Category Archives: Economics

The snark is just too good (sorry Mary)

From NJ1015: Is this a $3M dump? No one wants Mary J. Blige’s NJ mansion (Opinion) Singer Mary J. Blige was inducted into the Rock and Roll Hall of Fame last year. She’s won nine Grammy awards, been nominated for … Continue reading

Posted in Economics, Housing Bubble, New Jersey Real Estate | 223 Comments

The kids are alright (kinda)

From Insider: 1980s millennials are finally recovering from the Great Recession Nearly 15 years after the Great Recession hit, the eldest millennials are finally doing alright. Graduating into a blighted job market put them on a rocky road to building both their career … Continue reading

Posted in Demographics, Economics, Employment, National Real Estate | 153 Comments

The new big box mart

From the Real Deal: Northern NJ industrial properties are fetching record rents Warehouse tenants in 2021 paid more for proximity to the largest consumer market in the U.S. than ever before. Retailers, manufacturers and other industrial renters want so badly … Continue reading

Posted in Economics, National Real Estate, New Development, New Jersey Real Estate | 278 Comments

Great Resignation to accelerate?

From NJ1015: Why do more workers plan to jump ship from their jobs in 2022? Job optimism is high as 41% of workers plan to look for a new job in the first six months of 2022, according to Robert … Continue reading

Posted in Demographics, Economics, Employment, National Real Estate | 94 Comments

Slowin’ down

From Fortune: The Great Deceleration? The biggest jump in home prices is behind us—why housing appreciation will slow Year over year, U.S. home prices rose 19.1% between October 2020 and October 2021, according to the S&P CoreLogic Case-Shiller Index, the leading … Continue reading

Posted in Economics, National Real Estate | 118 Comments

The new New Jersey

From NJ Monthly: How Covid-19 Changed the Way We Work in New Jersey When Governor Phil Murphy signed an unprecedented executive order in March 2020 directing New Jersey’s 9 million residents to stay home, the state’s schools and nonessential businesses to shut … Continue reading

Posted in Demographics, Economics, Employment, New Jersey Real Estate | 156 Comments

Strong GDP growth for NJ

From the Star Ledger: Good news: There’s been a wholesale transformation of New Jersey’s economy You might have missed it amid the holiday rush, but 2021 ended with some incredibly positive economic news: for the third quarter, the Garden State ranked … Continue reading

Posted in Economics, Employment, New Jersey Real Estate | 108 Comments

Not such a deep dive

From News 12: Deep Dive: Where things stand now for real estate in New Jersey heading into 2022 Where did 2021 stand when it came to real estate in New Jersey? “Home sales were really hot, especially in the beginning … Continue reading

Posted in Economics, Mortgages, New Jersey Real Estate | 271 Comments

Whatcha waiting for PA?

From CBS Pittsburgh: Pennsylvania Stands Still As Neighbors Hike Minimum Wage, But Some Lawmakers See Action In 2022 What do Ohio, West Virginia, Maryland, New York, New Jersey and Delaware all share in common besides a border with Pennsylvania? They … Continue reading

Posted in Economics, Employment, Philly | 121 Comments

“How high is too high?”

From CNBC: Sales of newly built homes tank as affordability hits buyers At some point the price is just too high. That may be increasingly the case for potential buyers of newly built single-family homes. Sales of those homes in … Continue reading

Posted in Economics, National Real Estate, New Development | 114 Comments

Not slowing down yet

From the WSJ: Homes Sold in November at Fastest Pace in 10 Months Existing-home sales, which rose in November to the highest seasonally adjusted annual rate since January, are on track for their strongest year since 2006 as low mortgage-interest … Continue reading

Posted in Economics, Mortgages, National Real Estate | 137 Comments

Where is everyone?

From Politico: U.S. population growth in 2021 slowest since nation’s founding The U.S. population grew just 0.1 percent in 2021, the slowest rate since the nation was founded in the 18th century, according to data from the U.S. Census Bureau. The … Continue reading

Posted in Demographics, Economics, National Real Estate | 145 Comments

Grim beginnings

Thanks CNN: US could be in store for a ‘grim beginning’ to the new year, experts warn, as dual variants of Covid-19 spread With the Delta and Omicron coronavirus variants spreading across the nation as the new year approaches, health … Continue reading

Posted in Economics, National Real Estate | 238 Comments

When do we get our recovery?

From the NY Federal Reserve: The Region Is Struggling to Recover from the Pandemic Recession The pandemic struck the New York-Northern New Jersey region early and hard, and the economy is still struggling to recover nearly two years later. Indeed, employment … Continue reading

Posted in Demographics, Economics, Employment, New Jersey Real Estate, NYC | 73 Comments

NJ gets back to work

From NJ101.5: As jobless benefits end, NJ sees surge in hiring As enhanced unemployment benefits expired and tens of thousands of New Jerseyans faced the end of jobless benefits altogether, there are signs the hiring crisis is easing. The Garden … Continue reading

Posted in Demographics, Economics, Employment, New Jersey Real Estate | 247 Comments