Monthly Archives: October 2018

Room to run or end of the road?

From Bloomberg: Housing Market Is Raising Serious Red Flags Despite a robust U.S. economy, at least as measured by gross domestic product, real home price growth is locked in a cyclical downturn. If that’s not bad enough, it will likely … Continue reading

Posted in Housing Bubble, National Real Estate | 90 Comments

Rockland and Westchester slow

From LoHud: After a robust year, there are signs the housing market is in correction mode The residential market in the Lower Hudson Valley shows signs of a slowdown. The number of sales in the third quarter slipped from a … Continue reading

Posted in Economics, Housing Bubble, North Jersey Real Estate, NYC | 64 Comments

Oh baby, now we’re talking

From CNBC: Thousands line up for zero-down-payment, subprime mortgages Magdalene Altidor lost her home to foreclosure during the subprime mortgage crisis, but this week she was first in line at a four-day event in Miami where borrowers with poor credit … Continue reading

Posted in Housing Bubble, Mortgages, Risky Lending | 16 Comments

Big Spender

From the Star Ledger: $170M Bayfront plan given final OK by Jersey City council A $170 million plan that city officials say will give them more control over the redevelopment of a formerly contaminated swath of waterfront land cleared a … Continue reading

Posted in Gold Coast, New Development, New Jersey Real Estate, Politics | 33 Comments

Mortgage rates touch 5% again

From CNBC: Mortgage rates jump past 5%, signaling more home price cuts ahead Millennials are in their prime homebuying years, and they’re used to cheap credit. So they might be in for a rude awakening as mortgage rates jump. The … Continue reading

Posted in Mortgages, National Real Estate | 80 Comments

Can NJ buy it’s way into a startup economy?

From the Star Ledger: Murphy’s risky plan to spark Jersey’s sagging economy Is New Jersey’s government smart enough to invest $250 million in venture capital projects, and come out a winner? Should a government that is not competent to run … Continue reading

Posted in Demographics, Economics, Employment, New Jersey Real Estate | 127 Comments

Murphy taxes online sales

From InsiderNJ: Now Law: Burzichelli & Moriarty Bill to Require Marketplace Facilitators & Certain Remote Sellers to Pay NJ Sales Tax Legislation sponsored by Assemblymen John Burzichelli and Paul Moriarty to ensure a level playing field between brick-and-mortar businesses and … Continue reading

Posted in Economics, New Jersey Real Estate, Politics | 128 Comments

Rent a shore house, pay a new tax, unless you use a realtor

One of the most disgusting pieces of protectionist legislation I’ve ever seen. From the APP: NJ Airbnb users now must pay tax, unless they use a real estate agent Visitors to the Shore who want to avoid paying a new … Continue reading

Posted in New Jersey Real Estate, Shore Real Estate, Unrest | 38 Comments

Otteau: September Update

From the Otteau Group: September MarketNews Home purchase contracts in New Jersey declined in August by 2% compared to the same month last year. Almost half of the markets in NJ have seen a decline in the pace of home … Continue reading

Posted in Demographics, Economics, New Jersey Real Estate | 120 Comments

NYC transitions into a cooling market

From CNBC: NYC has moved into a buyer’s market, and is experiencing a housing trend last seen in 2009 New York City’s pricey real estate has become a “buyers market,” new data suggests, characterized by lowball offers and a rise … Continue reading

Posted in Demographics, Economics, Housing Bubble, Lowball, NYC | 46 Comments