Monthly Archives: August 2006

From the New York Times: Redefining ‘Affordability’ for the 90’s By THOMAS J. LUECK Published: January 20, 1991 And for many homeowners, the gains in affordability are at best a mixed blessing. Millions who bought in the late 80’s, believing … Continue reading →

Some housing news from New York from Inman News: Buyer’s market emerges in New York Sales of existing single-family homes in New York fell by double digits between July 2005 and July 2006, while home-price growth slowed to a more … Continue reading →

From Bloomberg: U.S. July Personal Spending Rises 0.8%; Core Prices Up 0.1% Consumer spending in the U.S. rose 0.8 percent last month, the most since January, and a measure of inflation posted the smallest gain of the year. The rise … Continue reading →

From Bloomberg: Housing `Short Sales’ Are Latest Sign of Stress Housing headlines are dominating the news these days in the same way the Nasdaq did in the late 1990s. And no wonder. Successive years of sizzling sales and spectacular price … Continue reading →

From the New York Times: Fire in Subdivided Basement Kills Two in a New Jersey Home ENGLEWOOD, N.J., Aug. 30 — A four-alarm fire tore through a three-story wood house on James Street here on Wednesday, killing two residents who, … Continue reading →

From the New York Times: Decline Seen In Home Prices In New Jersey By ANTHONY DEPALMA, SPECIAL TO THE NEW YORK TIMES December 14th, 1989 The days of steeply climbing house prices are over, and the 1990’s could begin with … Continue reading →

GSMLS – http://www.gsmls.com (Garden State Multiple Listing Service) Single Family Homes, Condo, Coop (Bergen, Essex, Hudson, Morris, Passaic, Somerset, Sussex, Union, Warren Counties) 8/23 – 18,720 8/30 – 18,743 (0.1% Increase) NJMLS – http://www.njmls.com (New Jersey Multiple Listing Service) Single … Continue reading →

From the Bucks County Courier Times: Will regular guy bail as Wildwood upscales? They want to upscale Wildwood, which is like a fast-food joint putting out linen and hiring a wine steward. For nearly a century Wildwood has been the … Continue reading →

From the NY Times: Census Reports Slight Increase in ’05 Incomes The nation’s median household income rose slightly faster than inflation last year for the first time in six years, the Census Bureau reported yesterday. The rise, however, had little … Continue reading →

From The Motley Fool: No Housing Bust Here! I’m sure others have noticed, as I have, the increasingly desperate pleas from the housing-bubble cheerleaders, especially National Association of Realtors Chief Economist David Lereah. A longtime bubble denier — who, I … Continue reading →

From Forbes: End Of The Bubble Bailouts By A. Gary Shilling For a quarter-century, Americans’ spending binge has been fueled by a declining savings rate and increased borrowing. The savings rate of American consumers has fallen from 12% in the … Continue reading →

From NJBiz: NJ Affordable Homes Portfolio Going Up for Bankruptcy Auction Properties owned and controlled by bankrupt residential builder NJ Affordable Homes Corp. (NJAH) in Woodbridge will be put up for auction. Chicago real estate auction company Sheldon Good & … Continue reading →

Two big pieces of data out today, Consumer Confidence and the FOMC minutes. Consumer confidence came in under consensus estimates earlier this morning, FOMC minutes to be released at two: Consumer Confidence Plunges in August Worries about the job market … Continue reading →

Interesting response to this Star Ledger piece on relisting: Practice hides the real deal on homes for sale in Jersey Came across the response early this morning: The wrong location — Jeffrey Consentino, Hillsborough Nothing to hide As a full-time … Continue reading →

From the Otteau Group: SUMMER MARKET REMAINS COOL July was another cool month for the housing market as declining buyer-confidence continued to take its toll on home sales. In July, contract-sales activity declined 11% from the June level and was … Continue reading →