Monthly Archives: October 2014

Homeownership lowest since 1995 … Rental vacancies lowest since 1995

From Bloomberg: U.S. Homeownership Rate Falls to Lowest Since Early 1995 The homeownership rate in the U.S. fell to the lowest in more than 19 years as the market shifted toward renting and tight credit blocked some potential buyers. The … Continue reading

Posted in Economics, Employment, Housing Recovery, Mortgages | 144 Comments

Rates go up now?

From HousingWire: QE3 ends, how long until interest rates rise? The market expected the announcement of the end of quantitative easing Wednesday, putting an end to a more than two-year-old asset purchase program. “Slightly less expected, however, is that despite … Continue reading

Posted in Economics, Mortgages, Politics | 133 Comments

NY Metro Home Prices Up 3.1% YOY

From the Record: Home prices up 3.1 percent in region, 5.6 percent nationwide Home values rose 3.1 percent in the region in the 12 months ending in August, the S&P/Case-Shiller home price index reported Tuesday – evidence that the housing … Continue reading

Posted in Housing Recovery, New Jersey Real Estate | 95 Comments

September Pending Sales Improve Slightly

From Bloomberg: Pending Home Sales Index Posts Small Gain in September The number of contracts signed to buy previously owned homes rose slightly in September after an August decline, a sign the housing recovery remains uneven. Pending sales of existing … Continue reading

Posted in Housing Recovery, National Real Estate | 83 Comments

Nobody happy about September’s New Home Sales

From HousingWire: New home sales gains screech to a virtual halt in September Gains in sales of new single-family houses in September 2014 came to a screeching virtual halt, printing at a seasonally adjusted annual rate of 467,000, according to … Continue reading

Posted in Economics, Employment, Housing Recovery, National Real Estate, New Development | 122 Comments

Foreclosure rate falls, NJ still near top

From MarketWatch: Foreclosures at lowest rate since February 2008 U.S. foreclosures have fallen to their lowest rate since February 2008, as states clear the backlog of foreclosures from the crisis years and the market slowly returns to normal. At 1.76% … Continue reading

Posted in Foreclosures, Housing Recovery, National Real Estate | 113 Comments

More homeowners learn to swim, seriously delinquencies continue to fall

From MarketWatch: 15% of homes still seriously underwater According to a report released Thursday by RealtyTrac, 15% of U.S. properties (representing 8.1 million properties) with a mortgage are seriously underwater — meaning the homeowner owes at least 25% more than … Continue reading

Posted in Economics, Housing Recovery, Mortgages, National Real Estate, Risky Lending | 113 Comments

Existing home sales stronger in September

From the WSJ: U.S. Existing-Home Sales Hit Highest Level of Year U.S. home sales reached the highest level of the year in September, a sign of slowly building momentum in a housing market whose recovery has come in fits and … Continue reading

Posted in Economics, Employment, Housing Recovery, National Real Estate | 92 Comments

Trey calls BS on little houses

(IMHO, this guy, Trey Garrison, is the top real estate journalist at the moment. Holds nothing back. A few years back this kind of journalism out of a trade rag was unheard of. I’m still kind of surprised this kind … Continue reading

Posted in Demographics, Economics, New Development | 70 Comments

Housing market in NJ haunted?

From the APP: Toms River still haunted by ‘Amityville Horror’ For some Toms River residents, the filming of Amityville Horror in the late 1970s and its subsequent and less memorable sequels of the 1980s, was in fact a real life … Continue reading

Posted in Humor, New Jersey Real Estate | 103 Comments

Rate dip causes refi boomlet

From Bloomberg: Rates Below 4% Leave U.S. Refinancing Banker Sleepless The drop in mortgage rates below 4 percent has cut into Debra Shultz’s sleep. The New York City banker is busier than she’s been in months, working with three dozen … Continue reading

Posted in Economics, Mortgages, National Real Estate | 11 Comments

Unemployment declines in NJ, but really, the numbers just suck

From the Star Ledger: Economist says N.J. jobs market does ‘not have any momentum’ Despite the thousands of Atlantic City casino workers who lost their jobs last month, the unemployment rate in New Jersey ticked down slightly in September, according … Continue reading

Posted in Economics, Employment, New Jersey Real Estate | 92 Comments

October Beige Book

From the Federal Reserve: October Beige Book Second District–New York Growth in the Second District’s economy has slowed to a somewhat more modest pace since the last report. Prices of finished goods and services continue to rise at a subdued … Continue reading

Posted in Economics, Employment, Housing Recovery, New Jersey Real Estate | 102 Comments

Six hundred down, thousands to go

From the Philly Inquirer: Camden plans to demolish nearly 600 houses Within a two-block stretch of Sheridan Street in Camden, 13 homes have boarded-up windows and bright-orange Department of Public Works stickers marking them for a demolition day that has … Continue reading

Posted in Demographics, Economics, Employment, Foreclosures, New Jersey Real Estate | 138 Comments

Surprised that NJ let us all down again?

From HousingWire: The shocking truths for homeowners struggling against foreclosure Several big banks have negotiated large settlements with the Department of Justice for their role in the housing bubble and subsequent economic collapse. While the historic settlements sound promising on … Continue reading

Posted in Foreclosures, New Jersey Real Estate, Politics | 62 Comments