Monthly Archives: June 2018

June MarketNews

From the Otteau Group: June MarketNews Home sales in New Jersey increased by 2% in the month of May compared to the same month last year, recording more than 12,200 purchase contracts in a single-month, setting an all-time record. As … Continue reading

Posted in Demographics, Economics, Housing Bubble, Housing Recovery, New Jersey Real Estate | 71 Comments

Shut it down

From the WSJ: New Jersey Faces Possible Government Shutdown A government shutdown is still looming in New Jersey after several days of budget negotiations between Gov. Phil Murphy and state lawmakers. The state government could close at midnight Sunday if … Continue reading

Posted in Economics, New Jersey Real Estate, Politics | 95 Comments

Dylan, Chelsea, and Austin buy homes

From the Huffington Post: Millennial Buyers Face Tough Housing Market Yvonne Jimenez Smith and her husband, Brandon Smith, spoke in whispers recently as they visited a white stucco house they planned to buy on a leafy street in San Jose, … Continue reading

Posted in Demographics, Economics, National Real Estate | 125 Comments

Reaching the tipping point?

From CNBC: Home price gains ease in April: S&P Case-Shiller The heat appears to be coming off home prices, albeit very slightly. Nationally, values rose 6.4 percent annually in April, down from a 6.5 percent gain the previous month, according … Continue reading

Posted in Economics, Housing Bubble, Housing Recovery, National Real Estate | 161 Comments

AC back on track?

From the WSJ: Atlantic City Places a New Bet on an Old Favorite: Casinos Two years after plummeting gambling revenue nearly tipped this seaside resort into bankruptcy, two new casinos are opening on the boardwalk. The casinos, which have hired … Continue reading

Posted in Economics, Shore Real Estate, South Jersey Real Estate | 86 Comments

Showdown time

From the Star Ledger: Gov. Phil Murphy’s rosy scenario for economic growth is full of thorns Uh-oh. The governor’s got a new cliche. It’s “rosy scenario,” and Phil Murphy repeated it several times last week as he fought with his … Continue reading

Posted in Economics, New Jersey Real Estate, Politics | 89 Comments

The good old days really were

From Curbed: How the housing market has become harder since 1988 Millennials facing today’s difficult housing market, and the challenges of buying their first home, can wistfully imagine the ’50s and dream of a time when government policy and growth … Continue reading

Posted in Demographics, Economics, National Real Estate | 59 Comments

About time…

From CNBC: Millennials moving out of Mom and Dad’s place, study shows If you have an adult child living at home, you could become an empty nester sooner than you thought. The number of 18- to 34-year-olds living with parents … Continue reading

Posted in Demographics, Economics, Employment, National Real Estate | 136 Comments

Will you pay? Will I pay? Who will pay? No idea yet.

From the Star Ledger: Raise the sales tax? The business tax? Dueling Democratic budgets bring N.J. closer to a shutdown. Democrats who control the state Legislature on Monday announced they’ll introduce a $36.2 billion budget that would raise taxes on … Continue reading

Posted in Economics, New Jersey Real Estate, Politics | 157 Comments

Glimpse into the future: NJ coming for your house

What happens when NJ can’t afford to pay it’s own taxes anymore? Rampant (fraudulent?) mismanagement of assessments? Detroit offers a glimpse into what to come in NJ. From the Detroit News: Study: Bad assessments prompt 10K Detroit foreclosures One in … Continue reading

Posted in Economics, Foreclosures, New Jersey Real Estate, Politics, Property Taxes | 104 Comments

NJ not a place for startups

From WNYC: New Jersey Wants to Stake a Claim in the Innovation Economy New Jersey Governor Phil Murphy rarely misses an opportunity to point out the Garden State once was a hub for innovation — where Thomas Edison invented the … Continue reading

Posted in Demographics, Economics, Employment, New Development, New Jersey Real Estate | 228 Comments

Short term looking good for NJ, long term? Ummm…

From the APP: NJ jobs: Companies hiring, and this is why you’d better grab a job now New Jersey employers are recruiting aggressively to fill job openings, but clouds are beginning to build, which could force them to temper their … Continue reading

Posted in Demographics, Economics, Employment, New Jersey Real Estate | 103 Comments

Last cheap house at the shore?

From the Star Ledger: While there is a significant amount of hype around an Atlantic City revival in 2018, that upward swing hasn’t happened just yet. You know what that means? It is still relatively inexpensive to buy real estate … Continue reading

Posted in Shore Real Estate | 154 Comments

How far can home prices go?

From CNBC: US house prices are going to rise at twice the speed of inflation and pay: Reuters poll An acute shortage of affordable homes in the United States will continue over the coming year, according to a majority of … Continue reading

Posted in Demographics, Economics, Employment, Housing Bubble | 138 Comments

Housing market got it’s swimmies back

From CNBC: US homeowners gained $1 trillion in the last year as their housing values jumped Fast-rising home prices may be a roadblock for buyers, but they are putting some homeowners on Easy Street. As home prices rise, so does … Continue reading

Posted in Economics, Foreclosures, Housing Recovery, National Real Estate | 77 Comments