Category Archives: Housing Bubble

Hike or Stay?

Posted on September 19, 2023 by grim

From the NYT: Fed Creeps Toward Next Phase in Its Fight Against Inflation Federal Reserve officials are expected to leave interest rates unchanged at their meeting on Wednesday, buying themselves more time to assess whether borrowing costs are high enough … Continue reading →

Posted in Economics, Housing Bubble, Mortgages, National Real Estate | 119 Comments

I prefer the term over-asset’ed

Posted on September 18, 2023 by grim

From Fortune: House poor is back: ‘the new normal for the foreseeable future’ While many first-time home buyers struggle to afford a down payment on a house in today’s market, one of the long-term affordability issues centers on monthly payments … Continue reading →

Posted in Crisis, Demographics, Economics, Housing Bubble, Mortgages | 60 Comments

Blame the boomers!

Posted on September 15, 2023 by grim

From Fox: Why are home prices so expensive? Blame the boomers, Barclays says U.S. home prices across the country are surging even with the astronomical rise in mortgage rates, putting ownership out of reach for millions of Americans.  The spike … Continue reading →

Posted in Demographics, Economics, Housing Bubble, National Real Estate | 68 Comments

Lonely at the top

Posted on September 14, 2023 by grim

From ATTOM: New Jersey And Illinois Have Highest Concentrations Of Housing Markets At Risk Of Declines ATTOM, a leading curator of land, property, and real estate data, today released a Special Housing Impact Report spotlighting county-level housing markets around the United … Continue reading →

Posted in Economics, Housing Bubble, National Real Estate, New Jersey Real Estate, NYC, Philly | 74 Comments

NJ DOM on track to break new lows

Posted on September 12, 2023 by grim

From Redfin: New-Jersey Housing Market Overview

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

Affordable? Not today.

Posted on September 9, 2023 by grim

From Yahoo Finance: US Housing Affordability Remains at a Record Low, NAR Says The National Association of Realtors housing affordability index was unchanged at 87.8 in July, matching the lowest level in data back to 1989. A level of 100 … Continue reading →

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

Pay up or walk, suckers.

Posted on September 5, 2023 by grim

From the Star Ledger: Timing was key in sale of N.J. home for $205K over asking price Location may be the key word in real estate but, like anything else, timing can also make a difference. A house in Closter … Continue reading →

Posted in Demographics, Economics, Employment, Housing Bubble, New Jersey Real Estate | 63 Comments

Buy to Rent Bubble

Posted on September 2, 2023 by grim

From Visual Capitalist: The Monthly Cost of Buying vs. Renting a House in America

Posted in Housing Bubble | 68 Comments

Sales drop, still no inventory

Posted on August 25, 2023 by grim

From Reuters: US existing home sales slide again, but prices up from a year earlier Existing home sales fell 2.2% in July to a seasonally adjusted annual rate of 4.07 million units, the lowest level since January, from an unrevised … Continue reading →

Posted in Economics, Housing Bubble, National Real Estate | 103 Comments

Welcome back old friend

Posted on August 23, 2023 by grim

From Fortune: Housing market affordability is worse now than at the height of the housing bubble in 2006 On Monday, the average 30-year fixed mortgage rate reached 7.48%, marking the highest level since the year 2000. Even prior to this recent surge … Continue reading →

Posted in Crisis, Demographics, Economics, Housing Bubble, Mortgages, National Real Estate | 123 Comments

Sustainable?

Posted on August 22, 2023 by grim

From Yahoo Finance: Goldman Sachs no longer expects US home prices to decline in 2023 Goldman Sachs housing analysts no longer think home prices will fall this year. Instead, they are forecasting a slight increase. “We are revising our home … Continue reading →

Posted in Economics, Housing Bubble, National Real Estate | 139 Comments

20 year high

Posted on August 18, 2023 by grim

From NPR: Mortgage rates just hit their highest since 2002 Mortgage rates jumped to their highest level in more than two decades, making home-ownership even less affordable for many would-be buyers. The average interest rate on a 30-year, fixed-rate home … Continue reading →

Posted in Economics, Housing Bubble, Mortgages | 71 Comments

Too much money, too few options, more records

Posted on August 16, 2023 by grim

From News 12: Home prices on Long Island hit record high  Home prices on Long Island are hitting record highs this summer. In July, Nassau County’s median closing price was $725,000. The price is $30,000 more than the month before, … Continue reading →

Posted in Housing Bubble, National Real Estate, NYC | 124 Comments

9.7% of North Jersey homes over a $1m

Posted on August 15, 2023 by grim

From Redfin: Nearly 1 in 10 U.S. Homes Are Worth at Least $1 Million, Close to All-Time High Just over 8% of U.S. homes are worth $1 million or more, near June 2022’s all-time high of 8.6%.  This analysis estimated … Continue reading →

Posted in Demographics, Economics, Housing Bubble, National Real Estate | 45 Comments

When will rates impact housing?

Posted on August 14, 2023 by grim

From HousingWire: Where are mortgage rates headed? ast week ended with a wild ride for mortgage rates. We anticipated the two inflation reports could help mortgage rates, however, we had a bad bond auction last Thursday, and the 10-year yield rose sharply. Weekly … Continue reading →

Posted in Demographics, Economics, Housing Bubble, Mortgages, National Real Estate | 61 Comments