Monthly Archives: February 2008

Just Walk Away

Posted on February 6, 2008 by grim

From CNN/Money: Troubled homeowners: Can’t pay? Just walk away Mortgage payments are set to jump. Home prices have plunged. “I’m outta here.” Homeowners are abandoning their homes and, more importantly, their mortgages, rather than trying to keep up with rising … Continue reading →

Posted in Housing Bubble, National Real Estate, Risky Lending | 3 Comments

Buy now, pay later

Posted on February 5, 2008 by grim

From the New York Times: Economy Fitful, Americans Start to Pay as They Go For more than half a century, Americans have proved staggeringly resourceful at finding new ways to spend money. In the 1950s and ’60s, as credit cards … Continue reading →

Posted in Economics, Housing Bubble, National Real Estate | 322 Comments

Bankers and borrowers more cautious

Posted on February 5, 2008 by grim

From the Wall Street Journal: Credit Tightens, Demand Falls By KELLY EVANS and DAVID ENRICH February 5, 2008; Page A3 Banks are tightening lending standards for businesses and consumers — even beyond real-estate loans — and companies’ demand for credit … Continue reading →

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

Highlands “harder on some than others.”

Posted on February 5, 2008 by grim

From the Daily Record: Environmentalists push for changes to Highlands plan A dozen area environmental leaders during a news conference Monday called for changes in the proposed Highlands Regional Master Plan to address water deficits in the region. Julia Somers, … Continue reading →

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

Shutting the cash spigot

Posted on February 4, 2008 by grim

From Fortune: Home equity loan defaults soar One of the last sources of ready cash for homeowners looking to get money from their house appears to be shutting down and the results aren’t likely to be pretty for the economy. … Continue reading →

Posted in Housing Bubble, National Real Estate | 228 Comments

“Could this be a replay of the early 1990s?”

Posted on February 4, 2008 by grim

From the Wall Street Journal: Smaller Lenders Feeling Squeeze Of Credit Crunch By SCOTT PATTERSON February 4, 2008 The next phase of the financial crisis could be coming soon to a bank near you. The high-yield, or junk, bond markets … Continue reading →

Posted in Housing Bubble, National Real Estate, Risky Lending | 1 Comment

Weekend Open Discussion – Part II

Posted on February 3, 2008 by grim

Now Open, Part II! Prior weekend thread closed due to comment overflow. ————————————————————– Save the Date! We’ll be meeting up on Saturday, February 9th in Morristown NJ. 6pm Sharp! Grasshopper off the Green 41-43 Morris Street, Morristown NJ ————————————————————–

Posted in General | 169 Comments

Lowball! January 2008

Posted on February 3, 2008 by grim

Welcome to another edition of Lowball! Lowball! takes a look at home sales from a different perspective. For those new to Lowball!, a lowball offer is when a buyer offers a significantly lower bid than asking in hopes that the … Continue reading →

Posted in Lowball | 31 Comments

Look back at the late 80’s boom… and subsequent bust

Posted on February 3, 2008 by grim

Interesting piece in the NYT this morning covering the early 90’s real estate crash. A few years back I put together a compilation of stories from the NYT during this period that illustrated the similarities with the current boom, and … Continue reading →

Posted in Housing Bubble, National Real Estate | Comments Off on Look back at the late 80’s boom… and subsequent bust

Weekend Open Discussion

Posted on February 1, 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 | 389 Comments

Moody’s raises subprime loss expectations

Posted on February 1, 2008 by grim

From the Wall Street Journal: Subprime-Loan Losses Are Seen Expanding Moody’s Cites Weakness In Home-Price Outlook; Treasury Bonds Benefit By SERENA NG and DAVID REILLY February 1, 2008; Page C2 A worsening outlook for the housing market led Moody’s Investors … Continue reading →

Posted in Economics, Housing Bubble, National Real Estate | 3 Comments

Eminent domain, good or bad?

Posted on February 1, 2008 by grim

From the Asbury Park Press: Pros, cons of eminent domain debated A state Supreme Court decision last year that found municipalities must prove property is blighted before it can be seized for redevelopment has had a chilling effect on projects … Continue reading →

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