Category Archives: Housing Bubble

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

You’ll need to find another way to launder money

Posted on August 11, 2023 by grim

From Reuters: US set to unveil long-awaited crackdown on real estate money laundering The U.S. Treasury Department will soon propose a rule that would effectively end anonymous luxury-home purchases, closing a loophole that the agency says allows corrupt oligarchs, terrorists … Continue reading →

Posted in Housing Bubble, National Real Estate, Politics | 74 Comments

How high can we go?

Posted on August 8, 2023 by grim

From Black Knight: Home Prices Hit New Record Highs in 60% of Major Markets as Annual Growth Rate Rises, Boosting Homeowner Equity Levels The Black Knight Home Price Index (HPI) hit an all-time high in June, this time on both … Continue reading →

Posted in Housing Bubble, National Real Estate, New Jersey Real Estate | 32 Comments

Losing the greatest fools

Posted on August 3, 2023 by grim

From CNBC: Foreign buyers are bailing on the U.S. housing market. Here’s why International buyers are pulling back from the U.S. housing market, as high mortgage rates, soaring home prices, a meager supply of homes for sale and a strong dollar … Continue reading →

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

Prices Up, Inventory Down, Sales Cratering

Posted on July 30, 2023 by grim

From NJ Business: NJ Home Prices Rise but Inventory Falls Residential housing data released this week from New Jersey Realtors, the state trade association representing more than 61,000 Realtors, continues to point to a slower-than-usual summer market, with low inventory … Continue reading →

Posted in Housing Bubble, New Jersey Real Estate, Where's the Beef? | 85 Comments

Did the housing recession even start?

Posted on July 28, 2023 by grim

From the National Association of Realtors: NAR Economist: ‘Housing Recession Is Over’ Contract signings picked up the pace last month, and home buyers are increasingly facing multiple offer situations. NAR releases its housing forecast for the remainder of the year … Continue reading →

Posted in Economics, Housing Bubble, National Real Estate | 67 Comments

Starting to feel a little toppy

Posted on July 26, 2023 by grim

From CNBC: Home prices continue to climb with ‘striking’ regional differences, says S&P Case-Shiller Home prices in May rose for the fourth straight month on the S&P CoreLogic Case-Shiller home price index, but regional differences are widening. The gains come despite … Continue reading →

Posted in Housing Bubble, National Real Estate | 57 Comments

The crazy continues

Posted on July 21, 2023 by grim

From CNN: US home prices stay near record high, even as sales drop in June US home prices continued to fall in June compared to a year ago, but that may not be much comfort to home buyers. Even after … Continue reading →

Posted in Housing Bubble, Mortgages, National Real Estate | 65 Comments

NJ takes #2 spot for May

Posted on July 12, 2023 by grim

From CoreLogic: CoreLogic: US Annual Home Price Growth Drops to the Lowest Rate in 11 Years in May CoreLogic®, a leading global property information, analytics and data-enabled solutions provider, today released the CoreLogic Home Price Index (HPI™) and HPI Forecast™ for May 2023. … Continue reading →

Posted in Economics, Housing Bubble, National Real Estate, New Jersey Real Estate | 152 Comments

Where you shouldn’t buy

Posted on July 10, 2023 by grim

From Yahoo Finance: These Are the 10 Most Overpriced Housing Markets in the U.S. — 5 Are in Florida 10. Nashville, Tennessee 9. Tampa, Florida 8. Deltona, Florida 7. Detroit 6. Palm Bay, Florida 5. Lakeland, Florida 4. Memphis, Tennessee … Continue reading →

Posted in Demographics, Economics, Employment, Housing Bubble, National Real Estate, Where's the Beef? | 22 Comments