Monthly Archives: March 2023

The old NAR is back..

Posted on March 12, 2023 by grim

From Insider: A top real estate economist explains why a housing rebound is coming as rising sales and lack of supply look poised to lift home prices While some experts have warned of an impending US housing crash, Nadia Evangelou, senior … Continue reading →

Posted in Economics, Housing Bubble, National Real Estate | 82 Comments

Suck it up

Posted on March 10, 2023 by grim

From the Record: Is $500K the new $300K? What you’ll pay for a starter home in North Jersey Newlyweds Joseph and Cheryl Petta just wanted to buy their first home in North Jersey. It was a disheartening year and a … Continue reading →

Posted in Demographics, Economics, Housing Bubble, New Jersey Real Estate | 197 Comments

Welcome to the Top 10

Posted on March 9, 2023 by grim

From CoreLogic: US Home Price Insights – March 2023 January 2023 National Home Prices Home prices nationwide, including distressed sales, increased year over year by 5.5% in January 2023 compared with January 2022. On a month-over-month basis, home prices declined … Continue reading →

Posted in Economics, Housing Bubble, National Real Estate, New Jersey Real Estate | 110 Comments

Will we see 8?

Posted on March 8, 2023 by grim

From Mortgage News Daily: Mortgage Rates Head Back Over 7% After Powell Testimony Jerome Powell is the Chair of the Federal Reserve–the entity that sets overnight lending rates in an attempt to keep inflation in a low, stable range.  Inflation … Continue reading →

Posted in Economics, Housing Bubble, Mortgages, National Real Estate | 136 Comments

NJ Economic Outlook

Posted on March 7, 2023 by grim

From Charles Steindel at the Steve Sweeny Center for Public Policy at Rowan: Multi-Year Budget Workgroup: New Jersey Economic Outlook New Jersey’s economy did well in 2022, setting new highs in jobs, output, and income, generally matching or exceeding growth in … Continue reading →

Posted in Demographics, Economics, Employment, New Jersey Real Estate | 90 Comments

Finally, prices fall…

Posted on March 4, 2023 by grim

From the NY Post: US home prices just did something they haven’t done since 2012 US home prices in February posted their first year-over-year decline in more than a decade as surging mortgage rates put the squeeze on the market. … Continue reading →

Posted in Economics, Employment, Housing Bubble, Mortgages, National Real Estate | 55 Comments

Back to 7%

Posted on March 3, 2023 by grim

From CNBC: Mortgage rates jump back over 7% as inflation fears drive yields higher The average rate on the 30-year fixed mortgage jumped back over 7% on Thursday, rising to 7.1%, according to Mortgage News Daily. Growing fears that inflation is … Continue reading →

Posted in Mortgages, National Real Estate | 77 Comments

Billion Dollar Jersey Stimulus?

Posted on March 2, 2023 by grim

From TAP: Nearly 1.7 Million New Jerseyans Applied for the ANCHOR Property Tax Relief Program Approximately 1.7 million New Jersey homeowners and renters applied for the first year of the State’s historic ANCHOR property tax relief program, announced Governor Phil … Continue reading →

Posted in Economics, New Jersey Real Estate, Politics, Property Taxes | 43 Comments

We’re spending more … for you!

Posted on March 1, 2023 by grim

From Politico: Murphy outlines $53B plan for ‘Next New Jersey’ in budget speech Gov. Phil Murphy on Tuesday outlined a $53.1 billion budget that supports what he calls the “Next New Jersey” as the state faces the prospect of a recession after … Continue reading →

Posted in Economics, New Jersey Real Estate, Politics, Property Taxes | 65 Comments