Author Archives: grim

Bezos says stop buying crap from Amazon

Posted on November 21, 2022 by grim

From Motley Fool: Former Amazon CEO Jeff Bezos Has This Advice for Getting Through a Recession The more money you have in savings leading up to a potential recession, the better equipped you’ll be to get through a period of upheaval. So … Continue reading →

Posted in Economics | 44 Comments

October sucked, ignore the price changes

Posted on November 20, 2022 by grim

From CNN: US home sales fall for 9th month in a row in October Home sales in the United States declined for the ninth month in a row in October as surging mortgage rates and high prices pushed buyers out … Continue reading →

Posted in Economics, Housing Bubble, National Real Estate | 28 Comments

Blip or recession?

Posted on November 18, 2022 by grim

From NJ1015: Record streak for New Jersey job growth snapped in October New Jersey’s economy lost jobs in October for the first time in nearly two years, snapping the state’s longest streak of job growth since at least the 1980s. … Continue reading →

Posted in Demographics, Economics, Employment, New Jersey Real Estate | 89 Comments

Spread ’em

Posted on November 15, 2022 by grim

From the WSJ: Mortgage Rates Are High Because Nobody Is Buying Mortgages Bank of America Corp. BAC -1.69%decrease; red down pointing triangle gobbled up hundreds of billions of dollars of mortgage bonds during the height of the pandemic. But with rates rising, its buying … Continue reading →

Posted in Mortgages, National Real Estate | 210 Comments

Deep dive on NJ from the Fed

Posted on November 14, 2022 by grim

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

Posted on November 13, 2022 by grim

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…

Posted on November 11, 2022 by grim

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…

Posted on November 10, 2022 by grim

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!

Posted on November 8, 2022 by grim

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

Posted on November 7, 2022 by grim

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” 

Posted on November 5, 2022 by grim

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

Posted on November 3, 2022 by grim

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

Posted on November 2, 2022 by grim

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!

Posted on November 1, 2022 by grim

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

Posted on October 31, 2022 by grim

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