interestrateripoff Posted November 10, 2014 Share Posted November 10, 2014 http://www.bloomberg.com/news/2014-11-10/springsteen-girls-priced-out-as-rich-buy-n-j-shore-homes.html When Hurricane Sandy roared through New Jersey two years ago, it not only tore up the shoreline. It also pushed out much of the middle class. From Ocean City to Toms River, one-story cottages and bungalows damaged by the worst Atlantic storm on record are being replaced by multi-story homes that go for twice as much. Sales of million-dollar homes on the Jersey Shore surged to a seven-year high in the third quarter. Sandy accelerated the turnover of existing homes to higher-priced ones, said Kevin Gillen, an economist at University of Pennsylvania’s Fels Institute of Government. Meanwhile, those relying on insurance claims and government grants are sometimes unable to rebuild as quickly as their wealthier neighbors. “What we see right now along the water is that the people with resources, people who have a lot of money, right off the bat, they’re back in their houses enjoying it versus a lot of other people who are still struggling,” said Doug Quinn, who remains displaced from his Sandy-flooded home in Toms River, about 70 miles (113 kilometers) south of New York City. .. “This overall economic recovery has been skewed to the upper half of the population,” Gillen said. “The more educated you are, the more accomplishments you have on your resume, the chances are you are better off today than you were a couple years ago in the depths of the recession.” The economic recovery has achieved it's aims and increased the wealth of the rich. Quote Link to comment Share on other sites More sharing options...
Lifes a game Posted November 10, 2014 Share Posted November 10, 2014 I wonder how much their building insurance will be... Quote Link to comment Share on other sites More sharing options...
Fully Detached Posted November 10, 2014 Share Posted November 10, 2014 Being born in the USA doesn't have the same advantages that it used to. The glory days are over. The only hope really is that santa claus is coming to town. Quote Link to comment Share on other sites More sharing options...
Lord D'arcy Pew Posted November 10, 2014 Share Posted November 10, 2014 Downeaster Alexa. http://www.youtube.com/watch?v=WtJxagoLcy0 Quote Link to comment Share on other sites More sharing options...
Timak Posted November 10, 2014 Share Posted November 10, 2014 Read the "Shock Doctrine" by Naomi Klein. Spells it all out. Quote Link to comment Share on other sites More sharing options...
Saving For a Space Ship Posted November 10, 2014 Share Posted November 10, 2014 (edited) Time to build a storm surviving dome ? http://www.monolithic.org/testimonials/domers-respond-to-moore-oklahoma shake-table-test-shows-the-dome-shape-is-virtually-earthquake-proof Edited November 10, 2014 by Saving For a Space Ship Quote Link to comment Share on other sites More sharing options...
Sandwiches33 Posted November 10, 2014 Share Posted November 10, 2014 didn't someone post on here recently the current us average wage is $28k? who si buying these at double? wtf is going on. Quote Link to comment Share on other sites More sharing options...
dances with sheeple Posted November 10, 2014 Share Posted November 10, 2014 Read the "Shock Doctrine" by Naomi Klein. Spells it all out. Looks interesting. Hope she doesn`t do too much wilderness hiking or mountain climbing though. Quote Link to comment Share on other sites More sharing options...
Wurzel Of Highbridge Posted November 10, 2014 Share Posted November 10, 2014 didn't someone post on here recently the current us average wage is $28k? who si buying these at double? wtf is going on. These aren't average home though are they? Average home would be much lower priced. Looking around online US homes seem quite good value compared to the UK. Quote Link to comment Share on other sites More sharing options...
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