Monthly Archives: October 2006

Nevada raiding Jersey jobs

Posted on October 8, 2006 by grim

From the Asbury Park Press: Nevada ready to take jobs away from New Jersey Just as Jersey politicians make another run at creating a unified state research university, comes word the mess they’ve already made could render any such effort … Continue reading →

Posted in Economics, General | 16 Comments

New Jersey must change

Posted on October 8, 2006 by grim

From the Courier Post Online: Living costs in N.J. have gotten out of hand It’s high property taxes that make New Jersey the most expensive place in America to own a home. If New Jersey’s state lawmakers don’t do something … Continue reading →

Posted in Housing Bubble, New Jersey Real Estate, Politics | 15 Comments

618 units approved in JC

Posted on October 8, 2006 by grim

From the Jersey City Reporter: Planning Board approves two Downtown buildings The Planning Board at its Tuesday meeting approved the construction of a a 269-unit, 436-foot high tower at the foot of Second Street overlooking the Hudson River, and 349-unit … Continue reading →

Posted in New Development, New Jersey Real Estate | Comments Off on 618 units approved in JC

Liberty Harbor Revisited

Posted on October 7, 2006 by grim

From the New York Times: A Patchwork Project, by Design By ANTOINETTE MARTIN IF his plans hadn’t been thwarted two decades ago, said Peter Mocco, the developer of the massive Liberty Harbor community rising adjacent to two historic neighborhoods here, … Continue reading →

Posted in New Development, New Jersey Real Estate | 7 Comments

It’s only when the tide goes out that you learn who’s been swimming naked

Posted on October 7, 2006 by grim

From the Asbury Park Press: Bankruptcy is met with uncertainty BY MICHAEL L. DIAMOND AND DAVID P. WILLIS Kara Homes’ bankruptcy filing has left scores of customers and creditors wondering if the troubled builder is going to complete the developments … Continue reading →

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

Real Estate Bubble Poster Child

Posted on October 7, 2006 by grim

From the SF Gate: A would-be real estate mogul follows boom tips straight to bust Real estate, also a world where appearances often trump content, operates according to a similar couching of reality. “Putting together” a loan package, for instance, … Continue reading →

Posted in Housing Bubble, Humor | 48 Comments

Hovnanian backs out of Princeton development

Posted on October 6, 2006 by grim

From the Princeton Packet: Developer backs off senior housing project on Princeton Ridge A national residential developer has backed out of its plan to build 140 age-restricted housing units along the Princeton Ridge — a proposal that was approved by … Continue reading →

Posted in New Jersey Real Estate | 1 Comment

State questions risky loans

Posted on October 6, 2006 by grim

From the Record: Mortgage risks worry regulators By RICHARD NEWMAN Banking regulators are increasingly concerned about consumers’ ability to withstand payment shock when rates go up on adjustable-rate mortgages. Regulators also fear that borrowers may not have been adequately informed … Continue reading →

Posted in New Jersey Real Estate, Risky Lending | 23 Comments

The shift away from asset appreciation

Posted on October 6, 2006 by grim

From MoneyWeek: Could the US consumer slowdown rebalance the world economy? By Stephen Roach, global economist at Morgan Stanley Long the engine of global consumption, the American consumer should retrench in a post-property-bubble climate. While this could take a cyclical … Continue reading →

Posted in Economics | 11 Comments

Significant tax reductions coming?

Posted on October 5, 2006 by grim

From the Daily Record: Poll: NJ taxpayers doubt relief is coming BY TOM HESTER JR. As an influential senator today supported cutting the nation’s highest property taxes by restricting how much property value is taxed, a new poll found most … Continue reading →

Posted in New Jersey Real Estate, Politics, Property Taxes | 6 Comments

New Jersey expansion slowing

Posted on October 5, 2006 by grim

From the FDIC: New Jersey State Profile – Fall 2006 The economic expansion in New Jersey is slowing. New Jersey’s employment growth eased during first half 2006, reaching 0.9 percent in the second quarter and lagging the U.S. average of … Continue reading →

Posted in Economics, New Jersey Real Estate | 29 Comments

Is it different this time?

Posted on October 5, 2006 by grim

From MoneyWeek: How the US became a bubble economy Dr Kurt Richebacher What is the difference between those housing bubbles of the 1970s and the late 1980s and the US housing bubble of today? There are four decisive differences. Why … Continue reading →

Posted in Housing Bubble, National Real Estate | 75 Comments

Kara Homes anticipates bankruptcy filing

Posted on October 5, 2006 by grim

From the Absury Park Press: Kara Homes anticipates filing for bankruptcy East Brunswick builder Kara Homes Inc., one of the biggest home builders in Monmouth and Ocean counties, anticipates filing for Chapter 11 bankruptcy, a company official said in a … Continue reading →

Posted in General | 38 Comments

Buyers sit out

Posted on October 5, 2006 by grim

From the Wall Street Journal: The Shifting Calculus Of Buying a House By JAMES R. HAGERTY and ANJALI ATHAVALEY Home buyers have another reason to sit on their hands. In the latest news from the slumping U.S. housing market, a … Continue reading →

Posted in Housing Bubble, National Real Estate | 17 Comments

Camden Gentrification

Posted on October 5, 2006 by grim

From the Philadelphia Inquirer: Condo developer bullish on Camden By Dwight Ott Philadelphia region housing starts are sagging, condo projects have stalled, and Camden is taking hits in the news again. None of it dents developer Carl Dranoff’s optimism. He’s … Continue reading →

Posted in New Development, South Jersey Real Estate | 41 Comments