Monthly Archives: September 2022

Foreclosures coming?

From Patch: NJ Housing Market Troubles Loom As Foreclosures Surge: Reports With inflation still high, foreclosures nearing pre-pandemic levels and a recession potentially looming, new analysis warns that New Jersey has some of the nation’s most vulnerable housing markets. Meanwhile, … Continue reading

Posted in Economics, Foreclosures, Mortgages, New Jersey Real Estate | 14 Comments

UK brings out the big guns to fight recession

From CNBC: UK government dishes out extensive tax cuts as country braces for recession The measures include: Cancellation of a planned rise in corporation tax to 25%, keeping it at 19%, the lowest rate in the G-20. A reversal in … Continue reading

Posted in Economics, Politics | 99 Comments

Not going to get better any time soon

From CNN: Home sales dropped 20% in August from a year ago Home sales declined for the seventh month in a row in August as higher mortgage rates and stubbornly high prices pushed prospective buyers out of the market. Sales of existing … Continue reading

Posted in Economics, Housing Bubble, National Real Estate | 96 Comments

Decision Day

From CNBC: Fed expected to hike rates by three-quarters of a point again, but its forecast may matter most It’s not what the Federal Reserve does, but what it says it could do in the future that will be most … Continue reading

Posted in Economics, Mortgages, National Real Estate | 122 Comments

Why sell?

From the Wall Street Journal: In a Slowing Housing Market, Sellers Ask: Why List a Home When You Can Collect Rent? After Mark and Melissa Reichert moved from California to Dallas, the couple put their home in the Los Angeles … Continue reading

Posted in Economics, National Real Estate | 112 Comments

Back to Work

From CNBC: New York City is getting closer to the tipping point in return to office work Jamie Dimon may have been off by a year, but New York City’s offices are finally starting to fill up. In May 2021, … Continue reading

Posted in Economics, Employment, New Jersey Real Estate, NYC | 102 Comments

Good time to buy?

From Fox Business: Redfin predicts sharpest turn in housing market since 2008 crash If you’re looking to buy a home soon, you’re in luck. After two years of record high sales, data shows the housing market is starting to cool down, but … Continue reading

Posted in Economics, Housing Bubble, Mortgages, National Real Estate | 42 Comments

Recovery

From NJ1015: Jobs in NJ erase pandemic losses — but here’s how economy changed Employment in New Jersey has finally fully recovered from the losses suffered during the economic shutdowns imposed in the first months of the pandemic, according to … Continue reading

Posted in Economics, Employment, New Jersey Real Estate | 124 Comments

6%

From Reuters: U.S. mortgage interest rates top 6% for first time since 2008 The average interest rate on the most popular U.S. home loan rose above 6% for the first time since 2008 and is now more than double the … Continue reading

Posted in Economics, Housing Bubble, Mortgages | 128 Comments

Hang on to your mortgage

From CNBC: Inflation rose 0.1% in August even with sharp drop in gas prices Inflation rose more than expected in August as rising shelter and food costs offset a drop in gas prices, the Bureau of Labor Statistics reported Tuesday. … Continue reading

Posted in Economics, Mortgages, National Real Estate | 56 Comments

Upgrade your house … on Joe

From CBS News: Biden’s inflation law offers up to $14,000 for home upgrades. Here’s how to qualify. President Biden’s Inflation Reduction Act takes on climate change by helping Americansreduce their carbon footprint. A key element in that push is offering up … Continue reading

Posted in Economics, National Real Estate, Where's the Beef? | 206 Comments

The power of positive thinking

From Bloomberg: US Consumers See Home Prices Falling for First Time Since 2020 For the first time in two years, US consumers expect home prices to fall over the next 12 months. An August survey by Fannie Mae found that respondents see … Continue reading

Posted in Economics, Housing Bubble, National Real Estate | 107 Comments

Ain’t gunna happen?

From the Washington Post: It’s a Housing Slump, Not a Crisis I’m in the process of building a house, so I recently met with the head of a real estate brokerage to discuss selling my current home in about a … Continue reading

Posted in Demographics, Economics, Employment, Housing Bubble | 61 Comments

Will services save us from recession?

From Quartz: The service economy is keeping the US from slipping into a recession As US manufacturing activity slows down, spending on services is keeping the American economy afloat, recent data suggests.  Growth in the services sector accelerated in August … Continue reading

Posted in Economics, Employment, Housing Bubble, National Real Estate | 68 Comments

Who pops first?

From MarketWatch: ‘An increasing squeeze on list prices.’ 3 top economists and real estate pros on the housing markets where home prices will drop the most this year Buyers in some markets are already getting — or may soon get … Continue reading

Posted in Demographics, Economics, Employment, National Real Estate | 128 Comments