Smoke and Mirrors

“The recent activity of sales in markets which are affordable to first-time buyers, are being driven mainly by foreclosures and short sales.”

The REAL Unemployment Rate

 RE Report
The real unemployment rate released on July 2nd by the Bureau of Labor Statistics is now 16.5%, a full 7 points higher than the officially reported rate.
 The June numbers from the Bureau of Labor Statistics, using the bureau’s expanded “U-6″ rate, show an amazing 16.5% rate of unemployment, not the 9.5% that was being reported.
The real rate includes [...]

The ‘SPIN’ from the NAR continues…

RE Report
The National Association of Realtors released Pending Home Sales data today and their findings reveal a One Tenth of One Percent supposed increase. One tenth!
Now mind you, that in any data set, a standard/typical margin of error is + or – 1% to 2%. So the One Tenth is negligible. 0% and may even [...]

Geographic-Market Study: Route 22/Green Brook, NJ

Of the 107 total properties along Route 22 in Green Brook, there are 24 vacant units. Of those 24 vacancies, 19 are advertised for rent, 2 listed for sale, and 3 are abandoned.

More Abysmal News for NJ’s Economy

RE Report/Analysis
Update I
In long line of New Jersey businesses that have gone liquid or bankrupt, there are now 30 more you can add to the dole.
Here is the list of the 30 franchises that was delivered to the unfortunate New Jersey Chrysler/Jeep Dealers.
Certainly this is not good news for each town and city these dealerships are located [...]

Abating or Intesifying

The first quarter survey by the National Association for Business Economics indicates that the economy is at an inflection point, but not quite a turning point, said NABE lead analyst Sara Johnson.
The U.S. economy is still in decline but results from the Q1 economic survey show evidence the recession may be abating
“Key indicators – industry demand, employment, capital spending, and [...]

Enough Said

Commentary
Ben Bernanke’s comments today were so off the charts and just absolutely ridiculous. Clearly revealing that he is but another paid sock-puppet within this left-wing, hidden agenda administration.
We don’t know who it is, but someone has their fist so far up Bernanke’s ass- it’s apparently causing him to spout the rhetorical nonsense of babbling lab monkeys.
Speaking of asses; [...]

Highest Cost of Living Cities- Unemployment to Income Ratio

RE Report
Here is the latest Cost of Living report from the Council for Community and Economic Research.
The following are the top 5 cities where the cost of living is the highest. The respective  unemployment rates for February and most current median income data were utilized in the analysis.
1. Providence, R.I.
(Providence-Fall River-Warwick, R.I.-Mass., metro area)
Population: 1.6 million
Cost of [...]

Garden State- Withering

 RE Report
According to RealtyTrac residential foreclosures in New Jersey jumped 1.96% during the first quarter of 2009, y-o-y and rose a colossal 40% from February 2009.
 
Q1 official auctions in NJ included 2,293 residential properties as Essex County lead the way with 296. Passaic followed with 217,  as well as Ocean- 217 and Union with 215. These were the top four counties [...]

The UN-avoidable, New Jersey Un-employment Report

 RE Report
Though it was a diminutive increase, the most tax burdened, liberal state in the union saw its unemployment rate go up yet again, from 8.2% to 8.3%. Reaction from the left-wing corzine administration was of course low-key.
In fact a spokesmen from the socialist administration went as far as saying that that number only represents [...]