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Monthly Archives: March 2016
Jed Kolko drops the bomb on the urbanization myth
From jedkolko.com (former Trulia economist): Urban Revival? Not For Most Americans The U.S. population is now less urban than before the start of the housing bubble. While well-educated, higher-income young adults have become much more likely to live in dense … Continue reading
National home prices up 5.4% in January
From Forbes: Home Prices Rise A Steady 5.4% In January, S&P/Case-Shiller Says Home sales prices rose 5.4% in January, continuing at a moderate and steady pace despite ongoing inventory shortages, a report released Tuesday said. Home prices are rising twice … Continue reading
Posted in Demographics, Economics, Housing Recovery, National Real Estate
44 Comments
Pending home sales jump in February
From Reuters: U.S. pending home sales hit seven-month high in February Contracts to buy previously owned U.S. homes rose sharply in February, reversing the previous month’s deep decline, as the volatility of the data continues to make it difficult to … Continue reading
Posted in Economics, Housing Recovery, National Real Estate
44 Comments
A long way to “recovery”
From the Star Ledger: N.J. home prices slowly recover from housing bubble Slowly but steadily, New Jersey’s housing market is recovering. The average home sale price in New Jersey in 2015 was $397,279, according to the state Division of Taxation. … Continue reading
Posted in Housing Recovery, New Jersey Real Estate
33 Comments
Never going back again
New Jersey’s new state song: From the Record: 55-year fight to name a New Jersey state song gains traction Mascara, also known as Joseph Rocco Mascari of Phillipsburg, was a fixture at the State House for 55 years as he … Continue reading
Posted in Humor, New Jersey Real Estate, Unrest
34 Comments
Population patterns in NJ showing urbanization shift
From the Record: Bergen County leads population growth trend, halts flow to other parts of N.J. A decades-long population shift from northeastern New Jersey to other parts of the state has come to an abrupt halt, with Bergen and Hudson … Continue reading
Posted in Demographics, Economics, Housing Recovery, North Jersey Real Estate, NYC
33 Comments
Otteau: NJ home prices to rise 4% in 2016
From the Record: N.J. housing expert sees 4 percent rise in prices this year New Jersey home prices are likely to rise about 4 percent this year, as a thriving job market boosts a housing sector that’s still recovering from … Continue reading
Posted in Economics, Housing Recovery, New Jersey Real Estate
71 Comments
Note to NJ – Stop making promises you can’t afford
From the Record: Standard & Poor’s revises N.J.’s credit outlook to ‘negative’ New Jersey’s finances are still a mess, Standard & Poor’s said Tuesday, and the state’s weak credit outlook will not improve until officials make lasting reforms. The Wall … Continue reading
Posted in Economics, New Jersey Real Estate, Politics
80 Comments
Blame the blizzard … and the stock market
From the WSJ: U.S. Existing Home Sales Tumbled 7.1% in February Sales of previously owned homes sank in February, a sign that demand for housing could be cooling amid rising prices and low inventory. Sales fell 7.1% in February from … Continue reading
Just how low can inventory go?
From the WSJ: This Problem Is Shutting the Door on Many Would-Be Home Buyers The U.S. housing market has a supply issue. Between low interest rates, a steady job market and rising rents, economic fundamentals suggest lots of houses should … Continue reading
Posted in Economics, Housing Recovery, National Real Estate
52 Comments
Oh boy…
From News 12: Toms River ordinance bans aggressive real estate solicitation Door-to-door real estate solicitation is now forbidden in areas of Toms River. The “cease and desist” ordinance went into effect Friday. The ordinance comes after many complaints by Toms … Continue reading
Posted in New Jersey Real Estate, Politics, Unrest
59 Comments
Living near crime doesn’t pay
From RealtyTrac: RealtyTrac® (www.realtytrac.com), the nation’s leading source for comprehensive housing data, today released its first-ever Registered Criminal Offender Risk Index, which shows that average home values and home equity were lower — while average foreclosure rates were higher — … Continue reading
Posted in Demographics, Economics, Housing Recovery
55 Comments
NJ’s Wealthiest Resident Leaves for Florida
From Bloomberg: Tepper’s Most Profitable 2015 Trade May Be Moving to Miami New Jersey lost its richest resident late last year when billionaire David Tepper decamped to the tax friendly climes of Florida. Tepper registered to vote in Florida last … Continue reading
Posted in Economics, New Jersey Real Estate, Politics, Property Taxes
96 Comments
Swallowed by the sea
From the Star Ledger: Rising seas could drive 837K N.J. residents from their homes, study says Rising seas could force hundreds of thousands of New Jersey residents from their homes by the end of the century, a new report found. … Continue reading
Posted in New Jersey Real Estate, Shore Real Estate
74 Comments
NJ 2015 Jobs Revision Surprise
From the Record: NJ’s 2015 job creation was better than first reported, but state lost 14,100 jobs in January New Jersey employers created 81,500 jobs last year, even more than the 65,200 originally reported, to make 2015’s employment gains the … Continue reading
Posted in Economics, Employment, New Jersey Real Estate
78 Comments