From Zillow:
Home prices could spike nearly 5% in 2024: Zillow
Anticipating mortgage rates to remain elevated and new home listings to slightly rise in the coming months, some experts predict home prices would increase 4.9% from August 2023 through August 2024, according to the latest Zillow Home Value Index.
However, this marks a downward revision from last month’s projection of a 6.5% increase from July 2023 to July 2024.
“August brought an unexpected late-summer uptick in the number of new for-sale listings entering the market,” Zillow said in its data report.
New listings increased by 4% from July to August, according to Zillow’s home value index. That signaled the first time that new listings increased over those two months, according to Zillow’s records.
“To be clear, August’s new listings total – as well as total for-sale inventory – remains well below typical levels seen prior to the pandemic, and inventory conditions remain very tight,” Zilow said. “This unusual late-summer supply uptick helped to ease market conditions some, causing our outlook for home values to cool.”
First
“It’s easy to become inured to the extremism that has suffused the Republican Party in recent years. Donald Trump, the dominating front-runner for the party’s presidential nomination, spends days in court, in a judicial system he regularly disparages, charged with a long list of offenses and facing several trials.
In the House, Republicans recently chose a new speaker, Representative Mike Johnson, who not only endorsed the attempted overturning of the 2020 election but also helped to devise the rationale behind it.
We shouldn’t grow complacent about just how dangerous it all is — and how much more dangerous it could become. The efforts to overturn the 2020 election failed. We’re told that’s because the institutions held. But it’s more accurate to say that most of the individuals holding powerful positions within those institutions — the White House, the Pentagon, the courts, election officials in Georgia and other states — sided with the Constitution over Mr. Trump’s desire to remain in power.”
Don’t ever attempt to get justice on your own in NJ- do so at your own peril. Even you who get your carry permits.
I get it, he is an ex con. Ex con for what I don’t know. Maybe even for something he didn’t do. But at least he got justice for his friend, if not for himself.
NJ Ex-Con Convicted Of Fatally Beating Gunman Who Shot His Friend
Jurors in Paterson convicted a 40-year-old ex-con from Hawthorne of beating a city man to death moments after the victim had shot a friend of his.
No end to price increases?
Not too long ago I joked about my house selling for seven digits.
I seriously think it’s there.
30 year rates dropped to around 7.3% from 8% since the jobs report signifying a probable pause from the FED. That’ll keep house prices elevated as buyers try to muscle to the front of the bidding line. The question then becomes whether the fence-sitting sellers jump into the fray. What happens if rates fall below 7%? A chess game for sure.
Plummeting 2-year yields DON’T mean markets say the Fed is done. It was ALREADY implying that with the 2-year only at 5% (with Fed Funds rate at 5.25-5.5%). What it does say is that market believes Fed will start cutting rates soon. Odds of rate cut by next June jumped to 86% this week from only 50% three days ago.
Aka recession is def coming. Only a question of how severe.
Also, the 3-month bill is flat since the last rate hike. That implies the market saying the Fed was done a long time ago. The 2-year has been trying to figure when the cuts will start – NOT when the last hike will occur.
“Taxpayers shelled out almost $1 billion for infrastructure to support wind farm owners who then walked away. An additional billion would have been wasted in tax credits for Orsted, which they thankfully won’t be getting – so we’re told,” added Senator Mike Testa Jr. (R-1) who represents Cape May County. “There were also lots of other weird taxpayer funded projects like $5 million for a wind institute. That’s like taxpayers paying for an arena and a propaganda arm for a sports team owner who went elsewhere. Governor Murphy wants us to believe that taxpayer money wasn’t wasted because he got played.”
Fast: A drop from 8 to 7.3 won’t make much of a difference in the monthly payment. As for rate cuts end of 2024 at the earliest, and not to the extent some are hoping/ praying for.
Corporations run America with a license to steal.
No one putting a knee on their neck.
In China, they would all be killed.
If a house is in a real estate trust and the grantor goes on Medicaid what happens to the house?
Jerzzzzyyyyy. Bang.
https://youtu.be/1hCX-S7IC_I?t=69
clean energy is always a scam. They somehow always go bankrupt after milking subsidies.
Who among us locked in low? (Raises hand)
Guessing only a few want to leave those rates.
Thus the current market conditions. Shoot,
I’m happy.
Is the trust revocable or irrevocable? Any other assets owned by person or revocable or irrevocable trust? At least 5yrs(look back period) since ownership transaction before hitting nursing home?
If irrevocable and more than 5yrs since transfer, it should be good. An Irrevocable trust is an entity and will require tax filings, so if you do it it will save a lot of money.
If revocable or less than 5yrs since asset transfer is meaningless. Revocable trust is a probate skipping/easing of transfer at death not an asset protection vehicle. Therefore the State’s Medicaid agency will put a lien on it, that is updated yearly up total value of the house to cover the expected nursing home care for the following year. At death the amount paid by Medicaid is totaled and lien updated, when house sold State gets its money back.
Medicaid pays for nursing home, but the Medicaid section of a nursing home is the crappiest. Nursing home have the Medicare rehab section and the Medicaid section. Usually after an event like stroke the patient is admitted under Medicare Part B 100 days per year rehab and is kept in the nicer 2 patients per room max rehab area until those days are used up. If not discharged and staying under Medicaid then is moved to the Medicaid area which can have 4-6 patients per room packed tightly with separating curtains. Most nursing homes are part of Private Equity owned chains and they milk it as such, with staffing being the biggest constraint for nursing homes operators.
Frankly, in my opinion. If its heading that way and the assets can be sold off and a irrevocable trust created where the beneficiary will have enough monthly income to pay for Medicare + Supplemental + Rx or combined Advantage plan and any other medical expenses and pay the nursing home directly in full or even partially with Medicaid covering the rest of the custodial care expense, it will give you better options across the board.
More Jerzeey fun
https://youtu.be/zfQgk2MYV1A?t=53
Chapter one lesson today is how to put Granny on Government welfare and keep her money while she gets bedsores at cheap azz nursing home.
Chapter 2 will be how to sue nursing home should she die of Covid, bedsores, or syphilis from hooking up with roomate next door.
How about you just take care of your parents BOOMER. Even those backwood rednecks “The Waltons” in V.A took care of their parents.
GeezersCan’tKeepHouse UnlessYouPlanWell says:
November 4, 2023 at 1:16 pm
Is the trust revocable or irrevocable? Any other assets owned by person or revocable or irrevocable trust? At least 5yrs(look back period) since ownership transaction before hitting nursing home?
If irrevocable and more than 5yrs since transfer, it should be good. An Irrevocable trust is an entity and will require tax filings, so if you do it it will save a lot of money.
If revocable or less than 5yrs since asset transfer is meaningless. Revocable trust is a probate skipping/easing of transfer at death not an asset protection vehicle. Therefore the State’s Medicaid agency will put a lien on it, that is updated yearly up total value of the house to cover the expected nursing home care for the following year. At death the amount paid by Medicaid is totaled and lien updated, when house sold State gets its money back.
Medicaid pays for nursing home, but the Medicaid section of a nursing home is the crappiest. Nursing home have the Medicare rehab section and the Medicaid section. Usually after an event like stroke the patient is admitted under Medicare Part B 100 days per year rehab and is kept in the nicer 2 patients per room max rehab area until those days are used up. If not discharged and staying under Medicaid then is moved to the Medicaid area which can have 4-6 patients per room packed tightly with separating curtains. Most nursing homes are part of Private Equity owned chains and they milk it as such, with staffing being the biggest constraint for nursing homes operators.
Frankly, in my opinion. If its heading that way and the assets can be sold off and a irrevocable trust created where the beneficiary will have enough monthly income to pay for Medicare + Supplemental + Rx or combined Advantage plan and any other medical expenses and pay the nursing home directly in full or even partially with Medicaid covering the rest of the custodial care expense, it will give you better options across the board.
Geezers: Thanks for the information. The 5 year look back time is almost done. The house is in a real estate trust now, and supposed to be sold and the proceeds placed in the irrevocable trust to go to the grantors care. Some family members have other ideas ( self- serving greed), and are spending other assets down until the Medicaid application can be submitted and approved. Once that occurs what then happens to the house in the real estate trust?
Phoenix: These boomers I reference don’t want to do that. We on the other hand do. Unfortunately when everything was put in place years back a mistake was made in choosing more than one Trustee. The one who wants to do the right thing is outnumbered by the others. That’s where the problem lies. You would be amazed what family members are capable of doing. Sad but true.
3b says:
November 4, 2023 at 1:38 pm
Geezers: Thanks for the information. The 5 year look back time is almost done. The house is in a real estate trust now, and supposed to be sold and the proceeds placed in the irrevocable trust to go to the grantors care. Some family members have other ideas ( self- serving greed), and are spending other assets down until the Medicaid application can be submitted and approved. Once that occurs what then happens to the grandmother who wants to stay in her house?
If the trust is an irrevocable trust, what the trust owns does not matter. If the house is in the irrevocable trust and the 5yrs are up it does not matter for Medicaid purposes. You can keep the house and rent for income as an investment or sell the house and put the proceeds along with any other assets in the trust into a money market and fixed income portfolio administered by trustee and income reduced by administration expenses for the beneficiary’s need.
The trust is trust an entity whose sole purpose is to provide for the beneficiary. The beneficiary in the eyes of Medicaid is indigent because does not have enough income/assets outside of social security or pension if any to pay for the ongoing care required.
Indigent does not mean that a third party (the trust in this case) can’t gift charitable goods and services to improve daily living. The irrevocable trust’s job is to use assets for the beneficiary, whether is to have weekly outings, clothes, massages, hairdressers, mani-pedi, pay for dental implants, private duty nurse, etc with Medicare as primary and Medicaid as secondary paying for medical care and Medicaid paying for custodial care. (NJ Medicaid pays for dental care, other states like Florida only pay for extractions).
The issue is the trustee and its decision regarding who benefits. See today’s Washington Post story about a retired pilot’s guardianship in Florida.
Geezers: Thank you, that’s how I understand it as well. And it’s supposed to remain in effect until the grantor passes, at which point the trust is liquidated tax filings made, and distributions made to the beneficiaries. The people I reference appear to believe that once the person is on Medicaid, the house can be sold and the monies distributed. They are greedy and shameless.
3b,
Just realize the Irrevocable Trust appointed trustee(s) are running the show. If they decide to sell the house and use the proceeds to pay themselves handsomely with fees, expense accounts and spend away the trust that can happen and has happened.
That is why I made the reference to the guardianship article. Guardianships and Trustees once they are in power very few rules apply and is an expensive battle to remove them, because they can and will use the trust or guardianship assets to pay for the legal fight.
That is why entities like TIAA, Vanguard, JPM Chase, etc have Trust management departments for big monies. The little guy has to trust a relative if he wants to keep expenses down or local lawyer or reliable well regulated financial firm or bank to act as trustee if the relatives already have a drug habit.
Geezer: My spouse is the trustee of the irrevocable trust, and the co- trustee of the real estate trust, thankfully that was how it was set up. I could get into the rest of it, and it’s unbelievable, but won’t. The only reason we can think of as to why the others are doing what they are doing, is because they somehow believe that once the parent is on Medicaid, they can simply sell the house and get the proceeds. It’s the only thing that makes sense.
The trust legal documents may not allow the monies to be distributed till after death.
But the Trustees can spend the monies down into zero before and make the trust useless and meaningless before death occurs.
Guardians at least have to do court filing and ask judge’s permissions for many transactions.
Humans are weird creatures:
Janitor at New Jersey elementary school is arrested after ‘lacing canteen food with bleach, urine and FECES – and posting lewd acts with inanimate objects on social media while working’ – as children have reported diarrhea and vomiting
I’m so happy to have sold my house in NJ this past summer. I didn’t have a mortgage and put all the proceeds from the sale in CDs for the moment. Current rates on CDs are decent and I’m sleeping good at night. I’m currently in Germany where prices are way too high but have come down a bit recently. I honestly don’t know how the average worker here can afford to buy a place.
Geezers: Once the house is sold the money will go into the irrevocable trust, and my spouse as trustee will just drag the process out. In the meantime my belief is that somehow the others believe the house can be sold and they get the money then. Can’t make this stuff up!
3b,
Make it up, you have no idea what I see.
Just wait till they get sick, and you are operating on people who have terminal diseases that cannot be cured, they never get off a ventilator, and they die in the ICU after banging up a bill over 1M.
They could have stayed at home with their families, and looked at picture albums for their last days.
But nope.
If you made them pay the bills for the care their relatives received, care that made no sense at all being done, I’d bet things would change.
But hey, it’s job security for me. I don’t care what it costs, I get paid to do it.
I know what this stuff costs, and it’s a pretty penny that’s for sure. Not my decision, I’m just a grunt. But it pays the bills I guess.
Whew what a weekend so far.. We played the boys from Passaic last night at Theodore Roosevelt School on the river and lost! It was a pleasure watching and losing too as those boys played sooo well.
Today was the boys from Fairfield next to the highway, old school fenced in concrete field with no parking…We got crushed again….
I love the fact the new families that have moved here are keeping up the parks and fields. Not a piece of garbage anywhere and I was able to buy a coffee for only $1 last night! A Miracle!!
Anyone here running tommorrow?
Phoenix: I meant you would not believe what some people are capable of doing to their so called loved ones. You can have all the careful stuff planning you want, but if you chose the wrong ones to execute your wishes, then you are at their mercy when you start to mentally decline. Had my spouse been the sole trustee, this all could have been prevented, but unfortunately that was not done. The only good thing is the person this is being done to, does not know what is going on.
Anyone got a fireplace Guy? Need one for our coach, no way he can afford a $25000 rebuild.
3b – DUDE!!! For your own life stop now. Not worth any discussion further. The animosity will live well beyond reason and out lifetimes. Tell your better half move one.. Yes it sucks, don’t let it consume the future..
re: ” If its heading that way..”
At the point it’s curtains? Don’t waste the time remaining folks. Take them home and take time off. I don’t give a crap how anyone should and do feel about it, at this point in life they won’t be treated with respect no matters how much is spent…
I wish I was kidding…
“honestly don’t know how the average worker here can afford to buy a place.”
Convince their wife to start an Only Fans page perhaps?
Phoenix
My grandfather had dementia so bad he couldn’t recognize his kids, he’d had 3 strokes, 2 heart attacks, broken his hip 3 times, and was wheel chair bound and was expected to live less than a year. The doctors wanted to do a hip replacement. Why? Cause they wanted to pad that bill. My dad and grandmother told the doctors to pound sand
Hip replacement?
It depends. If the leg is fractured and is unstable, then it’s kinda weird leaving the guy with a fractured hip- a bipolar can be done in less than an hour. At least then he has a leg that is attached so no blood vessels/nerves get torn. It really is okay to do this.
Bill for that procedure- think low end of this, not total hip, bipolar hip, surgeon makes just over a grand give or take. Not exactly getting rich from that.
The American Association of Hip and Knee Surgeons (AAHKS) reports that the price of hip replacement surgery in the U.S. can be $30,000–112,000. The hip implant costs about $3,000–10,000, and the overall cost also includes staff and surgeon fees.
The average surgeon reimbursement from Medicare for this surgery is $1,375–1,450, according to the AAHKS.
Ahh, reminds of the days in 2017/18 screaming wayne and fairfield were the last great values in north jersey.
“Today was the boys from Fairfield next to the highway, old school fenced in concrete field with no parking…We got crushed again….
I love the fact the new families that have moved here are keeping up the parks and fields. Not a piece of garbage anywhere and I was able to buy a coffee for only $1 last night! A Miracle!!”
Hold, many of these surgical doctors have no soul.
Powers – Whachya doing in Germany? Work contract?
Prices in HCOL Polish cities approaching western jersey prices… it’s also crazy stupid considering prevailing wages.
HMB – “was expected to live a year”. Well, how long did he end up living?
BRT
They’re terrible. Another doctor killed a boomer relative of mine who had pneumonia. He was in the hospital and responding to meds but a doctor wanted to id the strain of pneumonia and did a bronchoscopy. Boomer got sepsis and never woke up. But the doctor and anesthesiologist got paid for an unnecessary procedure. Admitting er doc said it was a bs procedure since he was responding so well treatment.
Boomer
He lasted a few months.
Boomer Remover,
It is all a bit complicated. We decided to move here as my wife is German and has part ownership in a company that owns and rents out apartments and office space. She inherited that from her father and has ownership along with her cousins. It is challenging as many of these buildings were built in the 1960s and 70s. Renovation costs are high and there is a shortage of skilled laborers in Germany. I also worked in Hawaii years ago and fortunately we bought a house on Oahu which we have rented out long term. Currently we’re putting our US dollars into CDs and use Euro earned here for our living expenses. We are avoiding exchanging currency for the time being. I’m not optimistic about the future of the economy.
“…Representative Mike Johnson, who not only endorsed the attempted overturning of the 2020 election…”
So interesting to see the pink-sky-in-my-world liberal worldview….when Ds challenge an election outcome it is a challenge. When Rs challenge an election it is ‘overturning’…
“Don’t ever attempt to get justice on your own in NJ…”
NJ is an intellectual armpit.
Juice: Venting on my part. The right things were done and put in place, and they should be honored. It’s the right thing to do. The fact that some shady family members can team up and do what they want is shameful, but knowing some of them , I should not be surprised. That’s how they have lived their lives. As far as letting it go, we have to the extent we have removed them from our lives. That being said we won’t roll over, and condone what they are doing, which is what they want. As I said, I don’t know how these people can sleep at night.
“A drop from 8 to 7.3 won’t make much of a difference in the monthly payment.”
Think we mostly agree here the current shit show real estate market is a supply and not a demand problem mostly created by a bunch of kids who used to be picked on in HS and now in adulthood, having obtained major reins of power, decided to use the entire United States economy and its population as a laboratory for bad liberal arts theories taught to them in undergraduate studies with zero accountability for the outcomes?
In other words, nothing is getting ‘fixed’ any time soon absent a meaningful economic collapse….
Hey Left,
Are you having trouble discerning the difference between a court case involving a recount and a plot to replace electors? Is it reading comprehension or are you willfully ignoring facts and reality?
Think you are the one who is intellectually challenged.
“Trump Leads in 5 Critical States as Voters Blast Biden, Times/Siena Poll Finds”
https://www.nytimes.com/2023/11/05/us/politics/biden-trump-2024-poll.html
2:20 pretty sure once the GA case is resolved, Trump won’t be “available” to “serve” .
Trump Gets Closer to Trial in Georgia. Fulton County District Attorney Fani Willis has already induced four of Trump’s codefendants to serve as prosecution witnesses.
he main takeaway is that things aren’t looking very rosy for the defendant. The courtroom reckoning for the Trump Organization in New York has soaked up the most media attention, largely because Trump’s children have been subpoenaed to testify, and showcased comically implausible levels of professional amnesia. Jack Smith’s federal court case against Trump for his role in fomenting the failed coup of January 6 has also drawn a fair amount of commentary—notably from the defendant himself—most recently around Judge Tanya Chutkan’s reinstatement of a gag order on Trump. But Fani Willis’s prosecution in Georgia is making significant inroads in the less flashy realm of lining up actual evidence and witnesses to present in court.
“Hey Left, Are you having trouble discerning the difference between a court case involving a recount and a plot to replace electors? Is it reading comprehension or are you willfully ignoring facts and reality?”
Nope, neither.
I nearly wrote a dissertation here on the Electoral Count Act of 1887 as these events were occurring…go back and read those or the body of the Wiki entry if you’re feeling particularly intellectually lazy…
The R actions – not ‘plots’ – were consistent with meeting the dates specified in the Constitution and that Act in the event the Court challenges or State level disputes – not ‘plots’ – by the Rs succeeded…basically, to avoid the same demise as Gore in 2000 who could very well have won Florida and therefore the Presidency but got shut down because there was no viable alternative manner for FL electors to be recognized in the event the decision went Gore’s way…
But so nice to see you use pedestrian analysis and neutral terms like ‘plot’ to support the Left fascination with ‘overturning’.
Because of course everyone knows the best plots are hatched in broad daylight…/smh
Toss in a few “ELECTION DENIERS!!” and ‘duuuhhhhh-maaa-crazy’ is dyings for me now, willya?
“Jack Smith’s federal court case against Trump for his role in fomenting the failed coup of January 6…”
And which bastion of journalistic integrity did this beauty come from, lol.
pretty sure once the GA case is resolved, Trump won’t be “available” to “serve”
This is the 237th time we’ve heard he’s arrested, finished, convicted, condemned, fined and killed.
5:02 The Nation.
Link: https://www.thenation.com/article/politics/trump-georgia-trial/
Yup, good hard left lean there… is their ‘politics’ section deemed their editorial or is their actual reporting normally this unbiased.
Stay tuned you can read more outside of your echo chamber.
Like you SX, from the photos look like a guy I would have hung out with in the 90s in Chicago… but seriously saying I’m in an echo chamber while you quote from the Nation?
C’mon man, you dogged face pony soldier, you want to have a push up contest over it?
Dude, this is what i will be teaching kids 20 years from now if i am still strong enough to teach in an urban setting.
Globalization hit a roadblock, as demographics forced China to make a move and make up for dwindling U.S. trade
Powerful article that most will push aside.
https://www.wsj.com/economy/trade/economy-us-china-tariffs-trade-investment-1c58d24e?reflink=integratedwebview_share
6:52 you got me there! Damn it
LAX says:
November 5, 2023 at 5:57 pm
5:02 The Nation.
I am pretty sure the “NATION” is sick and tired of Joe’s 20% inflation….just sayin.
The most-searched sex position in every state
Alabama – Eagle
Alaska – Triceratops
Arizona – Butter churner
Arkansas – Speed bump
California – Cupid’s arrow
Colorado – Speed bump
Connecticut – Eiffel Tower
Delaware – Eiffel Tower
Florida – Corkscrew
Georgia – Spooning
Hawaii – Jackhammer
Idaho – Pretzel
Illinois – Butter churner
Indiana – Speed bump
Iowa – Pretzel
Kansas – Pretzel
Kentucky – Pretzel
Louisiana – Pretzel
Maine – Eagle
Maryland – Piledriver
Massachusetts – Speed bump
Michigan – Missionary
Minnesota – Pretzel
Mississippi – Pretzel
Missouri – Wheelbarrow
Montana – Lotus
Nebraska – Pretzel
Nevada – Pretzel
New Hampshire – Lotus
New Jersey – Prone
New Mexico – Pretzel
New York – Cupid’s arrow
North Carolina – Sniper
North Dakota – Pretzel
Ohio – Corkscrew
Oklahoma – Pretzel
Oregon – Eiffel Tower
Pennsylvania – Piledriver
Rhode Island – Eagle
South Carolina – Butterfly
South Dakota – Piledriver
Tennessee – Speed bump
Texas – Speed bump
Utah – Pretzel
Vermont – Wheelbarrow
Virginia – Cupid’s arrow
Washington – Wheelbarrow
West Virginia – Pretzel
Wisconsin – Speed bump
Wyoming – Eiffel Tower
NJ,
Where the lies roll off the mouths so easily.
https://youtu.be/5SHhbZJX3SQ?t=40
“Prone” NJ’s choice in sex & taxes
3b,
On the trustee tip. Our lawyer recommended to never make a trustee a family member for the exact reasons your family is suffering through. After Gator and I pass, D’s trust goes to a paid third-party trustee that will be chosen by my sister if we haven’t chosen before we pass. Most of our assets go to the trust upon our death. D should live a comfortable life when we are no longer around. Our older son will get a 1/3rd, but he has no role except can change the trustee to another third party if unhappy about its management. He cannot get at the molar himself.