Monthly Archives: November 2011

“People need to feel like they’re getting a great deal.”

From the WSJ: Home Prices Edge Downward Home prices declined in September and are poised for a grim winter as banks step up their efforts to take back and sell foreclosed properties. Prices fell 0.6% from August, according to the … Continue reading

Posted in Economics, Housing Bubble, Housing Recovery, National Real Estate | 88 Comments

Foreclosures? Not in NYC.

From HousingWire: NYC foreclosures drop 32% New York City foreclosure filings dropped 32% in the third quarter over last year. Lenders filed 3,168 foreclosures on single-family and multifamily properties during the quarter, according to a study from New York University … Continue reading

Posted in Foreclosures, National Real Estate | 151 Comments

FHA: Nothing to see here, move along

From the WSJ: What Housing Risk? Before the 2007 housing bust, financial analysts who raised questions about Fannie Mae and Freddie Mac’s shaky finances were dismissed as cranks. So it’s worrying to see a thoughtful critique of another taxpayer-backed monolith—the … Continue reading

Posted in Economics, Housing Bubble, National Real Estate, Risky Lending | 120 Comments

No quick rebound for housing

From CNBC: Housing Prices Won’t Recover Until 2013: Economists U.S. home prices will stagnate through next year and only start recovering in 2013, according to economists polled by Reuters who also felt the stimulus options being floated will not do … Continue reading

Posted in Economics, Employment, Foreclosures, Housing Recovery, National Real Estate | 23 Comments

Town Mergers – Elegant solution or are we the suckers?

From the APP: Gov: Mergers can help towns save tax dollars Gov. Chris Christie threw state support behind the successful effort to consolidate the Princetons into one town, but said he is not sure how many more town mergers are … Continue reading

Posted in Economics, New Jersey Real Estate, Property Taxes | 155 Comments

October Home Sales Surprise (only slightly)

From the WSJ Developments Blog: Behind the Numbers: Thankful for Existing-Home Sales Here’s a reason for America’s real-estate agents to start celebrating Thanksgiving a few days early: Sales of previously owned homes in the U.S. — the biggest part of … Continue reading

Posted in Employment, Housing Recovery, National Real Estate | 115 Comments

Bottoms up!

From the WSJ: Housing Market May Be Nearing a Bottom The housing market is starting to show a pulse. For the first time in a long time, housing figures are coming in better than expected. The National Association of Home … Continue reading

Posted in Economics, Housing Recovery, National Real Estate | 127 Comments

Under Pressure

Pressure pushing down on me Pressing down on you no man ask for Under pressure – that burns a building down Splits a family in two Puts people on streets It’s the terror of knowing What this world is about … Continue reading

Posted in Economics, Housing Bubble, Housing Recovery, New Jersey Real Estate | 29 Comments

NJ Unemployment Falls to 9.1%, 2,500 net jobs created in October

From the Star Ledger: NJ unemployment falls and jobs increase as state shares in slowly growing U.S. economy New Jersey’s unemployment rate dropped to 9.1 percent last month as private businesses added 4,000 jobs, state officials announced today. It was … Continue reading

Posted in Economics, New Jersey Real Estate | 99 Comments

What to make of “hyperlocal” recoveries? Noise? Something more?

From US News: Are Things Looking Up for the Housing Market? For-sale home inventories are dropping nationally while median sales prices are rising, according to new data released Wednesday, a rare but encouraging sign of renewed optimism in America’s feeble … Continue reading

Posted in Economics, Housing Recovery, National Real Estate | 123 Comments

Bye bye middle class burbs

Sound familiar? Where have all the middle class neighborhoods gone? Seems like in Jersey, it’s becoming more and more common to have to either stretch far above one’s income to afford a nice neighborhood, or have to settle for something … Continue reading

Posted in Economics, National Real Estate | 112 Comments

Who matters more? Rich or poor?

From Bloomberg: NJ Taxes Cause Rich People to Move, Economist Says New Jersey’s high taxes drive out wealthy residents, slowing the state’s recovery, said Charles Steindel, the state treasury department’s chief economist. Property, income and estate taxes are the top … Continue reading

Posted in Economics, New Jersey Real Estate | 120 Comments

White Elephant Returns to Jersey

From the Star Ledger: McMansions swell the real eastate market as homebuyers think small Ten years ago, when their grandchildren were young and visiting often, Frank and Rosemary Santoloci bought a brand new five-bedroom, four-bathroom home on four acres in … Continue reading

Posted in Economics, New Development, New Jersey Real Estate | 167 Comments

Lawyers and tanks and mold, oh my!

From the NY Times: What Lies Beneath, and Behind ON top of the obvious hurdles to getting a home sale finalized these days, some brokers say hidden environmental issues are more often showing up at the last minute: a new … Continue reading

Posted in New Jersey Real Estate | 66 Comments

Do foreclosures even matter anymore?

From Bloomberg: Foreclosure Filings in U.S. Rise 7% as Bank ‘Rain Delay’ Eases U.S. foreclosure filings rose 7 percent in October to a seven-month high as lenders started to speed up action against delinquent borrowers after a yearlong review into … Continue reading

Posted in Foreclosures, Housing Bubble, Housing Recovery, National Real Estate | 222 Comments