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Rutgers funding in jeopardy because of mass migration out of NJ!

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On that ballot 2 years ago in Ca. was more investment in education to allegedly fund more teachers for smaller class sizes. Upon further inspection, 97 cents out of every dollar was going directly to the existing teachers and the infrastructure that supports them- the union.

Thankfully and amazingly, it failed. Though that didn't usually doesn't stop the legislature here from passing things anyway, like gay marriage which failed 3 x.

Check out the sexual predator bill they just quietly passed. If you are a pedo not more than 10 years older, you don't have to be listed as on public watch lists. Evil stuff going on out here.
Never underestimate the democrats ability to FTU! The Republicans are bad, but the Democrats are 100x worse and have an evilness behind everything they do.
 
When people move out, other people move up, especially when interest rates are so low.

The difference is the competitiveness and the rapid rise in prices. There are highly motivated buyers coming to NJ from NYC looking to use their money to improve their living environment during the pandemic - homes that they can stay in for long periods without needing to go out onto crowded streets. My friend's real estate agent told him it's been a feeding frenzy out here, and it's been triggering additional sales from people who are looking to capitalize on the high sale prices. Great opportunity to downsize to a different state - getting a great return on their current high-upkeep empty nests, and have low interest rates wherever they're looking to buy.

Honestly, moving out fixed income retirees for higher-salary families is a trade off I'm happy to make. The newcomers will be more likely to vote for school improvements instead of against them and will have more purchasing power to spend on local businesses. There will also likely be more push for improved mass transit infrastructure into the city, too, which has been slow in coming.
 
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The difference is the competitiveness and the rapid rise in prices. There are highly motivated buyers coming to NJ from NYC looking to use their money to improve their living environment during the pandemic - homes that they can stay in for long periods without needing to go out onto crowded streets. My friend's real estate agent told him it's been a feeding frenzy out here, and it's been triggering additional sales from people who are looking to capitalize on the high sale prices. Great opportunity to downsize to a different state - getting a great return on their current high-upkeep empty nests, and have low interest rates wherever they're looking to buy.

Honestly, moving out fixed income retirees for higher-salary families is a trade off I'm happy to make. The newcomers will be more likely to vote for school improvements instead of against them and will have more purchasing power to spend on local businesses. There will also likely be more push for improved mass transit infrastructure into the city, too, which has been slow in coming.
Prices go up as interest rates go down. The outflow is higher than the inflow, but you are definitely correct about NYC residents coming to NJ. Gotta get out of NYC at all cost.
 
The answer is to get rid of all the redundant towns. I grew up on Ocean Monmouth county. My High school absorbed kids from loch arbor, allenhurst. But those towns have their own police, etc. There is no need for all these little towns in the state to have their own police, fire, school board etc. They need to be combined and streamlined.

It's cool though, when all these people retire they are just going to get short changed their "promised" pensions.
More towns would be amicable to shared services if the could renegotiate the funding mechanism. Asking smaller towns to give up their vote to larger towns, while having their entire ratable base at the mercy of the larger district is the sticking point. Sweeny paid lip service to it, but then reassured all the Unions that headcounts would remain the same. His approach makes no sense. IMO
 
NJ is one of the worst states for retirees. Normal property taxes alone bankrupt many seniors.

Ca. is trying to pass a bill this next election that commercial real estate gets assessed and property taxes get paid off of that value every 3 years. That will most assuredly get passed down to home owners in short order.

Democrats have gone from everyone must own a home to no one should own property in less than a decade.
 
Just to bring this back on point. Rutgers being a state school with really no endowment of size as compared to many other state schools, is in fiscal trouble. For all his ham handedness handling Rutgers Athletic Dept. Dr. Barchi was a terrific leader and manager of the University. His integration of UMDNJ into Rutgers was nothing short of a miracle. Barchi's Fiscal management was nothing short of being an alchemist. His albatross was the handling of the athletic dept. Jonathan Holloway is unproven but I remain optimistic that he will be an effective leader. His Albatross, is going to be the endowment and greatly increasing it. The endowment is what gives many schools a competitive advantage to fund research and provide a well rounded college experience. The State of NJ is going to have to keep lowering its contributions to Rutgers, so Holloways overriding task is to "court" big donors to increase the endowment and then invest those funds aggressively.
https://thebestschools.org/features/richest-universities-endowments-generosity-research/

BTW Rutgers comes in at #82 for the size of it's endowment at $1.3 Billion. Princeton is #5 at $ 25 billion
 
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That still doesn’t explain why the pension should be paid on the highest base salaries instead of an average of the base salaries from the person’s working career (because that is how their contributions came in).

Krup, that's because if you started work in, say, 1980 and were now retiring, the dollar you made in 1980 would be worth maybe 8 or 10 dollars today. If you want to figure a pension based on a person's whole working life, you would have to use constant dollars, and convert that to today's dollars in deciding that person's pension. The end salary that person made may seem impressive compared to what they made at the start, but when you convert the starting salary to today's dollars, the increase in pay over the years is more modest. Paying retired workers adds mightily to the cost of government at all levels, but it is a key factor in attracting new people. The private sector can be more problematic; many private pension plans are bait and switch, subject to revision.
 
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And so it begins ...Toms River laying off 240 employees consisting of bus drivers, bus matrons , cafeteria , maintenance as of Nov. 2 , 2020 and of course the inadequate state funding has been the cause .
 
From CA, makes sense.

A shame that the pacific Northwest, such an awesome area for nature is being ruined by a demonic infiltration

Lol. There's a lot to the PNW besides Seattle and Portland. Haven't heard of much rioting in those awesome nature areas.
 
Sadly Californians are escaping here to Texas...and try and bring their californianess here...them or Floridians...are the least liked bunch
Well West Point Knight I can see how Texans will certainly appreciate the knowledge Californians will bring to the state. That and their progressive nonsensical philosophies on all things political . Can’t wait until they push the agenda for wind power vs. oil in Texas that should be fun going forward.
 
Buckingham? Is that by Peddlers Village and Giggleberry? How is that place to live? We go there quite often (pre-corona) for shopping and stuff for our little one.

That's pretty much right where New Hope turns into Lahaska/Buckingham. Kind of surprised PV is listed as a New Hope address when I pulled it up a minute ago.
 
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And the winner is.. Illinois
Our property taxes are as bad as NJ's. it's good stuff. We have been crushing owners in Chicago with raises to property taxes and water bills lately. But for investors from Cali/ Colorado still way better cap rates so money is flowing in still.
 
Prices go up as interest rates go down. The outflow is higher than the inflow, but you are definitely correct about NYC residents coming to NJ. Gotta get out of NYC at all cost.

Interest rates have been low for a while (Under 3.8 for over a year), but the sudden upswing in prices began when NYC started getting hit hard by covid in March. Anecdotally, the new families that moved into our neighborhood this summer have also told us that was their driving factor - much easier to socially distance in the suburbs than the city.

There's definitely a certain segment of the population that is looking to get out of state, sure, but it's mostly baby boomer empty nesters and retirees (2/3 of outbound moves are over the age of 55 in the 2019 National Movers Study) - and I'd rather see those houses go to younger families looking to escape covid than older couples looking to escape taxes. Will be interesting to see what the shift is in the 2020 Study re: primary move reason.... 2019 showed only 13% of inbound moves were due to health or lifestyle as a primary reason, and I'd imagine that will go up for this year.
 
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I know an engineer in the Transit Authority. There is an unwritten rule that whenever someone in their department would be close to retirement, they would punch that person in and out so that the hours that person worked would be artificially inflated. Retirement pension is calculated off the last three years of salary. So it is not unusual for people making 70k to end up with 120k as their retirement money. The way they justify it is that they were underpaid compared to corporate, so it's sorta like payback time, so to speak. From what I understand this is common practice in many branches of the NJ Govt. Of course wherever they can get away with it.
That is called stealing! Whether it is from a store or the taxpayers it is stealing and why we should cut the size of NJ's government by 2/3rds.
 
Depends on where in Texas, I'd go far away from Austin, Dallas, Houston.

I lived in Mississippi for a little while, loved the South

I would consider rural areas of Alabama , Arkansas, Tennessee, WV, even Mississippi again but that didn't end well
I guess you really don’t want to work because most of the jobs are in the big cities or Democrats cities.
 
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Since the pensions are one of the biggest financial issues, there is one easy reform that would save a lot of money.

The workers like to fight every attempt at pension reform with the argument that they have paid "their fair share" into their pension (which is debatable). Well, the one thing that isn't debatable is that the workers have made their contributions as a % of whatever salary they were making at the time while currently their pension payout is paid based on their highest salaries.

If a teacher gets hired at 40,000 and retires at 90,000, and was paid an average salary of 70,000 during their working career, their pension should be based on 70,000, not 90,000. That is how their contributions came into the fund and that is what would be fair to them and the taxpayers.
One fault with this - using me as an example - when I stated at RU I made about $7,500 per year. When I retired I was at about $100,000. However, in current dollars that $7,500 would be worth a lot more. (I believe someone starting at my original job would be making about $40,000. Averaging nominal dollars versus real dollars would be unfair also.
And the cause of the problem initially was that starting with CTW the state stopped contributing the matching funds they were supposed to put in.
 
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New Jersey Is Becoming The Most Hated State As Households Flee In Record Numbers
A new tax on millionaires, a 22.5% gas tax hike (bringing the total increase to 250% in 4 years), and now a tax on high frequency trades: it is becoming obvious to most - except perhaps the state's democratic leadership - that New Jersey is now actively trying to drive out its tax-paying population and top businesses with a series of draconian measures to balance its deeply underwater budget, instead of slashing spending. The state-imposed limitations on commerce, mobility and socialization due to the covid pandemic have also not helped. And in case it is still unclear, the trend of New Jersey's ultra wealthy residents fleeing for more hospitable tax domiciles which started with David Tepper years ago, is now spreading to members of the middle class.

According to the latest data from United Van Lines and compiled by Bloomberg, people have been flooding into Vermont, Idaho, Oregon and South Carolina, eager to flee such financially-challenged, high-tax, protest-swept, Democrat-controlled states as Connecticut, Illinois and New York. But no other state has seen a greater exodus than New Jersey, where out of every 10 moves, 7 have been households leaving the state, or nearly three times as many moved out than moved in.


If Democratic states are so poorly run why do the republican run states take far more federal funding then they pay in? The poorly run democratic states are financing the republican states.
 
Well West Point Knight I can see how Texans will certainly appreciate the knowledge Californians will bring to the state. That and their progressive nonsensical philosophies on all things political . Can’t wait until they push the agenda for wind power vs. oil in Texas that should be fun going forward.

Texas has a massive amount of wind power in the western side of the state. But, unlike CA, they were smart enough to realize that the wind doesn't always blow, especially during the dog days of summer. So, while some coal and older/inefficient gas-fired power plants shut for economic reasons, they have sufficient reserves to avoid blackouts. Most of the state is a power island with limited ability to import electricity from neighboring states. Consumers pay considerably less than those in CA.
 
That's pretty much right where New Hope turns into Lahaska/Buckingham. Kind of surprised PV is listed as a New Hope address when I pulled it up a minute ago.
Yeah, you are right, New Hope address. Perhaps this is like a NJ thing with mailing addresses? The large majority of people with a Flemington or Princeton address actually don't live in those towns!
 
Anecdotally, the new families that moved into our neighborhood this summer have also told us that was their driving factor - much easier to socially distance in the suburbs than the city.
+1
Cities will be hurting for a while.
 
And so it begins ...Toms River laying off 240 employees consisting of bus drivers, bus matrons , cafeteria , maintenance as of Nov. 2 , 2020 and of course the inadequate state funding has been the cause .
The state funding was changed this year by Murphy and all the shore towns and cities South of NB were cut funding and funding added to the Northern NJ cities and towns. All the shore towns were feeding off of North NJ. Thank you Murphy.
 
Texas has a massive amount of wind power in the western side of the state. But, unlike CA, they were smart enough to realize that the wind doesn't always blow, especially during the dog days of summer. So, while some coal and older/inefficient gas-fired power plants shut for economic reasons, they have sufficient reserves to avoid blackouts. Most of the state is a power island with limited ability to import electricity from neighboring states. Consumers pay considerably less than those in CA.
Wind power is fine when it is combined with another source of backup. California always a guiding light .
 
I almost bought out there but my wife felt it was too far. I actually wanted to bid on a home in Buckingham
We are loving it. After meeting at RU and living in Central NJ for a few years we have lived away for 36 years until we downshifted and moved to PA a year ago.

Now all four adult kids and grandkids are within 25 minutes of us.
 
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Buckingham? Is that by Peddlers Village and Giggleberry? How is that place to live? We go there quite often (pre-corona) for shopping and stuff for our little one.
It’s great. Great schools and people without an edge. Very friendly to us. Doylestown was named one of the top 10 towns under 10k in population in the USA. They’re positioning themselves well with 40 or so restaurants, good hospital, county seat, DelVal U and a big infusion of arts.

I like that Bucks Central is three school districts in one. East, North and West all with one Central Admin. NJ could use that in spades.

I’m loving the zippo income taxes on my retirement funds. In effect, pays my RE taxes...very welcome relief from Massachusetts.
 
We are loving it. After meeting at RU and living in Central NJ for a few years we have lived away for 36 years until we downshifted and moved to PA a year ago.

Now all four adult kids and grandkids are within 25 minutes of us.


Enjoy it

My wife's parents were in Monmouth County so she did not want to go that far.

It all worked out
 
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