Category Archives: Crisis

Uh Oh

Posted on December 1, 2023 by grim

From CNBC: Pending home sales drop to a record low, even worse than during the financial crisis Pending home sales, a measure of signed contracts on existing homes, dropped 1.5% in October from September. They hit the lowest level since … Continue reading →

Posted in Crisis, Economics, Housing Bubble, Mortgages, National Real Estate | 111 Comments

$75k or $525k?

Posted on November 28, 2023 by grim

Ohhhhh, Millennials… From the Messenger: Millennials Say Over $500K Would Buy Them Happiness: Report Each generation has a different idea of the cost of happiness. For millennials, more than $500,000 annually would be the key. In a survey conducted by The Harris Poll, 2,034 … Continue reading →

Posted in Crisis, Demographics, Economics, Humor | 138 Comments

Three’s Company is cool again

Posted on November 27, 2023 by grim

From CNBC: Gen Z, millennials are ‘house hacking’ to become homeowners in a tough market. How the strategy can help Gen Z and millennials are “hacking” the housing market as high prices and interest rates make affordability difficult. The term “house hacking” refers … Continue reading →

Posted in Crisis, Demographics, Housing Bubble, National Real Estate | 30 Comments

Somebody’s not happy

Posted on November 17, 2023 by grim

From the NYT: The Fed Has Put Our Housing Market in Jeopardy The Federal Reserve’s relentless attack on inflation is jeopardizing our housing market. The resulting damage is not only having an impact on a critical engine of economic growth … Continue reading →

Posted in Crisis, Demographics, Economics, Housing Bubble, Mortgages, National Real Estate | 75 Comments

Least affordable … ever?

Posted on November 12, 2023 by grim

From Black Knight: From the NAHB: Rising Mortgage Rates Push Housing Affordability to Lowest Level in Index History Rising mortgage rates, elevated construction costs and limited existing inventory helped push housing affordability in the third quarter of 2023 to its … Continue reading →

Posted in Crisis, Demographics, Economics, Housing Bubble, National Real Estate | 73 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

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

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

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

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

I prefer the term over-asset’ed

Posted on September 18, 2023 by grim

From Fortune: House poor is back: ‘the new normal for the foreseeable future’ While many first-time home buyers struggle to afford a down payment on a house in today’s market, one of the long-term affordability issues centers on monthly payments … Continue reading →

Posted in Crisis, Demographics, Economics, Housing Bubble, Mortgages | 60 Comments

Sorry about your paycheck

Posted on September 13, 2023 by grim

From the WSJ: U.S. Incomes Fall for Third Straight Year Surging inflation gobbled up household income gains last year, making 2022 the third straight year in which Americans saw their living standards eroded by rising prices and pandemic disruptions. Americans’ inflation-adjusted … Continue reading →

Posted in Crisis, Demographics, Economics, Employment, National Real Estate | 57 Comments

Lazy millennials already gave up

Posted on September 8, 2023 by grim

From Redfin: Redfin Survey: 1 in 5 Millennial Respondents Believe They’ll Never Own a Home Nearly one of every five (18%) millennials and 12% of Gen Zers who replied to a recent housing survey believe they will never own a … Continue reading →

Posted in Crisis, Demographics, Economics, Employment, National Real Estate | 111 Comments

You’d be crazy to sell

Posted on August 24, 2023 by grim

Interesting look at mortgage rate lock-in from Fortune:

Posted in Crisis, Economics, Mortgages, National Real Estate | 87 Comments

Welcome back old friend

Posted on August 23, 2023 by grim

From Fortune: Housing market affordability is worse now than at the height of the housing bubble in 2006 On Monday, the average 30-year fixed mortgage rate reached 7.48%, marking the highest level since the year 2000. Even prior to this recent surge … Continue reading →

Posted in Crisis, Demographics, Economics, Housing Bubble, Mortgages, National Real Estate | 123 Comments