Category Archives: New Development

New Home Sales Tank

Posted on March 26, 2024 by grim

From Newsweek: Home Sales Collapse in Several States Sales of new homes in the Northeast and the Midwest plunged in February, helping to bring down the market overall across the country, as elevated mortgage rates dissuaded buyers from purchasing property. … Continue reading →

Posted in Housing Bubble, National Real Estate, New Development | 78 Comments

Building 200,000 Affordable Homes

Posted on March 19, 2024 by grim

From the Record: Senate passes bill to overhaul how NJ towns will meet affordable housing mandate How much affordable housing will New Jersey towns be required to zone for, build, convert or renovate over the next decade?  Gov. Phil Murphy … Continue reading →

Posted in Demographics, Economics, New Development, New Jersey Real Estate, Politics | 92 Comments

Even AI wants to live in NJ

Posted on March 15, 2024 by grim

From ROINJ: CBRE: New Jersey data centers find AI operators are dominant occupiers of space Strong demand for data center space during the second half of 2023 resulted in a new all-time low vacancy rate for the New York tri-state region, … Continue reading →

Posted in Economics, New Development, New Jersey Real Estate | 102 Comments

Transit-based redevelopment

Posted on March 14, 2024 by grim

From Newsweek: Housing Market Solution Could Help New Jersey New Jersey might have just found a solution to its affordable housing crisis, and it involves the undeveloped land outside of its transit system. The Regional Plan Association found 74,000 acres of land … Continue reading →

Posted in Demographics, Housing Bubble, New Development, New Jersey Real Estate, Politics | 95 Comments

$4.9m record breaker in Weehawken

Posted on March 2, 2024 by grim

From Patch: Christie’s International Real Estate Group announces the sale of 12 Henley Place – an iconic and record-breaking sale that set a historic benchmark at Henley on the Hudson, with its remarkable sale price of $4.9 million. Jessica Williams, … Continue reading →

Posted in General, Gold Coast, Housing Bubble, New Development, New Jersey Real Estate | 40 Comments

Eatontown = Hollywood?

Posted on February 24, 2024 by grim

From NJ.com: Netflix plan to build massive N.J. studio gets key approval Netflix’s plans to build a $903 million production studio complexat the former Fort Monmouth army base got a key approval from a local board Wednesday. The Fort Monmouth Economic … Continue reading →

Posted in Economics, Employment, New Development, New Jersey Real Estate, Shore Real Estate | 43 Comments

NJ Industrial On Fire

Posted on January 6, 2024 by grim

From ROI-NJ: C&W report: Industrial market records highest level of leasing in 2 years Cushman & Wakefield recently released its fourth-quarter 2023 industrial and office statistics for northern and central New Jersey, showing New Jersey’s industrial market recorded its highest level … Continue reading →

Posted in Economics, Employment, New Development, New Jersey Real Estate | 47 Comments

Home offices spur office homes

Posted on October 27, 2023 by grim

Fun collection of stories this morning: Why turning offices into homes is a terrible idea City of Ottawa looking at ways to make office-to-residential conversions easier Conversion of vacant London offices could deliver 28,000 homes to the UK capital These … Continue reading →

Posted in Demographics, Economics, Employment, Housing Bubble, National Real Estate, New Development | 112 Comments

Epic Assemblage

Posted on October 19, 2023 by grim

From the NY Post: Ken Griffin plans to build the most expensive home on Earth — a $1B mega-estate Palm Beach, Florida, a playground for the rich and famous, is no stranger to opulence.  But it seems that billionaire hedge-fund … Continue reading →

Posted in Comp Killer, Housing Bubble, National Real Estate, New Development | 72 Comments

Nothing to see here

Posted on October 3, 2023 by grim

From the NY Post: US office real estate prices headed for ‘severe crash,’ investors say The commercial real estate market is headed for a severe collapse due in large part to sky-high interest rates and declining property values, according to a survey of … Continue reading →

Posted in Crisis, Demographics, Economics, National Real Estate, New Development | 104 Comments

The new New York City

Posted on September 30, 2023 by grim

From Business Insider: NYC and its suburbs won’t build new housing, so New Yorkers are flooding into Jersey City and driving up prices New Yorkers have been taking notice of Jersey City real estate for years, and its popularity as an alternative … Continue reading →

Posted in Crisis, Demographics, Economics, Gold Coast, New Development, New Jersey Real Estate, NYC | 56 Comments

Because Garden State Plaza Needs 1400 Housing Units

Posted on September 26, 2023 by grim

From Costar: Unibail Seeks To Add Roughly 1,400 Housing Units to New Jersey Flagship Mall Unibail-Rodamco-Westfield said it plans to build up to nearly 1,400 residential units as part of the major redevelopment and diversification of its large mall in North Jersey, … Continue reading →

Posted in Economics, Housing Bubble, New Development, New Jersey Real Estate, Where's the Beef? | 150 Comments

New home prices might not be what they seem

Posted on September 11, 2023 by grim

From Wolf Street: Mortgage-Rate Buydowns by Homebuilders Are Now All the Rage to Prop Up Sales, Lowering Effective House Prices in a Big Way, but Don’t Get Picked Up by House Price Data Homebuilders don’t have the luxury of outwaiting … Continue reading →

Posted in Economics, Mortgages, National Real Estate, New Development, Risky Lending | 35 Comments

Shrinkflation hits housing

Posted on August 27, 2023 by grim

From the Week: The answer to rising home prices: smaller homes With the prices of homes remaining stubbornly unaffordable, the number of available home listings shrinking, and record high mortgage rates, potential homebuyers are increasingly looking to newly constructed homes to fill … Continue reading →

Posted in Demographics, Economics, National Real Estate, New Development | 144 Comments

Tipping Point

Posted on August 9, 2023 by grim

From MSN: The shrinking American home: As demand rises, builders go smaller “It’s pretty consistent nationally,” said Mikaela Arroyo, director of the New Home Trends Institute at John Burns Real Estate Consulting.  In an April report, JBREC surveyed 290 residential … Continue reading →

Posted in Demographics, National Real Estate, New Development, Where's the Beef? | 37 Comments