that WFH, if done right, can offer MORE time to workout. Run around the neighborhood. Go lift weights over lunch. If you have these habits, you will be in the zone and make them part of your lifestyle. Blaming WFH? I’d say NO.

  50. Fast Eddie says:

    Next show on me. I’ll put you right into the heart of 10K person liberal euphoria

    As long as we’re all groovin’ together, sounds like a plan!

  51. Ex says:

    12:54 read my statement again.

    Also note that WFH days start earlier & end later.

    No commute time.

  52. Fast Eddie says:

    I’d counter and say that WFH, if done right, can offer MORE time to….

    Nobody is disputing the pros. It’s the other side that is more destructive. I love the flexibility but I’m older than the workforce average age and it’s simply not healthy at the moment.

  53. Fast Eddie says:

    These people live in a self-made jail cell called their apartment or house.

    Generally, this is true.

  54. Fast Eddie says:

    Also note that WFH days start earlier & end later.

    That’s a negative, not a positive. I’m guilty of it myself. My day is a normal 10 hour day now as opposed to an 8.5 hour day before covid.

  55. Ex says:

    Be that as it may. Theoretically you’d be more productive.

  56. Ex says:

    I think it’s great that my gorgeous wife can actually enjoy the palatial home that she inhabits. Instead of just sleeping there.

  57. 3b says:

    Fast: I would say for working parents it’s healthier.

  58. 3b says:

    Fast: Are you including your commute time? I have no issue working until 7 at home, bs 7:00 in the office, and then the commute home.

  59. Phoenix says:

    Too much govt regulation, thanks to lazy govt workers, doesn’t work.

    Too little govt regulation, thanks to govt workers being too “buddy buddy” with govt regulators, doesn’t work either.

    Capitalism at it’s finest:

    The $4.5m-a-year CEO of Norfolk Southern – whose firm got Trump to REPEAL safety rule that might have averted East Palestine chemical crash – lives in $4.2M mansion, owns boat and property empire… as video shows dead fish poisoned by spill

  60. chicagofinance says:

    Top of the curve is 285 days at 504

  61. Phoenix says:

    Why was East Palestine ‘bomb train’ not stopped when fire broke out? Video shows flames from faulty bearing licking wheels 20 MILES before it derailed.

    Because the technology required to detect that costs money and Americans don’t like paying. Well, they do, for 500,000 missiles that blow up balloons.

  62. Phoenix says:

    Could you imagine if America brought manufacturing back to the USA?

    You would have a train crash a week, and in 7 months the whole country would be polluted like China is.

  63. Ex says:

    As parents We had a great time during lockdown.
    Also helped my kiddo sort through some work habit issues.
    Being close enough to monitor what she did and how was insightful.
    Everyone’s work habits were on display. Good times.

  64. Libturd says:

    I know. I caught my kid cheating early on. I put an end to that early on.

  65. Phoenix says:

    Guess the American Dream turned into the American Nightmare for them.

    Ask the govt for a bailout like the banks did.

    “American Dream lenders take legal action over missed payments”

  66. chicagofinance says:

    jj LIVES!!!!!
    Client submitted a W-2 from this business…… the took the PPP.
    https://www.sba.com/ppp-funded-companies/pennsylvania/wet-beaver-fitness-blue-bell-llc-4612403

  67. The Great Pumpkin says:

    This place keeps improving. I hope it survives.

    Libturd says:
    February 15, 2023 at 2:09 pm
    American Default

    https://www.nj.com/news/2023/02/american-dream-lenders-take-legal-action-over-missed-payments.html

  68. Phoenix says:

    Thanks, BOOmer

    U.S. on Track to Add $19 Trillion in New Debt Over 10 Years
    Congressional Budget Office projections released on Wednesday suggested rising interest rates and bipartisan spending bills are adding to deficits, amid a partisan fight on fiscal policy.

  69. joyce says:

    This would be like the fifth bailout for the American Dream. The answer is still the same as it ever was… allow bankruptcy to happen.

    Phoenix says:
    February 15, 2023 at 2:29 pm
    Guess the American Dream turned into the American Nightmare for them.

    Ask the govt for a bailout like the banks did.

    “American Dream lenders take legal action over missed payments”

  70. The Great Pumpkin says:

    That’s the thing, it could be a good thing.

    Problem is most people need to be pushed…they fail under these conditions. You have to be self motivated at all aspects of life to succeed in a remote setting. There is a reason remote schooling doesn’t work…you have people that can’t even succeed with in-person learning due to lack of motivation, what do you think happens to these people under a remote self driven environment? Then you have to pay for all the costs that come with the damage being caused by these people isolating themselves down the road (not all people have a nuclear family at home). It’s a mess. A lot of broken people out there now.

    Ex says:
    February 15, 2023 at 2:25 pm
    As parents We had a great time during lockdown.
    Also helped my kiddo sort through some work habit issues.
    Being close enough to monitor what she did and how was insightful.
    Everyone’s work habits were on display. Good times.

  71. Phoenix says:

    Someone got hold of this plan-it will succeed, just needs the right actors to implement it.

    A good idea like this doesn’t go to waste:

    MAJURO, Marshall Islands — On a tropical Pacific atoll irradiated by U.S. nuclear testing and twice since evacuated because of the fallout, Cary Yan and Gina Zhou planned to create a unique paradise for Chinese investors.

    They wanted to turn Rongelap — an atoll in the Marshall Islands totaling 8 square miles of land and a population of 79 — into a tax-free ministate with its own legal system that, they claimed, could issue passports enabling visa-free travel to the United States.

    It would have a port, luxurious beachfront homes, a casino, its own cryptocurrency, and a full suite of services for offshore companies registered in Rongelap. With 420 miles of sea between it and the capital, Majuro, it would be relatively free of oversight.

    All the couple had to do to make this a reality was bribe a swath of politicians in the Marshall Islands, a crucial U.S. ally in the Pacific, to pass laws to enable the creation of a “special administrative region” — the same classification given to the Chinese territories of Hong Kong and Macao.

    Yan and Zhou, both Chinese nationals who have also become naturalized Marshall Islands citizens, almost succeeded in their audacious plan

  72. Ex says:

    Some people and businesses should be allowed to fail.

  73. Phoenix says:

    Obama messed that up. He bailed out the banks.

    “Some people and businesses should be allowed to fail.”

  74. leftwing says:

    “American Default”

    LOL lib. Unbelievable. Actually, not really. On stocks, I have no problem finding shorts, it’s longs lol…Should I have bought GNRC or ABNB before earnings…hindsight says yes, ahead of time not so clear lol.

    Sideline sitting. My minimum return through most of the year is more than acceptable, locked, and tax preferred. No reason to move until the market tells me so.

  75. Phoenix says:

    Raquel Welch died.

    Everybody has to go sometime.

  76. Ex says:

    RIP that sexy Goddess.
    She was my crush pre-Farrah Fawcett

  77. Ex says:

    Dig the idea of competency tests for these lifelong public servants. (and failed business people) over the age of 75. Nikki Haley 1….Trump 0

  78. leftwing says:

    On WFH…high level, need to actually get something done soon…

    Personal effects arising from WFH are by definition highly personal and generally immutable…whether at home or at work one is a loner, introverted, etc really has little to do with work locale. Being personal, it is therefore impossible to generalize across groups, people, or corporates.

    Work effects arising from WFH from the personal and corporate perspective…

    Personally, if your job is picking up a piece of paper from a box, doing something to it, and then moving it to another box repeatedly over time…there is absolutely no reason for you personally to be in the office. It makes no sense for you.

    It also makes no sense for the corporate. Having you in the office to perform those tasks is just extra costs added and as many have noted possibly less productive as your former commute time may actually be converted in part to more work time. Large swaths of corporations – most of HR, likely 75% or better of anyone in the Finance vertical, etc can perform their task from home just as effectively. Win-win.

    However….rarely in corporations does an employer-employee relationship sustain a win-win and it is nearly always the corporation that wins…

    Say you are in the Finance vertical at a major corporate in NYC with a Manager of something title, doesn’t matter what…. You’re banging down at least $150k before bonus, likely higher depending on tenure. There is literally no reason for you to be in the office. You take WFH, good for you, more time with family, flexibility, even more time to put into your work absent the commute. And you keep your buck-fifty or so salary. Feels good, corporation is fine with it, for the corporate it’s a p/l wash at worst but likely generates meaningful savings as the do it across each business group in NY metro.

    You’re fucked.

    If you think the corporate won’t weigh in on the scales once the divisional WFH pathways are established you’re high. You’re title is Finance, Manager of [fill in the blank]?

    Former accountants able and willing to perform your exact corporate role are a dime a dozen no matter how special you think you are. Once the job is un-anchored from the NY metro area the corporate can and will run to a lower cost location for equivalent talent there. And it won’t be at $150k+.

    If you are in your 40’s or heaven forbid approaching 50 and you have that type of corporate role in Finance, HR god bless you…I would be seriously looking for a side gig because if you think the pathway from yesteryear is going to survive for you in tenure and comp to retirement you’re going to be greeting people in an orange bib well into your 60s.

    Even people performing truly differentiated roles in corporates are not irreplaceable. Accountants, HR professionals, etc in high cost metro areas are toast.

  79. leftwing says:

    So news breaking in my ear that SBF’s guarantors on his, what, $250m bond are (i) the Dean Emeritus of Stanford Law, and (ii) apparently a senior scientist at Stanford.

    Dean confirms, and issues a public statement on his long time relationship with the parents.

    Two Stanford professors found acceptable by a Court to backstop a $250m bail bond agreement?

    Fee-uck. I seriously went into the wrong profession.

  80. Ex says:

    WFH also opens the corporate employee to subtly interview should they need to branch out to another employer. Interviewing is tooooough when you are in an office all of the time. Short of taking time off. If you WFH you can easily squeeze in an interview in the early AM, at lunch …or when it suits you. 1 – employee 0- employer.

  81. Ex says:

    3:34 they don’t even really “own” their home. Stanford does. They can only sell to another Stanford Prof. Or so I am told.

  82. leftwing says:

    3:35pm Ex….if one is so embedded in the bowels of the mothership that he cannot even have an opportunity to interview without fear of repercussion I would suggest that strengthens the argument…there is so little differentiation at that professional level that the role eventually will be fucked by WFH as in that case nearly all the leverage resides with the employer already….

  83. leftwing says:

    ROKU out, up 17%. Gonna watch the 1m and likely after hour day trade short it. LOL.

  84. Fast Eddie says:

    Raquel Welch… every guy 40 yrs. of age and older is weeping.

  85. Libturd says:

    Man do you have a love/hate relationship with ROKU!

    In other news, I see we are approaching the February 2nd post pandemic high.

  86. Ex says:

    4:03 “subtly” meaning you don’t have to take your time to do it. You can squeeze a Zoom interview in at your convenience. 1-employee 0-employer

  87. Bystander says:

    Nah, left..I don’t see it. More than likely 150k
    skilled worker will see purchasing power erode over time. NYC would go into death spiral. Plus, it dismissed the human factor. No matter AI or robotics it is not even close to dealing with ad-hoc crap greases wheels of daily routine. Execs like to talk in platitudes and promises about tech changing entire paradigms but any complex company just does not have horizontal agreements to consolidate at level it would take to require such little oversight. People would come and go much faster. That is biggest risk that execs face. Not being able to control the knowledge coming and going. With big layoffs they plan that stuff over long time. With mostly WFH contractors you lose that quickly. There are not as many people available at time you need them as you think. It is a f-in PITA hiring multiple roles over and over

  88. leftwing says:

    ByS, in the cost/support areas I mentioned respectfully disagree….once WFH is established for a role there is no re-spooling the thread. There really is no reason there shouldn’t be WFH in any corporate for a business card that reads ‘Finance – Manager, Taxes’ and his entire team…once that happens the processes and procedures in place to secure info and flows are no different if the endpoint of the employee is Morris County NJ or Columbus OH.

    Lib, no love for that company lol. Just hate. Easy call damn thing was up 12% on the day and then ripped 18% AH…put an order in right before posting at 74, she went through but I didn’t get filled….rode down to 70 and hanging there…FFS can’t believe I’m trying to do trades like this….and not getting hit lol.

  89. Ex says:

    Face it, offices can be incredibly bleak. They also cost a fortune to rent and maintain.

    Remove those two factors from the equation and you have a leaner more competitive organization with happier employees. Team Building” Bah. Success usually comes from the efforts of one person. They may work with others, but the best do it alone.

    Search the parks in all your cities, you’ll find no statues of committees. David Ogilvy.

  90. Libturd says:

    One day, we are going to AC. I’m sure together we’ll find some new way to exploit the house.

  91. Bystander says:

    WFH is 0% different than having business in NYC and Operations center in India. Companies have nearly two decades of data to see how it works. The answer is some roles are ok as long as very static & process driven. As end of day the business is in the US and India is gone by 8am Est. India’s caste system makes them very obedient. Corps get seduced into thinking that they can command them to work EST but no f-ing way. I have never seen SLAs met after India goes home. Systems down means money lost. We have to have people in other time zones. Likewise, they try to cheap out with vendor staff then rely on them too much and vendor take pole position when it tips too much in their favor. Upping rates flippantly and asking for big money over what fixed price deal allowed. We are now trying to ween off reliance on contract staff and back to perm. Too risky when people leave like hot markets now. There are no easy answers with trying to save on US staff while handing over daily ops to outside your core business country. If it was easy then no one would be employed now. I don’t think LatAm or European countries have obedience levels of India culture. They are not yes people by nature.

  92. crushednjmillenial says:

    11:30 on “outflow” versus inflow . . .

    1m new immigrants to the USA each year, of which 150k arrive in the NYC metro.

    600k college students in NYC – plenty from out-of-town.

    I don’t know the number, but probably something like five digits of people start their career in NYC after growing up and attending college outside of it.

    The young and the foreign move in. Long-time residents retire out of the metro – going south and west. As I head towards 40, I remain surprised by how many of my childhood and high school friends are still within a 100-mile radius of Manhattan rather than having floated toward the US South.

  93. Phoenix says:

    Don’t I know. Love carrying the deadbeats on my back all day.

    My career you used to have to have a reputation and skillset. Now all you need is a license and a pulse, and the latter is optional.

    “Remove those two factors from the equation and you have a leaner more competitive organization with happier employees. Team Building” Bah. Success usually comes from the efforts of one person. They may work with others, but the best do it alone.”

  94. chicagofinance says:

    Ex: rumors you may get another shot at a Depeche Mode concert at hopefully more reasonable rates.

    Forum LA 2 shows second week of December
    Cyrpto.com LA December 15th and 17th
    Pechanga Arena San Diego early December

  95. chicagofinance says:

    ex: listen to this 50 seconds of instrumental…..
    https://youtu.be/v2tM7bUjbko?t=183

  96. Ex says:

    Sick beats.

  97. leftwing says:

    “One day, we are going to AC. I’m sure together we’ll find some new way to exploit the house.”

    In. As long as you don’t sleep naked.

  98. leftwing says:

    ByS, not sure if we are agreeing, disagreeing, or even having the same conversation…

    To be clear I am not suggesting that corporates move their cost center functions to India lol.

    I am saying that the baseline comp for the roles *based in NY metro* is much higher than other areas. For now, NY metro corporates allowing WFH are comping these employees at their ‘in-City’ pay and benefits. No way they can cut, especially in this environment. Natural turnover? Bring in new employees a step lower…someone considering making a move from Company A to Company B with only B offering WFH? What if B comes back with a 6% discount to the expected ‘in-City’ comp level? Will that new prospective employee walk? Will they corporate be able to find another one instead who values WFH more highly than a 6% comp differential?

    Gradually the WFH pay scale will contract and it will make a step change down when (i) we hit the next recession with layoffs and when firms come of it and rehire there will be a wholesale reset down or (ii) these corps just begin an entire business unit move to WFH in a different geography.

    There’s a reason WS firms built skyscrapers across the river in NJ, and a reason there are massive check processing facilities for major banks not in NJ but in upstate NY…accounting, HR, etc is little different. Professionals, but performing their tasks with a not much differentiated level of repetitiveness.

    Four of the top 12 accounting schools are in geographically inexpensive areas with a high proportion of in-State students…Indiana U (Bloomington), UofI (Champaign), Gainesville (UofF), and Columbus (OSU).

    Set up your Finance/Accounting functions there with senior people, have a constant flow of new grads looking to stay local. Anyone at any level there would gladly stay in their home state/city for a NY metro salary discounted to 75%. Still WFH, and people will be geographically near to each other.

    I can easily see corporates setting up professional ‘pods’ in different US locales with little to no corporate real estate as the next step beyond WFH to escape NY metro comp.

  99. 3b says:

    Left: Many companies that WFH/ hybrid are already opening up positions on a nation wide basis, and that will continue, and it will impact NYC comp levels. I have said repeatedly that NYC will have to reinvent itself going forward, as they will be competing with multiple other cities/ states , going forward. NYC will have to be competitive and that includes the cost of living in the NYC metro area.

  100. Very Stable Genius says:

    “When Representative George Santos of New York was 24, he did something that many millions of people do each year: He got married.

    That marriage, to a Brazilian woman, would last seven years. In that time, Mr. Santos began to lay the groundwork for a largely fictional life story, moving back and forth between New York and Florida, working sporadic jobs that he later falsely inflated into a successful Wall Street career, and navigating a handful of evictions. He would also date men — even proposing to one in 2014.

    By 2019, Mr. Santos was divorced, not long before he launched his first congressional campaign. But the old relationship drew new scrutiny on Wednesday, via a letter filed with ethics watchdogs in the House of Representatives requesting an investigation into whether Mr. Santos”

  101. 1987 Condo says:

    PPI: Hot: +.7 vs expected .4
    YOY: 6.0

    UE claims: 194k vs 200k est

  102. The Great Pumpkin says:

    You and lefty have a point, but the part you guys are missing….the best and smartest professionals on avg want to live in place like NYC. They don’t want to live in low cost areas. They are trying to escape low cost areas, not move back to them. I am talking about 20 and 30 something go getters. They love the high cost areas…these are the places that are alive. What do you do with your money in small town Indiana? Go buy a giant house for cheap, but have nothing to do when it comes to culture, night life, and entertainment?

    Ying and Yang, there are tradeoffs with everything. With the city, you don’t have a big apartment, but your life is lived outside that apartment in the city. In small town cheap america, you have a big house for cheap, but not much to do outside of that house. That’s why when people have families, they give up the apartment for the suburbs. They have to focus on their family and what is best for that.

    Bottom line, if a company wants to be the most competitive, they are not escaping the cost of hiring high end professionals from cities. These are the people that drive companies, not the dude sitting in his sweatpants working from home.

    3b says:
    February 15, 2023 at 8:21 pm
    Left: Many companies that WFH/ hybrid are already opening up positions on a nation wide basis, and that will continue, and it will impact NYC comp levels. I have said repeatedly that NYC will have to reinvent itself going forward, as they will be competing with multiple other cities/ states , going forward. NYC will have to be competitive and that includes the cost of living in the NYC metro area.

  103. The Great Pumpkin says:

    And remember supply and demand…

    “Big, top-tier cities are relatively inexpensive places for high-income households to purchase goods because the expensive items that high-income families tend to buy are plentiful in such cities and households value the variety.

    Conversely, big cities are relatively costly for low-income households because cheap goods are expensive in such cities.”

  104. leftwing says:

    3b, in agreement for sure. For larger corporates, those with at least a national presence, I suspect many will not go the way of ‘random’ WFH and look at more of a hybrid/relocate model…

    Simply freeing the job posting to anyone, anywhere sitting in some living room won’t eventually cut it for most corporates…ByS is Exhibit 1 in how unfettered, essentially anonymous, off site lowest bid piece rate employment works for professionals…it doesn’t.

    Many corporates, especially those with deep cultures and long historical success, won’t do that for these functions. Yet every corporate based in NY metro with HR, legal, Finance, etc ensconced in Park Ave skyscrapers at NYC metro comp would in a heartbeat pick up those groups and move them any one of the four cities above…small problem the employees won’t move.

    These WFH geographic ‘pods’ solve that problem. Get a few existing employees who would make the move to anchor the professional pod elsewhere. Staff with local hybrid WFH’ers locally. Establish yourself with the local university pipeline for new hires so the ‘pod’ over a short period becomes geographically self-sufficient. Take a small floor somewhere in the locale to have your ‘presence’ and a home base for team building, corporate culture, crunch times, etc.

    In much of the corporate v. employee WFH debate the corporate objections mostly distill down to maintaining culture. This solves it. In the past this type of wholesale departmental move for professionals would not have worked for the existing NYC metro employees (no way in hell they’re relocating to flyover America) or for the corporate, logistical nightmare and some cost reduction but not enough. If society is going WFH, it becomes much more viable to bridge the employee/corporate bid-ask…if the employees are going to not mostly be in the office, the corporate really doesn’t need them to be NY metro based, and the cost and logistics of having them elsewhere with WFH is decreasing rapidly.

    Major metro comp levels have always been in the sights…WFH has the beast finally wandering into the open. Those comp levels will be seriously at-risk.

  105. TenPercentForTheBigGuy says:

    WASHINGTON (AP) — Rep. Matt Gaetz, a Republican known for his strong support of former President Donald Trump and membership in the arch-conservative Freedom Caucus in the House, said Wednesday that the Justice Department has ended a sex trafficking case with no charges against him.

    The lawmaker who represents much of the Florida Panhandle issued a statement through his congressional office that the long-running investigation was over. Gaetz had insisted throughout he was innocent of any wrongdoing.

    “The Department of Justice has confirmed to Congressman Gaetz’s attorneys that their investigation has concluded and that he will not be charged with any crimes,” the statement said.

  106. Ex says:

    9:14 when your daddy is rich in America, you do wtf you want!

  107. Ex says:

    8:57 you what sucks about “big cities”?
    Quality of Life. Especially for people with children.
    As skilled labor decides it’s not worth it to move to some
    overpopulated 3rd world mega-city, jobs will either become
    more flexible or they’ll go unfilled. There’s no mystique anymore in
    the big city struggle. The cost-of-living simply isn’t worth the move.

  108. Ex says:

    Perhaps the death of New York’s publishing industry was a precursor to the coming upheaval ?

  109. Chicago says:

    Quietly the 10Y 386

  110. Chicago says:

    The 3’s are coming close to falling off the curve. If we surpass 400 across the board, we are going to feel it. Still tons will set it to buy. Even the 5’s in the front are nectar to the bees.

  111. joyce says:

    leftwing,
    Just to name an example, I thought Goldman moved a lot of back office staff from NYC to SLC a long time ago.

    In the past this type of wholesale departmental move for professionals would not have worked for the existing NYC metro employees (no way in hell they’re relocating to flyover America) or for the corporate, logistical nightmare and some cost reduction but not enough.

  112. The Great Pumpkin says:

    Agreed. Raising families is not for the cities…..unless you are wealthy.

    Ex says:
    February 16, 2023 at 9:33 am
    8:57 you what sucks about “big cities”?
    Quality of Life. Especially for people with children.
    As skilled labor decides it’s not worth it to move to some
    overpopulated 3rd world mega-city, jobs will either become
    more flexible or they’ll go unfilled. There’s no mystique anymore in
    the big city struggle. The cost-of-living simply isn’t worth the move.

  113. The Great Pumpkin says:

    “Big, top-tier cities, such as New York City or Los Angeles, seem expensive because people spend a lot of money when they live there. But, according to Jessie Handbury, Assistant Professor of Real Estate at Wharton, such cities actually are relatively inexpensive for many. The apparent paradox arises because people who tend to live in high-priced cities have expensive tastes and hence are big spenders. But if those big city dwellers moved elsewhere, they would be lucky to obtain luxury items at all. Conversely, big cities are pricey for low-income households because their preferred low-price goods, even if available, are relatively costly to obtain there. In big cities, expensive items are plentiful; but cheap items are expensive. According to Handbury, another benefit of living in a big city is that a wider variety of goods is available. Such a plethora of options in big cities means that residents can buy exactly what they want whereas in smaller cities those residents would have to settle for something else. Taking those factors into account, Professor Handbury finds that a high-income household would find the cost of their preferred bundle of goods to be 20 percent cheaper in a city like San Francisco than in a city like New Orleans. These consumption benefits of living in big cities are so valuable, they “go some way to explaining why high income households actually want to live in these locations” despite high housing prices, Handbury says. It’s not just high-income households that can benefit from urban retail. Anytime there is a concentration of people with similar tastes — Millennials, for instance — living downtown, retail variety will arise to satisfy the market. The attractiveness of those retail options will, in turn, yield higher rents and real estate prices. This virtuous cycle both creates value in the location and makes it persistent — a dynamic real estate investors should keep in mind.”

  114. The Great Pumpkin says:

    So understand that the city is not for the homebody that likes to cook at home. It’s for individuals that want an endless supply of options to eat out. The best of premium shopping options. Endless entertainment. It’s a lifestyle that can’t be found in cheap locations. Cheap locations cater to the poor, not the rich…..understand this.

    So go ahead, buy a cheap big house in south jersey pine barrens…..or in the middle of Indiana. You won’t catch most rich individuals willing to even step foot in these locations. Only rich individuals in these locations are the ones that like to live like the poor and not spend money.

  115. Ex says:

    Who wants to be exclusively in the company of “rich people”. By and large I have found them to be the most annoying demographic on the planet.

    The best revenge is not to be like your enemy.” – Marcus Aurelius

  116. chicagofinance says:

    Truth in this….. I see it at Whole Foods. For the stuff I want to buy, it blows the doors off everyone else, except Costco, but that place is unreliable as a supplier. I refuse to accept it, so I am constantly search elsewhere to no avail. Regardless, I will persist in my hard wired ways.

    The Great Pumpkin says:
    February 16, 2023 at 10:43 am
    “Big, top-tier cities, such as New York City or Los Angeles, seem expensive because people spend a lot of money when they live there. But, according to Jessie Handbury, Assistant Professor of Real Estate at Wharton, such cities actually are relatively inexpensive for many. The apparent paradox arises because people who tend to live in high-priced cities have expensive tastes and hence are big spenders. But if those big city dwellers moved elsewhere, they would be lucky to obtain luxury items at all. Conversely, big cities are pricey for low-income households because their preferred low-price goods, even if available, are relatively costly to obtain there. In big cities, expensive items are plentiful; but cheap items are expensive. According to Handbury, another benefit of living in a big city is that a wider variety of goods is available. Such a plethora of options in big cities means that residents can buy exactly what they want whereas in smaller cities those residents would have to settle for something else. Taking those factors into account, Professor Handbury finds that a high-income household would find the cost of their preferred bundle of goods to be 20 percent cheaper in a city like San Francisco than in a city like New Orleans. These consumption benefits of living in big cities are so valuable, they “go some way to explaining why high income households actually want to live in these locations” despite high housing prices, Handbury says. It’s not just high-income households that can benefit from urban retail. Anytime there is a concentration of people with similar tastes — Millennials, for instance — living downtown, retail variety will arise to satisfy the market. The attractiveness of those retail options will, in turn, yield higher rents and real estate prices. This virtuous cycle both creates value in the location and makes it persistent — a dynamic real estate investors should keep in mind.”

  117. Jim says:

    Ex says:
    February 16, 2023 at 9:29 am
    9:14 when your daddy is rich in America, you do wtf you want!

    Is that a quote from Joe about his son Hunter.

    Remember the one where Joe says ” Nobody fucks with the Bidens”
    Time for a change America

  118. The Great Pumpkin says:

    And nothing wrong with living in a cheap location if that’s what you value….not putting it down. Different strokes for different folks.

    All I am pointing out is that the cost of housing is not the single factor in determining where to live. For a rich person that values the high end city lifestyle, buying property in a cheap location and living there is a waste of money for them. That’s not what they value in life. They have a ton of money already….not looking to save it on housing at the expense of living. They willingly pay up for the lifestyle they desire.

  119. Ex says:

    I cringe at some of the posturing and bleating that I have heard from the mouths of wealthy entitled folks. I’m a small town kid at heart. Proudly. Don’t have much use for the monied class. I find my thrills from old cars, hot women (wife), and good whiskey.
    I like to ride a bicycle, sure mine is hand-made in Italy, but I grabbed it used on eBay.
    Compared to some I might appear wealthy, but we all know that real wealth is vast and encompasses major assets. Most really wealthy people worry about whether or not someone likes “them for them” or are just interested in their money. As successful as my spouse has been, we met when we were both struggling kids. No question about motive or opportunity. I now wealthy folks where the spouse has never held a job and then they wonder why their child can’t be bothered to work for a living.

  120. Ex says:

    10:53 it might as well be. I’m sure Hunter indulged his basest urges and lived like a lot of aimless entitled wealthy kids. Whether or not he is a decent person isn’t really my concern. Compare him to Trump’s kids one of whom Trump brought into the oval office. You know the one whose husband walked away with a $2B paycheck from the Saudis.

  121. Ex says:

    “Be tolerant with others and strict with yourself.” – Marcus Aurelius

  122. The Great Pumpkin says:

    Simple down to earth cool dude.

    Ex says:
    February 16, 2023 at 10:56 am
    I cringe at some of the posturing and bleating that I have heard from the mouths of wealthy entitled folks. I’m a small town kid at heart. Proudly. Don’t have much use for the monied class. I find my thrills from old cars, hot women (wife), and good whiskey.
    I like to ride a bicycle, sure mine is hand-made in Italy, but I grabbed it used on eBay.
    Compared to some I might appear wealthy, but we all know that real wealth is vast and encompasses major assets. Most really wealthy people worry about whether or not someone likes “them for them” or are just interested in their money. As successful as my spouse has been, we met when we were both struggling kids. No question about motive or opportunity. I now wealthy folks where the spouse has never held a job and then they wonder why their child can’t be bothered to work for a living.

  123. Libturd says:

    I’ve become wealthy by living frugally. Where does that leave me?

    And the Captain Cheapo, deal of the day. Ally self-invested brokerage accounts now have eliminated their $9.95 mutual fund purchase fee, so you can park your free cash in say, “Vanguard Cash Reserves Federal Money Market Fund Admiral Shares (VMRXX) – 4.51% ($3,000 min) or Vanguard Federal Money Market Fund (VMFXX) – 4.50% ($3,000 min).”
    TD pays .35 APY in their sweep.

    Goodbye TD Ameritrade.

  124. Ex says:

    11:18 no idea

  125. Fast Eddie says:

    I’ve become wealthy by living frugally. Where does that leave me?

    You need to distribute some of it to the lesser-informed muppets in the name of equity equality. Your privilege has allowed you to gain an unfair advantage.

  126. Ex says:

    To Republicans, I humbly suggest that we make it possible for Democrats to give up their quest for redistribution of income and wealth by our acceptance of an appropriate role for government in financing those public goods and services necessary to secure a social safety net below which no American would be allowed to fall.

    Jack Kemp

  127. Libturd says:

    I already do that. Where do you think my property taxes go in Essex County. I was in Bloomfield High School yesterday. They have four gyms. ’nuff said.

  128. Ex says:

    “Nuff said”

    gymnasiums ? How about universal healthcare?

  129. 3b says:

    Americans credit card balances reached a record high of 986 Billion, 4th quarter, from a pre-pandemic high of 927 billion.

  130. 3b says:

    3b: Chatter now about Fed rate high in June.

  131. prtraders2000 says:

    Not all mutual funds on TD have a purchase fee.
    SWVXX (Schwab Money Advantage Mutual Fund) 7 day yield 4.48% no minimum.

  132. The Great Pumpkin says:

    Pretty funny list. Check it out if you have time.

    “Have you ever driven through a small town (small being less than 10,000 people) and wondered to yourself, “What do people DO here?” I’ll tell you.

    1. Watch TV at home and/or take advantage of Netflix and OnDemand.

    2. Go to the gym. Want to get in really good shape? Live somewhere where there is nothing better to do. Results guaranteed. It is also pretty nice to see the same friendly faces at the gym every day.

    3. Go to the movie theater (if you’re lucky enough to have one). The town where I live actually has a pretty nice movie theater. Unfortunately, it’s inclination to play any type of foreign film, “racy” film, etc., is usually not strong. They also ALWAYS opt in for whatever Jesus/God documentary is currently out, even if they haven’t had the Oscar contenders. Beggars cannot be choosers, and I often times find myself seeing things I would never normally see.”

    https://thoughtcatalog.com/lauren-perry/2014/04/40-things-people-who-live-in-small-towns-do/

  133. The Great Pumpkin says:

    Comment from that article….perfect example of how out of touch people living in NYC metro (coasts in general) are with the rest of the country.

    “I’m both laughing and crying at this list, because my town is too small and too closeted for half of these things. Bowling allies? Bars? Bands *that aren’t based in churches*? Conferences? Even K-Mart?

    Sounds nice. But sounds like a decent-sized town as well, when you’re stuck without such things.”

  134. Ex says:

    A lot of people who reside in small towns are actually from those places.
    They have a built in friend group. Folks who move there are often surprised when they aren’t welcomed by friendly locals. Most small towns are insular.

  135. leftwing says:

    Joyce, yes, apparently so…dated article below and I couldn’t find with few enough clicks one that is newer but appears to be more back office and customer support…no reason the same couldn’t be done with professional support – Finance, HR, Legal, etc.

    And the neat thing, as WFH becomes acceptable for corporates, they can disburse further than just to one other city where they have a major presence…the choice of ‘not in NY metro’ doesn’t need to be limited to 25 floors in SLC, it can be where the talent is or wants to congregate without being just one other locale or willy-nilly Zoomed all over the place.

    I could easily see a corporate org chart with the Exec Suite in NY metro, their direct black line reports in NY metro, and then…their direct black line reports may be NY metro or the ‘pod’ leader for that function running a professional group of dozens of people somewhere else….under the CFO your IR may be out of FL, your Accounting out of Columbus, Treasury out of IL, and Corp Development out of VA…

    With WFH there is zero reason for a corporate to have the majority of their HR, Finance, Legal and similar professionals sitting anywhere in the NY metro area at NY metro comp.

    Five to 10 years from now it will seem prehistoric and almost negligent if a corporate is paying metro NY wages to Accounts Payable, Receivables, Financial Reporting, Controlling, Payroll, etc professionals and their reports in the finance department.

    WFH will free them from the NY metro office, and the obvious next step once freed is to distribute those functions into cheaper but domestic and highly competent areas.

    I’m aware many tech companies, including some of the largest, already work distributed. Most traditional corporates do not. I typed the above looking at Marriot’s org chart, for example.

    https://archive.sltrib.com/article.php?id=56759646&itype=CMSID#:~:text=From%20Bangalore%20to%20Utah%20%E2%80%A2,on%20Chipeta%20Way%20in%202000.

  136. leftwing says:

    “To Republicans, I humbly suggest that we make it possible for Democrats to give up their quest for redistribution of income and wealth by our acceptance of an appropriate role for government…Jack Kemp”

    Love Kemp. Usually spot on. Problem with the above is the Left’s desire for other’s people money and government control of its distribution is never satiated.

    There is no trade that can be done with these people.

  137. Libturd says:

    Thanks PR!

  138. Ex says:

    2:16 Good governance is about consensus and actually compromise.
    The current state of affairs isn’t helping anyone. Digging your heals in and refusing to give isn’t exactly a sign of productive government. Trying to come to mutually beneficial agreements is the only way for the Country to prosper.

  139. Fast Eddie says:

    Fetterman hospitalized to be treated for clinical depression:

    https://www.yahoo.com/news/fetterman-hospitalized-treated-clinical-depression-194115157.html

    Remember the progressive doctrine: advancing the agenda at all costs. The personal health and well-being of a candidate has no bearing on the success of the Collective.

  140. Juice Box says:

    Ex: all this bleating about Kushner again? What former president or administration official or even family member has NOT used their influence to set themselves up later to profit from their relationships with the foreign or domestic moneyed interests after the administration had ended? Trump YES, Obama YES, GWB YES, Clinton YES, GHB Y, Regan YES… You have to go all the way back to Carter.

    How about when they were in Office like Sleepy Joe? How is it Sleepy Joe’s brother Jim a former bar owner, insurance broker and political consultant got hired to run interference for an American Company doing business in Saudi Arabia? How is it a non-lawyer got hired to work on a legal disagreement over the payout from the Saudis? Was it his vast knowledge of international law or because his brother was the sitting VP and they needed weapons from us to wage war?

    Shit stinks to high heaven anytime I ever get near the beltway regardless of who is running the show they are all the party of corruption.

  141. Ex says:

    3:20 not an excuse to allow unbridled corruption.
    Really makes the office into a cash cow for the dishonest.
    Taking money from the same folks who orchestrated 9/11?

  142. Ex says:

    In addition our politicians are generally loathed. Clowngress have approval ratings in the single digits. I can’t think of anyone who’d not welcome a perp walk from law breakers of either party. I agree. I’d love to see Clinton held accountable. The Bushes and their consulting firms peddling influence. Make these low life’s accountable.

  143. Juice Bxo says:

    EX: re: “Taking money from the same folks who orchestrated 9/11?”

    Pluzze get off your high horse and remember that every time you fill up the tank on your Nazi sled, you are filling it up with Saudi light sweet crude exported to the USA every day at the rate of 440,000 barrels a day for the last 60 + years.

  144. Libturd says:

    Nice market close drop.

  145. Ex says:

    3:34 Good point….said no one ever.

  146. Libturd says:

    “they are all the party of corruption.”

    Yes they are. All criminals.

    Except for Bernie. Though he did honeymoon in Cuba.

  147. chicagofinance says:

    Argentina is a former sovereign investment grade credit, now is going back to the IMF for the umpteenth time…….

    leftwing says:
    February 16, 2023 at 2:16 pm
    “To Republicans, I humbly suggest that we make it possible for Democrats to give up their quest for redistribution of income and wealth by our acceptance of an appropriate role for government…Jack Kemp”

    Love Kemp. Usually spot on. Problem with the above is the Left’s desire for other’s people money and government control of its distribution is never satiated.

    There is no trade that can be done with these people.

  148. Libturd says:

    Big Tesla recall.

    Tesla recalls 362,758 vehicles over self-driving safety concerns.

    Down 5.5%.

    Man are they complete virtue signaling POS.

  149. chicagofinance says:

    By Scott Squires

    Cut off from global credit markets, Argentina’s government is selling ever more local currency bonds, amassing a debt load that already totals 33 trillion pesos ($174 billion) and is rising almost exponentially.

    In one week, the Treasury will seek to roll over 300 billion pesos of debt, offering higher interest rates and shorter maturities to entice investors as they have in each of the previous four months.

    For Fabricio Gatti, a portfolio manager at Novus Asset Management in Buenos Aires who holds the notes, that tactic will only work for another few months. By the second quarter, investors may refuse to roll over the securities ahead of presidential elections in October, potentially ushering in Argentina’s second default on local currency debt in four years.

  150. Juice Box says:

    It’s not a recall no need to go to the shop and have them change out the tranny. It is a software update over the air for the same Beta software they have been running for over a year now. If you take your hands off the wheel it’s your fault the car even crashed. FSD is still only level 2.

  151. chicagofinance says:

    Stephen Schork, The Schork Group Principal
    minute 30:35 of 33:27
    Everything you need to know.

    https://www.bloomberg.com/news/audio/2023-02-15/surveillance-delayed-recession-with-wizman-podcast

  152. Fast Eddie says:

    O’Biden, Feinstein and Fetterman… vegetable soup for the masses.

  153. Ex says:

    I picture Gary as a slobbering pedo with a huge beer gut and an IQ of 72.

  154. Boomer Remover says:

    Same, albeit a loveable pedo. But, they really ought to do something with these old [expletive].

  155. leftwing says:

    “Good governance is about consensus and actually compromise.”

    We agree here. My issue as stated remains though…the Left believes as a matter of birthright it has the ability to not only take your money [life] but spend it as they wish. That’s a problem, and there is no compromise with that construct.

  156. leftwing says:

    “Same, albeit a loveable pedo.”

    Just got back from Florida…on the way out was behind a guy on a bike, no helmet, sunglasses and baseball cap turned backward doing about 70mph…sweatshirt he was wearing?

    “Kill your local pedophile”

    LOL

  157. trick says:

    Ford Suspended Production of 2023 F-150 Lightning After Fire in Vehicle Holding Lot
    Ford halted production of its popular F-150 Lightning earlier this week due to an undisclosed battery issue. Now we know what that battery issue was: A fire sparked by a battery issue in a truck during a standard pre-delivery quality check. The fire was extinguished by Dearborn Fire Department, but not before it damaged a second vehicle on the holding lot.

    Ford announced the stop-build order at its Rouge Electric Vehicle Center in Dearborn, Michigan, on Tuesday after identifying undisclosed battery issues. The Detroit Free Press learned Wednesday the incident that incited the hold occurred back on February 4, and wasn’t a minor quality control issue:

  158. Ex says:

    More Kushner fun!!

    He’s the cardboard cutout who wishes he could be a real boy who only gained acceptance to Harvard after his daddy donated $2.5 million to the school. He’s the walking, talking case of chronic anemia who was born on third base into a billionaire family but once said that Black people need to “break out of the problems that they’re complaining about” and that Trump “can’t want them to be successful more than they want to be successful.”

    Turns out that Jared’s father might suck even more than he does.

    In case you were not aware of Charles Kushner’s crime:

    Charles Kushner was giving illegal campaign contributions to Democrats. When William Schulder, the husband of Charles’ sister Esther, found out, he went to the office of US Attorney Chris Christie with information about the crime

    Essentially, Charles Kushner’s brother-in-law contacted authorities about his illegal behavior.

    They probably didn’t get along well.

    In the midst of that investigation, in which Charles Kushner’s sister and brother-in-law were cooperating, Charles hired a prostitute to seduce his brother-in-law. He then filmed the sexual encounter and had the tape mailed to his sister on the day of her son’s engagement party.

    His nephew’s engagement party.

    All of this was discovered, and it turns out to also be illegal.

    Charles Kushner pleaded guilty to 18 counts of witness tampering, tax evasion, and illegal campaign contributions.

  159. Ex says:

    But wait!! There’s more:

    “The Beleaguered Tenants of ‘Kushnerville.’” That’s the headline of a recent piece in ProPublica about the real estate dealings of Trump’s son-in-law and White House senior adviser Jared Kushner. The piece looks at how Kushner’s former company Kushner Companies has acted as a “neglectful and litigious” landlord of low-income housing units in Baltimore. ProPublica reporter Alec MacGillis chronicles how Kushner Companies hounded low-income tenants with a barrage of lawsuits, eviction notices and late fees—even when the tenants were in the right. Tenants also described terrible maintenance practices, which created nearly unlivable conditions for some families.

  160. Jim says:

    Ex says:
    February 16, 2023 at 4:58 pm

    Charles Kushner was giving illegal campaign contributions to Democrats. When William Schulder, the husband of Charles’ sister Esther, found out, he went to the office of US Attorney Chris Christie with information about the crime.

    This is such old news, you were probably in NJ when this happened. That is the reason Christie was not given a job in Trump’s administration .
    This Trump thing is shrinking your brain…..he hasn’t been in office for almost 3 years, remember JOE the clown got in and inflation went crazy. The Clown Cutting out the pipeline, allowing illegals to flood the country( COSTING BILLIONS TO EVERY TAXPAYER) and the Afghanistan debacle have brought our country to its knees. Yet all you can think about is TRUMP!

    Silly Boy Joe tricked you, and you believed him. LOL Joe has a reputation for lying, cheating and story telling, he tried many times to be president and always failed until now, should have been thrown out of college for plagiarism , but just continued cheating and now is ruining the country.

    Trump is living rent free in your brain, and you missed the forest for the trees.

  161. chicagofinance says:

    Ex: On Sale: February 24, 2023, 10am (local time)

    December 1, 2023 T-Mobile Arena
    Las Vegas, NV

    December 3, 2023 Chase Center
    San Francisco, CA

    December 6, 2023 Pechanga Arena
    San Diego, CA

    December 10, 2023 Forum
    Los Angeles, CA

    December 15, 2023 Crypto.com Arena
    Los Angeles, CA

  162. chicagofinance says:

    Presales are 2/21 – look for ways to access.

  163. Hold my beer says:

    Chciagofinance

    Citi credit card gets a lot of those presale deals. Also registering with the official site for the group is another way. Some groups you have to pay to join the fan club to get the first round of presale

  164. Libturd says:

    I will probably get early access through the casinos if anyone needs it for the Vegas show.

    ChiFi, Tom Keene better quit smoking. He can barely speak anymore.

  165. Juice Box says:

    Anyone’s kids going crazy over that Logan Paul energy drink Prime?

    He is killing it, huge sales $25o million first year and looks to more than double it this year. Worker at Vitamin shop told me a customer came in yesterday and cleaned them out for $3,000 of stock to resell it online in England and other countries at like $20 a bottle.

    https://www.dexerto.com/entertainment/logan-paul-reveals-how-much-prime-has-made-already-amid-viral-success-2061685/

  166. Fabius Maximus says:

    Left,

    I get what you are trying to say with WFH, but there are significant headwinds to that happening. I’ll defer to the HR and Tax (where is Eddie Ray when he could be useful) experts.

    “‘pod’ leader for that function running a professional group of dozens of people somewhere else” They can be somewhere else, but they need a base for Tax Reporting purposes. ” You need to be Solid on the fact that that role is out of that office.

    under the CFO your IR may be out of FL, your Accounting out of Columbus, Treasury out of IL, and Corp Development out of VA…”

    So I report to the CFO, you’re moving the dept to OH, but I’m now WFH and decide to stay in NYC. I may pay a few more bucks to stay in NYC, but I’m cool with that. NYC wont take it the same way. Audit says revenue is in NYC and work performed in NYC FU company Pay Me.

    Ok, I’ll WFH in Nevada, I love Vegas. Great tax state for an employee, but for the company? Now you have a company presence in a hostile tax state you now have to register and FU company Pay Me. (and not just on what that single employee generates)!

    Now the company has to be able to have a presence in all 52 states and fight the local taxation laws.

    So Company says that well you have to relocate OH to keep your job. Now we are into relocation packages and the like and employees getting hit with dual residency.

  167. Fabius Maximus says:

    “Why was East Palestine ‘bomb train’ not stopped when fire broke out? Video shows flames from faulty bearing licking wheels 20 MILES before it derailed.”

    Trump Deregulation. “A rule was passed under President Barack Obama that made it a requirement for trains carrying hazardous flammable materials to have ECP brakes, but this was rescinded in 2017 by the Trump administration.”

    https://twitter.com/McCullough5811/status/1626277749731074055

  168. Ex says:

    5:47 yes, I think it needs to be noted just how gross these urchins are.
    For every conservative bleating about corruption .

    WFH … some firms are all-in on WFH. Pfizer being one.
    Essentially their opening up certain times for remote workers
    significantly expands their reach and scope regarding talented
    people with no desire to move to New York.

  169. Fabius Maximus says:

    Jin,

    Where to start. Yes, Kush senior went to the big house under CC and Jr blocked CC in the Admin.

    What’s your stance on Kush Jr, with 555 bailout and that $2 Billion that showed up. Ivanka’s China deals all while under the Admin Payroll.

    That’s a different league from Juice getting his Hunter Hard On that now seems to be seeping over to Joes brother. They are in the Billy Bob Beer league!

  170. Juice Box says:

    Fab – re: “Beer league”

    Fab when is the FBI picking up the other folks?

    ” Canada registered three trademarks following Ivanka’s sit-down with Canadian Prime Minister Justin Trudeau.”

    “Prime minister of Japan, his country approved three trademarks for her business, in less than one third of the time it had previously taken,”

    So just how well are those Ivanka-branded fashion gear, including sunglasses, handbags, shoes and jewelry selling anyway?

    Lol…. Let me know when the FBI opens an investigation.

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