Author Archives: grim

How much higher can rents go?

Posted on June 8, 2023 by grim

From Zumper: New York City Metro Report

Posted in Demographics, Economics, Employment, New Jersey Real Estate, NYC | 45 Comments

What recession?

Posted on June 7, 2023 by grim

From the Hill: Goldman Sachs sees recession odds falling In a Monday research note, the investment bank put the odds of a recession within 12 months at 25 percent, down from 35 percent earlier this year. Goldman Sachs economist Jan Hatzius … Continue reading →

Posted in Economics, Employment, National Real Estate | 75 Comments

Boomers back in charge

Posted on June 6, 2023 by grim

From Bank of America: The Great Migration continues The rise of Boomers as the main homebuyer The latest Home Buyers and Sellers Generational Trends report from the National Association of Realtors found that for the first time since 2014, Baby … Continue reading →

Posted in Demographics, Economics, National Real Estate, NYC | 54 Comments

It’s a bargain, darling.

Posted on June 5, 2023 by grim

From the NY Post: Beach bargains: Hamptons luxury home prices are dropping After numerous record-breaking, pandemic-fueled, $100-million-plus mega-mansion sales, the hyped up Hamptons may have finally hit a wall.  The number of East End home sales fell to their lowest … Continue reading →

Posted in Economics, NYC, Price Reduced, Shore Real Estate | 56 Comments

NJ labor force participation at 10 year high

Posted on June 4, 2023 by grim

From Insider NJ: New Jersey Labor Market Remains Robust; Unemployment Rate Steady at 3.5%  New Jersey’s labor market remained strong in April, with nonfarm employment increasing by 15,800 jobs to a seasonally adjusted level of 4,332,300, and the unemployment rate holding steady at 3.5 … Continue reading →

Posted in Demographics, Economics, Employment, New Jersey Real Estate | 15 Comments

How much money would you dump into 900 square feet?

Posted on June 2, 2023 by grim

From the NYT: Priced Out of the City, They Bought a Tiny Suburban Home. Now What? Much has been written about “good enough” marriages, but what of “good enough” houses in “I guess we have to live somewhere” neighborhoods? This … Continue reading →

Posted in Demographics, Economics, New Jersey Real Estate, NYC | 91 Comments

Something’s going to give

Posted on June 1, 2023 by grim

From Seeking Alpha: Mortgage Rates Re-Spike To 7% Range As It Sinks In That Fed Won’t Cut Rates ‘Anytime Soon,’ Mortgage Applications Plunge To 1995 Levels Spring selling season was a dud. But what comes next may be worse, that’s … Continue reading →

Posted in Economics, Mortgages, National Real Estate | 72 Comments

Musk knows real estate?

Posted on May 31, 2023 by grim

From Insider: Elon Musk warns house prices are set to plunge – and says commercial real estate is in meltdown Elon Musk is once again ringing the alarm on the US real-estate sector.  “Commercial real estate is melting down fast. … Continue reading →

Posted in Demographics, Economics, National Real Estate | 97 Comments

NJ Shutdown Ahead

Posted on May 30, 2023 by grim

From Insider NJ: Murphy Unlocks the Nuclear Launch Codes Skipping over the preliminaries — meetings, discussions, negotiations or compromises with legislative leaders — Gov. Phil Murphy went directly to the nuclear option— shutting down state government on July 1 if … Continue reading →

Posted in Demographics, New Jersey Real Estate, Politics, Property Taxes | 66 Comments

Sorry about the price of your buildings

Posted on May 27, 2023 by grim

From the NY Post: Remote work is cutting NYC office value by half: Study Working from home is killing office buildings’ worth.  As remote and hybrid work prove to be enduring trends, researchers are predicting grim fates for the future … Continue reading →

Posted in Demographics, Economics, National Real Estate, New Development, NYC | 35 Comments

Hottest in NJ?

Posted on May 24, 2023 by grim

From NJ1015: These NJ counties have some of the hottest real estate markets This will come as no surprise to anyone who’s been house shopping in New Jersey for the past few years, but the Garden State is home to … Continue reading →

Posted in Housing Bubble, New Jersey Real Estate | 182 Comments

Housing market takes a beat down in April

Posted on May 19, 2023 by grim

Hat Tip ChiFi! (No, not this post, but the last two). From CNN: US home prices fall by most in 11 years but sales are down US home sales fell in April for the second month in a row and … Continue reading →

Posted in General | 84 Comments

Hold on to your wallets…

Posted on May 18, 2023 by grim

From the NJ Monitor: State ‘well prepared’ to handle $2B dip in tax revenue, treasurer says New Jersey will collect roughly $2 billion less in taxes in the current and coming fiscal years, but the years of booming revenue will … Continue reading →

Posted in Economics, New Jersey Real Estate, Politics | 134 Comments

Time for the middle?

Posted on May 17, 2023 by grim

From the NY Times: Coastal Cities Priced Out Low-Wage Workers. Now College Graduates Are Leaving, Too. The college graduates who fill white-collar jobs in the San Francisco area began to leave in growing numbers about a decade ago. More and … Continue reading →

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

Does anyone still work in NYC?

Posted on May 16, 2023 by grim

From the NY Post: New Jersey Gov. Phil Murphy attempts to woo New Yorkers in retaliation for congestion tax The grass is greener in the Garden State? New Jersey Gov. Phil Murphy sure wants you to think so! Murphy is … Continue reading →

Posted in Demographics, Economics, Gold Coast, New Jersey Real Estate, NYC | 52 Comments