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Monthly Archives: April 2023
One again, f&ck you, pay me.
From ScotusBlog: Justices appear likely to side with homeowner in foreclosure dispute Geraldine Tyler, a 94-year-old grandmother, lost her Minneapolis condo when she failed to pay the property taxes for several years. Tyler does not dispute that Hennepin County could … Continue reading
Posted in National Real Estate, Property Taxes
40 Comments
Paycheck to Paycheck
From the Record: Report: 37% of working families in NJ struggled to make ends meet during COVID pandemic A new report shows that 37% of New Jersey households — 1.3 million families — were not able to afford basic necessities … Continue reading
Posted in Demographics, Economics, Employment, New Jersey Real Estate
65 Comments
It’s that kind of market?
From, uh, does it matter? Tips To Win a Bidding War In a seller’s market, when demand is high and inventory is low, buyers often have to go above and beyond to make sure their offer stands out from the … Continue reading
Posted in Housing Bubble, New Jersey Real Estate
88 Comments
Tick tick tick
From DSNews: Q1 Foreclosure Activity Trends Upward ATTOM’s Q1 2023 U.S. Foreclosure Market Reporthas found that a total of 95,712 U.S. properties had foreclosure filings during Q1 of 2023, up 6% from Q4 of 2022, and up 22% year-over-year. The … Continue reading
Posted in Foreclosures, National Real Estate
180 Comments
NJ losing jobs
From the APP: NJ jobs shrinking? Employers still hiring? Making sense out of economic crystal ball New Jersey lost 2,600 jobs in March and its unemployment rate remained steady at 3.5%, the state Department of Labor and Workforce Development said … Continue reading
Posted in Economics, New Jersey Real Estate
30 Comments
Do we go negative now?
From Redfin: Home Prices Fell 3% in March—Biggest Annual Drop in Over a Decade The median U.S. home sale price fell 3.3% in March to $400,528, the largest year-over-year drop since 2012. That follows February’s 1.2% dip, which was the first annual … Continue reading
Posted in Housing Bubble, Mortgages, National Real Estate
139 Comments
Locked in is the new priced out
From DS News: Fannie Mae: ‘Lock-in Effect’ Amplifying Housing Shortages While the annual rate of increase in home prices slowed dramatically as a result of inflated interest rates, single-family home prices increased at a non-seasonally adjusted annual rate of 4.7% from … Continue reading
Posted in Demographics, Mortgages, National Real Estate
73 Comments
Let the borrowing begin!
From the Star Ledger: N.J. credit rating gets two more upgrades from Wall Street as state coffers overflow New Jersey’s credit rating has won two more upgrades from Wall Street’s major rating agencies, bringing the number of upgrades to three … Continue reading
Posted in Economics, New Jersey Real Estate, Politics
73 Comments
Fastest selling markets in NJ (Feb edition)
From Redfin: New Jersey Towns Where Homes are Still Selling Fast According to RedFin‘s February 2023 data, it takes 61 days to sell a home in New Jersey, which is an 11 day increase from 2022. We’ve compiled a list of … Continue reading
Posted in Demographics, Economics, Housing Bubble, New Jersey Real Estate
53 Comments
Back in the pool!
From CNBC: Homebuyer mortgage demand jumps after interest rates drop to two-month low Today’s housing market is so pricey that homebuyers are highly sensitive to any distinct moves in mortgage rates. And that’s what happened last week. Rates dropped, and … Continue reading
Posted in Demographics, Economics, Housing Bubble, Mortgages
122 Comments
Who can afford all this?
From Stacker: The 50 cities in New Jersey where home prices are rising the fastest
Posted in Demographics, Economics, Housing Bubble, New Jersey Real Estate
19 Comments
Welcome to the party
From Axios: Millennial homeowners outnumber renters for the first time Millennial homeowners outnumbered millennial renters for the first time last year, despite creeping interest rates and a tight real estate market. Driving the news: Nearly 52% of the first generation to grow … Continue reading
Posted in Demographics, Economics, National Real Estate
38 Comments
Don’t worry about commercial real estate…
From Insider: Most of Wall Street is panicking about commercial real estate – but Goldman Sachs says there’s little chance it triggers a financial crisis It seems like there are three words on the lips of every investor now that … Continue reading
Posted in Economics, Mortgages, National Real Estate, Risky Lending
24 Comments
Heating up!
From CNN: Mortgage rates fall for the fourth week in a row Homebuyers benefited from another week of falling mortgage rates, with the average rate dropping for the fourth week in a row, according to data from Freddie Mac released … Continue reading
Posted in Economics, Mortgages, National Real Estate
59 Comments