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Monthly Archives: July 2024
NY Metro tops the S&P Case Shiller in May
From the NY Post: Home prices reach record high as affordability crisis worsens Home prices reached a new record in May amid an ongoing housing shortage, even as high mortgage rates continued to push affordability out of reach for millions of Americans. Prices … Continue reading
Posted in Economics, Housing Bubble, National Real Estate
85 Comments
The million dollar starter home
From National Mortgage Professional: Starter Home Prices Topple $1M In More U.S. Cities The barriers towards homeownership continue to mount for more first-time homebuyers, with Zillow reporting that the number of million-dollar starter homes has tripled since 2019. In more than 200 … Continue reading
Posted in Demographics, Economics, Employment, Housing Bubble
52 Comments
Buyers walking?
From Newsweek: Florida Housing Market Faces ‘Nightmare Scenarios’ as Deals Collapse Florida homebuyers are backed out of deals to purchase properties at a record rate, according to a new report from real estate brokerage Redfin, as prices continue rising and mortgage … Continue reading
Jersey New Listings Fall
From NJ.com: N.J. real estate listings down slightly. See full list. The number of newly listed homes in New Jersey dropped by less than 1% in June compared to the same time last year, according to Realtor.com. In June, 9,256 listings … Continue reading
Biden Out
From CNN: Harris seeks to rally Democrats after Biden drops out of race
Posted in Crisis, National Real Estate, Politics
242 Comments
Why not just lower taxes?
From NJ.com: The property tax overhaul New Jersey’s property tax breaks, including the popular Senior Freeze and ANCHOR benefits, could soon undergo dramatic changes as the state tries to keep its promise to further cut taxes for senior citizens under the Stay NJ law, according to recommendations released … Continue reading
Posted in Demographics, Economics, New Jersey Real Estate, Politics
131 Comments
Maybe they aren’t so bad?
From NorthJersey.com: Really, rankings? These two Jersey cities are consistently ‘the worst.’ We beg to differ Newark and Jersey City are New Jersey’s most populated cities, so it’s no wonder that they’re often the target of the various “worst places” … Continue reading
Posted in Demographics, Gold Coast, New Jersey Real Estate
177 Comments
Shore rentals starting to look shaky?
From the Philly Inquirer: Jersey Shore rental market sees cancellations, dropped prices, vacant weeks. What’s going on? Is the “Shore crowd in Italy”? Again? That’s the buzz, or rationalization, among some renters, real estate agents and homeowners at the Jersey … Continue reading
Posted in Demographics, Economics, Shore Real Estate
59 Comments
Mortgage pressure easing
From the MPA: Mortgage rates see immediate relief after positive economic data Mortgage rates fell this week, following positive economic data that suggests the Federal Reserve may ease up on interest rates later this year. Freddie Mac’s latest Primary Mortgage … Continue reading
Posted in Demographics, Economics, Housing Bubble, Mortgages, National Real Estate
31 Comments
The Gold Coast is Back!
From Bloomberg: What We Can Learn From Jersey City’s Luxury Housing Boom US renters say there’s now a 60% likelihood they’ll never own a home — the highest reading in at least a decade — and that can help explain why we’re … Continue reading
Posted in Demographics, Economics, Employment, Gold Coast, Housing Bubble
88 Comments
The real estate boom is …. coming?
From Fox Business: Real estate tycoon explains when house prices will start to drop and ‘open the floodgates’ Over the next year, two macroeconomic indicators may align and create booming opportunities in real estate, according to RE/MAX’s chairman and co-founder. … Continue reading
Posted in Demographics, Economics, Mortgages, National Real Estate
110 Comments
Jersey Market Slowing?
From NorthJersey.com: Real estate update: Nearly half of NJ counties saw housing inventory increase in June June marked the eighth consecutive month of housing inventory growth across the nation, with 36.7% more homes actively for sale than this time last year. The … Continue reading
Posted in Demographics, Economics, Housing Bubble, New Jersey Real Estate
89 Comments
The backyard economy has sprung a leak
From CNBC: The pool party’s over as Americans ease up on backyard upgrades Americans will be splashing around this summer in the backyard pools they’ve already got, but not splashing out as much on new ones. Swimming pool installations were … Continue reading
Posted in Economics, Housing Bubble, National Real Estate
50 Comments
$8m Middle Sedge Mansion Torn Down
From NBC: Jersey Shore mansion on private island now demolished after abandoned for years It was an unusual house that turned heads for decades along the Jersey Shore. Now, it is no more. The home and adjacent guest house on … Continue reading
Posted in New Jersey Real Estate, Shore Real Estate
7 Comments
Lowball! Baseball Edition.
From NorthJersey.com: Derek Jeter’s Greenwood Lake ‘castle’ sold for a third of original asking price Former Yankees captain Derek Jeter has sold his home on Greenwood Lake. The $5.1 million sale closed on Wednesday, less than two months after hitting the … Continue reading
Posted in Lowball
16 Comments