Category Archives: Crisis

Uh Oh

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?

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

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

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?

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 …

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

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

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

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!

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

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

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

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

Interesting look at mortgage rate lock-in from Fortune:

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

Welcome back old friend

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