Monthly Archives: March 2023

Why wouldn’t they?

Posted on March 31, 2023 by grim

From CNBC: More home sellers are sitting out of the spring housing market It might seem like a great time to list your home for sale. Buyers are flooding back into the market, mortgage rates have fallen off their recent … Continue reading →

Posted in Housing Bubble, Mortgages, National Real Estate | 111 Comments

Big Discount?

Posted on March 30, 2023 by grim

From the Star Ledger: More N.J. homes are selling below asking price List price and what buyers actually paid for a home in New Jersey have been wildly different for the past few years. Bidding wars that drove up sales … Continue reading →

Posted in Demographics, Economics, Employment, New Jersey Real Estate | 82 Comments

Home prices continue falling

Posted on March 29, 2023 by grim

From CNBC: Home prices cool in January, even falling in some cities, S&P Case-Shiller says Home prices cooled in January, up only 3.8% nationally than they were a year earlier, according to the S&P CoreLogic Case-Shiller U.S. National Home Price … Continue reading →

Posted in Economics, Housing Bubble, Mortgages, National Real Estate | 80 Comments

Spring!

Posted on March 27, 2023 by grim

From Fox News: Spring home buying season shows ‘steady demand’ as mortgage rates slip for second week The spring home buying season is showing “steady demand” as mortgage rates slip for a second week in a row.  On Wednesday, the Federal … Continue reading →

Posted in Housing Bubble, Mortgages, National Real Estate | 158 Comments

NJ adds 4,600 jobs in Feb

Posted on March 24, 2023 by grim

From the NJ Department of Labor and Workforce Development: NJ’s Strong Labor Market Continues in February New Jersey continued to experience a strong labor market, preliminary estimates produced by the U.S. Bureau of Labor Statistics show, with 4,600 nonfarm jobs … Continue reading →

Posted in Demographics, Economics, Employment, New Jersey Real Estate | 116 Comments

Don’t sell, rent.

Posted on March 23, 2023 by grim

From Fortune: Homeowners who held onto a 3% mortgage rate are becoming ‘accidental landlords’ The era of lower-than-ever mortgage rates is long gone, and it’s been replaced with rates hovering around 7%. But homeowners who locked in lower ratesbefore or during … Continue reading →

Posted in Economics, Housing Bubble, Mortgages, National Real Estate | 140 Comments

NAR: First price decline in 11 years

Posted on March 22, 2023 by grim

From CNBC: Home sales spike 14.5% in February as the median price drops for the first time in over a decade Sales of previously owned homes rose 14.5% in February compared with January, according to a seasonally adjusted count by … Continue reading →

Posted in Economics, Housing Bubble, Mortgages, National Real Estate | 93 Comments

Fed to take a breather?

Posted on March 21, 2023 by grim

From the Hill: Goldman Sachs expects pause in Fed’s interest rate hikes Analysts at Goldman Sachs expect the Federal Reserve to pause its interest rate hikes this week, citing concerns about uncertainty in the global financial system spurred by a … Continue reading →

Posted in General | 109 Comments

And then there were 3

Posted on March 20, 2023 by grim

From CNN: UBS is buying Credit Suisse in bid to halt banking crisis Switzerland’s biggest bank, UBS, has agreed to buy its ailing rival Credit Suisse in an emergency rescue deal aimed at stemming financial market panic unleashed by the failure of … Continue reading →

Posted in Crisis | 53 Comments

Pandemic boomtowns get crushed

Posted on March 18, 2023 by grim

From the Real Deal: US home prices drop annually for first time in 12 years How long has it been since the median U.S home price fell year-over-year? Hint: Gotye’s “Somebody That I Used to Know” was the top song, … Continue reading →

Posted in Economics, Housing Bubble, National Real Estate | 77 Comments

Can’t buy? Just rent!

Posted on March 17, 2023 by grim

From the NY Post – Hat Tip ChiFi: North Jersey beats out NYC for the hottest rental market in the US As interest rates remain high to combat languishing inflation, warding off potential home buyers, the rental market has been … Continue reading →

Posted in Demographics, Economics, New Jersey Real Estate | 93 Comments

NJ – The Independent State

Posted on March 16, 2023 by grim

From WalletHub: 2023’s Most & Least Federally Dependent States Rank State Total Score State Residents’ Dependency State Government’s Dependency 1 Alaska 83.18 3 2 2 West Virginia 76.02 1 9 3 Mississippi 71.31 7 5 4 Kentucky 70.95 5 10 … Continue reading →

Posted in Economics, Politics | 124 Comments

Post Pandemic Job Recovery

Posted on March 15, 2023 by grim

From the State of NJ: Updated Labor Data: New Jersey Experienced Higher Employment Growth Over Past 2 Years Than First Reported TRENTON – The state’s job market performed better than initially estimated over the past two years, with 34,000 additional jobs … Continue reading →

Posted in Economics, Employment, New Jersey Real Estate | 114 Comments

Mortgage rates drop

Posted on March 14, 2023 by grim

From CNBC: Mortgage rates tumble in the wake of bank failures The average rate on the popular 30-year fixed mortgage dropped to 6.57% on Monday, according to Mortgage News Daily. That’s down from a rate of 6.76% on Friday and a … Continue reading →

Posted in Economics, Housing Recovery, Mortgages, National Real Estate | 115 Comments

The bailout that’s not a bailout…

Posted on March 13, 2023 by grim

From CNBC: Bill Ackman says U.S. did the ‘right thing’ in protecting SVB depositors. Not everyone agrees Billionaire investor Bill Ackman said the U.S. government’s action to protect depositors after the implosion of Silicon Valley Bank is “not a bailout” and … Continue reading →

Posted in Economics, Politics, Risky Lending | 155 Comments