Hobokenpix: Sign o’ the times

3/18/2009:

[Continuing the ORIGINAL Hoboken411 “Photo of the Day” series…]

Hoboken Photo of the Day – 3/18/2009

The simple photo taken on 16th and Grand Streets sums up how the real estate market has been lately, such as buildings converting from condos to rentals, etc.

When will the market recover? This year? 2010? 2011? Beyond?

hoboken-real-estate-sign-of-the-times-grand-street.jpg

PS – if you have images collecting dust on your camera or hard drive – send them in for eventual inclusion on Hoboken411! Please state how you’d like to be credited in your email, and a description – if desired!!

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29 Comments on "Hobokenpix: Sign o’ the times"

MidnightRacer
Member

Thanks – appreciate it

MidnightRacer
Member

YipYap, do you recall the case in which you cite?

Would like to read how they argue legislating retroactive taxation ex post facto is not ex post facto.

I no longer trust SCOTUS when they’ve also argued that the wording in Eminent Domain could be changed from “public use” to “public purpose” (specific to broad) in order to provide a loop hole in Takings actions against the private ownership society so protected by the Constitution. Not getting into this, just saying. If you can recall the case, let me know… thanks

YipYap
Member

MidnightRacer – the U.S. Supreme Court unanimously held that retroactive tax laws did not violate the constitutional prohibition on ex post facto legislation.

Also bill of attainder does not seem to apply to tax law changes either. Don’t expect this to go to the Supreme Court. What should happen is the Senate will modify this and in committee they will come up with a resolution that is less draconian.

The bonus that everyone is familiar with was created when most Wall St firms were partnerships, not public companies. Times have changed and the dozen or so firms including GM that received more than 5 billion in TARP will just have to pay the TARP money back first if they want to continue to use cash bonuses as a form of compensation.

Congress is right here, they need to make an example since it seems both Merrill and AIG abused the public largess.

matt_72
Member
[quote comment=”144151″]Congress’ 90% tax doesn’t go far enough. Wall street firms for decades have essentially bought & sold our government. The republican controlled congress, with the complicity of wall street insiders like R. Rubin, enacted the laws that enabled the greed to run rampant. They neglected their oversight responsibilities and stood by why the regulatory agencies were gutted. The result: $600 trillion in flakey derivatives. Wall street’s greed has now brought down the world economy. While IT workers & others might not have had a direct hand in it – they benefited big time. The party’s now over. It’s sick that anyone is complaining about being limited to a $250k income – 2-3x more than people who do actual work and contribute to the economy instead of gambling with other people’s money. I’m for a retroactive windfall profits tax on everyone who worked in finance, insurance and real estate over the last 10-years and made over 250K. Directly or indirectly they stole our nation’s future.[/quote] Are you also for retroactive taxes on people who were similarly overcompensated in other fields? Because there are few hundred city employees in Hoboken alone who never should have been on the payroll or promoted into their current positions who fall into that category. In fact, if you look at how overpaid and overstaffed the government is at all across the nation, the total cost of these excess workers (all in – salaries over their career & pensions), I bet is in the hundreds of… Read more »
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