Category Archives: Economics

Jobs strong in NJ

Posted on June 21, 2024 by grim

From the NJBIA: NJ Gains Jobs in May, Unemployment Dips to 4.6%  The state’s unemployment rate declined by one-tenth of a percentage point for the second consecutive month to 4.6% in May, according to U.S. Bureau of Labor Statistics data … Continue reading →

Posted in Demographics, Economics, Employment, New Jersey Real Estate | 61 Comments

Pays to own a home in NJ

Posted on June 13, 2024 by grim

(Until it doesn’t) From CoreLogic: Homeowner Equity Insights – Q1 2024 CoreLogic analysis shows U.S. homeowners with mortgages (roughly 62% of all properties*) have seen their equity increase by a total of $1.5 trillion since the first quarter of 2023, … Continue reading →

Posted in Economics, Mortgages, National Real Estate, New Jersey Real Estate | 85 Comments

If you have to ask…

Posted on June 11, 2024 by grim

From Newsweek: Map Shows States With Highest Hidden Housing Costs The average annual cost of owning and maintaining a single-family home now exceeds $18,000, according to a new study. Homeownership is often considered a pathway to building wealth, but the ongoing … Continue reading →

Posted in Economics, National Real Estate, New Jersey Real Estate, Property Taxes | 83 Comments

More affordable homes?

Posted on June 10, 2024 by grim

From USA Today: High prices and mortgage rates have plagued the housing market. Now, a welcome shift Mortgage rates are high, home prices are lofty and selection is slim. There isn’t much to like about the housing market, except for one small positive: more … Continue reading →

Posted in Economics, Housing Bubble, National Real Estate | 39 Comments

Still hot

Posted on June 9, 2024 by grim

From NorthJersey.com: Real estate update: May marks 7th month of housing inventory growth across the nation May marked the seventh consecutive month of housing inventory growth across the nation, signaling that the number of homes for sale may slowly be returning to … Continue reading →

Posted in Demographics, Economics, Housing Bubble, National Real Estate, New Jersey Real Estate | 20 Comments

Tick tick tick

Posted on June 8, 2024 by grim

From the Daily Mail: Home prices are falling in these 4 former boomtowns – it’s a bad omen for the rest of America Home prices are falling in four former hotspots – as near-record housing costs push homebuyers away.  Three … Continue reading →

Posted in Demographics, Economics, Employment, Housing Bubble, National Real Estate | 25 Comments

Jobs Day!

Posted on June 7, 2024 by grim

From Yahoo Finance: May jobs report expected to show more signs of cooling labor market The May jobs report is expected to show further signs of cooling in the labor market. The monthly report from the Bureau of Labor Statistics, … Continue reading →

Posted in Economics, Employment, National Real Estate | 103 Comments

First to fall

Posted on June 3, 2024 by grim

From the Daily Mail: The cities where house prices are set to DROP – and most are in the south The cost of real estate only continues to inch upwards in states like New York and Connecticut. However, a new report from financial … Continue reading →

Posted in Economics, Housing Bubble, National Real Estate | 274 Comments

Don’t leave just yet

Posted on June 2, 2024 by grim

From InsiderNJ: Stay NJ Task Force Releases Report Recommending Changes to Simplify and Improve New Jersey’s Property Tax Relief Programs Today, the Stay NJ Task Force released its report providing recommendations for the State to implement the new Stay NJ program while simplifying and … Continue reading →

Posted in Demographics, Economics, New Jersey Real Estate, Politics | 37 Comments

Pending sales post biggest drop in 3 years

Posted on May 31, 2024 by grim

From CNBC: Pending home sales in April slump to lowest level since the start of the pandemic Signed sales contracts on existing homes dropped 7.7% in April compared to March, the slowest pace since April 2020, according to the National … Continue reading →

Posted in Economics, Housing Bubble, Mortgages, National Real Estate | 117 Comments

Until AI takes over

Posted on May 30, 2024 by grim

From the APP: College pays off in NJ: 7th highest median earnings for graduates If you’re graduating from a New Jersey college, you might be in great shape. According to a new study, the Garden State ranks in the top … Continue reading →

Posted in Demographics, Economics, Employment, New Jersey Real Estate | 119 Comments

PSA: Home prices and mortgage rates are not correlated

Posted on May 29, 2024 by grim

From CNN: US home prices hit another record high in March US home prices reached a record high in March, reflecting the housing market’s persistent affordability crisis. The S&P CoreLogic Case-Shiller US National Home Price Index, a measure of home … Continue reading →

Posted in Economics, Housing Bubble, National Real Estate | 134 Comments

Will builders pull back?

Posted on May 28, 2024 by grim

From CNBC: Sales of newly built homes tank in April, as prices and interest rates rise Sales of newly built homes dropped 4.7% in April compared with March, and fell a larger 7.7% from the prior year, the U.S. Census … Continue reading →

Posted in Demographics, Economics, Mortgages, National Real Estate, New Development | 37 Comments

The next tech hotspot?

Posted on May 24, 2024 by grim

From the NY Post: Time to buy in ‘Quantum Valley’? Upstate New York home prices are set to skyrocket as Big Tech moves in Will the San Francisco Bay Area tech hub known as Silicon Valley soon be eclipsed by the … Continue reading →

Posted in Demographics, Economics, Employment, National Real Estate, North Jersey Real Estate, NYC | 45 Comments

April sales dip

Posted on May 23, 2024 by grim

From Reuters: US home sales post second straight monthly drop; house prices accelerate U.S. existing home sales unexpectedly fell in April as higher mortgage rates and house prices weighed on demand, dealing another setback to the housing market. Though the … Continue reading →

Posted in Economics, Housing Bubble, Mortgages, National Real Estate | 94 Comments