Monthly Archives: September 2023

Sorry about your paycheck

Posted on September 13, 2023 by grim

From the WSJ: U.S. Incomes Fall for Third Straight Year Surging inflation gobbled up household income gains last year, making 2022 the third straight year in which Americans saw their living standards eroded by rising prices and pandemic disruptions. Americans’ inflation-adjusted … Continue reading →

Posted in Crisis, Demographics, Economics, Employment, National Real Estate | 57 Comments

NJ DOM on track to break new lows

Posted on September 12, 2023 by grim

From Redfin: New-Jersey Housing Market Overview

Posted in Demographics, Economics, Housing Bubble, New Jersey Real Estate | 78 Comments

New home prices might not be what they seem

Posted on September 11, 2023 by grim

From Wolf Street: Mortgage-Rate Buydowns by Homebuilders Are Now All the Rage to Prop Up Sales, Lowering Effective House Prices in a Big Way, but Don’t Get Picked Up by House Price Data Homebuilders don’t have the luxury of outwaiting … Continue reading →

Posted in Economics, Mortgages, National Real Estate, New Development, Risky Lending | 35 Comments

Affordable? Not today.

Posted on September 9, 2023 by grim

From Yahoo Finance: US Housing Affordability Remains at a Record Low, NAR Says The National Association of Realtors housing affordability index was unchanged at 87.8 in July, matching the lowest level in data back to 1989. A level of 100 … Continue reading →

Posted in Economics, Housing Bubble, Mortgages, National Real Estate | 86 Comments

Lazy millennials already gave up

Posted on September 8, 2023 by grim

From Redfin: Redfin Survey: 1 in 5 Millennial Respondents Believe They’ll Never Own a Home Nearly one of every five (18%) millennials and 12% of Gen Zers who replied to a recent housing survey believe they will never own a … Continue reading →

Posted in Crisis, Demographics, Economics, Employment, National Real Estate | 111 Comments

What happens to NYC rents now?

Posted on September 6, 2023 by grim

From the NYT: New York City’s Crackdown on Airbnb Is Starting. Here’s What to Expect. New York City officials on Tuesday are expected to start enforcing strict new regulations that limit residents’ ability to rent out homes through platforms like … Continue reading →

Posted in Demographics, Economics, New Jersey Real Estate, NYC | 159 Comments

Pay up or walk, suckers.

Posted on September 5, 2023 by grim

From the Star Ledger: Timing was key in sale of N.J. home for $205K over asking price Location may be the key word in real estate but, like anything else, timing can also make a difference. A house in Closter … Continue reading →

Posted in Demographics, Economics, Employment, Housing Bubble, New Jersey Real Estate | 63 Comments

Falling out of love with the shore

Posted on September 4, 2023 by grim

From the Star Ledger: Here’s how the Jersey Shore rental market was this summer and a reminder that it’s not over yet For the first time in a few years, you might’ve gotten a deal or picked up a prime … Continue reading →

Posted in Economics, New Jersey Real Estate, Price Reduced, Shore Real Estate | 26 Comments

Buy to Rent Bubble

Posted on September 2, 2023 by grim

From Visual Capitalist: The Monthly Cost of Buying vs. Renting a House in America

Posted in Housing Bubble | 68 Comments