Author Archives: grim

Deep dive on NJ from the Fed

From Liberty Street Economics @ The NY Fed: A Look at the New York-Northern New Jersey Region’s Pandemic Housing Boom Since the start of the pandemic, home prices in the U.S. have increased by an astonishing 40 percent. The New … Continue reading

Posted in Economics, Employment, Housing Bubble, New Jersey Real Estate, North Jersey Real Estate, NYC | 58 Comments

Never a good time to be a first time buyer

From the NYT: ‘It’s Never Our Time’: First-Time Home Buyers Face a Brutal Market First-time buyers account for the smallest share of the market in the 41 years that the National Association of Realtors has tracked such data. In the year from … Continue reading

Posted in Demographics, Economics, Employment, National Real Estate | 16 Comments

That was fast…

From CNBC: Mortgage rates fall sharply to under 7% after inflation eases Mortgage rates fell sharply Thursday after a government report showed that inflation had cooled in October, prompting a decline in bond yields. The average rate on the 30-year fixed plunged … Continue reading

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

Not a good time to buy a home…

From CNBC: Consumer confidence in the housing market hits a new low, according to Fannie Mae Rising mortgage rates, high home prices and uncertainty in the overall economy have Americans feeling more pessimistic about the state of the housing market. … Continue reading

Posted in Economics, Housing Bubble, National Real Estate, Where's the Beef? | 129 Comments

Mid-terms 2022!

From the Star Ledger: Everything you need to know about N.J. midterm elections Tuesday, including all House races Get ready, New Jersey. Tuesday is Election Day in the 2022 midterm elections, with all 12 of the state’s seats in the U.S. House of … Continue reading

Posted in Politics | 248 Comments

Nobody positive about NJ housing

From NJ1015: As interest rates rise, the NJ real estate market’s new twist Interest rates have already been raised several times this year by the Federal Reserve but what’s expected to be another big hike on Wednesday will push the … Continue reading

Posted in Economics, Mortgages, New Jersey Real Estate | 51 Comments

“People are in wait-and-see mode, because the numbers don’t work out” 

From the NYT: The Housing Market Is Worse Than You Think Everyone is feeling the squeeze. “Mortgage rates are sky high, prices are sky high, and there’s no inventory,” said Mark Zandi, the chief economist at Moody’s Analytics. “This may … Continue reading

Posted in Economics, Housing Bubble, Mortgages, National Real Estate | 26 Comments

Fed Hates Housing

From Forbes: Fed Chair Calls Housing Market “Very Overheated” Jerome Powell said he viewed the U.S. housing market as “very overheated” after the pandemic, and believes supply and demand need to get back into balance.  Powell spoke at a press … Continue reading

Posted in Economics, Housing Bubble, Mortgages, National Real Estate | 214 Comments

Word of the day: Reshoring

From FreightWaves: North America’s reshoring of the global supply chain With manufacturing and labor markets on the decline with North America’s traditional partners in Asia — and with trade with Russia collapsing — North America is in prime position to … Continue reading

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

Ready … Set … HIKE!

From CNBC: Another interest rate hike from the Federal Reserve is on the way: Here’s how it may affect you This week, the Federal Reserve will likely raise rates for the sixth consecutive time to combat inflation, which is still running at … Continue reading

Posted in Economics, Mortgages, National Real Estate | 50 Comments

Moody’s not optimistic about housing

From MSN: 14 Markets Where Home Prices Could Plummet by 30% The outlook for the nation’s housing market keeps deteriorating. Earlier this year, Mark Zandi, Moody’s Analytics chief economist, told Fortune that several of the most overheated housing markets in … Continue reading

Posted in Economics, Housing Bubble, National Real Estate | 92 Comments

What happened to no bubble?

From CNBC: Pending home sales fell 10% in September, much worse than expected Pending home sales, a measure of signed contracts on existing homes, dropped a much worse-than-expected 10.2% in September from August, according to the National Association of Realtors. … Continue reading

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

Why the delta?

From Slate: The Reason Home Prices Are Finally Dropping National averages mask significant variation at the metropolitan level. Every one of California’s major cities—including Los Angeles, San Diego, and the Bay Area, some of the most expensive real estate markets … Continue reading

Posted in Housing Bubble, National Real Estate, New Jersey Real Estate, NYC | 83 Comments

Here we gooooooo!

From CNBC: Home prices cooled at a record pace in August, S&P Case-Shiller says Home prices are still higher than they were a year ago, but gains are shrinking at the fastest pace on record, according to one key metric, … Continue reading

Posted in Housing Bubble, National Real Estate | 79 Comments

Price Reduced! Superstar!

From the Star Ledger: One of the oldest log cabins in the U.S. is up for sale — again — in N.J. It’s a case of history repeating itself, this time at a much marked-down price. Billed as “the oldest … Continue reading

Posted in New Jersey Real Estate, Price Reduced | 163 Comments