Category Archives: Politics

We’re all Atlantic City now

Posted on January 12, 2016 by grim

From the Record: State officials working to take control of Atlantic City finances Amid the push to expand casino gambling throughout New Jersey, state officials are in fast-moving discussions to take over Atlantic City’s finances for 15 years. Sparking a … Continue reading →

Posted in New Development, Politics, Shore Real Estate | 124 Comments

“He said a lot of bad things and he walked away.” (He called AC pols “corrupt and stupid”)

Posted on January 8, 2016 by grim

From the Star Ledger: Is gambling mogul Steve Wynn interested in north Jersey casino? The leader of the state Assembly said Thursday that Steve Wynn, the famed casino mogul who owned one of the first gambling halls in Atlantic City … Continue reading →

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

Something’s fishy about the New Home Sales numbers

Posted on December 24, 2015 by grim

Housingwire cites Zerohedge? I like it. Is there more trouble hidden in November’s new home sales data? But a deeper dive into the new home sales data shows that November’s increase over October isn’t quite as promising as it appears. … Continue reading →

Posted in Economics, National Real Estate, Politics | 38 Comments

Just let Atlantic City fall into the sea

Posted on December 21, 2015 by grim

From the Record: Legislators advance competing measures to put approval of North Jersey casinos on ballot State Senate and Assembly committees each passed resolutions on Thursday designed to have voters statewide determine next fall whether to amend the state constitution … Continue reading →

Posted in New Development, North Jersey Real Estate, Politics | 78 Comments

Not the lenders responsibility, except in NJ…

Posted on December 18, 2015 by grim

Again, NJ legislators lack awareness of their own unintended consequences. From the Star Ledger: 3-year foreclosure ban for Sandy victims headed to Christie’s desk A bill aimed at keeping thousands of Hurricane Sandy victims from entering into foreclosure for three … Continue reading →

Posted in Foreclosures, Mortgages, Politics, Shore Real Estate | 81 Comments

Of course the short-sale tax forgiveness will pass…

Posted on December 14, 2015 by grim

From the WSJ: Tax Break for Home Short Sellers at Risk Last-minute negotiations in Washington have left real-estate agents and sellers nervous about the possibility that distressed homeowners could receive an unwelcome tax hit. Congress has yet to reach an … Continue reading →

Posted in Foreclosures, National Real Estate, Politics | 59 Comments

NJ floats bill to tax non-profit hospitals

Posted on December 8, 2015 by grim

From the Record: Proposed N.J. bill would mandate that some hospitals make payments to host communities Non-profit acute-care hospitals that have money-making facilities would start making payments to offset the cost of services provided by host municipalities, according to a … Continue reading →

Posted in New Jersey Real Estate, Politics, Property Taxes | 73 Comments

State ready to force reassessment of properties

Posted on November 25, 2015 by grim

From the Star Ledger: State blasts tax boards, may force N.J. towns to reassess properties Three New Jersey municipalities in Union, Hudson and Middlesex counties are under investigation by the state for stalling property reassessments for decades and could be … Continue reading →

Posted in New Jersey Real Estate, Politics, Property Taxes | 125 Comments

If high taxes mean no jobs, why has NY recovered?

Posted on November 20, 2015 by grim

From the Star Ledger: N.J. has worst business tax climate in U.S., study finds New Jersey’s high property and income taxes contribute to its standing as the nation’s least attractive tax climate for businesses, according to a Washington tax policy … Continue reading →

Posted in Housing Recovery, Politics, Property Taxes | 97 Comments

NJ Tax Machine Rolls On

Posted on November 19, 2015 by grim

From the APP: Property tax relief? Not in sight in NJ (Warning annoying autoplay video) Tax relief doesn’t appear to be on the way anytime soon for New Jersey residents — in fact, top state lawmakers meeting here Wednesday spent … Continue reading →

Posted in New Jersey Real Estate, Politics, Property Taxes | 139 Comments

Christie wants to raise taxes on NJ

Posted on November 11, 2015 by grim

From the Star Ledger: Christie’s new tax plan would cost 40% of N.J. taxpayers an average $16,682 deduction Gov. Chris Christie wants to do away with a tax break that his state’s residents use more than almost anyone else. During … Continue reading →

Posted in New Jersey Real Estate, Politics | 118 Comments

GSEs failing again?

Posted on November 6, 2015 by grim

From HousingWire: Compass Point: Fannie Mae, Freddie Mac will need another bailout The disappointing third quarter results for Fannie Mae, which saw its net income cut in half, and Freddie Mac, which took a comprehensive loss of $501 million, have … Continue reading →

Posted in Economics, Foreclosures, Mortgages, Politics | 108 Comments

Bend Over NJ

Posted on November 3, 2015 by grim

From the Star Ledger: N.J. taxes second-worst in U.S., Forbes says New Jerseyans already know it to be true, but a Forbes analysis of state-by-state tax burdens places the Garden State near the top of its “Worst States for Taxes” … Continue reading →

Posted in New Jersey Real Estate, Politics, Property Taxes | 93 Comments

Weekend Legal Discussion – Hospitals should pay property taxes

Posted on October 24, 2015 by grim

For the lawyers, from Lexology: Pretty sure that hospitals and doctors don’t need to have subsidized property taxes. New Jersey Tax Court decision may signal a troubling trend in challenges to non-profit entitie The New Jersey Tax Court’s decision in … Continue reading →

Posted in New Jersey Real Estate, Politics, Property Taxes | 39 Comments

GSE Reform Dead

Posted on October 21, 2015 by grim

From HousingWire: GSE leadership no longer expecting reform The government-sponsored enterprises are getting back to their core mission, shaking the idea that a resolution to conservatorship is just around the corner and reshaping their business models to reduce risk to … Continue reading →

Posted in Economics, Housing Recovery, Politics, Risky Lending | 84 Comments