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Monthly Archives: October 2009
Turnaround by 20 … 19?
From Bloomberg: New Jersey Won’t Recover Job Losses Until 2019, Rutgers Finds New Jersey, its jobless rate at a 32-year high, won’t exceed its pre-recession employment for a decade, Rutgers University economists predict. The state will begin recovering in 2011, … Continue reading
Posted in Economics, New Jersey Real Estate
453 Comments
Buttoning up AC for the winter
From the Star Ledger: Lack of guests leads Borgata to close rooms in Water Club Hotel The Borgata Hotel Casino & Spa in Atlantic City is taking hundreds of rooms at its Water Club hotel out of service on Tuesdays … Continue reading
Posted in Economics, New Jersey Real Estate
257 Comments
Bubble 2.0
From Reuters: U.S. home price gains may not be sustainable: Shiller The gains in U.S. home prices in recent months may not be sustainable and increases in some areas of the country appear to be in “bubble territory,” an economist … Continue reading
Posted in Housing Bubble, National Real Estate
261 Comments
The push to extend credit is on
From the APP: Time winding down for home buyers With its expiration just over a month away, a push is on to extend the first-time home buyers’ tax credit, which boosted the beleaguered housing market in the midst of a … Continue reading
Posted in Economics, Housing Bubble, National Real Estate
228 Comments
“We are just trading off good news now for bad news in 2010.”
From Minyanville: Where the Housing Market Goes From Here Subsidizing renters with gobs of greenbacks if they buy a house turns out to be a pretty popular program. Thanks to the tax credit for first-time home buyers, as well as … Continue reading
Posted in Economics, National Real Estate
220 Comments
Stuck in ’06
From the NY Times: Puzzling Over Home Prices THE housing market in New Jersey has been on a little roll toward recovery — the number of sales has risen and the number of houses on the market has fallen for … Continue reading
Posted in Economics, Housing Bubble, New Jersey Real Estate
107 Comments
Homebuyer Tax Credit Free For All
From HousingWire: IRS Wrongly Gave Homebuyer Tax Credit to Resident Aliens, Minors: Watchdog The Treasury Inspector General for Tax Administration (TIGTA) believes the Internal Revenue Service (IRS) may have paid out millions of dollars in first-time homebuyer tax credits to … Continue reading
Posted in National Real Estate, Politics
215 Comments
Army backstops home price declines in Ft. Monmouth closure
From the NY Post: Army covers its bases on supporting house prices HERE’S a government deal I know you’d love to get in on. More than four years ago the US Army announced that it was closing its Fort Monmouth … Continue reading
Posted in New Jersey Real Estate
206 Comments
Beige Book – October 2009
From the Federal Reserve: Beige Book – October 2009 Second District–New York The Second District’s economy has shown scattered signs of a pickup since the last report. The labor market has given mixed signals, with some signs of strengthening in … Continue reading
Posted in Economics, New Jersey Real Estate
26 Comments
Housing starts give mixed signals about recovery
From the AP: Meltdown 101: Housing starts show industry’s woes Housing construction is crawling out of its very deep hole, but no one expects it to reach the heights hit before the housing bubble burst — at least not for … Continue reading
Dwek to plead guilty
From the Star Ledger: Solomon Dwek, central witness in N.J. corruption probe, is expected to plead guilty to bank fraud charges Solomon Dwek, the key witness in the massive federal corruption and money laundering sting that rocked the state’s political … Continue reading
Posted in New Jersey Real Estate, Politics
168 Comments
Pro athletes to save the high-end!
Sure hope we’ve got enough of them, there are currently 332 homes for sale over $2m in Essex, Hunterdon, Morris, Somerset, Sussex and Union (GSMLS). That number goes up to 600 homes when you add in Passaic, Hudson, and Bergen … Continue reading
Posted in Economics, New Jersey Real Estate
224 Comments
Weekend Open Discussion
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
148 Comments
Ponzi Jr Facing 10 Years
From the Daily Record: Morris woman admits to $1.2 million real estate scam A Convent Station woman faces up to a decade in prison after admitting in court Thursday that she accepted $1.2 million from investors but didn’t follow up … Continue reading
Posted in Foreclosures, New Jersey Real Estate
293 Comments
RealtyTrac: “They were the worst three months of all time”
From RealtyTrac: U.S. FORECLOSURE ACTIVITY INCREASES 5 PERCENT IN Q3 New Jersey – Q3 Foreclosure Activity Lis Pendens – 11,816 (Defaults) Notice of Sale – 3,878 REO – 2,414 From Bloomberg: U.S. Foreclosure Filings Jump 23% to Record in Third … Continue reading
Posted in Foreclosures, National Real Estate
260 Comments