Category Archives: New Jersey Real Estate

What’s going on in Brick?

From the Shorebeat blog: Brick Has a Major Foreclosure Problem on Its Hands Brick Township’s foreclosure rate is nearly double the state average and five times as high as the national average, leading Brick officials to contract with a firm … Continue reading

Posted in Foreclosures, New Jersey Real Estate, Shore Real Estate | 78 Comments

Time to consolidate NJ

From the Star Ledger: I was the last mayor of Princeton Township: Consolidation works and we need to stop being afraid of it Consolidation of New Jersey municipalities — especially as it relates to school districts – can result in … Continue reading

Posted in Economics, New Jersey Real Estate, Politics | 56 Comments

Haven’t yet returned to bubble pricing

From the Star Ledger, hat tip Yo: Only these 2 N.J. towns have fully recovered since the housing crash It’s been more than a decade since housing prices in New Jersey began a seven-year slide highlighted by the Great Recession. … Continue reading

Posted in Housing Bubble, Housing Recovery, New Jersey Real Estate | 23 Comments

New Jersey has a serious problem

From the Star Ledger: Why paychecks in N.J. aren’t growing as fast as the rest of the U.S. New Jersey hit near rock bottom in wage growth last year as compared to the rest of the country, according to new … Continue reading

Posted in Demographics, Economics, Employment, New Jersey Real Estate | 43 Comments

So what’s this mean for Jersey?

From Bloomberg: Manhattan Homebuyers Demand Bargains, Walk Away—Anything But Overpay In his hunt for an apartment on Manhattan’s Upper West Side, Hal Walker found the perfect one-bedroom in an Art Deco building across from Central Park. It had languished on … Continue reading

Posted in Comp Killer, Economics, New Jersey Real Estate, NYC | 78 Comments

Murphy concedes to Sweeney, budget passes

From the Star Ledger: N.J. budget finally signed by Murphy after another really long day at the Statehouse It took far longer than anyone imagined on Sunday, but New Jersey finally has a state budget. The state Legislature put the … Continue reading

Posted in New Jersey Real Estate, Politics | 82 Comments

June MarketNews

From the Otteau Group: June MarketNews Home sales in New Jersey increased by 2% in the month of May compared to the same month last year, recording more than 12,200 purchase contracts in a single-month, setting an all-time record. As … Continue reading

Posted in Demographics, Economics, Housing Bubble, Housing Recovery, New Jersey Real Estate | 71 Comments

Shut it down

From the WSJ: New Jersey Faces Possible Government Shutdown A government shutdown is still looming in New Jersey after several days of budget negotiations between Gov. Phil Murphy and state lawmakers. The state government could close at midnight Sunday if … Continue reading

Posted in Economics, New Jersey Real Estate, Politics | 95 Comments

Showdown time

From the Star Ledger: Gov. Phil Murphy’s rosy scenario for economic growth is full of thorns Uh-oh. The governor’s got a new cliche. It’s “rosy scenario,” and Phil Murphy repeated it several times last week as he fought with his … Continue reading

Posted in Economics, New Jersey Real Estate, Politics | 89 Comments

Will you pay? Will I pay? Who will pay? No idea yet.

From the Star Ledger: Raise the sales tax? The business tax? Dueling Democratic budgets bring N.J. closer to a shutdown. Democrats who control the state Legislature on Monday announced they’ll introduce a $36.2 billion budget that would raise taxes on … Continue reading

Posted in Economics, New Jersey Real Estate, Politics | 157 Comments

Glimpse into the future: NJ coming for your house

What happens when NJ can’t afford to pay it’s own taxes anymore? Rampant (fraudulent?) mismanagement of assessments? Detroit offers a glimpse into what to come in NJ. From the Detroit News: Study: Bad assessments prompt 10K Detroit foreclosures One in … Continue reading

Posted in Economics, Foreclosures, New Jersey Real Estate, Politics, Property Taxes | 104 Comments

NJ not a place for startups

From WNYC: New Jersey Wants to Stake a Claim in the Innovation Economy New Jersey Governor Phil Murphy rarely misses an opportunity to point out the Garden State once was a hub for innovation — where Thomas Edison invented the … Continue reading

Posted in Demographics, Economics, Employment, New Development, New Jersey Real Estate | 228 Comments

Short term looking good for NJ, long term? Ummm…

From the APP: NJ jobs: Companies hiring, and this is why you’d better grab a job now New Jersey employers are recruiting aggressively to fill job openings, but clouds are beginning to build, which could force them to temper their … Continue reading

Posted in Demographics, Economics, Employment, New Jersey Real Estate | 103 Comments

Bankers not happy with Murphy

From NJBIZ: Bankers: Economy weakening under Murphy A majority of the state’s local bankers say New Jersey’s economy would worsen under policies proposed by Gov. Phil Murphy. In New Jersey Bankers Association’s annual survey on the economy, almost 69 percent … Continue reading

Posted in Economics, New Jersey Real Estate, Politics | 181 Comments

NJ Population Growth & Decline Visualized

From the Star Ledger:

Posted in Demographics, Economics, New Jersey Real Estate | 196 Comments