[BobNJ1960]

Macys closing Meriden store, plus half Pier 1 chain will be closing. Pier 1 has several Ct stores.

[JayCT]

Originally Posted by MeaningIntheMeanwhile

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Originally Posted by JayCT View Post
You are confusing the fiscal health of a state’s government with the health of a state’s economy. They are two different things. New York State’s unemployment rate is 4.0% which is considered full employment. It also has the second highest Real Gross Domestic Product per capita in the country. I’d say that’s pretty impressive by any measure. Connecticut’s economy is similar with a 3.6% unemployment rate and being No. 3 in Real GDP per capita.

- No I am not. If you go back to the paragraph I wrote and read it carefully you will see that I was talking about the drop in real value of the money/buying power, ability of a NY to retire in their own niche which went down significantly and in absolute terms, having basic life necessities as a referent point. NYers are not amazed and ecstatic by NY's economy at all. Ability of NYers to retire in their own niche in comparison a period of true economic prosperity, for instance 1998-2001 had stumbled down. NYers not only feel it, but the proportion of the working and middle class actively contemplating about moving out state, while still in their 40s, because they will not be able to live in NY on their pension is larger then ever. NY is loosing population as well as CT regardless of the fact that NYC is advertised through mass media/movies shows as the most desirable city in the world to live in, where it all is etc - not only in the US but in Europe as well. That as little to NYers packing up because they have to unless they opt to live with roommates in their retirement, which some do. Unemployment rate that you bring up is irrelevant as one can be employed and unable to live on their salary. That is why many NYers work two or even three jobs, not out of enthusiasm and I am not event talking about PT Real Estate jobs many in CT do. I am talking about you start your second job at 6PM. I would opt to move out as well if that was me. Being no 3 GDP per capita also does not help people living in NYC forget that their buying power is going down and that the increase of the real value of salaries (buying power) has not manage to keep up with the increase of COL. I Missouri is doing even worse, that does not help NY's.[/u][/u]

You also seem to be confusing being socially conservative with fiscally conservative. They are also different. You can be socially liberal but fiscally conservative. Unfortunately today, the meaning of conservative is being defined by Teabaggers which is actually libertarian. That means little or no government control or oversight and no social programs. As I said it’s very different.

For example Connecticut Republicans are proposing to bond billions in transportation projects but does not fully consider how that debt will be paid. They may be socially conservative but they certainly are not being fiscally conservative in what they propose. Jay

- Again it seems that you did not take time to digest the paragraph you are referring to. Surely I know what socially and fiscally conservative terms refer to, more over if you re-read my paragraph you are barely referring to, you will see that I went to define ontology of the liberalism/conservatism for the purpose of my argument as the conventional understanding of these terms in contemporary discourse is often alienated from the original gist and faint labels as fiscally or socially conservative are only chewed derivatives. Ontology can help one understand in essence what had caused one to exhibit or be perceived as a conservative or liberal in relative terms which relates to the topic we were discussing and the question a participant had raised as: what can local/state governments do facilitate economic health in the area? I pointed out that investing the taxpayers money into supporting inefficient "Non-Government Organizations" (this oxymoron is a red flag in itself) and government programs does raise tax base and does not help. Thus some people prefer a frugal more controllable investment of their tax money. I'll let you re-read my post. If I have not explained something well enough I will find time to.
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Your response is very hard to follow, not only in its structure but also what you are saying. I will say that I did read your post carefully so it’s obvious that what you wrote was not clear. I will say that people from the northeast retiring to less expensive places with warmer weather is not new. It’s been happening for 70 years now and Florida is chock full of retired New Yorkers. I’m not sure why you think it’s any different today than it was 20 years ago.

I also stand by comment on your beliefs being libertarian. Minimal government is the cornerstone of libertarianism no matter how you frame it. Jay

[MikefromCT]

Originally Posted by BobNJ1960

I saw iin Milford Patch today a link to Forbes Dec 2019 state business climate ranking. Connecticut was ranked 43rd.

Is that a step up from where we were previously? This state never seems to rank higher than 40th (not that I'm surprised), but I'd be interested to know how we're trending (even though it's likely less than encouraging).

[CTartist]

I hate to be the bearer of bad new about CT but I want to post the good and the bad to be fair. This was in the CT post this past Sunday.

Connecticut's Lost Decade.


The good new is that we still have very high incomes and it is now a lot cheaper to buy a house....so there's that. Connecticut is now a bargain so let's see what happens. I guess it's all relative and how you look at the glass 1/2 full or 1/2 empty.

So the CT Post house figures bothered me a bit so I looked up home value by states in 2019. Here is what I got.
#4 MA $479,900
#12 CT $327,950 (even this seems to low to me)
https://www.businessinsider.com/cost...connecticut-40

I can't figure out how we can have some of the highest incomes in the country and be #12 for house prices. Perhaps there is another housing bubble brewing in some states?

[New Englander]

Originally Posted by CTartist

I hate to be the bearer of bad new about CT but I want to post the good and the bad to be fair. This was in the CT post this past Sunday.

Connecticut's Lost Decade.
Attachment 217222

The good new is that we still have very high incomes and it is now a lot cheaper to buy a house....so there's that. Connecticut is now a bargain so let's see what happens. I guess it's all relative and how you look at the glass 1/2 full or 1/2 empty.

So the CT Post house figures bothered me a bit so I looked up home value by states in 2019. Here is what I got.
#4 MA $479,900
#12 CT $327,950 (even this seems to low to me)
https://www.businessinsider.com/cost...connecticut-40

I can't figure out how we can have some of the highest incomes in the country and be #12 for house prices. Perhaps there is another housing bubble brewing in some states?

Yes, there is a housing bubble brewing in the greater Boston area. Much of MA's lift in the average home values comes from the Greater Boston area.

CT is an exceptional value in terms of real estate. High income, well educated state between Boston and NYC. As a RE investor, I am continuing to make strong bets on CT real estate. Granted, I am investing in Coastal Fairfield County, however compared to what I am seeing here in MA, I'll keep investing in CT as much as I can..

[BobNJ1960]

Originally Posted by MikefromCT

Is that a step up from where we were previously? This state never seems to rank higher than 40th (not that I'm surprised), but I'd be interested to know how we're trending (even though it's likely less than encouraging).

In the same terrible neighborhood as usual for us.

[MeaningIntheMeanwhile]

Originally Posted by JayCT

Your response is very hard to follow, not only in its structure but also what you are saying. I will say that I did read your post carefully so it’s obvious that what you wrote was not clear. I will say that people from the northeast retiring to less expensive places with warmer weather is not new. It’s been happening for 70 years now and Florida is chock full of retired New Yorkers. I’m not sure why you think it’s any different today than it was 20 years ago.

I also stand by comment on your beliefs being libertarian. Minimal government is the cornerstone of libertarianism no matter how you frame it. Jay

- Again the main reason NYers and Tri state cannot retire in NYC or surround areas is the loss of real value of money/buying power which does not keep up with the increase of COL. As I said, NY's unemployment rate and NY's GDP ranking within the US that you threw in are completely irrelevant when it comes to NYers financial ability to sustain their lifestyle - the fact that GDP is worse in Missouri does not help them, on contrary. That is why there ARE more NYers retiring out of state than ever. NYers can see it, feel it and observe it as an increasing trend while sharing on their retirement plans their their co-workers, friends family and visiting them, not only in FL but TN is becoming more popular as well as NC, SC etc. Your statement that NYers have been retiring to Florida for the past 70 yrs now, does not cover the fact that the slice of NYers unable to retire in their home city is bigger then ever. I see it as the digression from the indisputable facts.
Those out of state who may also get acquainted with his fact through numerous references, if they care enough.

1) https://www.forbes.com/sites/jackkel.../#6dcae89d41ac

2) https://www.democratandchronicle.com...te/3616563002/

But there are many references for those who care. For those who do not why keep listing.

You could say that my views are fairly close to libertarian on some topics, not that my views are important when observing NYers not being to retire in NYC or what is the definition of Liberalism/Conservatives.

As I already said, if there is any segment in my written content that you would like me to explain better or make more accessible to you or any other benevolent participant of this discussion I will find the time to do so.

[Fuele]

Originally Posted by New Englander

Yes, there is a housing bubble brewing in the greater Boston area. Much of MA's lift in the average home values comes from the Greater Boston area.

CT is an exceptional value in terms of real estate. High income, well educated state between Boston and NYC. As a RE investor, I am continuing to make strong bets on CT real estate. Granted, I am investing in Coastal Fairfield County, however compared to what I am seeing here in MA, I'll keep investing in CT as much as I can..

As much as I complain about CT, especially the Dem leadership, the opinion I have is that if one chooses wisely, and is prepared to live within their means , there are many affordable decent places to live in the state.
A state with many high income earners like CT actually can provide more opportunity to make money as a consequence of that fact. Higher income earners have more disposable income. The strategy is to put some of it in your own pocket whenever possible.

[CT_Yank]

Brutal, no matter how you slice it. CT market need to wake up.

https://www.bloomberg.com/news/artic...july-2006-peak

"Connecticut leads all states with a 17% equity decrease since its July 2006 price peak, CoreLogic said in a report released Tuesday. It’s followed by Maryland and Nevada, where home values are both down more than 10% from their 2006 peak levels, the report said.

On a national level, prices increased 3.7% in November from a year earlier and are expected to increase an additional 5.3% over the next year. Connecticut, where home prices fell 0.1% in November, was the only state to post an annual decline"

[MrGompers]

Originally Posted by CT_Yank

Brutal, no matter how you slice it. CT market need to wake up.

https://www.bloomberg.com/news/artic...july-2006-peak

"Connecticut leads all states with a 17% equity decrease since its July 2006 price peak, CoreLogic said in a report released Tuesday. It’s followed by Maryland and Nevada, where home values are both down more than 10% from their 2006 peak levels, the report said.

On a national level, prices increased 3.7% in November from a year earlier and are expected to increase an additional 5.3% over the next year. Connecticut, where home prices fell 0.1% in November, was the only state to post an annual decline"

Sounds like there's a lot of real estate bargains to be had in the state now. We're almost at the point where its not "how much house can I buy"? but "how many houses can I buy"?. Pick up a bargain in Greenwich at 40% off last years value then buy a beach house in Westport.


I knew it was over when Mel Gibson took a bath on the sale of his Greenwich estate.


We should start a separate thread where we can share our real estate purchases/investments as they happen. Perhaps give each other pointers.