Monthly Archives: January 2022

We’ve got all the risk

Posted on January 31, 2022 by grim

From NJ1015: More than 1 in 5 high-risk U.S. housing markets are NJ counties A 2021 fourth-quarter report released by ATTOM Data Solutions shows that one-fifth of the nation’s counties most at risk for damage to their housing markets due to COVID-19’s … Continue reading →

Posted in Demographics, Economics, Housing Bubble, Politics | 127 Comments

Where now?

Posted on January 29, 2022 by grim

From Forbes: Home price growth decelerates again—forecast models say the peak rate is behind us Where do we go from here? Every leading real estate forecast modelreviewed by Fortune predicts this home price growth deceleration—which started in September—will continue in 2022. The most … Continue reading →

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

18.8% isn’t really “slowing” – just sayin’

Posted on January 26, 2022 by grim

From the WSJ: U.S. Home-Price Growth Slowed in November U.S. home-price growth decelerated in November as months of fast-rising prices pushed some buyers out of the market. The S&P CoreLogic Case-Shiller National Home Price Index, which measures average home prices … Continue reading →

Posted in Economics, Housing Bubble, National Real Estate | 350 Comments

NJ Unemployment Falls to 6.3%

Posted on January 25, 2022 by grim

From ROINJ: New Jersey adds jobs for 12th straight month; unemployment rate falls to 6.3% New Jersey Department of Labor & Workforce Development figures for December show the state added 10,100 jobs, according to preliminary estimates by the U.S. Bureau of Labor … Continue reading →

Posted in Demographics, Economics, Employment, New Jersey Real Estate | 112 Comments

Just keeps going

Posted on January 24, 2022 by grim

From Bloomberg: A Typical U.S. Home Is Now Valued at $320,662 — 20% More Than a Year Ago Mortgage rates are creeping higher, yet the U.S. real estate market is still breaking records.  Home values on average jumped almost 20% … Continue reading →

Posted in Demographics, Economics, National Real Estate | 109 Comments

Fun – dah – mentals

Posted on January 22, 2022 by grim

From the NYT: Something Has to Give in the Housing Market. Or Does It? Two years into the pandemic, rundown bungalows command bidding wars, buyers keep snatching up places they’ve never seen, and homebuilders can’t find enough cabinet doors for everyone who … Continue reading →

Posted in Demographics, Economics, Employment, National Real Estate | 59 Comments

Shovels Ready

Posted on January 21, 2022 by grim

From the Star Ledger: Feds clear the way for Gateway Tunnel project to get billions in funding The final hurdle needed to qualify for federal funding to start building the $12.3 billion Gateway rail Tunnel was cleared Thursday when the Federal … Continue reading →

Posted in New Development, New Jersey Real Estate, NYC | 104 Comments

It was legal to discriminate against older workers in NJ

Posted on January 20, 2022 by grim

From the Star Ledger: Older workers in N.J. have new protections to help them find a job, get promoted In response to an increasingly older workforce and retirement ages, on Oct. 4, 2021, Gov. Phil Murphy signed a bill expanding … Continue reading →

Posted in Demographics, Economics, New Jersey Real Estate | 147 Comments

The snark is just too good (sorry Mary)

Posted on January 17, 2022 by grim

From NJ1015: Is this a $3M dump? No one wants Mary J. Blige’s NJ mansion (Opinion) Singer Mary J. Blige was inducted into the Rock and Roll Hall of Fame last year. She’s won nine Grammy awards, been nominated for … Continue reading →

Posted in Economics, Housing Bubble, New Jersey Real Estate | 231 Comments

The kids are alright (kinda)

Posted on January 14, 2022 by grim

From Insider: 1980s millennials are finally recovering from the Great Recession Nearly 15 years after the Great Recession hit, the eldest millennials are finally doing alright. Graduating into a blighted job market put them on a rocky road to building both their career … Continue reading →

Posted in Demographics, Economics, Employment, National Real Estate | 153 Comments

The new big box mart

Posted on January 12, 2022 by grim

From the Real Deal: Northern NJ industrial properties are fetching record rents Warehouse tenants in 2021 paid more for proximity to the largest consumer market in the U.S. than ever before. Retailers, manufacturers and other industrial renters want so badly … Continue reading →

Posted in Economics, National Real Estate, New Development, New Jersey Real Estate | 278 Comments

Great Resignation to accelerate?

Posted on January 11, 2022 by grim

From NJ1015: Why do more workers plan to jump ship from their jobs in 2022? Job optimism is high as 41% of workers plan to look for a new job in the first six months of 2022, according to Robert … Continue reading →

Posted in Demographics, Economics, Employment, National Real Estate | 94 Comments

Slowin’ down

Posted on January 9, 2022 by grim

From Fortune: The Great Deceleration? The biggest jump in home prices is behind us—why housing appreciation will slow Year over year, U.S. home prices rose 19.1% between October 2020 and October 2021, according to the S&P CoreLogic Case-Shiller Index, the leading … Continue reading →

Posted in Economics, National Real Estate | 118 Comments

The new New Jersey

Posted on January 7, 2022 by grim

From NJ Monthly: How Covid-19 Changed the Way We Work in New Jersey When Governor Phil Murphy signed an unprecedented executive order in March 2020 directing New Jersey’s 9 million residents to stay home, the state’s schools and nonessential businesses to shut … Continue reading →

Posted in Demographics, Economics, Employment, New Jersey Real Estate | 156 Comments

Strong GDP growth for NJ

Posted on January 6, 2022 by grim

From the Star Ledger: Good news: There’s been a wholesale transformation of New Jersey’s economy You might have missed it amid the holiday rush, but 2021 ended with some incredibly positive economic news: for the third quarter, the Garden State ranked … Continue reading →

Posted in Economics, Employment, New Jersey Real Estate | 108 Comments