Monthly Archives: January 2012

Fed: NJ economy outpacing NYC

From the Record: NJs economy picks up as NYCs slows As New York State’s economic activity has leveled off, New Jersey’s has picked up — and the state job market is stronger than the unemployment rate of 9 percent suggests, … Continue reading

Posted in Economics, New Jersey Real Estate | 182 Comments

I think I can, I think I can

From CNN/Money: The housing recovery that wasn’t Over the past few months, a spate of good news about the U.S. housing market has led some to think a recovery is finally on the horizon. The evidence is compelling. It now … Continue reading

Posted in Economics, Housing Recovery, National Real Estate | 103 Comments

Which gets cut: Income taxes or property taxes?

From Bloomberg: Christie Pushes Income-Tax Cut as Democrats Eye Property Levies Governor Chris Christie told a group of business leaders that Democrats in the Legislature may jeopardize New Jersey’s economic recovery by putting social issues ahead of job-creation and tax … Continue reading

Posted in New Jersey Real Estate, Politics, Property Taxes | 283 Comments

Where have all the foreclosures gone?

From the Record: One in 12 N.J. home sales was a foreclosure in third quarter About one in every 12 New Jersey home sales in the third quarter of 2011 involved foreclosed properties — a steep drop from the previous … Continue reading

Posted in Foreclosures, New Jersey Real Estate | 138 Comments

What part does hope play in economic forecasting?

From HousingWire: RealtyTrac: Several economists missed the mark with 2011 projections Every new year brings predictions on how the economy is expected to fare, especially in terms of home sales, prices and gross domestic product growth. But with 2012 still … Continue reading

Posted in Economics, Housing Recovery | 143 Comments

Mortgage settlement near?

From Bloomberg: Bank Foreclosure Deal Reviewed by States as Delaware Drops Out State attorneys general reviewed a proposed settlement with banks over foreclosure and mortgage- servicing practices that negotiators are pressing to complete as Delaware said it would reject a … Continue reading

Posted in Foreclosures, Housing Recovery, Politics | 167 Comments

Why do we keep believing we can fix housing?

From the WSJ: Economists See Ways to Aid Housing Market he underpinnings of a housing recovery are hiding in plain sight: sharp price declines, low mortgage rates and rising rents have made owning more affordable than renting in a growing … Continue reading

Posted in Economics, Foreclosures, Housing Bubble, Housing Recovery, National Real Estate, Risky Lending | 155 Comments

Après-ski (or sled) open discussion

Some weekend gossip, from the Real Deal blog: NBA veteran suffers big loss on NJ condo sale Atlanta Hawks center Jason Collins sold his North Bergen condo — fully stocked with electronics and furniture — at a 58 percent loss … Continue reading

Posted in Comp Killer | 107 Comments

NJ unemployment ticks down to 9 in December

From New Jersey Newsroom: N.J. jobless rate drops to 9%, lowest since May 2009 New Jersey’s unemployment rate in December dropped 0.1 percent to 9 percent, the lowest jobless rate in the state since May 2009, 31 months ago. And … Continue reading

Posted in Economics, New Jersey Real Estate | 120 Comments

I’d like a tax cut, but can we afford it?

From the APP: Gov. Christie takes rosy look at state revenues By calling for a 10 percent income tax cut, Gov. Chris Christie must believe boom times are coming to state finances. Because with the scheduled increases for pension payments … Continue reading

Posted in Economics, New Jersey Real Estate, Politics | 149 Comments

Bottoms Up?

From the WSJ: From Bottom Up, Signs of Housing Recovery After years of watching home prices slide, Claudia Ruggiero, a teacher in White Plains, was ready to strike. She and her husband Michael Johnson, also a teacher, had a 14-month-old … Continue reading

Posted in Economics, Housing Recovery, New Jersey Real Estate | 192 Comments

Location, location, location, or something else?

From the Record: Location still holds key to value The decline in housing values has not fallen equally on all towns. A Record analysis of home prices in the first half of 2011 (the latest available in public records) found … Continue reading

Posted in Economics, North Jersey Real Estate, South Jersey Real Estate | 229 Comments

The other New Jersey housing market

From the NY Times: Rural Areas Slower to Rebound FOR whatever reason, homes sales picked up in New Jersey in the latter part of 2011. A new statewide market report shows contract signings increased in six of the seven months … Continue reading

Posted in Economics, Housing Bubble, Housing Recovery, New Jersey Real Estate | 220 Comments

January Beige Book

From the Federal Reserve: Beige Book – Second District–New York The Second District’s economy has grown at a somewhat faster pace since the last report, led by brisk holiday-season spending. Labor market conditions, as well as prices, have remained generally … Continue reading

Posted in Economics, Housing Recovery, New Jersey Real Estate | 163 Comments

Additional info from the Corelogic November HPI

From CoreLogic (no link): CoreLogic® Home Price Index Shows Fourth Consecutive Month-Over-Month Decline – Home Prices Down 4.3 Percent Year-Over-Year

Posted in Housing Recovery, New Jersey Real Estate | 151 Comments