Monthly Archives: June 2006

From the Asbury Park Press: Agent says claims against Dwek now top $310 million “Vacant land and underperforming commercial properties owned by Solomon Dwek should be put up for sale immediately, the court-appointed lawyer examining Dwek’s real estate empire recommended … Continue reading →

From the Daily Reckoning: The Greater Depression by Doug Casey “We don’t know what this portends, but yesterday Ben Bernanke slouched over to Congress. He must have worn lifts. For somehow, he managed to remind the world of old Paul … Continue reading →

From Reuters: Realtors see lower US home sales “The National Association of Realtors on Tuesday lowered its forecast for U.S. home sales in 2006 and called on the Federal Reserve to stop raising interest rates because parts of the housing … Continue reading →

Nothing that you didn’t already know from reading the blog yesterday. From the Herald/Record: Supply of unsold homes up 71 percent in a year across N.J. “Buying a house in New Jersey this spring? You’ve got a lot more choices … Continue reading →

Great piece over at Pimco by Mark Kiesel: U.S. Credit Perspectives “Three weeks ago my wife, Amy, and I sold our house and moved into a rental apartment. I believe the U.S. housing market is set to cool given the … Continue reading →

From the Daily Record: Developers questioned about Morristown housing “Developers appointed by the town to redevelop about half of Spring Street faced a string of tough questions from a crowd of about 100 at a Monday night meeting at Union … Continue reading →

SPRING MARKET STALLS EARLY “The New Jersey housing market took a sharp turn for the worse in April as contract-sales activity declined 11% from the prior month and ran 20% below the April 2005 level. At the same time, the … Continue reading →

I’m sure everyone here is going to be excited by the news that Joey’s will remain open, and is not going condo. Dust off that IROC, get some new muscle-tees, and spike that hair up high, because summer is comin’ … Continue reading →

From the AP via the Star Ledger: Longer-term mortgages offer more pitfalls than benefits By Eileen Powell “When it comes to home mortgages, some people are thinking really long term by taking 40-year or 45-year — or even 50-year — … Continue reading →

Observations about your local areas, comments on news stories or the New Jersey housing bubble, Open House reports, etc. If you have any questions you wanted to ask earlier in the week but never posted them up, let’s have them. … Continue reading →

From the AP: Building wave claims Jersey shore motels “The Lollipop and the StarLux. The Shalimar and the Caribbean. The Imperial 500 and the Tangiers.” “With garish neon signs, multicolored exteriors and sweeping deck overhangs, the ‘Doo Wop’ motels of … Continue reading →

From the Asbury Park Press: Real estate “bubble” might not be so thin “Those of us who are bears on the housing market may be growling needlessly when it comes to irrational exuberance in the hottest areas.” “Maybe we’re looking … Continue reading →

Welcome to another edition of Price Reduced! For all the newcomers to this blog, Price Reduced! takes a look at a handful of significant price reductions across Northern NJ. The purpose of this exercise is to serve as proof that … Continue reading →

From the NY Times: Bringing Life to a Factory Graveyard “Now in its 200th year of existence, Orange recently adopted a sweeping master plan for development that would sharply increase the number of homeowners within its boundaries and remake a … Continue reading →

From the AP: Payroll growth stalls with 75,000 new jobs “Job growth faltered in May, with employers boosting payrolls by just 75,000. Yet the nation’s unemployment rate dipped to 4.6 percent, the lowest since the summer of 2001.” “The latest … Continue reading →