Monthly Archives: December 2023

What’s next year got in store?

Posted on December 30, 2023 by grim

From Bankrate: 2024 first-quarter housing trends: Rates begin to thaw “We typically see housing inventory remaining low until February and then ramping up from March onward,” says Lawrence Yun, chief economist for the National Association of Realtors. “Homebuying and open … Continue reading →

Posted in Economics, Housing Bubble, Housing Recovery, Mortgages, National Real Estate, Where's the Beef? | 40 Comments

NJ Gets Coal for Christmas

Posted on December 28, 2023 by grim

From NJBIZ: NJ unemployment rate ticks up in November jobs report  Just before the holiday, the New Jersey Department of Labor and Workforce Development released the state’s November jobs report, which showed an increase of 4,100 jobs (3,100 in the private … Continue reading →

Posted in Demographics, Economics, Employment, New Jersey Real Estate | 120 Comments

Home prices rise at the fastest rate of the year

Posted on December 27, 2023 by grim

From CNN: US home prices hit another record high in October, rising for the ninth straight month US home prices continued to rise in October, hitting a new record high and marking the ninth-consecutive month of increases, according to data … Continue reading →

Posted in Housing Bubble, National Real Estate | 89 Comments

Out of reach … forever?

Posted on December 26, 2023 by grim

From NPR: Most homes for sale in 2023 were not affordable for a typical U.S. household If you found the U.S. housing market impossible this year you were not alone. In fact, you were in the vast majority, according to … Continue reading →

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

Fitch – NJ is overpriced

Posted on December 22, 2023 by grim

From Fitch: Homes Prices Remain Overvalued in 88% of the U.S. Fitch Ratings-New York-20 December 2023: Fitch Ratings estimates that national home prices were 9.4% overvalued for 2Q2023 on a population-weighted average basis and expects overvaluation to remain elevated due … Continue reading →

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

Home sales tick up, slightly

Posted on December 21, 2023 by grim

From the Real Deal: Existing home sales rise for first time since May It was by no means a blizzard of activity, but existing home sales increased from October to November, ending a cold spell for the moribund U.S. market. Sales … Continue reading →

Posted in Demographics, Economics, Employment, National Real Estate | 61 Comments

Too Soon?

Posted on December 20, 2023 by grim

From CNN Business: America may have done the impossible: Avoid a recession For the past couple years, all the smart money was on a US recession taking place sometime before the next presidential election. To be clear: That absolutely could still happen. In … Continue reading →

Posted in General | 111 Comments

Like the good ol’ days

Posted on December 18, 2023 by grim

From Business Insider: HENRYs are turning to a little-known and risky type of mortgage as home prices soar  With home prices and mortgage rates sky high, potential homeowners — even those with deep pockets — are looking for ways to ease the … Continue reading →

Posted in Economics, Employment, Housing Bubble, National Real Estate, NYC, Risky Lending | 112 Comments

Prediction Season!

Posted on December 16, 2023 by grim

From the APP: Realtor.com released 2024 forecast for top housing markets Coming in at No. 23 was the Allentown-Bethlehem-Easton, PA-NJ area, with forecasts of : The next New Jersey market on the list was New York-Newark-Jersey City, NY-NJ-PA, coming in … Continue reading →

Posted in Demographics, Economics, Employment, Housing Bubble, New Jersey Real Estate | 47 Comments

Room to run

Posted on December 15, 2023 by grim

From Business Insider: The Fed brought some relief to the housing market The Federal Reserve’s forecast for easing monetary policy in 2024 fueled stocks to new highs, dragged bond yields lower, and sparked a fresh wave of exuberance across Wall Street.  … Continue reading →

Posted in Housing Bubble, Mortgages, National Real Estate | 97 Comments

Party Time

Posted on December 14, 2023 by grim

From Barrons: Dow Soars 500 Points to Record Closing High The Dow Jones Industrial Average sprinted to a new record closing high after the Federal Reserve announced its latest monetary policy decision. The Dow gained 512 points, or 1.4% to … Continue reading →

Posted in Economics, National Real Estate | 95 Comments

No unintended consequences here…

Posted on December 13, 2023 by grim

From the NJ Monitor: N.J. Senate approves penalties for discriminatory real estate appraisals Senate lawmakers approved a bill Monday that would create steep penalties for real estate appraisers who undervalue homes because of the owner or buyer’s protected characteristics, with Republican critics … Continue reading →

Posted in Demographics, Economics, Politics | 97 Comments

Pretty sure this won’t end well, whichever way it goes

Posted on December 12, 2023 by grim

From Yahoo Finance: ‘Stay Out Of The Markets’ — Kevin O’Leary Urges Government To Not Get Involved In Housing — Says New Bill That Would Ban Hedge Funds From Buying Homes ‘Is Very, Very Bad And Destructive’ Real estate investors … Continue reading →

Posted in Demographics, Economics, Housing Bubble, National Real Estate, Politics | 9 Comments

Making Money

Posted on December 9, 2023 by grim

From CBS News: The U.S. states where homeowners gained — and lost — equity in 2023 For the millions of Americans who own their homes, their properties are typically their biggest source of wealth. The good news? Those assets have … Continue reading →

Posted in Housing Bubble, National Real Estate, New Jersey Real Estate | 121 Comments

Don’t let the money leave

Posted on December 8, 2023 by grim

From ROINJ: Murphy appoints new task force designed to cut property bills in half for New Jersey seniors A new task force charged with cutting property tax bills in half for New Jersey seniors has been created, according to a … Continue reading →

Posted in New Jersey Real Estate, Politics, Property Taxes | 146 Comments