From NJ.com:
More than 1 in 3 N.J. homes now mortgage free in major home debt shift
More than one-third of homes in New Jersey are mortgage free, mirroring national trends and reaching new highs, federal data shows.
U.S. Census data from 2022 shows that 36.7% of homes in New Jersey are owned outright, with no mortgage or home equity loan. That’s up significantly from 2010, when 28.9% of homes were owned outright.
The same trend is playing out nationally. In 2010, 33.8% of homes were owned debt free nationwide. In 2022, that number surged to 39.3%.
The increase in mortgage-free homeownership is likely due to a mix of factors, said Robert Scott, a finance and real estate expert and professor at Monmouth University.
An aging ownership group could have simply reached the end of the traditional 30-year mortgate terms, Scott said. Or, owners near the end of their terms could have refinanced when rates were low, allowing them to pay off loans early.
Another likely factor is owners who sold their homes for huge profits, allowing them to buy their next home in cash, Scott said. Second homeowners buying vacation homes in cash also could contribute to the rise.
First
Smells like volatility this morning.
Condolences to Discover’s US-based customer service teams…
https://www.cnbc.com/2024/02/19/capital-one-acquiring-discover-financial-services-report-says.html
Lots of morality and judgement when the poor take debt. None of that when the rich default
grim says:
February 20, 2024 at 6:43 am
Condolences to Discover’s US-based customer service teams…
No one cares if someone defaults. What we care about is when we are asked to bail out the creditors….to 100 cents on the dollar.
More than one-third of homes in New Jersey are mortgage free, mirroring national trends and reaching new highs, federal data shows.
Four more years for joe!
Here’s your new entry point for a standard house in a good neighborhood. We’re approaching 700k as the new baseline. No area is exempt now.
https://www.trulia.com/home/2625-cleveland-ave-township-of-washington-nj-07676-38053195
Just remember that with high property taxes, you never really own your home outright, you are just renting from your town with payments called property taxes.
No One says:
February 20, 2024 at 9:26 am
“you are just renting from your town with payments called property taxes.”
That may be true elsewhere, but not NJ. As Phil has reminded us many times, in NJ our highest-in-the-nation taxes reward us with a “rich basket of stuff” that doesn’t exist anywhere else on the planet. I mean really, how can you put a price on the wondrous things that we receive from Phil and the NJ Dems… /s
Just remember that with high property taxes, you never really own your home outright..
In 30 years from now, you’ll simply occupy a house based on qualified means to pay the taxes. The house won’t be yours, it’ll be owned by the state. Equity won’t exist. A typical cape in a ‘Lodi’ type town will have property taxes in the 50K to 60K range per year. That’s five grand per month. You want to live in Woodcliff Lake or Wyckoff? That’ll be ten grand per month. Upkeep on the house is also your responsibility.
BRT says:
February 20, 2024 at 8:53 am
No one cares if someone defaults. What we care about is when we are asked to bail out the creditors….to 100 cents on the dollar.
I’ve never been asked. Never been allowed to vote on it. The bribed politicians extort money from me and send it wherever they want. Looks like even the core of the Supreme Court has been infected now.
Comedian John Oliver offered Clarence Thomas $1 million a year to leave the Supreme Court after he was exposed in a series of expenses scandals calling his impartiality into question. Thomas was revealed to have failed to declare dozens of lavish trips and expenses paid for by Republican billionaire Harlan Crow.
Fast Eddie says:
February 20, 2024 at 9:10 am
Here’s your new entry point for a standard house in a good neighborhood. We’re approaching 700k as the new baseline. No area is exempt now.
https://www.trulia.com/home/2625-cleveland-ave-township-of-washington-nj-07676-38053195
The American dollar is Monopoly funny money now.
Every house of cards eventually collapses. Same with every civilization. The clock is ticking for America.
https://youtu.be/-f4YVMZfuSo?t=4344
corrected time stamp
https://youtu.be/-f4YVMZfuSo?t=4476
ChiFi where’s 10 yr at?
grim says:
February 20, 2024 at 5:53 am
Smells like volatility this morning.
Fast: When the name of your town starts with Township, that’s worth more than if the name of your town starts with Borough. Township sounds much more prestigious.
Phoenix,
Why are you so happy about looking forward to the collapse of America? Same question goes for Small Con and Fat Eddie.
Phoenix, if the country hits splitsville like your marriage, you can kiss off Medicare, Social Security and your job. Whatever takes over healthcare will be very 3rd worldish. You are going to need to mover over to red country and do backroom abortions to make a living.
Small Con, for you there is not going to be a WalMart to be a greeter at and I don’t think anyone is paying you a $1 for manual release.
Fat Eddie, I think the T-Shirt and Sneaker market for “Better a Russian bitch, than a proud American” is over saturated with all the loser boomer meth head from red moronville states.
BRT, your post a few days ago, about escaping to PA in case of nuke’s. Are you eating your students’ gummies? If you noticed with Covid, the lack of societal cohesion and cooperation went right out of the window within a few weeks. This is no longer pre 9/11 America. You going into PA is the fastest way you get shot at. There are a lot of miserable depressed older people (boomers) that are taking out the misery on every one else – take a look at the 2 geezer clowns running for POTUS.
Actually, for nuke issues. You evacuate before. Not after. If you survive, stay hidden from the fall out for at least 48hrs. Is great if it rain. And remember that you want to be uphill, upwind, pink (got rid of all your clothes) and wet (good wash down).
PS. I do I agree that the danger is way high now vs. the cold war. The Soviet Union had a logical politburo. Russia now has a lonely old psychopath.
Soviet Union think from Octopussy https://youtu.be/x99njmZxaMA?si=TTauC7vJDJQYuaW9
Putin now, a man who lost his essence, from Dr.Strangelove https://youtu.be/tyOLJ99ysdU?si=itdTIrdqAY4u7YR4&t=213
When the name of your town starts with Township, that’s worth more than if the name of your town starts with Borough. Township sounds much more prestigious.
I’ll go one better: ‘The Village of _____’
That’s gold right there.
“Better a Russian bitch, than a proud American”
She’ll do things your… oh, never mind.
Fast
You will own nothing and be happy.
TakeYourLithiumProzac AndScheduleYourHeadElectricShockTreatment says:
February 20, 2024 at 10:44 am
Princess, your own words:
“PS. I do I agree that the danger is way high now vs. the cold war. The Soviet Union had a logical politburo. Russia now has a lonely old psychopath.”
It’s your type that is going to cause the destruction should it come about. I’m merely pointing that out. Create a monster, you will get one.
The conglomerate’s got you in lock and key
We put the dollar back into idolatry
If you’re upset, you can rent an apology
We are a family forged in bureaucracy
No “I” in “team,” but there’s “con” in “economy”
Were you expecting adventure?
Were you hoping for fun?
My friend, you’re indentured
And pleasure’s exempt from your tenure
So venture back down to your slum
That’s provided at generous prices
Your worth is determined by your sacrifices
A small term of service when down on the surface
Internment’s a freebie that comes with the purchase
We work
To earn the right to work
To earn the right to work
To earn the right to work
To earn the right to work
To earn the right to give
Ourselves the right to buy
Ourselves the right to live
To earn the right to die
Fast: Agreed, The Village of is much more prestigious. It just oozes wealth and a charming old world sophistication.
Ho Ho Kus has the highest median incomes in Bergen Co, that’s not what one might think.
What about “The Villages” Like in Florida. Where the oozing comes from the sores on the genitals of old rich sophisticated geezers shacking up?
Though The Villages – which spans three counties with 40,000 homes and more than 70,000 residents – boasts 34 golf courses, nine country clubs, two downtown squares and a slew of restaurants and bars, getting lucky is one of the residents’ primary pastimes.
The huge complex began growing rapidly in the mid-1990s, and reported cases of gonorrhea rocketed from 152 to 245, of syphilis rose from 17 to 33, and of chlamydia from 52 to 115 among those 55 and older in Florida from 1995 to 2005.
The state’s sexually transmitted disease rate among those over 65 is one of the fastest growing in the country, one report claims.
In 2006, a local gynecologist reported that she treated more cases of herpes and human papillomavirus at The Villages than she did when she worked in Miami.
“I get offers for sex all the time,” brags Dave, 70, who, like others who spoke about their sexually active set, asked that his real name not be used, “especially by women in their 70s. They say, ‘Are you busy tonight? I’ll show you a good time.’ ”
3b says:
February 20, 2024 at 11:42 am
Fast: Agreed, The Village of is much more prestigious. It just oozes wealth and a charming old world sophistication.
LithiumLady says:
February 20, 2024 at 10:34 am
“Why are you so happy about looking forward to the collapse of America?”
Not speaking for others, but my comments aren’t cheerleading for a collapse, they simply reflect the collapse that’s already happening as this once-great country descends into a leftist-led national insanity. The fact that toxically-feminized dopes like you don’t care about Dem-led cities abandoning the rule of law, or moronic DEI armies destroying what were once world class universities, companies and government institutions, or trannies leading story time in elementary schools, or the federal government refusing to secure our borders, etc, etc, doesn’t mean these symbols of collapse are actually OK. It just means that guys like you are toxically-feminized dopes.
Phoenix
Are the villages your new vacation destination?
10:34 nailed it.
Just curious, I’d like to hear various people on this board’s perspective on El Salvador’s policies and their results regarding the murder crime rates.
BRT,
I’d say cracking down on crime and criminal gangs is good. But I would be worried that some people are having their rights violated in El Salvador if they are arresting people merely by association. As some Jan 6 protestors claim happened to them.
Hey all. Been away for a while. Super Bowl party in Reno was awesome. Gambling wasn’t. Really couldn’t hit a thing. Had a great time in Tahoe/Carson City and did a bunch of non-gambling things. Followed it up with a ski-trip for the D near Lake George. I haven’t skied in ten years or so, but it was nice to see I haven’t lost a step. The traffic coming home yesterday was awful. The northway was a parking lot from just past Albany to the 287 exit. Then this morning, had to drive to Springfield, by Union. Left the house at 7:15am, didn’t get there until after 8am. Coming home at 8:30am was no better, so took the back way for the 45 minute trip that at least moved. Traffic in the Northeast is getting completely out-of-hand.
Hold my beer says:
February 20, 2024 at 1:30 pm
Phoenix
Are the villages your new vacation destination?
Why tap old when you can tap young?
Trump’s ties to Russian mob.
https://www.reddit.com/r/politics/s/8txR2lwAua
Read the comments, fascinating.
Sanctions. Like he should give a Fu cc. Until all that is left is to push the red button. That should eliminate the homeless and refugee problems in one shot. Plus get rid of the LGBTQWXZ, woke , racism, and reparation issues as well.
WASHINGTON, Feb 20 (Reuters) – The U.S. will announce a major package of sanctions against Russia on Friday over the death of opposition leader Alexei Navalny and the two-year Ukraine war, President Joe Biden said on Tuesday.
Biden, speaking to reporters as he departed on a trip to California, did not give details.
BRT,
About El Salvador, first read up history a bit. Classic feudal plantation economy/theocratic state.
A few old, and I mean old (late 1500’s) descendants families of Conquistadores that got at the same time both Royal Spanish land grants “Haciendas” and Catholic Church Enmiendas or permission to own the souls of everyone in those granted lands. They are generally whites.
You got mestizos (mixed whites & indigenous) which is most of the population and get stepped on. Then you got the indigenous which usually are non-spanish speaking and get treated like crap.
Then you get into the early 20’s century, when mainly the United Fruit Co and other US business interests using Sullivan and Cromwell bought out big chunks of land for agricultural, mainly bananas plantations.
Then you get to the Cold War years with John Foster Dulles as Sec of State (Track 1) and his brother Allen Dulles as CIA director ( Track 2) influencing the area to keep out communism, but all it did is to reinforced that old system and you had civil war all the way present. Until the late 80’s is was Cold war related, since then is Drug Trade related.
More importantly is the amount of immigrants that came to the US from that area in the 80’s. Many remained illegals, by coincidence of where they settled many of those immigrants’ kids became involve in street gang criminal culture. Clinton sent them back to El Salvador, Honduras, etc.
Of interest is that the police and military in El Salvador and its neighbor were non- chalantly abusive, trigger happy, and never got shot by civilians because lack of weapons. They only got shot at when they were dealing with rebels.
The newly arrived gang bangers where not afraid of shooting back and were happy to actually engage in gun fights with the police/military. And of course they activated their criminal links to get deeper into the drug and gun trades. Which has led to massive societal issues and is one of the reasons you saw waves of immigrants from those area.
To give you an overview of the basket case of Latin America. This is Ecuador’s at that time President Correa in 2014 at the University of Costa Rica. Is in Spanish, activate the CC in auto translate in English to read in bottom.
https://youtu.be/9-w8XB-t-mQ?si=YtmWnzDD9vCf3Fcy&t=3882
What are going to do? Ban borscht imports and make Tetris illegal?
Yes, it’s been well established El Salvador has had a tough run over it’s history, but I was asking about your thoughts on the current state of affairs.
No One, Bukele responded to that issue
https://twitter.com/nayibbukele/status/1759770508847939768