Monthly Archives: March 2008

Weekend Open Discussion – Part II

Posted on March 9, 2008 by grim

Now Open, Part II! Prior weekend thread closed due to comment overflow.

Posted in General | 107 Comments

Weekend Open Discussion

Posted on March 7, 2008 by grim

Server Crash! Lost some memory, followed by a fried motherboard. Not to worry, the techs tell me she’s back up and runnin’ like never before. This is the time and place to post observations about your local areas, comments on … Continue reading →

Posted in General | 341 Comments

No, really, is there any good news?

Posted on March 7, 2008 by grim

From the Wall Street Journal: Housing, Bank Troubles Deepen Foreclosures Reach A New Record; Home Equity Falls By SUDEEP REDDY and SARA MURRAY March 7, 2008; Page A1 Two crucial barometers of the nation’s housing market have worsened markedly in … Continue reading →

Posted in Economics, Housing Bubble, National Real Estate | 5 Comments

New loan limits announced

Posted on March 6, 2008 by grim

From the Wall Street Journal: Fannie, Freddie Loan Limits Raised For More Than 70 U.S. Counties By SARA MURRAY March 6, 2008 4:04 p.m. More than 70 counties across the U.S. will see limits for mortgage loans backed by Fannie … Continue reading →

Posted in National Real Estate | 66 Comments

Can we even call them homeowners?

Posted on March 6, 2008 by grim

From the Associated Press: Homeowner Equity Is Lowest Since 1945 Americans’ percentage of equity in their homes fell below 50 percent for the first time on record since 1945, the Federal Reserve said Thursday. Homeowners’ portion of equity slipped to … Continue reading →

Posted in Economics, Housing Bubble, National Real Estate | 84 Comments

Any good news?

Posted on March 6, 2008 by grim

From the Philly Inquirer: New Fed snapshot shows a weakening economy The U.S. economy has weakened since the start of this year as shoppers turned more cautious given the severe housing slump and painful credit crunch, according to a government … Continue reading →

Posted in Economics, New Jersey Real Estate | 187 Comments

Honky Tonk Badonkadonk

Posted on March 6, 2008 by grim

From Bloomberg: Corzine Spoils Manhattan View for New Jersey With Ferris Wheel Don’t expect residents of Bergen County, New Jersey, to be first in line for a ride on the Ferris wheel going up in their backyards, the tallest in … Continue reading →

Posted in New Development, New Jersey Real Estate | 22 Comments

March Beige Book

Posted on March 5, 2008 by grim

From the Federal Reserve: Summary of Commentary on Current Economic Conditions SECOND DISTRICT–NEW YORK Second District’s economy has softened since the last report. Manufacturers report substantial weakening in business activity as of mid-February. Port activity is also reported to be … Continue reading →

Posted in Economics, National Real Estate | 26 Comments

“If you don’t sell to us, who are you going to sell to?”

Posted on March 5, 2008 by grim

From the Wall Street Journal: Blacklisting Hits Home Sellers By DAWN WOTAPKA and MARSHALL ECKBLAD March 5, 2008; Page B5A In the nation’s worst-hit real-estate markets, home sellers are suffering a new blow: They are being blacklisted by lenders. As … Continue reading →

Posted in Housing Bubble, National Real Estate, Risky Lending | 383 Comments

“And the problem is getting worse.”

Posted on March 5, 2008 by grim

From the Record: Commercial developers offer grim outlook New Jersey’s commercial real estate community believes the state is an unfriendly place for business, to the point that companies are going to Pennsylvania rather than pay the proposed toll-road increases and … Continue reading →

Posted in Economics, New Jersey Real Estate | 4 Comments

Alt-A loans continue to deteriorate

Posted on March 4, 2008 by grim

From MarketWatch: Troubles emerge in alt-A loans as delinquencies ratchet up The other shoe just dropped in the U.S. mortgage market. In the last month, pressure has intensified around mortgage securities made up of so-called Alt-A loans, fueling concerns that … Continue reading →

Posted in Housing Bubble, National Real Estate, Risky Lending | 343 Comments

Putting an end to appraisal fraud

Posted on March 4, 2008 by grim

From the Wall Street Journal: Fannie, Freddie Set Stricter Appraisal Rules By JAMES R. HAGERTY and AMIR EFRATI March 4, 2008; Page A3 Fannie Mae and Freddie Mac announced an agreement with New York Attorney General Andrew Cuomo to discourage … Continue reading →

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

NJ paid family leave bill passes Senate

Posted on March 4, 2008 by grim

From the Asbury Park Press: Family leave narrowly passes Senate The full Senate narrowly approved a proposal that would give workers a paid family leave program to care for a newborn, a newly adopted child or an ill family member, … Continue reading →

Posted in Economics, New Jersey Real Estate, Politics | 110 Comments

Northern NJ February Residential Sales

Posted on March 3, 2008 by grim

Preliminary February sales and inventory data for Northern New Jersey is in. Please note that this data is subject to revision. Due to the low volume of sales in February, the lower bound of all graphs had to be adjusted … Continue reading →

Posted in Economics, New Jersey Real Estate | 433 Comments

Right time for paid family leave?

Posted on March 3, 2008 by grim

From Newsday: After more than a decade, paid work leave bill finally gets big vote The state Senate was set to vote Monday on whether to make New Jersey the third state to let workers take paid leave to care … Continue reading →

Posted in Economics, Politics | 98 Comments