Monthly Archives: September 2006

From Reuters: Lawmakers to probe housing “bubble,” mortgages U.S. lawmakers will question some leading government and industry economists about the perils of a possible ‘housing bubble’ in a Wednesday hearing. Lawmakers wanted the session “because we’ve heard a great deal … Continue reading →

From Bloomberg (No Link): New Jersey, Running Pension Deficit, Tackles Double Dipping As a municipal court judge in Asbury Park, New Jersey, Mark T. Apostolou spends two days a week settling traffic summonses and disorderly conduct offenses. For that, he … Continue reading →

From The New York Sun: Real Estate Recession Coming Some realtors and economists now argue that the decline in home prices will be modest and is nearly complete. They are very likely to be mistaken. This decline is just beginning … Continue reading →

From the Daily Record: Jury to decide what’s in a name A Morris County jury is expected to begin deciding today whether a real estate agent’s description of a new home as being in Montville constitutes fraud because the new … Continue reading →

From Courier News: Franklin residents seeing red over taxes Some residents of Franklin’s age-restricted communities think their homes are assessed too frequently and that errors by the township assessor led to unfairly high assessments. While complaints about property taxes are … Continue reading →

From the Economist: Checking the thermostat Property prices are cooling fast in America, but heating up elsewhere HOUSES are not just places to live in; they are increasingly important to whole economies, which is why The Economist started publishing global … Continue reading →

From TheStreet.com: Housing Rises in Terror’s Wake When the Twin Towers fell on Sept. 11, 2001, a glowing symbol of American capitalism was destroyed. Just a few months later, Americans were already talking about a new symbol of the nation’s … Continue reading →

From the Daily Record: Debts render many hopeless It seems that we have an epidemic on our hands. Recently, Reed Fraasa, a Certified Financial Planner in Riverdale, encountered several new clients who struck him as being at the ends of … Continue reading →

From the Record: Xanadu’s likely savior takes risks, reaps rewards Just a few weeks ago, Meadowlands Xanadu was looking like another wreck on the turnpike. Years behind schedule, the ballyhooed retail/entertainment attraction was just a steel skeleton sitting forlornly in … Continue reading →

From the New York Post: GIMME SHELTER The real-estate bubble appears to be bursting, or at least deflating, for Eddie Murphy’s “Bubble Hill” property in New Jersey. The comedian, who originally listed the nearby Englewood Cliffs property for $30 million … Continue reading →

From the Associated Press via Newsday: New Jerseyans without schoolchildren: Why should we fund schools? George Rogozin’s three children have finished public school, but the 78-year-old East Greenwich man still watches much of his taxes go to educate children _ … Continue reading →

Thought this piece from the LA Times was interesting. Since the North Jersey news is rather light this Sunday, I decided to include it. Buyers play wait and see “As much as you read and hear about it, it was … Continue reading →

From the Express Times: Builder to begin homes project Developer K. Hovnanian Enterprises had expected to start construction on a 101-home Hunter’s Brook complex off Willow Grove Street more than three years ago. The major homebuilder is now ready to … Continue reading →

From the Asbury Park Press: Falling home sales, rising jobless rate could be a double whammy for economy WHEN THERE ARE MORE “home for sale” than “help wanted” signs, the U.S. economy may be mired in recession. Most gauges are … Continue reading →

From the New York Times Key Magazine: The Immigration Equation It’s often said that immigrants do the jobs Americans don’t want to do. They’ve just been assigned another task: Buy the homes of the baby boom generation. But this task … Continue reading →