Monthly Archives: December 2007

“The last time we had a housing slump…”

Posted on December 10, 2007 by grim

From the Record: Foreclosures spur bearish forecasts The nation’s home-foreclosure rate of 1.69 percent at the end of the third quarter was an all-time high, but New Jersey’s rate, at 1.56 percent, has been worse, the Mortgage Bankers Association said … Continue reading →

Posted in Housing Bubble, New Jersey Real Estate | Comments Off on “The last time we had a housing slump…”

UBS: Subprime Losses of $10b

Posted on December 10, 2007 by grim

From Bloomberg: UBS to Sell Stakes After $10 Billion in Writedowns UBS AG will write down U.S. subprime mortgage investments by $10 billion, the biggest such loss by a European bank, and replenish capital by selling stakes to investors in … Continue reading →

Posted in Economics, Housing Bubble, National Real Estate | 4 Comments

Weekend Open Discussion

Posted on December 6, 2007 by grim

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

Posted in General | 448 Comments

A global housing bubble bursting?

Posted on December 5, 2007 by grim

From Bloomberg: U.K. House Prices Decline, Worst Streak Since 1995 U.K. house prices fell for a third month in November, the worst performance in more than a decade, and services growth slowed, increasing speculation the Bank of England will cut … Continue reading →

Posted in Economics, Housing Bubble | 256 Comments

Remodel before selling?

Posted on December 5, 2007 by grim

From the Record: Curb appeal can pay dividends If you’re looking for improvements that can boost a home’s sale price, start with the outside. That was the finding in a recent Remodeling magazine survey. Though most home improvements don’t pay … Continue reading →

Posted in New Jersey Real Estate | 13 Comments

Pointing a finger at the street

Posted on December 5, 2007 by grim

From the WSJ: Wall Street Firms Are Subpoenaed New York Examines Treatment Of Debt Tied to Risky Mortgages By KARA SCANNELL December 5, 2007; Page C2 New York state prosecutors have sent subpoenas to several Wall Street firms seeking information … Continue reading →

Posted in Housing Bubble, National Real Estate, Risky Lending | Comments Off on Pointing a finger at the street

“People have to be responsible for their own actions”

Posted on December 4, 2007 by grim

From the WSJ: Some Cry Foul Over Relief Plan For Borrowers By SUDEEP REDDY, DOUGLAS BELKIN and JONATHAN KARP December 4, 2007; Page D1 The Bush administration’s plan to give subprime borrowers a break on their mortgages is already catching … Continue reading →

Posted in National Real Estate, Risky Lending | 245 Comments

North Jersey November Residential Sales

Posted on December 2, 2007 by grim

Preliminary November sales and inventory data for Northern New Jersey is in. Please note that this data is subject to revision. The first graph plots the unadjusted sales data (closed sales) for the counties listed. Please note the lower bound … Continue reading →

Posted in Economics, New Jersey Real Estate | 251 Comments

Weekend Open Discussion Part II

Posted on December 2, 2007 by grim

Due to the fact that threads become difficult to follow past the 500 comment mark, I’ve opened a new weekend discussion thread for the day. Enjoy!

Posted in General | 89 Comments

Weekend Open Discussion

Posted on December 1, 2007 by grim

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

Posted in General | 523 Comments

NJ subprime foreclosure rate above national average

Posted on December 1, 2007 by grim

From the Record: N.J. subprime woes worse than nation’s The Federal Reserve Bank of New York issued a report Friday that sheds light on the condition of subprime mortgages in New Jersey, and it’s not a pretty picture. Nine percent … Continue reading →

Posted in New Jersey Real Estate, Risky Lending | 3 Comments