Category Archives: Economics

30yr fixed dips below 6%

Posted on February 5, 2023 by grim

From Insider: Mortgage rates are falling back near 6%, reopening the housing market for 3 million home buyers, according to Freddie Mac Mortgage rates are falling back near 6%, and that could help reopen the housing market to about 3 … Continue reading →

Posted in Economics, Mortgages, National Real Estate | 132 Comments

Jobs Day!

Posted on February 3, 2023 by grim

From the NYT: January Jobs Report – Pace of U.S. Hiring Expected to Slow Again The government will provide its latest snapshot of the labor market on Friday, and economists expect it to show that January was another month of … Continue reading →

Posted in Economics, Employment, National Real Estate | 149 Comments

Fed Day!

Posted on February 1, 2023 by grim

From Reuters: Fed expected to deliver small rate hike but keep anti-inflation tilt The Federal Reserve is expected to raise its target interest rate by a quarter of a percentage point on Wednesday, setting aside the rapid hikes used last … Continue reading →

Posted in Economics, Mortgages, National Real Estate | 145 Comments

Survivorship bias? Literally.

Posted on January 31, 2023 by grim

From the NY Post: Single women are outpacing men in homeownership All the single ladies … are buying property.  Indeed, a recent study found that single women are outpacing single men in homeownership.  This new trend has come as a … Continue reading →

Posted in Demographics, Economics, National Real Estate | 42 Comments

Sorry West

Posted on January 30, 2023 by grim

From the Washington Examiner: Huge hit to home prices in west in 2023, Goldman warns: Phoenix, SF, Seattle Houses in several overheated cities in the western United States will see massive price declines in 2023, researchers at Goldman Sachs predict. In a report … Continue reading →

Posted in Demographics, Economics, Employment, Housing Bubble, National Real Estate | 79 Comments

Sounds like more of the usual

Posted on January 28, 2023 by grim

From NJ Business: Year-end NJ Housing Data Shows Market Softening Rising interest rates, low inventory, and climbing prices have cooled the housing market in 2022, with closed sales down 17.8% over 2021, according to year-end data reports from New Jersey … Continue reading →

Posted in Economics, Housing Bubble, Mortgages, New Jersey Real Estate | 59 Comments

Worst behind us?

Posted on January 26, 2023 by grim

From the NY Post: Here’s when US home price declines could end, Goldman Sachs says The ongoing plunge in US home prices may be nearing its end, Goldman Sachs analysts said in a note to clients this week. Long-term mortgage … Continue reading →

Posted in Demographics, Economics, Employment, Housing Recovery, Mortgages, National Real Estate | 120 Comments

Shocker, Americans Misinformed

Posted on January 25, 2023 by grim

From the Hill: Survey finds Americans wildly misinformed on housing market  A new survey finds Americans are woefully misinformed about the nation’s mercurial housing market, even as millions of them prepare to buy homes.   Twenty-eight million Americans plan to purchase a … Continue reading →

Posted in Demographics, Economics, Humor, New Jersey Real Estate | 84 Comments

Landlords making Newark unaffordable?

Posted on January 23, 2023 by grim

From Patch: Corporations Own Most Of Newark’s Homes. New Laws Are Pushing Back It wasn’t long ago that a study from the Rutgers Center on Law, Inequality and Metropolitan Equity made a startling claim about home ownership in New Jersey’s largest city: … Continue reading →

Posted in Economics, Employment, New Jersey Real Estate, Politics | 130 Comments

Hey 2010!

Posted on January 21, 2023 by grim

From Reuters: U.S. home sales slump to 12-year low; glimmers of hope emerging U.S. existing home sales plunged to a 12-year low in December, but declining mortgage rates raised cautious optimism that the embattled housing market could be close to … Continue reading →

Posted in Demographics, Economics, Housing Bubble, Mortgages, National Real Estate | 90 Comments

32 months of job growth

Posted on January 20, 2023 by grim

From the NJ Department of Labor and Workforce Development: NJ’s Job Gains Continue with Slight Uptick in December New Jersey’s labor market grew slightly in December, adding 1,400 nonfarm jobs to a seasonally adjusted level of 4,265,700, according to preliminary estimates produced … Continue reading →

Posted in Demographics, Economics, Employment, New Jersey Real Estate | 58 Comments

Thorough, in-depth, housing forecast from smart Harvard guy.

Posted on January 19, 2023 by grim

From the NY Post: Why US home prices will fall another 10 percent, according to Harvard economist Pain across the US housing market that began last year is likely just getting started if interest rates remain high, star economist Ken … Continue reading →

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

Oh that’s a cute idea, good luck.

Posted on January 18, 2023 by grim

From NJ.com: Companies are flocking back to the U.S. Let’s get them to move here. It’s the time of year when many people make New Year’s resolutions. Some people might go on a diet, or start working out. New Jersey … Continue reading →

Posted in Economics, Employment, New Jersey Real Estate, Politics | 87 Comments

That’s it??

Posted on January 17, 2023 by grim

From Fortune: Up from here? The free-fall in housing market activity just concluded, says Capital Economics Not only did spiking mortgage rates prompt the Pandemic Housing Boom to fizzle out in the summer of 2022, they also pushed housing market transactions into … Continue reading →

Posted in Economics, Housing Bubble, National Real Estate | 108 Comments

Helping with the mortgage

Posted on January 16, 2023 by grim

From Yahoo Finance: Housing expert: ‘Sellers are absolutely having to negotiate’ Housing expert: ‘Sellers are absolutely having to negotiate’ It’s the same housing story across the U.S., according to real estate agents in three U.S. cities. Sellers are offering more … Continue reading →

Posted in Economics, Housing Bubble, Mortgages, National Real Estate | 47 Comments