Category Archives: Economics

Another bubble?

From Forbes: Home Prices And Buyer Competition Hit New Highs in June U.S. home prices rose 7.3 percent to a median sale price of $298,000 in June, according to Redfin, the next-generation real estate brokerage. This is the highest national … Continue reading

Posted in Economics, Housing Bubble, National Real Estate | 40 Comments

Prices up in Westchester and the Lower Hudson Valley

From LoHud: Home prices in region rise as inventory drops, report finds Prices of single-family homes rose throughout the Lower Hudson Valley region in the second quarter, with the number of homes available for sale continuing to dwindle, according to … Continue reading

Posted in Demographics, Economics, Housing Recovery | 61 Comments

50 years later

From the Star Ledger: Race, riots and reputation: Has N.J.’s largest city recovered? To this day, you look at so many of the abandoned buildings, the light manufacturing, the old jewelry business, you walk around downtown, you still see the … Continue reading

Posted in Demographics, Economics, New Jersey Real Estate, Unrest | 75 Comments

The negative equity gap

From DSNews: Does Home Price or Location Impact Underwater Mortgages? In total, 1.8 million American homeowners currently owe more on their home loans than their property is worth. Though this is the first time the number has dropped below 2 … Continue reading

Posted in Demographics, Economics, National Real Estate | 92 Comments

NJ’s Non-gentrified Urban Future

A glimpse into what NJ’s urban future will look like. Ever increasing property taxes will create a situation where the urban poor can no longer afford to even pay their property taxes, leading to property tax foreclosures in massive numbers. … Continue reading

Posted in Demographics, Economics, Foreclosures, New Jersey Real Estate, Property Taxes | 25 Comments

Better by 2018? Not likely.

From NJ Spotlight: NEW JERSEY’S ECONOMIC OUTLOOK FOR 2018 IS SO-SO, ACCOUNTANTS SAY Despite New Jersey’s solid year of job growth in 2016, a recent survey of the state’s certified public accountants suggests few of them believe economic conditions will … Continue reading

Posted in Demographics, Economics, Employment, New Jersey Real Estate | 46 Comments

Price cuts move properties

From Bloomberg: Manhattan Home Sales Surge as Cuts Bring Prices to Buyers’ Level Manhattan homebuyers found deals they couldn’t refuse in the second quarter, driving up sales of previously owned properties by the most in more than two years. Purchases … Continue reading

Posted in Demographics, Economics, NYC | 31 Comments

No slow down in May

From CoreLogic: CoreLogic US Home Price Report Shows Prices Up 6.6 Percent in May 2017 CoreLogic® (NYSE: CLGX), a leading global property information, analytics and data-enabled solutions provider, today released its CoreLogic Home Price Index (HPI™) and HPI Forecast™ for … Continue reading

Posted in Demographics, Economics, Housing Recovery, National Real Estate | 41 Comments

So much for the summer job

From Time: Where Did America’s Summer Jobs Go? It’s not like the jobs aren’t there. The ice cream still needs scooping. A Tilt-a-Whirl doesn’t run itself. And that floppy, weirdly heavy rubber frog that somersaults toward the rotating lily pads? … Continue reading

Posted in Economics, Employment, National Real Estate, Shore Real Estate | 55 Comments

Time for Newark

From the Commercial Observer: Five Reasons to Pay Attention to Newark Of all the commuter cities west of the Hudson River, Newark, N.J., gets the least respect from real estate professionals. Some of the reasons for this are understandable; Newark … Continue reading

Posted in Demographics, Economics, New Development, New Jersey Real Estate | 50 Comments

Say it ain’t so

From the Washington Post: The McMansion, ultimate symbol of the pre-recession boom, is back If there’s anything that typifies the boom times before the Great Recession, it is the McMansion. These sprawling houses proliferated around the country in the 2000s, … Continue reading

Posted in Economics, Housing Recovery, National Real Estate, New Development | 67 Comments

May Otteau MarketNEWS

From Otteau Group: NJ Purchase Contracts Bounce Back in May After recording a 7% decline in April, home purchase contracts in New Jersey increased by 11% compared to the same month last year. Given the 9% increase during May of … Continue reading

Posted in Demographics, Economics, New Jersey Real Estate | 41 Comments

King of the hill, top of the heap.

From the Star Ledger: Recent college grads are leaving N.J. in record numbers. Here’s why. The bed is on an elevated bunk. Below the bed is a desk, dressed with items from college: clothes, books and accessories. The floor is … Continue reading

Posted in Demographics, Economics, New Jersey Real Estate, NYC | 52 Comments

Do so at your own peril

From the Record: Millennial generation shunning the suburbs for city life They want the bustle. They want the convenience. They want the diversity. In short, they want the city and not the suburbs – even after their children start school. … Continue reading

Posted in Demographics, Economics, New Development, New Jersey Real Estate | 77 Comments

May EHS exceeds expectations

From CNBC: Existing home sales hit 5.62 million units in May, vs. expectations of 5.57 million U.S. home resales unexpectedly rose in May to the third highest monthly level in a decade and a chronic inventory shortage pushed the median … Continue reading

Posted in Economics, Housing Recovery, National Real Estate | 75 Comments