Monthly Archives: March 2010

NJ foreclosures slow, but still hit a painful 14% YOY increase

From the Star Ledger: N.J. foreclosure rate drops for second month in a row The number of New Jersey homeowners in various stages of the foreclosure process dropped for the second consecutive month in February, displaying a housing picture that … Continue reading

Posted in Foreclosures, New Jersey Real Estate | 522 Comments

“As bad as (we thought) the recession was, the final numbers indicate that it was worse”

From the APP: N.J. job losses hit 228,300; worst since ’90s New Jersey’s economy lost 114,100 jobs in 2009 and another 9,100 jobs in January 2010, the state reported Wednesday, offering evidence that the recession has been the most severe … Continue reading

Posted in Economics, New Jersey Real Estate | 380 Comments

Exquisite Handcuffs

From Bloomberg: N.J.’s Christie Says Layoffs Out for Cutting Budget New Jersey Governor Chris Christie said he’s unable to lay off or furlough unionized state workers to help close an $11 billion budget gap. Christie, speaking at a town hall … Continue reading

Posted in Economics, New Jersey Real Estate, Property Taxes | 515 Comments

State Tax Caps Not Effective

From the Star Ledger: N.J. municipalities raise taxes despite state cap When New Jersey announced that property taxes went up by an average of 3.3. percent last year — the smallest increase in a decade of rapid growth — some … Continue reading

Posted in New Jersey Real Estate, Property Taxes | 485 Comments

More on the (still misguided, and even less affordable) NJ Homebuyer Credit

From the Record: Bill would create N.J. homebuyer tax credit In an effort to boost the state’s housing market, New Jersey legislators have introduced a bill that would give home buyers an income tax credit of up to $15,000, spread … Continue reading

Posted in Economics, New Jersey Real Estate | 477 Comments

NJ Home Buyer Credit? Misguided legislation we just can’t afford.

From the Star Ledger: N.J. legislation could create home buyer tax credit A state association of real estate agents is backing legislation that would create a New Jersey tax credit for home buyers, according to a release. The bill, which … Continue reading

Posted in New Jersey Real Estate, Property Taxes | 693 Comments

Fed: Housing markets appear to have softened in early 2010

From the Federal Reserve: The Beige Book – Second District — New York The Second District’s economy has shown some further signs of strengthening since the last report, despite some apparent slowing in the housing market; input price increases have … Continue reading

Posted in Economics, New Jersey Real Estate | 434 Comments

Recession not so bad?

From NJBIZ: Experts: N.J. less hard-hit by recession, but projected for slower growth The Garden State has withstood the economic downturn better than other parts of the country, with less dramatic increases in unemployment and availability rates in commercial real … Continue reading

Posted in Economics, New Jersey Real Estate | 377 Comments

Making sense of the foreclosure numbers

From the NY Times: In New Jersey, No Consensus on Foreclosure Problem IN gauging the severity of the foreclosure problem in New Jersey, the experts could hardly be farther apart. Some see the state as relatively unscathed at this point, … Continue reading

Posted in Economics, Foreclosures, New Jersey Real Estate | 485 Comments