Category Archives: Economics

Uh oh, are buyers all gone?

Posted on August 31, 2024 by grim

From Barrons: U.S. Pending Homes Sales Slip to Lowest Level on Record The number of homes going under contract in the U.S. fell back sharply in July, reaching its lowest in decades as soaring prices bar many Americans from the … Continue reading →

Posted in Demographics, Economics, Housing Bubble, National Real Estate | 26 Comments

Market finally moderating?

Posted on August 23, 2024 by grim

From CNBC: Home sales rose in July for the first time in five months Closed sales of previously owned homes rose 1.3% in July compared with June to a seasonally adjusted, annualized rate of 3.95 million units, according to the … Continue reading →

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

Hottest Zip Codes in NJ

Posted on August 22, 2024 by grim

From Fox 5: These NY, NJ towns have the hottest ZIP codes for home sales  Realtor.com has released its 2024 list of hottest zip codes for home sales, and towns in NY and NJ made the list!…Seven of the 10 hottest zip … Continue reading →

Posted in Demographics, Economics, Housing Bubble, National Real Estate, New Jersey Real Estate | 53 Comments

Tippie top?

Posted on August 21, 2024 by grim

From Mansion Global: U.S. Home Price Growth Is Finally Slowing Down U.S. house prices rose 6.8% annually in July, marking the lowest annual increase since January, according to a report from Redfin on Tuesday. Though home value growth is slowing, … Continue reading →

Posted in Economics, Housing Bubble, National Real Estate | 89 Comments

Build baby build

Posted on August 20, 2024 by grim

From NJ.com: One of N.J.’s wealthiest towns to get first luxury apartment complex amid controversy Hundreds of rental units are coming to Colts Neck — one of New Jersey’s wealthiest communities — where developers have already broken ground on the … Continue reading →

Posted in Demographics, Economics, New Development, New Jersey Real Estate, Shore Real Estate | 84 Comments

The commercial slump

Posted on August 19, 2024 by grim

From NorthJersey.com: New commercial real estate projects have slowed in NJ thanks to high borrowing rates Construction in New Jersey isn’t what it used to be. In the commercial real estate sector — think strip malls, industrial warehousing, research and … Continue reading →

Posted in Crisis, Economics, Employment, National Real Estate, New Development | 73 Comments

Go North!

Posted on August 16, 2024 by grim

From the NY Post: Home prices have risen a whopping 79% in five years in this state — and it’s nowhere near Florida or Texas Homebuyers are grabbing their winter gear and flocking to far-flung Maine — where they’ve managed to drive up … Continue reading →

Posted in Demographics, Economics, Housing Bubble, National Real Estate | 130 Comments

Grow baby grow

Posted on August 15, 2024 by grim

From NorthJersey.com: North Jersey city to see the region’s third highest number of new apartment units in 2024 In RentCafe’s annual Apartment Construction Report, analysts reviewed new apartment construction data for 369 U.S. metropolitan areas and uncovered which ones are expected … Continue reading →

Posted in Demographics, Economics, National Real Estate, New Development, NYC | 92 Comments

Will rate cuts unleash inventory and crash the market?

Posted on August 13, 2024 by grim

From Realtor.com: Experts Predict What the Real Estate Market Will Look Like Once Mortgage Rates Drop The high mortgage rates that have paralyzed America’s housing market are falling—and could nosedive further by the end of the year. Rates for a 30-year … Continue reading →

Posted in Economics, Housing Bubble, Mortgages, National Real Estate | 16 Comments

Does it need a comment?

Posted on August 11, 2024 by grim

From Mish: A $150,000 House in 1988 Now Costs $707,500 Thank You Fed

Posted in Demographics, Economics, Housing Bubble, National Real Estate | 31 Comments

NJ #2 in price increases

Posted on August 7, 2024 by grim

From CoreLogic: Home-price growth starting to cool: CoreLogic Home prices continue to rise even as low inventory and high mortgage rates are keeping first-time and repeat homebuyers out of the market, but the pace of appreciation is starting to cool. That’s according to CoreLogic’s … Continue reading →

Posted in Demographics, Economics, Housing Bubble, New Jersey Real Estate | 109 Comments

Housing the next big issue?

Posted on August 6, 2024 by grim

From Politico: Priced out of housing, many younger disillusioned voters embrace populism From California to Krakow, young voters who are losing faith in democracy have been spurred in part by a surprising cause: high rents and rising property prices. The … Continue reading →

Posted in Crisis, Demographics, Economics, Housing Bubble, National Real Estate | 65 Comments

That was quick…

Posted on August 5, 2024 by grim

From CNBC: Treasury yields tumble as recession concerns take hold  U.S. Treasurys slid on Monday as fears about a recession grew after a series of key economic data was released last week. At 4:10 a.m. ET, the yield on the 10-year … Continue reading →

Posted in Economics, Employment, Housing Bubble, National Real Estate | 85 Comments

NY Metro tops the S&P Case Shiller in May

Posted on July 31, 2024 by grim

From the NY Post: Home prices reach record high as affordability crisis worsens Home prices reached a new record in May amid an ongoing housing shortage, even as high mortgage rates continued to push affordability out of reach for millions of Americans. Prices … Continue reading →

Posted in Economics, Housing Bubble, National Real Estate | 85 Comments

The million dollar starter home

Posted on July 30, 2024 by grim

From National Mortgage Professional: Starter Home Prices Topple $1M In More U.S. Cities The barriers towards homeownership continue to mount for more first-time homebuyers, with Zillow reporting that the number of million-dollar starter homes has tripled since 2019. In more than 200 … Continue reading →

Posted in Demographics, Economics, Employment, Housing Bubble | 52 Comments