Monthly Archives: January 2007

New Jersey New Home Forecast

Posted on January 26, 2007 by grim
Posted in New Development, New Jersey Real Estate | 1 Comment

From the Asbury Park Press: Sharp drop seen in N.J. housing starts Housing starts in New Jersey are forecast to drop nearly 20 percent this year, according to the head of the state home builders association, but the market could … Continue reading →

December Existing Home Sales

Posted on January 25, 2007 by grim
Posted in Economics | 218 Comments

The National Association of Realtors (NAR) December Existing Home Sales (EHS) data is due out at 10:00am EST this morning. The December release can be found here: December Existing Home Sales November EHS came in at a seasonally adjusted annual … Continue reading →

PMI Winter 2007 Risk Index

Posted on January 25, 2007 by grim
Posted in Economics | 3 Comments

From the PMI Group: PMI’s Winter 2007 Risk Index Reflects Slowing Housing Market (PDF) Continued deceleration in home price appreciation and decreased affordability caused the risk of home price declines to rise in cities across the country, PMI Mortgage Insurance … Continue reading →

More dirt on the Dwek debacle

Posted on January 25, 2007 by grim
Posted in Housing Bubble, New Jersey Real Estate | 1 Comment

From the Asbury Park Press: $10M in Dwek loans “suspicious” Almost $10 million in loans involving Solomon Dwek’s collapsed real estate empire have been referred to authorities for possible criminal prosecution, according to the court-appointed manager of Dwek’s holdings. The … Continue reading →

Does dense housing benefit developers only?

Posted on January 25, 2007 by grim
Posted in New Development, New Jersey Real Estate | 1 Comment

(Since I posted Zucker’s article last week, it’s only fair to post the rebuttal) From the Asbury Park Press: Only builder wins with densely developed housing The Jan. 7 commentary “More densely developed housing can address state’s ills” by Ralph … Continue reading →

Bailing out bad loans

Posted on January 24, 2007 by grim
Posted in Housing Bubble, National Real Estate | 177 Comments

From the Wall Street Journal: Banks Move Earlier To Curb Foreclosures As the number of borrowers falling behind on their mortgage payments climbs to the highest level in five years, the mortgage industry is trying new strategies to help bail … Continue reading →

Housing downturn “has quite a while to go”

Posted on January 24, 2007 by grim
Posted in Economics, Housing Bubble | 3 Comments

From the Gloucester County Times: Rutgers study finds flat economy A downturn in housing transactions and volatile gasoline prices should keep the regional economy flat at best through the first half of 2007, a panel suggested Tuesday at a quarterly … Continue reading →

New Jersey voters skeptical

Posted on January 24, 2007 by grim
Posted in Property Taxes | 5 Comments

From the Courier Post Online: Poll: N.J. voters doubt taxes will drop New Jersey voters are skeptical that state lawmakers will deliver on a promise to cut their property taxes this year, while most support capping tax increases even if … Continue reading →

NJT proposes 10% rate hike

Posted on January 24, 2007 by grim
Posted in General | 6 Comments

From the Record: NJ Transit wants fare hike Fares for NJ Transit buses and trains would increase 10 percent this summer under a plan proposed Tuesday by the agency’s staff. The new revenue would close a projected $60 million budget … Continue reading →

Bears overtaking the state

Posted on January 23, 2007 by grim
Posted in Economics | 143 Comments

From the Asbury Park Press: State residents bearish about money, business Half of New Jersey consumers expect their household will do the same or worse financially compared with last year, and state residents are nearly as bearish about business conditions … Continue reading →

A prelude of what’s to come?

Posted on January 23, 2007 by grim
Posted in Housing Bubble, National Real Estate | 8 Comments

From the Boston Herald: Year-long ‘correction’: Home sales worst since ’90s bust New figures show 2006 was the worst year for Massachusetts real estate since the 1990s housing bust. Market tracker The Warren Group yesterday reported that total 2006 sales … Continue reading →

Housing risk just begun?

Posted on January 22, 2007 by grim
Posted in Economics, National Real Estate | 121 Comments

From Inman News: Commentary: ‘Housing risk ain’t over’ Long-term rates are clinging to their highs (6.25 percent for mortgages, 4.77 percent for the 10-year T-note), but the bond market looks lousy, poised for another rise. The straight-line, quarter-percent rise in … Continue reading →

NYC no longer the world financial capital?

Posted on January 22, 2007 by grim
Posted in Economics | 26 Comments

From the AP via Newsday: Report: NYC May Lose Top Financial Spot The city is losing its competitive edge and could give up its place as the financial capital of the world in as little as 10 years, a report … Continue reading →

Protecting our tiny metropolises

Posted on January 22, 2007 by grim
Posted in New Jersey Real Estate, Politics | 18 Comments

From the Philly Inquirer: Tiny N.J. towns are resisting push for them to merge In a state known for its small municipalities, the smallest of the small are two Camden County boroughs that don’t have enough residents between them to … Continue reading →

Cash-out party not over yet

Posted on January 21, 2007 by grim
Posted in Risky Lending | 11 Comments

From MarketWatch: Cashing out People looking to extract equity from their homes have increasingly been turning to cash-out refinancing, industry observers say. A big reason that people are tapping their equity through refinancing comes down to dollars and cents, according … Continue reading →