Monthly Archives: October 2006

Is “Affordable Housing” an Oxymoron?

Posted on October 21, 2006 by grim

From Newsday: A new word in housing: affordable BY RANDI F. MARSHALL A silver lining in the housing downturn emerged Thursday, as more than 100 real estate professionals gathered for a regional real estate conference. With home prices dipping in … Continue reading →

Posted in Economics, National Real Estate | 8 Comments

New style of housing for the ‘burbs

Posted on October 21, 2006 by grim

From the New York Times: Not for Nuclear Families Only By ANTOINETTE MARTIN LIKE many older suburbs that grew up fast during the baby-boom years, Livingston evolved as a homogeneous place offering a lifestyle for families: a detached home with … Continue reading →

Posted in New Development, New Jersey Real Estate | 36 Comments

Middle Class Squeeze

Posted on October 21, 2006 by grim

From MSN Money: Middle class living on the edge? By Debora Vrana The middle class today is less prepared for an economic emergency, such as losing a job or visiting an emergency room, than at any time since the late … Continue reading →

Posted in Economics, General | 4 Comments

“Sellers living in last year’s market, buyers living in the future.”

Posted on October 20, 2006 by grim

From Newsday: Signs of the times BY ELLEN YAN Winter is coming, and Long Island builder Steven Klar feels the chill from the buying market. He doesn’t relish safeguarding unsold homes over the winter, paying for snow removal and heating … Continue reading →

Posted in Housing Bubble, National Real Estate | 68 Comments

Why are high income families leaving?

Posted on October 20, 2006 by grim

From the Daily Record: GOP leader says higher-income families fleeing BY MICHAEL DAIGLE The drive to build affordable housing in the richest section of the state is hampered by the state’s highest-in-the nation property taxes, Senate Minority Leader Leonard Lance, … Continue reading →

Posted in Economics, New Jersey Real Estate | 58 Comments

A “potent cocktail of easy money and exotic mortgages”

Posted on October 20, 2006 by grim

From MoneyWeek: Why reckless use of credit will cause financial disaster Man greatly extended his domain by learning to consume energy he did not create. In financial terms, he has accomplished a similar thing. He has learned how to consume … Continue reading →

Posted in Housing Bubble, Risky Lending | 22 Comments

The “Garden” State

Posted on October 20, 2006 by grim

From the Gloucester Times: Local journalist tracks future of N.J. farming By Jessica Beym As housing developments sprout on farms and silos turn into smokestacks, Jerseyans are left to wonder: Can New Jersey still proudly bear the title of the … Continue reading →

Posted in Economics, North Jersey Real Estate | Comments Off on The “Garden” State

Kara banruptcy “has left creditors and clients in a quandry”

Posted on October 20, 2006 by grim

From the Suburban: Builder’s bankruptcy raises questions in O.B. BY MARLENE CANTY Kara Homes, the developer of two township communities, has left creditors and clients in a quandary as to whether the builder will meet its contractual obligations. The East … Continue reading →

Posted in Housing Bubble, New Jersey Real Estate | 6 Comments

Rebuilding Camden

Posted on October 20, 2006 by grim

From the Philly Inquirer: So much spent, still so far to go By Dwight Ott New Jersey taxpayers have bet $114 million on Camden’s recovery. But four years into the state’s ambitious plan to revive the struggling city, progress has … Continue reading →

Posted in Politics, South Jersey Real Estate | 27 Comments

Shore market not immune to slowdown

Posted on October 19, 2006 by grim

From the Asbury Park Press: A SLOWDOWN BY THE SEA? BY DAVID P. WILLIS A boom in townhouse and condominium construction has been a vital part of oceanfront redevelopment in the city, but the market here is not immune from … Continue reading →

Posted in Housing Bubble, Shore Real Estate | 38 Comments

Pedophile-free Zones

Posted on October 19, 2006 by grim

From the Courier Post Online: Towns stand by offender bans By TIM ZATZARINY JR. A municipal ordinance that restricts where convicted sex offenders may live is designed to withstand court challenges like the one it’s about to face, Mayor David … Continue reading →

Posted in General, New Jersey Real Estate | 51 Comments

Price Reduced 10/1 – 10/15

Posted on October 18, 2006 by grim

Welcome to another edition of Price Reduced! For all the newcomers to the site, Price Reduced! takes a look at a handful of significant price reductions across Northern NJ. The purpose of this exercise is to serve as evidence that … Continue reading →

Posted in New Jersey Real Estate | 69 Comments

North Jersey Weekly Inventory Update

Posted on October 18, 2006 by grim

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) 10/11 – 19,084 10/18 – 19,035 (0.3% Decrease) NJMLS – http://www.njmls.com (New Jersey Multiple Listing Service) Single … Continue reading →

Posted in North Jersey Real Estate | 18 Comments

“Realtors are in for a very tough road”

Posted on October 18, 2006 by grim

From Inman News: Some housing markets in for short-lived correction The housing market in some parts of the country has slipped into a short correction that’s not expected to be as severe as past downturns but strong enough to challenge … Continue reading →

Posted in National Real Estate | 10 Comments

When will demand come back?

Posted on October 18, 2006 by grim

From Newsday: As housing bubble collapses, developers and sellers cut prices, await deals and pray for a rally in ’07 BY RANDI F. MARSHALL Two months ago, Chuck Davis finished building a new three-bedroom, two-bath ranch in Shirley, and he … Continue reading →

Posted in Housing Bubble, National Real Estate | 125 Comments