Category Archives: Politics

Casino!

Posted on June 4, 2016 by grim

From the WSJ: Debate Heats Up Over Gambling for Northern New Jersey After a bitter battle over a proposed state takeover of Atlantic City, supporters of a gambling expansion are ramping up efforts to convince voters to allow two new … Continue reading →

Posted in New Development, New Jersey Real Estate, Politics | 11 Comments

A billion dollars in the hole

Posted on May 18, 2016 by grim

From the Record: N.J. facing possible $1.1B budget gap over 2016, 2017, official says New Jersey’s state budget could face a revenue shortage of $1.1 billion over two fiscal years, the state Legislature’s nonpartisan budget office said Tuesday, a dire … Continue reading →

Posted in New Jersey Real Estate, Politics | 76 Comments

NJ’s shell game taxes

Posted on April 19, 2016 by grim

From the APP: Prieto: No estate tax deal without gas tax increase Assembly Speaker Vincent Prieto said he won’t move forward with any plans to eliminate New Jersey’s estate tax without a broader deal to increase the state’s gasoline tax. … Continue reading →

Posted in New Jersey Real Estate, Politics | 128 Comments

Freddie and Fannie to reduce principal

Posted on April 15, 2016 by grim

From HousingWire: FHFA makes it official: Principal reduction is coming A day that many in the housing industry thought would never come is finally and actually here, as the Federal Housing Finance Agency is making official what was first reported … Continue reading →

Posted in Foreclosures, Mortgages, Politics, Risky Lending | 116 Comments

More settlements … no guilt … no prosecution

Posted on April 12, 2016 by grim

From the Star Ledger: Goldman Sachs to pay $5 billion for its role in housing bubble Goldman Sachs has agreed to pay more than $5 billion to settle charges it sold mortgages it knew were likely to fail during the … Continue reading →

Posted in Mortgages, Politics, Risky Lending, Unrest | 69 Comments

Note to NJ – Stop making promises you can’t afford

Posted on March 23, 2016 by grim

From the Record: Standard & Poor’s revises N.J.’s credit outlook to ‘negative’ New Jersey’s finances are still a mess, Standard & Poor’s said Tuesday, and the state’s weak credit outlook will not improve until officials make lasting reforms. The Wall … Continue reading →

Posted in Economics, New Jersey Real Estate, Politics | 80 Comments

Oh boy…

Posted on March 19, 2016 by grim

From News 12: Toms River ordinance bans aggressive real estate solicitation Door-to-door real estate solicitation is now forbidden in areas of Toms River. The “cease and desist” ordinance went into effect Friday. The ordinance comes after many complaints by Toms … Continue reading →

Posted in New Jersey Real Estate, Politics, Unrest | 59 Comments

NJ’s Wealthiest Resident Leaves for Florida

Posted on March 17, 2016 by grim

From Bloomberg: Tepper’s Most Profitable 2015 Trade May Be Moving to Miami New Jersey lost its richest resident late last year when billionaire David Tepper decamped to the tax friendly climes of Florida. Tepper registered to vote in Florida last … Continue reading →

Posted in Economics, New Jersey Real Estate, Politics, Property Taxes | 96 Comments

In 5 years, remember this one

Posted on March 14, 2016 by grim

From the NY Post (Hat tip Chi): Obama is setting us up for another housing crash We learned nothing from the last financial crisis. The housing market is set to collapse, again, and a key culprit, again, is artificial demand … Continue reading →

Posted in Economics, Mortgages, National Real Estate, Politics, Risky Lending | 95 Comments

What cap?

Posted on March 13, 2016 by grim

From the Record: Property tax cap growing weaker across North Jersey; more towns than ever exceed 2% limit Reforms enacted in 2011 to keep the nation’s highest property taxes in check are showing signs of weakening as a growing number … Continue reading →

Posted in New Jersey Real Estate, Politics, Property Taxes, Unrest | 7 Comments

LA cracks down on tiny houses illegal housing

Posted on March 5, 2016 by grim

From NPR: LA Officials Bring The Hammer Down On Tiny Houses For Homeless Elvis Summers is not part of any nonprofit or government agency. He’s just a 38-year-old guy with a Mohawk and tattooed arms who started a GoFundMe campaign … Continue reading →

Posted in Economics, Politics, Unrest | 41 Comments

NJ eliminating a tax? Impossible

Posted on March 1, 2016 by grim

From the APP: No more NJ estate tax? Bill passes first hurdle A state Senate committee Monday approved a bill that would phase out New Jersey’s estate tax over five years. The vote by the Senate Budget and Appropriations Committee … Continue reading →

Posted in New Jersey Real Estate, Politics | 99 Comments

Christie’s property tax cap worked

Posted on February 21, 2016 by grim

From the Star Ledger: Are N.J. property taxes actually going down in many towns? Are many New Jersey residents actually paying less in property taxes than they were five years ago? The state’s sky-high property taxes crossed the $8,300 threshold … Continue reading →

Posted in New Jersey Real Estate, Politics, Property Taxes | 37 Comments

Clinton brings housing into the debate

Posted on February 17, 2016 by grim

From HousingWire: Hillary Clinton unveils sweeping economic agenda, including major housing reforms With the 2016 presidential election inching closer at a seemingly glacial pace, one issue that many of the main candidates have neglected to address is housing and its … Continue reading →

Posted in Housing Recovery, Politics | 95 Comments

Valentines Day Massacre

Posted on February 16, 2016 by grim

From the Star Ledger: Here’s what happened to those 100 lots Newark gave away last Valentine’s Day This time last year, John Errico and Shannon Guy took what they believed would be the first step toward their shared dream. Newly … Continue reading →

Posted in Housing Recovery, New Development, New Jersey Real Estate, Politics | 91 Comments