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Monthly Archives: October 2011
Only thing better than a double dip, is a triple dip
From CNN/Money: Home prices heading for triple-dip The besieged housing market has even further to fall before home prices really hit rock bottom. According to Fiserv, a financial analytics company, home values are expected to fall another 3.6% by next … Continue reading
Posted in Economics, Housing Bubble, National Real Estate
78 Comments
Snoctobergeddon 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
100 Comments
September pending home sales up YOY, but slip on the month
From Inman: Pending home sales index rises from one year ago A monthly index that tracks pending sales of U.S. resale homes rose in September compared to a year ago, while falling on a month-to-month basis, the National Association of … Continue reading
Posted in Employment, Housing Recovery, National Real Estate
120 Comments
One one hand, it’s not getting any worse, on the other, it’s not getting any better
From NJBiz: N.J. home sales flat as U.S. data show improvement Sales of new single-family homes in September were up 5.7 percent from August, but 0.9 percent lower than September 2010 sales, according to estimates released by the U.S. Census … Continue reading
Posted in Economics, Housing Recovery, New Jersey Real Estate
161 Comments
NJ/NY Metro prices down 3.4% in August
From the Record: Home prices dropped 3.4 percent in August What’s new: Home prices in the New York metropolitan area, which includes North Jersey, dropped 3.4 percent in August, compared with August 2010, the Standard & Poor’s/Case-Shiller index reported on … Continue reading
Relationship between taxes, services, and debt too complex for Jersey taxpayers to grasp
Fallacy: The taxes we pay this year, pay for the services we use this year. Taxes will continue to rise because we need to pay for services consumed in earlier years. The amount of taxes paid in a single year … Continue reading
Posted in New Jersey Real Estate, Property Taxes
103 Comments
August Case Shiller Predictions
Where do you think home prices went in August? From HousingWire: Zillow: Case-Shiller likely fell 3.8% in August Two key indices of home prices likely fell in August, suggesting large numbers of foreclosures and continued high joblessness are acting as … Continue reading
Few takers for flooded Jersey homes
From the Record: After the floods, sellers face lower prices Even before you open the door, you smell the mildew inside the white-brick house in Lincoln Park, a block from the Pompton River. Two feet of water sloshed into the … Continue reading
Posted in Economics, New Jersey Real Estate
40 Comments
Housing “…not as bad as some might try to make us believe.”
From HousingWire: Barclays: Housing may not be as bad as some believe It is unlikely home prices will drop as much as 17%, but analysts with Barclays Capital evaluated that possibility during a recent analysis of future home prices. However, … Continue reading
September home sales disappoint, but post year-over-year gains
(New York-Northern New Jersey-Long Island MSA showing some stabilization with prices down only 0.5% year over year in September, and sales up 0.4%) From the WSJ: US Sep Existing-Home Sales Dip Slightly Sales of previously occupied homes in the U.S. … Continue reading
Word of the day: Moribund
From the Federal Reserve: Beige Book – October 19, 2011 Second District–New York Economic growth in the Second District has remained modest since the last report, though there have been some signs of improvement in the labor market. Manufacturers report … Continue reading
Posted in Economics, New Jersey Real Estate
80 Comments
Buck up campers, home prices will stabilize and begin to rise again
(Now a return to bubbly peak prices? That’ll take a while) From the NY Times: Gloom Grips Consumers, and It May Be Home Prices Ernest Markey lost his stone-cutting business in 2009. He then sold his home for half a … Continue reading
Posted in Economics, Employment, Housing Recovery
135 Comments
Where have all the houses gone?
From the WSJ: Slim Pickings Are Latest Headache for Home Sales The housing market, which has struggled with an oversupply of homes for years, is facing a new problem: a lack of attractive inventory. There were more than 2.19 million … Continue reading
Posted in Economics, Housing Recovery, National Real Estate
112 Comments
No big price drops at the shore?
From the Philly Inquirer: At the Shore, many homes retained value after a wild ride If you have the money – and that means cash – you can buy your dream house at the Jersey Shore. If you don’t, as … Continue reading
Come out, come out, wherever you are
From the NY Times: Many Foreclosures, Few Listings PRICES are down across the board so far this year in urban, suburban, rural and shore areas, in both northern and southern New Jersey — everywhere except areas close to Manhattan commuter … Continue reading
Posted in Foreclosures, New Jersey Real Estate
134 Comments