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In 2000 S&P was at 1520 , inflation adjusted for 14 years this is 2080. Today s&p is at 1870. DO YOUR MATH.
And of course this is only due to FED printing trillions of dollars, bailing out crooks, and creating a huge debt for you and your offspring.
Make sure you sell your liability house as high as possible because if you depend on the stock market you are doomed my friend.
Absolutely factor in inflation, but if you kept investing money & reinvested the dividends, you are now ahead.
And if you have taken a long term perspective like most of us, you've been buying stocks long before 2000 and you are way ahead of the game. The bears like to pick the high and make academic points that if you went in 100% at the high, you're barely ahead - but in real life, we kept investing and investing and that's why we're way ahead.
Warren Buffet believes in America. I believe in America. I will keep investing in American business. QE prevented the recession from turning into a depression. Yes, it has hurt income equality but that is because the poor aren't able to invest in the market. I won't fight the fed.
I hope you are right about Newark and Elizabeth, I really do, but you can't compare those places to Jersey City and Hoboken. From what I understand, Jersey City always had livable neighborhoods.
Unpredictable daily commutes in/out of Newark. The distance from Newark to WTC is about the same distance as Kew Gardens to Midtown. But I am confident that it will take less than 35mins from Kew Gardens Queens into Midtown than from Newark into Manhattan.
Just today, a big 30-60min delay for NJ Transit in/out of NYC. The Path train got loaded fast for going into NYC from Newark.
It's gridlocked anywhere in/out of Newark by car from 7:30-10am. The highways are jammed going into Newark because of the pathetic traffic light programming.
None of this is unique to Newark. Train delays, traffic and crumbling infrastructure describes the entire tri-state area. Holland and Lincoln tunnels are no better than midtown tunnel (from Queens), LIE stinks, LIRR gets canceled regularly, Metro North has delays and technical issues with trains frequently etc.. Newark is just 10 min to Penn Station (on a direct train) and about 20 min to WTC. Not bad at all.
None of this is unique to Newark. Train delays, traffic and crumbling infrastructure describes the entire tri-state area. Holland and Lincoln tunnels are no better than midtown tunnel (from Queens), LIE stinks, LIRR gets canceled regularly, Metro North has delays and technical issues with trains frequently etc.. Newark is just 10 min to Penn Station (on a direct train) and about 20 min to WTC. Not bad at all.
We'll see Staten Island become a big metro center before Newark because of the traffic situation. You're assuming on an ideal day in/out of Newark to NYC is smooth. I can tell you from experience in the last 10 years, there's nothing smooth going in/out of Newark to NYC.
I was forced to take a PATH train into NYC and delayed me about 20mins than usual.
These NJ transit problems are a common monthly or even weekly event especially when weather is factored in.
When I used to live in Brooklyn I didn't have the problem because I could easily switch transit by bus, different train lines, or car into the city.
Years ago it used to be doable to drive into the city when tunnel/bridge tolls were only $4, now it is $13 and will keep going.
Until NJ adds more train lines in/out of NYC to Newark and expand on the number of expressways in/out of Newark it is a terribly and poorly designed city to get around during rush hour.
We'll see Staten Island become a big metro center before Newark because of the traffic situation. You're assuming on an ideal day in/out of Newark to NYC is smooth. I can tell you from experience in the last 10 years, there's nothing smooth going in/out of Newark to NYC.
I was forced to take a PATH train into NYC and delayed me about 20mins than usual.
These NJ transit problems are a common monthly or even weekly event especially when weather is factored in.
When I used to live in Brooklyn I didn't have the problem because I could easily switch transit by bus, different train lines, or car into the city.
Years ago it used to be doable to drive into the city when tunnel/bridge tolls were only $4, now it is $13 and will keep going.
Until NJ adds more train lines in/out of NYC to Newark and expand on the number of expressways in/out of Newark it is a terribly and poorly designed city to get around during rush hour.
I have to say that from your recent posts, you really seem to have a negative outlook.
Yeah, a few trains got diverted yesterday. I was on one, it added 13 minutes to my trip. Oh well.
I have to say that from your recent posts, you really seem to have a negative outlook.
Yeah, a few trains got diverted yesterday. I was on one, it added 13 minutes to my trip. Oh well.
Suppose you live in Westfield. You need MINIMUM:
15min Home to station (even if it is less you cannot risk it)
55min actual train ride
13min delay
15min Station to work
so MINIMUM 1:40 one way or 3:20 both ways. Even if you get direct train to Penn you will not save more than 20 from that. But you will not get midtown direct because there is only one tunnel and there will not be another. Also because there is only one tuinnel you will always have those delays esp during rush.
Congrats. Spending all your savings or get a debt that you can HARDLY service so that you can live in a town with 3:20 MINIMUM commute to the city. I assure you that whatever free time remains after this commute will be spent in maintaining the house and other errands. hahahaha
Suppose you live in Westfield. You need MINIMUM:
15min Home to station (even if it is less you cannot risk it)
55min actual train ride
13min delay
15min Station to work
so MINIMUM 1:40 one way or 3:20 both ways. Even if you get direct train to Penn you will not save more than 20 from that. But you will not get midtown direct because there is only one tunnel and there will not be another. Also because there is only one tuinnel you will always have those delays esp during rush.
Congrats. Spending all your savings or get a debt that you can HARDLY service so that you can live in a town with 3:20 MINIMUM commute to the city. I assure you that whatever free time remains after this commute will be spent in maintaining the house and other errands. hahahaha
So you're building in the 13 minute delay (and you went with 15 minutes I guess) into your calculations to occur for EVERY trip BOTH ways????
I don't live in Westfield, but I also would guess that the time to station is closer to 5-10 minutes for most residents.
I'm also not sure why you think I (or Westfield residents) can HARDLY service their debt.... perhaps you are projecting?
I don't think that Harrison needs to gentrify before Newark. I think Newark goes first because its a large transit hub. The timing of it will depend on wether Wall Street keeps on going (ie people have $$ to spend) and how high and how fast NYC prices may go.. but yes Jersey City still has pockets for potential gentrification
I don't think it needs to happen before Newark, but I do think it will happen. Less challenges standing in the way of it happening in Harrison. Updated PATH station already. The Red Bulls stadium. And mostly, less local corruption/challenges. After Jersey City is more developed, I think you'll see the area around the PATH station in Harrison start picking up. I noticed when visiting my buddy in JC a few weeks ago that there's numerous new buildings being constructed now. So JC construction seems to be back in full swing.
Suppose you live in Westfield. You need MINIMUM:
15min Home to station (even if it is less you cannot risk it)
55min actual train ride
13min delay
15min Station to work
so MINIMUM 1:40 one way or 3:20 both ways. Even if you get direct train to Penn you will not save more than 20 from that. But you will not get midtown direct because there is only one tunnel and there will not be another. Also because there is only one tuinnel you will always have those delays esp during rush.
Congrats. Spending all your savings or get a debt that you can HARDLY service so that you can live in a town with 3:20 MINIMUM commute to the city. I assure you that whatever free time remains after this commute will be spent in maintaining the house and other errands. hahahaha
You speak the truth. Commute stinks. That said, unless you have $4m+ to spend on an apartment in a few decent neighborhoods in Manhattan or two closeby areas of brooklyn, your commute will stink wether you go to Kew gardens or westfield. So you may as well go with the best deal for your $$. Or, as they say, pick your poison.
Rates are in a record low, banks loosened their credit reqs, inventory is low but nothing sells. As I said, skyrocketed property taxes. renovation and maintenance costs make houses unaffordable and they will not sell without a significant discount. Most houses belong to retirees and they have not been updated adding hundreds of thousands to price in renovation costs. People have no money and no jobs.
Suburbs is a bad idea with their crumbling infrastructure, high maintenance old housing stock and commute. NJtransit is getting worse every day. Also schoolwise NYC has improved considerably so schools is not sufficient to make people leave the city.
I believe current pricing is unsustainable, depends solely on city folks that can sell their apt and buy a house and not locals, and I see more price cuts every day.
NYC has had some pretty good schools for a while. I don't think school is the primary reason people leave NYC as their families grow.
I see your point about housing that's in need of updating. My neighbor passed away, and someone bought the house and is doing a gut renovation right now. So there will be decent discounts to be had for sure. I don't believe they're spending hundres of thousands on the reno though. maybe $100-$150k.
So your premise is that people in NYC will stop moving out of NYC, and that is what's going to cause NJ home prices to drop?
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