Category Archives: Politics

2010 – Lowest property tax increases since 1992

Posted on January 9, 2012 by grim
Posted in New Jersey Real Estate, Politics, Property Taxes | 135 Comments

From the Star Ledger: Special Report: Did N.J. property tax reform help most taxpayers? New Jersey homeowners paid an average of 2.4 percent more for property taxes in 2011, the smallest increase in nearly two decades, showing Gov. Chris Christie’s … Continue reading →

Farmland assessment must be fixed

Posted on December 2, 2011 by grim
Posted in New Jersey Real Estate, Politics, Property Taxes | 202 Comments

The fix is simple, adjust the $500 minimum requirement (in 1964 dollars) for inflation, and ensure it adjusts for inflation every year going forward. $500 was a significant sum … in 1964 when the original law was passed. Had the … Continue reading →

Princetons to merge – A new trend for NJ?

Posted on November 9, 2011 by grim
Posted in Economics, New Jersey Real Estate, Politics | 190 Comments

From Bloomberg: Two Princeton Towns in New Jersey Vote in Favor of Consolidation Voters in the two New Jersey towns that share the Princeton name with the Ivy League university approved a ballot measure to merge. The proposal to combine … Continue reading →

Support for O’s housing bailout already waining

Posted on September 13, 2011 by grim
Posted in Economics, National Real Estate, Politics | 128 Comments

From CNBC: ‘Friction’ in Obama’s Refi Proposal The response to President Obama’s recent proposal to refinance more borrowers into lower interest rate mortgages was at best underwhelming and at worst scathing. The plan would expand the government’s so-far disappointing, Home … Continue reading →

The cost of open space

Posted on March 14, 2011 by grim
Posted in New Jersey Real Estate, Politics, Property Taxes | 219 Comments

From the Star Ledger: In many N.J. towns that undergo revaluations, homeowners end up paying more open space taxes In the nation’s most densely populated state, Garden State residents value their space. But they may not be so thrilled about … Continue reading →

How many bailouts need to fail before they realize it won’t work?

Posted on March 9, 2011 by grim
Posted in Employment, Housing Bubble, National Real Estate, Politics | 87 Comments

From CNBC: More Borrowers Underwater: Why We Should Care Falling home prices at the turn of the year pushed more borrowers into a negative equity position, meaning they owe more on their mortgages than their homes are worth. In Q4, … Continue reading →

Goodbye 30 year?

Posted on March 4, 2011 by grim
Posted in Employment, Mortgages, National Real Estate, Politics | 187 Comments

From the NY Times (Hat tip Shore): Without Loan Giants, 30-Year Mortgage May Fade Away How might home buying change if the federal government shuts down the housing finance giants Fannie Mae and Freddie Mac? The 30-year fixed-rate mortgage loan, … Continue reading →

No more mortgage interest deduction?

Posted on February 15, 2011 by grim
Posted in Employment, National Real Estate, Politics | 115 Comments

From HousingWire: Mortgage interest tax deduction may be in danger President Obama’s 2012 budget proposes an across-the-board 30% cut to itemized deductions for high-income taxpayers. This includes the mortgage interest tax deduction. Currently, interest on a mortgage taken out to … Continue reading →

Sell Hamptons, buy LBI, and move your pied-a-terre to Hoboken

Posted on February 11, 2011 by grim
Posted in Economics, New Jersey Real Estate, Politics | 141 Comments

From the WSJ: Out-of-State Owners Could Face Tax Bill Connecticut and New Jersey residents with a Hamptons summer cottage or a Manhattan pied-a-terre are about to get a nasty surprise: New York state wants more taxes from them. A New … Continue reading →

No easy choices for Paterson (The shape of things to come?)

Posted on February 4, 2011 by grim
Posted in Economics, New Jersey Real Estate, Politics, Property Taxes | 107 Comments

From the Record (Hat tip Gator!): Paterson officials will argue to limit tax increase City officials will travel to Trenton on Monday to plead their case for a lighter municipal tax increase. The state Department of Community Affairs, which must … Continue reading →

Calls to scrap failed HAMP program grow louder

Posted on January 27, 2011 by grim
Posted in Foreclosures, National Real Estate, Politics, Risky Lending | 161 Comments

From USA Today: Inspector general: Mortgage modification program a ‘failure’ A mortgage modification program aimed at saving homeowners from foreclosure has failed because regulators are “afraid to rein in or impose penalties on the mortgage servicers” whose record “has been … Continue reading →

Property tax rebates coming back, but can we afford them?

Posted on January 25, 2011 by grim
Posted in New Jersey Real Estate, Politics, Property Taxes | 37 Comments

From the Star Ledger: Gov. Christie says he will restore N.J. property tax rebates Gov. Chris Christie said today he will restore property tax rebates that were eliminated in the budget last year. “We’re going to reinstitute the rebate this … Continue reading →

This won’t end well

Posted on January 22, 2011 by grim
Posted in Mortgages, National Real Estate, Politics | 80 Comments

From the NY Times: Banks Want Pieces of Fannie-Freddie Pie As the Obama administration prepares a report on the future of Fannie Mae and Freddie Mac, some of the nation’s largest banks are offering a few suggestions. Wells Fargo and … Continue reading →

Settlement in the works for NJ robosigners

Posted on January 19, 2011 by grim
Posted in Mortgages, New Jersey Real Estate, Politics | 150 Comments

From the NY Post: NJ judge OKs talks for ‘robo-sign’ banks The nation’s six largest mortgage lenders — chastised by a New Jersey judge last month for shoddy foreclosure practices and threatened with the freezing of thousands of foreclosure actions … Continue reading →

Two and a half thousand billion? Oh bother.

Posted on January 18, 2011 by grim
Posted in Economics, National Real Estate, Politics | 117 Comments

From Financial Times: States Warned of $2 Trillion Pensions Shortfall US public pensions face a shortfall of $2,500 billion that will force state and local governments to sell assets and make deep cuts to services, according to the former chairman … Continue reading →