Monthly Archives: September 2008

“We may be okay once we get a correction in prices”

Posted on September 30, 2008 by grim

From the Record: Home prices decline in metro area Home prices in the New York metropolitan area, which includes North Jersey, declined 7.4 percent from July 2007 to July 2008, the Standard and Poor’s Case-Shiller Index said today. That’s well … Continue reading →

Posted in Housing Bubble, New Jersey Real Estate | 672 Comments

No Bottom Yet

Posted on September 30, 2008 by grim

From Bloomberg: Home Prices in 20 U.S. Cities Declined 16.3% in July House prices in 20 U.S. cities declined in July at the fastest pace on record, signaling the worst housing recession in a generation had yet to trough even … Continue reading →

Posted in Economics, Housing Bubble, National Real Estate | 235 Comments

Going Global

Posted on September 29, 2008 by grim

From the Wall Street Journal: Crisis Hits Europe’s Banks As U.S. Seals Bailout Deal The White House and congressional leaders agreed on a deal to authorize the biggest banking rescue in U.S. history. The $700 billion program would effectively nationalize … Continue reading →

Posted in Economics, Housing Bubble, National Real Estate | 806 Comments

Weekend Open Discussion

Posted on September 26, 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 | 962 Comments

Spending our dollars when everyone else is slashing

Posted on September 25, 2008 by grim

From the Daily Record: Corzine: No new budget cuts, at least for now New Jersey will not follow New York City in reopening its budget to make additional spending cuts in response to the Wall Street turmoil, Gov. Jon S. … Continue reading →

Posted in Economics, Politics, Property Taxes | 520 Comments

Housing … Grim

Posted on September 24, 2008 by grim

From Reuters: Housing grim as financial rescue debate rages Prices of U.S. existing homes suffered a record drop in August and the rate of sales tumbled, offering little sign of improvement in the source of the financial crisis in the … Continue reading →

Posted in Economics, Housing Bubble, National Real Estate | 212 Comments

Home Prices Keep Falling

Posted on September 24, 2008 by grim

From Bloomberg: U.S. Housing Prices Tumble on Home Mortgage Scarcity U.S. home prices tumbled in July as the credit crisis that led to this month’s toppling of Lehman Brothers Holdings Inc. tightened mortgage standards and slashed real estate lending. Home … Continue reading →

Posted in Housing Bubble, National Real Estate, New Jersey Real Estate | 294 Comments

“Oh my goodness, this payment is more than I thought it would be”

Posted on September 23, 2008 by grim

From the Press of Atlantic City: Census supports feeling New Jersey ‘cost of living is out of control’ Nanci David fulfilled her dream of owning a home in 2004, moving into a two-story yellow house on a quiet Pleasantville street. … Continue reading →

Posted in Economics, Housing Bubble, New Jersey Real Estate | 457 Comments

“You cannot just turn over $700 billion of taxpayer money and not insist that that taxpayer is going to be protected in this.”

Posted on September 22, 2008 by grim

From the Wall Street Journal: Lawmakers Battle Over Rescue Plan By GREG HITT, DAMIAN PALETTA and DEBORAH SOLOMON SEPTEMBER 22, 2008 Lawmakers are scrambling to put their mark on the Bush administration’s $700 billion plan to save financial markets — … Continue reading →

Posted in Economics, Housing Bubble, National Real Estate | 623 Comments

Weekend Open Discussion

Posted on September 19, 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 | 1,023 Comments

“It’s basically a disaster for tri-state real estate”

Posted on September 18, 2008 by grim

From Bloomberg: New Jersey’s `Wall Street West’ Quakes Amid Namesake’s Turmoil Jersey City, where New Jersey bet it could transform warehouse and factory tracts into a “Wall Street West” across the Hudson River from Manhattan, was paying off. That is, … Continue reading →

Posted in Economics, Housing Bubble, New Jersey Real Estate | 572 Comments

On the hook for AIG

Posted on September 17, 2008 by grim

From the Wall Street Journal: U.S. to Take Over AIG in $85 Billion Bailout; Central Banks Inject Cash as Credit Dries Up Emergency Loan Effectively Gives Government Control of Insurer; Historic Move Would Cap 10 Days That Reshaped U.S. Finance … Continue reading →

Posted in Economics, Housing Bubble, National Real Estate | 504 Comments

“Good luck getting a loan.”

Posted on September 16, 2008 by grim

From Bloomberg: Mortgage Seekers Find Rates Are Down, Credit Standards Tighter U.S. mortgage rates are dropping. Good luck getting a loan. Existing home prices have fallen 7.7 percent since their July 2006 high and rates dropped below 6 percent last … Continue reading →

Posted in Housing Bubble, National Real Estate, Risky Lending | 467 Comments

Crisis!

Posted on September 15, 2008 by grim

Lehman… Merrill… Is there anything more to say? (Update: 24 hours later and 650+ comments, I guess there was more to say.)

Posted in Economics, Housing Bubble, Risky Lending | 655 Comments

Weekend Open Discussion

Posted on September 12, 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 | 656 Comments