Category Archives: Economics

Not a good time to buy a home…

From CNBC: Consumer confidence in the housing market hits a new low, according to Fannie Mae Rising mortgage rates, high home prices and uncertainty in the overall economy have Americans feeling more pessimistic about the state of the housing market. … Continue reading

Posted in Economics, Housing Bubble, National Real Estate, Where's the Beef? | 129 Comments

Nobody positive about NJ housing

From NJ1015: As interest rates rise, the NJ real estate market’s new twist Interest rates have already been raised several times this year by the Federal Reserve but what’s expected to be another big hike on Wednesday will push the … Continue reading

Posted in Economics, Mortgages, New Jersey Real Estate | 51 Comments

“People are in wait-and-see mode, because the numbers don’t work out” 

From the NYT: The Housing Market Is Worse Than You Think Everyone is feeling the squeeze. “Mortgage rates are sky high, prices are sky high, and there’s no inventory,” said Mark Zandi, the chief economist at Moody’s Analytics. “This may … Continue reading

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

Fed Hates Housing

From Forbes: Fed Chair Calls Housing Market “Very Overheated” Jerome Powell said he viewed the U.S. housing market as “very overheated” after the pandemic, and believes supply and demand need to get back into balance.  Powell spoke at a press … Continue reading

Posted in Economics, Housing Bubble, Mortgages, National Real Estate | 214 Comments

Word of the day: Reshoring

From FreightWaves: North America’s reshoring of the global supply chain With manufacturing and labor markets on the decline with North America’s traditional partners in Asia — and with trade with Russia collapsing — North America is in prime position to … Continue reading

Posted in Economics, Employment, National Real Estate | 75 Comments

Ready … Set … HIKE!

From CNBC: Another interest rate hike from the Federal Reserve is on the way: Here’s how it may affect you This week, the Federal Reserve will likely raise rates for the sixth consecutive time to combat inflation, which is still running at … Continue reading

Posted in Economics, Mortgages, National Real Estate | 50 Comments

Moody’s not optimistic about housing

From MSN: 14 Markets Where Home Prices Could Plummet by 30% The outlook for the nation’s housing market keeps deteriorating. Earlier this year, Mark Zandi, Moody’s Analytics chief economist, told Fortune that several of the most overheated housing markets in … Continue reading

Posted in Economics, Housing Bubble, National Real Estate | 92 Comments

What happened to no bubble?

From CNBC: Pending home sales fell 10% in September, much worse than expected Pending home sales, a measure of signed contracts on existing homes, dropped a much worse-than-expected 10.2% in September from August, according to the National Association of Realtors. … Continue reading

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

Recession Hits Jersey

From ROINJ: N.J. unemployment falls to 3.3%; job growth slows in September On Thursday, the U.S. Bureau of Labor Statistics announced total nonfarm wage and salary employment in New Jersey increased by 3,800 in September, reaching a seasonally adjusted level of 4,239,600. … Continue reading

Posted in Economics, Employment, New Jersey Real Estate | 39 Comments

Housing tanks, buyers screwed

From CNBC: Existing home sales fall to a 10-year low in September, as mortgage rates soar Existing homes are selling at the slowest pace since September 2012, with the exception of a brief drop at the start of the Covid 19 … Continue reading

Posted in Demographics, Economics, Employment, Housing Bubble, Mortgages, National Real Estate | 70 Comments

Brokers Capitulate

From Mortgage News Daily: Another Day, Another 20 Year High in Rates There’s no sense in beating a dead horse or wading through another “same story, different day” assessment of rates. They were already at 20 year highs yesterday, so … Continue reading

Posted in Economics, Mortgages, National Real Estate | 107 Comments

So which is it?

From New York Magazine: Wall Street Banks Are (at Least Somewhat) Freaked Out About a Recession You know things are serious when David Solomon, the Goldman Sachs CEO who spent the summer DJ-ing at Lollapalooza, hasn’t posted on Instagramabout his music since … Continue reading

Posted in Economics, Employment, National Real Estate | 89 Comments

The new New Jersey

From NJ1015: WORK-FROM-HOME SURGE TRANSFORMS NJ ECONOMY Close to 1 million New Jerseyans a day worked from home in 2021, according to Census Bureau estimates from its American Community Survey that underscore the massive changes brought on by the pandemic. … Continue reading

Posted in Demographics, Economics, Employment | 54 Comments

Price declines for the NY Metro

From Patch: Long Island Home Prices, Sales Dip As Interest Rates Rise Long Island’s housing prices have finally started to come down from the all-time highs that were set during the summer. But real estate experts say it’s still a … Continue reading

Posted in Demographics, Economics, Housing Bubble, National Real Estate, NYC | 132 Comments

Uh oh

From CNBC: Inflation increased 0.4% in September, more than expected despite rate hikes Prices consumers pay for a wide variety of goods and services rose more than expected in September as inflation pressures continued to weigh on the U.S. economy. … Continue reading

Posted in Economics, Mortgages | 76 Comments