Category Archives: New Jersey Real Estate

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

You should be happy to pay NJ taxes

Posted on February 23, 2023 by grim

From Patch: NJ Has Nation’s Highest Property Taxes, By A Long Shot: Report Life in New Jersey tends to guarantee two things: death and high property taxes. The Garden State pays the nation’s highest rate on property taxes by a … Continue reading →

Posted in New Jersey Real Estate, Politics, Property Taxes | 98 Comments

Who needs to buy?

Posted on February 10, 2023 by grim

From NJ1015: Here’s where millionaires choose to rent in New Jersey There are over 100 millionaires that rent in one city in New Jersey. If you’ve been paying any attention at all to real estate and building trends in this … Continue reading →

Posted in Demographics, Economics, Employment, New Jersey Real Estate, NYC | 96 Comments

Sorry buyers…

Posted on February 8, 2023 by grim

From Bloomberg: Buyers Are Flocking to NYC’s Suburbs. Too Bad There Aren’t Many Homes to Sell. In the midst of the worst US housing slump in a decade, a wave of finance and tech layoffs and drumbeats of a potential recession, … Continue reading →

Posted in Demographics, Economics, Employment, New Jersey Real Estate, NYC | 103 Comments

Sounds like more of the usual

Posted on January 28, 2023 by grim

From NJ Business: Year-end NJ Housing Data Shows Market Softening Rising interest rates, low inventory, and climbing prices have cooled the housing market in 2022, with closed sales down 17.8% over 2021, according to year-end data reports from New Jersey … Continue reading →

Posted in Economics, Housing Bubble, Mortgages, New Jersey Real Estate | 59 Comments

Hybrid NJ

Posted on January 14, 2023 by grim

From NorthJersey.com: ‘Working remotely is here to stay’: NJ considering new tax break for hybrid offices New Jersey officials say they’re contemplating a new tax break designed to lure companies interested in having their staff work from home rather than in the … Continue reading →

Posted in Economics, Employment, New Jersey Real Estate, Property Taxes | 57 Comments

NJ beats the US Avg.

Posted on January 5, 2023 by grim

From the Philly Fed: State Coincident Indexes – November 2022 The Federal Reserve Bank of Philadelphia has released the coincident indexes for the 50 states for November 2022. Over the past three months, the indexes increased in 35 states, decreased … Continue reading →

Posted in Economics, Employment, New Jersey Real Estate | 164 Comments

Enough slacking, get back to work

Posted on December 26, 2022 by grim

From NJ1015: Looking for work? New Jersey is the 4th best state to get a job There are so many people out of work across the country, it’s good to know that you can get a job in New Jersey … Continue reading →

Posted in Economics, Employment, New Jersey Real Estate | 11 Comments

$14.13

Posted on December 14, 2022 by grim

From the Daily Princetonian: New Jersey’s minimum wage to increase to $14.13/hour As of Jan. 1, the statewide minimum wage in New Jersey will increase to $14.13 per hour, according to the New Jersey Department of Labor & Workforce Development. This change … Continue reading →

Posted in Economics, Employment, New Jersey Real Estate | 87 Comments

Too damn high

Posted on December 8, 2022 by grim

From Bloomberg: Manhattan renters face sticker shock with average rent at $5,200 Manhattan rents rose 2% in November, dashing hopes that prices would cool and forcing many renters to give up their leases or downsize, according to brokers. The median … Continue reading →

Posted in New Jersey Real Estate, NYC | 22 Comments

Nobody positive about NJ housing

Posted on November 7, 2022 by grim

From NJ1015: As interest rates rise, the NJ real estate market’s new twist Interest rates have already been raised several times this year by the Federal Reserve but what’s expected to be another big hike on Wednesday will push the … Continue reading →

Posted in Economics, Mortgages, New Jersey Real Estate | 51 Comments

Why the delta?

Posted on October 28, 2022 by grim

From Slate: The Reason Home Prices Are Finally Dropping National averages mask significant variation at the metropolitan level. Every one of California’s major cities—including Los Angeles, San Diego, and the Bay Area, some of the most expensive real estate markets … Continue reading →

Posted in Housing Bubble, National Real Estate, New Jersey Real Estate, NYC | 83 Comments

Recession Hits Jersey

Posted on October 22, 2022 by grim

From ROINJ: N.J. unemployment falls to 3.3%; job growth slows in September On Thursday, the U.S. Bureau of Labor Statistics announced total nonfarm wage and salary employment in New Jersey increased by 3,800 in September, reaching a seasonally adjusted level of 4,239,600. … Continue reading →

Posted in Economics, Employment, New Jersey Real Estate | 39 Comments

Casino in the Swamp

Posted on October 17, 2022 by grim

From Forbes: How New Jersey Will Double Down On Gambling If Casinos Come To New York City If the handful of billionaires, real estate developers and gambling companies get their way and bring a Las Vegas-style casino resort to New York … Continue reading →

Posted in New Jersey Real Estate, NYC, Politics | 111 Comments