Category Archives: Economics

37 NJ towns you can’t afford

Posted on February 14, 2024 by grim

From the Star Ledger: These 37 N.J. towns have home values of at least $1M. See latest statewide ranking. New Jersey’s home prices continued to steadily increase through the end of last year with typical home values of at least … Continue reading →

Posted in Demographics, Economics, New Jersey Real Estate | 100 Comments

NYC’s rent controlled time bomb

Posted on February 11, 2024 by grim

From Bloomberg: Why NYC Apartment Buildings Are on Sale Now for 50% Off Even in the crisp afternoon sunlight, the two-bedroom Manhattan apartment has a ghostly pallor, its cracked walls yellowing like an ancient black-and-white photograph. Paint chips are falling from … Continue reading →

Posted in Crisis, Demographics, Economics, NYC, Politics, Price Reduced | 55 Comments

Best geopolitical news in a decade

Posted on February 8, 2024 by grim

Has nothing to do with real estate, but our neighbors on this side of the world really should be our strongest trade partners. From Quartz: The US imported more from Mexico than China for the first time in decades For … Continue reading →

Posted in Economics, Politics, Unrest | 106 Comments

Short refi window closes

Posted on February 6, 2024 by grim

From CNBC: Mortgage rates jump back over 7% as stronger economic data rolls in The average rate on the popular 30-year fixed mortgage crossed over 7% on Monday for the first time since December, hitting 7.04%, according to Mortgage News Daily. … Continue reading →

Posted in Demographics, Economics, Housing Bubble, Mortgages, National Real Estate | 111 Comments

Sorry Texas

Posted on February 5, 2024 by grim

… Louisiana, and Mississippi.

Posted in Economics, Housing Bubble, National Real Estate | 78 Comments

January a mixed bag for NJ real estate

Posted on February 3, 2024 by grim

From NorthJersey.com: Real estate snapshot: Did North Jersey home prices increase in January? In January, New Jersey’s real estate market saw both positive and negative trends for potential homebuyers. Just about half of New Jersey’s 21 counties saw an increase … Continue reading →

Posted in Economics, Housing Bubble, New Jersey Real Estate | 38 Comments

Finally slowing?

Posted on February 2, 2024 by grim

From CNBC: Home prices began to cool in November after nine straight months of gains, S&P Case-Shiller says Home prices in November fell 0.2% from October, according to the S&P CoreLogic Case-Shiller national home price index. While that may not … Continue reading →

Posted in Demographics, Economics, Housing Bubble, Mortgages, National Real Estate | 124 Comments

NJ second worst state to retire in

Posted on February 1, 2024 by grim

From WalletHub: Best and Worst States to Retire (2024) Many people fear that retirement will mark the end of their financial security, and others worry they might never actually get to retire. That’s understandable when 28% of non-retired adults haven’t saved any … Continue reading →

Posted in Demographics, Economics, Employment, New Jersey Real Estate | 90 Comments

Uh oh…

Posted on January 31, 2024 by grim

From NJ.com: New listings of home sales spiked 72% in this N.J. county. Latest rankings by county.

Posted in Economics, Housing Bubble, New Jersey Real Estate | 78 Comments

Blame taxes for the inventory?

Posted on January 30, 2024 by grim

From CNN: Boomers are not moving out of their big homes. Here’s why After 33 years and four children, Baby Boomers Marta and Octavian Dragos say they feel trapped in what was once their dream home in El Cerrito, California. … Continue reading →

Posted in Demographics, Economics, Housing Bubble, Politics, Property Taxes | 94 Comments

NJ Homes for $1

Posted on January 29, 2024 by grim

From Patch: $1 Homes For Sale In Newark; Public Lottery Will Mark Milestone Buy a house for a buck? That’s the dream that’s about to become reality for some lucky Newark families on Monday, when the city launches its first … Continue reading →

Posted in Demographics, Economics, New Jersey Real Estate, Politics | 64 Comments

So much for 2023…

Posted on January 26, 2024 by grim

From the NJ Association of Realtors: Monthly Indicators – December 2023 From NJ Business Magazine: Closed Home Sales in NJ Down 22.1% in 2023 New Jersey Realtors has released its 2023 year-end residential real estate housing market data revealing the … Continue reading →

Posted in Demographics, Economics, New Jersey Real Estate | 129 Comments

#hodlforever

Posted on January 25, 2024 by grim

About time the rest of the industry noted the behavioral trend that we were one of first to identify and discuss. 2) Mortgage lock-in, and this is one of the major trends I’m looking at in the near future. Should … Continue reading →

Posted in Crisis, Economics, Housing Bubble, Mortgages | 59 Comments

How long to sell?

Posted on January 23, 2024 by grim

From NJ.com: Homes taking longer to sell in N.J. See latest county-by-county rankings. Median Days on Market Burlington County 40 Gloucester County 40 Camden County 42 Union County 44 Middlesex County 45 Somerset County 46 Mercer County 46 Cumberland County … Continue reading →

Posted in Economics, Housing Bubble, New Jersey Real Estate | 69 Comments

Cheers!

Posted on January 19, 2024 by grim

From 42 Freeway: New Jersey Liquor License Overhaul Signed.  Much More To It Than The Press Release So it’s clear that New Jersey lawmakers are not happy that over 1,500 full alcohol plenary licenses are sitting unused for years, which … Continue reading →

Posted in Economics, New Jersey Real Estate, Politics | 57 Comments