Monthly Archives: November 2005

It’s time for yet another episode of Price Reduced! For all the newcomers to this blog, Price Reduced! takes a good look at a handful of significant price reductions across Northern NJ. The purpose of this exercise is to serve … Continue reading →

The NAR Released the Q3 Existing Home Sales data today, that data includes both the Median Sales Price and Total Sales for the quarter. Median Sales Price Q3 Data was as expected, and realize that Q3 data is a lagging … Continue reading →

The PPI ratcheted up 0.7% this month, for reference, it jumped 1.9% last month. There is significant inflation pressures on the producer side. The consensus estimate for the PPI was 0% this month. Core PPI was down a bit at-0.3%, … Continue reading →

In an interview with CBS 60 minutes yesterday (Mad Money Man Jim Cramer), flip flop man Jim Cramer reneged his love for the real estate bubble. Always an optimist, he nevertheless believes that the real estate bubble is about to … Continue reading →

Quite a bit of important economic data is scheduled to be released over the next few days. While most people don’t care to know or understand this data, we aren’t most people. This data is central to how the Federal … Continue reading →

Welcome to another edition of Lowball! Lowball! takes a look at home sales over the past week from a very different perspective. For those new to Lowball!, a lowball offer is when a buyer offers a significantly lower bid than … Continue reading →

It seems the media is getting more and more negative. They are starting to sound like a bunch of pessimistic bubble bloggers, or maybe they just opened their eyes. Burst bubble looks inevitable Much of the nation has had a … Continue reading →

Sunday’s Star Ledger contains a special section on the real estate market.. Housing boom’s final hurrah? The statewide average sale price of $352,420 for the first six months of 2005 was more than 13 percent higher than the same period … Continue reading →

How many readers have ridden Freefall at Great Adventure? You know the part when you hit the top of the structure, pause, and then hear the signal? That’s exactly where the North Jersey market is right now… It would seem … Continue reading →

Kevin Lansing, and the San Fran Fed, have some very important words for aging workers approaching retirement.. FRBSF Economic Letter – Spendthrift Nation In September 2005, the personal saving rate out of disposable income was negative for the fourth consecutive … Continue reading →

Dean Baker and David Rosnick from The Center for Economic and Policy Research (CEPR) have released one of the most compelling papers on the housing bubble yet. I won’t paraphrase or summarize the paper, this is a *must read*. Will … Continue reading →

Mortgage rates ratchet up yet again, this week the 30 year moves to a national average of 6.42. The 10Y bond fell today after a rally this week, sending yields back to the 4.6 range. There is plenty of pressure … Continue reading →

The first chart is from the Center for Economic and Policy Research (CEPR). Is There a Housing Bubble? The rental index is the Bureau of Labor Statistics (BLS) rent index from 1953 to 1982 and its owners equivalent rent (OER) … Continue reading →

Weekly Active Inventory Update for 11/2 – 11/9 GSMLS (Bergen, Essex, Hudson, Morris, Passaic, Somerset, Sussex, Union, Warren) 11/2 – 12821 11/9 – 12831 (Flat) NJMLS (Bergen, Essex, Hudson, Passaic) 11/2 – 5760 11/9 – 5796 (0.6% Increase) Hudson MLS … Continue reading →

Pimco released their fourth quarter 2005 Market Outlook: Slower Growth With Inflation Pressure, But High Uncertainty Pimco, taking a bearish position of real estate, is forecasting a slowdown, however, they stop short of forecasting a full-blown crash, but instead take … Continue reading →