From MarketWatch:
New Jersey house prices rise at fastest rate in the nation — but other states saw prices fall by up to 8%
Good news for homeowners in New Jersey — home-price growth in the Garden State in June was the highest in the nation, according to real-estate data company CoreLogic.
Despite having the highest property taxes in the nation, New Jersey ranked first as its homes rose in value by 6.9% in June year-over-year. Nationally, home prices grew 1.6% on the year in June, the CoreLogic Home Price Index said.
Several housing markets in the Northeast gave a strong performance in June, CoreLogic said. New Jersey was followed by New Hampshire and Vermont, which both saw home prices grow by 6.4%. CoreLogic expects home prices nationally to increase to 4.3% by June 2024.
Home prices fell the most in June 2023 as compared to June 2022 in the West, led by Idaho where values fell by 8%. Washington and Montana followed, with home prices falling 5.8% and 5.7% respectively. Homes in California saw their values fall by 2.2% from June.
…
The U.S. housing market is currently facing a supply-and-demand crisis. Home buyers across the U.S. are struggling with a major lack of home listings, as homeowners find few reasons to sell their houses. But demand continues to hold strong, despite the 30-year mortgage rate hovering at 7%.
“While the continued imbalance between buyers and sellers continues to pressure home prices, June’s annual bump in price growth echoes economic resiliency, a thriving U.S. job market and strong consumer spending,” Selma Hepp, chief economist for CoreLogic, said in a statement.
first
Biden will ask Congress to pay for weapons to Taiwan from the budget for Ukraine, oh that’s a smart move.
I’ll bet our hard working Governor is going to complete his “vacation” rather than come back and do his job.
Willllllllburrrrrrrrr.
Fitch Ratings DOWNGRADES the United States’ long-term rating to AA+ from AAA and says it reflects fiscal deterioration as Treasury Secretary Janet Yellen blasts the agency.
Another loud mouth Old Goat Yellen.
The type that blames the doctor when he tells her she is the size of a farm animal.
God forbid an American hears the truth.
You spend like a drunken wife with an internet connection, and you complain when the credit card bill comes in. Saving boomer from Covid was pricey. You charged it, then boomer pocketed the money.
You “donate” money to every country in the world, pay for wars that either you start or are none of your business, then cry over the bill.
But you are perfectly fine with your own veterans being homeless, you are willing to knit used grocery bags to make them blankets from your mansions, well, you did, until there were no bags to knit. At least you ladies can still get together and down a few bottles of wine over some other cause you choose to pretend to care about.
Yellen, take some of that government check you get and color your hair with it. You look like a broken Q-tip with a megaphone.
Murphy still has not signed the craft alcohol legislation that was passed by NJ legislature and sent to his desk for signature. This was weeks ago.
He’s signed plenty of bills since it was passed, many of them were signed in a very public ceremony.
The people’s representatives voted, King Murphy don’t care, since it doesn’t advance his political agenda.
Have any of you tried a Jacobs ladder exercise machine? It’s a ladder on a treadmill. Much tougher than it looks and works your core muscles too.
There’s been no practical difference between AAA credits and AA credits. Plus Moody’s and S&P both downgraded to AA+ years ago. Fitch must be thrilled to get this much coverage of their second tier ratings service, but nobody was relying upon their AAA rating.
But it’s nice of them to point out the fact that with non-zero interest on debt, government budgets have to increasingly be spent on debt service. The US government has effectively been spending the last 15 years living a lifestyle based on a “teaser rate”. If rising debt service costs get ignored, and budgets don’t get cut, then debt to GDP will surge. What if the recession comes, the Fed cuts rates, but inflation stays above 2%?
But the US doesn’t need to default. The treasury borrows in US$ almost exclusively. The recent preference has been financial repression, but that could combine with more dollar devaluation. They will probably come with tax-hikes, but that will be self-defeating and won’t actually raise government funds much if at all, netting out the effect on business and the economy.
Will the Modern Monetary Theorists rise again?
grim,
What’s the holdup for the booze law? Someone still didn’t get their bribe yet?
I heard he signed some tax-related bill that supposedly will reduce NJ taxation for non-NJ-residents owning NJ partnerships. Hard to believe that was passed, but maybe I misunderstand it. Sounds so out of character for NJ to voluntarily let go of any tax revenue that I wonder if it’s a trap.
Fortune:
We’re now finding out the damaging results of the mandated return to the office–and it’s worse than we thought
“a staggering 76% of employees stand ready to jump ship if their companies decide to pull the plug on flexible work schedules, according to the Greenhouse report.”
https://finance.yahoo.com/news/now-finding-damaging-results-mandated-095555463.html
HMB,
I have. It’s work.
But keeping in shape isn’t a luxury for me, it’s a necessity.
Probably gonna croak on that machine.
Trick,
Watch the videos from the court procedure. Whole thing was a disgrace.
I am so happy for that guy. As were the majority of those who commented.
Courts in NJ are a freak show.
No One: I specifically logged in to post something to you. I knew this development would elicit some mirth from you.
No One says:
August 2, 2023 at 9:29 am
There’s been no practical difference between AAA credits and AA credits. Plus Moody’s and S&P both downgraded to AA+ years ago. Fitch must be thrilled to get this much coverage of their second tier ratings service, but nobody was relying upon their AAA rating.
But it’s nice of them to point out the fact that with non-zero interest on debt, government budgets have to increasingly be spent on debt service. The US government has effectively been spending the last 15 years living a lifestyle based on a “teaser rate”. If rising debt service costs get ignored, and budgets don’t get cut, then debt to GDP will surge. What if the recession comes, the Fed cuts rates, but inflation stays above 2%?
But the US doesn’t need to default. The treasury borrows in US$ almost exclusively. The recent preference has been financial repression, but that could combine with more dollar devaluation. They will probably come with tax-hikes, but that will be self-defeating and won’t actually raise government funds much if at all, netting out the effect on business and the economy.
Will the Modern Monetary Theorists rise again?
Phoenix
I tried it yesterday for the first time. Doesn’t seem hard at first but after 3 minutes my legs started burning. And last night my abs felt like I had done a hard ab workout. Will definitely keep doing it after I finish upper body weight workout. Might do it on cardio days too splitting time with that and the rowing machine or stair climber.
Ten 408.4
re: ” King Murphy don’t care”
He is at his villa in Italy for the next few weeks but now it seems must come back due to the untimely death of Lt. Govenor Oliver.
A little recession will change those attitudes. We are feeling a bit frothy.
Libturd says:
August 2, 2023 at 9:35 am
Fortune:
We’re now finding out the damaging results of the mandated return to the office–and it’s worse than we thought
“a staggering 76% of employees stand ready to jump ship if their companies decide to pull the plug on flexible work schedules, according to the Greenhouse report.”
Jacob’s Ladder looks like a torture device. They say it doesn’t stress your back but it looks like it would. Pricey and ugly and big too. But maybe effective. Though I do see Mexican construction guys climbing ladders a lot that don’t look like they’re in great shape.
I’ll try to do the best I can with an elliptical machine and kettlebells and playing tennis and walking in a hilly part of NJ.
I think the elliptical machine was exacerbating tennis elbow, so quit that a few years back actually.
I saw that…. I may need to try it…. I’m fine, but at 55 I am just shaped differently.
Hold my beer says:
August 2, 2023 at 9:27 am
Have any of you tried a Jacobs ladder exercise machine? It’s a ladder on a treadmill. Much tougher than it looks and works your core muscles too.
LOL!
No One says:
August 2, 2023 at 9:49 am
Jacob’s Ladder looks like a torture device. They say it doesn’t stress your back but it looks like it would. Pricey and ugly and big too. But maybe effective. Though I do see Mexican construction guys climbing ladders a lot that don’t look like they’re in great shape.
Quick tidbit on congestion pricing.
Yesterday, I had an event to attend at 8am in Rockefeller Center. I originally planned to leave the house at 6:30am. But before going to sleep, I checked the Waze and it said it would take 43 minutes at our travel time the following day. I decided to be a bit careful and left the house at 7am on the nose. The only slowdown we encountered was when we were literally on the helix into the Lincoln Tunnel. The Waze said 12 minutes of traffic, but it only took about eight. And there was no traffic whatsoever in the tunnel itself. The only real congestion was 42nd street from where the tunnel traffic traffic merges east onto it which freed up completely at 8th Avenue. They have removed two lanes on 8th Avenue. One is a designated bike lane. The second lane is for parking and those rat infested eating sheds. Even with two lanes, not a single brake tap was necessary all the way up to 50th street. Crosstown traffic sucked as it always does, but it was all delivery and construction vehicles mainly double parking and waiting for spots to drop off their goods. We left the event around 1045am. We were back in Glen Ridge in thirty three minutes.
I know the Summer is slower than the rest of the year, but this felt like a Sunday morning. I don’t think anyone drives into the city to work anymore. The bus lane is still operational, and really cooks. It must take thirty minutes tops to get from the Allwood Park & Ride in Clifton to the PABT.
If congestion pricing passes, it will be the end of Broadway, the end of a lot of restaurants and it is completely unnecessary. It is clearly a tax to pay for the empty mass transit (or should I say, rolling homeless shelters).
It was really incredulous. Prior to the Pandemic, for a number of years, I worked at 48th and AOA. At 7;45, the sidewalks would be filled with suits shuffling to work. I did not see one. Not a one. Just a lot of construction (mainly residential) everywhere I looked. New York has changed. And you want proof? The garage I parked in, which I watched the early bird price go from $20 to $26 in a span of three years from 2015 to 2018 is not only down to $18.75, but you can get in by 9am, not 8am.
Lib,
There is no loyalty from a business to an employee, the day of the pension, retirement party, and gold watch are gone.
The turnover in my industry is off the scale. We have kids that have just graduated and are already educating themselves into another career. They want a lifestyle, not to be working every weekend, mandated to stay late, no summer vacation- when the rest of the world works 7-3 no weekends, no holidays, and makes more money.
Some just try to hook up with doctors in order to get off the treadmill. Others travel.
But either way, turnover is massive. America chose to spend it’s money fighting wars and weapons, and not about helping each other. It cares more about foreigners than it’s own.
Late boomers are going to see even more increased service problems than before, not only in my industry-but the workforce in general has this attitude – “I don’t give a F and what do you think about that.”
It’s a lesson their employers, spouses, clergy, and country in general has taught the youth, and let me tell you something- they got that message loud and clear, and you will be treated accordingly.
Nice job boomer. You created one hell of a generation. Now Gen Z is being deleted by Gen Alpha.
https://www.insider.com/skibidi-toilet-gen-z-alpha-memes-internet-culture-outdated-old-2023-7
I saw this…… between minutes 1:00-3:00 was news to me…. interesting….
https://www.cnbc.com/video/2023/08/01/pending-treasury-sale-could-kill-inflation-says-damped-spring-advisors-ceo-andy-constan.html
FYI – bills are one year and in, and do not have coupons…. they are zeroes that accrete.
chicagofinance says:
August 2, 2023 at 9:50 am
I saw that…. I may need to try it…. I’m fine, but at 55 I am just shaped differently.
Men get tummy tucks today, and lipo.
But before you make the decision, go see the Barbie movie.
I thought Tucks were for your asshole?
Phoenix says:
August 2, 2023 at 9:59 am
chicagofinance says:
August 2, 2023 at 9:50 am
I saw that…. I may need to try it…. I’m fine, but at 55 I am just shaped differently.
Men get tummy tucks today, and lipo.
But before you make the decision, go see the Barbie movie.
Chifi
you need to improve your diet. You won’t need those if you increase your fiber and join the gym.
LET’S GO!
https://youtu.be/ojPUIjiaH_I?t=76
We are going to 5 days in the office at the end of the month during peak season. I’ll be putting over 500 miles on my truck a week.
Lib, any openings?
Phoenix, 8:36a. Priceless. One of your more well written screeds. You ChatGPT it yet?
“Biden will ask Congress to pay for weapons to Taiwan from the budget for Ukraine, oh that’s a smart move.”
Honey, the Chase card was declined!…Use the Visa….That didn’t work yesterday!….Amex?….Nope!….Discover?…..That works, we’re good!
Grim, IIRC, NJ has something like a pocket veto in reverse?
Recall from around my divorce, a legislature approved raft of changes were pending on Christie’s desk right around this time of year. Huge pressure to get something done (we were at three year mark), I wanted to hold out for new law. He wasn’t signing.
Believe if an approved bill sits on governors desk for a certain amount of time and is unsigned it effectively becomes law anyway?
Worth a quick look if it matters to you.
Whenever I leave bills on my desk, my kids take them and buy Slurpees.
Ten 411 we can quickly go to 425-area if we don’t hold 408-409
Slurpees? Wawa is the rage. Especially the summer sub special
“Whenever I leave bills on my desk, my kids take them and buy Slurpees.”
Haha, I can’t remember the last time I possessed a debit card or checks, and these days even unusual for cash in my pocket.
Chicago says:
August 2, 2023 at 11:50 am
Slurpees? Wawa is the rage. Especially the summer sub special.
https://youtu.be/69ujLvxLi0M?t=5
7-11 shopkeepers using a lathi stick to dish out some old school justice like they do in the old country. You don’t swing like that unless you have some real world experience.
https://twitter.com/stillgray/status/1686713571994959872
Divorce on Instagram.
Marriage is a 20 year institution, for the most part, tops. It’s really becoming rare to last much more than that if even that long.
Canadian Prime Minister Justin Trudeau has announced he is separating from his wife Sophie after 18 years. The pair announced the split on Instagram today in matching posts written in both English and French. His office also released a statement to confirm they had reached a legal agreement.
Phoenix
I wonder if Trudeau wife is as big an insufferable hypocrite as he is
I wonder if he froze her bank account yet.
Selling SMH and shorting tsm/tsla was a decent play. If apple disappoints, this could trigger a big selloff.
Juice,
Saw that video on Reddit.
Here is one. It’s from Jersey, but YTuber is from CA. Interesting comments. Nice car.
https://youtu.be/MckIU5jpYB8?t=16
This is the most satisfying feeling I’ve had in a while….. almost Luger’s, but not quite.
Juice Box says:
August 2, 2023 at 1:51 pm
7-11 shopkeepers using a lathi stick to dish out some old school justice like they do in the old country. You don’t swing like that unless you have some real world experience.
https://twitter.com/stillgray/status/1686713571994959872
chifi,
It would be satisfying to me if I could have done the same to those who stole from me.
Problem is the law gets in the way of justice.
Do you know who I am? Let me tell you, I will, and I will tell you what I did in ten seconds.
https://youtu.be/YB6dpINnjnU?t=126
I can watch this 100x
chicagofinance says:
August 2, 2023 at 2:36 pm
This is the most satisfying feeling I’ve had in a while….. almost Luger’s, but not quite.
Juice Box says:
August 2, 2023 at 1:51 pm
7-11 shopkeepers using a lathi stick to dish out some old school justice like they do in the old country. You don’t swing like that unless you have some real world experience.
https://twitter.com/stillgray/status/1686713571994959872
chicagofinance says:
August 2, 2023 at 2:46 pm
I can watch this 100x
You can. It’s free. You can download it as well, or just put the sound on when you go to sleep at night on replay.
Or make it your ringtone. That’s nice.
you are awesome
Phoenix says:
August 2, 2023 at 2:52 pm
Or make it your ringtone.
I liked all the hits to the shins. Impressive
Robert Bowers,
the gunman who killed 11 worshippers and wounded six others at a Pittsburgh synagogue in 2018 in the deadliest-ever attack on Jewish people in the United States, was unanimously sentenced to death by a federal jury on Wednesday.
It’s the first federal death penalty imposed under the Biden administration, which has put a moratorium on executions.
The decision to sentence the gunman to death had to be unanimous. Otherwise, Bowers would have been sentenced to life in prison without parole.
chicagofinance says:
August 2, 2023 at 3:06 pm
you are awesome
Ty. but I really wish you were Camila Mendes.😂😂😂
NYC consumes more weed than any other major city in the world.
Well it is the largest black population in America.
Now looky here.
https://www.ncbi.nlm.nih.gov/pmc/articles/PMC3419382/
You have no idea how much this explains what happened to you……. now I understand….. I’ve been under that trance too for stretches in my life.
Phoenix says:
August 2, 2023 at 6:14 pm
Ty. but I really wish you were Camila Mendes.😂😂😂
Only 4% of the US population uses MJ? REALLY??!!??
Libturd says:
August 2, 2023 at 8:05 pm
Now looky here.
https://www.ncbi.nlm.nih.gov/pmc/articles/PMC3419382/
I have no idea. Please help me understand, in simpleton language please.
chicagofinance says:
August 2, 2023 at 8:14 pm
You have no idea how much this explains what happened to you……. now I understand….. I’ve been under that trance too for stretches in my life.
Boozers:
From 2001 to 2013, there was a 58 percent increase in women’s heavy drinking and an 84 percent increase in alcohol-use disorder. It has an effect on every part of life — from parenting to health care to the economy.
We often assume that men are more typically the ones with a drinking problem. And men do generally drink more — but the gender gap is narrowing. One study reported that from 2006 to 2014, alcohol-related visits to the emergency room increased by 70 percent for women
They need to do a study linking female drinking to Monkey Branching.
Anyone know a PhD that will take on that assignment?
The AI arms race continues.
The level of unemployment in the short term will be staggering.
Any excuse will work if you are hot looking:
A woman who stabbed a lover during sex in a Vegas hotel room to avenge a US drone strike that killed a top Iranian general has avoided jail – blaming a previous rape for her violent behavior.
Nika Nikoubin, 22, appeared at the Eighth Judicial District Court, Clark County, Nevada, on Wednesday and told the court that she is ‘aware of the gravity of my actions and the consequences they carry.’
Despite her crime – which saw the wannabe singer knife her victim in the neck – she walked free after being sentenced to no more than 36 months probation.
grim says:
August 2, 2023 at 9:36 pm
The AI arms race continues.
The level of unemployment in the short term will be staggering.
And those who get caught stealing in a 7-11 after being unemployed due to AI will be staggering as well when they get beaten by employees.
ChiFi will get some additional ringtones, however. Always look at the bright side of life.
Grim,
Can’t beat em, join em. Investing is the only way to do better than the avg in an AI world. Not rocket science. Avg human being is not beating a machine. Just not.
Act accordingly.
Invest in stocks. Buy hard assets like real estate in desirable locations. Don’t f’k your future self, take advantage of this.
Marijuana abuse is now an evolving statistic that is changing over time. I know about a dozen people who suddenly picked up bad habits in their 40s/50s with it now that it’s legal. Moreover, I see several signs of dependence from these individuals. I swear, I refuse to go out to shopping centers on Sunday because everyone is driving around stoned at 5 mph like idiots.
Alkies provide me with plenty of job security.
Hold my beer…..
BRT,
I agree. It’s not an issue for the casual pot smoker. But, lots of new potheads are now being born when it used to really looked down upon. But it’s all about the tax revenue, so it stays.