Monthly Archives: June 2012

Families hit hard where it hurts … in the wallet

From Bloomberg: http://www.bloomberg.com/news/2012-06-11/fed-says-family-wealth-plunged-38-8-in-2007-2010-on-home-values.html The financial crisis wiped out 18 years of gains for the median U.S. household net worth, with a 38.8 percent plunge from 2007 to 2010 that was led by the collapse in home prices, a Federal Reserve … Continue reading

Posted in Economics, Housing Bubble, National Real Estate | 145 Comments

The Paradox of Negative Equity

From HousingWire: CoreLogic: Negative equity props up home prices in toughest markets The negative equity problem may actually be pushing up home prices at the bottom of some of the hardest-hit housing markets, according to a report from CoreLogic. The … Continue reading

Posted in Economics, Housing Recovery, National Real Estate | 137 Comments

NJ Schools – Worth Every Penny!

From the Daily Journal: N.J. high school more expensive than Harvard Kevin Kusion’s journey through high school was normal in almost every way, except for what taxpayers spent to educate him. The cost for his last year of high school: … Continue reading

Posted in New Jersey Real Estate, Politics, Property Taxes | 226 Comments

North Jersey Contracts – May 2012

(Source GSMLS, except Bergen which is NJMLS) Pending Home Sales (Contracts) ——————————- Bergen County May 2011 – 734 May 2012 – 877 (Up 19.5% YOY) Essex County May 2011 – 356 May 2012 – 470 (Up 32.0% YOY) Hunterdon County … Continue reading

Posted in Housing Recovery, New Jersey Real Estate | 201 Comments

June Beige Book

From the Fed: Beige Book – June 6, 2012 Second District–New York The Second District’s economy has continued to expand at a moderate pace since the last report. Labor market conditions have generally improved, and, on balance, contacts indicate they … Continue reading

Posted in Employment, New Jersey Real Estate | 130 Comments

8 house price indexes, no clear direction

From the WSJ: Home-Price Scorecard: A Turning Market, But Which Way? (click for graphic) Our latest price scorecard raises the question of whether a real or false spring is under way. The March numbers, which show the percentage change in … Continue reading

Posted in Economics, Housing Bubble, Housing Recovery, National Real Estate | 288 Comments

No Borrower Left Behind

From American Banker: HARP Refis Skyrocket in 1Q HARP 2.0, the expanded GSE refinancing program unveiled late last year, kicked into full speed during the first quarter with volumes doubling to 180,000 units compared to the prior period. The program … Continue reading

Posted in Mortgages, National Real Estate, Risky Lending | 120 Comments

How low can it go?

From CNN/Money: Mortgage rates keep plunging: 15-year dips below 3% Mortgage rates continued to plunge to new lows this week, with interest rates on the 15-year fixed rate mortgage dipping below 3% for the first time on record. The 30-year … Continue reading

Posted in Economics, Mortgages, Risky Lending | 215 Comments

And so it begins…

Hat tip PGC

Posted in Economics, Housing Bubble, North Jersey Real Estate | 292 Comments