From NJ.com:
N.J. real estate listings down slightly. See full list.
The number of newly listed homes in New Jersey dropped by less than 1% in June compared to the same time last year, according to Realtor.com.
In June, 9,256 listings were added to the housing market statewide, compared to 9,334 last year, ranking New Jersey seventh lowest nationwide for growth in new home listings.
New Jersey was ahead of Minnesota, North Dakota and Oregon, ranked first, second and third lowest – the worst nationwide – for growth in new home listings.
first
Talked to the waitress at Spikes in point pleasant. She said this is the weakest summer she can remember. Empty from mon through wed. Weekends are normal though. Usually when we get these huge no rain stretches, it’s a gift from the gods to the shore tourism industry.
There are a lot of economic signs that the economy is turning. The question is, will the FED lower interest rates quick enough to stave off a larger than necessary recession. I’d say no and I prefer it that way.
Lib; Low interest rates are not necessarily to be welcomed for stocks, if recession is on the horizon. I have heard lots of empty shore houses this year, with lots of availability . Article in Marketwatch discussing how people earning 100k or more, are cutting back spending.
Lib is spot on. Former So. Brick Beach, Mantoloking resident here.. now in New Smyrna Beach, FL for years… NSB just like Jersey Shore like Lavalette, to Pt. Beach as an example. Weekly condo rentals at 40 pct. Airbnbs same… the parking lots don’t lie. Weekends are good as Orlando is a 45 min drive. Schools go back mid August and then we go into the “ very slow “ season before the winter “ settlers “… enjoy while we can. Always learn so much on the NJRE site. Always a fan of Lib ( and Capt. Cheapo ) much respect my friend…
Thanks Dave. Just keepin’ it real!
Need a good tiler recco. Pretty big flooring job. Large kitchen, two bathrooms, foyer and fireplace floor and front. I’m not looking for luxury contractor. Just someone who tiles clean. Easy job and no fancy cuts. I don’t need to pay for artisan. Let me know.
I found a great exterior painter that was half the price of the regular guys in the area. Former Wall Street guy too. Had enough of the grind and decided to work with his hands.
Libturd,
Going back to the inverted yield curve as a leading indicator of recessions, (see Campbell Harvey) note that yield curves typically uninvert just before recession as the Fed tries to hurriedly cut rates to avoid it.
Less inventory today than a year ago? Eff you, pay me.
Mantalooker,
I grew up in DeLand not so far from New Smyrna. Though my family tended to go to either Daytona Beach or Merritt Island when we went to the beach. I heard the kids trying to surf would go to NSB. 45 minutes to Orlando sounds optimistic given how bad the traffic has become. I have an old work friend who retired to live somewhere on that beach named Don Madden.
Spikes is getting eaten up by the competition.
Point Lobster opened a restaurant around the corner at the fish market. Atlantic Offshore did the same down the road on the other side of the street.
Three businesses, essentially identical, within a half of a mile. Spikes used to be the only one like it. Spikes has always sucked, I prefer Point Lobster.
My son buses tables at Atlantic Offshore a couple of days week, place is always packed. Just happy a 15 year old has a job.
I have yet to eat at point lobster. I do frequently purchase their fresh caught fish/lobster just about every time I’m there. I usually cook it at home. I haven’t been to Atlantic yet. Is it good?
It’s really hard to go from what you get food wise in Maine back to the jersey shore but its still decent.
Dave,
Love NSB, its on Mrs. Fabs list of places we can retire to. I have friends that just sold a three bed Condo they were trying to AirBnB, the numbers just weren’t working for them and I think their local management were ripping them off.
Fun fact, I called 911 when the Ocean Breeze Tiki bar went up. I was staying in the Springhill Suites across the street and my kid woke me up with “Dad there’s a fire across the street!”
Looks like we‘ll be able to buy our neighbor’s house. The old lady was in her 90s and died last fall, then her daughter inherited it. I just need to remove the fence dividing the property and our yard is significantly bigger. Should work out the details of the sale in August.
Lib, can you provide info on exterior painter?
Thx.
Elon trolling Kamala with a deep fake.
https://twitter.com/elonmusk/status/1816974609637417112
https://nypost.com/2024/07/27/us-news/lets-go-brenda-nj-store-waste-no-time-mocking-kamal-harris/#
Half of all states have at least one city where the typical starter home costs $1 million but the study showed California is in a league of its own, with 117 such cities. New York (31) and New Jersey (21) ranked second and third on the list. Florida and Massachusetts rounded out the top five with 11 cities each.
The report notes that markets with the most restrictive building regulations tend to have more cities with $1 million starter homes. Those same markets also have lower homeownership rates.
Dozens of cities around metro New York City, San Francisco and Los Angeles made the list, as well as multiple cities near Miami and Seattle.
“To make housing more affordable long term, it’s critical that we push forward policies that encourage and allow more construction,” Divounguy said.
According to the study, starter home values have gone up 54% over the past five years, outpacing the increase for the typical U.S. home during the same period.
LAX: It seems to me there will come a point where the prices are just not sustainable, and maybe we are there now. That would mean a big, big correction in prices.
3:22 totally. We’re in at $750k in Ventura Co. Now valued at $1m.
But I’m seeing “more house” demanded for that number. Love our place.
LAX: It’s insane. Ventura Cal is beautiful, but these insane prices are in non- descript/ marginal areas.
In other news Hezbollah attacked Israel’s Golan Heights and killed 10 civilians. Netanyahu is heading home to deal with yet another crisis.
It will be interesting to see how our co- Presidents react to this.
Ben Affleck has purchased a new multi-million dollar L.A. estate, TMZ has learned, all but marking the end of his marriage to Jennifer Lopez.
Real estate sources tell TMZ … Ben just closed escrow on the Pacific Palisades mansion for $20.5 million. The stunning residence has 5 beds and 6 baths with breakfast and dining areas, a separate family room, den, walk-in closets, media room, powder room, guest house and on and on and on.
3b,
It will be interesting to see how our co- Presidents react to this.
What if they “wag the dog” and support an attack on Gaza or Iran? Most in US won’t know one group/country from another and the media won’t help them know. DJT would likely have put sanctions on Qatar to help the hacksaw regime.
So the Villages had a Golf Cart Rally for Kamala. Deep Red FL going purple.
Lib, still feeling comfortable?
https://x.com/BarbieHardnHall/status/1817295743553556847
Left,
Donnie is now saying the quiet part out loud.
Trump: “Get out and vote just this time. You won’t have to do it anymore. Four more years it will be fixed. It’ll be fine. You won’t have to vote anymore…In four years you don’t have to vote again. We’ll have it fixed so good your not gonna have to vote.”
https://x.com/AccountableGOP/status/1817010508072882202
LBI is Hamptons South.
Dinner for 4 last night was $600. Kids stayed home, two pizzas were $60.
Median home price now around $2.3 million.
Grandma took the kids to the water park, that set her back $250 for 2 (TWO) hours.
No shortage of people, it’s packed. Pay up b!tches.
Hamptons might be cheaper.
Grim,
Those prices are transitory, no worries. Camella will implement equity by executive order when she takes office.
When you’re on speaker phone, do you hold your phone to your ear?
Asking for a friend.
Fast: At some point the prices collapse. Lots and lots of debt out there.
3b,
The credit card debt clock is rolling as quickly as the national debt clock. I bought VISA stock when it was first offered. I’ve currently made 12 times my initial purchase. The level of debt chubby Americans are carrying is mind-numbing. Though I’m financially sound, I refuse to needlessly toss myself into the abyss of over-spending. A nice dinner, a weekend away, that’s all good but I’d rather have a tuna sandwich for dinner than to regularly spend like a drunken sailor on over-priced nonsense from goods, food, services, etc. I just came back from Lowes; there’s a Halloween display there of a life-sized pirate. Price? Just under $400. Absurd!!
The past 4 years, it became a goal of the Jones family to get their vacation home. The amount of spending I see from my neighbors is ridiculous. They have two giant blue garbage cans and 4 recycling bins full of crap. My trash is a fourth of theirs. What the hell are they buying?
Fast: The level of debt is staggering, and compare that to the median amount people have in their 401ks. Maybe with the equity in their houses, they feel no need to save. You can’t eat your house though.
I don’t waste money like that either. We like to go out to eat, but it’s not all the time, and the places we go to are pretty reasonable price wise, even in this inflationary environment. I did all the expensive, sophisticated restaurants back in the day, and overall not impressed, except for the Post House which closed some years ago.
I see a fair amount of people that go crazy decorating at Halloween and Christmas. A huge waste of money, and I don’t know where they store all the crap at the end of the season. Less is more in my opinion.
WSJ article in the real estate section on how studio apartments are getting even smaller. Just stuff the young people in these shoe boxes, put the the refrigerator next to the bed, and use the coffee table as an exercise bench. What a wonderful way to live! No wonder why so many young people just want to live for today.
I just had to do a ShopRite run, it’s been a few months, family members usually do the food shopping. Anyway, I’ve been using the “Cheeze-It” rule to measure inflation for the last three years. Factor in eggs, meat, bread, processed foods, diary and the “Cheeze-It” rule is a common sense, spit ball estimate for overall price increases. A few months ago, the family-sized box was $6.99. Today? $7.49. I scoped out a few other random items and just chuckled at the prices… they are out-of-control! It’s nuts. I don’t care what the government and media is saying about inflation; it’s still in utter flames and everything is still rising. The price of EVERYTHING is dizzying!!
Fast: Yep, inflation is still high, it may not be rising as fast as it was, but it is not declining, as in going back to the levels it was act before the insane run up.
But, does not matter the Fed will signal this week a rate cut is coming, inflation be damned. Rates should not be cut, and in fact should be raised, but that of course is not going to happen.
3b,
Maybe the wind stopped blowing in the FED world but if they lower rates now, it’ll be a steady 4% rise in goods and services while wages rise at 2%. Inflation is still hot, I don’t give a shit what anyone says. Look at Grim’s comment above; $600 for 4 people for dinner? $60 for 2 pizzas? I have a friend who lives out in PA. He posted a pizzeria menu on Facebook. $32 for a large pie. Kirsten Gillibrand is on TV right now saying people in her district can’t decide whether to pay for food or medicine. Fucking insane.
Fast: I agree. It’s the new world we live in. What we see, hear, feel, does not matter, if the powers that be say otherwise.
Eddie,
When you’re on speaker phone, do you hold your phone to your ear?
Only if the other side speaks in a racist tone as you write here. Keep the volume low and hold it to your ear.
Only if the other side speaks in a racist tone as you write here.
I read that sentence above 10 times and this is what my brain says: “sao w esclat enp.u tedohoirftta e ryyh ii r rese ki ieahenonsts”
3b,
Didn’t Obammy say something on the lines that America’s best days are behind her and we need to accept that we’re sort of a perpetual .500 team now? Let’s deject the masses and groom them for a communal s0ciety.
Condo,
Cali Painting – Feel free to swing by my place to check quality. Guys went above and beyond what I expected. I wouldn’t complain if I paid double. They repaired all of my rotten window wood too. Lots of Bondo. Some, new wood. No extra charges. Use the paint the Wilbur recommends. He will prime first. None of that bullshit paint and primer in one. Guys sanded and pressure washed for almost a week before painting. It’s all about prep. Great hardworking team too.
Wil Hoover – 862-220-5104
Don’t be discouraged by their low cost.
Fab,
Actually, the complete opposite. Now that she is in the headlights, all of the truths are coming out and Trump is going to have a field day with them. Holy skeletons. More than ever, I believe Dems chose her to fall on the sword. If they go with Shapiro, game over. The honeymoon is just about over. She is yet to speak without the teleprompter. That’s when I expect her to perform as poorly as she always does. Whether it be her embaressmnet in Europe? Failure to be able to answer any questions about the border. Etc. Poor performance in Presidential Debate. The list is endless. The honeymoon should be ending in a couple of days. You better hope she dodges some bullets or hugs some fire coats.
Fast: I don’t recall Obama saying that, I believe it was something along the lines that we are not exceptional. No matter, I do think our best days are behind us in that the younger generations are screwed for a multitude of reasons. And, although some disagree, I believe the Boomers have played a big part in that decline.
Lib: I saw her speech/ conference after her meeting with Netanyahu, and it was totally reading off her teleprompter. As much as some will deny it, there is not one topic that she can discuss on her own. She is weak all around. Maybe, that’s why Obama waited so long to endorse her. At the end of the day we are stuck with two absolutely miserable choices for President. The Democrats here won’t admit it, but it’s true.
Obama, Pelosi and many others waited to endorse her. The rest were waiting for anybody to come out of the woodwork. I knew no one would. As for the large amount of dollars raised. It was all the money that was earmarked for Biden, but was never sent due to the impending loss after his debate performance.
It’s hard for people to put their biases aside and see logically what is happening here. The only thing that worries me is the pro choice vote. A lot of Trumpy women can not admit they are pro choice. Not in front of their men at least.
7:58 she’s going to win.
LAX,
I sincerely hope she does. But I doubt it will happen. I can’t stand Trump. Every time he speaks, it’s an embarrassment. He is a disgusting man! Plus, his family is so far from the typical American family. I’m sure if it’s Kamala, the country will continue to be run by Pelosi/Schumer, etc.
Fab – maybe for your low informed voters, they will you know save democracy and all..
“ I will secure our elections. Our goal will be, as I said, one day voting with paper ballots, proof of citizenship, and a thing called voter ID. (Applause) You know, when you negotiate and I do that with the Democrats and I negotiat them all the time on this. I say, look, we’re going to fix our laws with voting, we have to start with voter ID. Everybody has to — “No way!” — the discussion never even goes any further.
I say, we have to have voter ID. It’s called voter identification. “No, we’re not going to do it.” Now, there’s only one reason they do that. because they want to cheat. There’s only one reason.
You know, in their national convention, when they have their convention, they have a voter tag on them bigger than their chest, depending on who, whose, which chest we’re talking about. Bigger than this, I like this. It has their name, their serial number, it’s got the whole deal, middle name, past addresses, it’s got everything. Otherwise you can’t get into the Democrat National Convention.
But with voting, one of your most important things you can do, maybe in many ways your most important, they don’t want to approve voter ID. That’s because they want to cheat. But until then, Republicans must win. We have to win this election. Most important election ever. (Applause)
We want a landslide that’s too big to rig. If you want to save America, get your friends, get your family, get everyone you know, and vote, vote early, vote absentee, vote on Election Day. I don’t care how, but you have to get out and vote.
And again, Christians — get out and vote! Just this time. (Applause) You won’t have to do it anymore. Four more years, you know what? It’ll be fixed, it’ll be fine. You won’t have to vote anymore. My beautiful Christians. I love you, Christians. I’m a Christian. I love you. Get out. You’ve got to get out and vote. In four years, you don’t have to vote again. We’ll have it fixed so good. You’re not going to have to vote.“
Lib: You hope she wins, and that’s fine, but we will have a whole different set of problems, with Harris. She is as dangerous as Trump is in many respects and in some cases more. She is totally out of her league on every subject areas. We know the chaos we had from Trump, but we don’t know the chaos we will have from Harris. Her arrogance and cluelessness guarantees we will have chaos.
I don’t think she would rock the boat at all since she knows this is above her paygrade. I would expect about the same from her as we did from Biden. More green contribution payback, build back better infrastructure projects, etc. Supporting our war allies too. Let’s just hope she wouldn’t have to make any tough decisions. But it’s probably all moot anyhow.
Lib,
The only thing that worries me is the pro choice vote. A lot of Trumpy women can not admit they are pro choice. Not in front of their men at least.
Why would it be a worry? That Harris will win (or that Trump will lose)? Her agenda will be more or less standard Dem platform.
3b,
I don’t recall Obama saying that, I believe it was something along the lines that we are not exceptional… No matter, I do think our best days are behind us in that the younger generations are screwed for a multitude of reasons.
Quite true. Obama’s message was that it is a work towards a more perfect union. The best days are still ahead of us. Other countries are improving too, so the gap may be narrowing. The privileged population may wrongly feel like they are falling behind in comparison, but otherwise it will be all good.
My gut tells me that Trump will do little to expand his base. Say 35-40% of voters.
Kamala, on the other hand, will win the young voters and suburban women. Black America will also turn out. She’ll pick a solid running mate unlike her competitor.