Monthly Archives: November 2022

Year over year home prices slow

From CNBC: U.S. single-family home prices slow again in September U.S. single-family home prices slowed further in September as higher mortgage rates eroded demand, closely watched surveys showed on Tuesday. The S&P CoreLogic Case Shiller national home price index dropped … Continue reading

Posted in Economics, National Real Estate | 179 Comments

NJ & PA economies looking strong

From the Philly Fed: State Coincident Indexes – October 2022 The Federal Reserve Bank of Philadelphia has released the coincident indexes for the 50 states for October 2022. Over the past three months, the indexes increased in 36 states, decreased … Continue reading

Posted in Economics, Employment | 76 Comments

Jersey City loses their minds

From the Jersey Journal: Jersey City considers barring property owners from selling homes until they replace lead water lines As the Jersey City Municipality Utility Authority works on removing all lead pipes by 2031, the city council could bar property owners from … Continue reading

Posted in Gold Coast, New Jersey Real Estate | 62 Comments

Recession 2023

From Reuters: Factbox: World’s biggest banks see global economy slowing more in 2023, with likely U.S. recession

Posted in Economics | 47 Comments

Kids these days…

From Business Insider: Gen Z’s finances are already tanking, and we’re not even in a recession yet Young Americans are still spending as the holiday shopping season ramps up, but they’re running out of money. With a recessionpotentially looming next year, it arguably couldn’t … Continue reading

Posted in Demographics, Economics | 80 Comments

October housing market hit a wall

From Mansion Global: October Was a Spooky Month for the U.S. Housing Market Would-be buyers are turning their backs on the turbulent U.S. housing market in droves, according to new data released from Redfin on Monday.  The number of pending … Continue reading

Posted in Demographics, Economics, Mortgages, National Real Estate | 66 Comments

Bezos says stop buying crap from Amazon

From Motley Fool: Former Amazon CEO Jeff Bezos Has This Advice for Getting Through a Recession The more money you have in savings leading up to a potential recession, the better equipped you’ll be to get through a period of upheaval. So … Continue reading

Posted in Economics | 44 Comments

October sucked, ignore the price changes

From CNN: US home sales fall for 9th month in a row in October Home sales in the United States declined for the ninth month in a row in October as surging mortgage rates and high prices pushed buyers out … Continue reading

Posted in Economics, Housing Bubble, National Real Estate | 28 Comments

Blip or recession?

From NJ1015: Record streak for New Jersey job growth snapped in October New Jersey’s economy lost jobs in October for the first time in nearly two years, snapping the state’s longest streak of job growth since at least the 1980s. … Continue reading

Posted in Demographics, Economics, Employment, New Jersey Real Estate | 89 Comments

Spread ’em

From the WSJ: Mortgage Rates Are High Because Nobody Is Buying Mortgages Bank of America Corp. BAC -1.69%decrease; red down pointing triangle gobbled up hundreds of billions of dollars of mortgage bonds during the height of the pandemic. But with rates rising, its buying … Continue reading

Posted in Mortgages, National Real Estate | 210 Comments

Deep dive on NJ from the Fed

From Liberty Street Economics @ The NY Fed: A Look at the New York-Northern New Jersey Region’s Pandemic Housing Boom Since the start of the pandemic, home prices in the U.S. have increased by an astonishing 40 percent. The New … Continue reading

Posted in Economics, Employment, Housing Bubble, New Jersey Real Estate, North Jersey Real Estate, NYC | 58 Comments

Never a good time to be a first time buyer

From the NYT: ‘It’s Never Our Time’: First-Time Home Buyers Face a Brutal Market First-time buyers account for the smallest share of the market in the 41 years that the National Association of Realtors has tracked such data. In the year from … Continue reading

Posted in Demographics, Economics, Employment, National Real Estate | 16 Comments

That was fast…

From CNBC: Mortgage rates fall sharply to under 7% after inflation eases Mortgage rates fell sharply Thursday after a government report showed that inflation had cooled in October, prompting a decline in bond yields. The average rate on the 30-year fixed plunged … Continue reading

Posted in Economics, Housing Bubble, Mortgages, National Real Estate | 75 Comments

Not a good time to buy a home…

From CNBC: Consumer confidence in the housing market hits a new low, according to Fannie Mae Rising mortgage rates, high home prices and uncertainty in the overall economy have Americans feeling more pessimistic about the state of the housing market. … Continue reading

Posted in Economics, Housing Bubble, National Real Estate, Where's the Beef? | 129 Comments

Mid-terms 2022!

From the Star Ledger: Everything you need to know about N.J. midterm elections Tuesday, including all House races Get ready, New Jersey. Tuesday is Election Day in the 2022 midterm elections, with all 12 of the state’s seats in the U.S. House of … Continue reading

Posted in Politics | 248 Comments