Category Archives: New Development

History Rhymes: Gold Coast Loses Its Glitter

Posted on December 27, 2008 by grim

I came across “Housing Inventories on the Rise” this morning and thought it sounded a bit familiar. Sure enough, the same story was published in the New York Times nearly 18 years ago, when the last real estate bubble burst. … Continue reading →

Posted in Housing Bubble, New Development, New Jersey Real Estate | 213 Comments

November New and Existing Home Sales

Posted on December 23, 2008 by grim

From the AP: Existing home sales sink by 8.6 percent in November, as prices plunge a record 13.2 percent A real estate group says sales of existing homes plummeted far more than expected last month as buyers reeled from October’s … Continue reading →

Posted in Economics, Housing Bubble, National Real Estate, New Development, New Jersey Real Estate, Risky Lending | 343 Comments

Multifamily Slows in North Jersey

Posted on December 7, 2008 by grim

From the Record: Multifamily projects in slowdown Builders who started condo and town house projects during the housing boom are now cutting prices or putting the brakes on development as they face a steep downturn in sales. “We’re not going … Continue reading →

Posted in Economics, New Development, New Jersey Real Estate | 75 Comments

Least Affordable: NY Metro Area

Posted on November 17, 2008 by grim

Good News: Housing affordability is improving! Bad News: Not for you! * * NY Metro Area HOI came in at 10.6, better than the mid-single digit figures that were set during the peak of the bubble. However, we’re still a … Continue reading →

Posted in Economics, New Development, New Jersey Real Estate | 113 Comments

Pace of Jersey Teardowns slows

Posted on November 9, 2008 by grim

From the New York Times: A Slower Pace in Teardowns NO. 1 Teardown State. That has been New Jersey’s ranking from the National Trust for Historic Preservation each year since 2002, when the trust began keeping track of how many … Continue reading →

Posted in Economics, New Development, New Jersey Real Estate | 124 Comments

“If it wasn’t for (them), I don’t think I would have sold the house.”

Posted on November 6, 2008 by grim

From the Daily Record: Morris seniors get help moving on to the next phase of their lives Vincent Keegan moved to Cedar Crest in Pompton Plains in late August, after Morris County’s largest senior retirement community helped him sell his … Continue reading →

Posted in Economics, New Development, New Jersey Real Estate | 376 Comments

“First the people go, then the jobs go.”

Posted on July 7, 2008 by grim

From the Gloucester County Times: Pa. out-hustling N.J. in battle for business Gov. Jon Corzine, flanked by some of his top advisers, invited eight of the state’s top real estate executives to the governor’s mansion for coffee and Danish one … Continue reading →

Posted in Economics, New Development, New Jersey Real Estate | 199 Comments

Recovery? You’ve got the graph upside down.

Posted on June 18, 2008 by grim

From Bloomberg: Why Real Estate Market Is Nowhere Near a Bottom: Caroline Baum Every time a housing statistic emits a faint heartbeat — last week’s 6.3 percent increase in the April pending home sales index, for example — there’s a … Continue reading →

Posted in Housing Bubble, National Real Estate, New Development | 3 Comments

“New Jerseyans need homes they can afford”

Posted on June 16, 2008 by grim

From the AP: Housing reform on tap in NJ The Assembly will consider a sweeping plan Monday to revamp New Jersey’s affordable housing laws. Supporters contend the bill would increase affordable housing throughout the state but critics argue it would … Continue reading →

Posted in New Development, New Jersey Real Estate | 205 Comments

April New Home Sales and March Home Prices

Posted on May 27, 2008 by grim

From Bloomberg: S&P/Case-Shiller U.S. Home-Price Index Falls 14.4% Home prices in 20 U.S. metropolitan areas fell in March by the most in at least seven years, pointing to weakness in the housing market that will constrain economic growth. The S&P/Case-Shiller … Continue reading →

Posted in National Real Estate, New Development | 221 Comments

Why rescue underwater borrowers?

Posted on May 8, 2008 by grim

From the WSJ: Keeping Families Above Water May 8, 2008; Page A2 The latest flash point in the debate over the nation’s bursting housing bubble is this: Since so many American houses are worth less than their mortgages, should the … Continue reading →

Posted in Housing Bubble, New Development, Risky Lending | 297 Comments

Ex-NAR economist Lereah changes tune

Posted on May 6, 2008 by grim

From Newsweek: It’s Going to Get Worse Economist David Lereah was once the housing market’s biggest cheerleader. Now he says the bust isn’t near over, and home prices still have a long way to fall. Let me confess at the … Continue reading →

Posted in Economics, Housing Bubble, New Development | 28 Comments

Philly Fed: Not so different here

Posted on March 24, 2008 by grim

From Reuters: Mid-Atlantic banks face more loan losses-report Big Mid-Atlantic banks face more losses from the real estate slump, according to a report on Monday from a regional Federal Reserve that suggests the worst has not passed for the beleaguered … Continue reading →

Posted in New Development, New Jersey Real Estate, Risky Lending | Comments Off on Philly Fed: Not so different here

“But it looks like hell right now.”

Posted on March 19, 2008 by grim

From the Record: Xanadu in ugly predicament The architects of Xanadu’s controversial exterior have been summoned to meet with Meadowlands Sports Complex officials next week to explain how the shopping and entertainment center will evolve into “an acceptable finished product.” … Continue reading →

Posted in New Development, New Jersey Real Estate | 5 Comments

Fort Monmouth redevelopment

Posted on March 19, 2008 by grim

From Forbes: NJ redevelopment plan to be shown Sprawled across 1,100 acres, Fort Monmouth occupies a good chunk of New Jersey, but its high-tech mission constitutes an even larger contribution to the state’s economy. But with the Army base scheduled … Continue reading →

Posted in New Development, New Jersey Real Estate | 1 Comment