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Author Archives: grim
Prices to fall in 2024?
From Fast Company: Fannie Mae expects U.S. home prices to rise in 2024; Morgan Stanley disagrees “When we published our year-end forecast, we were expecting [housing] affordability to improve. . . . If mortgage rates were to stay here that improvement … Continue reading
Posted in Housing Bubble, Mortgages, National Real Estate
78 Comments
Nobody selling, nobody buying
From PBS Newshour: U.S. existing home sales drop to near 30-year low Sales of previously occupied U.S. homes sank in 2023 to a nearly 30-year low as mortgage rates climbed to the highest level in more than two decades and … Continue reading
Posted in Housing Bubble, National Real Estate
10 Comments
Cheers!
From 42 Freeway: New Jersey Liquor License Overhaul Signed. Much More To It Than The Press Release So it’s clear that New Jersey lawmakers are not happy that over 1,500 full alcohol plenary licenses are sitting unused for years, which … Continue reading
Posted in Economics, New Jersey Real Estate, Politics
57 Comments
Oh Shiitake
From Fast Company: Decoding the U.S. housing market: What Opendoor’s performance reveals about home prices At the edge of the sprawling desert community of North Las Vegas, the four-bedroom home at 7473 Moonglade Street epitomized the impact of the mortgage rate shock … Continue reading
Posted in Economics, General, National Real Estate, Price Reduced
68 Comments
Those were the days…
From Fox: This was the average cost of an American home in the decade you were born 1940 In 1940, without adjusting for inflation, the average cost of a home in the United States was $2,938, according to the United … Continue reading
Posted in Demographics, Economics, Housing Bubble, National Real Estate
61 Comments
You’ve got to be crazy to live in NJ
No, just tripping. From the Record: NJ looks to make magic mushrooms legal for recreational use and to treat mental health It took at least five years of public debate, lobbying and bill amendments for New Jersey to make marijuana … Continue reading
Posted in Humor, New Jersey Real Estate
51 Comments
Shrinkflation, even in housing
From Fox 5: Renting in NYC: $1,700 gets you a living room sized apartment, study reveals Renters from every borough in NYC agree that prices are soaring and living spaces are shrinking, but a new study sheds light on just … Continue reading
Posted in Demographics, Economics, Housing Bubble, NYC
22 Comments
Foreclosure Do-Over
From NJ Monitor: Gov. Murphy signs new foreclosure protection program into law New Jerseyans facing foreclosure will have a new path back to homeownership under a bill Gov. Phil Murphy signed Friday. The new law creates the community wealth preservation program, … Continue reading
Philly still hot
From the Philly Business Journal: Philadelphia-area home prices rose at fastest pace in December since spring 2022 The end of 2023 didn’t bring any relief in median home prices in Greater Philadelphia, with the year’s largest price spike coming in … Continue reading
December a mixed bag for NJ real estate
From Yahoo Finance: Real estate market update: What happened with listings in North Jersey in December December is a traditionally slow month for real estate in New Jersey and across the nation. So it’s no surprise that North Jersey experienced … Continue reading
You too can be a corporate raider
From NorthJersey.com: North Jersey home of legendary RJR Nabisco CEO on the market for $1.5 million After nearly 40 years, a Sparta estate once home to one of the most legendary CEOs of the era of excess, RJR Nabisco’s F. … Continue reading
Posted in Employment, New Jersey Real Estate
64 Comments
“Drive till you qualify”
From Business Insider: Millennials are moving to ‘the most boring places in the world’ For nearly two decades millennials morphed dense, amenity-rich urban neighborhoods across America into exclusive playgrounds for the young and childless. Compared with Gen Xers and baby … Continue reading
Posted in Crisis, Demographics, Economics, Housing Bubble, National Real Estate
43 Comments
Buffalo is the place to be
From Buffalo Rising: Buffalo’s Real Estate Revolution: How It Became 2024’s Hottest Housing Market In the heart of the Great Lakes region, a remarkable transformation is unfolding. Buffalo, once overshadowed by larger cities, has surged to the forefront as the … Continue reading
Posted in Demographics, Economics, Housing Bubble, National Real Estate
52 Comments
Online gaming not good for the economy?
Who could’a knew? From Gambling News: Report Argues New Jersey iGaming Has Harmed the Economy The gambling industry can provide significant economic boosts to certain areas, creating new jobs and generating millions in tax money. This argument continues to be … Continue reading
Posted in Economics, Employment, New Jersey Real Estate, Politics
17 Comments
NJ Industrial On Fire
From ROI-NJ: C&W report: Industrial market records highest level of leasing in 2 years Cushman & Wakefield recently released its fourth-quarter 2023 industrial and office statistics for northern and central New Jersey, showing New Jersey’s industrial market recorded its highest level … Continue reading
Posted in Economics, Employment, New Development, New Jersey Real Estate
47 Comments