Category Archives: New Jersey Real Estate

NJ labor force participation at 10 year high

Posted on June 4, 2023 by grim

From Insider NJ: New Jersey Labor Market Remains Robust; Unemployment Rate Steady at 3.5%  New Jersey’s labor market remained strong in April, with nonfarm employment increasing by 15,800 jobs to a seasonally adjusted level of 4,332,300, and the unemployment rate holding steady at 3.5 … Continue reading →

Posted in Demographics, Economics, Employment, New Jersey Real Estate | 15 Comments

How much money would you dump into 900 square feet?

Posted on June 2, 2023 by grim

From the NYT: Priced Out of the City, They Bought a Tiny Suburban Home. Now What? Much has been written about “good enough” marriages, but what of “good enough” houses in “I guess we have to live somewhere” neighborhoods? This … Continue reading →

Posted in Demographics, Economics, New Jersey Real Estate, NYC | 91 Comments

Hold on to your wallets…

Posted on May 18, 2023 by grim

From the NJ Monitor: State ‘well prepared’ to handle $2B dip in tax revenue, treasurer says New Jersey will collect roughly $2 billion less in taxes in the current and coming fiscal years, but the years of booming revenue will … Continue reading →

Posted in Economics, New Jersey Real Estate, Politics | 134 Comments

Where’s the top?

Posted on May 14, 2023 by grim

From US News: New Jersey Housing Market Forecast Buyer demand in New Jersey remains strong, says LaRue. But higher borrowing rates have had an impact on buyer demand. “Two years ago, people were paying over $100,000 over asking,” says LaRue, referring to … Continue reading →

Posted in Demographics, Economics, Employment, New Jersey Real Estate | 59 Comments

Northern NJ shuts out warehouses

Posted on May 4, 2023 by grim

From the Real Deal: Warehouses banned in 400,000 acres of North Jersey The New Jersey Highlands Region won’t be high on industrial developers’ list anymore. The state’s Highlands Council prohibited warehouse development in 398,000 acres of the 860,000-acre region, NorthJersey.com reported. … Continue reading →

Posted in Demographics, Employment, New Development, New Jersey Real Estate | 131 Comments

VLY goes all-in

Posted on May 3, 2023 by grim

From the Real Deal: Jersey boys: Valley Bank emerges as lifeline for NYC real estate For a few weeks in March, it seemed like 2008 all over again.  The tech industry’s go-to lender, Silicon Valley Bank, was seized. Depositors rushed to … Continue reading →

Posted in New Jersey Real Estate, NYC, Risky Lending | 96 Comments

NJ losing jobs

Posted on April 22, 2023 by grim

From the APP: NJ jobs shrinking? Employers still hiring? Making sense out of economic crystal ball New Jersey lost 2,600 jobs in March and its unemployment rate remained steady at 3.5%, the state Department of Labor and Workforce Development said … Continue reading →

Posted in Economics, New Jersey Real Estate | 30 Comments

Fastest selling markets in NJ (Feb edition)

Posted on April 15, 2023 by grim

From Redfin: New Jersey Towns Where Homes are Still Selling Fast According to RedFin‘s February 2023 data, it takes 61 days to sell a home in New Jersey, which is an 11 day increase from 2022. We’ve compiled a list of … Continue reading →

Posted in Demographics, Economics, Housing Bubble, New Jersey Real Estate | 53 Comments

Who can afford all this?

Posted on April 11, 2023 by grim

From Stacker: The 50 cities in New Jersey where home prices are rising the fastest

Posted in Demographics, Economics, Housing Bubble, New Jersey Real Estate | 19 Comments

Big Discount?

Posted on March 30, 2023 by grim

From the Star Ledger: More N.J. homes are selling below asking price List price and what buyers actually paid for a home in New Jersey have been wildly different for the past few years. Bidding wars that drove up sales … Continue reading →

Posted in Demographics, Economics, Employment, New Jersey Real Estate | 82 Comments

Can’t buy? Just rent!

Posted on March 17, 2023 by grim

From the NY Post – Hat Tip ChiFi: North Jersey beats out NYC for the hottest rental market in the US As interest rates remain high to combat languishing inflation, warding off potential home buyers, the rental market has been … Continue reading →

Posted in Demographics, Economics, New Jersey Real Estate | 93 Comments

Post Pandemic Job Recovery

Posted on March 15, 2023 by grim

From the State of NJ: Updated Labor Data: New Jersey Experienced Higher Employment Growth Over Past 2 Years Than First Reported TRENTON – The state’s job market performed better than initially estimated over the past two years, with 34,000 additional jobs … Continue reading →

Posted in Economics, Employment, New Jersey Real Estate | 114 Comments

Suck it up

Posted on March 10, 2023 by grim

From the Record: Is $500K the new $300K? What you’ll pay for a starter home in North Jersey Newlyweds Joseph and Cheryl Petta just wanted to buy their first home in North Jersey. It was a disheartening year and a … Continue reading →

Posted in Demographics, Economics, Housing Bubble, New Jersey Real Estate | 197 Comments

NJ Economic Outlook

Posted on March 7, 2023 by grim

From Charles Steindel at the Steve Sweeny Center for Public Policy at Rowan: Multi-Year Budget Workgroup: New Jersey Economic Outlook New Jersey’s economy did well in 2022, setting new highs in jobs, output, and income, generally matching or exceeding growth in … Continue reading →

Posted in Demographics, Economics, Employment, New Jersey Real Estate | 90 Comments

Liquor up

Posted on February 24, 2023 by grim

From InsiderNJ: Governor Murphy Holds Roundtable Discussion on Modernizing New Jersey’s Antiquated Liquor Licensing Laws Governor Phil Murphy today held a roundtable discussion where he met with stakeholders to gather input and learn from diverse perspectives for his new legislative … Continue reading →

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