From Business Insider:
Millennials are moving to ‘the most boring places in the world’
For nearly two decades millennials morphed dense, amenity-rich urban neighborhoods across America into exclusive playgrounds for the young and childless. Compared with Gen Xers and baby boomers, a much larger share of millennials moved to cities in their young adulthood — and stayed for longer. They wanted craft-cocktail bars over picket fences, walkable commutes over two-car garages, SoulCycle over swimming pools. In turn, cities were yassified in their image.Th
That “youthification” trend has accelerated: Cities are getting younger, faster, from San Francisco to Boston, Salt Lake City to Seattle, Austin to Denver. But it’s not millennials who are making them younger — it’s Gen Zers. (Gen Z, it should be noted, isn’t exactly thriving in urban real-estate markets. About a third of Gen Z adults are thought to live with their parents, and many don’t think they’ll ever be able to own a home.) Millennials, meanwhile, are aging out and getting priced out into suburbia.
Recently, the Suburban Jungle Group, a real-estate advisory firm that specializes in helping New York City dwellers move to surrounding suburbs, has been getting a lot of calls from millennials freaking out as their lifestyle grows out of reach. They got pandemic-era deals and signed two-year leases, and they’re seeing their rent skyrocket. “Clients call us in a panic, saying, ‘I got my renewal, I have 30 or 60 days to let them know, and my rent is increasing up to 30-plus percent,'” said Allison Levine, the firm’s director of communications.
The pandemic only steepened a trend that’s been ousting millennials from cities for years: rising housing costs in cities.
Census data indicates that in 2022 adults between 20 and 29 were more likely to say they moved for housing-related reasons than for family- or employment-related reasons. Hyojung Lee and his colleagues at Harvard’s Joint Center for Housing Studies have found that cities with the most expensive rents and the smallest shares of apartments with three or more bedrooms lost the largest shares of their millennial population to the suburbs in recent years.
To Lee and his colleagues’ surprise, millennials aren’t moving to nearby dense, walkable exurbs. They’re getting way out to peripheral suburbs.
“It turned out that millennials are moving to the most boring places in the world,” says Lee, who’s now a professor at Seoul National University. “They’re moving to really single-family-dominated areas with very few urban amenities.”
John Natale, a real-estate agent based in Wall Township, New Jersey, calls this phenomenon “drive till you qualify.” He says it used to be that he could find his clients a home in their price range in whichever county they wanted to be in. Now, because prices in exurbs have swelled since 2022, his millennial clients are being priced out of anything within striking distance of New York. “People are adjusting one, two, maybe even three counties over just to be able to afford a house,” he said.
First
I purchased some emergency milk, eggs and bread last night and filled up my gas cans. All set for the power outage.
Ferry boat from NYC sent a text message last boat will be 4pm today due to storm, my better half will be working from home, no need to take a boat ride that will be tossed around like the SS Minnow. They are predicting huge waves tonight.
It’s a new moon tides will be high rivers and lakes are already full, if you are in a flood zone try not to drown while driving!
Phoenix says:
January 9, 2024 at 3:45 am
Another one. Just look at the pictures.
https://www.dailymail.co.uk/news/article-12940995/Glamorous-Missouri-math-teacher-26-charged-rape-having-sex-16-year-old-student-high-school-child-showed-friend-huge-scratches-victims-dad-faces-charges-allowing-relationship-happen.html#reader-comments
Poor kid. Got a problem, your mama tells you to call a cop. Now you have two problems, one is a bullet hole to the chest, the other is massive blood loss.
Confronting bodycam footage shows the moment a black 11-year-old boy was shot in the chest by police despite holding his hands up.
Aderrien Murry was awoken about 4am on May 20 to the sound of his mother’s ex-boyfriend behaving threateningly, so she asked him to call the police.
When officers arrived moments later, Aderrien said he was asked to step out of his room and when he did he was shot.
https://www.dailymail.co.uk/news/article-12939265/aderrien-murray-shot-indanola-police-greg-capers.html
Re: Drive till you qualify..
Too late the hillbillies see you coming..
Look at the price history.
https://www.zillow.com/homedetails/3-Arrowhead-Ln-Andover-NJ-07821/40094207_zpid/
Former President Donald Trump expressed his desire for a significant economic downturn within the next 12 months during an interview with Lou Dobbs.
Trump candidly mentioned his hope for a crash in order to harm President Biden and improve his own chances in the upcoming election.
Speaking with former Fox Business host Lou Dobbs, Trump was candid about his wishes for a substantial economic downturn in order to harm President Joe Biden’s re-election bid.
‘We have an economy that is incredible‘
‘When Donald Trump looks at America, he sees a failing nation,’ Biden said recently. ‘When I look at America, I see the strongest economy in the world … leading the world again’
Minors under 21? Since when is aa 20 year old a minor? Also the assumption on consumption rates too Is that true for other crimes? Should everyone get a free pass for any crime since they are a minor under 21?
https://www.nj.com/politics/2024/01/murphy-rejects-fines-for-minors-caught-with-alcohol-in-nj.html
If you have an affinity for third world countries and banana republics then you’re just giddy about the state of affairs. There isn’t a single institution that’s not in decline.
Cool they found the airplane door plug. Looks in pretty decent shape.
https://twitter.com/StansaidAirport/status/1744638568780222693/photo/1
Also Loose bolts……Perhaps Spontaneous loosening, or rotational self-loosening..
or that Gremlin from the Bugs Bunny cartoon is at it again..
“United, Alaska Airlines find loose hardware on door plugs on several Boeing 737 Max 9 planes
“United Airlines and Alaska Airlines say they found loose hardware on door plugs on several of their grounded Boeing 737 Max 9 planes, days after a door plug blew off an Alaska Airlines plane while it was in-flight.
“Since we began preliminary inspections on Saturday, we have found instances that appear to relate to installation issues in the door plug – for example, bolts that needed additional tightening,” United said in a statement to CBS News.”These findings will be remedied by our Tech Ops team to safely return the aircraft to service.”
Alaska Airlines said in a statement Monday night that, “As our maintenance technicians began preparing our 737-9 MAX fleet for inspections, they accessed the area in question. Initial reports from our technicians indicate some loose hardware was visible on some aircraft. When we are able to proceed with the formal inspection process, all aircraft will be thoroughly inspected in accordance with detailed instructions provided by the FAA in consultation with Boeing.”
United has 79 Boeing 737 MAX 9 planes. It didn’t say how many had loose bolts. Alaska owns 64 MAX 9s.
Here’s what to know about the Boeing 737 Max 9, the jet that suffered an inflight blowout
United said the aircraft with loose bolts are of various ages, and it doesn’t appear the affected planes were part of a group that came off the production line around the same time as the one involved in Friday’s incident.”
Now, because prices in exurbs have swelled since 2022, his millennial clients are being priced out of anything within striking distance of New York. “People are adjusting one, two, maybe even three counties over just to be able to afford a house,” he said.
50 pound bags of chex mix are on sale. I put them in little rainbow-colored containers and place them on the front porch with a sign that says, “Take one only please, sharing is caring!” Do your part to assist the youngsters.
Each and every week there is a debacle, often times multiple that remind us how this world we’ve become. The administration lost the whereabouts of the most important cabinet member for a period, were kowtowing and groveling with third world countries to ensure our security, the president has turned our interior security services into political persecution departments while opening the country to terrorists spies and criminals. He claims to be a defender of minorities while dumping millions of poor foreigners into their communities.
TraitorJoe,
The left says a vote for Trump will be the end of democracy and here we are, witnessing the demise of democracy under this administration. Irony at its best. I said history will mark the beginning of the fall of America under the Obammy regime and unfortunately, it’s happening much quicker than I thought.
The sheriff is a ….”bong”
Neighbor was putting chex mix bags out for the mailmen/delivery people. The crows came in, grabbed bags, took them up to my roof and opened them. They were getting stuck in my gutters.
These Marxist zealots tried to erase William penn. It wasn’t until democrats in PA stood up to them that they relented. They are extremist revolutionaries but they claim people who wave the flag are a threat. I don’t know how many people are still buying it but the country hangs in the balance.
TraitorJoe,
Do you play paintball?
Hehe. Younger employees are right in their beliefs. Old goats never want to give a raise, best thing to to is jump to higher pay. Work after 5pm, yeah, go to your courthouse or school and see what time they burn rubber leaving the parking lot. Working at home-bunch of people on here say it makes them as moist as a Duncan Hines cake, and that they are super duper efficient. And yeah, job training should be reimbursed.
I’d wager this old goat lawyer is pocketing 50 percent of his employees labor for himself, probably works from home, and quits at 3pm.
Reader: I’ve been practicing law for about 35 years, and my peers and I are having a hard time recruiting and retaining younger attorneys. I’ve been told that, on the whole, younger employees believe that:
Staying at the same company for more than a few years is too long, because you can get a bigger increase by switching employers;
Responding to clients or partners after 5 p.m. or on weekends is optional;
Working at home is just as good as working in person;
Employers should not expect them to invest their time in learning their job.
“best thing to to is jump to higher pay”
Until your kid or partner gets cancer. Then see how well they treat hop-around Harry.
You are mostly right, but there are advantages to staying with the same firm. It’s much harder to become a subject matter expert jumping around. Legacy knowledge, especially in proprietary systems, is invaluable to companies. It also changes your job responsibilities to one where you are more of a problem solver than a production grunt, which is so much more enjoyable. Though, yes, your salary won’t grow nearly as quickly. There’s more to life than a high salary. I really, really love my job. This is invaluable.
The article mentioned “younger” attorneys. Ones that are taken advantage of by cheap bas tu rds that refuse to hire those with experience.
When you are young, less likely to need medical insurance as well.
It’s when you become a boomer that you really cost the system money.
Lib/No one,
Been off site mostly since start of New year but good prediction that I will be bitching. Not about offers though. You need to have hiring first before I can complain about the offer. Is it worth replying to ranges 90k to 250k? That is the constant sh$tshow of market. What is worth my time to pursue? It ain’t 125k, 5 days on site in NYC. The delusion is really strong. Lib, I agree that staying put would be best as long as treated fairly and people value knowledge. A small firm may provide that. Larger firms don’t care about propriety knowledge. It is bottom line costs. We are in middle of chaotic org change and I had to handhold 4 different areas to ensure my lead had his contract renew and access in place. I knew exactly who to involve, systems to update and timing. No one gives a $hit. I told my new mgr of all behind scenes stuff and he said no time to question who failed. We have reg release (which I also hand held to get on track). I told him that this is why things fail bc the grease to get things done is never accounted in capacity and delivery planning. It is rare to find big org that gives a f$ck about your knowledge.
I enjoyed reading a new memo by Howard Marks of Oaktree and so I thought I’d post it here.
In his latest memo, Howard Marks considers what financial history can teach us about periods of easy money, the impact they have on investor behavior, and what happens when they end. He analyzes macroeconomic trends using insights from Edward Chancellor’s latest book The Price of Time: The Real Story of Interest to argue that we’re unlikely to soon see the return of the permissive investment climate that prevailed in recent decades.
h**ps://www.oaktreecapital.com/insights/memo/easy-money
I like Oaktree and Sequoia for that matter.
Winds are picking up near me.
I just came back from a few stops along river road in Edgewater. The water level was already pretty high, Edgewater is going to destroyed tonight.
I like Oaktree too, but they have a $100MM minimum investment. Womp wooomp!
I recently discovered that my no name goatee having technical analysis YouTube channel guy has a minimum investment too – for the fund he manages – and its $500K. WTF? What a time to be alive.
Do it yourself. It’s a farce that you need them.
With respect to the latter sure, you can arguably get the same returns with VTI/VOO and chill. On the former, you’re not going to argue that a pleb has the same kind of access to of markets and opportunities as Oaktree to replicate risk adjusted returns. Damn it Lib, I’m a [insert job title] and not a [Oaktree fund manager].
They have to outperform their fees. That’s a tough nut to crack.
On the former, you’re not going to argue that a pleb has the same kind of access to of markets and opportunities as Pegasus to replicate risk adjusted returns.
“Former presidents are shielded from prosecution for official actions”
Any doubt folks? I am not for immunity of anyone, especially diplomatic as it smacks of the aristocratic ways this county has been trying to shed 247 years of that crap. But there is plenty of history around this including the living presidents and cabinet members who exceptions from prosecution and heck extradition.
Yeah, there’s no doubt (in my mind) that Pegasus is being used by financial players.
Oaktree was cited a few years back for instructing a low level employee to make large donations to something something where a different Oaktree employee stood to be nominated to some governmental body with oversight on funding decisions.
I hate to sound like a prick, but in NJ so many over 45 have $500,000 investable. If they didn’t earn it themselves, it has been handed over…… it has nothing to do with anything special in NJ other than the cost of living and wages. I see it based on other parts of the country. I am 30% larger simply because I am here.
Boomer Remover says:
January 9, 2024 at 3:48 pm
I recently discovered that my no name goatee having technical analysis YouTube channel guy has a minimum investment too – for the fund he manages – and its $500K. WTF? What a time to be alive.
There’s not a doubt in my mind that your stat is solid. Look, I’d hand $500K to Howard all day everyday, because of the brand perception. I am just surprised that a small time shop like FL based Ciovaccio Capital Management, with 15K views on its YT videos is passing on < $500K accounts. I know nothing about the money management space, but judging by your response, you are telling me that I would be surprised to learn a few things.
Chi re “30% larger simply because I am here“
Nah it’s Jersey Strong…….
We need to bring back Rheingold Beer.
Boomer,
when I started tutoring, I was charging $60. I couldn’t get any work. The people assumed I was cheap and you get what you pay for. Every time I raised my prices, I got more work.
Horse-loving special ed teacher, Kara Lee, is charged with having sex with a male student – as furious parents say Arkansas school district was warned about scandal MONTHS ago
Kara Lee, 26, was arrested on Thursday for having ‘inappropriate physical touching and sexual intercourse’ with a male student
What about the horse? Was his name Special Ed?
“AI just jumped the shark”
Fonzies nephew is on the ski ramp with 10 chapters loaded on Quantum Computing.
“A former girlfriend of disgraced New Jersey senator Bob Menendez was accused by Virginia Giuffre of participating in orgies with her and Jeffrey Epstein, newly-unsealed court documents reveal.
She was photographed in 1995 with Epstein and Ghislaine Maxwell at Mar-a-Lago in 1995, and five years later, was back at Mar-a-Lago with Prince Andrew and Melania Knauss, Donald Trump’s girlfriend.”
Phoenix…. It may just very well be me, but, but…I am starting to sense a pattern in your contributions.
Just starting???
Stable you are some kind of real shill…
Menendez claims immunity in his court filing today in Federal court should be the news, not some dead man kidde fiddler girlfriend orgy news.
Menendez filed to dismiss the charges against him claiming immunity.
The fat little Hudson County sleezebag should be in jail a long time ago.
Phoenix’s pattern is this…
https://www.youtube.com/watch?v=0OTYdizres8&t=3s
You know that horse at minimum got a happy ending.
Also, since that teacher is mid at best, throw the book at her!