Category Archives: Economics

Price declines for the NY Metro

Posted on October 14, 2022 by grim

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

Posted on October 13, 2022 by grim

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

No, they are going to spend like drunken sailors

Posted on October 11, 2022 by grim

From MarketWatch: ‘We’re likely to see one of the greatest transfers of intergenerational wealth,’ as $68 trillion set to ‘reshape economy,’ says head of TIAA What big issues will we be reading about in MarketWatch when it comes to retirement? … Continue reading →

Posted in Economics, Where's the Beef? | 239 Comments

No recession in NJ’s industrial markets

Posted on October 10, 2022 by grim

From NJBIZ: Industrial real estate sector closes Q3 with strong fundamentals Rounding the corner on 2022, the industrial real estate sector closed the third quarter with strong fundamentals. The vacancy rate is under 3% while rents continue to grow as … Continue reading →

Posted in Economics, New Jersey Real Estate | 75 Comments

Hellooo 7 point o

Posted on October 8, 2022 by grim

From CNBC: Unemployment rate falls to 3.5% in September, payrolls rise by 263,000 as job market stays strong Job growth fell just short of expectations in September and the unemployment rate declined despite efforts by the Federal Reserve to slow … Continue reading →

Posted in Demographics, Economics, Employment, National Real Estate | 41 Comments

Jobs Day!

Posted on October 7, 2022 by grim

From CNBC: Friday’s jobs report could be a case where good news isn’t really good Investors are closely watching the nonfarm payrolls report due out Friday, but not for the usual reasons. In normal times, strong job gains and rising … Continue reading →

Posted in Economics, Employment, National Real Estate | 84 Comments

Corelogic’s Losers

Posted on October 6, 2022 by grim

From Money.com: 5 Cities Where Home Prices Are Most Likely to Fall Next Year It’s been quite a turnaround for the once-hot housing market: Home prices are already falling in many cities, and there’s more where that came from. New data from real … Continue reading →

Posted in Economics, Housing Bubble, National Real Estate | 59 Comments

So much for the mortgage industry

Posted on September 29, 2022 by grim

From CNBC: Mortgage refinancing drops to a 22-year low as interest rates surge even higher Mortgage rates drove even higher last week after the Federal Reserve signaled it would continue its aggressive action to cool inflation. That, and rising uncertainty … Continue reading →

Posted in Economics, Mortgages, National Real Estate | 78 Comments

Poof

Posted on September 28, 2022 by grim

From CNBC: Home prices cooled in July at the fastest rate in the history of S&P Case-Shiller Index U.S. home prices cooled in July at the fastest rate in the history of the S&P CoreLogic Case-Shiller Index, according to a … Continue reading →

Posted in Demographics, Economics, Employment, Housing Bubble, National Real Estate | 69 Comments

“More remote work leads to higher house prices and rents”

Posted on September 27, 2022 by grim

From Bloomberg: Remote Work Drove Over 60% of House-Price Surge, Fed Study Finds The shift to working from home drove more than half of the increase in house and rent prices during the pandemic and will likely drive up costs … Continue reading →

Posted in Demographics, Economics, Employment, Housing Bubble, National Real Estate | 86 Comments

The starter home may never exist again

Posted on September 26, 2022 by grim

From the NYT: Whatever Happened to the Starter Home? As recently as the 1990s, when Jason Nageli started off, the home-building industry was still constructing what real-estate ads would brightly call the “starter home.” In the Denver area, he sold … Continue reading →

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

Foreclosures coming?

Posted on September 25, 2022 by grim

From Patch: NJ Housing Market Troubles Loom As Foreclosures Surge: Reports With inflation still high, foreclosures nearing pre-pandemic levels and a recession potentially looming, new analysis warns that New Jersey has some of the nation’s most vulnerable housing markets. Meanwhile, … Continue reading →

Posted in Economics, Foreclosures, Mortgages, New Jersey Real Estate | 18 Comments

UK brings out the big guns to fight recession

Posted on September 23, 2022 by grim

From CNBC: UK government dishes out extensive tax cuts as country braces for recession The measures include: Cancellation of a planned rise in corporation tax to 25%, keeping it at 19%, the lowest rate in the G-20. A reversal in … Continue reading →

Posted in Economics, Politics | 99 Comments

Not going to get better any time soon

Posted on September 22, 2022 by grim

From CNN: Home sales dropped 20% in August from a year ago Home sales declined for the seventh month in a row in August as higher mortgage rates and stubbornly high prices pushed prospective buyers out of the market. Sales of existing … Continue reading →

Posted in Economics, Housing Bubble, National Real Estate | 96 Comments

Decision Day

Posted on September 21, 2022 by grim

From CNBC: Fed expected to hike rates by three-quarters of a point again, but its forecast may matter most It’s not what the Federal Reserve does, but what it says it could do in the future that will be most … Continue reading →

Posted in Economics, Mortgages, National Real Estate | 122 Comments