From JD Supra:
New Jersey Releases Fourth Round Affordable Housing Calculations; Identifies Present and Future Need for 150,000 New Units Throughout State
The Department of Community Affairs (DCA) has released its “fourth round” affordable housing calculations for the coming decade, 2025 to 2035.
The DCA has identified the need for approximately 150,000 new low- and moderate-income housing units to accommodate both current and projected affordable housing needs throughout the state.
Property owners or developers interested in residential development should consider this the optimal time to evaluate whether the fourth round of affordable housing compliance can provide opportunities to obtain the necessary local entitlements.
The DCA’s calculations identify a current deficit of 65,410 low- and moderate-income units and project the need for an additional 84,410 low- and moderate-income units during the ten-year period comprising the fourth round. Because of the need to subsidize affordable housing units through the construction of market-rate housing, most of these units will need to be developed as “inclusionary units” of an overall mixed-income development wherein roughly 80-90% of the units will not be restricted as affordable housing units. After allowing for various bonus credits permissible under the law, if all remaining units identified by the DCA end up being developed, this would likely result in the development of hundreds of thousands of new dwelling units.
Under the affordable housing law, all New Jersey municipalities are now required to adopt a resolution determining present and prospective housing needs by no later than January 31, 2025. Municipalities must then publish a copy of this resolution on their website within 48 hours of adoption. Given the calculations performed by the DCA, deviating from those calculations could make a municipality susceptible to challenge. Challenges to a municipality’s determination must be filed to the newly created Dispute Resolution Program by February 28, 2025.
This represents something like 250,000-750,000 total new housing units to be constructed.
You’ve got the 1:20 ratio for affordable units in larger scale developments (builders remedy), which would suggest 750k, but then back out the rehab and standalone.
First.
And second, Grim, it ain’t gonna end well.
Seems lately like being accused of being a pedo, or raping someone, is the “go to” in the toolbox you use to discredit someone.
Even the PoPo are scared of this, watch the videos of drunk women, as soon as the women whimper just a bit, the arrest turns into an hour production, with the male cops holding thier hands in the air like they are surrendering, and the female cops coming off as being tough as they arrest the female criminal. Male cops are really scared of being accused.
The Democratic Party’s vice-presidential nominee has been falsely accused of sexually molesting students. The claims have been spread by a former deputy sheriff from Florida,
Full-throated? Like Linda Lovelace?
Guess he likes a face full of Zelenskyy’s seed. Hehe.
Interesting choice of words NYT.
Defense Secretary Lloyd J. Austin III on Monday offered full-throated support for Ukraine’s fight against Russia
Where are towns going to put all of these new housing units? Will they use eminent domain to seize blocks along main street to put up high rises?
We will do whatever we want to do.
Signed,
Your Masters. Hehe.
Now go salute that flag. After you get off your knees that is.
Hold my beer says:
October 23, 2024 at 7:44 am
Where are towns going to put all of these new housing units? Will they use eminent domain to seize blocks along main street to put up high rises?
Not really wrong
https://pbs.twimg.com/media/GagE2fOXUAAhstU?format=jpg&name=900×900
Anywhere a builder can amass a tract of land.
For sure there will be opportunities to assemble and consolidate properties. The trick in that is to be able to do it with enough secrecy that nobody knows you are doing it.
Plenty of cheap office complexes – just like Toys R Us (American Cyanamid really).
Example Walt Disney.
grim says:
October 23, 2024 at 7:58 am
Anywhere a builder can amass a tract of land.
For sure there will be opportunities to assemble and consolidate properties. The trick in that is to be able to do it with enough secrecy that nobody knows you are doing it.
Radical Rightwingers and Liberals love to live in NJ. Blue States are hugely attractive to NJ republicans. Nobody wants to live in Republican run southern states.
Everyone in here, particularly the rightwingers, aren’t moving to the south. We need more housing.
grim says:
October 23, 2024 at 6:34 am
This represents something like 250,000-750,000 total new housing units to be constructed.
You’ve got the 1:20 ratio for affordable units in larger scale developments (builders remedy), which would suggest 750k, but then back out the rehab and standalone.
Anyone familiar with Tower Hill for homeowners insurance? We have a short term vacation rental in Florida and Progressive is pulling out of the state.
WTF is wrong with you? You are channeling your inner No One.
Phoenix says:
October 23, 2024 at 7:08 am
Full-throated? Like Linda Lovelace?
Guess he likes a face full of Zelenskyy’s seed. Hehe.
I was down south over the weekend. Beautiful, open spaces, lots of cows and guns. You can breathe freedom. Plenty of land and open spaces, rural, almost deserted. Maga controlled.
Nobody moving there
Insurance in FL is a merry go round. I’m friends with the top insurance broker in my town and every year he shops around for the best available homeowners and flood insurance. One year ended up with Lloyds of London. I trust the guy to tell it to me straight.
I think in FL with the insurer turnover, it behooves you to find an insurance broker (that you trust) to do the due diligence and shop around for you. Though I’m not sure how to shop around for an insurance broker, unfortunately.
No One,
Those two recent hurricanes really turned things upside down in Florida. Besides just hunting for a decent policy it looks like they are offering a lot less for the money. We are using a new insurance broker and he at least seems very responsive in answering my questions. We also switched property managers which I‘m extremely happy about.
Ten 425
Wishing you and me both good luck this renewal year!
Every time I take the train into Hoboken, there’s another apartment building going up. I fully suspect the swamp just west of Tonnelle Avenue and the Charlotte Circle to be known as the new Hoboken West. There once was a Hoboken West. :) Anyway, keep plowing land.
DJT at $36 and change. If you bought 1000 shares a month ago, you could’ve turned a nice score. So, does it keep rising? Is it an election indicator? Cumella is up in 5 of 7 swing states and +5 nationally so, what does it mean?
Hold: You would be amazed to see where they stuff these apartments in towns in Bergen Co. Paramus already heavily trafficked will be even worse.
Even if Trump wins is there any reason to think DJT is fundamentally worth anything?
Sounds like the equivalent of a political cryptocoin or NFT. Trading on vibes.
Hold: You would be amazed to see where they stuff these apartments in towns in Bergen Co. Paramus already heavily trafficked will be even worse.
Don’t worry, it’s all good bro! What are you a NIMBY? I said the same thing in my last visit of Bergen County. I couldn’t believe where they put them. The worst spots.
You’re the pumpee, get ready to be dumped.
Won’t be long before you can jump rooftop to rooftop from one end of Bergen county to the other. If you have the stones, skill, and legs that is.
3b says:
October 23, 2024 at 10:58 am
Hold: You would be amazed to see where they stuff these apartments in towns in Bergen Co. Paramus already heavily trafficked will be even worse.
US existing home sales fall to 14-year low in September:
https://finance.yahoo.com/news/us-existing-home-sales-fall-140141499.html
10:24 move your 401k to DJT
Move it out the day before the election. Profit.
LAX says:
October 23, 2024 at 11:23 am
10:24 move your 401k to DJT
Time for some really low interest rates. Need to pump up this economy, but the pump has leaky seals. Gonna need some very strong priming for this one.
Then give it a year. That seal will pop out completely.
Fast Eddie says:
October 23, 2024 at 11:22 am
US existing home sales fall to 14-year low in September:
https://finance.yahoo.com/news/us-existing-home-sales-fall-140141499.html
Phx: they don’t control the Ten. They cut and now it is going up.
They have to cut spending.
“They have to cut spending.”
BWAHAHAHAHAHAHAHAHHAHA
BRT: Cardboard attached shacks for all. No need for SFH with baackyards and front lawns. It’s progress!
Feds big rate cut a mistake.
Hey, what happened to Cumella? She looks like she hasn’t slept in days. She looks like crap.
How many shares do you own?
Or is it all talk like those imaginary Disney shares you sold
Fast Eddie says:
October 23, 2024 at 10:24 am
DJT at $36 and change. If you bought 1000 shares a month ago, you could’ve turned a nice score. So, does it keep rising? Is it an election indicator? Cumella is up in 5 of 7 swing states and +5 nationally so, what does it
Housing market on track for worst year since 1995.
BRT
In my town the land along highways and transformers is getting filled with luxury apartments. There are now so many I’ve seeing couples pushing strollers on sidewalks along the highways. WTF? Who wants to go for a walk along a 6 lane road that crosses a highway? You could get in the car and drive 2 miles and have your choice of paved walking trails. Bizarre.
BREAKING NEWS!
By Eileen Sullivan
Reporting from Washington
Oct. 22, 2024
A federal judge on Tuesday ordered Rudolph W. Giuliani to turn over most of his possessions and available cash to a receivership controlled by the two Georgia election workers he defamed after the last presidential election.
Mr. Giuliani, 80, has seven days to make the transfer, which includes his New York apartment and his vintage Mercedes-Benz, once owned by the actress Lauren Bacall. The judge also ordered him to turn over certain pieces of furniture, his television, sports memorabilia, jewelry and 26 watches, including one that Mr. Giuliani said his grandfather gave him.
VSG
You like the finer things in life. Have you signed up to bid on infowars stuff at the liquidation auction next month.
https://fortune.com/2024/09/25/alex-jones-infowars-auction/
Hold: There is a development on the side of the Garden State Pkwy,I believe around Garfield, or somewhat south of there. When you sit on your balcony, you have the beautiful view of the back of a Home Depot. Luxury living!!
3b
If it was a Lowe’s they could charge more for that view.
No One says:
October 23, 2024 at 9:42 am
“Insurance in FL is a merry go round…it behooves you to find an insurance broker (that you trust)…”
I’m becoming cautiously optimistic (longer term) on the FL insurance problem — we actually just got word that our association insurance for my community in SWFL will go down next year. I think the changes they’ve implemented to reduce frivolous and fraudulent lawsuits are beginning to draw some re-insurers back to the state. It’s very early, but at least there are some hopeful signs.
I’d bid on Rudolf Guilinis NYC apartment
Hold my beer says:
October 23, 2024 at 12:59 pm
VSG
You like the finer things in life. Have you signed up to bid on infowars stuff at the liquidation auction next month.
VSG,
Or is it all talk like those imaginary Disney shares you sold
Let me know when you want to meet up, I’ll show you the transaction. Would you like to make a wager on it?
Phoenix says:
October 23, 2024 at 7:08 am
“Defense Secretary Lloyd J. Austin III on Monday offered full-throated support for Ukraine’s fight against Russia”
Speaking of which, with the North Koreans joining the party, SlowJoe will be leaving behind quite a legacy — ongoing and expanding wars in both Europe and the Middle East. Maybe one will explode into WWIII and mark an appropriate ending to the worst presidency of all time.
SlowJoe will be leaving behind quite a legacy.
Just think, dementia isn’t really that bad. Who would have thought that you could get a career as President being demented.
Luxury cardboard attached shacks. You have to keep her happy. The word luxury is enough to get her excited at least for a little while.
3b says:
October 23, 2024 at 12:30 pm
BRT: Cardboard attached shacks for all.
I’d bid on Rudolf Guilinis NYC apartment.
I thought the third wife got that in the divorce.
“DJT at $36 and change. If you bought 1000 shares a month ago”
We have the new Pancake in a Can! Pumps you can take a break.
SmallGov,
My insurance broker and another friend of ours who deals with the state legislature talk about how they started putting forth some reform in the special session. Roof lawsuits are like the new “slip and fall” for the ambulance chaser lawyers in FL. There are roofing companies that aren’t in the roofing business, they are in the “generating lawsuits for associated lawfirms” business. Stories about roofing companies that would walk around on roofs and start breaking tiles, then have homeowners sign deals where the lawyers and roofers get a piece of the lawsuit against the insurers. What happened after an unwise “consumer friendly” legal change over a dozen years ago is that people are basically demanding their insurance companies to pay for their new roofs whenever there are leaks, regardless of the true cause, of the age of the roof, etc. Then when they don’t, they get hit by a lawsuit even more expensive than the roof, which the insurer has to pay regardless. So insurance companies are refusing write for any houses whose roof is over 10 yrs old, the ones that didn’t bail out of FL entirely after spending so much money on lawsuits. The law essentially was making home insurance a roof repair payment in installments, rather than protection against real accidents that damage roofs (your 40 year old roof leaking in a rainstorm isn’t really an accident, but the old law effectively said it is). Felt like “free money” for homeowners and their lawyers and the politicians they supported for a dozen years, till they find out that most insurance companies fled the state.
Anyway, my Insurance Broker and our retired reinsurer CEO friend both think it was more the legal change than the hurricane losses that screwed up FL homeowner insurance. I’m not sure but I think this year there were changes made in a special emergency session in Tallahassee such that insurers can now make stipulations in roof coverage that can protect the insurers from the lawyers and make it feasible to re-enter the FL insurance market, though they were saying that it could take some time to get the desired effect.
I’m sure I have a few of the details wrong, but you get the gist of it.
Horny little devil…..
A Texas teacher was seen grinning in her mugshot after her arrest for allegedly having a sexual relationship with her former student.
Angela Barnes, 45, a teacher at Carroll Middle School in Southlake, was taken into custody after officials received a tip that she was having a sexual relationship with the 15-year-old boy.
Phoenix
I just saw that. South lake is the short hills- milburn of DFW.