Category Archives: Economics

Hybrid NJ

Posted on January 14, 2023 by grim

From NorthJersey.com: ‘Working remotely is here to stay’: NJ considering new tax break for hybrid offices New Jersey officials say they’re contemplating a new tax break designed to lure companies interested in having their staff work from home rather than in the … Continue reading →

Posted in Economics, Employment, New Jersey Real Estate, Property Taxes | 57 Comments

You take the good, you take the bad, you take them both, and there you have…

Posted on January 12, 2023 by grim

From the Times Union: Hudson Valley housing prices exploded in 2020. What happens now? In the late summer of 2019, when the word “pandemic” was most likely to call up images of the Spanish flu or the Black Death, the … Continue reading →

Posted in Demographics, Economics, Employment, NYC | 152 Comments

Is it really so bad?

Posted on January 11, 2023 by grim

From Fox Business: Concerns over a ‘white collar recession’ grow as Goldman Sachs, Morgan Stanley, Amazon and others cut jobs Concerns about a “white collar recession” grew Tuesday after Goldman Sachs began to lay off workers as part of a plan to … Continue reading →

Posted in Demographics, Economics, Employment, National Real Estate | 107 Comments

Confidence improves … a little

Posted on January 10, 2023 by grim

From CNBC: Consumer confidence in housing finally rises, thanks to falling home prices Mortgage rates are still twice what they were a year ago, but home prices have been falling since June, and that’s finally making consumers feel better about … Continue reading →

Posted in Economics, Housing Bubble, National Real Estate | 99 Comments

Not even that hot…

Posted on January 7, 2023 by grim

From Insider: The most honest man in real estate thinks the housing market isn’t going to crash Miller is a polymath: he has guided Floridians through understanding how Miami could adjust and profit off of the influx of New York-based buyers in … Continue reading →

Posted in Economics, National Real Estate, NYC | 87 Comments

Jobs Day!

Posted on January 6, 2023 by grim

From the NYT: U.S. Labor Market Expected to Slow The Labor Department’s latest reading on nationwide employment is due at 8:30 a.m. Eastern time on Friday. Forecasters expect the report to show that payrolls grew by about 200,000 in December, … Continue reading →

Posted in Economics, Employment, National Real Estate | 123 Comments

NJ beats the US Avg.

Posted on January 5, 2023 by grim

From the Philly Fed: State Coincident Indexes – November 2022 The Federal Reserve Bank of Philadelphia has released the coincident indexes for the 50 states for November 2022. Over the past three months, the indexes increased in 35 states, decreased … Continue reading →

Posted in Economics, Employment, New Jersey Real Estate | 164 Comments

Home price gains continue to slow

Posted on December 28, 2022 by grim

From the WSJ: Home Prices Fell in October for Fourth Straight Month’ Home prices declined in October from the previous month as higher mortgage interest rates continued to weigh on home-buying demand. The S&P CoreLogic Case-Shiller National Home Price Index, which measures … Continue reading →

Posted in Economics, Housing Bubble, Mortgages, National Real Estate | 208 Comments

Evictions keep piling up

Posted on December 27, 2022 by grim

From the Star Ledger: NJ continues to see backlog in eviction cases, but there are improvements If a landlord filed to evict a tenant in Essex County this year, there’s a good chance the court hasn’t yet turned to the … Continue reading →

Posted in Economics, National Real Estate | 31 Comments

Enough slacking, get back to work

Posted on December 26, 2022 by grim

From NJ1015: Looking for work? New Jersey is the 4th best state to get a job There are so many people out of work across the country, it’s good to know that you can get a job in New Jersey … Continue reading →

Posted in Economics, Employment, New Jersey Real Estate | 11 Comments

Sales Plunge in November

Posted on December 23, 2022 by grim

From Reuters: U.S. existing home sales fall for 10th straight month in November U.S. existing home sales slumped to a 2-1/2 year low in November as the housing market continued to be squeezed by higher mortgage rates. Existing home sales … Continue reading →

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

You’ll all be famous

Posted on December 22, 2022 by grim

From the Star Ledger: Netflix unveils huge $903M plan for N.J. production studios at ex-military base Netflix unveiled plans Wednesday for an investment of $903 million into a production facility at the former Fort Monmouth in New Jersey that would … Continue reading →

Posted in Economics, New Development, New Jersey Real Estate | 111 Comments

NJ UE 3.4%

Posted on December 20, 2022 by grim

From NJ Business Magazine: NJ’s Unemployment Rate Remains Steady at 3.4% The state’s unemployment rate remained steady at 3.4% in November. Employment reached a seasonally adjusted level of 4,257,900, with nonfarm employment increasing by 11,700 jobs for the month on … Continue reading →

Posted in Economics, Employment, New Jersey Real Estate | 128 Comments

Worrying our way into, and out of, a recession

Posted on December 19, 2022 by grim

From CNN: Why recession fears are back: Americans are losing faith From the executive suite to the grocery aisles to the halls of the Federal Reserve, the big question is: Can red-hot inflation be vanquished without tipping the economy into … Continue reading →

Posted in Demographics, Economics, Employment, National Real Estate | 62 Comments

Fed raises, mortgage rates flat

Posted on December 15, 2022 by grim

From Mortgage News Daily: Mortgage Rates Remain Near Recent Lows Despite Fed’s Rate Hike It’s often said here, but bears repeating: by the time the Fed officially announces a rate hike, that rate hike is old news and of no … Continue reading →

Posted in Economics, Mortgages, National Real Estate | 95 Comments