Josh Mann

This came up recently. People remain stunned that interest groups raise and spend money in furtherance of their interests. We can disagree (I strongly disagree with the trial lawyers) but we need to stop being shocked by this. I’d be shocked if the trial lawyers were NOT lobbying against this.

@ElceeGibbons @JerseyJustice1 You keep using that as your scapegoat. The debt service was run up long before Joe Biden opened the floodgates at the border.

@JerseyJustice1 @jmaxmann Maybe if we stop supporting hundreds of thousand of illegals in this state, along with H1-B visa holders, the citizens who have been here for years won’t have to flee the state because its too expensive to live in it.

Stay NJ is one of the dumbest policies we have going, and I do not understand why so many in the NJ Legislature support subsidizing this. We should eliminate that program and put 100 percent of those dollars towards paying down the State debt that the Baby Boomers have left for future generations to pay.

You think GenX is running things? We’ve had a non boomer governor in New Jersey for about 6 months. We’ve had boomer Presidents since 1992. Congressional leadership still leans mostly Boomer. Your generation spent massively and left the bill for your kids, grandkids and great grandkids to pay.

When I bought my house 35 years ago my property tax was $2700 a year. 35 years ago Boomers were running things and everything was better. Now that your generation is running things, my property taxes are close to $15,000. As usual this generation is selfish and irresponsible and blames everyone else for their mistakes.

@Oldglorycries @grok I would absolutely keep veteran exemptions and like policies. Your point there is salient and appreciated.

@jmaxmann @grok That debt didn't come from Seniors who fought in Korea and Vietnam (against their will) who make 70k per year in pensions. NJ is bleeding out like a gutted fish right now.

Hi @grok do real estate owners and investors have a vested interest in seniors moving from their homes?

I just finished reading this paper and the conclusions should not surprise anyone: 1) Inclusionary Zoning materially reduces the supply of housing, and 2) reduces affordability for market rate housing units. This appears to be a robust empirical analysis based on California’s IZ experience. I am not an expert on California IZ and do not claim to be so I will leave this to the many great folks on here I follow who are experts. As with all IZ discussion, I feel the need to point out (again) that New Jersey is an exception as IZ is directly responsible for about 80-85% of the housing supply we have generated in the last 10-15 years. Without the Fair Housing Act and its predecessors, we would have a housing crisis of epic proportions (we have one now but it would be much, much worse). Further, many of these new housing developments have been done with Payment In Lieu of Taxes (PILOT) agreements that, in effect, subsidize the IZ requirements to make the developments pencil. For those looking for a sort of contrary point— I would direct you to the yeoman’s work being done by @BetterBlocksNJ and @eaconner in Jersey City— where an unfounded 15% IZ tied to zoning variances has produced a whopping ZERO IZ homes. Bottom line: I think the research is pretty much settled at this juncture on IZ, but it is not a one size fits all box. And… we need to increase Section 8 and fund housing authorities to build more social housing.

This is absolutely true.

@NY_LBSS Truth.

@jmaxmann Baby boomers vote.

@dkaroczun You are saying there are no government programs to support your examples? Don’t also acknowledge those are exceptions not the rule?

@jmaxmann Other programs? Like what? Put the kids in an institution and the elderly parents in a home?

@bziggard74 They lowered it to… $250,000… which is still completely insane.

@jmaxmann 500,000 as the cutoff amount is simply insane

@bethanyjbabcock I just sent to one of my leasing brokers. One of these is interested in one of my buildings. Cannot thank you enough for sharing this.

In the last ten years I’ve reviewed the financials for dozens of Autism therapy or adjacent businesses as they have exploded as a category. Many of them (most) are VC capital backed companies with minimal or negative cash flow, just a plan to expand as quickly as possible to take on market share. It feels like they are exploiting the expanded definition of autism for Medicaid (2014) as well as the rules surrounding therapy for those under 21 (2014) Some of these are essentially operating as part time daycares with daily therapy. The services they provide are real, I’m not claiming otherwise but the expansion of the criteria to be covered changed in 2014 to cover almost anything autism adjacent and VC is not missing out. How long will it last? I think not much longer. In reviewing and qualifying these clinics for clients these are the red flags I share with my clients so we can focus on the ones that are seeing patients and prioritizing care: 🚩 the operators are more concerned with financial lease terms like build out than they are with patient focused terms like cotenancy and parking 🚩 financials show a healthy cash balance but negative earnings and lots of debt 🚩internal loans, large lines of credit and creative financial tools not usually used by doctors or therapists 🚩 tours to the property only included real estate and executive team members, never practitioners 🚩High sense of urgency not usually seen in the business to secure a trade area. 🚩 opening a second or third location within a small area extremely fast with no long term supporting revenue. Seems like they just want others out. 🚩no discussion on staffing when every other tenant discusses it regularly. I’ve only once heard an operator ask their team “where will our staff be coming from and where will they park? Where is their break room? Etc” I’ve recommended proceeding with a few recently. They were smaller and provider led and asked all the right questions (essentially the opposite of the above) Am I being too cautious? Perhaps. Time will tell but I think I’m right on this one.

Guys, the tell is he never attacks billionaire Neville Roy Singham, who resides in China in his funding his anti-datacenter push. He's not the high sparrow, he's just another politician. He's even more bought and paid for than the rest of them.

@SukritGanesh Spot on example I agree.

@jmaxmann Yes, what I meant to say is that the very fact that such ideas are even being floated by some is cause for concern. Many billionaires are already leaving/planning to leave and taking their tax dollars with them.

This is 100 percent correct.

@SukritGanesh I’d argue it already is.

@jmaxmann This is exactly how the billionaire tax (bound to fail - it's opposed by virtually every major CA politician and political group) will do major harm to our economy.

@Oldglorycries @grok I don’t have it in for them… I think having the rest of us heavily subsidize them is terrible public policy. We should be using that money to pay down the debt they ran up.

@jmaxmann @grok So why do you have it in for seniors? Didn't your boy Murphy so enough damage to them?

I am a lifelong Democrat. I served on President Clinton’s National Security Council and in the State Department under Madeleine Albright. I am also a lifelong human rights and civil rights advocate. But every Democrat and every American should recognize that the DSA represents a fundamental threat to our party and our country. This is not a story about a few idealists seeking to reduce healthcare costs. It is about a small group of radical extremists pursuing a strategy to take over the Democratic Party and ultimately our country in order to impose an agenda that would devastate our economy and fundamentally dismantle our system of government. Don’t take my word for it. Listen to the full conversation between Fox News’ Martha MacCallum and New York City DSA co-chair Gustavo Gordillo and judge for yourself.

@dkaroczun Those are exceptions and there are other programs to support that.

@jmaxmann Three of my boomer friends would like to downsize but can’t because they have an adult child that cannot live on their own. Two have minor disabilities, one is severely disabled. A fourth boomer friend has an elderly parent that lives with them.

@FrancesJaneB 1. It puts a burden on people without fixed incomes… yet we are subsidizing the wealthiest generation. 2. Which generation ran up the debt?

@jmaxmann Continually increasing property taxes puts a burden on people on a fixed income. State debt wasn’t caused by retirees but Trenton’s fiscal irresponsibility & coddling illegal aliens. Are there any performance metrics on grants to NGO’s?

@Kaelberviridae There are no advocacy groups coming out against StayNJ— but the Governor rightly sought to cut it. The legislative leadership (with help from the GOP) fought to restore it.

@jmaxmann Like most antiproductive government spending: concentrated benefits, diffuse costs. If you are aware of any local group advocating to axe Stay NJ and/or dump Sweeney, I'd love to hear about it!