Monthly Archives: November 2015

New tunnel? We can’t afford it.

From NJ Spotlight: HOW WILL CASH-STRAPPED NJ PAY ITS SHARE OF GATEWAY RAIL-TUNNEL PROJECT? Federal and state officials gave the plan to build a new rail tunnel under the Hudson River a major boost earlier this month when they announced … Continue reading

Posted in Economics, New Development, New Jersey Real Estate, Risky Lending | 76 Comments

Blame savers for the lack of recovery?

From Reuters: U.S. data points to moderate fourth-quarter growth U.S. consumer spending barely rose in October as households took advantage of rising incomes to boost savings to their highest level in nearly three years, pointing to moderate economic growth in … Continue reading

Posted in Demographics, Economics, Employment, National Real Estate | 34 Comments

Don’t be too thankful for the recovery

From the WSJ: Real Home Prices Could Take 17 Years to Return to Peak Home prices have been growing at a rate that some see as alarming—about twice the rate of wages. But adjusting for inflation, the market still has … Continue reading

Posted in Economics, Housing Recovery, National Real Estate | 13 Comments

State ready to force reassessment of properties

From the Star Ledger: State blasts tax boards, may force N.J. towns to reassess properties Three New Jersey municipalities in Union, Hudson and Middlesex counties are under investigation by the state for stalling property reassessments for decades and could be … Continue reading

Posted in New Jersey Real Estate, Politics, Property Taxes | 124 Comments

Prices, inventory weigh on home sales, but still up year over year

From Bloomberg: Sales of Existing U.S. Homes Fall From Second-Highest Since 2007 Sales of previously owned U.S. homes retreated in October from the second-highest level since 2007 as lean inventory limited momentum in residential real estate. Closings, which usually take … Continue reading

Posted in Economics, Housing Recovery, National Real Estate | 91 Comments

Fewer underwater than they think?

From the WSJ: Why the Housing Rebound Hasn’t Lifted the U.S. Economy Much American homeowners are finally digging out of the hole created by the housing crisis. But their housing wealth is playing a much smaller role in the overall … Continue reading

Posted in Demographics, Economics, Employment, Housing Recovery, National Real Estate | 43 Comments

Vindication … again!

Anyone who has been here since the beginning will remember Dominick Prevete, who we regularly sparred with in 2005. Well, it seems that the leading real estate bubble cheerleader has gotten himself into some trouble. But, before we get into … Continue reading

Posted in Housing Bubble, New Jersey Real Estate | 34 Comments

If high taxes mean no jobs, why has NY recovered?

From the Star Ledger: N.J. has worst business tax climate in U.S., study finds New Jersey’s high property and income taxes contribute to its standing as the nation’s least attractive tax climate for businesses, according to a Washington tax policy … Continue reading

Posted in Housing Recovery, Politics, Property Taxes | 97 Comments

NJ Tax Machine Rolls On

From the APP: Property tax relief? Not in sight in NJ (Warning annoying autoplay video) Tax relief doesn’t appear to be on the way anytime soon for New Jersey residents — in fact, top state lawmakers meeting here Wednesday spent … Continue reading

Posted in New Jersey Real Estate, Politics, Property Taxes | 138 Comments

Hardly making progress…

From the Record: Foreclosure crisis easing in NJ, but state still leads the nation in housing distress New Jersey continues to lead the nation in mortgage distress and foreclosure activity, the Mortgage Bankers Association said Tuesday. One in eight – … Continue reading

Posted in Employment, New Jersey Real Estate | 43 Comments

Zillow liberates data, dirty Realtors fight back

From HousingWire: Here is the latest Realtor.com attack aimed at Zillow Realtor.com’s latest attack at Zillow Group (ZG) took it to the streets, removing a house from the residential block by wrapping it in what they say is a real-life … Continue reading

Posted in Humor, Unrest | 114 Comments

The HELOC is back!

From the NYT: Cashing in on Home Equity Rising home prices are raising equity levels, and homeowners are cashing in on these gains. In the first three quarters of this year, the sales volume of single-family homes and condominiums reached … Continue reading

Posted in Economics, Employment, Housing Recovery, Risky Lending | 80 Comments

Foreclosures Jump in October

From HousingWire: RealtyTrac: Foreclosure starts post highest jump in more than four years Foreclosure filings — default notices, scheduled auctions and bank repossessions — were reported on 115,134 U.S. properties in October, up 6% from the previous month. This is … Continue reading

Posted in Economics, Foreclosures, Housing Recovery, New Jersey Real Estate | 91 Comments

Warm up the bulldozers!

From the WSJ: Hudson River Rail Tunnel Project Takes Another Step Forward An emerging plan to dig two new Hudson River rail tunnels came into sharper focus on Wednesday as state and congressional leaders outlined a plan to fund and … Continue reading

Posted in Economics, Employment, North Jersey Real Estate | 64 Comments

Christie wants to raise taxes on NJ

From the Star Ledger: Christie’s new tax plan would cost 40% of N.J. taxpayers an average $16,682 deduction Gov. Chris Christie wants to do away with a tax break that his state’s residents use more than almost anyone else. During … Continue reading

Posted in New Jersey Real Estate, Politics | 116 Comments