From CNN:
Mortgage rates fall for the fourth week in a row
Homebuyers benefited from another week of falling mortgage rates, with the average rate dropping for the fourth week in a row, according to data from Freddie Mac released Thursday.
The 30-year fixed-rate mortgage averaged 6.28% in the week ending April 6, down from 6.32% the week before. A year ago, the 30-year fixed-rate was 4.72%.
“Mortgage rates continue to trend down entering the traditional spring homebuying season,” said Sam Khater, Freddie Mac’s chief economist. “Unfortunately, those in the market to buy are facing a number of challenges, not the least of which is the low inventory of homes for sale, especially for aspiring first-time homebuyers.”
The average mortgage rate is based on mortgage applications that Freddie Mac receives from thousands of lenders across the country. The survey includes only borrowers who put 20% down and have excellent credit.
After hitting a 2022 high of 7.08% in November, rates started 2023 trending down. However, they climbed again in February, after robust economic data suggested the Federal Reserve was not done in its battle to cool the US economy and would likely continue hiking its benchmark lending rate.
The Fed raised interest rates by a quarter point at its most recent policymaking meeting, in an effort to continue to fight stubbornly high inflation while taking into account the risks to financial stability brought about by recent turmoil in the banking sector.
Good Morning New Jersey
second
Turd
I’ve been doing the dating thing all wrong. Anybody know where I can purchase a German Shepherd outfit?
Moment Mississippi woman, 19, is arrested over video showing her ‘having sexual intercourse with a DOG’
Denise Frazier, 19, was caught on a video that had spread around via Snapchat
A local resident alerted the authorities which led to Frazier’s arrest.
I think the real answer is that Boomers are too old and aren’t interested in messing around like that anymore.
The Great Pumpkin says:
April 6, 2023 at 11:05 pm
Florida is no longer a “swing state.”
Dude. Seriously. What kind of hours do you keep?
It has been said that America’s greatest export is entertainment. I guess the profits are even higher when you never have to pay the actors.
A bombshell new reports has exposed Tesla staffers as sharing videos of customers, including one showing a naked man approaching a car, another showing ‘sexual wellness items’ while yet another exposed Elon Musk as owning the white Lotus submarine from The Spy Who Loved Me.
The leaked clips were all recorded on Tesla’s integrated dashcams and were shared through the internal messaging network Mattermost between 2019 and 2022, reports Reuters.
An employee told the agency that the clips spread ‘like wildfire’ through the company, with some even using the videos to make memes.
‘We could see them doing laundry and really intimate things. We could see their kids,’ said the staffer. According to the report, the camera was able to record people’s lives because it was charging.
Phoenix
You’re not already a furry?
The 30-year fixed-rate mortgage averaged 6.28% in the week ending April 6, down from 6.32% the week before.
It’s like tossing a wounded animal into a basin filled with Piranhas. Anything with four walls and a roof is going to net you a profit. The question is, what to do when you sell? Go to an area away from NY/NJ/CT? Rent for a year or two and keep your powder dry? What would you do? I’m eager to hear everyone’s strategy.
HMB
Actually, no. I think that’s for those in the veterinary field.
and to whom is this question directed to?
Chicago says:
April 7, 2023 at 8:02 am
Dude. Seriously. What kind of hours do you keep?
Ah.. Tesla. I was driving behind one of the sedans yesterday. Man, it’s a hot looking vehicle. If I decide to go electric, I think Tesla is my first choice. We both were getting on the Parkway and that car was gone in a flash. My BMW Turbo was no match for that hot rod.
Firm numbers. But right on expectations
The Pope on Disney Plus? I don’t have it. Rumor has it Proctor and Gamble has been trying to get his secret formula for cleansing souls, they seem to believe it’s better than the ingredients in Tide.
Pope as a lawyer: you have committed a crime, but we don’t want to prosecute you for it.
Pope Francis has revealed his views on sex and described it as ‘one of the beautiful things that God has given to the human person’.
The 86-year-old pontiff made the comment in the Disney+ documentary ‘The Pope: Answers’, which sees him in a meeting with ten people in their early 20s, captured last year in Rome.
Francis was quizzed by them on a variety of topics, including LGBT rights, abortion, the porn industry, sex, and faith and sex abuse within the Catholic Church.
‘Sex is one of the beautiful things that God has given to the human person,’ he said in the documentary.
On abortion, Francis said priests should be ‘merciful’ towards women who have terminated a pregnancy, but said the practice remains unacceptable.
‘It good to call things by their name. It is one thing to accompany the person who had one (abortion), quite another to justify the act,’ he said.
To be clear, weakness over the last week means as expected represents a beat.
Revisions are up. Added extra 1M across last 3 months.
People are coming back into the workforce and taking jobs.
The leaked clips were all recorded on Tesla’s integrated dashcams and were shared through the internal messaging network Mattermost between 2019 and 2022, reports Reuters.
Tesla is one of the few companies that hasn’t outsourced its AI data annotation work. I’ve tried to go after it a few times.
Turns out “adult supervision” is a meaningful value proposition. It’s not that this thing is completely impossible in my world, but the fact that an employee could even take a screenshot or save the video and share it out, that’s just data protection 101. This would result in immediate termination, zero tolerance.
No surprise that Mercedes is now the leader in autonomous driving.
Jobs Data 📋
Unemployment rate 3.5% v. Exp. 3.6%
Avg hourly earnings 0.3% M/M, Exp. 0.3% (annualized 3.6%)
Avg hourly earnings fell 4.2% Y/Y, Exp. 4.3%, Last 4.6% (no wage price spiral)
Report Take-a-Ways:
– Leis. & Hosp. still 368k jobs (2.2% below) pre-pandemic peak
– Govern. still 314k jobs (1.4% below) pre-pandemic peak
– Most data little unchanged
– Hot January jobs was revised down by 32k jobs to 472k jobs added vs 504k
– February was revised up by 15k
Fears of a wage price spiral can continue to ease as wage growth continues to decline back to trend. Last report it was .2% and this report it was .3% M/M. This is bullish for inflation.
There are a lot of jobs still left to be filled in Leisure & Hospitality, approximately 368k, showing that there is still room structural for jobs to be filled there. One can argue that we still continue to see a rebalancing from COVID disruptions.
Net-net, this is bullish for the economy as labor remains a foundational bellwether to keep this sluggish economy going, consumers can continue to spend through. Meanwhile, inflationary pressures continue to ease and there appears to be no risk (currently) of structural 1970’s style inflation.
This is nothing crazy and should keep market trend stable.
Tesla dropped there prices again, Model 3 rear wheel drive after tax incentives just over 31k and no sales tax. Thinking after they no longer get the full tax credit they will drop further. Not a tesla fan but for the tech cant beat it.
For Stu:
https://www.youtube.com/watch?v=3OMLlDy_AZc
I knew it.
A few days ago I made a post that DeSantis aka DeCastro intend is to help out his friendly donation giving developers as he ramps up his presidential campaign using the cover of culture war against Disney. The sentence below from the Politico article gives it away.
This is no different that a mayor using his city’s lawyers,police, health, building departments to harrass a business that is in the way of a buddy developers or other businesses. This is a big red flag in the world of public corruption. Will not be surprised if Federal level investigations are not under way or will soon be under way.
“But his remarks on Thursday evening outlined that more immediate actions are pending. DeSantis also said that the new district he appointed would explore developing property it owns that is adjacent to Disney property. He also contended that the Florida Legislature was prepared to void the development agreement that had been approved by the outgoing board.”
https://www.politico.com/news/2023/04/06/desantis-disney-hotel-taxes-toll-rodes-00090959
“Phoenix, You’re not already a furry?”
Of course, he shaves. Optical illusion, makes it look bigger.
https://www.secretbenefits.com/
Not kidding. Cheaper to rent than own, long term. And much more pleasurable.
I knew it.
Miss the old Republican party. The one that would have crucified Desantis for meddling in the activities of a corporation, tearing up a contract in a way that we’d expect out of communist China. Overreach, big government, etc etc etc. You nailed this 100%, this is all about cronyism. Nowwww the truth comes out.
Nonsense.
“…but the fact that an employee could even take a screenshot…”
Aside from having whatever arcane topic I discuss with friends on a Saturday night appear in my push feeds the next morning, these issues were driven home for me years ago when I saw some random one-off photo of Zuck working somewhere out of the office and noticed on his laptop he had tape over the camera lens, lol.
“Miss the old Republican party.” Haha, not biting today.
“Will not be surprised if Federal level investigations are not under way or will soon be under way.”
Me either, considering the Left’s playbook is to take what they can’t win at the ballot box through their lackeys in Federal LEO and Courts, no matter how specious or meritless.
Lol
They can fucking blow me…..
https://apnews.com/article/baseball-home-runs-climate-change-2f05bcb73155ae63b8b6344b42dba33b
On the college admissions front, a small portion of the kid went from non-stop rejections waitlisting (from schools like Miami?) to success.
1 admitted to Harvard, 1st one in 14 years for my students
1 admitted to Columbia, 2nd one in 14 years
2 admitted to Cornell
1 admitted to Brown
Ironically, the one who got into Harvard I would have ranked her about 20th on my list this year. I’m happy for her though. Great kid. Just goes to show you, I think they throw 85% of applications in the trash by default.
Of course, he shaves. Optical illusion, makes it look bigger.
https://www.youtube.com/watch?v=X8faliSFo1U
Fat Fuck Fast Eddie says:
April 7, 2023 at 8:25 am
Ah.. Tesla. I was driving behind one of the sedans yesterday.
My son in law in Ohio has a Tesla, unbelievable speed on that baby, had it up to 100 in a matter of seconds from dead stop. Like being in a rocketship , WOW.
Jim,
I followed the car onto the Parkway and it was gone in a flash. Aside from the impressive speed, I like the way the car looks. It has a high end Euro look to it.
Hey, come on, looking for an answer on a potential house sale. If you own a house in our area and are considering selling, what would you do? Downsize and try to purchase a smaller house, a condo, townhouse, etc. or rent for a while or move out of the area? What would be your strategy?
Tesla “plaid” has 1000 Hp – that’s the rocket ship of the family.
Eddie you stooopid f-ck do whatever you want you’ll still be a loser.
RadiantChild says:
April 7, 2023 at 11:38 am
Eddie you stooopid f-ck do whatever you want you’ll still be a loser.
You almost sound like that jerk we have on here called EX or EXEX, constantly changing his handle. I guess when you are stoned you become short on brain cells.
After all how else can you support a president who has sacrificed our national security for his personal gain, along with bankrupting SS , 20% inflation, allowing China to do whatever they want, spending every dollar we have, the list goes on and on.
Makes you wonder what long term pot use does to common sense???
Hey Jim eat a dick.
Fast Eddie says:
April 7, 2023 at 11:30 am
Hey, come on, looking for an answer on a potential house sale.
I do have a 4 unit I was thinking of selling , but the gain from capital gains is daunting and financially painful. I have had two different realtors call me about selling ( listing would now be over $625,000). The problem is FED is deducting 14,400 a year from my SS because of profit I made in 2021. Unlike residential property where you get up to $500,000 tax free, investment properties are 100% taxed for capital gains less any current deductions. Makes no sense to sell to make more $$ for the FED.
If you had a single family house you lived in for the last five years, might be time to sell, I did that in 2007 and walked away with over $400,000 profit. We all know what happened in 2008. I am not sure how I even convinced my wife to sell, she was not happy.
ExEx says:
April 7, 2023 at 12:52 pm
Hey Jim eat a dick.
EX read this when you are not stoned. DRUGS IS BAD. Kills the brain cells.Shortens your life!
By the way I am not gay like you, so enjoy that penis
Did you read that there’s a new study showing “drinking” actually has no healthful benefits even in moderation? As for weed, it’s actually therapeutic on many levels.
RadiantChild,
The most common forms of psychopathology in morbid jealousy are delusions and obsessions. It is considered a subtype of delusional disorder. Good luck in your recovery… or not.
Did you read that there’s a new study showing “drinking” actually has no healthful benefits even in moderation?
Maybe not, but it seems to help when trying to hook up with someone.
grim says:
April 7, 2023 at 10:20 am
“Miss the old Republican party…”
Interesting that you don’t miss the old Dem party — that one that was mostly sane (knew that men couldn’t become women), at least somewhat concerned with actual governance, and largely aligned with blue collar interests (instead of drag queens, trannies and criminals). Why not come out of the closet and just admit you’re a Dem stooge like Ex? Embarrassing I know, but I’m sure you’ll feel a lot better being your authentic self.
SGC he supported covid vax mandates too. Never mea culpa’d either?
“Hey, come on, looking for an answer on a potential house sale.”
WTF, you think this a real estate blog rather than a politics, economics, travel, hockey, stock, and pot forum?
Eddie, IDK. End of day two big points for me…first and foremost your primary residence is your shelter, not a short term tradeable asset. Second, it’s all highly personal…
No one ever bottom ticks a market on a buy and top ticks on a sale…so don’t try. Especially with your shelter. Right now does it seem prices are going to be, in hindsight, near moderate term highs? Likely, but who knows? And to my first point – it’s your shelter – so how much does that even matter?
List all the attributes that are important to you in descending order in a primary residence. Your current house ought to check most boxes. If you were to sell and move to the next best alternative how many boxes does that one check? Are the foregone differences worth the net ‘take’?
Are you in a large 4BR in the middle of nowhere away from family, single, with a large yard with lots of expensive maintenance and no social life and desiring an active one paying $5k monthly with $250k locked up in equity?
Can you get a modern 2/2 apartment closer to family, no maintenance but great common amenities, full of people like yourself, more urban and near/in a metropolitan area for under $4k and in a tax advantaged way spring the liquidity to invest? Seems like a no brainer. Do the inverse of everything above and you’d have to be crazy to move.
In later adulthood at one time or another I’ve owned a personal residence, owned multiple personal residences, rented my primary residence, and owned investment properties.
In each instance it was the most[ly] correct thing *for me to be doing at that time given my current circumstances*.
I don’t think at any point (other than an investment property) did I let the current market price drive my decision, ie. be a top criterion on the list.
Put pen to paper on what makes you happy. Only you know. If market prices enable a decision that enhances your happiness, bingo.
Punishing Tesla because they sources cells from China.
Top battery producers none are USA. It too dirty of an industry.
CATL: 37% – China
BYD: 13.6% – China
LG: 13.6% – South Korean
Panasonic: 7.3% – Japanese
SK On: 5.4% – South Korea
Samsung: 4.7% – -South Korea
CALB: 3.9% — China
Gotion: 2.7% – China
Sunwoda: 1.8% — China
Farasis: 1.4% – China
Other: 8.6%
Phoenix – people drink to regulate unpleasant emotions, any kind of health benefit marketing is just bunk. Even in sci-fi shows based in the far future they still drink. No law will ever prevent it, and I am not even talking about harder stuff either.
That is unless we go full on taliban.
Earlier this week, and somewhat relevant to the conversation at hand, I learned that Poland now has more battery production capacity than USA. And is second only to China, ain’t that some?
Proximity to the German auto industry and favorable cost structure I guess. That newly built LG Chem campus must be huge.
https://notesfrompoland.com/wp-content/uploads/2023/04/batteries.png
That is unless we go full on taliban.
A democrat’s dream.
We shall see.
https://elements.visualcapitalist.com/chinas-dominance-in-battery-manufacturing/
For those that are into MMA, now this is a takedown.
https://twitter.com/YNRD_248/status/1642637412659523586?s=20
I forgot how cold it can be in Ontario In April.
Gorgeous day today. Cal Tech campus for the State Science Olympiad.
Skyrocketing home prices haven’t stopped millennials from buying real estate, allowing the cohort to finally switch over to having a greater share of homeowners than renters.
A new report from RentCafe found the number of millennial homeowners – who are anywhere from 27 to 42 this year – jumped by 7 million over the past five years to more than 18 million, with 52% owning a home in 2022. More than 17 million millennial households continue to rent.
Despite the shift, baby boomers – those ages 59 to 77 this year – continue to dominate the housing market with 32 million owners. Gen Xers, who turn 43 to 58 this year, had more than 24 million homeowners in their ranks.
And this just in….
Morgan Stanley’s chief investment officer is predicting that the commercial real estate sector is facing an economic crash worse than the 2008 financial crisis.
The pandemic, high interest rates and the collapse of Silicon Valley Bank have all strained the sector in the last couple of years, with more than $2.4 trillion of debt expected to mature over the next five years.
Regional banks holding a significant number of commercial real estate loans in their portfolios are forecasted to face particular turbulence.
Or in NJ when you are in Gainesville.
Something is up with these eggs. I have some from Wal-Mart, some from Shop Rite. Was going to poach and make some hollaindaise for tomorrow. The proteins seems to be way off and nothing is working. I suspect these chickens are malnourished or the eggs are just really old. I guess only the farms or neighbors eggs from now on.
Phoenix, Jesus Christ, that was an undertaker chokeslam.