Author Archives: grim

Sorry kids, the boomers aren’t leaving what you thought they were.

Posted on October 29, 2023 by grim

Great piece from Insider: The myth of the Great Boomer Wealth Transfer When my husband’s grandmother turned 87, our family realized it was time for us to take over her affairs. Grandma Sue was ailing and recently widowed, so we decided that … Continue reading →

Posted in Demographics, Economics, National Real Estate, Where's the Beef? | 17 Comments

Home offices spur office homes

Posted on October 27, 2023 by grim

Fun collection of stories this morning: Why turning offices into homes is a terrible idea City of Ottawa looking at ways to make office-to-residential conversions easier Conversion of vacant London offices could deliver 28,000 homes to the UK capital These … Continue reading →

Posted in Demographics, Economics, Employment, Housing Bubble, National Real Estate, New Development | 112 Comments

Who the heck is refinancing right now?

Posted on October 26, 2023 by grim

From CNBC: Adjustable-rate mortgage demand hits highest level in nearly a year as interest rates continue to climb Mortgage demand has essentially stalled at the slowest pace since 1995 as mortgage interest rates continue to rise. Total application volume dropped … Continue reading →

Posted in Economics, Housing Bubble, Mortgages, National Real Estate | 110 Comments

Buyer must feed the …

Posted on October 25, 2023 by grim

From NorthJersey.com: Once a New Jersey church, this $650K Zillow Gone Wild home for sale comes with a graveyard When browsing homes for sale, you stumble upon a swimming pool or a newly built deck. But, have you ever seen … Continue reading →

Posted in Crisis, Housing Bubble, Humor, New Jersey Real Estate | 145 Comments

Congratulations, you are rich.

Posted on October 24, 2023 by grim

From the Manhattan Institute: Economics Newsletter: Fed Survey Shows Widened Inequality as Stock and Home Prices Rise Last week, The Fed released its tri-annual Survey of Consumer Finances, a survey that offers a detailed look into American household finances. It shows … Continue reading →

Posted in Demographics, Economics, Housing Bubble, National Real Estate | 67 Comments

Where’s the tipping point? 9%? 10%?

Posted on October 23, 2023 by grim

From CNBC: The housing market was already painful, ugly and anxious. Now the 8% mortgage rate is back Today’s housing market is a toxic mix of high mortgage rates, high prices, tight supply and strangely strong pent-up demand — and … Continue reading →

Posted in Economics, Housing Bubble, Mortgages, National Real Estate | 57 Comments

Preserving History

Posted on October 21, 2023 by grim

From the NYT: The Holmdel Horn, a Cosmic Shrine in New Jersey, Stays Put A radio telescope that discovered evidence of the Big Bang in 1964, revolutionizing the study of the universe, will remain in its original place on Crawford Hill in … Continue reading →

Posted in New Jersey Real Estate | 46 Comments

Home sales hit 13 year low

Posted on October 20, 2023 by grim

From CNBC: September home sales drop to the lowest level since the foreclosure crisis Sales of previously owned homes dropped 2% in September from August to a seasonally adjusted, annualized rate of 3.96 million units, according to the National Association … Continue reading →

Posted in Economics, Housing Bubble, Mortgages, National Real Estate | 110 Comments

Epic Assemblage

Posted on October 19, 2023 by grim

From the NY Post: Ken Griffin plans to build the most expensive home on Earth — a $1B mega-estate Palm Beach, Florida, a playground for the rich and famous, is no stranger to opulence.  But it seems that billionaire hedge-fund … Continue reading →

Posted in Comp Killer, Housing Bubble, National Real Estate, New Development | 72 Comments

Stick it to ’em

Posted on October 18, 2023 by grim

From the New York Post: Broker commission system that charges up to 6% could face antitrust probe The moneymaking real estate-commission system where brokers pocket as much as 6% of a sale — and critics charge inflates home prices — … Continue reading →

Posted in Economics, National Real Estate, Unrest | 66 Comments

Sorry stagers, physical home staging is dead

Posted on October 17, 2023 by grim

Hard to believe these staging companies ever really existed. Warehouses full of furniture? Using humans to temporarily move in and out furniture, just to get photographs of a home? It’s gotten a whole lot cheaper to put lipstick on the … Continue reading →

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

Does the sales dip precede the price decline?

Posted on October 16, 2023 by grim

From the WSJ: Home Sales on Track for Slowest Year Since Housing Bust

Posted in General | 26 Comments

Going where the cheaper homes are

Posted on October 15, 2023 by grim

From Insider: Locals are being priced out of Texas and Florida. Here’s where they’re looking for affordable homes instead.  As people across the US relocate to Florida and Texas, locals are feeling squeezed — and searching elsewhere for affordable homes. … Continue reading →

Posted in Crisis, Demographics, Economics, Housing Bubble, National Real Estate | 23 Comments

Which breaks first, rates or inventory?

Posted on October 13, 2023 by grim

From MarketWatch: Mortgage rates hit 23-year high and home prices show few signs of cooling. But Redfin says ‘all hope is not lost.’ Why? The U.S. housing market has become unaffordable for many aspiring homeowners, priced out by either high … Continue reading →

Posted in Economics | 115 Comments

Please don’t raise rates

Posted on October 12, 2023 by grim

From CNBC: Housing industry urges Powell to stop raising interest rates or risk an economic hard landing Top real estate and banking officials are calling on the Federal Reserve to stop raising interest rates as the industry suffers through surging … Continue reading →

Posted in Economics, Mortgages, Politics | 114 Comments