Monthly Archives: October 2006

Starts up, permits at 5-year low

Posted on October 18, 2006 by grim

From Marketwatch: Housing starts jump to 4-month high U.S. home builders broke ground on more new homes in September, but took out the fewest building permits in five years, the government said Wednesday. New construction of homes unexpectedly increased 5.9% … Continue reading →

Posted in Economics | 50 Comments

JC Redevelopment through Eminent Domain

Posted on October 18, 2006 by grim

From the Jersey Journal: The ‘new’ Journal Square takes another step forward By KEN THORBOURNE Within 30 days, two buildings standing in the way of a two-tower development in the heart of Journal Square in Jersey City will be seized … Continue reading →

Posted in New Development, New Jersey Real Estate | 11 Comments

Same position as we were 5 years ago

Posted on October 18, 2006 by grim

From the Courier Post Online: N.J. economy growing, but at moderate pace By JEANNE RIDGWAY The consensus is that South Jersey’s economy is growing at a fair pace and not much change is expected in the next six months, according … Continue reading →

Posted in Economics | 4 Comments

Has the decline bottomed or is it just beginning?

Posted on October 17, 2006 by grim

From the New York Sun: Housing Correction Just Getting Started By Liz Peek Don’t get relaxed about the housing industry, because it’s going to get much, much worse. That’s the message from Gary Gordon at Annaly Capital Management, a firm … Continue reading →

Posted in Housing Bubble, National Real Estate | 130 Comments

Jobs Increased in New Jersey by 3,000 in September Unemployment Rate Down to 5.2 Percent

Posted on October 17, 2006 by grim

From the NJ Department of Labor and Workforce Development: Jobs Increased in New Jersey by 3,000 in September Unemployment Rate Down to 5.2 Percent New Jersey saw its unemployment rate drop slightly in September and added 3,000 jobs over the … Continue reading →

Posted in Economics | 13 Comments

Demand for farmland

Posted on October 17, 2006 by grim

From the Trenton Times: Farmland auction attracting interest BY LISA RICH The rolling pastures nestled between dense woods on Bayberry Road will be sold at auction Oct. 27, but developers need not bid. In a state better known for its … Continue reading →

Posted in New Jersey Real Estate | 1 Comment

Tarragon moves forward on NJ projects

Posted on October 16, 2006 by grim

From the Commercial Property News: Tarragon Moving Ahead on 3 Projects Totalling $590M Despite the declining housing market, New York City-based homebuilding firm Tarragon Corp. has announced progress on three projects: a $115 million mixed-use project with townhouses, condos, and … Continue reading →

Posted in New Development, New Jersey Real Estate | 18 Comments

New bankrupcy laws “designed to make life miserable for anybody who owes money”

Posted on October 16, 2006 by grim

From the AP via the Star Ledger: Bankruptcy laws thin ranks of filers The ranks of people seeking to erase their debts have thinned noticeably in the year since the biggest changes in U.S. bankruptcy laws in a quarter-century took … Continue reading →

Posted in General | 12 Comments

“This is the worst speculative bubble in residential housing that we’ve had.”

Posted on October 16, 2006 by grim

From Inman News: Real estate turns from economic crutch to splinter By Glenn Roberts Jr. For several years during the blazing real estate boom, the big question focused on when it would end. And now that the boom has leapt … Continue reading →

Posted in Housing Bubble, National Real Estate | 81 Comments

Somerset Landfill redevelopment

Posted on October 16, 2006 by grim

From the Courier News: Hundreds of housing units set for landfill The Landfill Redevelopment Committee will present its vision for the former borough landfill to borough officials at 10 a.m. Saturday in the Somerset County Court House jurors room. The … Continue reading →

Posted in North Jersey Real Estate | 3 Comments

Psychological effects of the popping bubble

Posted on October 16, 2006 by grim

Some news from Canada, from the London Free Press: Monitoring the U.S. slowdown By Stephen S. Poloz Everybody agrees that the American economy is slowing, but by how much? Are we looking at a nice, soft landing, a bumpy landing, … Continue reading →

Posted in Economics, Housing Bubble | 3 Comments

High taxes driving residents out

Posted on October 16, 2006 by grim

From the Times Trenton: CALLING TOWN CENTER HOME BY LISA RICH It’s been five years since the first homeowners moved into the award-winning Town Center — a development touted for smart growth and preservation of open space. But amongst the … Continue reading →

Posted in New Jersey Real Estate | 30 Comments

Weekend Open Discussion

Posted on October 15, 2006 by grim

This is the time and place to post observations about your local areas, comments on news stories or the New Jersey housing bubble, open house reports, etc. If you have any questions you wanted to ask earlier in the week … Continue reading →

Posted in General | 79 Comments

Lowball! 10/1 – 10/15

Posted on October 15, 2006 by grim

Welcome to another edition of Lowball! Lowball! takes a look at home sales from a different perspective. For those new to Lowball!, a lowball offer is when a buyer offers a significantly lower bid than asking in hopes that the … Continue reading →

Posted in Lowball | 56 Comments

Bank failures on the horizon?

Posted on October 15, 2006 by grim

From the Home News Tribune: Banks on shaky ground By JASON METHOD When Kara Homes filed for bankruptcy this month, Amboy National Bank of Old Bridge was listed as the largest creditor with $58.2 million in loans. When local real … Continue reading →

Posted in Housing Bubble, Property Taxes | 22 Comments