Category Archives: Economics

Lonely at the top

Posted on September 14, 2023 by grim

From ATTOM: New Jersey And Illinois Have Highest Concentrations Of Housing Markets At Risk Of Declines ATTOM, a leading curator of land, property, and real estate data, today released a Special Housing Impact Report spotlighting county-level housing markets around the United … Continue reading →

Posted in Economics, Housing Bubble, National Real Estate, New Jersey Real Estate, NYC, Philly | 74 Comments

Sorry about your paycheck

Posted on September 13, 2023 by grim

From the WSJ: U.S. Incomes Fall for Third Straight Year Surging inflation gobbled up household income gains last year, making 2022 the third straight year in which Americans saw their living standards eroded by rising prices and pandemic disruptions. Americans’ inflation-adjusted … Continue reading →

Posted in Crisis, Demographics, Economics, Employment, National Real Estate | 57 Comments

NJ DOM on track to break new lows

Posted on September 12, 2023 by grim

From Redfin: New-Jersey Housing Market Overview

Posted in Demographics, Economics, Housing Bubble, New Jersey Real Estate | 78 Comments

New home prices might not be what they seem

Posted on September 11, 2023 by grim

From Wolf Street: Mortgage-Rate Buydowns by Homebuilders Are Now All the Rage to Prop Up Sales, Lowering Effective House Prices in a Big Way, but Don’t Get Picked Up by House Price Data Homebuilders don’t have the luxury of outwaiting … Continue reading →

Posted in Economics, Mortgages, National Real Estate, New Development, Risky Lending | 35 Comments

Affordable? Not today.

Posted on September 9, 2023 by grim

From Yahoo Finance: US Housing Affordability Remains at a Record Low, NAR Says The National Association of Realtors housing affordability index was unchanged at 87.8 in July, matching the lowest level in data back to 1989. A level of 100 … Continue reading →

Posted in Economics, Housing Bubble, Mortgages, National Real Estate | 86 Comments

Lazy millennials already gave up

Posted on September 8, 2023 by grim

From Redfin: Redfin Survey: 1 in 5 Millennial Respondents Believe They’ll Never Own a Home Nearly one of every five (18%) millennials and 12% of Gen Zers who replied to a recent housing survey believe they will never own a … Continue reading →

Posted in Crisis, Demographics, Economics, Employment, National Real Estate | 111 Comments

What happens to NYC rents now?

Posted on September 6, 2023 by grim

From the NYT: New York City’s Crackdown on Airbnb Is Starting. Here’s What to Expect. New York City officials on Tuesday are expected to start enforcing strict new regulations that limit residents’ ability to rent out homes through platforms like … Continue reading →

Posted in Demographics, Economics, New Jersey Real Estate, NYC | 159 Comments

Pay up or walk, suckers.

Posted on September 5, 2023 by grim

From the Star Ledger: Timing was key in sale of N.J. home for $205K over asking price Location may be the key word in real estate but, like anything else, timing can also make a difference. A house in Closter … Continue reading →

Posted in Demographics, Economics, Employment, Housing Bubble, New Jersey Real Estate | 63 Comments

Falling out of love with the shore

Posted on September 4, 2023 by grim

From the Star Ledger: Here’s how the Jersey Shore rental market was this summer and a reminder that it’s not over yet For the first time in a few years, you might’ve gotten a deal or picked up a prime … Continue reading →

Posted in Economics, New Jersey Real Estate, Price Reduced, Shore Real Estate | 26 Comments

Shrinkflation hits housing

Posted on August 27, 2023 by grim

From the Week: The answer to rising home prices: smaller homes With the prices of homes remaining stubbornly unaffordable, the number of available home listings shrinking, and record high mortgage rates, potential homebuyers are increasingly looking to newly constructed homes to fill … Continue reading →

Posted in Demographics, Economics, National Real Estate, New Development | 144 Comments

Sales drop, still no inventory

Posted on August 25, 2023 by grim

From Reuters: US existing home sales slide again, but prices up from a year earlier Existing home sales fell 2.2% in July to a seasonally adjusted annual rate of 4.07 million units, the lowest level since January, from an unrevised … Continue reading →

Posted in Economics, Housing Bubble, National Real Estate | 103 Comments

You’d be crazy to sell

Posted on August 24, 2023 by grim

Interesting look at mortgage rate lock-in from Fortune:

Posted in Crisis, Economics, Mortgages, National Real Estate | 87 Comments

Welcome back old friend

Posted on August 23, 2023 by grim

From Fortune: Housing market affordability is worse now than at the height of the housing bubble in 2006 On Monday, the average 30-year fixed mortgage rate reached 7.48%, marking the highest level since the year 2000. Even prior to this recent surge … Continue reading →

Posted in Crisis, Demographics, Economics, Housing Bubble, Mortgages, National Real Estate | 123 Comments

Sustainable?

Posted on August 22, 2023 by grim

From Yahoo Finance: Goldman Sachs no longer expects US home prices to decline in 2023 Goldman Sachs housing analysts no longer think home prices will fall this year. Instead, they are forecasting a slight increase. “We are revising our home … Continue reading →

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

Dark clouds ahead, or too much pessimism?

Posted on August 21, 2023 by grim

From ROI-NJ: Survey: Will N.J.’s economy remain as is or worsen by end of 2023? How about that economy? The answer may not be that good: 44% of 434 certified public accountants surveyed by the New Jersey Society of Certified Public … Continue reading →

Posted in Demographics, Economics, Employment, New Jersey Real Estate | 63 Comments