Monthly Archives: June 2024

Record high, once again.

Posted on June 22, 2024 by grim

From CNBC: Home prices hit record high in May as sales stall Sales of previously owned homes are sitting at a 30-year low and didn’t move much in May as prices hit a new record and mortgage rates remain high. … Continue reading →

Posted in Economics, Housing Bubble, National Real Estate | 8 Comments

Jobs strong in NJ

Posted on June 21, 2024 by grim

From the NJBIA: NJ Gains Jobs in May, Unemployment Dips to 4.6%  The state’s unemployment rate declined by one-tenth of a percentage point for the second consecutive month to 4.6% in May, according to U.S. Bureau of Labor Statistics data … Continue reading →

Posted in Demographics, Economics, Employment, New Jersey Real Estate | 61 Comments

Anyone can get a $50m loan

Posted on June 19, 2024 by grim

From the Star Ledger: N.J. real estate investor admits role in $54.7M mortgage fraud scheme A New Jersey real estate investor admitted Monday that he was involved in a massive, far-reaching $54.7 million mortgage fraud scheme, federal prosecutors said. Aron … Continue reading →

Posted in National Real Estate, New Jersey Real Estate, Risky Lending | 104 Comments

Just another day in NJ politics

Posted on June 18, 2024 by grim

Hat Tip Gator. From NJ101.5: NJ Democratic boss stares down officials at corruption-case news conferenceLike a boss, Democratic power broker George Norcross sat defiantly in the front row on Monday as the state Attorney General’s Office outlined a blockbuster corruption … Continue reading →

Posted in New Development, New Jersey Real Estate, Politics | 92 Comments

What’s it take to get banned by Freddie and Fannie?

Posted on June 16, 2024 by grim

From the Real Deal: Meridian makes cuts to New Jersey office  Meridian Capital Group has let go of brokers in its New Jersey office as the brokerage goes through a leadership shakeup and a blacklist from Freddie Mac and Fannie … Continue reading →

Posted in Mortgages, NYC, Risky Lending | 26 Comments

Covid claims another

Posted on June 15, 2024 by grim

From NorthJersey.com: Coach USA bus company files for bankruptcy. How will it impact NJ riders? Paramus-based Coach USA — one of the largest private bus companies in the country — filed to begin Chapter 11 bankruptcy proceedings this week. Dan … Continue reading →

Posted in Crisis, Employment, New Jersey Real Estate, NYC | 16 Comments

Another month, another record

Posted on June 14, 2024 by grim

From Redfin: U.S. Home Prices Hit Another Record High, But Mortgage Rates Are Starting to Decline–Which Could Give Buyers Relief The median U.S. home-sale price hit an all-time high of $394,000 during the four weeks ending June 9, up 4.4% … Continue reading →

Posted in Housing Bubble, Mortgages, National Real Estate | 42 Comments

Pays to own a home in NJ

Posted on June 13, 2024 by grim

(Until it doesn’t) From CoreLogic: Homeowner Equity Insights – Q1 2024 CoreLogic analysis shows U.S. homeowners with mortgages (roughly 62% of all properties*) have seen their equity increase by a total of $1.5 trillion since the first quarter of 2023, … Continue reading →

Posted in Economics, Mortgages, National Real Estate, New Jersey Real Estate | 85 Comments

How does this nonsense even make the news?

Posted on June 12, 2024 by grim

From the Bergen Record: Thinking about a staycation? Avoid these 2 NJ cities and travel to these instead We all need a getaway every once in a while, but you don’t always need to travel far to have a good … Continue reading →

Posted in Humor, Where's the Beef? | 87 Comments

If you have to ask…

Posted on June 11, 2024 by grim

From Newsweek: Map Shows States With Highest Hidden Housing Costs The average annual cost of owning and maintaining a single-family home now exceeds $18,000, according to a new study. Homeownership is often considered a pathway to building wealth, but the ongoing … Continue reading →

Posted in Economics, National Real Estate, New Jersey Real Estate, Property Taxes | 83 Comments

More affordable homes?

Posted on June 10, 2024 by grim

From USA Today: High prices and mortgage rates have plagued the housing market. Now, a welcome shift Mortgage rates are high, home prices are lofty and selection is slim. There isn’t much to like about the housing market, except for one small positive: more … Continue reading →

Posted in Economics, Housing Bubble, National Real Estate | 39 Comments

Still hot

Posted on June 9, 2024 by grim

From NorthJersey.com: Real estate update: May marks 7th month of housing inventory growth across the nation May marked the seventh consecutive month of housing inventory growth across the nation, signaling that the number of homes for sale may slowly be returning to … Continue reading →

Posted in Demographics, Economics, Housing Bubble, National Real Estate, New Jersey Real Estate | 20 Comments

Tick tick tick

Posted on June 8, 2024 by grim

From the Daily Mail: Home prices are falling in these 4 former boomtowns – it’s a bad omen for the rest of America Home prices are falling in four former hotspots – as near-record housing costs push homebuyers away.  Three … Continue reading →

Posted in Demographics, Economics, Employment, Housing Bubble, National Real Estate | 25 Comments

Jobs Day!

Posted on June 7, 2024 by grim

From Yahoo Finance: May jobs report expected to show more signs of cooling labor market The May jobs report is expected to show further signs of cooling in the labor market. The monthly report from the Bureau of Labor Statistics, … Continue reading →

Posted in Economics, Employment, National Real Estate | 103 Comments

First to fall

Posted on June 3, 2024 by grim

From the Daily Mail: The cities where house prices are set to DROP – and most are in the south The cost of real estate only continues to inch upwards in states like New York and Connecticut. However, a new report from financial … Continue reading →

Posted in Economics, Housing Bubble, National Real Estate | 274 Comments