Category Archives: Economics

October sales … UP!

Posted on November 22, 2024 by grim

From CNBC: Home sales surged in October, just before mortgage rates jumped A sharp drop in mortgage rates brought homebuyers off the fence in October after a slow summer. Sales of previously owned homes last month rose 3.4% from September … Continue reading →

Posted in Economics, Housing Bubble, National Real Estate | 128 Comments

Live like Paul Volker

Posted on November 21, 2024 by grim

From the Record: North Jersey home of President Obama’s economic recovery board chair listed for $3.5M Nestled along Park Street, just a few hundred feet from Montclair’s Applegate Farm stands the Tinkham-Volcker house. Listed for sale in early November for … Continue reading →

Posted in Economics, New Jersey Real Estate, North Jersey Real Estate | 99 Comments

Greedy boomers living too long

Posted on November 19, 2024 by grim

From Fortune: The ‘Oracle of Wall Street’ says home prices need to fall 20% to end the ‘generational schism’ Baby boomers own more homes than millennials and Gen Zers, creating a “generational schism” in the world of housing, according to … Continue reading →

Posted in Crisis, Demographics, Economics, Housing Bubble, Humor, National Real Estate | 170 Comments

Basement Voters Swing Election?

Posted on November 15, 2024 by grim

From Fortune: Top real-estate CEO suggests some young people might have voted for Trump because they’re sick of living in their parents’ basements “The young voters who, after years living in their parents’ basement, swung right in this election, will … Continue reading →

Posted in Crisis, Demographics, Economics, National Real Estate | 91 Comments

Florida falls first?

Posted on November 13, 2024 by grim

From the NY Post: Florida’s crumbling home prices haven’t been this bad since 2011 Florida’s sun-soaked southwestern coast, known for its wealthy enclaves and retirement appeal, is grappling with the steepest home price drops in more than a decade.  From Sarasota’s luxury … Continue reading →

Posted in Demographics, Economics, Housing Bubble, National Real Estate | 139 Comments

Seller and Buyer Profiles

Posted on November 12, 2024 by grim

From the NAR: Profile of Home Buyers and Sellers 2024 First-time home buyers in the last year shrunk to an historic low of just 24 percent of all buyers. Prior to 2008, the share of first-time buyers had a historical … Continue reading →

Posted in Demographics, Economics, Employment, National Real Estate | 55 Comments

No Crash?

Posted on November 11, 2024 by grim

From Bankrate: Is the housing market going to crash? What the experts are saying The U.S. housing market had finally started slowing in late 2022, and home prices seemed poised for a correction. But a strange thing happened on the … Continue reading →

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

Fed Cuts!

Posted on November 7, 2024 by grim

From CNBC: Federal Reserve cuts interest rates by a quarter point The Federal Reserve approved its second consecutive interest rate cut Thursday, moving at a less aggressive pace than before but continuing its efforts to rightsize monetary policy. In a … Continue reading →

Posted in Economics, Housing Bubble, Mortgages, National Real Estate | 17 Comments

Make me move

Posted on November 4, 2024 by grim

From CNET: Most Homebuyers Won’t Budge Until Mortgage Rates Drop to 4%, CNET Survey Finds A recent CNET survey found that half of US adults say lower mortgage rates would make them realistically consider purchasing a house. If average mortgage rates were … Continue reading →

Posted in Economics, Housing Bubble, Mortgages, National Real Estate | 52 Comments

NJ home prices up 552% in 40 years

Posted on November 2, 2024 by grim

From Axios: Washington home prices rose more than 800% in 40 years

Posted in Demographics, Economics, Employment, National Real Estate | 48 Comments

Availability improving?

Posted on October 31, 2024 by grim

From the NAR: October 2024 Monthly Housing Market Trends Report

Posted in Demographics, Economics, National Real Estate | 78 Comments

$700k to live in Staten Island

Posted on October 29, 2024 by grim

From SI Live: Median price of a Staten Island home hits $700,000, report says Staten Island home prices are continuing to rise, according to the latest report from the Staten Island Board of Realtors (SIBOR) — and the median sales price of … Continue reading →

Posted in Demographics, Economics, Housing Bubble, National Real Estate, NYC | 33 Comments

Posted on October 27, 2024 by grim

From the NY Post: Homes for sale in short supply as there’s now 30 renters for every house on the market in US The number of homes for sale for each renter household in the U.S. remains near record lows, … Continue reading →

Posted in Demographics, Economics, Employment, National Real Estate | 55 Comments

Want cheaper houses? Build more of them.

Posted on October 25, 2024 by grim

From Yahoo Finance: Homebuyers still price sensitive as mortgage rates climb: Economist Mortgage rates rose for their fourth straight week, the 30-year fixed rate mortgage now sitting at 6.54%. Existing home sales also fell to a 14-year low, the National Association of … Continue reading →

Posted in Demographics, Economics, Housing Bubble, National Real Estate, New Development | 66 Comments

What buyers?

Posted on October 24, 2024 by grim

From Reuters: US existing home sales slide to 14-year low; prices stay elevated U.S. existing home sales dropped to a 14-year low in September, weighed down by higher mortgage rates and house prices. The second straight monthly decline in home … Continue reading →

Posted in Economics, Housing Bubble, National Real Estate | 49 Comments