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 year ago while inventory increased slightly, according to a recent market report.

The report, issued by the Hudson Gateway Multiple Listing Services, a subsidiary of the Hudson Gateway Association of Realtors (HGAR), signals a departure from the trend in recent quarters when the lack of inventory was blamed for a sales slowdown in the heated market.

In Westchester, the number of overall sales from July to September was 3,022, the lowest in the past four years, or a decrease of 5.2 percent from a year ago when the figure was 3,189.

Meanwhile, the end-of-quarter inventory slightly increased to 4,175 from a year ago when the figure was 4,135, reversing a downward trend since 2014.

In Rockland, the number of overall sales in the third quarter was 811, down 1.2 percent from a year ago when the figure was 821.

Rockland’s end-of-quarter inventory was 1,289, up 3.6 percent compared to a year ago when the figure was 1,244, reversing the downward trend since 2013.

Jennifer Mallory, regional vice president of HGAR and associate broker with Keller Williams in Rockland, said the market, which has been heating up in the past few years, is in correction mode.

“The market runs in cycle, and you can’t have the entire time upward. At a certain point it goes down,” she said, “It’s part of the natural cycle.”

She added that the inventory has increased because homeowners decided to put their houses on the market as mortgage rates start rising.

Mortgage rates recently hit 5 percent for the first time since February 2011.

“Savvy homeowners would know that the best time to put their homes on the market is when the purchasing power of buyers is still strong,” she said.

The slowdown has yet to be translated into pricing.

This entry was posted in Economics, Housing Bubble, North Jersey Real Estate, NYC. Bookmark the permalink.

64 Responses to Rockland and Westchester slow

  1. Bystander says:

    Damn, The Coffee Shop in Union Square is closing, citing rent hikes and higher wages. That place is an institution and perfect location. If they can’t keep it going, you have wonder. That said, food was not good and staff had attitude when I was there two months ago. Still, hard to believe that they were struggling.

    “Milite told Forbes that rent had become “unusually high,” accounting for close to 27% of the restaurant’s gross revenues. Add in the scheduled $2-per-hour minimum wage hike set to take place on December 31—an increase that, across Coffee Shop’s 150 employees and multiple dayparts of service, would have added $46,000 to the monthly payroll—made it impossible to break even by cutting costs elsewhere.

    “It’s a wakeup call for our industry in general,” Milite said. “When a restaurant is one of the top-ranked restaurants in America, sales-wise, and can no longer afford to operate, you have to look at that and say there’s a shifting paradigm in the business”

  2. grim says:

    Rent was rumored to be $2m a year.

  3. dentss says:

    Go to Starbucks ….or DD

  4. The Original NJ ExPat says:

    wow

  5. chicagofinance says:

    It’s fcuking Union Square….. the center of Silicon Alley…… it is a sh!thole bar….

  6. chicagofinance says:

    No more DD…. just D

    dentss says:
    October 15, 2018 at 8:11 am
    Go to Starbucks ….or DD

  7. FuuuuukYou says:

    “…Make Americans Pay Taxes Again….”

    Cretins

  8. Blue Ribbon Teacher says:

    So, Warren released a genetic test that supposedly indicates somewhere generations down that she is partially native american through her “great-great-great-grandmother”

    My great grandfather was half English, which makes me about 6% and my son about 3% English. He’s Chinese, Polish, Lithuanian, Italian, Irish, and technically English. His son/daughter would be about 1.5% English. At what point, does it not even count anymore because I never bothered including it when I tell people what I am.

  9. maga(t) says:

    Her lineage matches that of many current tribal chiefs. Stick to teaching cell division.

  10. chicagofinance says:

    She put it one her law school application…… serious breach of ethics….

    Blue Ribbon Teacher says:
    October 15, 2018 at 10:08 am
    So, Warren released a genetic test that supposedly indicates somewhere generations down that she is partially native american through her “great-great-great-grandmother”

    My great grandfather was half English, which makes me about 6% and my son about 3% English. He’s Chinese, Polish, Lithuanian, Italian, Irish, and technically English. His son/daughter would be about 1.5% English. At what point, does it not even count anymore because I never bothered including it when I tell people what I am.

  11. Maga(t) says:

    10:38 are you serious? You elected a completely amoral $hitbag. You are impossible to take seriously. Scumbag.

  12. chicagofinance says:

    “And in 1996, as Harvard Law School was being criticized for lacking diversity, a spokesman for the law school told the Harvard Crimson that Warren was Native American.”

  13. chicagofinance says:

    I voted for Hillary you moron…..

    Maga(t) says:
    October 15, 2018 at 10:43 am
    10:38 are you serious? You elected a completely amoral $hitbag. You are impossible to take seriously. Scumbag.

  14. chicagofinance says:

    “The problem with Elizabeth Warren is she is not the average wannabe,” said David Cornsilk, a Cherokee historian and genealogist. “She is an academic. She has a higher level of aptitude to examine these issues. And a higher responsibility to examine them, and accept the research that is done, or to counter it with alternative research.”

  15. Fast Eddie says:

    Maga(t),

    Drunk already?

  16. Juice Box says:

    eh from the report? Mexico, Peru,and Colombia?

    6-10 generations?

    For Native American references, we used samples within the 1000 Genomes project of Native American ancestry; these samples come from Mexico, Peru,
    and Colombia. (It is not possible to use Native American reference sequences from inside the United States, since Native American groups within the US have not chosen to participate in recent population
    genetics studies.)

  17. Fast Eddie says:

    F.uck starbucks. They s.uck and so does their coffee.

  18. Fast Eddie says:

    According to Warren’s own DNA test, she has, at best, 1/64th Native American ancestry, but it could also be as low as 1/1,024. Percentage-wise, she can claim somewhere between 0.1 percent to 1.56 percent Native lineage.

    The minimum requirement to claim membership in most Native American tribes ranges from 1/8 (12.5 percent) to 1/2 (50 percent). A few tribes have a minimum requirement of 1/16 (six percent).

    Pocahontas! LMAO!!

  19. MAGA2020 says:

    Hopefully warren runs. It will portray the Democrat party as the race obsessed radicals they’ve become.

  20. MAGA2020 says:

    Anyone think this Murphy campaign r@pe Story has legs? At the very least there are a few questions to answer via a vis the timeline. Conveniently the story broke when he’s out of pocket, one of the ways the fake news likes to cover for its allies

  21. Fast Eddie says:

    From someone’s comment:

    Running Bear and Crazy Elk took her Great Great Great Great Great Great Great Grandmother upstairs in their tee-pee after one beer and tried to take her clothes off. But she can’t remember much more after that one beer!

    OMFG! Lol!

  22. Maga(t) says:

    Boston Globe article – Today: In the most exhaustive review undertaken of Elizabeth Warren’s professional history, the Globe found clear evidence, in documents and interviews, that her claim to Native American ethnicity was never considered by the Harvard Law faculty, which voted resoundingly to hire her, or by those who hired her to four prior positions at other law schools. At every step of her remarkable rise in the legal profession, the people responsible for hiring her saw her as a white woman.

  23. Essex says:

    11:08 no integrity. None you are done guys. Jail. Tax cheaters? Trying to “lead” a failure always.

  24. ExxxxxxxEssex says:

    ^^i Typed dat, wit mah wiener. ^^ eddies leading the way

  25. Comrade Nom Deplume, who gets his Wawa coffee in Pennsy says:

    Did someone slip LSD into the NJ aquifers because no one is making sense this morning.

    Even for Essex and the Essex wannabes. More incoherent than usual.

  26. Juice Box says:

    lol – he Boston Globe just issued a correction and stated that 10th generation would in fact be 1/1024.

  27. Fast Eddie says:

    Another comment:

    She’s 1/64th Jeep Cherokee

    LOL!

  28. chicagofinance says:

    faculty……. application to LAW SCHOOL….

    Maga(t) says:
    October 15, 2018 at 11:47 am
    Boston Globe article – Today: In the most exhaustive review undertaken of Elizabeth Warren’s professional history, the Globe found clear evidence, in documents and interviews, that her claim to Native American ethnicity was never considered by the Harvard Law faculty, which voted resoundingly to hire her, or by those who hired her to four prior positions at other law schools. At every step of her remarkable rise in the legal profession, the people responsible for hiring her saw her as a white woman.

  29. chicagofinance says:

    sb faculty?

  30. chicagofinance says:

    excuse me…… or is the point that her lack of ethics as a freshly minted collegiate at 22 should not count, because she is not the same person today, or in late 20’s or 30’s…

    You know, she was young and entitled to make mistakes that eventually shaped her character in crucial ways….

  31. D-FENS says:

    So dumb. What was Warren thinking releasing those dopey results so close to elections? It does nothing but hurt her.

  32. chicagofinance says:

    Just to be clear:
    “If Warren seeks to tackle the issue, there are no easy options. Some tribe members want her to apologize to Native Americans for claiming heritage without solid evidence. Tribes across America have spent centuries denouncing whites who claim Indian DNA without a clear basis, claims they find deeply offensive.

    Another path includes pursuing stronger outreach to the tribes with whom she claims to share kinship, a strategy that she’s begun to employ. This too is fraught, as some Native American leaders are resentful that she’s done, in their estimation, little to help tribes as a powerful senator.

    “She’s not part of the Cherokee community,” said Chad Smith, who was the principal chief of the Oklahoma-based Cherokee Nation from 1999 to 2011. “She hasn’t reached out. She hasn’t come here and participated much.”

    “The mark of value in claiming heritage is: Do you use your position to give back?” Smith said. “If it is a claim that is valuable to her, she should be helping Indian country. She might be doing it with the overall agenda. But unless she’s contributing back, it is a somewhat hollow claim.” “

  33. leftwing says:

    Warren needs to bury the Native American issue or she’s not a viable Blue candidate for POTUS.

    As others have noted, this study will likely just stir the pot more for her over heritage and race.

    The proportion Native American, if valid, is ridiculously low especially when one generalizes it for the average American – nearly all of her ancestors emigrated here from Europe in the 1800s and one of them sometime somewhere interacted with someone else who 6-10 generations ago had some Indian in them.

    Most Americans aren’t aware of four prior generations in their family, let alone 10 (Pre-Revolution).

    She should keep digging. If she digs deep enough she can be the first person to be both Indian and DAR based on 0.025% heritage of each lol.

  34. Blue Ribbon Teacher says:

    The percentage that she could claim was always a joke. The question is, is it even ethical to claim knowing the purpose of the question on applications? There’s no clear answer as to how little % of your lineage is acceptable to make the claim. But any sensible person would assume she shouldn’t be checking off that box if it was her great great great grandparent.

  35. leftwing says:

    Sounds like the tribes themselves have actual percentages the follow….

    And I amend my prior thought….if 0.025% is the threshold she might be able to hit the trifecta…..DAR, Indian, and European royalty….all rolled into one!!

    What a bargain! Remember WJC’s first Prez run where he and HRC claimed we would ‘get two for the price of one’?

    She has them beat!

  36. leftwing says:

    The DNC now nominates…….The Most Reverend Her Highness Chief Warren!

    LOLOLOL.

  37. leftwing says:

    Causes a real conundrum……when she dresses formally is it a Puritan hat, Indian head dress, or royalty crown?

    Or just alternate?

    Her equivalent of a shoe closet….whatever ethnicity matches her mood for the day.

  38. MAGA2020 says:

    Metoo now blowing up in murphy’s face. Let’s see what excuses he has for sitting on accusations and continuing to employ an accused r@ post for months.

  39. Project on Tap says:

    anyone have a good place for ordering some Andersen or Pella (or any suggestions) windows? I don’t need service, consultation or replacement. I simply need to order the windows themselves. Thx.

  40. Project on Tap says:

    Trump is actually Drumpf, a German who claimed he was Scandinavian, when he could get away with it. Warren actually has family heritage of Native Americans. Cheeto Mussolini said he would donate $1M to charity (this morning he lied and said he didn’t say it…but of course, it is all there on tape), if she took a DNA test and it showed positive NA heritage.

    I am sure he writing the check as we…{crickets…crickets…crickets…}

  41. leftwing says:

    Got long today in some TSLA through earnings for anyone interested.

    Look at how the stock behaved during the downdraft with a decent floor around 247. Chartists may not like the setup but I see LT support at that level not a double top, etc.

    Glanced at the filings, I’m expecting CF to come in stronger than prior quarters and I’m not that frightened of refi risk (at least through November; 2019 may be different story). If so, that should clear some concerns. Plus would expect the $200m stub refi in November to be done and announced with/prior to earnings. Positive catalyst if happens.

    Full disclosure, again, I do it through options and I had a residual leg of a prior trade hanging around that helped me to effectively zero finance this trade with no downside unless the stock goes to 110. YMMV. Still, liked the stock setup enough to hop in.

  42. The Original NJ ExPat says:

    The way I read it, Warren has about half the amount of Native American ancestry as your average white guy.

    The correction note, appearing now at the bottom of the report, reveals that the ancestry percentage of a potential 10th generation relative is actually even lower than originally stated.

    The Globe initially reported that Warren has “strong evidence” of Native American heritage, stemming from six to 10 generations back, which would make her at minimum 1/512th (or .19 percent) Native American.

    However, the Globe acknowledged that the number actually doesn’t even reach the tenths place without rounding up.

    “Correction: Due to a math error, a story about Elizabeth Warren misstated the ancestry percentage of a potential 10th generation relative. It should be 1/1,024,” the Globe said in its correction. That would put the percentage at .097.

    To put this into perspective, the Republican National Committee shared a link to a 2014 New York Times article which discussed how the largest genetic profile study published at the time found in that European-Americans had genomes that on average held .18 percent Native American ancestry.

    https://www.washingtonexaminer.com/news/boston-globe-botches-math-in-big-elizabeth-warren-scoop-on-native-american-ancestry

  43. The Original NJ ExPat says:

    Executive Summary:

    European-Americans had genomes that on average held 0.18 percent Native American ancestry. Warren has 0.097 percent.

  44. The Original NJ ExPat says:

    Said another way, maybe in the early 1700’s one of Warren’s ancestors may have plowed a squaw. Who doesn’t have someone in their family like that?

  45. D-FENS says:

    “plowed a squaw”

    That would be a good commenter’s handle

  46. Fast Eddie (plowed a squaw) says:

    Lol!!

  47. The Original NJ ExPat says:

    CNN Reports Saudis Preparing to Admit Jamal Khashoggi Was Killed in ‘Interrogation Gone Wrong’

  48. The Original NJ ExPat says:

    I don’t see how anything could have gone wrong. After all, they brought in a professional 15 headcount interrogation crew. Too few?

  49. Grim says:

    He attacked the interrogators with deadly force and they had no option but to defend themselves.

  50. leftwing says:

    Only claim they can make to mitigate damage.

    ‘We didn’t do anything, don’t know where he is’ is not credible.

    An official regime sanctioned assassination is not an option. So……

    Leadership was unaware, rogue agents did it while trying to curry favor with Salman, ooops, our bad….sorry…..

    Lame. Lie. Only option.

  51. leftwing says:

    Next lie will be when they are asked to produce the body…recall it walked out in pieces in several briefcases…..

    “In accordance with our religious custom he was immediately interred and, as a sign of respect, in his homeland…”

    Lame. Lie. Only option.

  52. Grim says:

    They’ll be swiftly punished to the full extent of the law.

    What, you thought only Putin and the US could commmiy foreign assasinations?

  53. leftwing says:

    World stock indices are down substantially ex-US, Saudi exchange was off 7% today, no one (Saudis, US) wants $100 oil, no one (Saudis, US) wants sanctions particularly for arms

    That dictated what happened.

  54. leftwing says:

    “They’ll be swiftly punished to the full extent of the law.”

    LOL, yeah, someone caught a suicide pass there, literally.

  55. Grim says:

    Rogues and scoundrels

  56. Juice Box says:

    Bob Hugin has a new political commercial
    Gloves are off

    https://mobile.twitter.com/CalebJHull/status/1051881529767587840

  57. HEHEHE says:

    I always get a chuckle out of Trump’s Pocahontas cracks. He’s a nut but he can be funny as shit sometimes. Funny thing is Warren could have put an end to this shit years ago but decided to double, triple and quadruple down on what I’ll be kind and call a personal delusion.

  58. Blue Ribbon Teacher says:

    What’s funny is that they are flipping out over this “million dollar offer” that they claim he now owes her. It’s selective editing of the speech. 100% dishonest to the core.

    Listen to the whole thing and decide for yourself.

    https://www.youtube.com/watch?v=RwNlyiUy2Qk

  59. Mike S says:

    Hughin supported menendez in 2012. What a joke.

  60. leftwing says:

    “Bob Hugin has a new political commercial. Gloves are off”

    Outstanding.

    Now can we take a page out of the Blue playbook and get protesters to confront him in the Senate chamber and office building elevators yelling “how many little girls did you fcuk, Senator?”

  61. leftwing says:

    Very good article.

    90% of the posters here belong to the 6 or 8 percent.

    As do, without irony, the commentators on the Times article.

    https://www.nytimes.com/2018/10/15/opinion/politics-race-white-tribalism.html

  62. The Original NJ ExPat says:

    Nice!

    Ex

    Called TSLA yesterday, behaving funky in a good way. Up 17 points (6.5%) from yesterday v. market at 2.2%……

    Quick 38% gain for me overnight……..

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