Monthly Archives: September 2006

From Reuters: KB warns, Hovnanian quarterly earnings fall A rapidly deteriorating U.S. housing market prompted KB Home to cut its forecast on Wednesday and luxury home builder Hovnanian Enterprises Incto report earnings and orders that fell for the second straight … Continue reading →

From SmartMoney: What Now for Real Estate? SEPT. 11 TRIGGERED a chain of events that fueled the biggest real estate boom in American history. To be fair, the foundation was already set. After the technology bubble popped in 2000, investors … Continue reading →

From the AP via the Morris Daily Record: NJ economic growth rate lowest in 5 years Economic growth in New Jersey has declined to its slowest rate in nearly five years, hobbled by increasing initial unemployment claims and falling housing … 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) 8/30 – 18,743 9/6 – 18,687 (0.3% Decrease) NJMLS – http://www.njmls.com (New Jersey Multiple Listing Service) Single … Continue reading →

The Federal Reserve released the September Beige Book this afternoon. The full report can be found here: Summary of Commentary on Current Economic Conditions Second District–New York Economic activity in the Second District has shown signs of decelerating since the … Continue reading →

From the Record: N.J.’s post-9/11 boom has abated Five years ago, after the Twin Towers fell, New Jersey seemed the logical landing place for many of the displaced companies. It happened — for a short while. American Express, Merrill Lynch, … Continue reading →

From the NY Times: Home Prices Fall in Nearly One-Fourth of Metropolitan Regions Prices of traditional single-family dwellings fell in 87 of the nation’s 379 major metropolitan areas from the first quarter to the second, the government reported yesterday, as … Continue reading →

From Newsday NY: Democrats push to end special treatment for poor, urban schools Lawmakers plan to develop a new school funding formula that ends special treatment for poor, urban schools, two Democrats said Tuesday as legislators continued debating how to … Continue reading →

Preliminary August sales data for Northern New Jersey is in.. The first graph plots the unadjusted sales data (closed sales) for the counties listed. Please note the lower bound of the graph, it is set to 1000, not to zero. … Continue reading →

Preliminary August sales data for Northern New Jersey is in.. The first graph plots the unadjusted sales data (closed sales) for the counties listed. Please note the lower bound of the graph, it is set to 1000, not to zero. … Continue reading →

From OFHEO: HOUSE PRICE APPRECIATION SLOWS (PDF) U.S. home prices continued to rise in the second quarter of this year but the rate of increase fell sharply. Home prices were 10.06 percent higher in the second quarter of 2006 than … Continue reading →

From the IHT/NY Times: America’s housing slump With economic signals flashing that America’s housing boom is over, speculation has now turned to how deep the slump will be and how long it will last, with predictions ranging from a smooth … Continue reading →

From the Express Times: Valley’s space to grow lures companies Beth Gorin’s journey from northern New Jersey to the Lehigh Valley is a microcosm of a bigger picture. Hailing from the hustle-bustle of Bergen County’s fast-moving suburbs, the new head … Continue reading →

From RealtyTimes: Housing Market On The Ropes A flurry of economic reports unleashed in August left the national housing market reeling and on the ropes as it headed into the final round of what is typically the heavy buying season. … Continue reading →

From the Record: Lou’s on first, but never lived in Wayne Did Paterson native Lou Costello build the white stucco Spanish-style villa that’s for sale on Hamburg Turnpike in Wayne? The real estate agent who listed the house at $870,000 … Continue reading →