From JerseyDigs:
Study Says New Jersey Home Sale Prices Have Jumped Almost 18% in Two Years
Real estate in New Jersey has continued its upward ascent despite choppy economic conditions and a new study of home sales shows New Jersey’s home values have continued to increase in a post-COVID environment.
Real estate website New Jersey Real Estate Network recently analyzed data from Zillow detailing historical average house prices in every East Coast state. The study looked to gauge which state has had the highest home sale price increases from 2021 to 2023.
Including every state that fronts the Atlantic Ocean, New Jersey ranked eighth in sale price jumps over the past two years. The Garden State’s average sale price in April 2021 was $388,005 and rose to $457,044.57 in April 2023, which represents a 17.79% increase in two years.
Despite the high home values in New York City’s suburbs, Cape May County has led the way since 2021. The Jersey Shore destination saw home sale prices increase higher than the state’s average, coming in at 28.33%.
On the lower end of the scale is Hudson County, with an average sale price increase of 9.98% since 2021. New Jersey’s overall average sale price of just over $338k ranked behind only Massachusetts in the study, which saw the lowest increase over the last two years but still clocked in at coast-leading $501,215.
Connecticut came in just behind the Garden State at ninth place with a 17.78% increase and a $309,127 average home sale price. New York saw a 15.93% increase over the same time frame, while Pennsylvania’s home sale prices in 2023 jumped to an average of $248,121.
Florida saw the highest increase in property sale prices by quite some pace, with the average home now selling for $385,157. The represents an increase of 35.16% from 2021. Georgia came in second with a 29.55% increase over the same period, while North Carolina had the third highest increase with a 29.48% jump from 2021.
frist, baby.
From Fox Business:
Mortgage rates tick up, homebuyers are not deterred: Freddie Mac
The average 30-year fixed-rate mortgage increased to 6.71% for the week ending June 29, according to Freddie Mac’s latest Primary Mortgage Market Survey. That’s up from the previous week when it averaged 6.67%. A year ago, the 30-year fixed-rate mortgage averaged 5.7%.
The average rate for a 15-year mortgage was 6.06%, up from 6.03% last week and up from 4.83% last year.
The slight shift marks another week that rates remain within the 6% to 7% range. However, a recovery in home sales may indicate that buyers are accepting the higher borrowing costs as the new normal, according to Freddie Mac Chief Economist Sam Khater.
“Mortgage rates have hovered in the six to seven percent range for over six months and, despite affordability headwinds, homebuyers have adjusted and driven new home sales to its highest level in more than a year,” Khater said. “New home sales have rebounded more robustly than the resale market due to a marginally greater supply of new construction.
“The improved demand has led to a firming of prices, which have now increased for several months in a row,” Khater continued.
Doing research yesterday on a high end house in Woodcliff Lake. Not a single sale over 2 million in the last 6 months in that town. A couple of homes with tax assessments above 2 million listed around 1.9 and not selling. Property I am working on sold for 1.83 in 2006. My current estimate of value is 1.65.
Despite the run up in values since 2020, not every segment of the market has seen the same level of appreciation. Luxury home market in North Jersey does not follow the same rules as the rest of the residential market.
Study Says New Jersey Home Sale Prices Have Jumped Almost 18% in Two Years.
Are we close to a 50% rise in the last 4 years? If not, wait 6 months and we’ll be there. I’d price my house just under 7 digits in price. Best and final by EOD. Can’t afford it? May I suggest Mill Hall, PA as an alternative.
Luxury home market in North Jersey does not follow the same rules as the rest of the residential market.
A niche market, specialized. But soon enough, the $1 million plus house will be a 4/2 cape in Saddle Brook.
Eddie,
Sounds like you should have spent some of the money you hoarded and bought a couple dozen over the last few years.
Additionally, two generations from now, a house will be given to you based on your ability to pay the property taxes. The houses will be ‘free’. In 50 years from now, that 4/2 cape will have a property tax of $60,000 per year. A real bargain. Your monthly payment will only be $5,000 per month to ‘own’ your house. There will be no such thing as having equity in a house. Oh, but you will be responsible for repairs and maintenance. Houses will become a mish-mosh of hidden, shoddy and really shitty work and materials. Think of the pleasant aroma of a roadside motel room adorned in 1960s décor, that’ll be your new ‘home’. Enjoy! I’m sure an addendum will be added to Directive 10-289.
Joseph, a 48-year-old network engineer from Texas, never set out to work three full-time remote jobs at the same time.
But last year, he earned a combined $344,000 doing just that, according to documents viewed by Insider. While the stress is starting to take a toll on him, he said the extra income had made a huge difference for his family and that he planned to keep it up as long as he could. In August, for instance, the extra income helped him pay off the remaining $129,000 on his mortgage, according to a document viewed by Insider.
In early 2020, when Joseph had one job, which paid $117,500 a year, he accepted a new remote role in the IT field with a $120,000 salary. But before he was out the door, he said a colleague convinced him to stay and try to work both jobs at once.
Joseph said he was doing only four to five hours a week of “actual work” in his position at the time, which made him think this was feasible. And if it became too much, he knew he could always quit one of the jobs.
“I hadn’t really heard anyone doing this before,” he told Insider. “My colleague mentioned it and I gave it a shot.”
He said he started working the second job that May, which initially required 30 to 40 hours of additional work a week. Roughly six months later, his new company announced a strategic shift that Joseph feared would put his role in jeopardy. He began looking for a new opportunity.
But by the time he accepted a third job, in February 2022, a full-time IT position that paid $120,000 a year, the workflow of his second job shifted from 30 to 40 hours a week to roughly five to eight.
So he decided to try and juggle all three jobs at once.
“Job two got so easy and was still 100% remote, so I kept it while I got job three,” he said, adding: “I hung in there because the pay was good and I wasn’t really doing anything.”
Today, Joseph said, he typically works roughly 40 hours a week across his three jobs, in addition to a few hours two to three evenings a week. He worked at the third job until September, when he accepted what he called a “new job three.” He started in October, earning $125,000 a year in the new role.
Every time he took a new job, he fully intended to dedicate all his time to that role and leave the others behind, Joseph said, but “it just seemed to work out that I could do both or all three.”
Joseph’s real name is known to Insider but has been withheld for his fear of professional repercussions. He’s one of many Americans who have taken on additional work partly because of high inflation. He’s also among a smaller group of white-collar workers secretly holding multiple full-time remote jobs to, in many cases, double their salaries.
But the window to pull this off may be closing, as many companies are calling remote employees back to the office and listing fewer fully remote positions. Others, particularly those in the tech industry, have laid off workers in remote roles.
And as knowledge of this phenomenon grows, some members of the overemployment community are worried they’ll eventually be found out. While holding two jobs at once doesn’t violate federal or state laws, it could breach some employment contracts and get people fired. It’s already happened to some workers.
He worried about the morality of it, but the financial freedom was worth it
At first, Joseph said, his wife was not a fan of him working multiple jobs and thought it was morally wrong. But he persisted and said his wife was now OK with him deciding how long he would continue this lifestyle.
Sounds like you should have spent some of the money you hoarded and bought a couple dozen over the last few years.
I need the money to buy Chex mix for the Gen Z’ers. They’ll have to chirp like birds on my front lawn as I toss it to them.
Remote work is such a joke. 120k for 5 hrs of work? 3 jobs working 30-40 hrs a week total? And then f’ers in the corporate world have the nerve to rag on teachers?
I knew this was happening the entire time, but I was told I know nothing because I don’t work corporate. Sure. A few people work really hard and carry the boat while most do bare minimum or nothing.
Again, I love when I hear people defend it as they claim they are working more since they don’t commute. Lmfao. Sure. You are telling me that you are fighting tooth and nail to stay home BECAUSE YOU WANT TO WORK MORE HOURS?!! Stfu. Stop bsing. I wasn’t born yesterday.
The boss is a boomer and doesn’t get it when it comes to remote work. Oh, no, hunny. They get it. They realize they are paying people 120k to sit at home and they have no idea wtf they are doing. No wonder they want out of offering remote work. Who could have seen this coming (dripping in sarcasm).
My child is a Gen Z. Although I normally like you, I don’t appreciate this comment.
My child, and other kids that haven’t even left high school yet don’t deserve to be given the “America” that you are proposing as their future.
I watched as the Gen z group risked their lives for you old goats during Covid. I was in the middle of that. They rolled your fat old azzes, wiped them, and kept you alive so you can talk like this.
This post of your speaks volumes about you, and your generation. It’s clear to me that it is your generation, it’s greed, it’s narcissism, that has placed America where it is and that includes the “Gen Z’s” that you loathe so much.
Fast Eddie says:
July 2, 2023 at 8:53 am
Sounds like you should have spent some of the money you hoarded and bought a couple dozen over the last few years.
I need the money to buy Chex mix for the Gen Z’ers. They’ll have to chirp like birds on my front lawn as I toss it to them.
In 50 years from now, that 4/2 cape will have a property tax of $60,000 per year.
Where is this money all going?
To pay boomer debt, that’s where.
Okay, maybe I’ll let them use the bathroom, too. ;) I’m kidding. Relax. I have a Gen Z kid, too. lol.
Laugh or answer the question. Wayne offers a lot for the price. Find me something similar in Florida for the value.
No One says:
July 1, 2023 at 10:10 pm
“Find me a location in Florida that has all that Wayne has to offer at the same price point as Wayne.”
Hilarious provincialism!
GP,
America is the quintessential land of liars and con artists. Just read HMB’s post from yesterday. Your so called “Fellow Americans” are busy outsourcing your jobs, trying to bang your wife, or at church this morning after shaving both of their janus faces.
Yes, as you pointed out, they are liars. They aren’t working more. Well, maybe a small percentage of them. I’d wager the majority have a defective BMI and a spouse that works for the government for the benefits-but then whines like a Plymouth rear axle when he has to pay taxes.
Place is a cesspool where money is the only thing that matters. Too bad I didn’t have parents without ethics, I would have been better prepared to screw my fellow Americans the way they like to do it to each other. It’s amazing to watch how they justify their actions, and then when someone loses their sh ite they seem all surprised and “victimized.”
Enjoy your fourth. I will be working while you are busy at your party, waving your flag, and at the same time writing your party off as a business expense so I can pay those taxes with the money I made fixing your broken ankle when your drunk azz falls down the stairs.
Eddie,
I’m not a man of humor, not anymore.
The days of laughing are over. With rare exceptions.
GP,
You will see the value of Florida when you have a large enough pot to piss in.
Just wait till you retire and have to pay the salary and pensions of teachers and cops with your retirement money and they tax you.
You will flee, just like your predecessors did, and avoid paying your fair share, leaving it to the youth behind you. As an American, you will find a way to justify your actions, or you, like most, will only care about yourself, as this is the land of the Marlboro Man.
Eddie,
It’s not funny when this is their future. Laughing at someone’s inability to purchase a home to live in when it is the base of the triangle in Maslow’s theory is not a joke.
I give the French credit for what is happening in their country right now. Cop executes a child for no reason. Thanks to a camera, we see the truth as the police lied.
Oh, and America, financial war is real war. And civil crimes should be treated as criminal-not letting those off the hook with “fines.”
Phoenix,
By the time I retire, the retirement locusts will have moved on to another location, as the current generation of retirement locusts will leave nothing left except their debt.
Fast: The Millenials and Gen Z are going to come for the Boomers and Gen X , with pitchforks and torches. Our generation/s has made a mess of this country.
Can’t happen soon enough.
3b says:
July 2, 2023 at 10:12 am
Fast: The Millenials and Gen Z are going to come for the Boomers and Gen X , with pitchforks and torches. Our generation/s has made a mess of this country.
Phoenix,
Going to hang with a buddy of mine tonight who I have not seen in 6 months. House is the Wood and demanding wife. Edge of divorce several times bc did not earn enough for country club…but things work out for those people in this society when markets never go down (years of down, not 6 mo little blips) Everyone is happy, money to be invested from all sides and he gets new job last month making 75% more. He will now pay his daughter’s 300k plus student loans at private university out of pocket while hosting private HS grad parties at restaurant for 50 people. To quote, the Knight Templar in Indian Jones “[we] chose…poorly”. The Fed’s rain filleth the cup for some and drench others in a cold bath.
How to get the frogs to accept their future cooking in the pot.
https://www.nytimes.com/2023/06/30/realestate/apartment-rentals-sharing-economy.html?action=click&algo=bandit-all-surfaces-shadow-lda-unique-time-cutoff-30_diversified&alpha=0.05&block=trending_recirc&fellback=false&imp_id=1315794292916654729&impression_id=b92708df-18e3-11ee-99bb-715bbc58b6b5&index=7&pgtype=Article&pool=published-assets-db-4-ls®ion=footer&req_id=5142248321629161449&shadow_vec_sim=0.10399951113711609&surface=eos-most-popular-story&variant=0_pers_engBandit
Bystander,
My ex is again trying to steal vacation time from me, threatening to call the police on me as a “kidnapper” when I took my vacation where it was added to my weekend off.
She claims “you only get 7 days”
Yeah, 7 days, plus my weekend.
No, not to her, she claims I forfeit my weekend if I take my week.
So now, when I have my vacation, I may have the PoPo breathing down my neck, as they always see the wife as “victim” and the child as someone they have to “save” from the “Bad Man.”
At least that guy is lucky, hey with his raise she will stay moist and won’t go off monkey branching until the next downturn.
LA Times released a poll last week and 40 percent of California residents are considering leaving the state. That is a big number.
Bystander: Sounds miserable. If I were your friend I would not put up with the demanding wife, tell her to get a job, or a better job, or to go scratch. Even with his increase in salary, he will just be mimicking the really wealthy people. And, funny enough I know quite a few truly wealthy people who despise the whole country club scene.One is an avid bowler!! As for your friend I would guess he is perhaps around 50, what happens if/ when the economic goes bad, and it will at some point, and the high paying job goes away. I don’t know why men and women as the case may be put up with this crap.
Yesterday I was at CVS. There’s an elderly woman picking up a prescription. The tech asks her for date of birth. 12-10- I’m expecting 32, maybe 42. Nope. Year was 61. What kind of life do you have to lead to look like your mid to late 80s when you’re 61. Even her arms were all wrinkly.
Sorry, man. I’ll never pretend you understand your personal hell. I can only hope to never fall into it. One time divorced from a woman who was Brooklyn psycho. She would have made my life a living mess. I will also find out tonight about a friend (more his than mine) who has entered a circle of hell with divorce. Two young kids under 10, put all money in cough “prestigious” 750k NJ home with 20k tax bill in 2020. Now she wants equity and he makes 150k tops. Not a dime left with lawyers. Apparently at 50, he has no retirement account and wife bringing lawyers to keep her 401k. You are not alone.
She even had the rolled/stooped shoulders some people in their 79s and 80s get.
From someone who has gone down this road, his check engine light is on. If I could do it again no way would I wing it and hope I made it to my destination. I broke down in the middle of Camden and was ambushed.
There won’t be a next time for me, but if there was, as soon as that light flashed, I’m stopping at the next dealership and dumping that crap asap.
“demanding wife. Edge of divorce several times bc did not earn enough for country club”
“If I were your friend I would not put up with the demanding wife, tell her to get a job, or a better job, or to go scratch.”
Bystander
That’s why ex is brilliant. He married someone who makes a lot
More than him.
3B – re: “40 percent of California residents are considering leaving the state.”
Did you not hear? They all want to move to Wayne NJ..
Juice,
Haha.
Extent of my humor today. Now I’m out. But TY.
Juice: Good one!
Probably why she is still with him,
Cheaper to keep him.
Hold my beer says:
July 2, 2023 at 10:47 am
Bystander
That’s why ex is brilliant. He married someone who makes a lot
More than him.
3b,
I don’t envy him but I do envy how easy his job appears for the money. Lots of free time to travel CA after meetings. He is a good guy but a salesman, BSer through and through. I doubt either of them have been faithful. She is a snot with a drinking problem and he cheated on every girl for 30 years we have been friends. But, I’ve all but given up that there will be a day of reckoning for the prudent, like many here. I think COVID bailout was the last hurrah to bifurcate the haves from have-nots. The system only lives to support itself and those in power. Some jobs are front and center at ensuring the multi-million/ billionaires always get fed. Those are all that matter in this country now. Chose a profession not showing fancy graphs with green lines going up? Get back to the f-ing mines. You should have changed careers..blah.
I’m beginning to think that for women the house is the most important thing to them when they marry as somewhere in the back of their mammalian brains they know any money invested there they will have access to.
Then have a child to legally lock you into your nightmare.
Saw an article about 2 lesbians who wanted a neighbor provide them with sperm for a child. Asking on a Dear Abby type article.
Abby tells them they should see a lawyer to protect their rights. Doesn’t suggest a sperm bank to them. Worse doesn’t suggest that HE sees a lawyer as that man has way more to lose then the two lesbians.
Here is a book, you can’t get it anymore. Bought it on Amazon, it’s a how to guide.
Without a doubt, follow the instructions as it tells you, and bang, this guy is going down like being shot with an AR.
Humor me, and read the reviews:
https://www.goodreads.com/en/book/show/38607065
Ex hit one over the green monster in bottom 9th, down 1. Good luck finding a high-earning, attractive woman who does not judge her man on his ability to out earn her. The women who I know can’t handle that one at all. Scott Galloway nails this sh&t. Younger women are lapping younger men at every turn. They will not marry uneducated, low earners. They would rather have affairs with married successful men, knowing their progeny have good genes.
Investment idea? Rich, wealthy sperm donors. I won’t ask how you got it.
The young nurses where I work are stalking all of the residents on social media. That is not surprising. What is is that they are even stalking the future medical students before they even get to us.
Hey, the early bird gets the worm.
They have tasted work and realized they don’t like it.
Bystander: Does not sound like a happy life for either one of them, he cheats she cheats, yet she wants the country club , what is the point of it all? As for the rest of your post I don’t disagree. It’s all just a joke.
They would rather have affairs with married successful men, knowing their progeny have established bank accounts and real estate that they can use the legal system to take.
Kevin Costner. Legal document- prenup-she agrees to leave if she divorces.
She then asks for divorce, doesn’t leave, doesn’t abide by agreement, but she “legally” isn’t being forced to leave.
See how the laws work. They don’t. Not the cops, judges, attorneys, none of the above.
“with liberty, and justice, for all.” Bull shite statement, same as “all men are created equal.”
Enjoy your flag waving.
DailyMail can reveal Hunter Biden’s reckless driving history through photos he took himself and uploaded to his abandoned laptop. Hunter took a photo from behind the wheel of his Porsche going 172mph while on his way to Las Vegas to party with prostitutes in 2018. The president’s son also pictured himself smoking crack while driving through a residential area to the airport in June 2018. He crashed a rental car in Palm Springs and lied about the accident to his insurer in 2016 while on a 12-day bender.
Phx,
It is amazing how stuff gets covered up when rich. All about protecting their family name and ego. I get alot of people following Ray Dalio on LI. He opines on everything, including how to be a good parent. Guy says that facing truth is the paramount virtue. It is awful to lose a child but I have to wonder how truthful the rich are when their own children are heading on wrong path. Here was the ruling from coronor. Tell me how you drive over the barrier at high speed, through a parking lot and straight into a Verizon store “accidentally”.
GREENWICH — The death of Devon Dalio, who died in a fiery car crash into a retail store in Greenwich last month, has been categorized as accidental by the state Office of the Chief Medical Examiner.
Dalio, 42, died of smoke inhalation and thermal injuries in the Dec. 17, the M.E.’s office said Thursday afternoon. No other information was released on the crash.
Phoenix
Who among us hasn’t driven a Porsche over 170 miles per hour to party with prostitutes.
Phoenix
Was the series House inspired by you?
I had a roommate in college that used to order dominoes for apartments the people had gone away for the weekend. He would hangout in the courtyard waiting for the delivery man to turn away from the empty apartment and then offer the guy $5 for all the pizza he had ordered
https://www.dailymail.co.uk/health/article-12244231/Startling-comparison-whats-vs-UK-Dominos-pizza-shock-you.html
12:19 When I was in grad school I owned a 914 that my dad had given me.
It had a newly rebuild flat 4. That little red car was a ‘poor man’s Porsche’ by definition, but everywhere I went people wanted to talk to me about it. Most assumed I was rich as it was in pristine shape.
That summer I took a job at a Girls camp in Poland ME and was teaching fine arts to the daughters of the Lipton tea family among others. We were a select group of male counselors from across the Country, me and the Water Ski instructor represented Florida. I especially became friendly with the two dudes from Dallas. We went out every night in the woods with female staffers. I feel in love twice there. Staff was a 6:1 ratio of men to women. The Ex-CEO of London Fog owned the place.
My batting average went way up that summer. In fact I got a letter from a girl I’d met earlier when she was down in FL for Spring break. Camp ended I and I decided to drive to Chicago from Maine just to see her. She was an ex-Ford model who went to college and was now shaped like a normal woman. 5’10” and built. Hung out with her up at her apt in Champaign and later accompanied her home to Blue Island. I eventually got chased out of there for leaving a used condom in her garbage can in her childhood room…..
Well back to Tampa. I rarely exceeded 90 mph
So, I talked to my neighbor who is in Financial Modeling. He said, the homebuilders have an unheard of percentage of the market because no one is listing their homes.
Speaking of Florida, Gator Jr. just received his 6 AP exam grades. He took 6 courses this year including Physics, Calculus and English Comp. He passed them all plus two more last year, so that’s 1 year of college done. Even more impressive, h emanated to get the grandparent in-state waiver which results in us getting to pay in-state tuition for him. All of a sudden college just got dirt cheap. Now a top 5 public and even ranked higher than BC in the latest Money.
So not only did Gator and I extoll the importance of academics to our next of kin, he realized the value of an affordable education. I just bought for him a really nice electric scooter and we are giving him the CX-9. He is saving me 100s of thousands. Our OOP should be around 22K a year for three years.
Off to Vegas from Seattle. B
Phoenix has clearly demonstrated that America sucks, but I am not sure where else is really, I mean really better? I thought maybe Europe was better but they seem to react exactly like us when faced with similar situations. At least in the states you have 50 state cultures you can choose from and many different climates, etc.
1:55 love it when a plan comes together!
Congrats Lib. That is great. I hope he gets to enjoy himself too. Sounds like a serious kid.
Lib,
Congrats! Love it when a plan comes together.
Lib: Congrats to you and Gator and of course to your Son. He is a fine young man. All the best to him, and all of you.
1987: Maybe it’s because the US lectures and pontificates to the rest of the world as opposed to Europe, or maybe Europe is so much older and realized earlier it’s BS. Or, maybe it’s just an overall decline of the west in general. What ultimately might replace it who knows.
It’s pure comedy when you think about it. People complain about America, but what is the alternative? You are not getting better than this on avg. Sure, some tiny pockets in the world measure up, but for the most part, America on avg is hard to beat. It really is. Esp a place like north jersey (this includes monmouth when I talk about north jersey)….show me a place that offers more? In terms of living, this is one of the best places to live in human history. Everything is at your fingertips, and it’s ridiculously safe. Not finding anything like this anywhere else.
Laugh at my wayne comments all you want. It’s a great value if you can hold your nose and live in passaic county as opposed to the prestigious county names. Access to everything in Wayne…even a wholefoods. Show me how many better values are at there based on the cost of wayne property and what it offers. It’s not easy to beat. Not because I live there, but because it is the truth.
1987 condo says:
July 2, 2023 at 2:46 pm
Phoenix has clearly demonstrated that America sucks, but I am not sure where else is really, I mean really better? I thought maybe Europe was better but they seem to react exactly like us when faced with similar situations. At least in the states you have 50 state cultures you can choose from and many different climates, etc.
And if I am blowing smoke…show me the better values out there.
Shussshh!!! We can fit in 15 million Californians!!
Wayne population
54,576 (2000)
54,838 (2022)
People leaving CA? Traffic tells me we can spare a few hundred thousand more.
BRT- “homebuilders have an unheard of percentage of the market”
Has to be townhomes….lots and lots of them
Juice: Even on the side of GSP and Rt 80. Saw on yesterday on the GSP around the Clifton. exit on GSP, townhouse window looks out onto to the back of a billboard sign.
Juice,
Take your town for example. Middletown is a great town. You are not going to find many better places to live and raise a family. Are there good towns in every state? Sure. Do they offer as many international airports options as you get here in nyc metro? Things like this, people take for granted.
Laugh at BTC, but best performing asset this year from the big boys.
“In the first half of the year, the crypto market dealt with the effect of the FTX collapse and last year’s collapse of several crypto-related firms. During this period, the industry also witnessed renewed institutional demand for BTC and the emergence of Ordinals on the blockchain network.
Amid these events, BTC’s price nearly doubled from around $16,000 to above $31,000, outperforming other significant assets like gold, S&P 500, Nikkei 225 index, and others.”
Selling your home and moving into a motor home, then parking it on the street in California isn’t exactly moving out.
Has to be townhomes….lots and lots of them
Everywhere! Either they’re plowing tracts of pristine land and building pods on top of each other or they’re leveling city blocks and going six stories high. Pack ’em in!
West Long Branch
2020: $534,618
2022: $916,131
Percent change: 71.4%
Want to talk bubbles? What’s the draw of Florida and its neighboring states….cheaper prices. With the rapid rate of price increases in these southern states, only a matter of time they shoot themselves in the foot. Would you really pay more money to live in carolina or florida as opposed to nyc metro/Massachusetts? And please leave politics out of the equation.
“New Jersey’s overall average sale price of just over $338k ranked behind only Massachusetts in the study, which saw the lowest increase over the last two years but still clocked in at coast-leading $501,215.
Connecticut came in just behind the Garden State at ninth place with a 17.78% increase and a $309,127 average home sale price. New York saw a 15.93% increase over the same time frame, while Pennsylvania’s home sale prices in 2023 jumped to an average of $248,121.
Florida saw the highest increase in property sale prices by quite some pace, with the average home now selling for $385,157. The represents an increase of 35.16% from 2021. Georgia came in second with a 29.55% increase over the same period, while North Carolina had the third highest increase with a 29.48% jump from 2021.”
Couldn’t ever live in Florida.
Wouldn’t mind a place in the keys, but really, the keys aren’t Florida for the most part.
It’s peak NJ now with the warm weather get out there and touch grass it will be fall before you know it.
Was just hit with a $147 Amazon Prime subscription fee on my Amazon Prime CC. I thought membership costs were refunded as part of the card, but now that I reviewed the docs this is not the case. Sigh.
Why am I paying for Amazon prime?
Juice: An older guy back in the day always used to say, the summer is over after 4th of July. As the years go by, I think he might be right.
Personally, I need four seasons. I think I asked about Asheville, NC on this blog before. It’s got mountains which I love and seems to be an option. I’d like to explore the Nashville area but I know that whole metro area has gotten expensive. Am I staying where I am until I reach old age home entry (if I make it that far)?
Bear Market Rally Faces Its First Big Test
The 2023 bull market hasn’t really been tested yet even after a banking crisis erupted in the midst of it. Expect that to change in the second half of the year. Three issues will put this rally to the test: a burgeoning earnings recession, a slowing global economy, and receding liquidity from quantitative tightening amid a slew of Treasury issuance.
This quarter has been better than expected for investors
While heading into the back half of the year, we saw the strongest stock-market selloff in three months. There are two big questions on investors’ minds. The first is whether the markets can go back to rallying for the rest of the year like they did throughout most of 2023. The second is whether a recession emerges in the latter part of the year to upset this rally.
My own view is that the bull market in stocks will be challenged on three fronts: earnings that have already been weak, an economy that is slowing globally and liquidity as more money gets pumped into Treasuries. Let’s talk first about the market and the economy in terms of how we got here, not just through the prism of what’s to come. I enjoyed the lookback I did at the end of last quarter so much I want to make it a practice going forward. So that’s what this week’s the Everything Risk is about.
Investors are worried about a recession for good reason
It’s ironic. The market has begun to falter and only just very recently has the 2023 bull market in stocks gotten investors to go overweight equities — so palpable was the fear of a recession. Let’s start there.
Seemingly, we’ve been predicting a recession for almost a year now as the Fed has piled on the rate hikes. And it hasn’t come. Is it any wonder stocks are in a new bull market? But the fears are still there. Morgan Stanley’s Chief US Economist Ellen Zentner, for example, said recently that “a question that came up in nearly every client meeting was when could we see the first negative payroll print?”
How do we put this into context then?
Two things. First, there’s the very real fact that the Fed has raised the Fed funds rate at the fastest pace in four decades. It makes sense to expect some negative fallout from that. But there’s another factor and that’s the data. They have been flashing recession for many months, especially when you look at market-based recession predictors like the yield curve or the Fed’s favorite, the current 3-month yield versus the predicted 3-month yield.
Here’s a good chart on this. It shows my early warning signal, the spread between 2-year and 5-year Treasury yields, as well as the more traditional market-based recession indicator, the spread between 2-year and benchmark 10-year Treasuries.
A year ago, both these spreads were positive, showing the upward-sloping yield curve you see when the economy is expanding. Now, they’re deeply negative, suggesting recession is coming soon.
The same is true for the Fed’s favorite market-based recession early warning signal. That’s the difference between the 3-month yield on Treasuries today and the predicted yield in 18 months. This near-term forward spread is now 1% to the minus for the future rates, versus more than 1.5% to the plus a year ago. That’s a huge move toward signaling recession.
So, it’s not just our imagination. The market is telling us the recession is coming.
The labor market data have been tricky
What’s holding the economy up? The labor market. That’s often the last thing to give way as the economy slips into a recession. So, in prior recessions, weekly jobless claims were very telling as recession approached. Moreover, because the numbers are usually only revised minimally in the two weeks after they first appear, the data set has been a very accurate real-time indicator.
Unfortunately, this may be less so the case now. Not only did some states experience large numbers of fraudulent filings, which distorted the numbers, but the seasonal adjustment factors have changed, sometimes significantly, because of the lingering effects of the pandemic. For example, last summer initial jobless claim numbers were rising at an alarming rate — so much so that a recession looked likely as soon as in the fourth quarter of the year. But those numbers were revised down significantly — both the seasonally-adjusted numbers and the raw figures thy were derived from.
Since the pandemic began, economic data simply haven’t been as reliable, whether the actual raw numbers or the seasonal adjustment factors. We may, therefore, be getting a distorted picture of the economy.
That said, right now the jobless claims numbers are going up a lot — both for initial and for continuing claims. Knowing the data are not as reliable as in years gone by, I still tend to think the trend is reflective of a softening of the labor market. My hope is actually that the data are softening because it is more likely to keep the Fed from overdoing it.
Did the 2013 Taper Tantrum scar Powell ?
Speaking of overdoing it, how did we even get here? The 30,000 foot view says that Jerome Powell was apprehensive about choking off the economy in 2021 because of his bad experience in 2013 as a Fed Governor influencing Bernanke to taper asset purchases. Powell’s delay arguably led to inflation. And now the potential for a hard landing is greater as a result. Mexico acted much sooner — a year earlier than the Fed. My colleague John Authers points out they don’t have the same inflation problem as a result.
By the way, the transcripts of the 2013 FOMC meetings are finally out now. And I looked at what Powell and others were saying. In March 2013, then-Dallas and Philadelphia Presidents Fisher and Plosser were arguing for a taper of large-scale asset purchases known as quantitative easing. By the next meeting, which ended on May 1st, Powell was fully onboard with that. In his very first comments in the meeting he said summarizing his thoughts
“I believe that we ought to take the next plausible opportunity reduce the pace of purchases, and I hope that time will come in June. I will leave further discussion of the timing for the next round. Thank you, Mr. Chairman.”
The rest is history. Then-Fed Chair Bernanke immediately told the press the Fed was considering tapering. And the market volatility that followed was immense. This “taper tantrum” may have scarred Powell and left him vulnerable to a more dovish interpretation of events, causing the Fed to be late to raise rates. That error forced the rate hikes to be much more aggressive as a result.
By the numbers
40%- The appreciation in the Nasdaq 100 since the 2022 lows
We may be in the eye of the storm
The aggressive monetary tightening seemed to have no consequences at all until March, when Silicon Valley Bank and two other regional banks failed. When I did the late March retrospective, even though the regional bank crisis was still simmering, I thought it would die down. And it has done. So I continue to believe a banking crisis won’t be the death knell of this economy.
The markets have seemingly taken that view onboard, as the S&P 500 is up nearly 10% since then. And the Nasdaq 100 is up over 15%. The Nasdaq part of that makes sense to me too because in March I wrote about us returning “any growth is king” world that favors growth over value. But the overall market is rallying too.
Here’s what I think has happened. Earnings were down in Q4 2022 and Q1 2023 relative to year ago levels. And we’ve had a ton of regional bank warnings for Q2 2023. That all speaks to shares not doing well. Nevertheless, with the debt ceiling paused all during the first half of the year, a lot of money went into stocks that would otherwise have been committed to government bonds.
Moreover, you add together fears of a recession and an artificial intelligence boom and big tech suddenly looks good. With big tech winning out in the growth over value trade due to recession fears, the overall market was lifted by their large weight in the indices.
For most of Q2, the rally was narrow. But after the regional bank crisis went away there was a palpable sense of relief. And so, as the rally has progressed, it has widened out as investors deploy more money to equities. That suggests money managers have been dragged into committing more and more capital to shares despite fears of recession simply because they don’t want to underperform.
I think this is likely just a bear-market rally rather than a sustainable move. We are in the veritable eye of the storm, rather than free and clear. A number of things over the past few months make me think that, including the contrary indicator of investors moving to overweight equities just when earnings are faltering.
Jim Reid at Deutsche Bank noted on Monday morning that “investors had moved overweight US equities over the prior couple of weeks for the first time since early 2022. In their updated report published on Friday this overweight moved from the 64th percentile to the 73rd.” He then went on to say “we’re now in the 85th percentile of periods since WWII without a 3% drawdown in the S&P 500.”
Translation: this “any growth is king” rally is on its last legs. So, contrary to my March lookback in which I said big tech will get bid, I now think that rally is exhausted (except for market leaders). The crypto rally also looks vulnerable because it is emblematic of the widening out from big tech to other high beta investments, though I am less confident of that call.
Overall then, think of this bear-market rally as being in the eye of the storm. We got the front side of the storm with rate hikes and all assets selling off in 2022. Then it looked like the coast was clear and the sky was bright. But with earnings still under pressure, especially at banks, the Fed promising yet more hikes and real-time data showing the labor market weakening, we’re likely to get another wave of downward pressure on asset prices. The bear market rally will have sucked a lot of people into magical thinking, making the coming downdraft that much more abrupt.
So what did I get wrong last quarter?
I looked at what I was saying at the end of March. And because it is very much in line with what I want to say today, the overall message that Fed boss Powell is losing the fight on both inflation and the economy is still intact. But there are other pieces since then that show that Q2 was better than I thought it would be.
For example, when I talked about cash being king in early April, I was thinking of investors staying overweight cash until the economic danger had passed. My thinking was that, sure big tech could rally, but the combination of a credit crunch, potential recession and poor earnings would keep that rally narrow. That’s not how things have proceeded.
What I’m watching
So I’d sum up Q2 as better than expected, both on the economic front despite the regional bank failures and Fed rate hikes and on the investing front despite what appears to be an earnings recession.
While I think this is a bear-market rally, the test is now as to whether that rally has legs. And for it to be durable, we’ll need to have a soft economic landing because equities don’t rally through recessions, they fall through them. It is wholly possible we escape without a recession. But I think that’s a low probability outcome given the economic data, the level of inflation and the Fed’s intentions to stamp it out by deliberately slowing the economy.
What I am watching now is the labor market. For me that’s the stronghold for the US economy. If it is finally breaking down, then we’ll be in recession soon after. Look for Thursday jobless claims. The data series may be flawed but it’s still our best real time economic signal.
I also want to watch inflation prints because that’s going to impact the Fed’s reaction function. Look for Friday’s Personal Income and Consumption data as a place to kill two birds with one stone. It tells us how well consumers are holding up and it also contains the Fed’s preferred measure of inflation.
Goldilocks would be a slowing economy and a softening labor market met by lower inflation. That might just put the Fed off more rate hikes. And if the slowing is gentle enough it might also help keep this rally going. But my base case remains a slowing into a recession with inflation still too high for the Fed’s liking. You combine that with the slow-moving credit crunch and an earnings recession and it still makes sense to look beyond US risk assets to Treasuries, cash or even Japanese equities until the coast is clear. And for US companies, that says the return of the “any growth is king” environment could have legs, helping Big Tech sustain its advance.
(Bloomberg) bloomberg.com/news/newslette…
Boomer – If you order say just 10 things in a year even small ones it pay’s for itself in shipping fees.
Posted by someone else, but accurate:
Total cringe. Oh my god just retire (Biden, 80; Trump, 77; JANET YELLEN, 76; Mitch McConnell, 81; Nancy Pelosi, 83; Bernie Sanders, 81; Dianne Feinstein, 89; Chuck Schumer, 72; John Kerry, 79; Hillary Clinton, 75; Patrick Leahy, 83; Joe Manchin, 75; Merrick Garland, 70; Chuck Grassley, 89; Ben Cardin, 79; John N. Kennedy, 71; James Clyburn, 82; Gerry Connolly, 73; Grace Napolitano, 86; Chris H. Smith, 70; Richard Durbin, 78; Bill Pascrell, 86; Mitt Romney, 76; John Carter, 81; Frederica Wilson, 80; Danny Davis, 81; Anna Eshoo, 80; Jeanne Shaheen, 76; Steny Hoyer, 83; Thomas Carper, 76; Kay Granger, 80; Edward J. Markey, 76; Marcy Kaptur, 76; Kay Ivey, 78; Angus Stanley King Jr, 79; James Elroy Risch, 80; Ronald L. Wyden, 74; Rosa DeLauro, 80; James Inhofe, 88; John Boozman, 72; Eleanor Norton, 85; Richard Blumenthal, 77; Rick Scott, 70; Maxine Waters, 84; Mazie Hirono, 75; Jack Reed, 73; Peter Welch, 76; Mike Crapo, 72; Deborah Stabenow, 73; Eddie B. Johnson, 87; Hal Rogers, 85, etc)
Why am I paying for
Amazon primeevery breath I take?Fixed it. :) We’re not exempt from anything and everything is astronomical in price.
You’ve got to be a sucker to buy into Nashville or anywhere near it.
I’d rather take my chances with a place that nobody is talking about, one that does not appear on any list at all, that is never, ever, ever, mentioned in the same breath as “great place to live or retire.”
Call someplace paradise, kiss it goodbye.
Look at the United Van Lines migration list – eliminate every place that appears on that list, either to, or from.
If you don’t need a job, good lord why would you go to any “hot spot” trading at a premium? This is for suckers. It is not arbitrage to sell in an overpriced metro, and then buy in an even more overpriced metro, even if the nominal is lower.
Grim, I presume the comment applies to buying now as opposed to buying previously, no? If true, doesn’t that comment apply to most markets right now?
Rich Liberals, who claim to help the poor do this instead. Good cop, bad cop, Repukes are the “bad cops.”
Money is is in a centrifuge and concentrating by the minute. Expect more class warfare fighing in the streets. Lose a job, have it outsourced, get sick, get divorced, go buy yourself a tent and sleep on the streets in CA till some cop beats or shoots you ending your pathetic life.
Happy Fourth,wave the flag. Remember all of those soldiers. They signed up in the miltary to become police officers. It’s how they become so good at shooting kids while they eat their hamburgers while on a date with thier girlfriends.
LOS ANGELES — A tax on mansion sales in Los Angeles was intended to raise millions to fight homelessness. It hasn’t quite worked out that way.
Instead, wealthy Angelenos rebelled, putting the brakes on sales of homes priced at $5 million and above — those targeted by the initiative — with the result that the tax has raised far less money than expected since taking effect April 1.
Revelins has a home listed in the Venice Beach neighborhood of L.A. for $4,999,000 — a price tag she freely admits is aimed at avoiding the $5 million trigger for the new tax. The three-story, 3,961-square-foot property is an “entertainer’s dream,” according to the listing, with a “floating staircase” and hardwood floors.
“That property is worth a little bit more,” Revelins said. “But if we listed it at $5.2, they would have to pay $200,000″ in taxes, money that Revelins says the city would squander.
Eddie,
You need to sell your cabbage dump – it’s not personal they all are – and move elsewhere before the mania dies down and you’re left with just the cabbage dump and no gainz.
I agree. Nashville is out. I don’t see much said about Asheville. But yes, don’t go after the so-called hot spots. I’m low maintenance so anywhere that has four seasons and some hills is a consideration. Certainly, an area of at least some type of middle class wealth would be preferable.
Doctors need to talk to patients about safe gun storage
By Dorothy R. Novick
Hey Dorothy,
MYOB. Doctors are already busy doing everything else while you type your dotard article from your stay at home job, laying on your couch, eating chips and watching the view.
Boomer,
When the time comes, I’ll be sure to brew a cauldron of Rheingold and cabbage and smoke a pack of Pall Malls before the open house. I want the full effect of nauseating price and a nauseating look in the eyes of Muffin Muppet.
Just drive to a state where you see a bunch of trailers. You will know then you are safely in a republican area. Buy 50 trailers with your hoarded cash, tear them down, and build yourself a compound, complete with a moat and alligators.
Gen Z won’t get past the allegators.
Fast Eddie says:
July 3, 2023 at 11:08 am
I agree. Nashville is out. I don’t see much said about Asheville. But yes, don’t go after the so-called hot spots. I’m low maintenance so anywhere that has four seasons and some hills is a consideration. Certainly, an area of at least some type of middle class wealth would be preferable.
Grim/ Fast: We were in Nashville in April, huge development since we were there 7 or 8 years before that. All apartments/Condos at least in the city. Many of them appear vacant at night, second homes, and or a lot not sold. I don’t understand why Nashville got so popular with its focus on country music. I would think that’s not something the sophisticated leftists would be interested in, and of course that may be stereotyping on my part.
Gen Z won’t get past the allegators.
They can sacrifice the chubby ones with sausage fingers to save the majority of the group. Though, how can one text and swim at the same time?
Nashville has a pretty solid healthcare industry base in addition to labels and publishers. It’s not just country music, but a lot of the back office music period was moved from high rent Los Angeles to cheaper rent Nashville.
Boomer: True, but I perhaps wrongly assumed it’s got a trendy buzz, with the music scene, and just don’t see country music appealing to the sophisticated people, either left or right.
Here’s my FL island
https://www.youtube.com/watch?v=ovgfWN8SiPU
3b,
Cousins just back from Nashville this week. It’s all types of music, not just country. Another cousin’s kid is audio engineer down there.
Nashville is Williamsburg South. It’s def not just country. It’s a hipster music scene for all. Think beer gardens and trendy rentals, townhomes.
I do know healthcare and a back office United Stats recorded/published music. I’m not taking the independents on Music Row South, but UMG, Sony, Warner.
Highly recommend from Bloomberg Podcast. Elites vs Counter-elites.
Everything we talk about here. Bypass the first 15 minutes intro – heavy scottish accent.
https://omny.fm/shows/merryn-talks-money/why-the-rise-of-counter-elites-spells-bad-news-for
” They can sacrifice the chubby ones with sausage fingers to save the majority of the group”
You just described Trump.
11:05 yeah…rIch LiBeRals … what a f’in douche bag
Boomer/ Fast: Understand on the all types of music, it’s one of the reasons I like it. My wife is a big country fan, has been for years, she would no way fit the stereotype of a country music fan, that many people have. We have been to bars on the side streets off Broadway, where touring bands for the Stones and other major acts come and play when they are not touring. And Nashville is a fun place, have never witnessed any trouble, and people of all races and ethnicities listening to country music as well. But, country is still a big part of the attraction for many people.
Yeah, one of the first things I do when I get into my rental in BNA is turn on a country station and enjoy the vibe.
I have spoken to a handful of employees, small sample I know, that said they are absolutely either 100% locked in or priced out, of their neighborhoods. No surprise there, but this wasn’t a recent event, this was already the case in 2018…
Good one,
I swear that guy sounds like Roubini. I wish there was a video feed so that I could confirm it was Nouriel wearing a faux moustache glasses combo.
Agreed. The keys are first class island living.
grim says:
July 3, 2023 at 9:30 am
Couldn’t ever live in Florida.
Wouldn’t mind a place in the keys, but really, the keys aren’t Florida for the most part.
Drop the mic.
grim says:
July 3, 2023 at 10:47 am
I’d rather take my chances with a place that nobody is talking about, one that does not appear on any list at all, that is never, ever, ever, mentioned in the same breath as “great place to live or retire.”
Call someplace paradise, kiss it goodbye.
Look at the United Van Lines migration list – eliminate every place that appears on that list, either to, or from.
If you don’t need a job, good lord why would you go to any “hot spot” trading at a premium? This is for suckers. It is not arbitrage to sell in an overpriced metro, and then buy in an even more overpriced metro, even if the nominal is lower.
Boomer: I saw it in Nashville back in 2014.
Fast: Millenials/ Gen Z might take it from the boomers almost boomers. Thank
I would always get a high floor office on Church street, had a birds eye view of the city, then the cranes came in after 2008. After all 2012 was at the trough the affordability, and it was dooable for a few years after, around 2018 is when people really started saying “oh my gosh!”.
What happened to leftwing? Long weekend at the beach?
grim says:
July 3, 2023 at 9:30 am
“Couldn’t ever live in Florida.”
Why, you’d miss the pot holes? You blue-state apologists are funny; in just the past few days on this blog you’ve heard first hand accounts of Florida’s numerous fintech job opportunities (from Fab), and Lib sending his kid to to Fla to attend it’s top 5 state university. You guys should be less worried about buying into red-state bubbles, and more worried about the desperate blue-state Dems enacting wealth/exit taxes that will make it near impossible for you to ever do so.
I’ve been to Nashville nearly every single year, sometimes 2-3 times a year, from 1999 to 2019.
What people experience when they go to Nashville today, is a very, very recent phenomenon. I listened to honky tonk and bluegrass downtown at Station Inn when nobody had any other business going downtown at night. Remember when the Hutton opened back in 2009, it was the first high-end hotel anywhere near there. Hell, I remember going to one of the first Predators games, when it was an absolute ghost town. I must have collectively logged MONTHS in that shitty Courtyard Marriott on Broadway, right outside of Downtown heading up to Vanderbilt. There was a stretch from 2009-2011 where I loved going, Patterson house recently opened and was one of my favorite bars anywhere.
Anyhow, just realize that the country western vibe down on broadway, that’s a very, very, very recent phenomenon.
Grim: Tootsies has been around since the early 1970’ s , and judging from the inside it’s much older than that. Grand Old Opry ( Wyman Auditorium) had county western western legends play there way, way back in the day.
Nashville over 550 miles to the ocean..No thanks!
Small,
Florida is a boom and bust market. Always has been. If you think it’s becoming the leader in the tech industry or finance, you have another thing coming. But hey, maybe this time is different. I wouldn’t bet on it.
My prediction for Florida. A lot of these neighborhoods they are building now will be future ghettos. Price appreciation prob went up too fast like always, and when it drops it’s going to lead to a lot of people abandoning these properties like it always did in Florida with every boom and bust cycle. Thanks to a rare combination of boomers retirement and the pandemic migration, this is the BIGGEST and MOST EPIC bubble in real estate that Florida has seen to date. You have to be insane to buy now.
Just remember. It’s like a ponzi scheme in places with high population growth like Florida and Texas over the past 10 years. So many of the jobs were tied to the massive construction of housing. When that ends, like it always does, see yaaa wouldn’t want to be ya.
This won’t happen to north jersey because nyc metro is like Tokyo. No more land and population density is the highest in the country. You won’t see the massive run ups like Florida, but you won’t experience the massive bust.
Juice: I would not live there, but fun to visit.
Millennials and Gen Z are less enthusiastic about having children than their parents.
Guess they finally listened to Boomers crying about the young kids having children they cannot afford.
No cheap labor for the Slilver Spoons in the nursing homes after all. Unless they can get over their racism and accept immigrants to do their azz wiping.
Nyc metro acts like the ultimate safety valve. Prices don’t fly up because this is the initial expensive location at the beginning of the cycle. As prices build up in this area first, it is quickly held in check by outward migration to these “cheap” locations. They drive the chit up as the economic cycle grows and money expands. And then it always ends with pain for anyone forced to sell as the cycle comes to an end.
Aka get the f out of Florida real estate while you still can. Take the money and run.
If you think no recession is coming and it will be a aafe landing, well by all means hold. Ignore my recommendation to sell.
Lake Lanier in Georgia.
Better than NJ shore.
I work with syringes all day at work, last thing I want to do is play with them at the beach.
That’s why nyc metro is also always the last to see the final gains late in the cycle. That’s when these outward migration locations (aka “it” “hot” locations) become more expensive or on par with nyc metro. People start switching back to nyc as it becomes a value again.
Rinse, wash, repeat…
Gonna need desalination plants in Florida soon enough. It’s already starting.
Businesses to start there:
Diaper manufacturing, bulletproof vests, alligator wrestling, Golf cart repair, STD clinics for Boomers, Tax evasion accountant, Total joint implant centers, Optometrists, gun store with attached booze shop.
Happy 4th
https://m.youtube.com/watch?v=UoMIF6f55WM
Florida challenges:
1. Housing price bubble
2. Resultant property tax bubble as taxes reassessed with new sale price
3. Home insurance rates doubling and tripling
4. 2025 condo law requiring actual reserves to be set up and collected. Condo fees to jump tremendously.
When did they stop raising rates in 2000 cycle? Think it was 2006. Took two years to see the final damage of that cycle. 2008.
Fast
The DFW has a big music scene. Almost every tour makes a stop here. Wide variety of restaurants and neighborhoods. The art district in Fort Worth is like a mini version of Austin. Some neighborhoods in DFW have Victorian houses while new McMansions are the most common house. Housing prices have almost doubled in 10 years but still much cheaper than Jersey. Not many hills though. North Arlington has some and there’s a town called cedar hill built on a hill the size of those small mountains in warren/basking ridge area. you will encounter snakes a few times a year. We have garter snakes living in our flower bed. But so far I’ve only run into venomous ones when I’m out fishing or hiking.
You will also have to replace your roof probably every 10 years from hail or wind damage.
Champlain Towers South is gone. But for 750k you can move into Champlain Towers North.
It, and the buildings around it, aren’t expected to collapse until 2025. Boomer didn’t want to pay maintenance fees, instead counted ever nickle from her ex with her bony arthritic fingers, having to start over once an hour due to memory lapses.
But you will purchase it, cause you wife wanted it.
Phoenix: Can’t say I blame them, over inflated house prices, ridiculous taxes, huge amount for child care, and throw in a few other items and there you have it.
Another suicide by train in Bergen Co, this time in Bergenfield. A 42 year old woman ran her car into a freight train last night.
Anyplace is paradise when your with the ones you love.
I have that embroidered on my dish towels.
Couple of new listings, one asking 145k more than sold price of two years ago. Another one some type of bank foreclosures, House had been empty for years. Asking 585k , no pictures, but listing claims kitchen updated. Sold for 180k in 1986, during the 80’ s boom. It’s hard on the corner of Kinderkamack Rd, and across from a strip mall and the diner, taxes are over 13k. Bus stop to port authority is right outside your door, not that commute to NYC is as important as it used to be. Anyhow, someone should grab these fabulous opportunities. Hurry, hurry!!
Agreed.
I see this in Walmart all of the time.
ExEx says:
July 3, 2023 at 4:20 pm
Anyplace is paradise when your with the ones you love.
I have that embroidered on my dish towels.
3b
Gonna be fun when they do the reval on all of the houses there.
This cop needs some love. Please give him some:
https://www.reddit.com/r/PublicFreakout/comments/14pkh35/man_tries_to_argue_with_and_then_gets_roasted/?utm_source=share&utm_medium=web2x&context=3
Traveling with drunk white female. Thanks for the delay during the holiday weekend Princess.
https://www.reddit.com/r/PublicFreakout/comments/14p979c/drunk_lady_gets_kicked_off_plane/?utm_source=share&utm_medium=web2x&context=3
Whew power went out for about 2 hours. Thankfully it’s back as I have family staying this week and I was thinking I might have to head out to a hotel to get away from them!!
I drank an entire bottle of scotch last night. I think I embroidered my liver.
ExEx says:
July 3, 2023 at 4:20 pm
Anyplace is paradise when your with the ones you love.
I have that embroidered on my dish towels.
I think this guy embroidered the Judiciary:
https://www.njcourts.gov/sites/default/files/acjc/GaryWilcoxComplaint.pdf
Phoenix: I saw that one , unbelievable!!
That judge is going to move out of NJ with a huge payout.
https://www.cnn.com/2023/07/03/us/harvard-college-legacy-admissions-lawsuit/index.html
Lol
To keep sleepyJoe awake perhaps?
COCAINE found at White House: Hazmat team evacuated 1600 Pennsylvania Ave on Sunday after suspicious white powder was found in library – and it turns out to be BLOW – two days after visit from recovering addict First Son Hunter
Happy 4th enjoy the hot dogs!!!
Joey Chestnut won the Coney Island hot dog eating contest again.. 63 this year beat the closest competitor by 20 dogs.
Joey Chestnut competes in 20+ events each year and holds 55 world records:
• Nathan’s hot dogs: 76 dogs & buns in 10 minutes
• Hard-boiled eggs: 141 in 8 minutes
• Glazed donuts: 55 in 8 minutes
• Pulled pork sandwiches: 45 in 10 minutes
• Taco Bell softshell beef tacos: 53 in 10 minutes
• Krystal hamburgers: 103 in 8 minutes
• Twinkies: 121 in 6 minutes
• Chicken wings: 413 in 12 hours
• Big Mac sandwiches: 32 in 38 minutes
• Tamales: 102 in 12 minutes
• Grilled cheese sandwiches: 47 in 10 minutes
• Ice cream sandwiches: 25.5 in 6 minutes
• Pepperoni rolls: 43 in 10 minutes
Florida Gov. DeSantis signs bill ending permanent alimony.
It elicited tearful testimony from members of the First Wives group. But it also spurred impassioned pleas from ex-spouses who said they had been forced to work long past the age they wanted to retire because they were on the hook for alimony payments.
Phoenix, your comment at 9:16 and the few thereafter were one of the better posts this year. I resonate with this so very much.
Eddie, your comment about sprinkling Chex Mix on the lawn as younger people struggle to fulfill their physiological Maslow’s needs is emblematic of the civil war that needs to happen. This country wasn’t built to be leeched dry by your chohort.
lol!!
SOURCE: The small bag of cocaine found in the White House Library just happened to be in the same room where Hunter Biden used his laptop. Immediately following the evacuation the Secret Service assumed it belonged to Hunter. The White House attempted to discredit reports from the Hazmat team that the ‘unknown substance’ was cocaine. The Secret Service did not collect fingerprints from the bag as they knew Hunter had left it behind.
https://www.dailymail.co.uk/news/article-12262549/amp/Secret-Service-preliminary-tests-reveal-COCAINE-White-House-Sunday.html
Eddie, your comment about sprinkling Chex Mix on the lawn as younger people struggle to fulfill their physiological Maslow’s needs is emblematic of the civil war that needs to happen. This country wasn’t built to be leeched dry by your chohort.
Okay, I think the 24 packs of water are on sale for $2.99, I’ll give them a half bottle each to wash it down. Whoever chirps like a bird the loudest gets a full bottle.
Happy 4th I’m spite of it all!
Cathie Wood’s ARK Innovation (ARKK) is back on top. And amazingly, it’s largely due to off-the-beaten path stocks not in the S&P 500.
ARK Innovation is again the No. 1 actively traded diversified ETF, says an Investor’s Business Daily analysis of data from Morningstar Direct. And that’s thanks mostly to 10 stocks — like Roku (ROKU), Palantir (PLTR) and DraftKings (DKNG) — all up more than 55% or more this year. Stunningly, eight of the 10 stocks driving ARK Innovation aren’t in the S&P 500. Meta Platforms (META) and Tesla (TSLA) are the only two ARK Innovation stocks up more than 50% that are in the S&P 500.
And that’s the big takeaway from ARK Innovation’s return to the top. Wood is outperforming mainly with bets outside the megacap techs that have driven the market higher all year. And finding less obvious stocks could become more important for investors looking to outperform.
“The FOMO trade might be here, but the economy is clearly feeling the effects of the Fed’s tightening cycle, and the consumer is weakening but has no trouble getting a job, so it will be interesting how the stock market’s back gets broken,” said Edward Moya of Oanda.
The fund’s willingness to go after smaller stocks is a gutsy move — amid a megacap rally powered by the “magnificent seven” stocks. But it’s paying off handsomely.
ARK Innovation’s outsize bet on Roku, a maker of video streaming gear, is a case in point. Shares are up 56.6% just this year. Shares are rallying despite the fact that analysts think the company will lose $5.08 a share on an adjusted basis this year, says S&P Global Market Intelligence. That’s even more than the $3.62 a share it lost in 2022. It’s also not represented in many major indexes, including the S&P 500.
But Wood is betting big on it. The stock counts as 7.3% of the portfolio, making it one of ARK Innovation’s largest positions.
Other ARK Bets That Are Working
ARK Innovation is best known for its Tesla position. And that has helped, too. The stock accounts for 11.6% of the ETF. That’s paying off handsomely, with shares up 114% this year.
But S&P 500 member Tesla is just part of the reason ARK Innovation is soaring this year. Just ahead of Tesla is gaming firm DraftKings. The stock, not in the S&P 500, makes up nearly 4% of ARK Innovation and is up 133% this year.
And then there’s Palantir, a data management firm. The stock, not in the S&P 500, is up 139.9% this year. Wood might hope she owned more: It’s a small slice of ARK Innovation’s portfolio at 0.9%. But Coinbase (COIN), up 99%, is another giant holding with a 7.1% weight.
It’s unclear if ARK Innovation and Wood’s hot streak will continue. But she’s definitely not piling onto the big-cap tech trade everyone else is.
Pretty got damn amazing. Killing it, and didn’t do it with what is driving the overall market. The hate for her is comical. She is one of the best. Glad she loves DNA. Ballie Gifford and ARK love DNA?….then that makes me feel good about my investment.
Oh yea, she didn’t do it with low rates either or by getting “lucky” on tesla…all the bogus claims from naysayers during last run. Boy, did they kick her when she was down. The entire time I am here asking what do you expect from her fund’s investment thesis in a bear market with drastically rising rates. Instead everyone and their mother claimed her fund would fold. Right.
1:40 just make toast … have them bring the avocados 😏
12:43 the dude parties. What can I say.
Willie smoked weed in the Whitehouse before that was legal.
ETH price up 71% in the past year. This is on top of getting paid interest for staking.