5 Housing Markets Where Renting Beats Owning
By AnnaMaria Andriotis
In theory, plummeting home prices and record-low interest rates should make buying a home cheaper than renting one. But experts say in some parts of the country, it still pays to be a tenant.
Despite the incentives to buy now — namely that average rates on a 30-year mortgages are now 3.7% — sales of single-family existing homes slipped 1.5% in May from a month earlier, according to data released today by the National Association of Realtors. Experts say the drop, which came during the historically busy spring season, suggests the housing market has a way to go to recover. If anything, the ranks of American homeowners are dwindling. The homeownership rate in the U.S. fell slightly from 66% to 65% during the first quarter of 2012 — the lowest in 15 years, according to the latest data by the U.S. Census. (It peaked at just over 69% in 2004.)
Renters, meanwhile, have more inventory to choose from as owners who are unable to sell their homes often have no choice but to find tenants, says Dan McCue, research manager at Harvard University’s Joint Center for Housing Studies. The number of single-family homes for rent or being rented grew by two million units from 2006 to 2010, according to a JCHS report released this month, and McCue says the number has likely grown since then. “One third of all rentals are single-family homes,” he says.
$9 Billion in ‘Stimulus’ for Solar, Wind Projects Made 910 Final Jobs — $9.8 Million Per Job
By Michael W. Chapman and Fred Lucas
June 20, 2012
(CNSNews.com) – The Obama administration distributed $9 billion in economic “stimulus” funds to solar and wind projects in 2009-11 that created, as the end result, 910 “direct” jobs — annual operation and maintenance positions — meaning that it cost about $9.8 million to establish each of those long-term jobs.
At the same time, those green energy projects also created, in the end, about 4,600 “indirect” jobs – positions indirectly supported by the annual operation and maintenance jobs — which means they cost about $1.9 million each ($9 billion divided by 4,600).
Combined (910 + 4,600 = 5,510), the direct and indirect jobs cost, on average, about $1.63 million each to produce.
“NJ Residential Foreclosure Transformation Act” the largest state land grab in history
June 21,2012
the staff of the Ridgewod blog
It’s called A.2168 – “NJ Residential Foreclosure Transformation Act” ,and despite huge fiscal and emotional opposition at Monday’s New Jersey Assembly Appropriations Committee hearing from Eagle Forum of New Jersey, multi-New Jersey Tea Parties and taxpayers, A2168 or the “NJ Residential Foreclosure Transformation Act” passed out of Committee via strictly partisan votes. A.2168 – “NJ Residential Foreclosure Transformation Act” has now been hurriedly scheduled for a vote Thursday, June 21 , in the NJ State Assembly.
The Bills opposition cited: the huge cost of the Bill and the ” indeterminate fiscal impact on State and local government” .The Office of Legislative Services; cited the Bill (known as both A2168 and S1566) as just another bank bailout .
“NJ Residential Foreclosure Transformation Act” is the largest state land grab in history, The state will manage property in your neighborhood ; a serious, and growing threat to neighborhood stability considering the rapidly expanding mortgage foreclosures and the questionable, broad-based use of such properties.
The “NJ Residential Foreclosure Transformation Act” turns the State into a realtor who can purchase foreclosed and market rate houses in ANY neighborhood, and turn the foreclosed houses into ‘affordable’ housing for 30 years. In addition to low and very low income households, the affordable housing will include ex-offenders, AIDS/HIV patients, the homeless and ‘individuals in other emerging special needs groups identified by State agencies’. Look for decreased property values, increased local taxes, neighborhood transformation and less local autonomy. .
Unfortunately market based solution to sell these very affordable priced homes at auction via private, responsible buyers and without big government involvement would create a huge loss of local tax revenues which doesn’t sit well with Trenton .
Contact info here:
https://www.njleg.state.nj.us/ members/roster.asp
Governor Christie: 609.292.6000
A little Tired of Jon Stewart mocking Mitt Romney for being rich
Mike Huckabee
The Daily Caller got a little tired of the liberals’ favorite “Everyman,” Jon Stewart, constantly So they did a little calculating. They estimate that at his current $15 million salary, Stewart must be worth at least $80 million. If that holds up, by the time he’s Romney’s current age of 65, he should be worth $320 million, or $70 more than Romney. And that’s not even including appreciation on his assets, like two mansions in New Jersey and a 6,000-square-foot Manhattan penthouse. But to be fair, they note that those properties aren’t owned by Jon. They’re owned by private trusts named after his pets, presumably to avoid taxes. Wow, can you just imagine the hilarious jokes Jon Stewart would tell about this story – that is, if it were about Mitt Romney?
5PM HEAT UPDATE: The Bergen Record is reporting that 4 ambulances responded to treat family members who passed out due to the high temperatures in Bruins Stadium in Braddock Park. Several other schools have moved their graduation indoors due to the heat including Palisades Park Junior/Senior High School which will hold its graduation in the school’s auditorium Wednesday evening, Teaneck High School’s Thursday graduation has been moved to the Rothman Center at Fairleigh Dickinson University, River Dell High School’s graduation ceremony remained scheduled for Thursday; but members of the public will be able to view a live broadcast of the ceremony in the air conditioned rooms of the high school’s auditorium, library and cafeteria.
Heat: No plans to move Graduation Day Ceremony from RHS Stadium Field
June 20,2012
the staff of the Ridgewood blog
Ridgewood NJ Thursday just may just be the hottest day of the year ,with temperatures expected to reach just south of 100 degrees weather conditions not exactly ideal for a high school graduation on a turf field.
Near record temperatures have not deterred School officials and according to Superintendent Daniel Fishbein there are no plans for last minute changes.
In an email Superintendent Daniel Fishbein detailed the steps being taken to prepare for the extreme heat assuring all that there will be plenty water available for the graduates and invited guests.(https://ridgewood.patch.com/articles/ridgewood-preparing-for-extreme-heat-on-graduation-day)
Among the common sense suggestions and information are : make sure you stay hydrated and bring water.,carefully decide whether to bring elderly and health impaired relatives or friends to the ceremony.,dress appropriately for the heat, there will be tented areas for graduates who feel they need to get out of the sun, and the Village is prepared with emergency services .
We all remember the flash flooding, last year so ably handled by the former RHS principle Lorenz .
According to Dr. Fishbein ,”This year it will be heat. All part of the graduation experience people will talk about for years.”(https://ridgewood.patch.com/articles/ridgewood-preparing-for-extreme-heat-on-graduation-day)
The ceremony begins at 5 p.m. this Thursday at Ridgewood High School Stadium Field .
Heat Wave: Prolonged period of excessive heat and humidity.
Heat Index: A number (in degrees Fahrenheit) that tells how hot it really feels when relative humidity is added to the actual air temperature. Exposure to full sunshine can increase the heat index by 15 degrees F.
Heat Cramps: Muscular pains and spasms due to heavy exertion. Although heat cramps are the least severe, they are an early signal that the body is having trouble with the heat.
Heat Exhaustion: Heat exhaustion typically occurs when people exercise heavily or work in a hot, humid place where body fluids are lost through heavy sweating. Blood flow to the skin increases, causing blood flow to decrease to the vital organs. This results in a form of mild shock. If not treated, the victim may suffer heat stroke.
Heat Stroke or Sunstroke: A life-threatening condition when the victim’s temperature control system, which produces sweating to cool the body, stops working. The body temperature can rise so high that brain damage and death may result if the body is not cooled quickly.
Know What to do When a Heat Wave is Predicted/Happening
Slow down! Avoid strenuous activity. If you must do strenuous activity, do it during the coolest part of the day, which is usually in the morning between 4:00 a.m. and 7:00 a.m.
Stay indoors as much as possible. If air conditioning is not available, stay on the lowest floor, out of the sunshine. Try to go to a public building with air conditioning each day for several hours. Remember, electric fans do not cool the air, but they do help sweat evaporate, which cools your body.
Wear lightweight, light-colored clothing. Light colors will reflect away some of the sun’s energy.
Drink plenty of water regularly and often (even if you aren’t thirsty). Your body needs water to keep cool.
Water is the safest liquid to drink during heat emergencies. Avoid drinks with alcohol or caffeine in them. They can make you feel good briefly, but make the heat’s effects on your body worse. This is especially true about beer, which dehydrates the body.
Eat small meals and eat more often. Avoid foods that are high in protein, which increase metabolic heat.
Avoid using salt tablets unless directed to do so by a physician.
Signals of Heat Emergencies
Heat Exhaustion: Cool, moist, pale or flushed skin; heavy sweating; headache; nausea or vomiting; dizziness; and exhaustion. Body temperature will be near normal.
Heat Stroke or Sunstroke: Hot, red skin; changes in consciousness; rapid, weak pulse; and rapid, shallow breathing. Body temperature can be very high – as high as 105 degrees F. If the person was sweating from heavy work or exercise, skin may be wet; otherwise, it will feel dry.
Know What to do When a Heat Emergency Occurs
Heat Cramps: Get the person to a cooler place and have him or her rest in a comfortable position. Lightly stretch the affected muscle and replenish fluids. Give a half glass of cool water every 15 minutes. Do not give liquids with alcohol or caffeine in them, as they can make conditions worse.
Heat Exhaustion: Get the person out of the heat and into a cooler place. Remove or loosen tight clothing and apply cool, wet cloths, such as towels or sheets. If the person is conscious, give cool water to drink. Make sure the person drinks slowly. Give a half glass of cool water every 15 minutes. Do not give liquids that contain alcohol or caffeine. Let the victim rest in a comfortable position, and watch carefully for changes in his or her condition.
Heat Stroke or Sunstroke: Heat or sun stroke is a life-threatening situation. Help is needed fast. Call 9-1-1 or your local emergency number. Move the person to a cooler place. Quickly cool the body. Immerse victim in a cool bath, or wrap wet sheets around the body and fan it. Watch for signals of breathing problems. Keep the person lying down and continue to cool the body any way you can. If the victim refuses water or is vomiting or there are changes in the level of consciousness, do not give anything to eat or drink.
Angry public wants treason charges for media leaks
June 19, 2012
Paul Bedard
Washington Secrets
The Washington Examiner
@SecretsBedard
A clear majority of Americans believe the media is jeopardizing national security when publishing intelligence leaks, but the degree of anger depends on their political bent.
According to Rasmussen Reports, 82% percent of conservative voters think publishing secrets hurts national security, a view shared by 68 percent of moderates but only 56 percent of liberals.
In a poll that damns the media and the administration, 72% of likely U.S. voters say the leaks undermine national security. Rasmussen adds that only 14% believe the media is providing a public service when it releases that information.
Most importantly, some 51% of voters said leaking classified documents is an act of treason, bolstering congressional and Justice investigations into leaks that led to stories about the killing of Osama bin Laden and the high-tech raid on Iran’s nuclear facilities.
Superintendent Daniel Fishbein Promises RHS Bridge will be open for Graduation
June 18,2012
the staff of the Ridgewood blog
Ridgewood NJ, The long delayed opening of the RHS/Stevens field bridge may finally be at hand . Ridgewood Schools Superintendent Daniel Fishbein said at Monday night’s BOE meeting that the bridge will be open in time for the Ridgewood High School graduation ceremony on Thursday, June 21.
file photos of RHS Bridge
The bridge connects Stevens Field to the main RHS campus and RHS Stadium . The bridge was found to be structurally damaged in late 2009. In November of 2011 the bridge was finally shut down to both pedestrian and vehicular traffic. Repairs cost the BOE approximately $85,000 .
The RHS bridge has been closed since November due to serious structural problems. Years of flooding, wear and tear and old age had finally taken its toll.. Repairs began in May , and as work proceeded it became apparent that the bridge needed far more work than originally anticipated. Bad weather and construction related delays have also pushed back the project.
FRIDAY, JUNE 15, 2012
BY LAURA HERZOG
STAFF WRITER
THE RIDGEWOOD NEWS
Behind The Stable on North Maple Avenue, beside the Ho-Ho-Kus Brook, there was once an aging headstone.
It wasn’t for a mother, father, daughter or son.
It was for a dog whose name – Friskie – was spelled out in pebbles pushed into the stone’s drying cement.
While the headstone may not be visible today, likely buried in the dirt after years of disturbance from construction and flooding, it was once a piece of Ridgewood history. According to a former Ridgewood resident who wrote a new book on The Stable’s history, Friskie used to belong to the man who owned the last working farm in Ridgewood – as well as the stable that eventually became the town’s community center.
This and other facts about The Stable’s more than 100-year-old history are explained and revealed in “Mr. Lester’s Farm,” a 32-page children’s book written by Joe Grasso.
3 Day Ridgewood Summer Invitational: July 6-8, Ridgewood, NJ
by nationalhistorybeeandbowl » Thu Jun 14, 2012 10:13 am
Hi Everyone,
I’m pleased to announce that Ridgewood High School will be hosting the Ridgewood Summer Open on July 6-8 at Ridgewood High School in Ridgewood, NJ. These tournaments are open to everyone from middle school to those long since graduated from college. Ridgewood High School has generously given us the run of the place from Friday afternoon through (likely) Sunday afternoon to host copious amounts of quizbowl. Here’s a current tentative plan, subject to change pending interest:
Friday afternoon/evening (beginning around 5pm or so) –
Open packet submission tournament, if there is enough interest (i.e. make your own teams – no need to limit yourself to who was/is on your high school or college team). Please power mark the set, and write to an HSNCT level of difficulty. Keep tossups to 525 characters or less, please, including spaces. Distribution is:
4/4 Lit (1 US, 1 European, 1 non Western, 1 your choice)
4/4 Science (1 Bio, 1 Chem, 1 Physics, 1 something else)
4/4 History (1 US, 1 Modern or High Medieval European [1000<], 1 non Western, 1 ancient defined as until 1000 CE anywhere)
1/1 Geography
1/1 Current Events
1/1 Other Social Science (psych, anthro, soc, etc.)
2/2 Religion, Myth, Philosophy
1/1 Art (including performing arts)
1/1 Music
1/1 Trash
1/1 Your Choice of 1 Lit, Science, or History
Saturday (beginning around 10am or so; lasting until about 7-8pm) – edited for clarity @ 2:55pm on 6/14
Mirror of ATTACK (i.e. the set Adam Silverman wrote) – teams solely by high school affiliation, including for those long and not so long since graduated (with the exception of current HS coaches who can play with their team members!). There will be some sort of divisional classification so as not to frighten the children. If there is interest from teams who would like to come to this, but who have heard ATTACK, let me know, and I will likely be able to get my hands on an additional set.
Sunday (beginning around 10am or so; lasting until about 6-7pm) – edited for clarity @ 2:55pm on 6/14
Ridgewood Summer Set – this is being written as we speak. I will edit everything non-science. If anyone would like to help with science editing, please let me know. This set will be power marked and be of moderate high school difficulty. Teams will be done by high school and/or college affiliation; graduating seniors can play with either their high school or college. Those who are beyond graduating senior in age, though, have to play with their college affiliation (either undergrad or grad). The college division can also have teams that consist of alumni, however, these would be classified under a different set of teams from all undergrad. Provided there is enough interest to run a college division here, I will edit the version of the set that division uses to be somewhat more difficult.
Rough Distribution for this (will have exact by June 25, but this is an RMP/Fine Arts heavy set, given the tastes of Ridgewood QB)
4/4 Lit
4/4 History
4/4 Science
3/3 Fine Arts
1/1 Social Science
2.5/2.5 RMP
1.5/1.5 Geo,Trash,Current Events
Advocates concerned about potential problems, fraud with Obama’s new deportation policy
Published: Sunday, June 17, 2012, 7:00 AM
By Stephen Stirling/The Star-Ledger
David Nachman is swamped.The immigration law attorney called his Ridgewood office to check next week’s schedule, only hours after President Barack Obama unveiled his plan to ease immigration laws for undocumented youth Friday.
“I’m booked solid,” he said. “Every single day, I don’t have anything left.”
Obama’s announcement that he would cease deportation prosecutions against an estimated 1.4 million young undocumented immigrants and offer them temporary work permits has sent state attorneys and service groups scrambling to understand its implications. Meanwhile, they’re bracing for a deluge of state residents without Social Security cards, desperate for any form of legitimacy.
Ridgewood PD forced to park on the top of Maple do to flooding at the Village Hall
Reauthorize and Reform the Flood Insurance Program
By David John
June 11, 2012
Congress should reauthorize and reform the National Flood Insurance Program (NFIP). The failure of Congress to pass a longer term reauthorization since the last one expired in September 2008 has delayed necessary reforms. In addition, since there are no private providers of general flood insurance coverage in the United States, all such policies come through the NFIP. The lack of reauthorization is increasing risk to both flood-prone properties and the NFIP itself.
One of the goals of the pending reauthorization is to ensure that all owners pay the appropriate actuarial premium rather than subsidized rates. This would be a first step toward encouraging private insurance companies to enter the market and would set the stage for an eventual move of the entire program to the private sector.
A Housing Market Without Fannie Mae and Freddie Mac: Effect on the Homeownership Rate
By Nahid Anaraki
June 11, 2012
Executive Summary:
For decades, Fannie Mae and Freddie Mac followed securitization policies that enabled Americans to make a low down payment when they purchased a house. This study analyzes the impact of affordable lending efforts by government-sponsored entities (GSEs) on national homeownership rate, by race, ethnic group, and census region. The results of this study suggest that despite GSE interventions in the housing market, the homeownership gap among races and ethnic groups persists because economic fundamentals and sociodemographic features, not interest rates, drive homeownership rates.
This paper uses three series of regression models to gain insight into the determinants of home ownership rates. The first regression model analyzes aggregate national-level data for 1980–2010. The second regression model analyzes factors that influence the homeownership rate by race/ethnic group for 1994–2010, where historical data are available. Finally, the third model analyzes homeownership by census region for 1992–2010, where regional homeownership data are available. The results of ordinary least square (OLS) models with robustness tests indicate:
First-floor repair work at Ridgewood Village Hall on schedule
THURSDAY JUNE 14, 2012, 12:01 PM
BY DARIUS AMOS
STAFF WRITER
THE RIDGEWOOD NEWS
Work to refurbish Village Hall’s flood-damaged first floor is progressing according to schedule and should be completed by September, Ridgewood officials said.
Concrete blocks were installed last week as part of a repair project to the first floor of Village Hall, which was damage by flooding during last year’s Hurricane Irene.
New concrete blocks were installed by contractors and settled into place last week, marking the first step of the construction phase to protect the interior of the municipal building from future water damage. The first level of the five-story complex, which is located in the Ho-Ho-Kus Brook floodplain, was decimated last year by several feet of flood water that rushed inside as a result of Hurricane Irene.
The bill for the clean-up effort alone was approximately $90,000. Ridgefield-based contractor Adamo Brothers won the construction portion of the job with a $275,000 bid in March and will complete the interior work, according to Village Engineer Chris Rutishauser.
AFP Takes Wind out of Environmental Extremists’ Sails on “Global Wind Day”!
June 15,2012
Steve Lonegan, State Director AFP
Asbury Park NJ , So much for having the wind at their backs? Today, AFP activists made the trek to Asbury Park and Ocean City to combat the radical environmentalists’ wind energy claptrap!
“Global Wind Day” was being used to indoctrinate kids with kites and coloring books and how windmills will cure the ills of the world, AFP went toe to toe with them to expose the facts about the high costs of wind energy and how it threatens our economy and very way of life.
Dozens of AFP activists went to Asbury Park, listened to a number of expert speakers and handed out literature and flyers to educate the public with the truth about the wind industry. Down in Ocean City, AFP activists, along with our friends at the Liberty and Prosperity group and the Greenwich Tea Party Patriots, were making their voices heard on the boardwalk.
One of our featured speakers in Asbury Park was state Assemblyman Michael Patrick Carroll (R-25), who has been a staunch opponent of wind energy subsidies. In fact, just this week Asm. Carroll co-sponsored a bill, introduced by Sussex County Assemblywoman Alison Littell McHose (R-24), that would repeal wind energy subsidies in New Jersey.
Legislation like this is a critical step towards rolling back the far left environmental agenda in New Jersey. Environmental regulations, fees, and subsidies are a huge reason why ratepayers in the Garden State pay some of the highest electric bills in the nation and our state lags others in economic growth. Asm. Carroll and Asw. McHose deserve our thanks and support for standing tall on this issue.
An Ill Wind Is Blowing ,it’s no coincidence that “Global Wind Day” is also the same day as the kick-off of the 20th Anniversary of Agenda 21 “RIO+20” Climate Change and Sustainable communities initiative.
The environmentalists behind “Global Wind Day” are part of a larger globalist movement that seeks to undermine American prosperity with a backwards, irrational attempt to force you and me to rely on far more expensive and far less efficient “renewable” sources like wind and solar that will wreck our economy.
These methods of generating electricity are not technologically advanced enough to compete in the free marketplace. It is only with massive taxpayer subsidies that they can stay afloat at all. That’s why lobbying by the wind industry has escalated dramatically in the past few years.
Increased reliance on “renewable” energy will result in a much less vibrant and prosperous America.Today was a successful and important effort by conservative activists to combat and refute this radical environmentalist agenda and stand up for economic freedom and the best interests of our nation.
The last thing we need is for America to be turned into Europe and for American exceptionalism to be tossed aside for some misguided quest to cure the ills of the world with expensive and unreliable windmills and solar panels.
