Category Archives: Politics

Merry Christmas, Bend Over.

Posted on December 24, 2012 by grim

From the APP: Sandy’s gift for 2013: Tax hikes During the first two years of Matthew Doherty’s term as the mayor of Belmar, unwelcome outcomes came up zeroes: no layoffs, no gimmicks and, most important, no tax increases. But with … Continue reading →

Posted in Economics, New Jersey Real Estate, Politics, Property Taxes | 47 Comments

Jersey’s relief package up for debate

Posted on December 18, 2012 by grim

From the Record: Republicans cite “questionable” spending as Senate begins debate on $60B Sandy relief package The debate over a $60.4 billion federal Sandy relief package began in earnest on Monday with Senate Republican leaders arguing that the bill includes … Continue reading →

Posted in Economics, New Development, Politics, Shore Real Estate | 92 Comments

Taxes on debt forgiveness impact loan mods too (expect it to be extended)

Posted on December 7, 2012 by grim

From CNBC: Housing Recovery Depends on Slashing Mortgage Debt Rising home prices are the foundation of today’s housing recovery. They are drawing much-needed buyers back to the market. Prices would not be rising if the number of foreclosures wasn’t falling. … Continue reading →

Posted in Economics, Employment, Housing Recovery, Politics | 70 Comments

Inquirer takes a slam at South Jersey (for good reason)

Posted on October 22, 2012 by grim

From the Philly Inquirer: N.J.’s local tax bills keep spiraling upward Ted Marvel pays $4,900 in annual property taxes on his 1,000-square-foot home in the heart of Collingswood. In fact, his monthly tax bill – $407 – is starting to … Continue reading →

Posted in Comp Killer, Politics, Property Taxes, South Jersey Real Estate | 91 Comments

NJ unemployment ticks down to 9.8

Posted on October 18, 2012 by grim

From the Star Ledger: N.J. unemployment rate falls to 9.8 percent New Jersey’s unemployment dropped a tick in September, going from 9.9 percent to 9.8 percent, according to figures released this morning by the state Labor Department. The slight drop … Continue reading →

Posted in Economics, New Jersey Real Estate, Politics | 88 Comments

More than a million short sales

Posted on October 16, 2012 by grim

From Mortgage News Daily: HOPE NOW: Short Sales Top 1 Million HOPE NOW, the voluntary, private sector alliance of mortgage servicers, investors, mortgage insurers and non-profit counselors, reported that its participants completed an estimated 75,968 permanent loan modifications during August. … Continue reading →

Posted in Foreclosures, Mortgages, Politics | 147 Comments

Government jobs to blame for the 9.9% unemployment rate?

Posted on October 4, 2012 by grim

From Bloomberg: N.J.’s Vanished Public Jobs Impede Economic Recovery, Study Says New Jersey’s economic recovery is hindered by the elimination of 61,200 local and state government jobs and Republican Governor Chris Christie’s spending cuts, according to a report issued today. … Continue reading →

Posted in Economics, New Jersey Real Estate, Politics | 141 Comments

Obama: Congress standing in the way of the housing recovery

Posted on October 1, 2012 by grim

From the Hill: Obama calls on Congress to pass refinancing bill President Obama urged Congress on Saturday to pass a refinancing bill to provide a boost to the gradually recovering housing market. In his weekly address, the president argued that … Continue reading →

Posted in Economics, Housing Recovery, Politics | 167 Comments

Are we expecting too much, too soon?

Posted on September 24, 2012 by grim

From the NY Post: Jersey’s hangover Earlier this year, Gov. Chris Christie declared that New Jersey’s comeback had begun. Since then, the state’s unemployment rate has risen and tax collections have slowed. Last week, Standard & Poor’s revised its outlook … Continue reading →

Posted in Economics, New Jersey Real Estate, Politics | 97 Comments

Romney housing plan still short of specifics

Posted on September 23, 2012 by grim

From the Huffington Post: Mitt Romney Housing Plan Short On Details (Again) If elected president, Mitt Romney would reform Fannie Mae and Freddie Mac, sell 200,000 vacant foreclosed homes owned by the government and promote “sensible, not overly complex” financial … Continue reading →

Posted in Economics, Housing Recovery, Politics | 47 Comments

White House shows support for HARP 3

Posted on September 15, 2012 by grim

From the White House Blog: Infographic: The Plan to Help Homeowners Refinance Congress is currently considering a plan that would help millions of responsible homeowners save hundreds of dollars each month by refinancing their mortgages. The plan to expand access … Continue reading →

Posted in Housing Recovery, Mortgages, Politics | 120 Comments

Dems seek HARP expansion

Posted on September 11, 2012 by grim

From HousingWire: Senators bargain on HARP expansion Senate Democrats reintroduced a bill to expand refinancing for an estimated 13.5 million Fannie Mae and Freddie Mac mortgage borrowers. Sens. Robert Menendez, D-N.J., and Barbara Boxer, D-Calif., will keep the origination cut-off … Continue reading →

Posted in Foreclosures, Mortgages, Politics, Risky Lending | 99 Comments

Just when you thought the bailouts were over

Posted on August 21, 2012 by grim

From HousingWire: Obama to renew push for wider mortgage refinance plan The Obama administration will renew efforts to pass a wider refinance plan for more underwater homeowners when Congress reconvenes in September. “The housing market is beginning to pick back … Continue reading →

Posted in Economics, Housing Recovery, Mortgages, Politics | 119 Comments

Bye bye tax cut

Posted on August 20, 2012 by grim

From Bloomberg: N.J. Revenue May Be $540 Million Off Target, Analyst Says New Jersey’s revenue collections were as much as $540 million less than targeted by Governor Chris Christie through the fiscal year ended June 30, according to a memo … Continue reading →

Posted in Economics, New Jersey Real Estate, Politics, Property Taxes | 118 Comments

Legislators trying to grease the foreclosure machine

Posted on August 13, 2012 by grim

From the Star Ledger: Foreclosure bills advance from N.J. Senate Economic Growth Committee A pair of bills sponsored by Senate Economic Growth Committee Chairman Raymond J. Lesniak which would begin to address New Jersey’s foreclosure crisis by creating an expedited … Continue reading →

Posted in Foreclosures, New Jersey Real Estate, Politics | 114 Comments