Monthly Archives: August 2009

Recession Hits Upper Haughtyville

Posted on August 31, 2009 by grim

From the Record: Wall St. fallout hits home Juliette Kim sees the state of the economy in the drop in customers at her Ridgewood dry cleaning business. A few doors down, Rick Breitstein sees it in the plummeting sales of … Continue reading →

Posted in Economics, New Jersey Real Estate | 211 Comments

Weekend Open Discussion

Posted on August 28, 2009 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 | 190 Comments

Mortgage and other loan delinquencies rising

Posted on August 27, 2009 by grim

From Reuters: U.S. mortgage delinquencies up in July: Equifax Rising unemployment continues to make more Americans miss their mortgage payments, a negative sign for the U.S. housing market that has lately enjoyed strong data on sales, prices and mortgage applications. … Continue reading →

Posted in Economics, National Real Estate | 227 Comments

New Jersey Home Price Tracker – August

Posted on August 25, 2009 by grim

The New Jersey Home Price Index Tracker has been updated to include: * June S&P Case Shiller (Aggregate, Tiered, Condo) * Q2 FHFA Home Price Index (HPI, Purchase Only) (click to enlarge) (click to enlarge) (click to enlarge) FHFA (Formerly … Continue reading →

Posted in General | 254 Comments

July S&P Case Shiller Home Price Index

Posted on August 25, 2009 by grim

The S&P CS HPI is due out at 9am this morning. Post will become updated as information becomes available. From Bloomberg: Home Prices in U.S. Probably Fell at Slower Pace, Confidence Up Home values in 20 U.S. metropolitan areas probably … Continue reading →

Posted in Economics, National Real Estate | 111 Comments

Go West Stay East

Posted on August 23, 2009 by grim

From the Record: Downturn hammers the Poconos For buyers turned off by North Jersey’s high home prices and property taxes, the answer has long been: Go west, to the Poconos. Transplants from North Jersey and the New York metropolitan area … Continue reading →

Posted in Economics, National Real Estate | 142 Comments

Jobs added in NJ, but unemployment rises to 9.3%

Posted on August 19, 2009 by grim

From the NJ Department of Workforce and Labor Development: New Jersey Gained 13,000 Private Sector Jobs in July; Unemployment Rate Rose Slightly to 9.3 Percent Employment in New Jersey grew in July, led by a gain of 13,000 jobs at … Continue reading →

Posted in Economics, New Jersey Real Estate | 196 Comments

“So you have to ask, why all the optimism?”

Posted on August 19, 2009 by grim

From Diana Olick at the CNBC Realty Check Blog: Homeowners Still Deluded A new report from Zillow.com finds that 60 percent of homeowners surveyed believe their home lost value in the past twelve months. In reality, 83 percent of all … Continue reading →

Posted in Housing Bubble, National Real Estate | 167 Comments

REDC Auction Results

Posted on August 18, 2009 by grim

From Crain’s New York Business: Foreclosed properties go for 14 cents on dollar More than a thousand real estate bargain hunters spent $13.2 million Sunday snapping up foreclosed homes in New York and New Jersey during an auction in New … Continue reading →

Posted in Economics, Foreclosures, Housing Bubble, National Real Estate | 149 Comments

Put away the champagne, for now.

Posted on August 17, 2009 by grim

From the WSJ (Hat Tip ChiFi): Home Prices: There’s No Quick Recovery Ahead So, is our long national nightmare over? Has the housing market finally hit bottom? There has been some muted — albeit exhausted — cheering from homeowners in … Continue reading →

Posted in Economics, Housing Bubble, National Real Estate | 236 Comments

New Jersey Foreclosures Accelerate: Up 40% in June, 24% in H1

Posted on August 13, 2009 by grim

From the Record: Foreclosure activity up sharply in N.J. New Jersey’s recent good news of falling home foreclosure rates was interrupted in July, with default activity climbing higher than the national average, according to data from foreclosure information provider RealtyTrac … Continue reading →

Posted in Foreclosures, New Jersey Real Estate | 60 Comments

New Jersey Home Prices Decline in Q2

Posted on August 13, 2009 by grim

From the National Association of Realtors: Metropolitan Area Prices Metropolitan area / Year over year change in prices Allentown-Bethlehem-Easton, Pa.-N.J. -10.3 percent Atlantic City -14.5 percent New York-Northern New Jersey-Long Island, N.Y., N.J., Pa. -16.3 percent New York-Wayne-White Plains, N.Y.-N.J. … Continue reading →

Posted in Economics, New Jersey Real Estate | 175 Comments

NJ bankruptcies up 44%

Posted on August 12, 2009 by grim

From the Record: New Jersey bankruptcies surge The number of bankruptcies in New Jersey surged by more than 40 percent over the last year as recession-battered consumers struggled with debts and job losses while businesses suffered shrinking revenue. Personal and … Continue reading →

Posted in Economics, New Jersey Real Estate | 220 Comments

NYC Shadow Supply

Posted on August 11, 2009 by grim

From Crain’s: Shadow units cast pall New York City’s condominium market may be in even worse shape than the commonly used yardsticks show. In Manhattan in the first quarter, sales were halved from year-earlier levels even as more apartments flooded … Continue reading →

Posted in Economics, Housing Bubble, National Real Estate | 250 Comments

Moody’s: No quick recovery for New Jersey, will lag the nation

Posted on August 10, 2009 by grim

From the Philly Inquirer: Moody’s offers mixed economic outlook for N.J. When Moody’s Investors Service released a mixed report on New Jersey’s financial outlook last week, Republicans seized the opportunity to argue that the state’s financial glass was half empty. … Continue reading →

Posted in Economics, New Jersey Real Estate, Property Taxes | 209 Comments