Monthly Archives: December 2022

Predictions 2023!

Posted on December 31, 2022 by grim

Break out your crystal ball and let’s hear ’em! Recession / Economic Real Estate Stocks/Securities Commodities Inflation

Posted in General | 66 Comments

Home price gains continue to slow

Posted on December 28, 2022 by grim

From the WSJ: Home Prices Fell in October for Fourth Straight Month’ Home prices declined in October from the previous month as higher mortgage interest rates continued to weigh on home-buying demand. The S&P CoreLogic Case-Shiller National Home Price Index, which measures … Continue reading →

Posted in Economics, Housing Bubble, Mortgages, National Real Estate | 208 Comments

Evictions keep piling up

Posted on December 27, 2022 by grim

From the Star Ledger: NJ continues to see backlog in eviction cases, but there are improvements If a landlord filed to evict a tenant in Essex County this year, there’s a good chance the court hasn’t yet turned to the … Continue reading →

Posted in Economics, National Real Estate | 31 Comments

Enough slacking, get back to work

Posted on December 26, 2022 by grim

From NJ1015: Looking for work? New Jersey is the 4th best state to get a job There are so many people out of work across the country, it’s good to know that you can get a job in New Jersey … Continue reading →

Posted in Economics, Employment, New Jersey Real Estate | 11 Comments

Sales Plunge in November

Posted on December 23, 2022 by grim

From Reuters: U.S. existing home sales fall for 10th straight month in November U.S. existing home sales slumped to a 2-1/2 year low in November as the housing market continued to be squeezed by higher mortgage rates. Existing home sales … Continue reading →

Posted in Demographics, Economics, Employment, Housing Bubble, National Real Estate | 120 Comments

You’ll all be famous

Posted on December 22, 2022 by grim

From the Star Ledger: Netflix unveils huge $903M plan for N.J. production studios at ex-military base Netflix unveiled plans Wednesday for an investment of $903 million into a production facility at the former Fort Monmouth in New Jersey that would … Continue reading →

Posted in Economics, New Development, New Jersey Real Estate | 111 Comments

Chasing the Market

Posted on December 21, 2022 by grim

From Mansion Global: Inventory in New York City Rose in November, as Did Price Cuts After nearly three topsy-turvy years, the real estate market in New York City has started to look more like pre-pandemic times, according to a Tuesday … Continue reading →

Posted in Housing Bubble, NYC | 115 Comments

NJ UE 3.4%

Posted on December 20, 2022 by grim

From NJ Business Magazine: NJ’s Unemployment Rate Remains Steady at 3.4% The state’s unemployment rate remained steady at 3.4% in November. Employment reached a seasonally adjusted level of 4,257,900, with nonfarm employment increasing by 11,700 jobs for the month on … Continue reading →

Posted in Economics, Employment, New Jersey Real Estate | 128 Comments

Worrying our way into, and out of, a recession

Posted on December 19, 2022 by grim

From CNN: Why recession fears are back: Americans are losing faith From the executive suite to the grocery aisles to the halls of the Federal Reserve, the big question is: Can red-hot inflation be vanquished without tipping the economy into … Continue reading →

Posted in Demographics, Economics, Employment, National Real Estate | 62 Comments

Flipper profits falling fast

Posted on December 16, 2022 by grim

From CNBC: Home flipping profits drop at the fastest pace in over a decade As the housing market cools quickly, house flippers are finding it harder to make fast profits. In the third quarter, gross flipping profit, which is the … Continue reading →

Posted in Housing Bubble, National Real Estate | 130 Comments

Fed raises, mortgage rates flat

Posted on December 15, 2022 by grim

From Mortgage News Daily: Mortgage Rates Remain Near Recent Lows Despite Fed’s Rate Hike It’s often said here, but bears repeating: by the time the Fed officially announces a rate hike, that rate hike is old news and of no … Continue reading →

Posted in Economics, Mortgages, National Real Estate | 95 Comments

$14.13

Posted on December 14, 2022 by grim

From the Daily Princetonian: New Jersey’s minimum wage to increase to $14.13/hour As of Jan. 1, the statewide minimum wage in New Jersey will increase to $14.13 per hour, according to the New Jersey Department of Labor & Workforce Development. This change … Continue reading →

Posted in Economics, Employment, New Jersey Real Estate | 87 Comments

Pretty sure this means no recession…

Posted on December 13, 2022 by grim

From Motley Fool: 98% of CEOs Expect a Recession in 12-18 Months Uncertainty has been one of the few consistent themes of recent years. It’s not surprising given that we’re still navigating the aftermath of what was an unprecedented pandemic. … Continue reading →

Posted in Demographics, Economics, Employment, National Real Estate | 97 Comments

At least you can enjoy the weather

Posted on December 12, 2022 by grim

On behalf of the snow, from the LA Times: As home prices decline, Southern Californians who bought at the peak are nervous  Surging mortgage interest rates threatened to squash Michael and Christine Hawkins’ dream of home ownership. But this fall … Continue reading →

Posted in Housing Bubble, National Real Estate | 100 Comments

More inventory? Nah.

Posted on December 11, 2022 by grim

From Fox Business: Housing turnover will drop to lowest rate since the 80s, economist projects Home sale activity next year may reach the lowest point since the early 1980s as households buying or selling real estate retreat from the market, predicts Redfin … Continue reading →

Posted in Housing Bubble, National Real Estate | 16 Comments