Leonia hopes new signal pattern makes less dangerous street
- Intersection of broad Ave and Fort Lee Rd (7 pedestrian accidents in 2.5 years)
- New signal pattern -> Red light freezes all lights for 26 sections.
- Also City implemented “No right turn on red” since June 24. -> positive feedback.
- Aug, 2014, a women has been dragged 71 feet along the street by school minibus and killed.
- Another place using same pattern: Washington Ave and Main St in Bergenfield
World Trade Center shopping mall by Westfield opens
- 365,000 sf shopping center ( Apple, Forever 21, H&M, John Varvatos etc.)
- Westfield expected $1B sales annually.
- More than 60,000 residence live within blocks of WTC ( 3 times than before 9/11)
- Underneath, Transportation hub -> 13 subway trains, river ferries -> 300,000 commuters daily.
PA Bus Terminal war between 2 states: NY and NJ
- NJ wants to PA to keep the promise to build new bigger terminal at West Side of the Manhattan.
- Many leaders on the east side River wants to have smaller terminal farther form Midtown. -> Force More NJ commuters to use train and cars.
- Current terminal opened in 1950 -> Need to have new terminal /Residents opposes for eminent domain, environmental and historic preservation laws, etc.
NJ has 9th highest student loan debt in nation
- debt per borrower is $30,536.( 64% is for college loan) (Acc. Lend EDU)
- 6 out of 10 student use debt to finance college / about 90% of loan from government.
- Most student finished in 6 years ->The sooner graduate, the less debt.
US, new Construction is highest for last 5 months
- In July, 1.21M(Annual rate)new construction began -> 1% Up CMT last month
- 3 Qt residential supply is expected to increase.
- New construction sales is highest since 2008
- Existing house sales is highest since 2007
Underwater houses ->670,000 in US
- Still 11.9% (Mortgage balance is 25% higher than current market price)
- 1% Down CMT 1Qt / 1.4% Down CMT 3Qt 2015
- Lower 33% of house piece -> 25% underwater
- Higher 33% of house price -> 8% underwater
House price goes down?? –> Major reason : School system
- NAR, Area with class size is over 40, lower graduation rate -> 22.5% down
- Negative effects: Strip club, homeless shelter, renter concentration, cemetery, Power station, Funeral house, shooting range, hospital, etc.
- NIMBY effect ( “Not In My Back Yard”)
Macy’s will close 100 off line stores ->More on-line biz
- Currently 727 off line stores (about 15% stores close down)
- Sales will be reduced by $1B.
- Walmart purchased Jet.com
- Verizon purchased Yahoo.com
- GM heavily invested to Lift(Car dispatch system Co.)