Monthly Archives: July 2023

Prices Up, Inventory Down, Sales Cratering

Posted on July 30, 2023 by grim

From NJ Business: NJ Home Prices Rise but Inventory Falls Residential housing data released this week from New Jersey Realtors, the state trade association representing more than 61,000 Realtors, continues to point to a slower-than-usual summer market, with low inventory … Continue reading →

Posted in Housing Bubble, New Jersey Real Estate, Where's the Beef? | 85 Comments

Did the housing recession even start?

Posted on July 28, 2023 by grim

From the National Association of Realtors: NAR Economist: ‘Housing Recession Is Over’ Contract signings picked up the pace last month, and home buyers are increasingly facing multiple offer situations. NAR releases its housing forecast for the remainder of the year … Continue reading →

Posted in Economics, Housing Bubble, National Real Estate | 67 Comments

I’m going where there’s no recession

Posted on July 27, 2023 by grim

From Reuters: Fed staff drop US recession forecast, Powell says U.S. Federal Reserve Chair Jerome Powell said on Wednesday the central bank’s staff no longer forecasts a U.S. recession, and “we do have a shot” for inflation to return to … Continue reading →

Posted in Economics, National Real Estate | 33 Comments

Starting to feel a little toppy

Posted on July 26, 2023 by grim

From CNBC: Home prices continue to climb with ‘striking’ regional differences, says S&P Case-Shiller Home prices in May rose for the fourth straight month on the S&P CoreLogic Case-Shiller home price index, but regional differences are widening. The gains come despite … Continue reading →

Posted in Housing Bubble, National Real Estate | 57 Comments

Couldn’t help myself

Posted on July 24, 2023 by grim

From CoreLogic: CoreLogic Unveils an Insightful Look Back at Barbie Dreamhouse Prices from 1962 to 2023

Posted in Humor, National Real Estate, New Development | 60 Comments

The crazy continues

Posted on July 21, 2023 by grim

From CNN: US home prices stay near record high, even as sales drop in June US home prices continued to fall in June compared to a year ago, but that may not be much comfort to home buyers. Even after … Continue reading →

Posted in Housing Bubble, Mortgages, National Real Estate | 65 Comments

Recession fading away?

Posted on July 18, 2023 by grim

From CNBC: Goldman Sachs cuts odds of a U.S. recession in the next year Goldman Sachs revised down the odds of a U.S. recession happening in the next 12 months, cutting the probability down to 20% from 25% on the … Continue reading →

Posted in Economics, Employment, National Real Estate | 216 Comments

Find somewhere else to live

Posted on July 17, 2023 by grim

From CBS News: In ‘warfare against renters,’ homeowners fight affordable housing push At a packed City Hall meeting, one resident after another stood before the City Council of the suburban Phoenix city of Surprise pleading with officials to block the construction … Continue reading →

Posted in Crisis, Demographics, National Real Estate, New Development | 14 Comments

Congestion pricing hurts, until it helps

Posted on July 16, 2023 by grim

From ROINJ: The next ‘Stay in N.J.’ program: Why congestion tax hurts N.J. commuters — but could ultimately help N.J. economy New York City officials say their congestion pricing system will collect billions for mass transit — and discourage drivers … Continue reading →

Posted in Demographics, Economics, Employment, New Development, New Jersey Real Estate, NYC | 24 Comments

NJ takes #2 spot for May

Posted on July 12, 2023 by grim

From CoreLogic: CoreLogic: US Annual Home Price Growth Drops to the Lowest Rate in 11 Years in May CoreLogic®, a leading global property information, analytics and data-enabled solutions provider, today released the CoreLogic Home Price Index (HPI™) and HPI Forecast™ for May 2023. … Continue reading →

Posted in Economics, Housing Bubble, National Real Estate, New Jersey Real Estate | 152 Comments

Inflation hits NJ colleges

Posted on July 11, 2023 by grim

From the Star Ledger: 6% tuition increase approved for Rutgers, more than twice last year’s hike Tuition and fees at Rutgers will increase by 6% in the next academic year under a budget the state university’s board of governors passed … Continue reading →

Posted in New Jersey Real Estate, Unrest | 32 Comments

Where you shouldn’t buy

Posted on July 10, 2023 by grim

From Yahoo Finance: These Are the 10 Most Overpriced Housing Markets in the U.S. — 5 Are in Florida 10. Nashville, Tennessee 9. Tampa, Florida 8. Deltona, Florida 7. Detroit 6. Palm Bay, Florida 5. Lakeland, Florida 4. Memphis, Tennessee … Continue reading →

Posted in Demographics, Economics, Employment, Housing Bubble, National Real Estate, Where's the Beef? | 22 Comments

Mortgages still strong

Posted on July 9, 2023 by grim

From CoreLogic: Loan Performance Insights – June 2023 30 Days or More Delinquent – National In April 2023, 2.8% of mortgages were delinquent by at least 30 days or more including those in foreclosure. This represents a 0.1 percentage point … Continue reading →

Posted in Economics, Foreclosures, Housing Bubble, Mortgages, National Real Estate | 4 Comments

Welcome Back

Posted on July 7, 2023 by grim

From Mortgage News Daily: Highest Mortgage Rates Since November It seems like just last week (because it was) we were commenting on the extreme LACK of volatility in the mortgage rate landscape.  Starting last Thursday, things have changed quickly, and … Continue reading →

Posted in Economics, Mortgages, National Real Estate | 75 Comments

Room to run?

Posted on July 6, 2023 by grim

From Yahoo Finance: Housing expert: ‘Convincing price rebound to come next year’ Home prices are expected to decline slightly this year before growing again in earnest in 2024. “We had been among the more bullish outlooks for this year for … Continue reading →

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