Monthly Archives: December 2006

“If we don’t do it by Feb. 1, shame on us”

Posted on December 18, 2006 by grim

From the Trentonian: Tax reform stumbles amid Dems infighting New Jersey Democrats have once again met the enemy — and it is them. This time, feuding among Democrats who control state government threatens their promise to tackle what residents continually … Continue reading →

Posted in Politics, Property Taxes | 9 Comments

Casinos in Philly?

Posted on December 18, 2006 by grim

From the Philly Inquirer: On Wednesday, slots move into realm of reality The prospect of casinos in Philadelphia has been looming for so long, since Gov. Rendell signed a law legalizing slot machines on July 2004, that it has almost … Continue reading →

Posted in General | Comments Off on Casinos in Philly?

“We got away from the basics.”

Posted on December 17, 2006 by grim

From Newsday: Roof caving in on some owners “There’s the theory that everyone should have a home and everyone should have the opportunity,” said Marian D. Reid, a senior fair housing investigator at Long Island Housing Services. “But not everybody … Continue reading →

Posted in Housing Bubble, National Real Estate | 4 Comments

Weekend Open Discussion

Posted on December 17, 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 | 219 Comments

“It seems un-American to say this, but not every person should own a home,”

Posted on December 17, 2006 by grim

From the Record: Exotic loans carry big risks David Moro and his wife stretched their budget to the limit when they bought their center-hall colonial in 2003. They took out an interest-only loan, which keeps the payments low for the … Continue reading →

Posted in New Jersey Real Estate | 21 Comments

“Some things, like human psychology, never change.”

Posted on December 16, 2006 by grim

From Elliot Wave: Un-Real Estate Owning a home is proving to be a false dream for many who relied on false wealth to borrow one. Our collective journey from adventurous, carefree embrace of risk, to fearful, cautious regulation is following … Continue reading →

Posted in Housing Bubble, National Real Estate | 7 Comments

Are cities the new suburbs?

Posted on December 16, 2006 by grim

From the New York Times: In Housing Contest, Cities Take the Lead IF the residential real estate market were a competitive sport, the two contenders in the 2006 Big Game would be the Suburban Single-Family Home team versus the Urban … Continue reading →

Posted in New Development, New Jersey Real Estate | 1 Comment

So just what causes home price declines?

Posted on December 15, 2006 by grim

I came across this wonderful little piece by RealtyTimes editor Blanche Evans this morning, it’s entitled “What Causes Housing Price Declines?” It’s a rather amazing piece, she really digs very deeply into the underlying causes and dynamics of home price … Continue reading →

Posted in General | 62 Comments

“I would be a fool to purchase a house right now”

Posted on December 15, 2006 by grim

From the Times Standard: Boom sparks ‘rent vs. own’ debate What makes better sense in the current housing market? It used to be the case that buying a house was an investment opportunity that appreciates like a fine wine — … Continue reading →

Posted in Housing Bubble, National Real Estate | 21 Comments

Reassessing affordable housing

Posted on December 15, 2006 by grim

From the Home News Tribune: Affordable-housing much needed in N.J. The dismal word that nearly 500,000 New Jerseyans cannot afford even a modest apartment is one more alarm in a series of warnings that state policymakers must reassess affordable-housing programs … Continue reading →

Posted in Economics, New Jersey Real Estate | 13 Comments

NJ economic performance “far from stellar”

Posted on December 14, 2006 by grim

From the Asbury Park Press: Rutgers economist sees troubled N.J. economy Rutgers University planning expert James W. Hughes added his voice Wednesday to a growing chorus of business and political leaders who are offering bleak predictions for next year’s state … Continue reading →

Posted in Economics, New Jersey Real Estate | 78 Comments

Are falling prices bringing back buyers?

Posted on December 14, 2006 by grim

From the Wall Street Journal: First-Timers Begin Looking At Houses Again High home prices have helped drive many first-time buyers out of the housing market. Now, with prices falling in many areas, there are some signs that buyers are beginning … Continue reading →

Posted in Housing Bubble, National Real Estate | 43 Comments

Solomon Dwek liquidation continues

Posted on December 14, 2006 by grim

From the Asbury Park Press: Judge orders sold nine properties of failed real estate mogul Solomon Dwek Solomon Dwek’s creditors came a little bit closer to getting their money back Wednesday. Eight of the failed real estate mogul’s properties, and … Continue reading →

Posted in New Jersey Real Estate | 16 Comments

Q3 Delinquencies Rise

Posted on December 13, 2006 by grim

From MarketWatch: Mortgage delinquencies jump U.S. homeowners had a harder time keeping up with their mortgage payments in the third quarter, the Mortgage Bankers Association said Wednesday, with the delinquency rate rising to 4.67% from 4.39% in the second quarter. … Continue reading →

Posted in Economics, National Real Estate | 38 Comments

Out of Reach 2006

Posted on December 13, 2006 by grim

From the National Low Income Housing Coalition: Out of Reach 2006 Out of Reach 2006 compares the Housing Wage to local wage and income levels for every county, metropolitan area and state in the country. The Housing Wage is the … Continue reading →

Posted in Economics, New Jersey Real Estate | 81 Comments