Category Archives: National Real Estate

Zillow: Up, up, and away!

Posted on January 28, 2024 by grim

From Fortune: Zillow just raised its home price forecast, seeing a 3.7% jump in 2024, and it’s all because of ‘external factors’ Just as things had started looking up for the U.S. housing market, with mortgage rates dropping modestly, on Thursday Zillow revised … Continue reading →

Posted in Housing Bubble, National Real Estate | 59 Comments

Prices to fall in 2024?

Posted on January 21, 2024 by grim

From Fast Company: Fannie Mae expects U.S. home prices to rise in 2024; Morgan Stanley disagrees “When we published our year-end forecast, we were expecting [housing] affordability to improve. . . . If mortgage rates were to stay here that improvement … Continue reading →

Posted in Housing Bubble, Mortgages, National Real Estate | 78 Comments

Nobody selling, nobody buying

Posted on January 20, 2024 by grim

From PBS Newshour: U.S. existing home sales drop to near 30-year low Sales of previously occupied U.S. homes sank in 2023 to a nearly 30-year low as mortgage rates climbed to the highest level in more than two decades and … Continue reading →

Posted in Housing Bubble, National Real Estate | 10 Comments

Oh Shiitake

Posted on January 18, 2024 by grim

From Fast Company: Decoding the U.S. housing market: What Opendoor’s performance reveals about home prices At the edge of the sprawling desert community of North Las Vegas, the four-bedroom home at 7473 Moonglade Street epitomized the impact of the mortgage rate shock … Continue reading →

Posted in Economics, General, National Real Estate, Price Reduced | 68 Comments

Those were the days…

Posted on January 17, 2024 by grim

From Fox: This was the average cost of an American home in the decade you were born 1940 In 1940, without adjusting for inflation, the average cost of a home in the United States was $2,938, according to the United … Continue reading →

Posted in Demographics, Economics, Housing Bubble, National Real Estate | 61 Comments

Philly still hot

Posted on January 12, 2024 by grim

From the Philly Business Journal: Philadelphia-area home prices rose at fastest pace in December since spring 2022 The end of 2023 didn’t bring any relief in median home prices in Greater Philadelphia, with the year’s largest price spike coming in … Continue reading →

Posted in Housing Bubble, National Real Estate, New Jersey Real Estate, Philly | 72 Comments

“Drive till you qualify”

Posted on January 9, 2024 by grim

From Business Insider: Millennials are moving to ‘the most boring places in the world’ For nearly two decades millennials morphed dense, amenity-rich urban neighborhoods across America into exclusive playgrounds for the young and childless. Compared with Gen Xers and baby … Continue reading →

Posted in Crisis, Demographics, Economics, Housing Bubble, National Real Estate | 43 Comments

Buffalo is the place to be

Posted on January 8, 2024 by grim

From Buffalo Rising: Buffalo’s Real Estate Revolution: How It Became 2024’s Hottest Housing Market In the heart of the Great Lakes region, a remarkable transformation is unfolding. Buffalo, once overshadowed by larger cities, has surged to the forefront as the … Continue reading →

Posted in Demographics, Economics, Housing Bubble, National Real Estate | 52 Comments

What’s next year got in store?

Posted on December 30, 2023 by grim

From Bankrate: 2024 first-quarter housing trends: Rates begin to thaw “We typically see housing inventory remaining low until February and then ramping up from March onward,” says Lawrence Yun, chief economist for the National Association of Realtors. “Homebuying and open … Continue reading →

Posted in Economics, Housing Bubble, Housing Recovery, Mortgages, National Real Estate, Where's the Beef? | 40 Comments

Home prices rise at the fastest rate of the year

Posted on December 27, 2023 by grim

From CNN: US home prices hit another record high in October, rising for the ninth straight month US home prices continued to rise in October, hitting a new record high and marking the ninth-consecutive month of increases, according to data … Continue reading →

Posted in Housing Bubble, National Real Estate | 89 Comments

Out of reach … forever?

Posted on December 26, 2023 by grim

From NPR: Most homes for sale in 2023 were not affordable for a typical U.S. household If you found the U.S. housing market impossible this year you were not alone. In fact, you were in the vast majority, according to … Continue reading →

Posted in Demographics, Economics, Employment, National Real Estate | 57 Comments

Fitch – NJ is overpriced

Posted on December 22, 2023 by grim

From Fitch: Homes Prices Remain Overvalued in 88% of the U.S. Fitch Ratings-New York-20 December 2023: Fitch Ratings estimates that national home prices were 9.4% overvalued for 2Q2023 on a population-weighted average basis and expects overvaluation to remain elevated due … Continue reading →

Posted in Demographics, Economics, National Real Estate, New Jersey Real Estate | 90 Comments

Home sales tick up, slightly

Posted on December 21, 2023 by grim

From the Real Deal: Existing home sales rise for first time since May It was by no means a blizzard of activity, but existing home sales increased from October to November, ending a cold spell for the moribund U.S. market. Sales … Continue reading →

Posted in Demographics, Economics, Employment, National Real Estate | 61 Comments

Like the good ol’ days

Posted on December 18, 2023 by grim

From Business Insider: HENRYs are turning to a little-known and risky type of mortgage as home prices soar  With home prices and mortgage rates sky high, potential homeowners — even those with deep pockets — are looking for ways to ease the … Continue reading →

Posted in Economics, Employment, Housing Bubble, National Real Estate, NYC, Risky Lending | 112 Comments

Room to run

Posted on December 15, 2023 by grim

From Business Insider: The Fed brought some relief to the housing market The Federal Reserve’s forecast for easing monetary policy in 2024 fueled stocks to new highs, dragged bond yields lower, and sparked a fresh wave of exuberance across Wall Street.  … Continue reading →

Posted in Housing Bubble, Mortgages, National Real Estate | 97 Comments