Monthly Archives: July 2006

Another worry to add to the list

From CBS: NE Hurricane Could Cripple Economy This month, the nation’s best hurricane experts met for the first time ever with nervous insurance industry reps about a storm lurking beyond the horizon. “The risk is increasing and it’s increasing every … Continue reading

Posted in General | 9 Comments

Dean Baker on Bubbles and Recessions

This piece, by Dean Baker of the Center for Economic and Policy Research, comes to us via The Coming Housing Crash All the economists who missed the stock bubble—this is almost all economists—are just about to be embarrassed again. … Continue reading

Posted in General | 35 Comments

Q2 Otteau Reports Available

The Otteau Reports are now available for the second quarter: The Otteau Report Shortcuts (PDF) & Highlights: Bergen Average Offerings/Monthly up to 1944 from 1587.7 in 2005 Average Sales/Monthly down to 945.7 from 1137.7 in 2005 Unsold Inventory up to … Continue reading

Posted in General | 40 Comments

June Otteau Report

The June Otteau Report has been published, courtesy of Jeffrey Otteau of the Otteau Group ( JUNE SALES DECLINE AS INVENTORY GROWTH SLOWS June is an important month for the residential real estate market as it represents the traditional end-point … Continue reading

Posted in General | 76 Comments

Home Prices Set To Fall

From The Business Online: Fears as US house prices to dip for the first time ever HOUSE prices are set to drop in the US for the first time on record, US investment bank Goldman Sachs warned this weekend. Prices … Continue reading

Posted in General | 8 Comments

Quit your job and live off the equity

From the NY Times: Men Not Working, and Not Wanting Just Any Job Alan Beggerow has stopped looking for work. Laid off as a steelworker at 48, he taught math for a while at a community college. But when that … Continue reading

Posted in General | 40 Comments

Slowing Market Worries Developers

From the AP: Developers nix or delay condo projects In a city cluttered with condominium construction, Old City 205 aspired to shine as an ultramodern residence for the well-heeled with its zinc and glass facade, loft-style homes and windows that … Continue reading

Posted in General | 17 Comments

San Diego – First to Boom, First to Bust

From Mercury News: San Diego median home price drops HOUSING BOOM STARTER FIRST TO SEE MARKET BEGIN TO FALL San Diego County kicked off California’s housing boom six years ago with dramatic price rises and became one of the nation’s … Continue reading

Posted in General | 10 Comments

Home Equity Piggy Bank

From Marketwatch: Many view equity in home as piggy bank The equity you build up in your home is not a retirement-savings account, although many Americans are tempted to think that it is. But the smartest way to think about … Continue reading

Posted in General | 7 Comments

Housing Bubble Fears Becoming Reality

From the NY Times: Many Homes Are on the Market and Sales Numbers Are Declining WHEN the American economy fell into recession five years ago, it was the strength of the housing market that kept the downturn short and mild. … Continue reading

Posted in General | 23 Comments

Sub-Prime Pipe Bomb

From the Daily Reckoning, by Bill Bonner: A Farewell to ARMs In the dream world of the early 21st century, there has never been a better business than the credit business. The credit merchants borrow at institutional rates lower than … Continue reading

Posted in General | 13 Comments

Long Island Rude Awakening

From the NY Times: Taking the Measure of the Market IN what may be a “rude awakening,” as one real estate agent put it, the number of Long Island homes being put up for sale, combined with those sitting on … Continue reading

Posted in General | 51 Comments

Renting Hot In NJ

From the NY Times: For Rent: The Hottest Form of Housing IN the eternal dance of developers responding to the rhythms of change, the belle of the ball is always changing. … “Condominium construction and conversion, particularly on the Gold … Continue reading

Posted in General | 6 Comments

Weekend Open Discussion

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

Posted in General | 62 Comments

Corzine’s Property Tax Proposals

From Bloomberg: New Jersey’s Corzine Offers Proposals to Lower Property Taxes New Jersey Governor Jon Corzine proposed asset sales, debt reduction and changes to the public- employee pension system as part of a plan to raise money to reduce the … Continue reading

Posted in General | 9 Comments