Monthly Archives: November 2013

Bailout unlikely for flood insurance program

Posted on November 30, 2013 by grim

From the Insurance Journal: Prospects Dim for Bills to Delay Flood Insurance Rate Hikes Efforts to delay implementation of changes in the federal flood insurance program have run into roadblocks on both sides of Capitol Hill. The leaders of the … Continue reading →

Posted in Economics, Politics, South Jersey Real Estate | 10 Comments

But … did it work? (My guess is no)

Posted on November 29, 2013 by grim

From the Star Ledger: State to end program for homeowners fighting foreclosure as federal money nears end After a shaky start, New Jersey has disbursed more than two-thirds of the federal funds it received in 2010 as part of the … Continue reading →

Posted in Economics, Foreclosures, Housing Recovery, New Jersey Real Estate | 107 Comments

Case Shiller showing no slowdown (yet)

Posted on November 27, 2013 by grim

From Bloomberg: Home Prices in 20 U.S. Cities Rise Most Since February 2006 Home prices in 20 U.S. cities rose by the most since February 2006 in the 12 months through September, showing the housing market sustained progress even as … Continue reading →

Posted in Economics, Housing Recovery, National Real Estate | 128 Comments

Gold Coast Glimmers Again?

Posted on November 26, 2013 by grim

From the Jersey Journal: Jersey City, Hoboken waterfront condo values on the rise, experts say Real-estate prices of condos along the Jersey City and Hoboken waterfronts are on the rise, with the number of sales up 36 percent from 2010, … Continue reading →

Posted in Economics, Housing Recovery, New Jersey Real Estate | 112 Comments

Do rates rule the market?

Posted on November 25, 2013 by grim

From the WSJ: Rising Interest May Crash the House Party When cash is trash, the housing market is happy. That was the case during the mid-2000s boom when lenders required little or no money down. It is also true today, … Continue reading →

Posted in Economics, Housing Recovery, National Real Estate | 92 Comments

Mortgage performance continues to improve

Posted on November 23, 2013 by grim

From the NYT: Delinquency Rates on the Decline As the economy improves, the number of borrowers who are seriously behind on their mortgage payments continues to decline. The enhanced outlook is such that even those in delinquency are feeling more … Continue reading →

Posted in Economics, Foreclosures, Housing Recovery, Risky Lending | 68 Comments

Gloomy news for a rainy morning

Posted on November 22, 2013 by grim

From the WSJ: N.J. Job Growth Stagnant The first reports on the New York City area job market since the federal government shutdown showed a mixed picture of the regional economy, with sluggish job growth in New Jersey and a … Continue reading →

Posted in Economics, Employment, New Jersey Real Estate, NYC | 121 Comments

October EHS Disappoint

Posted on November 21, 2013 by grim

From Bloomberg: Sales of U.S. Existing Homes Drop to Lowest in Four Months Purchases of previously-owned U.S. homes fell in October to the lowest level in four months as limited supply and higher mortgage rates restrained momentum in the housing-market … Continue reading →

Posted in Economics, Housing Recovery, National Real Estate | 98 Comments

November Existing Home Sales

Posted on November 20, 2013 by grim

November Home Sales due out from the NAR at 10am this morning. Consensus estimates are for a big drop in SAAR, down from the 5.29m annual pace in October to 5.13m. Estimates range from a dismal 5m to a 5.3m … Continue reading →

Posted in Economics, Housing Recovery, National Real Estate | 77 Comments

Who can afford to live here? Wealthy and well educated

Posted on November 19, 2013 by grim

From the Star Ledger: Areas surrounding Trenton, Newark rank among the nation’s wealthiest, well-educated Two of the nation’s wealthiest, highly educated demographic clusters – also known as “Super Zips” – are located in New Jersey, according to a report from … Continue reading →

Posted in Demographics, Economics, New Jersey Real Estate | 90 Comments

New Jersey hikes minimum wage – indexes it to inflation – good or bad?

Posted on November 18, 2013 by grim

News flow a little bit slow this morning, so I thought I’d pull a piece from the archives that went almost entirely undiscussed here. Minimum wage is always a hot topic, with supporters either vehemently for – or against, so … Continue reading →

Posted in Economics, Employment, New Jersey Real Estate | 70 Comments

Middle Class in NJ? Sorry to hear it

Posted on November 15, 2013 by grim

From the Star Ledger: The rich get richer: Data show N.J.’s upper class growing rapidly while middle class languishes The number of New Jersey’s wealthiest households has doubled over the last decade, and new data from the U.S. Census Bureau … Continue reading →

Posted in Economics | 64 Comments

No more love for bad loans

Posted on November 14, 2013 by grim

From Bloomberg: HUD Said to Fail in Bid to Sell $450 Million of FHA Mortgages The U.S. Department of Housing and Urban Development for the first time failed to sell some of the soured mortgages it’s auctioning off in the … Continue reading →

Posted in Economics, Foreclosures, Mortgages, Risky Lending | 106 Comments

Refi bonanza continues (or) American homeowners not so dumb

Posted on November 13, 2013 by grim

From HousingWire: More refinancing homeowners choose shorter loan terms Of all the borrowers refinancing Freddie Mac-linked loans in the third quarter, 37% moved into shorter loan terms, up 5% from the previous quarter and the highest level recorded since 1992, … Continue reading →

Posted in Economics, Housing Recovery, Mortgages | 73 Comments

All hail king of the flippers

Posted on November 12, 2013 by grim

From the Record: Price of luxury living falls: Alpine home can be yours for $49 million It’s not the $68 million he was once asking, but what real estate investor Richard Kurtz is now seeking for the 30,000-square-foot mansion he … Continue reading →

Posted in New Development, New Jersey Real Estate | 73 Comments