Monthly Archives: January 2009

NY metro area won’t be spared job cuts

Posted on January 20, 2009 by grim
Posted in Economics, Housing Bubble, New Jersey Real Estate | 412 Comments

From the Daily News: New York to lead U.S. in job losses New York is No. 1 again – this time, unfortunately, in job losses. The city is projected to shed more jobs than any other metro area in the … Continue reading →

Homeownership Equality

Posted on January 19, 2009 by grim
Posted in Foreclosures, Housing Bubble, National Real Estate | 267 Comments

From the AP: Financial burden of homeownership spread unequally When it comes to homeownership, Hispanics in New Jersey, single parents in California and senior citizens in Rhode Island all have something in common: More than a third have an unaffordable … Continue reading →

Weekend Open Discussion Part Two!

Posted on January 17, 2009 by grim
Posted in General | 288 Comments

Looking for some suggestions about what you would like to see more of in the new year. What content do you like? What do you dislike? What do you want to see more of? Also, we’re running an experiment this … Continue reading →

Weekend Open Discussion

Posted on January 16, 2009 by grim
Posted in General | 403 Comments

This is the time and place to post observations about your local areas, comments on news stories or the New Jersey housing market, open house reports, etc. If you have any questions you wanted to ask earlier in the week … Continue reading →

NJ Foreclosures Double in 2008

Posted on January 15, 2009 by grim
Posted in Foreclosures, Housing Bubble, New Jersey Real Estate | 405 Comments

From the Record: Housing defaults doubled in N.J. About 62,500 properties in New Jersey faced foreclosure filings in 2008 — twice the number in 2007, RealtyTrac reported Wednesday. Foreclosures rose about 180 percent in Bergen and Passaic counties. … At … Continue reading →

January Beige Book

Posted on January 14, 2009 by grim
Posted in Economics, New Development, New Jersey Real Estate | 158 Comments

From the Federal Reserve: January Beige Book – Second District–New York Construction and Real Estate Housing markets in the District have been mixed but generally weak since the last report. A New Jersey industry contact reports that the market for … Continue reading →

PMI: Home prices to fall through 2009

Posted on January 14, 2009 by grim
Posted in Economics, Housing Bubble, National Real Estate | 133 Comments

From Bloomberg: U.S. Home Prices Will Continue to Tumble Until 2010, PMI Says U.S. home prices, already down 23 percent from their July 2006 peak, will continue to fall until the third quarter of next year, PMI Mortgage Insurance Co. … Continue reading →

Sugar-coated State

Posted on January 14, 2009 by grim
Posted in New Jersey Real Estate, Politics, Property Taxes | 123 Comments

From the Philly Inquirer: Editorial: N.J. Budget – ‘Ugly choices’ Gov. Corzine, who is running for reelection this year, tried to season his “state of the state” address with optimism yesterday. But voters dealing with their own financial problems don’t … Continue reading →

NJ Commercial RE Not Spared

Posted on January 13, 2009 by grim
Posted in Economics, Foreclosures, New Jersey Real Estate | 200 Comments

From NorthJersey.com: Commercial property foreclosures more than doubled in 2008 Foreclosures on commercial properties in New Jersey more than doubled in 2008 from the previous year, a further sign of the recession’s drag on the real estate, according to state … Continue reading →

Where are home prices going in NJ?

Posted on January 11, 2009 by grim
Posted in Economics, Housing Bubble, New Jersey Real Estate | 254 Comments

From the Record: Home buyers will have the upper hand Good news for buyers, bad news for sellers: Home prices in North Jersey and nationwide are likely to continue to fall in the first half of 2009, and stay flat … Continue reading →

Weekend Open Discussion

Posted on January 9, 2009 by grim
Posted in General | 485 Comments

This is the time and place to post observations about your local areas, comments on news stories or the New Jersey housing market, open house reports, etc. If you have any questions you wanted to ask earlier in the week … Continue reading →

North Jersey December Residential Sales

Posted on January 8, 2009 by grim
Posted in General | 375 Comments

Preliminary December sales and inventory data for Northern New Jersey (GSMLS) is in. Please note that this data is subject to revision. The first graph plots the unadjusted sales data (closed sales) for the counties listed. Please note the lower … Continue reading →

Rents fall across the country

Posted on January 8, 2009 by grim
Posted in Economics, Housing Bubble, National Real Estate, New Jersey Real Estate | 149 Comments

From the Wall Street Journal: Rents Fall Across U.S., Biggest Drops in New York City, Miami Job losses took a heavy toll on the nation’s landlords last quarter, as rents fell across the country and vacancies jumped higher. New York … Continue reading →

New Jersey among the weakest housing markets

Posted on January 7, 2009 by grim
Posted in Economics, Housing Bubble, New Jersey Real Estate | 287 Comments

From Forbes: America’s 25 Weakest Housing Markets There is another region where the worst may be to come: New York City-area metros. Housing values in Newark, N.J., could fall 26%. Likewise, Edison, N.J., is also among the mid-sized metro areas … Continue reading →

Why would anyone buy a home today?

Posted on January 7, 2009 by grim
Posted in Economics, Housing Bubble, National Real Estate | 137 Comments

From MarketWatch: Home buyers advised to look before they leap Fox-Pitt Kelton home-builder analyst Robert Stevenson said Wednesday he thinks this year will turn out to be “a bad time to buy a home” as the U.S. economy loses more … Continue reading →