Category Archives: Housing Bubble

“A property is worth what a buyer is willing to pay.”

Posted on March 10, 2011 by grim

From the Star Ledger: Fawn Hill Farm sold for bargain price You know the luxury property market is struggling when one of New Jersey’s most lavish estates sells for barely one-quarter of its original listing price. Fawn Hill Farm, the … Continue reading →

Posted in Economics, Housing Bubble, New Jersey Real Estate | 132 Comments

How many bailouts need to fail before they realize it won’t work?

Posted on March 9, 2011 by grim

From CNBC: More Borrowers Underwater: Why We Should Care Falling home prices at the turn of the year pushed more borrowers into a negative equity position, meaning they owe more on their mortgages than their homes are worth. In Q4, … Continue reading →

Posted in Employment, Housing Bubble, National Real Estate, Politics | 87 Comments

It doesn’t matter what you call it, prices are still falling

Posted on March 8, 2011 by grim

From HousingWire: Nameless, formless crisis enveloping nation’s home price indices Fears of a double dip in housing are giving away to a realization that the nation’s mortgage markets are facing a much colder reality — something that will not so … Continue reading →

Posted in Economics, Housing Bubble, National Real Estate | 142 Comments

Kick the can…

Posted on March 2, 2011 by grim

From the WSJ: Housing Market Masochism The U.S. housing market is still wheezing: The Case Shiller home-price index has fallen for five consecutive months and 22.5% of all residential properties with a mortgage are in negative equity, according to CoreLogic’s … Continue reading →

Posted in Employment, Housing Bubble, National Real Estate | 97 Comments

January contracts post new low

Posted on February 28, 2011 by grim

From the Otteau Group: Multiple snow storms and the painfully slow pace of economic recovery combined to reduce New Jersey home sales in January by 22% below the prior year’s pace as the housing market turns the corner heading toward … Continue reading →

Posted in Economics, Housing Bubble, New Jersey Real Estate | 110 Comments

Cocky sellers drop prices at the shore

Posted on February 25, 2011 by grim

From the NY Times: A Low Tide for Home Sales in the Shoreline Market FOR the shoreline real estate market, by unvarying tradition, spring arrives early. Sometime in mid-January, in all four coastal counties — Monmouth, Ocean, Atlantic and Cape … Continue reading →

Posted in Employment, Housing Bubble, Shore Real Estate | 282 Comments

Anything to be optimistic about in the January home sales numbers?

Posted on February 24, 2011 by grim

From Barrons: Depressed Home Prices Boost Sales Sales of existing U.S. homes rose a seasonally adjusted 2.7% from December to January, to a better-than-expected 5.36 million, according to the National Association of Realtors. That figure is an eight-month high and … Continue reading →

Posted in Economics, Housing Bubble, National Real Estate | 169 Comments

New Jersey Home Price Tracker – February 2011

Posted on February 22, 2011 by grim

The New Jersey Home Price Index Tracker has been updated to include: * December S&P Case Shiller (Aggregate, Tiered, Condo) (click to enlarge) (click to enlarge) S&P Case Shiller NY Metro Commutable Area Home Price Index Low Tier (Under $287,359) … Continue reading →

Posted in Economics, Housing Bubble, New Jersey Real Estate | 219 Comments

SHOCKER: Realtors lied about home sales

Posted on February 22, 2011 by grim

(Of course this isn’t the first time someone caught them, see: NAR: 4% Quarterly Gain is (Oops) Actually a 30% Loss. In retrospect, maybe that wasn’t a one-time mistake at all, but an example of a systematic manipulation of data.) … Continue reading →

Posted in Housing Bubble, National Real Estate | 169 Comments

The rich are alright

Posted on February 18, 2011 by grim

From the NY Times: In Market Reports, Some Affluent Towns Do Better Than Others AFFLUENT towns are different from other towns. Their citizens have more money, of course, and their homes have more value. But some affluent towns are different … Continue reading →

Posted in Economics, Housing Bubble, New Jersey Real Estate | 263 Comments

NJ Foreclosure Timeline Shocker – 849 Days from Default to Sheriff Sale

Posted on February 13, 2011 by grim

From the Press of Atlantic City: Bottom Lines: Foreclosures in New Jersey now take an average 849 days We have started to feel the consequences of the robo-signing controversy. There was nationwide concern that the expedited processing set up by … Continue reading →

Posted in Economics, Foreclosures, Housing Bubble, New Jersey Real Estate | 114 Comments

Zillow: Big drop in fourth quarter home prices

Posted on February 9, 2011 by grim

From Inman: Real estate prices close out 2010 in tailspin U.S. home prices fell 2.6 percent from the third quarter of 2010 to the fourth, the biggest drop in nearly two years, according to a report by property portal Zillow. … Continue reading →

Posted in Economics, Housing Bubble, National Real Estate | 159 Comments

Shiller: Another housing bubble unlikely

Posted on February 7, 2011 by grim

From Robert Shiller and the NYT: Housing Bubbles Are Few and Far Between WHAT’S the outlook for home prices over the next decade? It’s not easy to tell. We need to confront the basic fact that near the beginning of … Continue reading →

Posted in Economics, Housing Bubble, National Real Estate | 131 Comments

Double dip over so soon?

Posted on February 3, 2011 by grim

From HousingWire: Clear Capital: Home prices showing life in 2011 Home prices stopped declining in early January and even increased for the first time since August, according to the Clear Capital home price index. Over the last three months, home … Continue reading →

Posted in Employment, Housing Bubble, National Real Estate | 118 Comments

A Squatter’s Market

Posted on February 1, 2011 by grim

From CNBC: Nearly 11 Percent of US Houses Empty I usually find the quarterly homeowner vacancy and homeownership report from Census pretty lackluster, but the latest one released this morning was anything but. America’s home ownership rate, after holding steady … Continue reading →

Posted in Economics, Housing Bubble, National Real Estate | 183 Comments