Monthly Archives: September 2022

Where o’ where will housing crash?

Posted on September 30, 2022 by grim

From Marketwatch: Most economists see the U.S. turning into a buyer’s housing market in 2023. Here’s where you’ll see the biggest declines in value. Frustrated by the housing market? Housing experts say they’re expecting the market to tip back into … Continue reading →

Posted in Housing Bubble, National Real Estate | 133 Comments

So much for the mortgage industry

Posted on September 29, 2022 by grim

From CNBC: Mortgage refinancing drops to a 22-year low as interest rates surge even higher Mortgage rates drove even higher last week after the Federal Reserve signaled it would continue its aggressive action to cool inflation. That, and rising uncertainty … Continue reading →

Posted in Economics, Mortgages, National Real Estate | 78 Comments

Poof

Posted on September 28, 2022 by grim

From CNBC: Home prices cooled in July at the fastest rate in the history of S&P Case-Shiller Index U.S. home prices cooled in July at the fastest rate in the history of the S&P CoreLogic Case-Shiller Index, according to a … Continue reading →

Posted in Demographics, Economics, Employment, Housing Bubble, National Real Estate | 69 Comments

“More remote work leads to higher house prices and rents”

Posted on September 27, 2022 by grim

From Bloomberg: Remote Work Drove Over 60% of House-Price Surge, Fed Study Finds The shift to working from home drove more than half of the increase in house and rent prices during the pandemic and will likely drive up costs … Continue reading →

Posted in Demographics, Economics, Employment, Housing Bubble, National Real Estate | 86 Comments

The starter home may never exist again

Posted on September 26, 2022 by grim

From the NYT: Whatever Happened to the Starter Home? As recently as the 1990s, when Jason Nageli started off, the home-building industry was still constructing what real-estate ads would brightly call the “starter home.” In the Denver area, he sold … Continue reading →

Posted in Demographics, Economics, National Real Estate | 50 Comments

Foreclosures coming?

Posted on September 25, 2022 by grim

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 | 18 Comments

UK brings out the big guns to fight recession

Posted on September 23, 2022 by grim

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

Posted on September 22, 2022 by grim

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

Posted on September 21, 2022 by grim

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?

Posted on September 20, 2022 by grim

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

Posted on September 19, 2022 by grim

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?

Posted on September 18, 2022 by grim

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

Posted on September 16, 2022 by grim

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%

Posted on September 15, 2022 by grim

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

Posted on September 14, 2022 by grim

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