Category Archives: Demographics

NYC may see it’s glory days again

Posted on February 27, 2024 by grim

Hat tip to 3b for the Fortune doom loop article: The ‘prophet of urban doom’ says New York City is in major trouble, and it’s just the first inning of the ballgame: ‘The cycle is out of control’ As nicknames … Continue reading →

Posted in Crisis, Demographics, Economics, Employment, Housing Bubble, NYC | 101 Comments

What if rates don’t come down?

Posted on February 26, 2024 by grim

From Newsweek: Housing Market Update: Home Prices Reach Troubling Milestone Insufficient supply of homes in the market is pushing up prices, Wells Fargo economists said, making it tougher for Americans to afford a home amid elevated mortgage rates. The median sale … Continue reading →

Posted in Demographics, Economics, Housing Bubble, Mortgages, National Real Estate | 46 Comments

Are we in the 80s again?

Posted on February 23, 2024 by grim

From Fortune: Say goodbye to the peak of home price appreciation, Fortune 500 chief economist says—it’s behind us Back to the ’80s Fleming has spoken with Fortune on several occasions about the comparison of today’s housing market to that of the 1980s. … Continue reading →

Posted in Demographics, Economics, Housing Bubble, National Real Estate | 67 Comments

Demographics driving housing

Posted on February 22, 2024 by grim

From Newsweek: How Millennials Are Shifting the Housing Market For a large number of millennials, the generation born between 1981 and 1996, the time to buy a home has never been quite right. Older millennials were not yet 30 when … Continue reading →

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

Dying? Already dead.

Posted on February 21, 2024 by grim

From Fast Company: How the starter home became a dying American dream When 26-year old Memphis resident DeMario Johnson returns to his home after working a long day servicing waterwells for the local utility in Raleigh, North Carolina, he doesn’t … Continue reading →

Posted in Crisis, Demographics, Economics, Housing Bubble, National Real Estate | 93 Comments

Free and Clear

Posted on February 20, 2024 by grim

From NJ.com: More than 1 in 3 N.J. homes now mortgage free in major home debt shift More than one-third of homes in New Jersey are mortgage free, mirroring national trends and reaching new highs, federal data shows. U.S. Census … Continue reading →

Posted in Demographics, Economics, Mortgages, National Real Estate, New Jersey Real Estate | 37 Comments

37 NJ towns you can’t afford

Posted on February 14, 2024 by grim

From the Star Ledger: These 37 N.J. towns have home values of at least $1M. See latest statewide ranking. New Jersey’s home prices continued to steadily increase through the end of last year with typical home values of at least … Continue reading →

Posted in Demographics, Economics, New Jersey Real Estate | 100 Comments

NYC’s rent controlled time bomb

Posted on February 11, 2024 by grim

From Bloomberg: Why NYC Apartment Buildings Are on Sale Now for 50% Off Even in the crisp afternoon sunlight, the two-bedroom Manhattan apartment has a ghostly pallor, its cracked walls yellowing like an ancient black-and-white photograph. Paint chips are falling from … Continue reading →

Posted in Crisis, Demographics, Economics, NYC, Politics, Price Reduced | 55 Comments

Short refi window closes

Posted on February 6, 2024 by grim

From CNBC: Mortgage rates jump back over 7% as stronger economic data rolls in The average rate on the popular 30-year fixed mortgage crossed over 7% on Monday for the first time since December, hitting 7.04%, according to Mortgage News Daily. … Continue reading →

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

Finally slowing?

Posted on February 2, 2024 by grim

From CNBC: Home prices began to cool in November after nine straight months of gains, S&P Case-Shiller says Home prices in November fell 0.2% from October, according to the S&P CoreLogic Case-Shiller national home price index. While that may not … Continue reading →

Posted in Demographics, Economics, Housing Bubble, Mortgages, National Real Estate | 124 Comments

NJ second worst state to retire in

Posted on February 1, 2024 by grim

From WalletHub: Best and Worst States to Retire (2024) Many people fear that retirement will mark the end of their financial security, and others worry they might never actually get to retire. That’s understandable when 28% of non-retired adults haven’t saved any … Continue reading →

Posted in Demographics, Economics, Employment, New Jersey Real Estate | 90 Comments

Blame taxes for the inventory?

Posted on January 30, 2024 by grim

From CNN: Boomers are not moving out of their big homes. Here’s why After 33 years and four children, Baby Boomers Marta and Octavian Dragos say they feel trapped in what was once their dream home in El Cerrito, California. … Continue reading →

Posted in Demographics, Economics, Housing Bubble, Politics, Property Taxes | 94 Comments

NJ Homes for $1

Posted on January 29, 2024 by grim

From Patch: $1 Homes For Sale In Newark; Public Lottery Will Mark Milestone Buy a house for a buck? That’s the dream that’s about to become reality for some lucky Newark families on Monday, when the city launches its first … Continue reading →

Posted in Demographics, Economics, New Jersey Real Estate, Politics | 64 Comments

So much for 2023…

Posted on January 26, 2024 by grim

From the NJ Association of Realtors: Monthly Indicators – December 2023 From NJ Business Magazine: Closed Home Sales in NJ Down 22.1% in 2023 New Jersey Realtors has released its 2023 year-end residential real estate housing market data revealing the … Continue reading →

Posted in Demographics, Economics, New Jersey Real Estate | 129 Comments

Those were the days…

Posted on January 17, 2024 by grim

From Fox: This was the average cost of an American home in the decade you were born 1940 In 1940, without adjusting for inflation, the average cost of a home in the United States was $2,938, according to the United … Continue reading →

Posted in Demographics, Economics, Housing Bubble, National Real Estate | 61 Comments