Monthly Archives: August 2014

Go long bulldozers

From NJ Spotlight: HOUSING MARKET’S STATEWIDE WOES ARE REFLECTED, MAGNIFIED IN TRENTON Capital city’s plight made worse by safety concerns, loss of jobs and departure of businesses, overall weakness of New Jersey’s economy If New Jersey’s political leaders want to … Continue reading

Posted in Demographics, Economics, Employment, Foreclosures, New Jersey Real Estate | 99 Comments

No bargains for new buyers

From Bloomberg: First-Time Buyers Shut Out of Expanding U.S. Home Supply The four-bedroom house that Ilia Nielsen-Dembe purchased in west Denver earlier this year wasn’t her top choice. The first-time buyer had to settle on a home in a neighborhood … Continue reading

Posted in Demographics, Economics, National Real Estate | 240 Comments

Brooklyn by the sea

From the Star Ledger: Progress in Asbury Park, developers shift focus from oceanfront to downtown About 10 years ago, waves of ritzy, new multifamily buildings along Asbury Park’s oceanfront were expected to breathe life into a city in need of … Continue reading

Posted in New Development, Shore Real Estate | 68 Comments

HELOC resets not so scary

From the NYT: Dealing With Home-Equity Resets New research from TransUnion, a credit information service, suggests that the payment shock expected to hit millions of consumers with home equity lines over the next few years may not pose as much … Continue reading

Posted in Economics, Mortgages, Risky Lending | 30 Comments

Wastin’ away again in Foreclosureville

From the Record: NJ, the foreclosure state The rate of new foreclosures fell in New Jersey in the second quarter but was still the highest in the nation, followed by Maryland and Florida, a new Mortgage Bankers Association report said. … Continue reading

Posted in Foreclosures, New Jersey Real Estate | 128 Comments

More froth than a 5 dollar latte

From the Washington Post: Millennials should be buying a home right now Millennials, what are you waiting for? You should be buying a home right now. That’s the conclusion of a pair of recent studies that looked at homeownership. Zillow, … Continue reading

Posted in Economics, Housing Bubble | 129 Comments

The casinos formerly named Trump

From the APP: Trump sues to get name off casinos Donald Trump has a message for the two Atlantic City casinos that still bear his name, five years after he gave up anything to do with running them: You’re fired. … Continue reading

Posted in Shore Real Estate | 160 Comments

Building up, but no new jobs

From the Record: Home building is up, but construction hiring hasn’t followed While home building is on the rise in New Jersey, construction hiring in the state has actually declined over the past year. But that may change in the … Continue reading

Posted in Economics, Employment, Housing Recovery, New Development | 137 Comments

Sandy changes the shore a second time

From the Record: As shore properties are sold after Sandy, beach towns change Superstorm Sandy sent 18 inches of water rushing in to Bob Zirkel’s Ortley Beach home, causing thousands of dollars in damage. But bad as the storm was … Continue reading

Posted in Economics, Housing Recovery, New Development, Shore Real Estate | 86 Comments

Oh boy, this won’t end well

From Housingwire: New York now allows shared appreciation mortgage modifications Underwater homeowners in New York state are now eligible for an additional form of mortgage modification intended to help more of them keep their homes, in a development quietly passed … Continue reading

Posted in Foreclosures, Mortgages, Risky Lending | 28 Comments

Did Trump win it?

From the Star Ledger: Atlantic City home owned by Trump holdout sold at auction An Atlantic City-area real estate figure has bought at auction a property that earned its owner near-folk hero status for resisting decades of overtures from developers … Continue reading

Posted in Lowball, Shore Real Estate | 74 Comments