Monthly Archives: April 2012

Fed: April Beige Book

From the Federal Reserve: Beige Book – April 11, 2012 Second District–New York Growth in the Second District’s economy has picked up somewhat since the last report. Labor market conditions have been stable to slightly stronger in recent weeks, and … Continue reading

Posted in Economics, New Jersey Real Estate | 127 Comments

How the Fed learned to stop worrying and love bad loans

From the Wall Street Journal: Jersey Rejuvenation Story About six years ago, Newark, N.J., seemed to be winning its long struggle to emerge from decades of urban decay, and one of the symbols of that was the opening of Eleven80, … Continue reading

Posted in Foreclosures, New Development, New Jersey Real Estate, Risky Lending | 141 Comments

March MLS Snapshot

(Source GSMLS, except Bergen which is NJMLS) Pending Home Sales (Contracts) ——————————- Bergen County March 2011 – 709 March 2012 – 815 (Up 15% YOY) Essex County March 2011 – 327 March 2012 – 452 (Up 38% YOY) Hunterdon County … Continue reading

Posted in Economics, New Jersey Real Estate | 147 Comments

Ritholtz on Recovery

Barry Ritholtz in the Washington Post: Spring brings signs of hope and renewal — except in the housing market Ahhh, winter is finally over. Each year about this time, flowers push up through the soil, trees begin to bud — … Continue reading

Posted in Economics, Housing Recovery | 109 Comments

Bizzaro Weekend Edition – Foreclosure delays helping the economy

From Barrons: Consumers’ Quiet Helper: The Fruits of Foreclosure Imagine living at home and paying no mortgage, interest or taxes. That may sound like some late-night TV commercial, but millions of people are doing just that—the silver lining to having … Continue reading

Posted in Economics, Foreclosures | 30 Comments

Yet another housing price index – This one says good times are here again

From the Economist: The rebound is now On fundamentals, America’s housing market looks increasingly healthy. Inventory levels and vacancy rates are way down and rents are up. At the national level, the entirety of the price boom between 2000 and … Continue reading

Posted in Economics, Housing Recovery, National Real Estate | 79 Comments

Foreclosure tsunami on the horizon?

From Reuters: Americans brace for next foreclosure wave Half a decade into the deepest U.S. housing crisis since the 1930s, many Americans are hoping the crisis is finally nearing its end. House sales are picking up across most of the … Continue reading

Posted in Economics, Foreclosures, Housing Recovery, National Real Estate | 106 Comments

Zelman: “The equation of renting versus owning is becoming much more favorable for owning”

From the WSJ: As Home Rents Head Higher, Owning Regains Its Appeal Climbing rents for apartments are combining with a continued decline in home prices to push once-reluctant home buyers into finally taking the plunge, say economists and real-estate agents, … Continue reading

Posted in Economics, Housing Recovery, National Real Estate | 143 Comments

First-timers stepping back into the market?

From Crain’s New York: Rising rents boosting sales of starter apartments Studios and one-bedroom apartments in Manhattan made a comeback during the first three months of this year, according to quarterly residential market reports released Tuesday morning as rising rents … Continue reading

Posted in Economics, Housing Recovery, NYC | 146 Comments

Hammers start to swing again

From the Record: Home construction shows signs of life after long downturn From new luxury homes in Saddle River to town houses in Garfield to rentals in Fort Lee, Elmwood Park, Hackensack and Wood-Ridge, North Jersey is seeing small signs … Continue reading

Posted in Economics, Housing Recovery, New Development, New Jersey Real Estate | 107 Comments

Too early for so much hope and optimism?

From the Star Ledger: Warm weather, improved economy bringing out homebuyers and sellers this spring In the real estate business, there is a budding sense of optimism these days. A warmer winter, a stronger sense of job security and a … Continue reading

Posted in Economics, Housing Recovery, New Jersey Real Estate | 37 Comments