Category Archives: New Jersey Real Estate

NJ unemployment a miserable 7.0%

Posted on November 22, 2021 by grim

From ROI-NJ: N.J. employment continues on comeback trail, DOL says New Jersey grew its employment for the 10th consecutive month in October, according to the Department of Labor & Workforce Development, with the unemployment rate ticking lower as well. Preliminary estimates by … Continue reading →

Posted in Economics, Employment, New Jersey Real Estate | 94 Comments

“I really look forward to Republicans attacking me on restoring the SALT deduction for homeowners in my district”

Posted on November 18, 2021 by grim

From the Star Ledger: Biden bill to bring back property tax deduction for most N.J. homeowners Following President Joe Biden’s signature Monday on a $1 trillion bipartisan infrastructure bill, the House later this week is expected to turn its attention to … Continue reading →

Posted in Economics, Employment, New Jersey Real Estate, Property Taxes | 264 Comments

Does expungement create labor market flexibility and economic benefit?

Posted on November 15, 2021 by grim

I’ve got to imagine nearly a million people in this region essentially locked out of labor market flexibility, now being able to seek out new/better jobs, etc – will have a significant benefit on local market economics and poverty rate. … Continue reading →

Posted in Economics, New Jersey Real Estate | 88 Comments

NJ #3 in post-pandemic foreclosures

Posted on November 10, 2021 by grim

From the Philly Inquirer: Foreclosure starts tick up in Pennsylvania, N.J., and nationwide Three months after the end of a federal foreclosure moratorium intended to keep people in their homes during the pandemic, foreclosure activity continues to increase across the … Continue reading →

Posted in Economics, Foreclosures, New Jersey Real Estate | 362 Comments

Slow but strong

Posted on October 30, 2021 by grim

From NJ Business: NJ Home Sales Cool, Prices Remain Hot for Fall High prices and low inventory have continued to cool sales throughout New Jersey. While New Jersey saw a slight decline in closed sales the past few months, overall … Continue reading →

Posted in Demographics, Economics, New Jersey Real Estate | 139 Comments

Silk City is Hot

Posted on September 22, 2021 by grim

From the Record: Gentrification or growth? Why Paterson is hot for real estate buyers and investors Zaib Atyat purchased his first home in Paterson 20 years ago for $250,000. The three-family unit on the city’s south side offered a steady source … Continue reading →

Posted in New Development, New Jersey Real Estate | 125 Comments

Clear to close? Think again.

Posted on September 9, 2021 by grim

From Inman: Ida flooding could jeopardize 47,000 home sales in NY and NJ Devastating flash floods in New York and New Jersey in the aftermath of Hurricane Ida could delay or derail as many as 47,000 pending real estate transactions … Continue reading →

Posted in Mortgages, New Jersey Real Estate, Risky Lending | 197 Comments

Great time to be a landlord in NJ

Posted on August 27, 2021 by grim

From the Record: Tangled relationship: Renters stop paying amid pandemic, forcing small landlords into bind Elena Walczyk had a buyer lined up to purchase the mobile home in Cape May County that she and her husband had rented out for years. But … Continue reading →

Posted in New Jersey Real Estate, Politics, Property Taxes | 148 Comments

What now for NJ unemployed?

Posted on August 25, 2021 by grim

From the Star Ledger: Murphy won’t say if N.J. will extend pandemic unemployment benefits, affecting 500K residents With approximately 500,000 New Jerseyans set to lose pandemic unemployment benefits after the first week of September, Gov. Phil Murphy won’t say if … Continue reading →

Posted in Economics, Employment, New Jersey Real Estate | 218 Comments

Everything wrong with NJ, summed up.

Posted on August 18, 2021 by grim

From Jersey Digs: Orange City Council Ignores all Budget Cut Suggestions, Voting to Raise Property Taxes The Citizens Budget Advisory Committee (CBAC), a nine-member board comprised of local business professionals, opposed the 6.35 percent increase in the municipal budget, proposing … Continue reading →

Posted in New Jersey Real Estate, Politics, Property Taxes | 454 Comments

More bureaucracy? Why not!

Posted on August 9, 2021 by grim

From NJ Spotlight: Ongoing warehouse boom prompts renewed calls for broader regulation After new data showed New Jersey’s warehouse boom continues unabated, advocates renewed calls for state or regional control over where they can be built and for limits on … Continue reading →

Posted in New Development, New Jersey Real Estate | 218 Comments

56,000 Pending Eviction Cases

Posted on July 25, 2021 by grim

From the Star Ledger: As eviction moratorium nears end, N.J. to begin settlement conferences for renters, landlords The first mandatory settlement conferences in more than 56,000 pending landlord-tenant cases will begin next week, nearly a year-and-a-half since a statewide eviction moratoriumbegan … Continue reading →

Posted in Economics, New Jersey Real Estate | 157 Comments

Step away for a minute and the world goes to shit

Posted on March 15, 2020 by grim

Seems I picked a fine time to stop blogging. Markets in turmoil, global pandemic, potential real estate catastrophe looming. Couple of folks reached out to me over the past few days about opening the blog back up again. Totally get … Continue reading →

Posted in Economics, New Jersey Real Estate, Politics, Unrest | 227 Comments

End of the NJ HQ?

Posted on January 14, 2020 by grim

From the Star Ledger: N.J. could force employers to pay severance to laid-off workers Stirred by the plight of New Jersey Toys “R” Us workers who lost their jobs when the Wayne-based retailed filed for bankruptcy and shuttered stores across … Continue reading →

Posted in Economics, Employment, New Jersey Real Estate | 79 Comments

Business growing in NJ?

Posted on January 9, 2020 by grim

From GlobeSt: Northern NJ Office Market Showing Improvement Heading into 2020 The Northern New Jersey office market showed signs of stability and improvement at the end of 2019 positing positive net absorption, lower availability and higher asking rents, according to … Continue reading →

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