Author Archives: grim

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

No cheaper over there

Posted on October 11, 2023 by grim

From the Long Island Business News: LI home prices hit new highs amid scant supply  Long Island home prices hit record highs again last month as limited inventory and higher mortgage rates slowed sales.  The median price of closed home … Continue reading →

Posted in General | 81 Comments

Who wants mortgages?

Posted on October 9, 2023 by grim

From HousingWire: Fannie Mae’s chief economist: ‘We don’t expect spreads to come down anytime soon’ When mortgage rates blew past the 7% level earlier this year, the securitization market “froze up temporarily,” according to Doug Duncan, senior vice president and chief economist at … Continue reading →

Posted in Economics, Mortgages, National Real Estate | 100 Comments

Welcome to Eight

Posted on October 7, 2023 by grim

From Mortgage News Daily: Rates Surge Toward 8% After Jobs Data; Can “Spreads” Help? Rates were already high coming into this week. As of last Friday, that meant an average 30yr fixed rate just under 7.5%. As of this Friday, … Continue reading →

Posted in General | 86 Comments

What breaks first?

Posted on October 6, 2023 by grim

From the NYT: Rates Are Jumping on Wall Street. What Will It Do to Housing and the Economy? Heather Mahmood-Corley, a real estate agent, was seeing decent demand for houses in the Phoenix area just a few weeks ago, with … Continue reading →

Posted in Economics, Housing Bubble, Mortgages, National Real Estate | 122 Comments

Still comfortable at the top

Posted on October 4, 2023 by grim

From Mansion Global: Manhattan’s Median Home Price Rose 2% Despite Market Turbulence Manhattan’s home prices held steady in the third quarter, despite a gamut of challenges hitting the real estate market across the nation, according to a variety of market … Continue reading →

Posted in Demographics, Economics, Housing Bubble, Mortgages, NYC | 155 Comments

Nothing to see here

Posted on October 3, 2023 by grim

From the NY Post: US office real estate prices headed for ‘severe crash,’ investors say The commercial real estate market is headed for a severe collapse due in large part to sky-high interest rates and declining property values, according to a survey of … Continue reading →

Posted in Crisis, Demographics, Economics, National Real Estate, New Development | 104 Comments

Do mortgage rates even matter anymore?

Posted on October 2, 2023 by grim

From the APP: Mortgage rates double. Here is why that hasn’t killed Jersey Shore home bidding wars With mortgage rates rising to 22-year highs, the prospects for the sale of the house at 321 14th Ave. in Belmar could have … Continue reading →

Posted in Demographics, Economics, Housing Bubble, Mortgages, New Jersey Real Estate, Shore Real Estate | 44 Comments

The new New York City

Posted on September 30, 2023 by grim

From Business Insider: NYC and its suburbs won’t build new housing, so New Yorkers are flooding into Jersey City and driving up prices New Yorkers have been taking notice of Jersey City real estate for years, and its popularity as an alternative … Continue reading →

Posted in Crisis, Demographics, Economics, Gold Coast, New Development, New Jersey Real Estate, NYC | 56 Comments

Sorry renters

Posted on September 29, 2023 by grim

From RentCafe: Competition for Apartments Intensifies in Midwest This Rental Season, but Miami Holds Onto 1st Place While the Midwest is flexing its muscle in peak rental season, we’re seeing rising competition in the Northeast,as well. The main reason for this … Continue reading →

Posted in Demographics, Economics, Employment, Housing Bubble, New Jersey Real Estate, NYC | 119 Comments

GenX poised to take the lead

Posted on September 28, 2023 by grim

From the NYT: The Greatest Wealth Transfer in History Is Here, With Familiar (Rich) Winners Trillions of dollars in family wealth are set to be passed down in the next few years — and the transfer will largely reinforce U.S. … Continue reading →

Posted in Demographics, Economics, National Real Estate, Unrest | 112 Comments

Welcome Back!

Posted on September 27, 2023 by grim

From CNN: US home prices rose in July to record-high levels US home prices continued to rise in July, hitting a new record high and marking the sixth successive month of gains, as historically low inventory pushes up the cost … Continue reading →

Posted in Crisis, Economics, Housing Bubble, National Real Estate | 117 Comments

Because Garden State Plaza Needs 1400 Housing Units

Posted on September 26, 2023 by grim

From Costar: Unibail Seeks To Add Roughly 1,400 Housing Units to New Jersey Flagship Mall Unibail-Rodamco-Westfield said it plans to build up to nearly 1,400 residential units as part of the major redevelopment and diversification of its large mall in North Jersey, … Continue reading →

Posted in Economics, Housing Bubble, New Development, New Jersey Real Estate, Where's the Beef? | 150 Comments

Good or Bad?

Posted on September 25, 2023 by grim

From NJ Spotlight: Reconciling rising unemployment and strong job growth: NJ’s uncertain fiscal outlook New Jersey’s unemployment rate has steadily risen over the past year and now ranks among the highest in the nation. But while some economists and others … Continue reading →

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

All your money are belong to us

Posted on September 24, 2023 by grim

From CNBC: These are the U.S. states with the highest property taxes—New York and California aren’t in the top 10

Posted in Economics, New Jersey Real Estate, Politics, Property Taxes | 46 Comments