Monthly Archives: June 2012

Families hit hard where it hurts … in the wallet

Posted on June 13, 2012 by grim

From Bloomberg: http://www.bloomberg.com/news/2012-06-11/fed-says-family-wealth-plunged-38-8-in-2007-2010-on-home-values.html The financial crisis wiped out 18 years of gains for the median U.S. household net worth, with a 38.8 percent plunge from 2007 to 2010 that was led by the collapse in home prices, a Federal Reserve … Continue reading →

Posted in Economics, Housing Bubble, National Real Estate | 145 Comments

The Paradox of Negative Equity

Posted on June 12, 2012 by grim

From HousingWire: CoreLogic: Negative equity props up home prices in toughest markets The negative equity problem may actually be pushing up home prices at the bottom of some of the hardest-hit housing markets, according to a report from CoreLogic. The … Continue reading →

Posted in Economics, Housing Recovery, National Real Estate | 138 Comments

NJ Schools – Worth Every Penny!

Posted on June 11, 2012 by grim

From the Daily Journal: N.J. high school more expensive than Harvard Kevin Kusion’s journey through high school was normal in almost every way, except for what taxpayers spent to educate him. The cost for his last year of high school: … Continue reading →

Posted in New Jersey Real Estate, Politics, Property Taxes | 228 Comments

North Jersey Contracts – May 2012

Posted on June 8, 2012 by grim

(Source GSMLS, except Bergen which is NJMLS) Pending Home Sales (Contracts) ——————————- Bergen County May 2011 – 734 May 2012 – 877 (Up 19.5% YOY) Essex County May 2011 – 356 May 2012 – 470 (Up 32.0% YOY) Hunterdon County … Continue reading →

Posted in Housing Recovery, New Jersey Real Estate | 203 Comments

June Beige Book

Posted on June 6, 2012 by grim

From the Fed: Beige Book – June 6, 2012 Second District–New York The Second District’s economy has continued to expand at a moderate pace since the last report. Labor market conditions have generally improved, and, on balance, contacts indicate they … Continue reading →

Posted in Employment, New Jersey Real Estate | 133 Comments

8 house price indexes, no clear direction

Posted on June 5, 2012 by grim

From the WSJ: Home-Price Scorecard: A Turning Market, But Which Way? (click for graphic) Our latest price scorecard raises the question of whether a real or false spring is under way. The March numbers, which show the percentage change in … Continue reading →

Posted in Economics, Housing Bubble, Housing Recovery, National Real Estate | 290 Comments

No Borrower Left Behind

Posted on June 4, 2012 by grim

From American Banker: HARP Refis Skyrocket in 1Q HARP 2.0, the expanded GSE refinancing program unveiled late last year, kicked into full speed during the first quarter with volumes doubling to 180,000 units compared to the prior period. The program … Continue reading →

Posted in Mortgages, National Real Estate, Risky Lending | 121 Comments

How low can it go?

Posted on June 2, 2012 by grim

From CNN/Money: Mortgage rates keep plunging: 15-year dips below 3% Mortgage rates continued to plunge to new lows this week, with interest rates on the 15-year fixed rate mortgage dipping below 3% for the first time on record. The 30-year … Continue reading →

Posted in Economics, Mortgages, Risky Lending | 216 Comments

And so it begins…

Posted on June 1, 2012 by grim

Hat tip PGC

Posted in Economics, Housing Bubble, North Jersey Real Estate | 294 Comments