From the Long Island Business News:
LI home prices hit new highs amid scant supply
Long Island home prices hit record highs again last month as limited inventory and higher mortgage rates slowed sales.
The median price of closed home sales in Nassau County climbed to $733,550 in September and the median price of closed sales in Suffolk County reached $590,950, according to preliminary numbers from OneKey MLS. Home prices have now set new high-water marks for each of the last three months.
Real estate brokers say those all-time high prices can be directly attributed to the limited number of homes on the market, as listing inventory remains at historically low levels.
There were 5,095 Long Island homes listed for sale with OneKey MLS as of Tuesday, down 24.7 percent from the 6,760 homes listed for sale at the end of Sept. 2022 and 28 percent fewer than the 7,075 homes listed for sale in Sept. 2021.
There were 1,941 homes contracted for sale last month in Nassau and Suffolk counties, that’s down 11.1 percent from the 2,183 homes contracted for sale in Sept. 2022 and 33.7 percent fewer than the 2,929 Long Island homes contracted for sale in Sept. 2021, according to OneKey MLS.
In the first nine months of the year, there were 19,156 Long Island homes contracted for sale, a drop of 15.2 percent from the 22,597 pending home sales in the first nine months of 2022, and 31.2 percent fewer than the 27,874 pending sales from January through September of 2021.
Meh.
Since when did Chicago downtown/Miracle Mile look so nice?
It’s been a few years since I’ve been down here, but I don’t remember it like this.
Makes NYC look like a shithole, and San Fran look like some post apocalyptic survival movie. How the mighty fall.
Chicago is wonderful, until you live there.
Always seem to end up on the outskirts of town, or in the North side near Wrigley. Never really had a chance to get into the downtown area, so no real frame of reference.
Winter is gray, cold and endless in Chicago.
Temps routinely reach 20 below. No thanks.
Train station parking 100% full. Punkin noggin is right again!
Chicago has always been awesome. The best is down by the river by the Tribune building and the drawbridges. That said, it is hopelessly fuct by corruption.
When I lived there as a student (we were all transplants in town) we would discuss how the town was always extra awesome because it had to compensate for the weather.
I also remember a WSJ article talking about how if you feel a bit paunchy or that you need to lose a few, visit Chicago and you will instantly feel much better about how you look.
The Chicago years….1994-1999
https://imgur.com/gallery/nAnXRNQ
It’s her that makes any place worth living. The rest is just window dressing.
The hate groups are getting bolder. Why they would show up at a mediocre taco chain is even more puzzling
https://www.wfaa.com/article/news/local/viral-video-men-seen-wearing-nazi-clothing-accessories-in-fort-worth-torchys-tacos/287-c6fe4bf9-a8fe-423c-86de-c837a69f6c19
9:06 because they’re broke and stupid?
Again, you simply don’t understand. They want control. They can’t live with the thought of paying someone good money to sit home. It doesn’t matter if the employee gets the job done, the owner still feels like they are being robbed blind and hurting their company’s future. Stop looking at this from the bias of a worker that wants to sit home and still get paid. If you would have just listened to the teacher 3 years ago, you would already have accepted that it was a pipe dream to work the rest of your life from home. Worse the labor market gets, the more people like you will wake up.
Bystander says:
October 10, 2023 at 4:12 pm
You don’t know sh$t dhingus. You think it is easy to fill tech positions for price that banks want to pay. Right now, tons of Indians are all over US. When there is no choice, need someone other you tell them must move to area at some point. That some point never happens and now you need them as hiring is a disaster . You have disparate rules all over place and assuredly GS does as well. You will never get it. This is ball flexing nonsense and they will pay price via tech talent drain. GS still thinks it is special when it is a garbage ‘has been’ now through near shoring and offshoring of all MO, BO and IT roles. Lots of ex GS would not even recognize place anymore
Just like my real estate call caught laughs last decade when real estate was dead, I did the same thing with WFH. I knew what I knew based on teaching and managing individuals for a long time, and was not backing down based on short term trends. Even though everyone and their mother thought it would last forever. I was laughed at once again, and called an idiot…
Fast Eddie says:
October 11, 2023 at 8:27 am
Train station parking 100% full. Punkin noggin is right again!
You’re still an idiot. Congrats!
Ed,
He does not even understand difference bw WFH and hybrid. Our parking lot is more crowded in last few weeks but this is bc many people are going into office 2-3 days a week when they were WFH 5 days for years. You will get packed lots Tues to Thurs. That is not same as everyone returning 5 days. That is not happening. Monday and Friday are still empty lots here. That is story here anyway.
Give it a rest, own that you were wrong, and take the L like a man.
Bystander says:
October 11, 2023 at 9:23 am
Ed,
He does not even understand difference bw WFH and hybrid. Our parking lot is more crowded in last few weeks but this is bc many people are going into office 2-3 days a week when they were WFH 5 days for years. You will get packed lots Tues to Thurs. That is not same as everyone returning 5 days. That is not happening. Monday and Friday are still empty lots here. That is story here anyway.
I understand it…you clearly don’t as you have been wrong and I have been right. Good luck finding a remote job now.
Most people didn’t go to work on Friday before the pandemic. 4 day week is returning, or pretty much already here. Only a matter of time before everyone is going in on Monday because that’s what adults with a job do.
Except in distributed trans which is actually the norm in places that value “skills” over warm bodies. Think about that. Skilled workers are scarce. Bodies? They’re everywhere.
“Trans” = teams
Autocorrect is a joke.
You are a demented child. I have been 3 days for 1.5 years. Before that, we were 5 days with no Fridays WFH. The world has permanently changed. You tell me how NYC survives on 25-50% less spending from commuters during the week. Too dumb to even see the bigger picture.
Skilled workers are scarce when the labor market is hot. Understand the Fed wants to hurt the labor market for the reasons you have stated. They want to break the worker. Lower the cost of skilled workers and all workers at every level. That’s how you kill inflation.
Inflation comes in higher, yet yields drop. This market is still high off the money supply. Looking for risk to make money…Fed still has to break it.
Easy lady. I get the “women scorned thing” and all that, but hey, get your finger off the Nuclear button already. Sounds like something Christie Whitman would do, then tell you that nuclear fallout is safe to breathe in.
Israeli official calls for ‘Doomsday’ missile that ‘shakes the Middle East’ to be used in response to Hamas attacks – despite the nation never openly admitting to having nuclear weapons
Right-wing Israeli lawmaker Revital ‘Tally’ Gotliv has called for Israel to employ ‘Doomsday’ force to eviscerate Gaza following the Hamas terror attacks
9:41 skilled workers are like gems. Hard to find in the wild.
If you knew how much money firms spend funding them.
I’ve just had a few business trips to Chicago, never tried to live there, other than applying to the UChicago MBA program a long time ago, sight unseen. (I went to NYU instead).
Mostly I wanted to try their most iconic food. So over the years have tried a Chicago Dog, an Italian Beef sandwich (with juice). But I didn’t have a chance to get a deep dish pizza, so ordered Lou Malnatis delivered frozen to try at home. Just ok.
Most of the bottom and middle tier of the labor market is “potential”….proven leaders and those with a successful track record are getting paid. 100% remote is still on the table for those not residing in a Corp center and those not willing or able to relocate.
Not where I work. They just say if you don’t like it leave. Then replace you with a humanoid figure with a license and a pulse.
Mediocre is fine in America today.
ExLax says:
October 11, 2023 at 9:51 am
9:41 skilled workers are like gems. Hard to find in the wild.
If you knew how much money firms spend funding them.
Thanks dummy. I think Left and I agreed on this 8 months ago. So you tell me what the “great reset” accomplishes?. You got a job for 1 year that paid 175k, let go and now a company will offer 125k bc market softened? Who will inform the real-whores, food conglomerates, oil and gas, daycare, retail stores, labor/construction, fast food and restaurants that their prices are now out of whack after raising 50-100% in last two years? Prices stay after inflation is contained. Incomes go down then country is screwed. That is your hard landing.
9:45 Israel has nuclear submarines. I like the Arab world and could annihilate the whole region.
I like = unlike
Fuuuuuck
9:53 which is why a lot of MD’s and Pharm D’s end up working in big pharma.
You got a job for 1 year that paid 175k, let go and now a company will offer 125k bc market softened?
No, that doesn’t happen for teachers. Once they get tenured, their salary never goes in the other direction, only up, up ,up.
And let go?, Tenured prevents that. It’s like a safety harness for window washers. You on the other hand get splatted on the ground into blood, bone, and goo.
Incomes go down then country is screwed. That is your hard landing.
No hard landing when you have a Golden Parachute.
10:02 tenured teachers exist in a bubble. Many went from a college classroom to a school classroom. No experience actually working a real job with consequences.
They literally have the awareness of a child.
Ask me how I know?
Like LW said, today’s youth wants a “lifestyle.”
When I have the little ones where I work, and they are knee deep in their own shite from crapping themselves, I tell them they should have become teachers. No weekends, no call, no nights, no rotating shifts, summers and holidays off.
I mean, if you aren’t going to be respected anyway, you might as well have a better lifestyle.
ExLax says:
October 11, 2023 at 10:07 am
10:02 tenured teachers exist in a bubble. Many went from a college classroom to a school classroom. No experience actually working a real job with consequences.
They literally have the awareness of a child.
Ask me how I know?
Ronald Reagan:
How a Series of Air Traffic Control Lapses Nearly Killed 131 People
Two planes were moments from colliding in Texas, a harrowing example of the country’s fraying air safety system, a New York Times investigation found.
We have tons and tons of tax dollars to spend in other countries, but not in our own airports. And maybe pay controllers more, since they are forced to retire at 56. Thanks Ronnie Reagan.
The FedEx plane, which had three crew members, skimmed less than 100 feet over the other jet. The 128 people aboard Southwest Flight 708 continued on their way to Cancún, Mexico. Passengers were unaware that they had nearly died
Austin-Bergstrom, like the vast majority of U.S. airports, lacks technology that allows controllers to track planes on the ground and that warns of imminent collisions. The result is that on foggy days, controllers can’t always see what is happening on runways and taxiways. Some have even resorted to using a public flight-tracking website in lieu of radar.
In addition, for years Austin has had a shortage of experienced controllers, even as traffic at the airport has surged to record levels. Nearly three-quarters of shifts have been understaffed.
Totally agree. You have to break the labor market, prices follow that….everything from housing to food to stocks. Just like when the economy tanks and labor market improves, everything goes up in the bull market because it follows the impact of labor putting money in the hands of people, or taking it away.
Bystander says:
October 11, 2023 at 9:54 am
Thanks dummy. I think Left and I agreed on this 8 months ago. So you tell me what the “great reset” accomplishes?. You got a job for 1 year that paid 175k, let go and now a company will offer 125k bc market softened? Who will inform the real-whores, food conglomerates, oil and gas, daycare, retail stores, labor/construction, fast food and restaurants that their prices are now out of whack after raising 50-100% in last two years? Prices stay after inflation is contained. Incomes go down then country is screwed. That is your hard landing.
Bystanders: I have family and friends in all walks of corporate life, and none of them had Fridays off before the pandemic. Fridays for many might have been company pizza days, and or jeans OK on Fridays.
Teachers have been destroyed by inflation. My union agreed to 1% raises, I tried to talk sense to these people, but they don’t understand blind theft.
You know what is coming if prices don’t fall, right? That’s right, big teacher raises again. You will not be able to attract teachers with current pay…it makes absolutely no sense unless you want to be broke. Try buying a house on a teacher’s salary in north jersey today….I dare you. This is a skilled profession we are talking about…managing a lot of people. Who is going to sign up to manage and TEACH that many people for that little money?
Phoenix says:
October 11, 2023 at 10:02 am
You got a job for 1 year that paid 175k, let go and now a company will offer 125k bc market softened?
No, that doesn’t happen for teachers. Once they get tenured, their salary never goes in the other direction, only up, up ,up.
And let go?, Tenured prevents that. It’s like a safety harness for window washers. You on the other hand get splatted on the ground into blood, bone, and goo.
BS! Majority did.
3b says:
October 11, 2023 at 10:25 am
Bystanders: I have family and friends in all walks of corporate life, and none of them had Fridays off before the pandemic. Fridays for many might have been company pizza days, and or jeans OK on Fridays.
Incomes don’t have to go down, prices just have to outpace their earning power. We are almost there, where they have to buy less.
Phoenix says:
October 11, 2023 at 10:03 am
Incomes go down then country is screwed. That is your hard landing.
No hard landing when you have a Golden Parachute.
ExLax,
Nice picture!
Redfin CEO says real estate market is dead, listings starting to rise.
Well you can thank boomer for that one.
“Try buying a house on a teacher’s salary in north jersey today….I dare you.”
“Who is going to sign up to manage and TEACH that many people for that little money?”
Young women who don’t really want to work, whose husbands have businesses that need government health insurance. Men don’t care how much women make if they are hot, didn’t you see Pretty Woman?
The job is difficult. I would argue harder than yours, but you will never see it that way. You don’t know until you do it. Everyone thinks it’s so easy. Grass is always greener on the other side.
“women who don’t really want to work, whose husbands have businesses that need government health insurance. Men don’t care how much women make if they are hot, didn’t you see Pretty Woman?”
Redfin CEO says real estate market is dead, listings starting to rise.
Not here. List today, be out of attorney review by next week. Mortgage rates don’t apply in the gravitational pull of Manhattan. 20% down is the minimum and anyone looking to buy has that amount and more. If your list price doesn’t make you cringe to the upside, you’re leaving money on the table.
You really have this biased mindset that comes from being a student, and not a teacher. You don’t see all the planning and paperwork that goes into teaching from a student’s perspective. They only see the teacher come in, all prepared, making it look so easy because they are GOOD EXPERIENCED TEACHING PROFESSIONALS. Teaching has the highest turnover out there in professions in the first 5 years….i wonder why?
Fast: 5 percent down becoming more common again, from what I am told. It does not matter, because the house will be worth 100k more in 6 months. And the buyers will get big bonuses and raises. The money spigot here is always flowing. Redfin guy must be referring to other areas of the country.
10:29 thanks! Appreciate it. I still think Michael Jordan is the GOAT.
I said this about Texas last decade. It’s going to turn into the same thing that they were running away from in NJ in terms of affordability. Successful economies attract winners who drive up the cost of everything. If a place is cheap, it’s because it has almost no opportunities to make money or climb the ladder. Great for retirees, but not someone trying to live life.
https://www.wsj.com/economy/housing/texas-housing-california-migration-affordability-a50c78f?mod=hp_lead_pos7
10:40 Planning? really, after someone has taught for a few years the time spent planning goes to zero. Most teachers just use whatever they’ve already created for their class.
The only serious challenge to teaching is psychological. Spending all day with kids and trying to separate yourself from the malaise of some classrooms is a challenge. That and the threat of violence in some places.
10:32 I was 36 when I bought my very first house. Home ownership isn’t a right. You actually have to work really hard for it. Unless you have rich parents who will, as so many have, flip for the down payment.
3b,
Exactly. Casual Friday, jeans..maybe split at 4 in summer. WTF is dhingus talking about? Majority? No, it was upper mgt who got that WFH Friday. He watched too much TV and draws conclusions. What was that show – Dream on? That was Blumpy in 1995.
Real estate market… Put in an offer for a buyer in Hillsdale. Property listed last Friday. Highest and best due today. As of yesterday afternoon there were 3 offers. Once the smoke clears I will share the details.
For those who don’t get Oaktree updates, a new newsletter dropped today:
https://www.oaktreecapital.com/insights/memo/further-thoughts-on-sea-change
Bystander: And we had that going back to the mid late 90s. However it all plays out today, there is no going back to 5 days in the office like it was pre pandemic for the overwhelming majority of people. Once leases expire, I believe companies will quietly continue to shrink their real estate foot print.
Next wave of inflation just beginning?
PPI: Actual 0.5%, Expected 0.3%, Previous 0.7%
Core PPI: Actual 0.3%, Expected 0.2%, Previous 0.2%
Juice: We are insulated here, does not matter. Seek Brother Fast to help you see the light.
Thanks for the share. I just don’t know if I agree with this. If capital exits equity markets, they will drop.
“Please note, as mentioned earlier, that I’m absolutely not saying interest rates are going back to the high levels from which they’ve come. I have no reason to believe that the recession most people believe lies ahead will be severe or long-lasting. And with valuations high, but not terribly so, I don’t think a stock market collapse can reasonably be predicted. This isn’t a call for dramatically increased defensiveness. Mostly I’m just talking about a reallocation of capital, away from ownership and leverage and toward lending.”
Boomer Remover says:
October 11, 2023 at 10:58 am
For those who don’t get Oaktree updates, a new newsletter dropped today:
https://www.oaktreecapital.com/insights/memo/further-thoughts-on-sea-change
Instead of a house we have a seven figure liquid account. My wife and I often wonder if we made the right decision, but we like the idea of our “wealth” not being tied to a house. My housing expense is just that, an expense, which we strive to keep reasonable.
There’s no inflation here, it’s easily absorbed in the desirable towns from Upper Bergen County to Long Island. As a house tour guide told me years ago; we’re bleeding wealth here, the prices are warranted.
Currently on my second 5 day water fast. Last one was week ending july 15th. Trying to do it every quarter so 4 times a year. I also practice Intermittent fasting…mostly 18/6 window. I also started 2 weeks age, 42 hour fast weekly….eat last meal on tuesday night, and don’t eat till after 6 on thursday….still work out on those days. I do HIIT and weight training monday, tuesday, thursday, and friday. I also weight train muscles I didn’t work on the other days on Wed and weekend. Yes, I make sure to give my muscles rest. Also, get 10,000 steps a day at the minimum (most days).
Give it a try. Join me. Your body will thank you.
The philosopher Plato has a famous quote where he says “I fast for greater mental and physical efficiency,” as he knew that his greatest performance both physically and mentally were done in a fasted state. This is why he and many other ancient Greek philosophers and some of the greatest minds throughout the world endorsed a fasting lifestyle.
https://drjockers.com/fasting-lifestyle/
Entry level, in-person, work across most of the US is roughly $25 an hour right now. If lower, will be there very shortly.
You need to pay a substantial premium to get it.
Employers can demand all they like, but if they actually want to be able to hire, they’ll need to compensate well for it.
The stragglers that might get accidentally caught up in the net will leave at the first chance to make a few cents more an hour. I am seeing far less loyalty for in-person positions.
The more vocal these companies are, the less successful they are at actually attracting and hiring talent.
BR, TY on article.
“Currently on my second 5 day water fast”
So, your body is eating your brain. Makes sense now.
Grim,
Thanks for your thoughts. Exactly what I believe. You will ball flex to get someone in door but they will look and find more flexible options. Money is often secondary consideration and the GSs of the world will scramble. The RTO failure will never be in the press. Solomon will project victory while it will be ‘hush hush’ WFH in reality.
Weight training during dehydration. Seems like a recipe for a muscle pull
The far-right is becoming far more radicalized.
Scalise has been chosen by committee to be the next House Speaker. The vote will occur at 3pm today. Scalise has been outspoken against Muslims, opposes the Affordable Care Act, has earned the highest rating possible from the NRA, is one of the most anti LGBT legislators maintaining his opposition to same sex marriage, has spoken for David Duke at a white nationalist convention.
Regarding January 6, Mr. Scalise voted to decertify the election win of Joe Biden. He maintains that the election was stolen and not legitimate to this day. He has also called out the rioters on January 6, equating it to the congressional baseball shooting and referring to the rioters as terrorists. In the aftermath, Scalise is one of eight that voted against establishing a national commission to investigate January 6.
Mr Scalise was diagnosed with multiple myeloma on 8/29/2023 and is undergoing chemotherapy.
Some reports are coming out that he passed out of committee without the requisite 218 member support.
If there is any truth in that at all I can’t find it.
There has been vindication many times over of the trump travel ban. Look no further than the raging anti semitism of the left. Millions of radicals have infiltrated the country due to our reckless immigration system. Id rather do without it.
Doesn’t matter. America likes war too much, it will make up or find a reason like the false WMD in order to feed the profitable American war machine.
Follow the money, somehow, someway, it’s always about the money.
“The United States has collected multiple pieces of intelligence that show that key Iranian leaders were surprised by the Hamas attack in Israel, information that has fueled U.S. doubts that Iran played a direct role in planning the assault, according to several American officials.
The United States, Israel and key regional allies have not found evidence that Iran directly helped plan the attack, according to the U.S. officials, an Israeli official and another official in the Middle East.”
Hop on the wheel, hamster.
How much do you REALLY need to retire? Fascinating map shows the income needed for senior citizens to live comfortably in each state
Retirement will cost more than twice the amount in Hawaii than Mississippi
The average annual cost of retirement across all 50 states is $68,000
Assuming 3 percent inflation those entering retirement would need $3.5 million
Betcha he gots one fancy government healthcare plan….
Mr Scalise was diagnosed with multiple myeloma on 8/29/2023 and is undergoing chemotherapy.
Hey man,
When you gotta go, you gotta go. And if the man’s gotta piss, ya better let him piss and not confront him, lest his 12 y/o passenger will light you up while you bleed out in your career Sonic job parking lot….
Texas boy, 12, is convicted of shooting Sonic restaurant worker dead with AR-15-style rifle during argument with another man in the parking lot
A 12-year-old Texas boy was found ‘delinquent,’ which is the equivalent to guilty in juvenile court, of a murder charge in the May shooting of Matthew Davis
The victim was arguing with Angel Gomez, 20, the driver and uncle of the boy
The child grabbed an AR-15 from the car and fired six rounds at the victim
These fckers are about to learn actions have consequences. I hope they get named and shamed and ruin their careers before they start
https://nypost.com/2023/10/11/harvard-students-take-back-support-for-hamas/
Not sure where you get the $3.5 million from, since most folks will be getting $20,000 to $30,000 in social security.
Where I get it from? An article. I’m not a math major.
“according to study by GoBankingRates”.
Not sure who they are, or this one, who comes up with a different number. But then again what is “comfortable” is very different between individuals.
On average, people believe they should save $1.27 million for retirement
But the typical American only has $89,300 saved, Northwestern Mutual found
1987 condo says:
October 11, 2023 at 5:56 pm
Not sure where you get the $3.5 million from, since most folks will be getting $20,000 to $30,000 in social security.
Phoenix
Have you seen this trend in your gym?
https://youtu.be/avvtXJgB2Mo?si=uS3bYwTeO23Ohl39
lol, future lawyers of America
https://nypost.com/2023/10/11/harvard-students-take-back-support-for-hamas/
A casino owner finally gets to feel how a casino player feels walking out of a casino.
Boo F’n hoo.
The CEO of MGM Resorts International has blasted the hackers behind a $100 million attack that crippled its casinos as ‘corporate terrorism at its finest.’
Bill Hornbuckle also insisted the company did not pay ransomware hackers’ demands, after previously declining to comment.
No, not personally. I have no doubt it happens. But most women at the gym I go to are not friendly at all. No smiling, all have a severe case of RBF. It’s okay, helps you concentrate on your workout anyway.
Hold my beer says:
October 11, 2023 at 7:41 pm
Phoenix
Have you seen this trend in your gym?
https://youtu.be/avvtXJgB2Mo?si=uS3bYwTeO23Ohl39
Cancel Culture when will it end