Monthly Archives: February 2023

The mighty will fall

Posted on February 28, 2023 by grim

From the NY Post: Home prices set for double-digit plunge in major Western US cities: Goldman Sachs Four US cities that experienced housing booms during the COVID-19 pandemic are set for major declines in home prices by the end of next year, … Continue reading →

Posted in Economics, Employment, Housing Bubble, Mortgages, National Real Estate | 54 Comments

But Murphy said we should be happy to pay

Posted on February 27, 2023 by grim

From Patch: Wyckoff Rep. Sounds Alarm On ‘Exodus’ Of Jobs, People From New Jersey Fifth District Rep. Josh Gottheimer is sounding the alarm on what he said is an “exodus” of jobs and people from New Jersey. In his State … Continue reading →

Posted in Demographics, Economics, Employment, New Jersey Real Estate, Politics | 35 Comments

Can’t even afford the trailer park

Posted on February 26, 2023 by grim

From the NY Post: Inside the Hamptons trailer park that’s become a playground for millionaires In the summer of 1998, Ken Hilderbrandt was contemplating buying a bigger boat — or a beachfront trailer on a wave-swept bluff in Montauk overlooking … Continue reading →

Posted in Demographics, Economics, National Real Estate, Philly | 17 Comments

Liquor up

Posted on February 24, 2023 by grim

From InsiderNJ: Governor Murphy Holds Roundtable Discussion on Modernizing New Jersey’s Antiquated Liquor Licensing Laws Governor Phil Murphy today held a roundtable discussion where he met with stakeholders to gather input and learn from diverse perspectives for his new legislative … Continue reading →

Posted in New Development, New Jersey Real Estate | 75 Comments

You should be happy to pay NJ taxes

Posted on February 23, 2023 by grim

From Patch: NJ Has Nation’s Highest Property Taxes, By A Long Shot: Report Life in New Jersey tends to guarantee two things: death and high property taxes. The Garden State pays the nation’s highest rate on property taxes by a … Continue reading →

Posted in New Jersey Real Estate, Politics, Property Taxes | 98 Comments

Home Sales Down Again

Posted on February 22, 2023 by grim

From CNBC: U.S. home sales post 12th straight monthly decline; house price inflation cools U.S. existing home sales dropped to the lowest level in more than 12 years in January, but the pace of decline slowed, raising cautious optimism that … Continue reading →

Posted in Economics, Housing Bubble, National Real Estate | 102 Comments

No recession for the rich

Posted on February 21, 2023 by grim

From Mansion Global: Manhattan’s Luxury Real Estate Market Posts Best Week Since May 2022 Last week’s unseasonably warm temperatures may have helped warm up Manhattan’s luxury residential real estate market.  There were 31 properties priced at $4 million or more … Continue reading →

Posted in Demographics, Economics, NYC | 113 Comments

Slow (not) down

Posted on February 19, 2023 by grim

From CNN: Here are the US cities where home prices are actually falling Home prices are going up across the country — in aggregate. Looking at individual markets, however, some are showing prices have fallen from a year ago. Single-family … Continue reading →

Posted in Economics, Housing Bubble, National Real Estate, Price Reduced | 53 Comments

Do you have to pay it back?

Posted on February 17, 2023 by grim

From CNBC: Consumer debt hits record $16.9 trillion as delinquencies also rise Consumer debt hit a fresh record at the end of 2022 while delinquency rates rose for several types of loans, the New York Federal Reserve reported Thursday. Debt … Continue reading →

Posted in Economics, National Real Estate, Risky Lending | 53 Comments

Hottest Markets

Posted on February 15, 2023 by grim

From the US News & World Report: The Hottest Housing Markets in the U.S. Now that the demand for housing is showing renewed signs of life amid lower mortgage rates, declining inflation and a reduced risk of recession, it’s certainly an opportune time to analyze which … Continue reading →

Posted in Demographics, Economics, National Real Estate | 173 Comments

Just the beginning?

Posted on February 13, 2023 by grim

From DSNews: January Foreclosure Filings Up 36% YoY Foreclosure volume continues in America, with year-end totals reaching 31,557, which includes default notices, scheduled auctions, or bank repossessions, a 36% increase compared to the previous year. The numbers reported in January … Continue reading →

Posted in Economics, Housing Bubble, Mortgages, National Real Estate, Risky Lending | 129 Comments

You still can’t afford it

Posted on February 11, 2023 by grim

From Bankrate: Home prices are down — but not enough to ease affordability Home prices are still high. But they’re not rising quite as much. Nearly 90 percent of the country’s metro areas saw single-family home prices rise in the … Continue reading →

Posted in Economics, Housing Bubble, National Real Estate | 56 Comments

Who needs to buy?

Posted on February 10, 2023 by grim

From NJ1015: Here’s where millionaires choose to rent in New Jersey There are over 100 millionaires that rent in one city in New Jersey. If you’ve been paying any attention at all to real estate and building trends in this … Continue reading →

Posted in Demographics, Economics, Employment, New Jersey Real Estate, NYC | 96 Comments

Corelogic December Housing Market Data

Posted on February 9, 2023 by grim

From CoreLogic: U.S. Home Price Insights – February 2023 December 2022 National Home Prices Home prices nationwide, including distressed sales, increased year over year by 6.9% in December 2022 compared with December 2021. On a month-over-month basis, home prices declined … Continue reading →

Posted in Economics, Housing Bubble, Housing Recovery, Mortgages, National Real Estate | 87 Comments

Sorry buyers…

Posted on February 8, 2023 by grim

From Bloomberg: Buyers Are Flocking to NYC’s Suburbs. Too Bad There Aren’t Many Homes to Sell. In the midst of the worst US housing slump in a decade, a wave of finance and tech layoffs and drumbeats of a potential recession, … Continue reading →

Posted in Demographics, Economics, Employment, New Jersey Real Estate, NYC | 103 Comments