Category Archives: Economics

Expensive everywhere you’d want to live

Posted on April 20, 2022 by grim

From Yahoo Finance: Homebuyers just got another grim new statistic: Average home prices in 11 housing markets now exceed $500,000 The U.S. housing market’s half-million dollar club is growing, with more cities than ever posting average home prices above $500,000. … Continue reading →

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

Priced Out

Posted on April 19, 2022 by grim

From CNN: Renters are growing pessimistic they will ever own a home as prices keep rising Faced with a white-hot real estate market, renters are losing confidence they will ever own a home. On average only 43.3% of renters expect to … Continue reading →

Posted in Demographics, Economics, National Real Estate | 83 Comments

NJ Unemployment Falls To 4.2%

Posted on April 15, 2022 by grim

From NJ1015: NJ adds 17,800 jobs, with unemployment and labor force down Employers in New Jersey added 17,800 jobs in March, helping push the state’s unemployment rate down by 0.4 percentage points to 4.2%. Eight of the nine major private … Continue reading →

Posted in Demographics, Economics, Employment | 97 Comments

Welcome to 2007

Posted on April 10, 2022 by grim

From Forbes: The housing market just hit a level not seen since 2007 The financial sting of soaring home prices—up 32.6% over the past two years—was lessened, to a degree, by historically low mortgage rates during the pandemic. Even as … Continue reading →

Posted in Economics, Housing Bubble, Mortgages | 173 Comments

Donuts anyone?

Posted on April 7, 2022 by grim

From Bloomberg: New Yorkers Plan to Cut Time Spent in the Office by Half, Survey Finds Most New Yorkers who worked from home during the pandemic plan to cut their time in the office by nearly half and spend less … Continue reading →

Posted in Demographics, Economics, Employment, New Jersey Real Estate | 233 Comments

Welcome back to five

Posted on April 6, 2022 by grim

From CNBC: 30-year fixed mortgage crosses 5%  The average rate on the popular 30-year fixed mortgage just crossed 5%, now standing at 5.02%, according to Mortgage News Daily. This is the first time it has crossed that threshold since 2011, … Continue reading →

Posted in Economics, Mortgages, National Real Estate | 90 Comments

The B-Word

Posted on April 3, 2022 by grim

From CBS News: Federal Reserve issues warning over “brewing U.S. housing bubble” Homebuyers have faced a tough choice during the pandemic: Swallow rapid price increases and forgo typical steps like house inspections, or risk getting left out of the real estate … Continue reading →

Posted in Demographics, Economics, Housing Bubble, National Real Estate | 158 Comments

Did NYC kill NYC?

Posted on March 31, 2022 by grim

From the NY Post: NY’s job deficit continues to grow from already high pre-pandemic levels: federal data New York still has 454,000 fewer private-sector jobs than it had two years ago before the coronavirus pandemic hammered the city and state — … Continue reading →

Posted in Demographics, Economics, Employment, NYC | 173 Comments

A lot to stomach

Posted on March 28, 2022 by grim

From Fortune: The housing market faces its biggest test yet There has been no shortage of theories on how the ongoing housing boom is going to end. Reopening corporate offices were supposed to tamp down on remote workers buying in far-flung places. … Continue reading →

Posted in Demographics, Economics, Mortgages, National Real Estate | 294 Comments

NJ Unemployment down to 4.6%

Posted on March 26, 2022 by grim

From the APP: NJ has regained nearly 90% of jobs lost to pandemic, and pay is rising too New Jersey employers added 25,900 jobs in February, the state Department of Labor and Workforce Development reported Thursday, continuing the job market’s … Continue reading →

Posted in Demographics, Economics, Employment, New Jersey Real Estate | 40 Comments

Where did they all go?

Posted on March 25, 2022 by grim

From the NY Post: Startling data reveals how many people have fled NYC during COVID pandemic The Big Apple’s population has been hollowed out during the COVID-19 pandemic — with Manhattan suffering the biggest population decline among all US counties, according to … Continue reading →

Posted in Demographics, Economics, Employment, National Real Estate | 78 Comments

Should I stay or should I go?

Posted on March 24, 2022 by grim

From the Star Ledger: Most residents say N.J. is a good place to live, but a third want to leave, poll shows The majority of New Jerseyans like living here, but more than a third say they’d like to move … Continue reading →

Posted in Demographics, Economics, Employment, New Jersey Real Estate | 187 Comments

Uh Oh Time Yet?

Posted on March 22, 2022 by grim

From Marketwatch: ‘The housing market is in the early stages of a substantial downshift’: Home sales may drop 25% by the end of summer, according to this analyst The popular spring home-buying season is just ramping up. But one analyst … Continue reading →

Posted in Demographics, Economics, Employment, Housing Bubble, National Real Estate | 128 Comments

Top?

Posted on March 19, 2022 by grim

From Yahoo Finance: Sales of U.S. Previously Owned Homes Decline to a Six-Month Low Sales of previously owned U.S. homes fell in February by more than forecast to a six-month low as a limited supply of properties and high prices … Continue reading →

Posted in Demographics, Economics, Employment, Housing Bubble, National Real Estate | 188 Comments

Bye bye cheap mortgages?

Posted on March 18, 2022 by grim

From the MPA: Mortgage rates – historically low era comes to an end The 30-year mortgage rate climbed above the 4% mark shortly after the Federal Reserve approved its first interest rate hike in more than three years. Freddie Mac … Continue reading →

Posted in Economics, Mortgages, National Real Estate | 65 Comments