Category Archives: Economics

NY Metro Rents Skyrocket

From the Record: Rents are skyrocketing. This report breaks down just how much Housing prices just don’t seem to be letting up. In February, rentals saw the largest increase in price nationwide in more than a year, according to Rent.com’s … Continue reading

Posted in Demographics, Economics, Employment, Housing Bubble, New Jersey Real Estate, NYC | 87 Comments

Commergeddon

From the WSJ: America’s Office Fire Sale Has Barely Begun If offices are in such hot water, where are all the forced sellers? Office-building owners have been under pressure since the Covid-19 pandemic hollowed out their buildings in early 2020. According to data … Continue reading

Posted in Demographics, Economics, Employment, Housing Bubble, National Real Estate | 36 Comments

Even AI wants to live in NJ

From ROINJ: CBRE: New Jersey data centers find AI operators are dominant occupiers of space Strong demand for data center space during the second half of 2023 resulted in a new all-time low vacancy rate for the New York tri-state region, … Continue reading

Posted in Economics, New Development, New Jersey Real Estate | 102 Comments

Thanks Mom and Dad!

From Coldwell Banker: 2024 Consumer Survey Key Findings – March 2024 Over a quarter (26%) of surveyed consumers have not provided or do not plan to provide financial support for their child(ren)’s first home, compared to 38% who said they … Continue reading

Posted in Demographics, Economics, Mortgages, National Real Estate | 103 Comments

Unexpected demand for Gold Coast rentals

From NorthJersey.com: Short-term rental demand rose in New Jersey after Airbnb restrictions in New York City It’s been just about six months since New York City placed major restrictions on short-term rental properties like Airbnb — and North Jersey is … Continue reading

Posted in Economics, Gold Coast, New Jersey Real Estate | 88 Comments

Jobs Day!

From the WSJ: Jobs Report Today: What to Watch Investors’ eyes are on the jobs report today. February’s jobs data are due at 8:30 a.m. ET. Economists expect that hiring cooled from January. A softer labor market could translate into … Continue reading

Posted in Demographics, Economics, Housing Bubble | 144 Comments

This is the top 20?

From NJ1015: The top 10 hottest towns in New Jersey to buy a home

Posted in Economics, Housing Bubble, New Jersey Real Estate, Where's the Beef? | 33 Comments

Spring has sprung

From NorthJersey.com: Real estate update: Is North Jersey finally seeing more housing inventory? In February, 19 of New Jersey’s 21 counties saw an increase in new listings over January. Additionally, 12 New Jersey counties saw more new listings this year than … Continue reading

Posted in Demographics, Economics, Housing Bubble, New Jersey Real Estate | 141 Comments

Boomers back on top

From Philadelphia Magazine: Boomers Are Downsizing — and Dominating Philly’s Real Estate Market Take a walk through the Laurel, the recently completed luxury condo tower at Rittenhouse Square’s northwest corner, and you might mistake it for a retirement community. When you … Continue reading

Posted in Demographics, Economics, Employment, Housing Bubble, National Real Estate | 83 Comments

NJ rents only up 2.3%?

From the Bergen Record: Here’s what rent prices look like in NJ, and the US, at the start of 2024 As home prices have continued to soar and mortgage rates remain high, many would-be first-time buyers are opting to stay … Continue reading

Posted in Demographics, Economics, Employment, Housing Bubble, New Jersey Real Estate | 66 Comments

Huh?

From the LA Times: Forget California exodus. New Jersey residents lead an influx back into the Golden State  After a half decade of Californians moving to places like Texas and Florida, an unlikely state has been supplying California with new … Continue reading

Posted in Demographics, Economics, National Real Estate, New Jersey Real Estate, Where's the Beef? | 16 Comments

All Hail Prince and Princess Snowflake

From the Guardian: Millennials on course to become ‘richest generation in history’ Millennials may have been portrayed as frivolous spenders squandering their income on overpriced coffees and online barre classes in the face of pitiful long-term finances – but they … Continue reading

Posted in Demographics, Economics, National Real Estate | 58 Comments

Taxes Up!

From News12: Gov. Murphy seek $55.9B New Jersey budget, increasing education aid, boosting biz taxes to fund transit Gov. Phil Murphy on Tuesday unveiled a $55.9 billion budget, up about 5% over his previous year’s proposal, calling for nearly $1 … Continue reading

Posted in Economics, New Jersey Real Estate, Politics, Property Taxes | 97 Comments

NYC may see it’s glory days again

Hat tip to 3b for the Fortune doom loop article: The ‘prophet of urban doom’ says New York City is in major trouble, and it’s just the first inning of the ballgame: ‘The cycle is out of control’ As nicknames … Continue reading

Posted in Crisis, Demographics, Economics, Employment, Housing Bubble, NYC | 101 Comments

What if rates don’t come down?

From Newsweek: Housing Market Update: Home Prices Reach Troubling Milestone Insufficient supply of homes in the market is pushing up prices, Wells Fargo economists said, making it tougher for Americans to afford a home amid elevated mortgage rates. The median sale … Continue reading

Posted in Demographics, Economics, Housing Bubble, Mortgages, National Real Estate | 46 Comments