Category Archives: Politics

Calls to scrap failed HAMP program grow louder

Posted on January 27, 2011 by grim

From USA Today: Inspector general: Mortgage modification program a ‘failure’ A mortgage modification program aimed at saving homeowners from foreclosure has failed because regulators are “afraid to rein in or impose penalties on the mortgage servicers” whose record “has been … Continue reading →

Posted in Foreclosures, National Real Estate, Politics, Risky Lending | 161 Comments

Property tax rebates coming back, but can we afford them?

Posted on January 25, 2011 by grim

From the Star Ledger: Gov. Christie says he will restore N.J. property tax rebates Gov. Chris Christie said today he will restore property tax rebates that were eliminated in the budget last year. “We’re going to reinstitute the rebate this … Continue reading →

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

This won’t end well

Posted on January 22, 2011 by grim

From the NY Times: Banks Want Pieces of Fannie-Freddie Pie As the Obama administration prepares a report on the future of Fannie Mae and Freddie Mac, some of the nation’s largest banks are offering a few suggestions. Wells Fargo and … Continue reading →

Posted in Mortgages, National Real Estate, Politics | 80 Comments

Settlement in the works for NJ robosigners

Posted on January 19, 2011 by grim

From the NY Post: NJ judge OKs talks for ‘robo-sign’ banks The nation’s six largest mortgage lenders — chastised by a New Jersey judge last month for shoddy foreclosure practices and threatened with the freezing of thousands of foreclosure actions … Continue reading →

Posted in Mortgages, New Jersey Real Estate, Politics | 153 Comments

Two and a half thousand billion? Oh bother.

Posted on January 18, 2011 by grim

From Financial Times: States Warned of $2 Trillion Pensions Shortfall US public pensions face a shortfall of $2,500 billion that will force state and local governments to sell assets and make deep cuts to services, according to the former chairman … Continue reading →

Posted in Economics, National Real Estate, Politics | 117 Comments

Unemployment too generous?

Posted on January 17, 2011 by grim

From the Daily Record: Some think NJ’s unemployment program is too generous Speaking as a panelist before the state’s biggest business lobby last month, Assembly Republican Leader Alex DeCroce must have thought his opinion that the state’s unemployment benefits were … Continue reading →

Posted in Economics, Politics | 136 Comments

Time to fix Farmland Assessment

Posted on December 10, 2010 by grim

From the Courier Post: ‘Fake farmers’ avoid paying $82M in taxes Spotty enforcement and an outdated state law allow thousands of landowners to pay pennies on the dollar in property taxes. The Farmland Assessment Act of 1964, intended to preserve … Continue reading →

Posted in New Jersey Real Estate, Politics, Property Taxes | 250 Comments

NJ’s “new normal” an unwelcome reality

Posted on August 3, 2010 by grim

From Bloomberg: NJ Assembly panel to discuss possible shortfall Just weeks after New Jersey’s current budget went into effect, a dispute is simmering over projections of a possible $10.5 billion shortfall when officials start compiling next year’s spending plan. The … Continue reading →

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

Las Vegas East? When is the razing scheduled for, Governor?

Posted on July 22, 2010 by grim

From the Star Ledger: Gov. Christie pledges to turn Atlantic City casino district into ‘Las Vegas East’ With more flair than a traveling road act, Gov. Chris Christie stood on the 50-yard line of the New Meadowlands Stadium today and … Continue reading →

Posted in New Development, Politics, Shore Real Estate | 121 Comments

Looking down the barrel

Posted on July 20, 2010 by grim

From the Star Ledger: N.J. faces $10.5B budget deficit heading into next year New Jersey faces a $10.5 billion budget deficit heading into next year — nearly the same size as the gap that opened up before this year’s spending … Continue reading →

Posted in New Jersey Real Estate, Politics, Property Taxes | 182 Comments

CAP 2.0%! (But will it help?)

Posted on July 13, 2010 by grim

From Bloomberg: Christie Signs 2% Cap on New Jersey Property Taxes New Jersey Governor Chris Christie, whose state has the highest property taxes in the U.S., signed legislation capping annual increases in the levies at 2 percent. The measure reduces … Continue reading →

Posted in New Jersey Real Estate, Politics, Property Taxes | 168 Comments

Let it sink into the swamp

Posted on July 9, 2010 by grim

From the Record: Xanadu may get $180M from state Meadowlands Xanadu developers, after more than a year of looking for new investors, may soon add an important new partner: you, the state taxpayer. Three sources familiar with a proposal under … Continue reading →

Posted in New Development, New Jersey Real Estate, Politics | 214 Comments

Lower cap looks likely, but will it be 2.9% or 2.5%?

Posted on June 21, 2010 by grim

From New Jersey Newsroom: Sweeney to propose 2.9 percent cap on N.J. property tax hikes Contending a cap on property tax hikes needs “realistic numbers,‘’ Senate President Stephen M. Sweeney (D-Gloucester) Monday will introduce a proposal to set a cap … Continue reading →

Posted in New Jersey Real Estate, Politics, Property Taxes | 193 Comments

NJ Sales Plunge – Realtors Beg For Bailout

Posted on June 19, 2010 by grim

From the NY Times: Reviving a Housing Market in a Swoon ACCORDING to the early evidence, the New Jersey residential market went a bit weak in the knees in May — or even swooned — after the federal home buyer … Continue reading →

Posted in Economics, New Jersey Real Estate, Politics | 224 Comments

Will consolidation ever happen?

Posted on June 16, 2010 by grim

From the Star Ledger: Gov. Christie says property tax cap could force N.J. town, school district mergers New Jersey’s notorious but beloved patchwork of towns and school districts could be transformed under a new limit on annual property tax increases, … Continue reading →

Posted in New Jersey Real Estate, Politics, Property Taxes | 283 Comments