Category Archives: Economics

Blame taxes for the inventory?

From CNN: Boomers are not moving out of their big homes. Here’s why After 33 years and four children, Baby Boomers Marta and Octavian Dragos say they feel trapped in what was once their dream home in El Cerrito, California. … Continue reading

Posted in Demographics, Economics, Housing Bubble, Politics, Property Taxes | 94 Comments

NJ Homes for $1

From Patch: $1 Homes For Sale In Newark; Public Lottery Will Mark Milestone Buy a house for a buck? That’s the dream that’s about to become reality for some lucky Newark families on Monday, when the city launches its first … Continue reading

Posted in Demographics, Economics, New Jersey Real Estate, Politics | 64 Comments

So much for 2023…

From the NJ Association of Realtors: Monthly Indicators – December 2023 From NJ Business Magazine: Closed Home Sales in NJ Down 22.1% in 2023 New Jersey Realtors has released its 2023 year-end residential real estate housing market data revealing the … Continue reading

Posted in Demographics, Economics, New Jersey Real Estate | 129 Comments

#hodlforever

About time the rest of the industry noted the behavioral trend that we were one of first to identify and discuss. 2) Mortgage lock-in, and this is one of the major trends I’m looking at in the near future. Should … Continue reading

Posted in Crisis, Economics, Housing Bubble, Mortgages | 59 Comments

How long to sell?

From NJ.com: Homes taking longer to sell in N.J. See latest county-by-county rankings. Median Days on Market Burlington County 40 Gloucester County 40 Camden County 42 Union County 44 Middlesex County 45 Somerset County 46 Mercer County 46 Cumberland County … Continue reading

Posted in Economics, Housing Bubble, New Jersey Real Estate | 69 Comments

Cheers!

From 42 Freeway: New Jersey Liquor License Overhaul Signed.  Much More To It Than The Press Release So it’s clear that New Jersey lawmakers are not happy that over 1,500 full alcohol plenary licenses are sitting unused for years, which … Continue reading

Posted in Economics, New Jersey Real Estate, Politics | 57 Comments

Oh Shiitake

From Fast Company: Decoding the U.S. housing market: What Opendoor’s performance reveals about home prices At the edge of the sprawling desert community of North Las Vegas, the four-bedroom home at 7473 Moonglade Street epitomized the impact of the mortgage rate shock … Continue reading

Posted in Economics, General, National Real Estate, Price Reduced | 68 Comments

Those were the days…

From Fox: This was the average cost of an American home in the decade you were born 1940 In 1940, without adjusting for inflation, the average cost of a home in the United States was $2,938, according to the United … Continue reading

Posted in Demographics, Economics, Housing Bubble, National Real Estate | 61 Comments

Shrinkflation, even in housing

From Fox 5: Renting in NYC: $1,700 gets you a living room sized apartment, study reveals Renters from every borough in NYC agree that prices are soaring and living spaces are shrinking, but a new study sheds light on just … Continue reading

Posted in Demographics, Economics, Housing Bubble, NYC | 22 Comments

Foreclosure Do-Over

From NJ Monitor: Gov. Murphy signs new foreclosure protection program into law New Jerseyans facing foreclosure will have a new path back to homeownership under a bill Gov. Phil Murphy signed Friday. The new law creates the community wealth preservation program, … Continue reading

Posted in Economics, Housing Bubble, Mortgages, New Jersey Real Estate, Risky Lending | 30 Comments

December a mixed bag for NJ real estate

From Yahoo Finance: Real estate market update: What happened with listings in North Jersey in December December is a traditionally slow month for real estate in New Jersey and across the nation. So it’s no surprise that North Jersey experienced … Continue reading

Posted in Demographics, Economics, Housing Bubble, Mortgages, New Jersey Real Estate | 66 Comments

“Drive till you qualify”

From Business Insider: Millennials are moving to ‘the most boring places in the world’ For nearly two decades millennials morphed dense, amenity-rich urban neighborhoods across America into exclusive playgrounds for the young and childless. Compared with Gen Xers and baby … Continue reading

Posted in Crisis, Demographics, Economics, Housing Bubble, National Real Estate | 43 Comments

Buffalo is the place to be

From Buffalo Rising: Buffalo’s Real Estate Revolution: How It Became 2024’s Hottest Housing Market In the heart of the Great Lakes region, a remarkable transformation is unfolding. Buffalo, once overshadowed by larger cities, has surged to the forefront as the … Continue reading

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

Online gaming not good for the economy?

Who could’a knew? From Gambling News: Report Argues New Jersey iGaming Has Harmed the Economy The gambling industry can provide significant economic boosts to certain areas, creating new jobs and generating millions in tax money. This argument continues to be … Continue reading

Posted in Economics, Employment, New Jersey Real Estate, Politics | 17 Comments

NJ Industrial On Fire

From ROI-NJ: C&W report: Industrial market records highest level of leasing in 2 years Cushman & Wakefield recently released its fourth-quarter 2023 industrial and office statistics for northern and central New Jersey, showing New Jersey’s industrial market recorded its highest level … Continue reading

Posted in Economics, Employment, New Development, New Jersey Real Estate | 47 Comments