Monthly Archives: May 2012

Come to NJ – Get Rich!

From the NYT: Memo to Would-Be Members of the 1%: Move to the Northeast or Mid-Atlantic Reaching for the American dream? Your best chances are probably in New York, New Jersey or Maryland. Those states are best at helping Americans … Continue reading

Posted in Economics, New Jersey Real Estate | 163 Comments

Mixed bag for Jersey prices

From the APP: Home prices rise in half of U.S. cities, fall in NJ Prices for single-family homes climbed in half of U.S. cities in the first quarter as real estate markets stabilized. But in the region that includes Monmouth … Continue reading

Posted in Employment, Housing Recovery, New Jersey Real Estate | 144 Comments

North Jersey Contracts – April 2012

(Source GSMLS, except Bergen which is NJMLS) Pending Home Sales (Contracts) ——————————- Bergen County April 2011 – 669 April 2012 – 813 (Up 21.5% YOY) Essex County April 2011 – 324 April 2012 – 402 (Up 24.1% YOY) Hunterdon County … Continue reading

Posted in Economics, Housing Recovery | 294 Comments

Shocking News: Banks Screw Borrowers

From Bloomberg: Look Who’s Pushing Homeowners Off the Foreclosure Cliff One of the more confounding aspects of the U.S. housing crisis has been the reluctance of lenders to do more to assist troubled borrowers. After all, when homes go into … Continue reading

Posted in Mortgages, National Real Estate | 81 Comments

The water is nice, but don’t turn your back on the waves

From the NYT: Partly Sunny at the Shore JOEL NAROFF, an economist who last year won a prize from the National Association for Business Economics as the country’s most accurate forecaster, found his prediction skills wanting four years ago when … Continue reading

Posted in Economics, Housing Recovery, Shore Real Estate | 29 Comments

National asking prices continue to rise (not so much here)

From the WSJ: Report: Asking Prices Bode Well for Spring Sales A report out Thursday says that strengthening asking prices for homes point to higher sales prices as early as June, which would be a welcome turn for the beleaguered … Continue reading

Posted in Economics, Housing Recovery | 147 Comments

Do renters really want to be owners?

Or is Pulte just pushing a load of crap? From the WSJ: Renters Really Prefer Owning, Builder Survey Says. A survey from PulteGroup — one of the nation’s largest home builders — has found a surprising result: Many renters want … Continue reading

Posted in Economics | 237 Comments

Where the wealth is

From CNBC: America’s 10 Richest Counties 10. Westchester County, N.Y. Average income: $128,127 … 9. Morris County, N.J. Average income: $128,371 Morris County, located about 25 miles from New York City, is another county within easy commuting distance to Manhattan. … Continue reading

Posted in Economics, National Real Estate | 73 Comments