Monthly Archives: May 2006

May FOMC Minutes

The FOMC Minutes are out! Minutes of the Federal Open Market Committee – May 10, 2006 “The underlying pace of residential activity seemed to moderate in the first quarter. After unseasonably warm weather allowed a high level of single-family housing … Continue reading

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Northern New Jersey Weekly Inventory Update

GSMLS – (Garden State Multiple Listing Service) Single Family Homes, Condo, Coop (Bergen, Essex, Hudson, Morris, Passaic, Somerset, Sussex, Union, Warren Counties) 5/24 – 17,138 5/31 – 17,345 (1.3% Weekly Increase) NJMLS – (New Jersey Multiple Listing Service) … Continue reading

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Mortgage Applications Drop 1.9% – Index Hits 4 Year Lows

From Reuters: US home loan demand falls as interest rates climb By Julie Haviv “U.S. mortgage applications fell last week, reflecting a decline in home refinancing loans as interest rates climbed, an industry trade group said on Wednesday.” “The Mortgage … Continue reading

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Confidence Falls – Fewer Buying Homes

From Bloomberg: U.S. Economy: Confidence Fell By Most Since September “Rising energy prices drove U.S. consumer confidence down in May by the most in eight months, pointing to weaker spending and economic growth in the second half of the year.” … Continue reading

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Sharks, Vultures, or White Knights?

From the Wall Street Journal: Slower Home Sales Open Up a Market For Some Investors By JAMES R. HAGERTY “The cooling market for real estate brought Michael Termine and Uso Mbanefo together.” “Mr. Mbanefo, a 43-year-old entrepreneur struggling to launch … Continue reading

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Morris Freeholder Candidate Housing Views

From the Daily Record: Freeholder candidates take stand on housing BY MICHAEL DAIGLE “The Housing Alliance of Morris County asked the 13 freeholder candidates on the June 6 primary ballot to explain their positions on affordable housing. Ten replied.” “”They … Continue reading

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Analogies Abroad

From the Wall Street Journal: Overseas Analogies By JUSTIN LAHART “Ever since the U.S. housing slowdown became apparent last year, investors have cast a wistful eye toward the United Kingdom, hoping its soft landing will be a prelude to a … Continue reading

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Anti-McMansion Rules Shot Down In Westfield

From the Suburban News: Rough reception for new development rules By ANNA BOGDANOWICZ “After hearing overwhelming opposition from local residents, including numerous members of the real estate industry, the Planning Board last week unanimously recommended that the Town Council not … Continue reading

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Is Density The Answer?

From the Asbury Park Press: High-density communities replacing pricey sprawl BY JOE RIGGS (FYI: Joe Riggs is affiliated with K. Hovnanian) “Picture this: You’re in a newly built village where you meet your neighbors as you walk down the street … Continue reading

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“People don’t believe in the laws of supply and demand anymore”

From Barrons: The Big Glut By ROBIN GOLDWYN BLUMENTHAL “IT WOULD SEEM TO HAVE IT ALL: four bedrooms, a guest house, a pool and a rock waterfall. But the vacation home in Naples, Fla., hasn’t been drawing much interest from … Continue reading

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“If I were you, I’d rent for a while”

From the Daily Reckoning: Homeless By Eric J. Fry “Ben Bernanke and Alan Greenspan both agree that the housing boom is over and that it will begin an “orderly” decline. We agree that the housing boom is over and that … Continue reading

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Buyers Market? No. Sellers Market? No.

From the Palm Beach Post: It’s a renter’s market By Barbara Marshall “This spring, Michelle Lewis and Rudolph Maragh of West Palm Beach were preparing to buy a condo when they took one last look at the local housing market.” … Continue reading

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High Taxes Will Send Owners Packing

From The Record/Herald: Assessing the damage By MARGARET K. COLLINS “PEQUANNOCK — Property owners here are finding out that when it comes to what their holdings are worth — and taxed — there’s just no predicting the effect of real-estate … Continue reading

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N.J. – Third Worst Drivers

(some humor for this weekend) From the Daily Record: Rules of the road: Few driving geniuses in N.J. Reading about the study ranking New Jersey 48th in the nation for driving knowledge, my first reaction was amusement. Yet another thing … Continue reading

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Ground Rules

I’m going to keep it short and to the point. Personal attacks, inflammatory comments, and off-topic arguments will not be tolerated. Take these discussions off-line. Foul language, racist, sexist, or any other defamatory remarks will not be tolerated. Messages that … Continue reading

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