Category Archives: Demographics

Bottom?

Posted on June 22, 2023 by grim

From Redfin: There Were Fewer Homes for Sale in May Than Any Other Month on Record The number of homes for sale in the U.S. fell 7.1% year over year to 1.4 million on a seasonally adjusted basis in May. … Continue reading →

Posted in Demographics, Economics, Housing Bubble, National Real Estate | 80 Comments

Could be worse, we could be the UK

Posted on June 19, 2023 by grim

From the Guardian: Millions are facing soaring mortgage rates. How did we leave them so vulnerable? There is a cross-party consensus that Britain as a property-owning democracy should promote home ownership. To that end, 7.5 million people hold a record £1.7tn … Continue reading →

Posted in Crisis, Demographics, Economics, Mortgages, Philly | 76 Comments

Pending sales tracking far below previous years

Posted on June 16, 2023 by grim

From Redfin: Housing Market Update: There Are Nearly 40% Fewer Homes For Sale Than Pre-Pandemic The total number of U.S. homes for sale dropped 6% from a year earlier during the four weeks ending June 11, the biggest decline in … Continue reading →

Posted in Demographics, Economics, Employment, Housing Bubble, National Real Estate | 63 Comments

Keep Spending, Boomers.

Posted on June 13, 2023 by grim

From CNN: Gen Z and Millennials are scrimping. Boomers? Living it up Baby Boomers are living it up, splurging on cruises and restaurants. Younger Americans are struggling just to keep up. Bank of America internal data shows a “significant gap” … Continue reading →

Posted in Demographics, Economics, National Real Estate | 88 Comments

Buying a home in La La Land

Posted on June 9, 2023 by grim

From the Philly Inquirer: The Philly area doesn’t have enough homes available for low- and middle-income buyers More than one million homes nationwide were available for sale in late April. But high prices mean that what’s out there doesn’t match … Continue reading →

Posted in Demographics, Economics, Employment, National Real Estate, Philly | 69 Comments

How much higher can rents go?

Posted on June 8, 2023 by grim

From Zumper: New York City Metro Report

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

Boomers back in charge

Posted on June 6, 2023 by grim

From Bank of America: The Great Migration continues The rise of Boomers as the main homebuyer The latest Home Buyers and Sellers Generational Trends report from the National Association of Realtors found that for the first time since 2014, Baby … Continue reading →

Posted in Demographics, Economics, National Real Estate, NYC | 54 Comments

NJ labor force participation at 10 year high

Posted on June 4, 2023 by grim

From Insider NJ: New Jersey Labor Market Remains Robust; Unemployment Rate Steady at 3.5%  New Jersey’s labor market remained strong in April, with nonfarm employment increasing by 15,800 jobs to a seasonally adjusted level of 4,332,300, and the unemployment rate holding steady at 3.5 … Continue reading →

Posted in Demographics, Economics, Employment, New Jersey Real Estate | 15 Comments

How much money would you dump into 900 square feet?

Posted on June 2, 2023 by grim

From the NYT: Priced Out of the City, They Bought a Tiny Suburban Home. Now What? Much has been written about “good enough” marriages, but what of “good enough” houses in “I guess we have to live somewhere” neighborhoods? This … Continue reading →

Posted in Demographics, Economics, New Jersey Real Estate, NYC | 91 Comments

Musk knows real estate?

Posted on May 31, 2023 by grim

From Insider: Elon Musk warns house prices are set to plunge – and says commercial real estate is in meltdown Elon Musk is once again ringing the alarm on the US real-estate sector.  “Commercial real estate is melting down fast. … Continue reading →

Posted in Demographics, Economics, National Real Estate | 97 Comments

NJ Shutdown Ahead

Posted on May 30, 2023 by grim

From Insider NJ: Murphy Unlocks the Nuclear Launch Codes Skipping over the preliminaries — meetings, discussions, negotiations or compromises with legislative leaders — Gov. Phil Murphy went directly to the nuclear option— shutting down state government on July 1 if … Continue reading →

Posted in Demographics, New Jersey Real Estate, Politics, Property Taxes | 66 Comments

Sorry about the price of your buildings

Posted on May 27, 2023 by grim

From the NY Post: Remote work is cutting NYC office value by half: Study Working from home is killing office buildings’ worth.  As remote and hybrid work prove to be enduring trends, researchers are predicting grim fates for the future … Continue reading →

Posted in Demographics, Economics, National Real Estate, New Development, NYC | 35 Comments

Time for the middle?

Posted on May 17, 2023 by grim

From the NY Times: Coastal Cities Priced Out Low-Wage Workers. Now College Graduates Are Leaving, Too. The college graduates who fill white-collar jobs in the San Francisco area began to leave in growing numbers about a decade ago. More and … Continue reading →

Posted in Demographics, Economics, Employment, National Real Estate | 103 Comments

Does anyone still work in NYC?

Posted on May 16, 2023 by grim

From the NY Post: New Jersey Gov. Phil Murphy attempts to woo New Yorkers in retaliation for congestion tax The grass is greener in the Garden State? New Jersey Gov. Phil Murphy sure wants you to think so! Murphy is … Continue reading →

Posted in Demographics, Economics, Gold Coast, New Jersey Real Estate, NYC | 52 Comments

Where’s the top?

Posted on May 14, 2023 by grim

From US News: New Jersey Housing Market Forecast Buyer demand in New Jersey remains strong, says LaRue. But higher borrowing rates have had an impact on buyer demand. “Two years ago, people were paying over $100,000 over asking,” says LaRue, referring to … Continue reading →

Posted in Demographics, Economics, Employment, New Jersey Real Estate | 59 Comments