Author Archives: grim

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 | 60 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

Welcome to the Peak

Some great charts over at Visual Capitalist: Mapped: The Growth in U.S. House Prices by State in 2024 In 2024, U.S. home prices are steadily rising across nearly every state in America. Overall, home prices rose 6.6% annually as of the first … Continue reading

Posted in Demographics, Economics, Housing Bubble, National Real Estate, New Jersey Real Estate | 217 Comments

Dining rooms and jello molds

From The Atlantic: Why Dining Rooms Are Disappearing From American Homes The dining room is the closest thing the American home has to an appendix—a dispensable feature that served some more important function at an earlier stage of architectural evolution. … Continue reading

Posted in Demographics, National Real Estate, Where's the Beef? | 137 Comments

Fire up the money machine

From Yahoo Finance: Mortgage rates decline for 4th straight week The national average on the 30-year, fixed-rate mortgage inched down to 6.86% from 6.87% a week prior, according to Freddie Mac’s report published on Thursday. Rates have declined for four … Continue reading

Posted in Economics, Housing Bubble, Mortgages, National Real Estate | 16 Comments

No home for you

From CNN: The housing market is ‘stuck’ until at least 2026, Bank of America warns Help may not be on the way for first-time homebuyers frustrated by high mortgage rates and even higher home prices. Economists at Bank of America … Continue reading

Posted in Demographics, Economics, Employment, Housing Bubble, National Real Estate | 78 Comments

No chance of home price declines?

From Marketwatch: When will home prices go down? Six economists weigh in. “The U.S. housing shortage is still lingering based on our estimate of 4.5 million additional housing units that are required to make up for the gaps accumulated from … Continue reading

Posted in Demographics, Economics, Employment, Housing Bubble, National Real Estate | 82 Comments

What’s the next year hold?

From Fast Company: Updated home price forecasts from Zillow and Moody’s for 400 housing markets Despite strained housing affordability, national home prices, as measured by the Zillow Home Value Index, increased by 3.9% from May 2023 to May 2024 (see … Continue reading

Posted in Demographics, Economics, Employment, Housing Bubble, National Real Estate | 19 Comments

Expensive, no end in sight

From the Joint Center for Housing Studies at Harvard: THE STATE OF THE NATION’S HOUSING 2024 Both homeowners and renters are struggling with high housing costs. On the for-sale side, millions of potential homebuyers have been priced out of the … Continue reading

Posted in Crisis, Demographics, Economics, Housing Bubble, National Real Estate | 22 Comments

Cracks in the market?

From ATTOM: New Jersey And Illinois Have Highest Concentrations Of Housing Markets At Risk Of DeclinesATTOM, a leading curator of land, property, and real estate data, today released a Special Housing Impact Report spotlighting county-level housing markets around the United States … Continue reading

Posted in Demographics, Economics, Employment, Foreclosures, Housing Bubble, New Jersey Real Estate | 33 Comments

Record high, once again.

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 | 17 Comments