Monthly Archives: January 2008

Weekend Open Discussion

Posted on January 25, 2008 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 | 299 Comments

Hair of the dog

Posted on January 25, 2008 by grim

From the Wall Street Journal: More Risk for Fannie, Freddie? One of the features of the economic stimulus package fashioned yesterday by Congress and the Bush administration would provide guarantees to more — and much larger — mortgages in an … Continue reading →

Posted in Housing Bubble, National Real Estate, Risky Lending | 2 Comments

Looking for solutions

Posted on January 25, 2008 by grim

From the Trenton Times: Opening up about mortgage worries The South Clinton Avenue resident faced losing her home after falling behind on her mortgage payments. Last week, Marcia, with the help of the Neighborhood Assistance Corp. of America (NACA), a … Continue reading →

Posted in Housing Bubble, National Real Estate, Risky Lending | 8 Comments

For the first time since the Great Depression, house prices fall nationally

Posted on January 24, 2008 by grim

From MarketWatch: Existing-home sales fall 2.2% to 4.89 million pace Median sales price of single-family homes falls in 2007 for 1st time in 40 years Resales of U.S. homes fell 2.2% in December to a seasonally adjusted annual rate of … Continue reading →

Posted in Economics, Housing Bubble, National Real Estate | 234 Comments

Just how bad could the recession be?

Posted on January 24, 2008 by grim

From CNN/Money: Recession 2008: How bad it can get The sputtering U.S. economy has gotten everyone from the financial markets to the Federal Reserve to Congress in a panic. But here’s a disheartening message for those already worried about economic … Continue reading →

Posted in Economics, Housing Bubble, National Real Estate | 139 Comments

The coming deluge

Posted on January 24, 2008 by grim

From Money Magazine: Housing bailout: winners and losers Luis and Kelly Madera have done everything they can to save their house. They refinanced most of the $550,000 they owed on a risky, adjustable-rate home loan to a conservative 30-year fixed-rate … Continue reading →

Posted in Housing Bubble, National Real Estate | 18 Comments

The next crisis?

Posted on January 24, 2008 by grim

From the NY Times: Next on the Worry List: Shaky Insurers of Bonds Even as stocks ended five days of losses with a surprising recovery on Wednesday, officials began moving to defuse another potential time bomb in the markets: the … Continue reading →

Posted in Economics, National Real Estate, Risky Lending | 12 Comments

“It’s time to move on.”

Posted on January 24, 2008 by grim

From the Record: Homes leveled in flood zone With a few strikes from demolition equipment, houses in Wayne’s flood-prone Hoffman Grove neighborhood quickly tumbled to the ground Wednesday in a $5.9 million project to get residents out of the flood … Continue reading →

Posted in New Jersey Real Estate | 1 Comment

Bernankian Economics

Posted on January 23, 2008 by grim

From Bloomberg: Bernanke Battles Wrong Ghost in Deflation Specter Ben Bernanke is spooked. That’s one explanation for the Federal Reserve chairman’s decision to lead the Open Market Committee in yesterday’s unprecedented 75-basis- point cut in the fed funds rate. The … Continue reading →

Posted in Economics, Housing Bubble, National Real Estate | 369 Comments

Cheaper cash for the qualified borrower

Posted on January 23, 2008 by grim

From the Wall Street Journal: Regulators’ Conundrum: How Much to Encourage Lending By DAMIAN PALETTA January 23, 2008; Page A23 The global credit crunch has created a quandary for federal regulators: They want bankers to lend money, but they also … Continue reading →

Posted in Housing Bubble, National Real Estate, Risky Lending | Comments Off on Cheaper cash for the qualified borrower

Is the suburb dead?

Posted on January 23, 2008 by grim

From Newsday: Long Islanders would trade houses for apartments A third of Long Islanders are willing to trade their detached houses and yards for high-density condominiums or apartments within walking distance from a vibrant community center, according to the annual … Continue reading →

Posted in National Real Estate, New Development | 6 Comments

Recession calls growing louder

Posted on January 22, 2008 by grim

From the WSJ: Fears of a Recession Spark a Global Selloff; New Pressure on the Fed By E.S. BROWNING in New York, ALISTAIR MACDONALD in London and JONATHAN CHENG in Hong Kong January 22, 2008; Page A1 A world-wide stock … Continue reading →

Posted in Economics, Housing Bubble, National Real Estate | 406 Comments

Overpaid? Sue your agent.

Posted on January 22, 2008 by grim

From the NY Times: Feeling Misled on Home Price, Buyers Are Suing Their Agent Marty Ummel feels she paid too much for her house. So do millions of other people who bought at the peak of the housing boom. What … Continue reading →

Posted in Housing Bubble, National Real Estate | 10 Comments

Weichert in panic mode

Posted on January 22, 2008 by grim

From NJBIZ: New Attempt at a Housing Turnaround Morris Plains-based home seller Weichert, Realtors is pushing for congressional support for a tax-credit plan it hopes will drive more people to buy homes, thereby reinvigorating both the housing market and the … Continue reading →

Posted in Economics, Housing Bubble, New Jersey Real Estate | 4 Comments

Housing debacle sets the stage for recession

Posted on January 21, 2008 by grim

From the Wall Street Journal: U.S. Warning Signs Point Toward a Deep Recession Housing Crunch, Squeeze on Consumers Exceed Earlier Slumps By JUSTIN LAHART January 21, 2008 The U.S. has suffered recessions only twice in the past quarter century and … Continue reading →

Posted in Economics, Housing Bubble, National Real Estate | 386 Comments