Author Archives: grim

Jobs Day!

Posted on January 6, 2023 by grim

From the NYT: U.S. Labor Market Expected to Slow The Labor Department’s latest reading on nationwide employment is due at 8:30 a.m. Eastern time on Friday. Forecasters expect the report to show that payrolls grew by about 200,000 in December, … Continue reading →

Posted in Economics, Employment, National Real Estate | 123 Comments

NJ beats the US Avg.

Posted on January 5, 2023 by grim

From the Philly Fed: State Coincident Indexes – November 2022 The Federal Reserve Bank of Philadelphia has released the coincident indexes for the 50 states for November 2022. Over the past three months, the indexes increased in 35 states, decreased … Continue reading →

Posted in Economics, Employment, New Jersey Real Estate | 164 Comments

Manhattan prices dip

Posted on January 4, 2023 by grim

From Bloomberg: Manhattan Home Prices Slip 5.5% in First Decline Since Mid-2020 Manhattan’s homebuying market weakened at the end of last year, but didn’t foreshadow a deep freeze heading into 2023. Co-ops and condos traded for a median of $1.1 million in … Continue reading →

Posted in Housing Bubble, NYC | 130 Comments

Canada blocks foreigner home purchases

Posted on January 3, 2023 by grim

From CNN: Canada is banning some foreigners from buying property after home prices surged Canada in 2023 is closing its doors to foreign investors who want to purchase homes. A new Canadian law took effect January 1 that essentially bans foreign buyers … Continue reading →

Posted in Politics | 62 Comments

Predictions 2023!

Posted on December 31, 2022 by grim

Break out your crystal ball and let’s hear ’em! Recession / Economic Real Estate Stocks/Securities Commodities Inflation

Posted in General | 66 Comments

Home price gains continue to slow

Posted on December 28, 2022 by grim

From the WSJ: Home Prices Fell in October for Fourth Straight Month’ Home prices declined in October from the previous month as higher mortgage interest rates continued to weigh on home-buying demand. The S&P CoreLogic Case-Shiller National Home Price Index, which measures … Continue reading →

Posted in Economics, Housing Bubble, Mortgages, National Real Estate | 208 Comments

Evictions keep piling up

Posted on December 27, 2022 by grim

From the Star Ledger: NJ continues to see backlog in eviction cases, but there are improvements If a landlord filed to evict a tenant in Essex County this year, there’s a good chance the court hasn’t yet turned to the … Continue reading →

Posted in Economics, National Real Estate | 31 Comments

Enough slacking, get back to work

Posted on December 26, 2022 by grim

From NJ1015: Looking for work? New Jersey is the 4th best state to get a job There are so many people out of work across the country, it’s good to know that you can get a job in New Jersey … Continue reading →

Posted in Economics, Employment, New Jersey Real Estate | 11 Comments

Sales Plunge in November

Posted on December 23, 2022 by grim

From Reuters: U.S. existing home sales fall for 10th straight month in November U.S. existing home sales slumped to a 2-1/2 year low in November as the housing market continued to be squeezed by higher mortgage rates. Existing home sales … Continue reading →

Posted in Demographics, Economics, Employment, Housing Bubble, National Real Estate | 120 Comments

You’ll all be famous

Posted on December 22, 2022 by grim

From the Star Ledger: Netflix unveils huge $903M plan for N.J. production studios at ex-military base Netflix unveiled plans Wednesday for an investment of $903 million into a production facility at the former Fort Monmouth in New Jersey that would … Continue reading →

Posted in Economics, New Development, New Jersey Real Estate | 111 Comments

Chasing the Market

Posted on December 21, 2022 by grim

From Mansion Global: Inventory in New York City Rose in November, as Did Price Cuts After nearly three topsy-turvy years, the real estate market in New York City has started to look more like pre-pandemic times, according to a Tuesday … Continue reading →

Posted in Housing Bubble, NYC | 115 Comments

NJ UE 3.4%

Posted on December 20, 2022 by grim

From NJ Business Magazine: NJ’s Unemployment Rate Remains Steady at 3.4% The state’s unemployment rate remained steady at 3.4% in November. Employment reached a seasonally adjusted level of 4,257,900, with nonfarm employment increasing by 11,700 jobs for the month on … Continue reading →

Posted in Economics, Employment, New Jersey Real Estate | 128 Comments

Worrying our way into, and out of, a recession

Posted on December 19, 2022 by grim

From CNN: Why recession fears are back: Americans are losing faith From the executive suite to the grocery aisles to the halls of the Federal Reserve, the big question is: Can red-hot inflation be vanquished without tipping the economy into … Continue reading →

Posted in Demographics, Economics, Employment, National Real Estate | 62 Comments

Flipper profits falling fast

Posted on December 16, 2022 by grim

From CNBC: Home flipping profits drop at the fastest pace in over a decade As the housing market cools quickly, house flippers are finding it harder to make fast profits. In the third quarter, gross flipping profit, which is the … Continue reading →

Posted in Housing Bubble, National Real Estate | 130 Comments

Fed raises, mortgage rates flat

Posted on December 15, 2022 by grim

From Mortgage News Daily: Mortgage Rates Remain Near Recent Lows Despite Fed’s Rate Hike It’s often said here, but bears repeating: by the time the Fed officially announces a rate hike, that rate hike is old news and of no … Continue reading →

Posted in Economics, Mortgages, National Real Estate | 95 Comments