Monthly Archives: April 2024

This pattern seems familiar..

Posted on April 29, 2024 by grim

From NJ.com: Regulators close Republic First Bank, regional lender with 15 N.J. locations Regulators have closed Republic First Bank, a regional lender operating in Pennsylvania, New Jersey and New York. The Federal Deposit Insurance Corp. said Friday it had seized … Continue reading →

Posted in General | 74 Comments

Oh, hey Austin, you too?

Posted on April 26, 2024 by grim

From Bloomberg: Plunging Home Prices, Fleeing Companies: Austin’s Glow Is Fading Oracle Corp. is moving its headquarters out of the city. Tesla Inc. is pulling back after a rapid expansion. Almost a quarter of commercial office space is vacant, and nowhere in the … Continue reading →

Posted in Demographics, Economics, Housing Bubble, National Real Estate | 80 Comments

The first to fall

Posted on April 25, 2024 by grim

From the NY Post: Once the West Coast’s crown jewel, San Francisco’s real estate market is crashing San Francisco, once the crown jewel of the West Coast, is now teetering on the brink of collapse — and it seems like … Continue reading →

Posted in Crisis, Demographics, Economics, Housing Bubble, National Real Estate | 74 Comments

Zillow Home Price Forecast

Posted on April 24, 2024 by grim

From Zillow: Zillow Home Value and Home Sales Forecast (March 2024) Zillow’s home value forecast calls for 1.9% growth over 2024 – slower than long-term norms but a welcome slowdown for first-time buyers compared to the rapid appreciation seen over … Continue reading →

Posted in Demographics, Economics, Housing Bubble, New Jersey Real Estate, NYC | 90 Comments

Sorry about the affording thing

Posted on April 23, 2024 by grim

From CNBC: Luxury real estate prices just hit an all-time record  Real estate is increasingly a tale of two markets — a luxury sector that is booming, and the rest of the market that continues to struggle with higher ratesand low inventory. … Continue reading →

Posted in Demographics, Economics, Employment, Housing Bubble, National Real Estate | 100 Comments

Second fastest in the nation

Posted on April 22, 2024 by grim

From the Star Ledger: Homes in New Jersey sold the fastest in the nation. As the weather heats up so is New Jersey housing market, according to the latest data. Homes in New Jersey sold within a median of 36 … Continue reading →

Posted in Demographics, Economics, Housing Bubble, National Real Estate, New Jersey Real Estate | 66 Comments

Has the slowdown begun?

Posted on April 19, 2024 by grim

From CNBC: March homes sales dropped despite a surge in supply. Here’s why. Sales of previously owned homes dropped 4.3% in March compared with February, to a seasonally adjusted annualized rate of 4.19 million units, according to the National Association … Continue reading →

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

Mortgage rates hit 4 month high

Posted on April 18, 2024 by grim

From the Real Deal: Mortgage applications jump as buyers worry about rising rates Mortgage activity increased anyways, suggesting homebuyers and homeowners are concerned rates aren’t done rising. Applications for mortgage purchases and refinancings rose 3.3 percent on a seasonally adjusted … Continue reading →

Posted in Economics, Mortgages, National Real Estate | 62 Comments

The boomers won’t go

Posted on April 17, 2024 by grim

Hat Tip VSG & Chi – From the WSJ: Boomers Bought Up the Big Homes. Now They’re Not Budging. Baby boomers bought up many of the big homes across the U.S. when they were raising their families. Now they’re staying … Continue reading →

Posted in Crisis, Demographics, Economics, Housing Bubble, National Real Estate | 59 Comments

Single family as a luxury good

Posted on April 15, 2024 by grim

From Marketplace: Home prices have risen 423% in 40 years, fueling economic discontent  We’ve been dealing with high inflation in this economy over the last several years, with everything from groceries to new vehicles to construction supplies soaring in price. But for one item in particular — houses … Continue reading →

Posted in Demographics, Economics, Employment, Housing Bubble, National Real Estate | 139 Comments

Where does it stop?

Posted on April 12, 2024 by grim

From Patch: Home Prices Jumped 10 Percent This Year In These NJ Counties Atlantic Bergen Burlington Camden Cape May Cumberland Essex Gloucester Hudson Hunterdon Mercer Middlesex Monmouth Morris Ocean Passaic Salem Somerset Sussex Union Warren

Posted in Housing Bubble, New Jersey Real Estate | 119 Comments

Paterson Renaissance?

Posted on April 10, 2024 by grim

From the Record: The Great Falls are essential to Paterson’s economic and cultural future There aren’t many urban centers in America that have a waterfall a stone’s throw away from their downtown district. Well, part of Paterson’s point of difference … Continue reading →

Posted in Demographics, Economics, New Development, New Jersey Real Estate | 187 Comments

Montclair #4 in the country

Posted on April 8, 2024 by grim

From Patch: NJ Town’s Real Estate Market Named One Of The Hottest In U.S.: Report Montclair is not only the hottest town in New Jersey for real estate, but the fourth hottest in the entire country, according to Realtor.com data … Continue reading →

Posted in New Jersey Real Estate | 125 Comments

You can’t afford it

Posted on April 5, 2024 by grim

From Business Insider: A record 550 cities now have average home values above $1 million A record number of US cities have an average home value of more than $1 million — a sign that the housing market is becoming … Continue reading →

Posted in Economics, Housing Bubble, National Real Estate | 48 Comments

Lazy men will destroy the housing market

Posted on April 4, 2024 by grim

From Yahoo Finance: The ‘growing crisis of the young American male’ could send home prices falling for years or even decades, says the ‘Oracle of Wall Street’ Meredith Whitney, deemed the “Oracle of Wall Street” for successfully calling the financial … Continue reading →

Posted in Demographics, Economics, National Real Estate | 47 Comments