Category Archives: Economics

Strong GDP growth for NJ

Posted on January 6, 2022 by grim

From the Star Ledger: Good news: There’s been a wholesale transformation of New Jersey’s economy You might have missed it amid the holiday rush, but 2021 ended with some incredibly positive economic news: for the third quarter, the Garden State ranked … Continue reading →

Posted in Economics, Employment, New Jersey Real Estate | 108 Comments

Not such a deep dive

Posted on January 3, 2022 by grim

From News 12: Deep Dive: Where things stand now for real estate in New Jersey heading into 2022 Where did 2021 stand when it came to real estate in New Jersey? “Home sales were really hot, especially in the beginning … Continue reading →

Posted in Economics, Mortgages, New Jersey Real Estate | 271 Comments

Whatcha waiting for PA?

Posted on December 29, 2021 by grim

From CBS Pittsburgh: Pennsylvania Stands Still As Neighbors Hike Minimum Wage, But Some Lawmakers See Action In 2022 What do Ohio, West Virginia, Maryland, New York, New Jersey and Delaware all share in common besides a border with Pennsylvania? They … Continue reading →

Posted in Economics, Employment, Philly | 121 Comments

“How high is too high?”

Posted on December 26, 2021 by grim

From CNBC: Sales of newly built homes tank as affordability hits buyers At some point the price is just too high. That may be increasingly the case for potential buyers of newly built single-family homes. Sales of those homes in … Continue reading →

Posted in Economics, National Real Estate, New Development | 114 Comments

Not slowing down yet

Posted on December 23, 2021 by grim

From the WSJ: Homes Sold in November at Fastest Pace in 10 Months Existing-home sales, which rose in November to the highest seasonally adjusted annual rate since January, are on track for their strongest year since 2006 as low mortgage-interest … Continue reading →

Posted in Economics, Mortgages, National Real Estate | 137 Comments

Where is everyone?

Posted on December 22, 2021 by grim

From Politico: U.S. population growth in 2021 slowest since nation’s founding The U.S. population grew just 0.1 percent in 2021, the slowest rate since the nation was founded in the 18th century, according to data from the U.S. Census Bureau. The … Continue reading →

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

Grim beginnings

Posted on December 20, 2021 by grim

Thanks CNN: US could be in store for a ‘grim beginning’ to the new year, experts warn, as dual variants of Covid-19 spread With the Delta and Omicron coronavirus variants spreading across the nation as the new year approaches, health … Continue reading →

Posted in Economics, National Real Estate | 238 Comments

When do we get our recovery?

Posted on December 19, 2021 by grim

From the NY Federal Reserve: The Region Is Struggling to Recover from the Pandemic Recession The pandemic struck the New York-Northern New Jersey region early and hard, and the economy is still struggling to recover nearly two years later. Indeed, employment … Continue reading →

Posted in Demographics, Economics, Employment, New Jersey Real Estate, NYC | 73 Comments

NJ gets back to work

Posted on December 17, 2021 by grim

From NJ101.5: As jobless benefits end, NJ sees surge in hiring As enhanced unemployment benefits expired and tens of thousands of New Jerseyans faced the end of jobless benefits altogether, there are signs the hiring crisis is easing. The Garden … Continue reading →

Posted in Demographics, Economics, Employment, New Jersey Real Estate | 247 Comments

Thanks Millennials!

Posted on December 15, 2021 by grim

From the WSJ: Millennials Are Supercharging the Housing Market Alex and Michelle Angert lived the last years of their 20s without a permanent address. They moved out of a small Manhattan apartment in 2018 to stay in short-term rentals around … Continue reading →

Posted in Demographics, Economics, National Real Estate | 303 Comments

Realtors: Just 2.9% in 2022

Posted on December 14, 2021 by grim

From Fortune: How much 2022 home prices are forecast to shift in each of America’s 100 largest markets It’s official: The rate of U.S. home price growth is finally beginning to decelerate after 16 consecutive months of price acceleration.  That deceleration could … Continue reading →

Posted in Economics, National Real Estate | 81 Comments

Prognostication Season

Posted on December 12, 2021 by grim

From HousingWire: Will the housing market continue its hot streak in 2022? 1. Demand will continue to be strong into 2022. The first signal we look at to forecast the strength of the housing market is days on market – how fast … Continue reading →

Posted in Economics, National Real Estate | 81 Comments

Would someone please think of the $550k a year families. They are not rich.

Posted on December 10, 2021 by grim

From the Star Ledger: 96% of N.J. residents would get their full property tax break restored under this Senate plan Efforts to restore the full federal deduction for state and local taxes have run into opposition from some Senate Democrats who want … Continue reading →

Posted in Economics, Employment, New Jersey Real Estate, Property Taxes | 224 Comments

Zillow predicts the future

Posted on December 9, 2021 by grim

From Zillow (not that they are ever right on anything): Zillow’s Hot Housing Takes for 2022 2022 will fall just short of record-breaking Sellers keep the upper hand Large rentals will be in high demand The ‘Sun Belt surge’ will … Continue reading →

Posted in Demographics, Economics, National Real Estate | 178 Comments

Are they really?

Posted on December 7, 2021 by grim

From NJB: Despite Labor Issues, Companies are Still Eyeing NJ, Panelists Say According to the U.S. Bureau of Labor Statistics, October marked the tenth consecutive month of nonfarm job gains in New Jersey. The state’s private sector employers added more … Continue reading →

Posted in Economics, Employment, New Jersey Real Estate | 252 Comments