Monthly Archives: December 2006

The typical American home buyer can’t afford a home at today’s prices.

Posted on December 8, 2006 by grim

From Forbes: Yes, But Bet The House By a margin of almost 2-to-1, economists surveyed by WSJ.com last month judged that the worst of the residential real estate slump was history. House prices will soften in 2007, the sages predicted, … Continue reading →

Posted in Housing Bubble, National Real Estate | 118 Comments

It’s not just about prices

Posted on December 8, 2006 by grim

From Salon:

Posted in Housing Bubble, National Real Estate | 1 Comment

“If you own property in New Jersey, you are not immune from having the ownership of your land taken by force to preserve open space”

Posted on December 8, 2006 by grim

From the Philly Inquirer: Court upholds eminent domain In a decision highlighting the value of open space in the nation’s most densely populated state, the New Jersey Supreme Court ruled yesterday that Mount Laurel acted properly when it seized a … Continue reading →

Posted in New Development, New Jersey Real Estate | 20 Comments

Blame it on the boomers?

Posted on December 7, 2006 by grim

From the Courier Post Online: Baby boomers behind second-home sales surge Try this stat on for size: almost 40 percent of the homes sold in 2005 were second homes, eclipsing first-time homebuyers. That was one of the more startling figures … Continue reading →

Posted in Housing Bubble, New Jersey Real Estate | 173 Comments

Future’s so bright, I’ve got to wear shades

Posted on December 7, 2006 by grim

From the AP: Pew Poll: U.S. Homeowners Optimistic Recent broad declines in prices have slightly dented the outlook of U.S. homeowners, as a new poll published Wednesday shows they remain mostly optimistic about the value of their property. A nationwide … Continue reading →

Posted in Housing Bubble, National Real Estate | 22 Comments

Market clearly in a slump

Posted on December 7, 2006 by grim

From the Courier Post Online: Prices rise despite sales slowdown The overall real estate market in New Jersey and South Jersey hasn’t differed much from the shore market. The number of homes sold in both New Jersey and South Jersey … Continue reading →

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

I just saved a bundle on car insurance

Posted on December 7, 2006 by grim

From the Asbury Park Press: Car in$urance: N.J. still No. 1 The much-ballyhooed auto insurance reforms were heralded by former Gov. James McGreevey as the solution to New Jersey’s highest-in-the-nation rates when they were enacted three years ago. Seems the … Continue reading →

Posted in General | 10 Comments

A property tax cap for NJ?

Posted on December 6, 2006 by grim

From the Courier Post Online: Lawmakers craft property tax cap plan A proposal to limit annual property tax increases is in the works as lawmakers continue crafting ways to ease homeowners’ tax burdens. Senate Majority Leader Bernard Kenny Jr., D-Hudson, … Continue reading →

Posted in New Jersey Real Estate, Property Taxes | 32 Comments

Lessons of the past five real estate crashes have been forgotten

Posted on December 6, 2006 by grim

From the Washington Post: An Economic Pillar on the Verge of Collapse It’s been more than a year since we’ve heard from those who denied there was a housing bubble. Since then, the industry boosters, along with the “soft-landing” crowd … Continue reading →

Posted in Housing Bubble, National Real Estate | 166 Comments

Psychology often the best indicator of market

Posted on December 6, 2006 by grim

From the Jersey Journal: Realtors often best indicator of market When analysts want to take the temperature of the local real estate market, they look at loads of statistics like absorption rates and home sales to help determine whether it’s … Continue reading →

Posted in Housing Bubble, New Jersey Real Estate | 13 Comments

100k affordable homes

Posted on December 6, 2006 by grim

From the Courier Post Online: Corzine says he will make affordable housing a priority Affordable housing and health care were the major issues addressed Tuesday as Gov. Jon S. Corzine gave the keynote speech at the Anti-Poverty Network’s annual conference. … Continue reading →

Posted in Economics, New Jersey Real Estate | Comments Off on 100k affordable homes

NJ – “D for dog”

Posted on December 6, 2006 by grim

From the Asbury Park Press: Toll Bros. hints at floor in some housing areas Toll Bros. Inc., the largest U.S. builder of luxury homes, said Tuesday that the housing market may have reached bottom. “We may be seeing a floor … Continue reading →

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

Waiting for the market bottom

Posted on December 6, 2006 by grim

From the Star Telegram: Horton reins in, still strong Business stinks at the country’s biggest home builder, and the CEO says it may get worse next year. So why has D.R. Horton’s stock price climbed 20 percent in the past … Continue reading →

Posted in Housing Bubble, New Development | 3 Comments

Northern NJ Sales and Inventory

Posted on December 5, 2006 by grim

The long awaited Closed Sales vs. Inventory graph and dataset for Northern NJ. This data is based on GSMLS Active Inventory and Closed Sales for Bergen, Essex, Hudson, Morris, Passaic, Somerset, Sussex, Union and Warren counties. (click to enlarge) The … Continue reading →

Posted in New Jersey Real Estate | 189 Comments

Surge in mortgage delinquencies

Posted on December 5, 2006 by grim

From the Wall Street Journal: More Borrowers With Risky Loans Are Falling Behind (no link) Americans who have stretched themselves financially to buy a home or refinance a mortgage have been falling behind on their loan payments at an unexpectedly … Continue reading →

Posted in Housing Bubble, National Real Estate | 37 Comments