Category Archives: Economics

IRS closes SALT loophole

From Accounting Today: It’s over: States lose fight against SALT deduction cap New York, New Jersey and Connecticut have been fighting a new cap on state and local tax deductions ever since it was included in the 2017 Republican tax … Continue reading

Posted in Economics, New Jersey Real Estate, Politics, Property Taxes | 33 Comments

Train town prices go poof

From Bloomberg: NJ Transit Train Delays Hit a Record After the Governor’s Pledge to Fix Them New Jersey Transit commuter trains have hit their worst on-time and reliability records in the 18 months since Governor Phil Murphy promised to overhaul … Continue reading

Posted in Economics, New Jersey Real Estate, NYC, Politics | 69 Comments

Gettin risky with it

From HousingWire: FHA is increasing lending to riskier borrowers Citing rising risks among the mortgages it is backing, the Federal Housing Administration earlier this year announced that it was changing some of its lending rules to increase the prevalence of manual underwriting. The idea behind the … Continue reading

Posted in Economics, Housing Bubble, Mortgages, Risky Lending | 247 Comments

Flipping will never die

From MarketWatch: Home flipping rate hits 9-year high — and that could foretell troubles in the housing market Home-flipping has rebounded by one key measure. But that’s doesn’t make it an easy path toward becoming rich. Just over 49,000 single-family … Continue reading

Posted in Economics, Employment, National Real Estate, New Development | 34 Comments

All eyes on jobs

From CNBC: The May jobs report is coming and economic reports don’t get much more important than this one The economy was expected to have added a solid 180,000 jobs in May, but if the payroll number is much stronger … Continue reading

Posted in Economics, Employment, National Real Estate | 81 Comments

A new record for NYC

From the WSJ: Philip Falcone Sets NYC Record With Nearly $80 Million Townhouse Sale Former hedge-fund manager Philip Falcone has sold a New York townhouse for close to $80 million, making it the most expensive residential townhouse ever sold in … Continue reading

Posted in Comp Killer, Economics, Employment, NYC | 135 Comments

We go down now?

From Fortune: Average Home Values See First Monthly Drop in 7 Years In uncertain times, rising housing values have been one thing keeping our collective spirits up. But, as they say, nothing increases forever, and the U.S. real estate market … Continue reading

Posted in Demographics, Economics, Employment, Housing Bubble, Housing Recovery, National Real Estate | 86 Comments

Millennials jump in?

From CNBC: Many millennials say buying a home may finally be within reach Samantha Suckno says knew she wanted to start to build a life with her soon-to-be husband in a home they owned. So she and her fiance, Jason … Continue reading

Posted in Demographics, Economics, National Real Estate, New Jersey Real Estate | 143 Comments

What NJ Makes…

From the APP: NJ manufacturing jobs grow, but will parents let kids skip college? Aquatherm, a Lakewood manufacturer that makes solar heating systems for swimming pools, has no shortage of ideas that could help its business grow. Workers, on the … Continue reading

Posted in Economics, Employment, New Jersey Real Estate | 44 Comments

Rats leave sinking ship

From Bloomberg: Florida Is the Big Winner as the Wealthy Move Out of Northern States Roughly 5 million Americans move from one state to another annually and some states are clearly making out better than others. Florida and South Carolina … Continue reading

Posted in Demographics, Economics, Employment, New Jersey Real Estate | 15 Comments

Has Asbury made it?

From the NYT: Asbury Park, N.J.: A Seaside Community Reborn Carolyn Curtin moved to Asbury Park in 2002 and fell in love with a late Victorian house with a falling-down porch and heaven knows what other problems. She knew nothing … Continue reading

Posted in Economics, Housing Recovery, New Development, Shore Real Estate | 156 Comments

So absurd it needs to be reposted

From SportsTalk: Paterson, NJ Developers Think An Arena Can Help Save A Struggling Shopping Mall Sports as an economic generator in Paterson, NJ?  It doesn’t appear that any sports league is looking to put a team in Paterson, New Jersey. … Continue reading

Posted in Economics, New Development, New Jersey Real Estate, Politics | 98 Comments

What’s driving gross income tax increases?

From the Star Ledger: N.J. income taxes rolling in like never before. Now Dems will fight over what to do with all that extra cash.  New Jersey’s income tax collections came roaring back in April, surprising state leaders and cracking … Continue reading

Posted in Economics, Employment, Politics, Property Taxes | 63 Comments

Policy has repercussions

From ROI-NJ: GSI forum offers some ‘uncomfortable truths’ of doing business in N.J. State Sen. Declan O’Scanlon was measured in his tone but precise in his words. Speaking at Garden State Initiative’s second annual Economic Policy Forum on Thursday in New … Continue reading

Posted in Economics, Employment, New Development, New Jersey Real Estate, Politics | 52 Comments

Overhauled? Shut it down.

From the Star Ledger: The EDA gave tax breaks to a predatory lender, group says. That’s why the state agency needs to be overhauled. Last week, corporate whistleblower Kerrie-Ann Murray testified that her former employer falsified payroll paperwork to facilitate a … Continue reading

Posted in Economics, Employment, New Jersey Real Estate, Politics | 48 Comments