Monthly Archives: November 2023

NYC Metro sees strong price increase in September

Posted on November 30, 2023 by grim

From MarketWatch: Home prices continued ascent in September despite soaring mortgage rates: Case-Shiller Home prices showed no signs of slowing in September despite the record-high mortgage rates that rendered housing unaffordable for many Americans, according to the latest S&P CoreLogic Case-Shiller … Continue reading →

Posted in Economics, Housing Bubble, National Real Estate | 37 Comments

$75k or $525k?

Posted on November 28, 2023 by grim

Ohhhhh, Millennials… From the Messenger: Millennials Say Over $500K Would Buy Them Happiness: Report Each generation has a different idea of the cost of happiness. For millennials, more than $500,000 annually would be the key. In a survey conducted by The Harris Poll, 2,034 … Continue reading →

Posted in Crisis, Demographics, Economics, Humor | 138 Comments

Three’s Company is cool again

Posted on November 27, 2023 by grim

From CNBC: Gen Z, millennials are ‘house hacking’ to become homeowners in a tough market. How the strategy can help Gen Z and millennials are “hacking” the housing market as high prices and interest rates make affordability difficult. The term “house hacking” refers … Continue reading →

Posted in Crisis, Demographics, Housing Bubble, National Real Estate | 30 Comments

Return to normal in the spring?

Posted on November 26, 2023 by grim

From HousingWire: What will lower mortgage rates do to spring housing inventory? Lower mortgage rates tend to take housing supply off the market and demand has been picking up lately as rates have fallen. However, the recent drop in housing … Continue reading →

Posted in Economics, Housing Bubble, National Real Estate | 10 Comments

Will real estate end 2024 lower?

Posted on November 25, 2023 by grim

From Business Insider: Home prices are poised to drop as the frozen housing market thaws, 2 top experts say House prices may be headed lower, dealing a blow to sellers but providing relief to buyers, two experts say. “The only … Continue reading →

Posted in Demographics, Economics, Housing Bubble, National Real Estate | 27 Comments

Tippy Top?

Posted on November 22, 2023 by grim

From CNBC: Home sales fell to a 13-year low in October as prices rose Sales of previously owned homes were 4.1% lower in October compared with September, running at a seasonally adjusted annualized rate of 3.79 million units, according to … Continue reading →

Posted in Economics, Housing Bubble, Mortgages, National Real Estate | 79 Comments

Industrial is hot hot hot

Posted on November 21, 2023 by grim

From the Daily Record: Large East Hanover industrial park sells for whopping $217.5 million In what is being touted as New Jersey’s biggest industrial real estate deal of the year, 1.2 million square feet of light industrial space in East … Continue reading →

Posted in Economics, New Jersey Real Estate | 76 Comments

Where NJ makes it’s money

Posted on November 20, 2023 by grim

From Statista: Real value added to the gross domestic product of New Jersey in the United States in 2022, by industry 

Posted in Demographics, Economics, Employment, New Jersey Real Estate | 71 Comments

Free and Clear

Posted on November 18, 2023 by grim

From Daily Mail: Mortgage-free America! Share of US homes owned outright rises to an all-time high thanks to ageing boomers paying off their record-low deals The share of US homes that are owned outright has increased by 5 percent over … Continue reading →

Posted in Demographics, Economics, National Real Estate | 23 Comments

Somebody’s not happy

Posted on November 17, 2023 by grim

From the NYT: The Fed Has Put Our Housing Market in Jeopardy The Federal Reserve’s relentless attack on inflation is jeopardizing our housing market. The resulting damage is not only having an impact on a critical engine of economic growth … Continue reading →

Posted in Crisis, Demographics, Economics, Housing Bubble, Mortgages, National Real Estate | 75 Comments

Tech’s outsized impact on real estate speculation

Posted on November 16, 2023 by grim

From Realtor.com: Reassessing the ‘Amazon Effect’ on Home Prices in One U.S. Metro Area Seattle-based Amazon’s announcement that it would be building a second headquarters in Northern Virginia boosted home prices and sales, albeit temporarily, according to a new report. … Continue reading →

Posted in Demographics, Economics, Employment, Housing Bubble, National Real Estate | 43 Comments

Better move fast

Posted on November 15, 2023 by grim

From NJ 1015: Homes are selling fastest in these two NJ counties It’s like a Six Flags Great Adventure ride that never ends. One without too many lows that keeps just bringing you higher and higher into the clouds. Well, … Continue reading →

Posted in Housing Bubble, New Jersey Real Estate | 93 Comments

Alpine back on top

Posted on November 14, 2023 by grim

From NJ.com: These 5 N.J. zip codes are among the priciest in the country A record five New Jersey zip codes made the list of the top 100 priciest places to buy a home in the U.S., according to an … Continue reading →

Posted in Demographics, Economics, New Jersey Real Estate | 86 Comments

Least affordable … ever?

Posted on November 12, 2023 by grim

From Black Knight: From the NAHB: Rising Mortgage Rates Push Housing Affordability to Lowest Level in Index History Rising mortgage rates, elevated construction costs and limited existing inventory helped push housing affordability in the third quarter of 2023 to its … Continue reading →

Posted in Crisis, Demographics, Economics, Housing Bubble, National Real Estate | 73 Comments

Are agents employees or contractors?

Posted on November 9, 2023 by grim

(Anyone have access to the full text?) Ain’t just a problem for Lyft and Uber. From Bloomberg Law News: Change in NJ Realty Agent Contractor Status Could Upend Industry The structure of New Jersey’s roughly 60,000-person real estate industry hung … Continue reading →

Posted in New Jersey Real Estate | 91 Comments