Monthly Archives: April 2008

Weekend Open Discussion – Part II

Posted on April 18, 2008 by grim

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

Posted in General | 252 Comments

Weekend Open Discussion

Posted on April 18, 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 | 317 Comments

NJ: March unemployment steady at 4.8%

Posted on April 16, 2008 by grim

From the NJ Department of Labor and Workforce Development: Employment Level Relatively Unchanged in March Unemployment Rate Held Steady Over the Month New Jersey’s employment was virtually unchanged in March as employers added 1,000 workers to their payrolls. New Jersey’s … Continue reading →

Posted in Economics, New Jersey Real Estate | 41 Comments

Sell It Yourself

Posted on April 16, 2008 by grim

From the New York Daily News: Amid challenging real estate market, some sellers forsake agents It’s a quiet Sunday afternoon on the Upper East Side and newlyweds Jon and Milissa Aronson are perched expectantly on their sofa. A plate of … Continue reading →

Posted in Housing Bubble, National Real Estate | 248 Comments

March housing starts expected at 17 year low

Posted on April 16, 2008 by grim

From Bloomberg: Housing Starts in U.S. Probably Approached 17-Year Low in March Housing starts in the U.S. dropped in March, nearing a 17-year low and signaling that declining construction will continue to erode economic growth this year, economists said before … Continue reading →

Posted in Economics, Housing Bubble, National Real Estate | Comments Off on March housing starts expected at 17 year low

Foreclosures up 57% in March

Posted on April 15, 2008 by grim

From Bloomberg: U.S. Foreclosures Jump 57% as Homeowners Walk Away U.S. foreclosure filings jumped 57 percent and bank repossessions more than doubled in March from a year earlier as adjustable mortgages increased and more owners gave up their homes to … Continue reading →

Posted in Economics, Housing Bubble, National Real Estate | 381 Comments

“The market value is what the market value is”

Posted on April 14, 2008 by grim

From the Record: How low will homes go? The number of home sales in North Jersey plummeted some 30 percent in 2007, raising the odds of a significant decline in home values beginning this year. Prices inched down only slightly … Continue reading →

Posted in Economics, Housing Bubble, New Jersey Real Estate | 305 Comments

Monmouth/Ocean: Home of the Housing ATM

Posted on April 13, 2008 by grim

From the Asbury Park Press: Borrowers used houses to get cash Proponents had once touted subprime loans as a way for some consumers to afford the American dream of homeownership. Yet new government data now show a nightmare scenario that … Continue reading →

Posted in Economics, Housing Bubble, New Jersey Real Estate | 116 Comments

Weekend Open Discussion – Part II

Posted on April 12, 2008 by grim

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

Posted in General | 106 Comments

Weekend Open Discussion

Posted on April 11, 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 | 330 Comments

An Honest Mistake

Posted on April 11, 2008 by grim

From the WSJ: RATING GAME As Housing Boomed, Moody’s Opened Up By AARON LUCCHETTI April 11, 2008; Page A1 Bond-rating agency Moody’s Investors Service used to be an ivory tower of finance. Analysts were discouraged from having a drink with … Continue reading →

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

The Roaring 00’s (uh-ohs)

Posted on April 10, 2008 by grim

From the Wall Street Journal: Economy Has Further to Fall, According to Economists’ Survey Bernanke, Paulson Grades Still Low, Despite Getting Thumbs Up on Bear Deal By PHIL IZZO April 10, 2008 The weakening U.S. economy has further to fall, … Continue reading →

Posted in Economics, Housing Bubble, National Real Estate | 29 Comments

Tracking Realtor Spin

Posted on April 9, 2008 by grim

Hat tip to RentingInNJ for providing the chart and compling the quotes. Kudos! 1. “There’s no question there is a strong demand for housing from a growing population.” – David Lereah, NAR Chief Economist 2. “For the foreseeable future, the … Continue reading →

Posted in Housing Bubble | 324 Comments

Defining Stabilization

Posted on April 9, 2008 by grim

Nice timing from the WSJ: Real-Estate Market Slump Continues Despite Forecasts For everyone struggling to sell their homes in a terrible market, the latest forecast may offer some comfort. The National Association of Realtors says sales of “existing” homes, by … Continue reading →

Posted in Housing Bubble, National Real Estate | Comments Off on Defining Stabilization

Still no sign of a bottom

Posted on April 9, 2008 by grim

From the AP: Bottom of real estate slump? What’s that? Hoped-for end to tumbling housing market appears pushed back by the latest sales data Homeowners and investors hunting for any indication that the housing market has bottomed out did not … Continue reading →

Posted in Economics, Housing Bubble, National Real Estate | 288 Comments