Category Archives: Politics

NJ to Banks: Clean em’ up

Posted on August 19, 2014 by grim

From the Courier Post: Christie signs bill allowing towns to crack down on problem properties Gov. Chris Christie has signed into law a measure empowering towns and cities to fine banks or creditors that fail to properly maintain vacant properties … Continue reading →

Posted in Foreclosures, New Jersey Real Estate, Politics | 101 Comments

An economic analysis to start off your weekend

Posted on July 25, 2014 by grim

From NJ Spotlight: ANALYSIS: NEW JERSEY’S ECONOMIC WOES GO FAR BEYOND CASINO CLOSINGS While the United States is in the middle of a solid economic expansion that has restored all of the jobs lost during the Great Recession, New Jersey … Continue reading →

Posted in Demographics, Economics, Employment, New Jersey Real Estate, Politics | 125 Comments

Screw you FHA

Posted on July 22, 2014 by grim

From Housingwire: JPMorgan’s Dimon threatens to quit FHA loans JPMorgan Chase’s (JPM) CEO says his bank is considering getting out of the FHA mortgage origination business altogether. Notably, with the second quarter’s 66% year-over-year plunge in originations reported last week, … Continue reading →

Posted in Mortgages, Politics, Risky Lending | 124 Comments

Steindel gets the axe

Posted on July 19, 2014 by grim

From NJBIZ: Report: Amid overly optimistic revenue projections, Christie’s chief economist resigns Charles Steindel, chief economist of the New Jersey Department of Treasury, has resigned from his post to pursue a college teaching position, according to a report this morning … Continue reading →

Posted in Economics, New Jersey Real Estate, Politics | 68 Comments

Foreclosures nearly back to normal, but not everywhere.

Posted on July 17, 2014 by grim

From CNBC: Foreclosure activity hits lowest level in eight years Foreclosure activity has been falling steadily for the past few years as the housing market recovers, but the latest reading shows it has hit a new milestone. According to RealtyTrac, … Continue reading →

Posted in Demographics, Economics, Foreclosures, Politics | 60 Comments

A million dollars a job subsidy, nothing to see here, move on.

Posted on July 11, 2014 by grim

From the Star Ledger: N.J. gives $260 million tax break to energy company with political ties New Jersey officials today approved a $260 million package of tax credits — the third-largest economic subsidy in state history — for a nuclear-energy … Continue reading →

Posted in Demographics, Economics, Politics | 119 Comments

Still no end to the housing bailouts

Posted on June 30, 2014 by grim

From HousingWire: Obama administration reveals plan to jump-start housing Speaking Thursday at the Making Home Affordable five-year anniversary summit, U.S. Treasury Secretary Jacob Lew announced several initiatives designed to spur the flailing housing market. Lew identified three specific issues that … Continue reading →

Posted in Economics, Housing Recovery, Politics | 57 Comments

Job growth or corporate welfare?

Posted on June 12, 2014 by grim

From the NYT: A Tug-of-War of Tax Breaks Tightens Across the Hudson Late last fall, bankers from BNY Mellon went to state officials in New York and New Jersey with a proposition: The bank was planning to sell its headquarters … Continue reading →

Posted in Economics, Employment, Politics | 90 Comments

HARP falls short of hitting goals

Posted on May 29, 2014 by grim

From HousingWire: Did HARP fail 8 million homeowners? According to the Federal Housing Finance Agency, the volume of mortgage refinance under the Home Affordable Refinance Program is continuing to decline. And in an environment of rising mortgage rates, this is … Continue reading →

Posted in Foreclosures, Housing Recovery, Mortgages, Politics | 188 Comments

Surprise! GSEs to stick around, and lend more.

Posted on May 21, 2014 by grim

From MarketWatch: Fannie, and Freddie aren’t going away, Watt says One of the country’s biggest political footballs, housing finance reform, took some funny bounces over the past week. Most notable were the first public appearances by the government’s new point … Continue reading →

Posted in Economics, Housing Recovery, Mortgages, National Real Estate, Politics | 92 Comments

You spin me right round baby

Posted on April 28, 2014 by grim

From the Record: Analysis: N.J. job stats in the best light Employment statistics are a telling barometer of the health of the economy, and even small changes are scrutinized. Monthly announcements, from Washington and each state, report the two key … Continue reading →

Posted in Economics, Politics | 73 Comments

Realty Transfer Tax to be eliminated? Yeah right.

Posted on April 17, 2014 by grim

From the Star Ledger: In response to Christie, Republican senator plans to introduce bill to end NJ’s realty transfer fees One day after Gov. Chris Christie said he would abolish reality transfer fees in New Jersey if given the chance, … Continue reading →

Posted in New Jersey Real Estate, Politics, Property Taxes | 90 Comments

NJ’s concerted effort to freeze the foreclosure pipeline continues

Posted on March 17, 2014 by grim

From the Star Ledger: Bill to help NJ families avoid foreclosures advances Legislation that would create a fund to help low and moderate income families afford foreclosure prevention services was passed out of committee Thursday and can now be voted … Continue reading →

Posted in Foreclosures, New Jersey Real Estate, Politics | 72 Comments

Bye bye Freddie and Fannie?

Posted on March 12, 2014 by grim

From Bloomberg: U.S. Wind-Down Bill Clips Fannie Mae, Freddie Mac Shares Leaders of the U.S. Senate Banking Committee announced long-awaited plans to dismantle Fannie Mae and Freddie Mac, pushing the companies’ common shares to their biggest intraday drop in 10 … Continue reading →

Posted in Economics, Housing Recovery, Mortgages, Politics | 156 Comments

Out of sight, out of mind

Posted on March 3, 2014 by grim

From the Star Ledger: Chris Christie signs order to speed razing of Sandy-damaged homes Calling Hurricane Sandy-damaged homes that have not yet been torn down an “ongoing emergency,” Gov. Chris Christie signed an executive order aimed at speeding up the … Continue reading →

Posted in New Jersey Real Estate, Politics | 63 Comments