Monthly Archives: September 2006

Important Notice

Posted on September 26, 2006 by grim

Please note that the comments format has changed. There will no longer be a link to the comments at the bottom of each message. Instead, please use the link located near the top of each post, labeled “[#] Comments”. For … Continue reading →

Posted in General | 44 Comments

A market in transition

Posted on September 26, 2006 by grim

From the New York Times: Buy Low(er) After five years of paltry inventory, rising prices, and bidding wars, the seller’s market has finally started to turn into a buyer’s market—or at least the beginning of one. According to a report … Continue reading →

Posted in National Real Estate | 12 Comments

Chicken (Jobs) or the Egg (Housing)?

Posted on September 26, 2006 by grim

From the L.A. Times Data on Homes Cause Jitters “Things are clearly turning down pretty hard” for residential real estate, said Jan Hatzius, an economist at investment firm Goldman, Sachs & Co. in New York. “You’re going to have some … Continue reading →

Posted in Economics, Housing Bubble, National Real Estate | 20 Comments

Nothing to suggest a return to normal

Posted on September 26, 2006 by grim

From MSN/Forbes How low will real estate go? Get used to it: The seller’s market is closing up shop. The days of fat, fast home value increases are gone. Pack away those flipping fantasies. “The boom is definitely over, there’s … Continue reading →

Posted in Housing Bubble, National Real Estate, New Jersey Real Estate | 23 Comments

‘Pop goes the housing bubble’

Posted on September 26, 2006 by grim

From Newsday: ‘Pop goes the housing bubble’; home prices fall U.S. existing-home prices declined in August for the first time in more than a decade as sales fell for a fifth straight month, the National Association of Realtors said yesterday. … Continue reading →

Posted in Housing Bubble, National Real Estate | 3 Comments

Construction job losses expected

Posted on September 26, 2006 by grim

From the Courier Post Construction job market strong Though new home sales have plummeted 20 percent from a year ago, U.S. construction employment is still up 3 percent. But the solid job news might not last. “The trend has got … Continue reading →

Posted in Economics, New Jersey Real Estate | 16 Comments

Dela.. Where?

Posted on September 26, 2006 by grim

From the Delaware News Journal Delaware: the relocation state If you’ve noticed more people moving into your neighborhood than moving out, you’re not alone. With an influx of retirees, people moving for jobs and those seeking a lower cost of … Continue reading →

Posted in National Real Estate, New Jersey Real Estate | 13 Comments

“Dude, you’re going to jail”

Posted on September 25, 2006 by grim

From Motley Fool 24 Years Old, $2 Million in the Hole So, have you heard the one about the 24-year-old “real estate investor” who’s $2 million in debt and still hasn’t gone back to his day job? No? Alas, you … Continue reading →

Posted in Housing Bubble, Risky Lending | 18 Comments

So just how long will the slump last?

Posted on September 25, 2006 by grim

From the Christian Science Monitor How long will the housing slump last? First came a slowdown in the volume of home sales. Now prices are falling, and the question for anyone selling, buying, or even just hanging onto a home … Continue reading →

Posted in Housing Bubble, National Real Estate | 5 Comments

What happened to the comments?

Posted on September 25, 2006 by grim

I’ve received quite a bit of “hate mail” over the past week because of the new format.  It seems that the majority of readers (not commenters) prefer the old-style of commenting.  The two most common complaints received were: the forum format … Continue reading →

Posted in General | 86 Comments

NAR forecast “way too optimistic”

Posted on September 25, 2006 by grim

From Globe and Mail: U.S. house prices could drop another 10% The U.S. housing slowdown is more severe than is being suggested and prices could fall another 10 per cent from current levels, according to National Bank Financial. … Stéfane … Continue reading →

Posted in Housing Bubble, National Real Estate | 33 Comments

Prices will continue to fall

Posted on September 25, 2006 by grim

From Bankrate: Home prices fall and will keep falling Just to hammer the point home past your boredom threshold: Lereah says, “we do expect an adjustment in home prices to last several months as we work through a buildup in … Continue reading →

Posted in Housing Bubble, National Real Estate | Comments Off on Prices will continue to fall

Median home price falls 1.7%, 1st drop in 11 years

Posted on September 25, 2006 by grim

From the National Association of Realtors Existing-Home Sales Holding At A Sustainable Pace Existing-home sales stabilized at a sustainable pace in August, while home prices showed an anticipated decline, according to the National Association of Realtors®. Total existing-home sales – … Continue reading →

Posted in Economics, Housing Bubble, National Real Estate | Comments Off on Median home price falls 1.7%, 1st drop in 11 years

Fisher: Inflation a bigger risk than slowdown

Posted on September 25, 2006 by grim

From Marketwatch: Fed’s Fisher says inflation still bigger worry than slowdown Higher inflation remains a bigger risk for the economy than a sharp slowdown of growth, said Richard Fisher, the president of the Dallas Fed bank on Monday. “I continue … Continue reading →

Posted in Economics, Housing Bubble, National Real Estate | 5 Comments

Roubini on Housing

Posted on September 25, 2006 by grim

From the New York Times: The Descent Nouriel Roubini is a professor of economics at the Stern School of Business at NYU and chairman of Roubini Global Economics, an economic consultant group. You follow housing markets nationwide. What do you … Continue reading →

Posted in Economics, Housing Bubble, New Jersey Real Estate | 1 Comment