Author Archives: grim

Whatcha waiting for PA?

From CBS Pittsburgh: Pennsylvania Stands Still As Neighbors Hike Minimum Wage, But Some Lawmakers See Action In 2022 What do Ohio, West Virginia, Maryland, New York, New Jersey and Delaware all share in common besides a border with Pennsylvania? They … Continue reading

Posted in Economics, Employment, Philly | 121 Comments

“How high is too high?”

From CNBC: Sales of newly built homes tank as affordability hits buyers At some point the price is just too high. That may be increasingly the case for potential buyers of newly built single-family homes. Sales of those homes in … Continue reading

Posted in Economics, National Real Estate, New Development | 114 Comments

Not slowing down yet

From the WSJ: Homes Sold in November at Fastest Pace in 10 Months Existing-home sales, which rose in November to the highest seasonally adjusted annual rate since January, are on track for their strongest year since 2006 as low mortgage-interest … Continue reading

Posted in Economics, Mortgages, National Real Estate | 137 Comments

Where is everyone?

From Politico: U.S. population growth in 2021 slowest since nation’s founding The U.S. population grew just 0.1 percent in 2021, the slowest rate since the nation was founded in the 18th century, according to data from the U.S. Census Bureau. The … Continue reading

Posted in Demographics, Economics, National Real Estate | 145 Comments

Grim beginnings

Thanks CNN: US could be in store for a ‘grim beginning’ to the new year, experts warn, as dual variants of Covid-19 spread With the Delta and Omicron coronavirus variants spreading across the nation as the new year approaches, health … Continue reading

Posted in Economics, National Real Estate | 238 Comments

When do we get our recovery?

From the NY Federal Reserve: The Region Is Struggling to Recover from the Pandemic Recession The pandemic struck the New York-Northern New Jersey region early and hard, and the economy is still struggling to recover nearly two years later. Indeed, employment … Continue reading

Posted in Demographics, Economics, Employment, New Jersey Real Estate, NYC | 73 Comments

NJ gets back to work

From NJ101.5: As jobless benefits end, NJ sees surge in hiring As enhanced unemployment benefits expired and tens of thousands of New Jerseyans faced the end of jobless benefits altogether, there are signs the hiring crisis is easing. The Garden … Continue reading

Posted in Demographics, Economics, Employment, New Jersey Real Estate | 247 Comments

Thanks Millennials!

From the WSJ: Millennials Are Supercharging the Housing Market Alex and Michelle Angert lived the last years of their 20s without a permanent address. They moved out of a small Manhattan apartment in 2018 to stay in short-term rentals around … Continue reading

Posted in Demographics, Economics, National Real Estate | 303 Comments

Realtors: Just 2.9% in 2022

From Fortune: How much 2022 home prices are forecast to shift in each of America’s 100 largest markets It’s official: The rate of U.S. home price growth is finally beginning to decelerate after 16 consecutive months of price acceleration.  That deceleration could … Continue reading

Posted in Economics, National Real Estate | 81 Comments

Prognostication Season

From HousingWire: Will the housing market continue its hot streak in 2022? 1. Demand will continue to be strong into 2022. The first signal we look at to forecast the strength of the housing market is days on market – how fast … Continue reading

Posted in Economics, National Real Estate | 81 Comments

Would someone please think of the $550k a year families. They are not rich.

From the Star Ledger: 96% of N.J. residents would get their full property tax break restored under this Senate plan Efforts to restore the full federal deduction for state and local taxes have run into opposition from some Senate Democrats who want … Continue reading

Posted in Economics, Employment, New Jersey Real Estate, Property Taxes | 224 Comments

Zillow predicts the future

From Zillow (not that they are ever right on anything): Zillow’s Hot Housing Takes for 2022 2022 will fall just short of record-breaking Sellers keep the upper hand Large rentals will be in high demand The ‘Sun Belt surge’ will … Continue reading

Posted in Demographics, Economics, National Real Estate | 178 Comments

Are they really?

From NJB: Despite Labor Issues, Companies are Still Eyeing NJ, Panelists Say According to the U.S. Bureau of Labor Statistics, October marked the tenth consecutive month of nonfarm job gains in New Jersey. The state’s private sector employers added more … Continue reading

Posted in Economics, Employment, New Jersey Real Estate | 252 Comments

$931,698 – What the average NJ resident will pay in taxes over their life

From NJ101.5: New Jersey residents pay the most taxes over a lifetime The governor downplays it and the media, the PR arm of the Democrat Party, seem to ignore it. Taxes are and have been the biggest concerns of most … Continue reading

Posted in Economics, New Jersey Real Estate, Property Taxes | 86 Comments

You load 16 tons, what do you get?

From the Star Ledger: Hudson River rail tunnel gets green light from the feds to start building it A major and final bureaucratic hurdle has been cleared by the Gateway Tunnel project after the U.S. Army Corps Of Engineers issued a permit … Continue reading

Posted in Demographics, Economics, Employment, New Jersey Real Estate, NYC | 259 Comments