Monthly Archives: September 2006

Do borrowers understand the risks of nontraditional loans?

Posted on September 20, 2006 by grim

(updated) From Marketwatch: Exotic mortgages sow confusion, senators told Homeowners don’t fully understand the risks associated with taking on alternative mortgages that allow interest-only payments or negative amortization, federal officials told senators Wednesday. At a hearing on so-called exotic mortgages … Continue reading →

Posted in Housing Bubble, Risky Lending | 5 Comments

Home Equity Slowdown

Posted on September 20, 2006 by grim

From CEPR: Dwindling Home Equity Threatens Growth Homeowners took on mortgage debt at an $820.4 billion annual rate in the second quarter, down from the $864.4 billion annual rate in the first quarter, according to data in the Federal Reserve … Continue reading →

Posted in Economics, Housing Bubble | Comments Off on Home Equity Slowdown

Mortgage Purchase Applications Drop, Refinancing Rises

Posted on September 20, 2006 by grim

From Marketwatch: Refinancing filings soar to eight-month high The number of applications for loans to refinance existing mortgages increased last week to the highest level since early February, the Mortgage Bankers Association reported Wednesday. And overall, mortgage applications filed with … Continue reading →

Posted in Economics, National Real Estate | 2 Comments

Bubble burst? No problem.

Posted on September 20, 2006 by grim

From the Philadelphia Inquirer: The housing bubble has popped, but most need not worry Local boosters can call it a lull, or a pause, or anything else that sounds soothing. The fact remains that the Great Housing Boom of the … Continue reading →

Posted in Economics, Housing Bubble | 1 Comment

“Sex offender-free zone”?

Posted on September 19, 2006 by grim

From the Record: Fair Lawn may restrict areas open to sex offenders Registered sex offenders will have a limited choice of where they can live in the borough, if a proposed ordinance intended to restrict them from interacting with children … Continue reading →

Posted in North Jersey Real Estate, Politics | 8 Comments

Fold, Call or Raise?

Posted on September 19, 2006 by grim

From the Reuters: What the Fed is considering at its Sept meeting U.S. inflation appears to have decelerated since the last Federal Reserve meeting, convincing investors the central bank will opt to keep rates steady again on Wednesday. While prices … Continue reading →

Posted in Economics | 10 Comments

Property Tax Circuit Breakers

Posted on September 19, 2006 by grim

From Newsday: Lawmakers mull limiting taxes based on income, property Beleaguered New Jersey property tax payers could get a break under a plan being considered by lawmakers to limit property taxes to a percentage of their household income or by … Continue reading →

Posted in Politics, Property Taxes | 10 Comments

Crunch Time

Posted on September 19, 2006 by grim

From NJBiz.com: Crunch Time for the State For years New Jersey has won kudos for successfully marketing itself as summer’s ideal vacation spot with its “New Jersey and You” campaign, and for using its “Jersey Fresh” promotions to remind people … Continue reading →

Posted in Economics, Politics | 18 Comments

PMI: >50% Chance of home price declines

Posted on September 19, 2006 by grim

From the PMI Group: PMI’s Fall 2006 Risk Index Reflects Anticipated Housing Market Slowdown Rapidly slowing appreciation and declining affordability contributed to a marked increase in the risk of home price declines in cities across the country, PMI Mortgage Insurance … Continue reading →

Posted in Economics, Housing Bubble | 17 Comments

Welcome to the new home of the Northern NJ Bubble Blog!

Posted on September 19, 2006 by grim

Hold on! Don’t go! If you are looking for the Northern New Jersey Real Estate Bubble Blog, you are in the right place This blog and it’s readership have grown tremendously over the past year. This tool is no longer … Continue reading →

Posted in General | 32 Comments

Housing Starts Hit 3 Year Low

Posted on September 19, 2006 by grim

From Bloomberg: U.S. August Housing Starts Decrease 6% to a 1.665 Million Pace Housing construction in the U.S. declined more than forecast last month to the lowest level in three years as waning demand left builders with a growing number … Continue reading →

Posted in Economics | 3 Comments

“Nest egg made of 2-by-4s”

Posted on September 19, 2006 by grim

From BusinessWeek: Can Wall Street Withstand Weak Housing? If your nest egg is made of 2-by-4s and you’re watching the real estate slowdown with a mixture of fear and nausea, then this article is for you. The question: If real … Continue reading →

Posted in Economics, Housing Bubble | 14 Comments

Hedging the value of your home

Posted on September 19, 2006 by grim

From Time: A New Hedge For Your House If all the jabbering about a weakening housing market has made you glum at the prospect of your own home’s losing value, then has the Chicago Mercantile Exchange got a portfolio addition … Continue reading →

Posted in Economics | 24 Comments

Hottest markets declining rapidly?

Posted on September 19, 2006 by grim

From the NY Daily News: Troubles mounting in housing market Cracks are continuing to develop in the once-booming housing market. Homebuilder optimism sank for the eighth straight month in September to the lowest level in more than 15 years, as … Continue reading →

Posted in Housing Bubble | 6 Comments

Koolhas Loft for JC

Posted on September 19, 2006 by grim

From the New York Times: Loft Project in Jersey City Attracts a Big Name Only a decade ago, the 13-block warehouse district near the waterfront here was little more than a tumbledown assemblage of buildings. Over the years, it had … Continue reading →

Posted in North Jersey Real Estate | 7 Comments