Category Archives: Economics

Sorry kids, the boomers aren’t leaving what you thought they were.

Posted on October 29, 2023 by grim

Great piece from Insider: The myth of the Great Boomer Wealth Transfer When my husband’s grandmother turned 87, our family realized it was time for us to take over her affairs. Grandma Sue was ailing and recently widowed, so we decided that … Continue reading →

Posted in Demographics, Economics, National Real Estate, Where's the Beef? | 17 Comments

Home offices spur office homes

Posted on October 27, 2023 by grim

Fun collection of stories this morning: Why turning offices into homes is a terrible idea City of Ottawa looking at ways to make office-to-residential conversions easier Conversion of vacant London offices could deliver 28,000 homes to the UK capital These … Continue reading →

Posted in Demographics, Economics, Employment, Housing Bubble, National Real Estate, New Development | 112 Comments

Who the heck is refinancing right now?

Posted on October 26, 2023 by grim

From CNBC: Adjustable-rate mortgage demand hits highest level in nearly a year as interest rates continue to climb Mortgage demand has essentially stalled at the slowest pace since 1995 as mortgage interest rates continue to rise. Total application volume dropped … Continue reading →

Posted in Economics, Housing Bubble, Mortgages, National Real Estate | 110 Comments

Congratulations, you are rich.

Posted on October 24, 2023 by grim

From the Manhattan Institute: Economics Newsletter: Fed Survey Shows Widened Inequality as Stock and Home Prices Rise Last week, The Fed released its tri-annual Survey of Consumer Finances, a survey that offers a detailed look into American household finances. It shows … Continue reading →

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

Where’s the tipping point? 9%? 10%?

Posted on October 23, 2023 by grim

From CNBC: The housing market was already painful, ugly and anxious. Now the 8% mortgage rate is back Today’s housing market is a toxic mix of high mortgage rates, high prices, tight supply and strangely strong pent-up demand — and … Continue reading →

Posted in Economics, Housing Bubble, Mortgages, National Real Estate | 57 Comments

Home sales hit 13 year low

Posted on October 20, 2023 by grim

From CNBC: September home sales drop to the lowest level since the foreclosure crisis Sales of previously owned homes dropped 2% in September from August to a seasonally adjusted, annualized rate of 3.96 million units, according to the National Association … Continue reading →

Posted in Economics, Housing Bubble, Mortgages, National Real Estate | 110 Comments

Stick it to ’em

Posted on October 18, 2023 by grim

From the New York Post: Broker commission system that charges up to 6% could face antitrust probe The moneymaking real estate-commission system where brokers pocket as much as 6% of a sale — and critics charge inflates home prices — … Continue reading →

Posted in Economics, National Real Estate, Unrest | 66 Comments

Going where the cheaper homes are

Posted on October 15, 2023 by grim

From Insider: Locals are being priced out of Texas and Florida. Here’s where they’re looking for affordable homes instead.  As people across the US relocate to Florida and Texas, locals are feeling squeezed — and searching elsewhere for affordable homes. … Continue reading →

Posted in Crisis, Demographics, Economics, Housing Bubble, National Real Estate | 23 Comments

Which breaks first, rates or inventory?

Posted on October 13, 2023 by grim

From MarketWatch: Mortgage rates hit 23-year high and home prices show few signs of cooling. But Redfin says ‘all hope is not lost.’ Why? The U.S. housing market has become unaffordable for many aspiring homeowners, priced out by either high … Continue reading →

Posted in Economics | 115 Comments

Please don’t raise rates

Posted on October 12, 2023 by grim

From CNBC: Housing industry urges Powell to stop raising interest rates or risk an economic hard landing Top real estate and banking officials are calling on the Federal Reserve to stop raising interest rates as the industry suffers through surging … Continue reading →

Posted in Economics, Mortgages, Politics | 114 Comments

Who wants mortgages?

Posted on October 9, 2023 by grim

From HousingWire: Fannie Mae’s chief economist: ‘We don’t expect spreads to come down anytime soon’ When mortgage rates blew past the 7% level earlier this year, the securitization market “froze up temporarily,” according to Doug Duncan, senior vice president and chief economist at … Continue reading →

Posted in Economics, Mortgages, National Real Estate | 100 Comments

What breaks first?

Posted on October 6, 2023 by grim

From the NYT: Rates Are Jumping on Wall Street. What Will It Do to Housing and the Economy? Heather Mahmood-Corley, a real estate agent, was seeing decent demand for houses in the Phoenix area just a few weeks ago, with … Continue reading →

Posted in Economics, Housing Bubble, Mortgages, National Real Estate | 122 Comments

Still comfortable at the top

Posted on October 4, 2023 by grim

From Mansion Global: Manhattan’s Median Home Price Rose 2% Despite Market Turbulence Manhattan’s home prices held steady in the third quarter, despite a gamut of challenges hitting the real estate market across the nation, according to a variety of market … Continue reading →

Posted in Demographics, Economics, Housing Bubble, Mortgages, NYC | 155 Comments

Nothing to see here

Posted on October 3, 2023 by grim

From the NY Post: US office real estate prices headed for ‘severe crash,’ investors say The commercial real estate market is headed for a severe collapse due in large part to sky-high interest rates and declining property values, according to a survey of … Continue reading →

Posted in Crisis, Demographics, Economics, National Real Estate, New Development | 104 Comments

Do mortgage rates even matter anymore?

Posted on October 2, 2023 by grim

From the APP: Mortgage rates double. Here is why that hasn’t killed Jersey Shore home bidding wars With mortgage rates rising to 22-year highs, the prospects for the sale of the house at 321 14th Ave. in Belmar could have … Continue reading →

Posted in Demographics, Economics, Housing Bubble, Mortgages, New Jersey Real Estate, Shore Real Estate | 44 Comments