Monthly Archives: May 2022

Blame COVID

Posted on May 31, 2022 by grim

From CNN: The ‘Great Reshuffling’ played a big part in pushing home prices higher  The pandemic changed the way people lived and, for many, where they lived. Working from home was a significant driver of this “Great Reshuffling” and accounted for … Continue reading →

Posted in Demographics, Economics, Employment, National Real Estate | 171 Comments

Sorry, you missed the top

Posted on May 29, 2022 by grim

From Fortune: The housing market just slid into a full-blown correction, says top economist Mark Zandi Moody’s Analytics chief economist Mark Zandi is ready to call it. He tells Fortune that we’ve officially moved from a housing boom into a “housing correction.” The … Continue reading →

Posted in Economics, Housing Bubble, New Jersey Real Estate | 21 Comments

At the top now?

Posted on May 27, 2022 by grim

From CNBC: Home listings suddenly jump as sellers worry they may miss out on the red-hot housing market Sharply higher mortgage rates have caused a sudden pullback in home sales, and now sellers are rushing to get in before the … Continue reading →

Posted in Housing Bubble, Mortgages, National Real Estate | 119 Comments

Yeah Right

Posted on May 25, 2022 by grim

From NJ1015: GOP plan for ‘once-in-a-lifetime opportunity’ to cut NJ taxes Assembly Republicans want to cut income taxes as part of the new state budget, part of a four-pronged plan for responding to an unprecedented surge in state revenues and … Continue reading →

Posted in Economics, Employment, New Jersey Real Estate, Politics | 302 Comments

No national price decline?

Posted on May 23, 2022 by grim

From Yahoo Finance: Housing Prices Are Expected to Drop in These Cities — Is Yours One of Them? Housing prices could drop by as much as 10% in many U.S. cities, per Fortune, referencing a new report from Moody’s Analytics. However, the … Continue reading →

Posted in Demographics, Economics, Employment, National Real Estate | 237 Comments

NJ UE Falls to 4.1%

Posted on May 21, 2022 by grim

From InsiderNJ: NJDOL: New Jersey Job Growth Continues in April  New Jersey’s employment growth continued for the 17th consecutive month in April, as non-farm employment increased by 14,800 jobs to reach a seasonally adjusted level of 4,191,500, while NJ’s unemployment rate … Continue reading →

Posted in Economics, Employment, New Jersey Real Estate | 27 Comments

Some go up, some go down

Posted on May 19, 2022 by grim

From the Record: Bergen County home prices up 5.3% in April, while Hudson and Passaic County rise as well A typical Bergen County home listed for $679,000 in April, up 5.3% from a month earlier, an analysis of data from Realtor.com … Continue reading →

Posted in General | 247 Comments

Aaannnddd… They’re Off!

Posted on May 16, 2022 by grim

From the Star Ledger: New home listings up 40%. What the market is like in all 21 N.J. counties. Anyone who has shopped for a house in this red-hot market can tell you, there aren’t many to choose from. The … Continue reading →

Posted in New Jersey Real Estate | 307 Comments

NJ’s new tax rebate

Posted on May 13, 2022 by grim

From Patch: $900M In Tax Relief Could Be Coming To 1.8M NJ Homeowners, Renters Nearly 1.8 million New Jersey homeowners and renters could get some money back from the state under Gov. Phil Murphy’s new property tax relief program proposed … Continue reading →

Posted in New Jersey Real Estate, Politics, Property Taxes | 127 Comments

Back to work?

Posted on May 9, 2022 by grim

From NJ1015: Extended unemployment insurance to expire for 80,000 NJ workers Eighty-eight weeks of unemployment benefits triggered by the coronavirus pandemic are coming to a close. The New Jersey Department of Labor and Workforce Development announced Thursday that approximately 80,000 New Jersey … Continue reading →

Posted in Demographics, Economics, Employment, New Jersey Real Estate | 384 Comments

We’ve been discussing this for the last 10 years…

Posted on May 7, 2022 by grim

From Yahoo Money: Mortgage rates hit highest level in 13 years and could cool housing market Mortgage rates hit their highest level since August 2009 this week, following a sharp increase in the 10-year Treasury yield and continuing a breakneck … Continue reading →

Posted in Economics, Mortgages, National Real Estate | 62 Comments

Worst ever time to buy?

Posted on May 5, 2022 by grim

From Gallup: Record Low in U.S. Say It Is a Good Time to Buy a House Thirty percent of U.S. adults say it is a good time to buy a house, down 23 percentage points from a year ago and … Continue reading →

Posted in Demographics, Economics, Employment, National Real Estate | 208 Comments

To say it’s name is to summon it

Posted on May 3, 2022 by grim

From Marketwatch: Recession is ‘almost inevitable’: former Fed Gov. Ferguson says For months, former Fed Governor Roger Ferguson has worried the risks of a recession were rising. Now, he said, a recession in 2023 is nearly unavoidable, with the chances … Continue reading →

Posted in Economics | 189 Comments

Nothing to worry about here

Posted on May 1, 2022 by grim

From Forbes: The odds of a home price decline hitting your local housing market, as told by one interactive chart While the swift move up in mortgage rates is undoubtedly putting downward pressure on the housing market, it doesn’t mean home … Continue reading →

Posted in Housing Bubble, New Jersey Real Estate | 124 Comments