From the Star Ledger:
6% tuition increase approved for Rutgers, more than twice last year’s hike
Tuition and fees at Rutgers will increase by 6% in the next academic year under a budget the state university’s board of governors passed Monday.
For the typical in-state student, the tuition increase will cost an additional $774 per year, amounting to an annual tuition of $13,674, plus an additional $200 for fees. Meal plan costs willrise by 7%, and Rutgers housing will increase by 5%.
The tuition hike is twice last year’s 2.9% increase and beyond the rate of inflation, which was 4% for the year ending in May.
In 2021, tuition rose by 2.5%, and in 2020, there were no increases due to the pandemic.
Statewide last year, only five schools — Rowan, Centenary, and Seton Hall Universities, the College of New Jersey, and Pillar College – increased tuition by 4% or higher.
Rutgers officials attributed the 2023-2024 higher costs to general inflation and increases in salaries and wages, utilities and commodities, and employee benefit costs, including health insurance premiums and pension contributions.
University officials noted that the union contracts following the five-day faculty strike in April led to a nearly 8% increase in labor costs for this year and for the duration of the four-year contract. They added that in November, state health benefit costs increased by more than 22%, which cost the school $48 million.
First.
This is the first time in many years NJ schools have exceeded 3%.
WTF is Pillar College?
No matter. We bleed wealth. A mere flesh wound.
Housing was even less affordable for some baby boomers than for homebuyers today, Realtor.com says
Story by jsor@insider.com (Jennifer Sor) • Yesterday 2:23 PM
Housing affordability was even worse for some Baby Boomers, per a new Realtor.com analysis.
That’s because homebuyers in 1981 were saddled with 18% mortgage rates, the listing site said.
The current rate on the 30-year fixed mortgage has hovered stuck close to 7% for the past year.
It’s not just millennials. Some baby boomers also got the short end of the stick when it comes to housing affordability, according to a new analysis from Realtor.com.
The real estate listing site analyzed housing market data dating back to 1973, including monthly data on single-family home prices, weekly data on the 30-year mortgage rate, and annual data on median household income.
Though researchers weren’t able to consider factors like regional price differences, they found that housing conditions were generally more unaffordable compared to today’s standards in 1981, around the time most baby boomers had entered their prime homebuying years.
Back then, a single-family home cost around $66,125, around 6 times less than today’s average home price of $410,110, Realtor.com said.
Jim says:
Boomers had it so easy, reality is teachers, policemen, and firemen are the ones who had it so easy…backed by strong unions that the politicians gave everything to. Even now Rutgers got great increases , then Murphy gave them another 95 million. Now Rutgers is raising tuition another 6%, housing 5%, meal plan 7 % . I heard Schiano wants a brand new helicopter , a 2024 model,and a raise if he can win 5 games LOL.
Most boomers are working until their 70s , check out Shop Rite, Home Depot, or Lowes. While NJ teachers retired @ 55, police 50 and firemen 50. I agree the NJ public worker has raped the average homeowner… but like our one teacher friend always said “It is all for the kids” and she was a home ec teacher who is now retired 15 years, and STILL complains about no COLA.
“It wasn’t going to last, and finally the party is over.”
— Satish Jindel, president of ShipMatrix, on toughening requirements for free shipping of online orders.
“Boomers had it so easy, reality is teachers, policemen, and firemen are the ones who had it so easy…”
Let me rephrase this. Anyone that invested or went to college as a boomer had it easy.
Anyone that remained a low skilled worker got destroyed.
Esp those union workers who’s factories were shut down. Had their entire lives and towns destroyed in a generation. Nothing left.
“That’s because homebuyers in 1981 were saddled with 18% mortgage rates, the listing site said.”
Interest is interest, principal is principal.
You can pre pay a mortgage and escape the interest. You cannot escape the principal.
You can write off some of the interest on your taxes, you cannot write off the principal.
The two are not the same. Hustle a bit, work two jobs, pay a smaller principal down much quicker than a higher interest rate. Not only that, should the interest rate lower, you can refinance as much as you like. Not going to “refinance” your principal any lower.
Retired New York cop in my family posts on FB all day long from his boat or at the local bars. What is the fascination with posting with drinks in hand anyway? Pretending to be at a 24 x7 party, but it’s just one long bender. He looks like he ballooned up 100 lbs since retirement, as well as his new girlfriend, both now look like they need to book 2 seats each on a fight. At this pace the two of them will be dead in 10 years.
Nice…keep hitting those milestones.
“Ginkgo announces the completion of the pilot phase of their previously announced partnership with Novo Nordisk, a leading global healthcare company, to develop expression systems for pharmaceutical products.
With the pilot phase completed and the first milestone achieved, the two companies will now move into the development phase to work towards making a more effective production process.
Achievement of the first milestone included extensive modification and testing of a microbial expression system to understand the impact of the modifications on key performance parameters.
“Ginkgo’s achievement of the first milestone has both excited and inspired us, giving us the confidence to move into the next phase of this ambitious project. This progress is a strong indicator of the potential we have to engineer biological systems that will expand the chemical space of biological medicines.” – Brian Vandahl, Senior Vice President, Global Research Technologies at Novo Nordisk.
prnewswire.com/news-releases/…
Day 2 of 5 day water fast. Can’t wait to eat again.
I have practiced intermittent fasting for 3 years straight. 18-6.
I don’t do this for weight loss, but for the health gains you supposedly get. Trying to take care of my insulin.
Returned last night from Peachtree City, GA. Went to see a friend and went to the race Sunday night. What a track and event! It was cut short 3/4 of the way into the race due to rain but what awesome rebuild they did with that Atlanta track… a mini Daytona!
Peachtree City area is nice, for those of you familiar with it. It’s a rural feel but definitely building up as witnessed by newer plazas and clean environs. The houses aren’t cheap, of course I did a search. The taxes are a third of ours here. It was nice to get away for a few days. The flight there and back was a breeze. They did a phenomenal job at Newark airport, really nice restaurants and facilities. For as busy as Atlanta airport is, it needs to be redone.
Also went to Senoia where they filmed “The Walking Dead.” What a pretty, quaint center of town, nice little shops and eateries.
Eddie,
Been there. Really nice area. Stranger Things, some of Ozark filmed nearby. Georgia was good at giving tax breaks to filmmakers.
Phoenix,
I enjoyed the three day stay. I prefer these trips rather than week long treks to far away places. Just preference. My friend drove a lot of back roads to show me things and it’s a nice mix of farms and modern developments. He’s in the Fayetteville area.
Fast: Potential retirement area for you?
In other news, a shit split in my neighborhood is under contract. This is the one where they had the slop sink in the basement feeding a 5-gallon bucket with a pump because everything was below grade. The whole house was old and shabby BUT, everything sells here. I’m dying to know the hammer price. They were asking 650K for the dump.
3b,
The spouse will only go where the future grandkids will be. For me, it would most likely work though, unlikely. It really does look modern and I noticed a number of newer health facilities, etc. But, who knows where.
How about this flooding in VT, eh?
https://www.washingtonpost.com/weather/2023/07/11/vermont-flooding-new-york-northeast-rain/?utm_campaign=wp_post_most&utm_medium=email&utm_source=newsletter&wpisrc=nl_most
Fast: Understand.
Flooding even right over the border in NY state was crazy.
Boomer generalizations..? technically a boomer, with college degree in math, married to gen x er with college degree in math, married 1987, could not afford a house, got the infamous condo with ARM, rates escalation from 7% to 9% to 11%. Bought condo at $132k, sold 12 years late for $92k…..so really didn’t clean up on that one.
1987: Like me, it sounds like you are a tail end boomer. I bought my house around the same time, sold it 10 years later for a little less than I paid for it, and that was after significant upgrades too. The older boomers cleaned up as you say on real estate.
1987,
I was laughed at for buying my multi in 1999. Everyone wanted stocks. Yea, how that work out. Glad i didn’t listen. Changed my life getting that decision right. Timing is everything and it requires luck.
Point of the post…real estate was a terrible investment for more than a decade. Boomers didn’t start buying hard again till 2001. They blew up starter home market in 80s, and then blew up entire real estate market upgrading en masse in 2000.
Some boomers were buying investment properties. Some were buying second homes on the beach or lakes. Majority were upgrading their personal homes to their “dream home.” Aka McMansions…legions of them.
Just drop this here.
https://www.cnbc.com/2023/07/11/new-jersey-most-improved-state-for-business-led-by-economy-housing.html
Local flooding in NYC was heading towards Sandy levels. Mrs Fab and I drive up to Cornwall via 218 for the restaurants. You get a lot of the Culinary Institute chefs opening places or working locally.
https://www.newsweek.com/floods-new-york-route-218-road-washed-away-woman-killed-1811855
So US average is I think $1800, Florida is at $6K and rising.
https://www.tampabay.com/news/business/2023/07/11/farmers-insurance-florida-leaving-hurricanes-insolvent/
For the Hunter HardOns …
Mike Sington @MikeSington
The key whistleblower Republicans said would expose the corruption of President Biden and his son Hunter Biden (AKA the “Biden crime family”) has been indicted on eight counts, and is accused of being “engaged in multiple, serious criminal schemes”.
The eight counts Gal Luft has been charged with are: conspiracy to violate the Foreign Agents Registration Act, conspiracy to violate the Arms Export Control Act, violation of the Arms Export Control Act (relating to Libya), violation of the Arms Export Control Act (relating to the United Arab Emirates), violation of the Arms Export Control Act (relating to Kenya), making false statements, conspiracy to violate the International Emergency Economic Powers Act, and an additional count of making false statements.
Luft has gone on the lam and is a fugitive.
https://twitter.com/MikeSington/status/1678549312928882691
Here you go ExEx (I didn’t look, it found me):
https://youtu.be/oTVmZTYGptc?t=206
Oh Jerry.
Looks like we’ll try & catch Depeche in December.
Fab – What a riddle an Israeli arms dealer fingering the Biden’s?
He was arrested back in February on an Interpol warrant on his way back home to Israel at the airport in Cyprus, he made bail $400,000 and well went home, he is not on the lam as you say as under their laws the right of return says he is pretty much untouchable at home.
What is interesting is his relationship with the Chinese and their former lobbying arm here in the USA. CEFC-USA paid this guy Luft to lobby, he lobbied both the Obama and Trump administration. CEFC-USA was run by Mr. Ye. Tony Bobulinksi and the Biden family created Sinohawk Holdings to engage in a partnership with CEFC-USA. It’s all documented. Leadership of CEFC-USA apparently initiated their contact with the Biden family as far back as 2015, and was apparently all staffed with lots of ex- Chinese military.
Luft recent claims are Hunter was paying an FBI agent to be a mole. FBI Director Wray confirmed in yesterdays testimony to congress there is still and ongoing investigation, but to his credit that is all he would say however.
Lots we do not know for sure. It will either take years to shake itself out or be swept under the rug. What is interesting is the one guy from CEFC-USA that was convicted here of seven counts of bribery and money laundering Patrick Ho has already been released from Federal Jail and extradited back home. They won’t be able to squeeze him for information.
BTW CEFC is pretty big worldwide as part of the Chinese “Belt and Road” program to influence the world.
CNN did a nice piece on them, no mention of the Bidens just the goals of the Chinese to spread influence via any means loans etc and well perhaps bribery.
https://www.cnn.com/interactive/2018/12/asia/patrick-ho-ye-jianming-cefc-trial-intl/
The latest allegations of Hunter Biden’s shakedown of the Chinese via CEFC.
There is documented proof that CEFC wired $5 million to the Hunter Biden’s firm Hudson West III on Aug. 8, 2017. There is no denying money changed hands. Should he have been doing business with them? Absolutely not but at the time he was a crazed drug addict, and well should be prosecuted just like anybody else.