Author Archives: grim

Where NJ makes it’s money

Posted on November 20, 2023 by grim

From Statista: Real value added to the gross domestic product of New Jersey in the United States in 2022, by industry 

Posted in Demographics, Economics, Employment, New Jersey Real Estate | 71 Comments

Free and Clear

Posted on November 18, 2023 by grim

From Daily Mail: Mortgage-free America! Share of US homes owned outright rises to an all-time high thanks to ageing boomers paying off their record-low deals The share of US homes that are owned outright has increased by 5 percent over … Continue reading →

Posted in Demographics, Economics, National Real Estate | 23 Comments

Somebody’s not happy

Posted on November 17, 2023 by grim

From the NYT: The Fed Has Put Our Housing Market in Jeopardy The Federal Reserve’s relentless attack on inflation is jeopardizing our housing market. The resulting damage is not only having an impact on a critical engine of economic growth … Continue reading →

Posted in Crisis, Demographics, Economics, Housing Bubble, Mortgages, National Real Estate | 75 Comments

Tech’s outsized impact on real estate speculation

Posted on November 16, 2023 by grim

From Realtor.com: Reassessing the ‘Amazon Effect’ on Home Prices in One U.S. Metro Area Seattle-based Amazon’s announcement that it would be building a second headquarters in Northern Virginia boosted home prices and sales, albeit temporarily, according to a new report. … Continue reading →

Posted in Demographics, Economics, Employment, Housing Bubble, National Real Estate | 43 Comments

Better move fast

Posted on November 15, 2023 by grim

From NJ 1015: Homes are selling fastest in these two NJ counties It’s like a Six Flags Great Adventure ride that never ends. One without too many lows that keeps just bringing you higher and higher into the clouds. Well, … Continue reading →

Posted in Housing Bubble, New Jersey Real Estate | 93 Comments

Alpine back on top

Posted on November 14, 2023 by grim

From NJ.com: These 5 N.J. zip codes are among the priciest in the country A record five New Jersey zip codes made the list of the top 100 priciest places to buy a home in the U.S., according to an … Continue reading →

Posted in Demographics, Economics, New Jersey Real Estate | 86 Comments

Least affordable … ever?

Posted on November 12, 2023 by grim

From Black Knight: From the NAHB: Rising Mortgage Rates Push Housing Affordability to Lowest Level in Index History Rising mortgage rates, elevated construction costs and limited existing inventory helped push housing affordability in the third quarter of 2023 to its … Continue reading →

Posted in Crisis, Demographics, Economics, Housing Bubble, National Real Estate | 73 Comments

Are agents employees or contractors?

Posted on November 9, 2023 by grim

(Anyone have access to the full text?) Ain’t just a problem for Lyft and Uber. From Bloomberg Law News: Change in NJ Realty Agent Contractor Status Could Upend Industry The structure of New Jersey’s roughly 60,000-person real estate industry hung … Continue reading →

Posted in New Jersey Real Estate | 91 Comments

Golden Handcuffs

Posted on November 8, 2023 by grim

From the Philly Inquirer: How the ‘lock-in effect’ is helping shape today’s housing market Why? the supply of homes, as measured by homes for sale, is way down. It looks like we will end 2023 with inventory shrinking between 10% … Continue reading →

Posted in Economics, Housing Bubble, Mortgages, National Real Estate | 77 Comments

End of the Realtors?

Posted on November 6, 2023 by grim

From CNN: After a $1.8 billion verdict, the clock is ticking on the 6% real estate commission Using a travel agent to buy a plane ticket or a stockbroker to trade equities seem like relics of the past. And yet, every … Continue reading →

Posted in National Real Estate, Unrest | 93 Comments

No end to price increases?

Posted on November 4, 2023 by grim

From Zillow: Home prices could spike nearly 5% in 2024: Zillow Anticipating mortgage rates to remain elevated and new home listings to slightly rise in the coming months, some experts predict home prices would increase 4.9% from August 2023 through … Continue reading →

Posted in Demographics, Economics, Housing Bubble, National Real Estate | 68 Comments

S&P Case Shiller: Prices up 2.6% YOY in August

Posted on November 3, 2023 by grim

From CNN: US home prices rose in August for the seventh straight month US home prices continued to rise in August, hitting a new record high and marking the seventh consecutive month of increases. Even as mortgage rates topped 7% in August, historically low inventory continued … Continue reading →

Posted in Economics, Housing Bubble, National Real Estate | 61 Comments

Done?

Posted on November 2, 2023 by grim

From CNN: Markets rise after Federal Reserve hits pause again on rate hikes US markets soared higher Wednesday, rebounding after a dismal October and three straight months of losses. The Dow rose by 221 points, or 0.7%, in Wednesday trading. … Continue reading →

Posted in Economics, Mortgages, National Real Estate | 86 Comments

You pay extra for the ghosts in NJ

Posted on October 31, 2023 by grim

From WBGO: Selling a house in New Jersey? If it’s haunted, you better say so Haunted houses — they’re real — in real estate, that is. New York and New Jersey are two of only four states in the country, … Continue reading →

Posted in Humor, New Jersey Real Estate | 139 Comments

The best doesn’t come cheap

Posted on October 30, 2023 by grim

From Travel+Leisure: 10 Best Places to Live in New Jersey, According to Local Real Estate Experts Recreational and economic opportunities play a major role in choosing where to settle down. As one of the most business-friendly states in the nation, New Jersey’s economy … Continue reading →

Posted in Demographics, New Jersey Real Estate | 38 Comments