The Real Deal New York

Posts Tagged ‘jed kolko’

  • trulia-rent

    (Credit: Trulia)

    New York City ranks last on a list of U.S. cities with the largest average rental discounts for couples, according to a report from Trulia.

    Trulia used rental listings to determine the cost tradeoff of a couple sharing an apartment rather than living in separate one-bedrooms. Chief economist Jed Kolko’s study compared units in the same apartment building and calculated the average price difference by the number of bedrooms for units in a particular building. [more]

  • Prices are easing downward as the chokehold on inventory across the U.S. loosens.

    The distressed properties that investors snapped up in bulk during the economic downturn are finally coming to market along with new home projects — indicating spring will be a strong selling season. [more]

  • The inventory crunch

    The inventory crunch

    Despite the vacancy rate holding steady from last year, the inventory crunch keeps getting worse, according to a new report from real estate listings site Trulia.

    The nationwide vacancy rate was 10.2 percent in the third quarter of 2013, the same as last year. The figure includes both rental and sales units, as well as those that are vacant but not on the market. But still, homebuyers are having an increasingly hard time finding homes. [more]

  • Shutdown yet to hit home prices: Trulia

    October 17, 2013 11:59AM
    Jed Kolko

    Jed Kolko

    The federal shutdown hasn’t yet hurt home prices, according to the latest data from real estate firm Trulia. Nationally, residential asking prices are up one percent between September and the first half of October, seasonally adjusted, the Trulia data show. This slight increase is in line with the increases seen in recent months, according to Trulia’s chief economist Jed Kolko. [more]

  • From left: Ben Bernanke and Jed Kolko

    From left: Ben Bernanke and Jed Kolko

    Ben Bernanke’s surprise decision to extend the Federal Reserve’s support for the mortgage market provides a further boost for homebuyers in New York City, where buying a home is still 20 percent cheaper than renting one.

    Mortgage rates reached a two-year high last month, after the Fed’s initial remarks in May that it may scale back on the purchase of mortgage-backed securities. [more]

  • With full-fledged sellers’ markets underway in dozens of metropolitan areas around the country, new research has found curious statistical patterns emerging: Even in cities where listings get multiple offers within days or hours, significant numbers of homes are sitting on the market for six months, 12 months, or more with no takers. [more]

  • Jed Kolko

    Trulia’s chief economist Jed Kolko said that although the housing recovery was “for real,” the price rises in many major markets were simply a rebound from the dark days of the housing bust. Speaking in an interview on Bloomberg News, Kolko said that strong job growth was increasing household demand, leading to an appreciation in house prices. See the video after the jump.

  • Jed Kolko, Mitt Romney and Pres. Barack Obama

    Although both presidential candidates largely ignored the housing crisis during the race, Trulia chief economist Jed Kolko argues that housing policy would look very different had Romney won. For one, Obama has emphasized stimulating the housing market, making it easier for mortgage borrowers to refinance to a cheaper interest rate. On the other hand, Romney’s housing plan did not even mention refinancing, despite support from one of his economic advisors.

    Obama has also worked to better regulate lenders, establishing the Consumer Financial Protection Bureau, under the Dodd-Frank Act. The Bureau will introduce new mortgage standards by January 2013 crafted to penalize lenders that push consumers into unaffordable loans. Romney had blasted Dodd-Frank for holding back mortgage lending and pledged to “repeal and replace” the legislation. [more]

  • Limiting the homeowner mortgage interest deduction came up in two of the presidential debates, but specifics about who would be affected and how much they might lose in tax benefits were minimal. To put some rough numbers on the issue, here’s a quick primer on the mortgage interest deduction and related housing write-offs.

    How big are they? Very big, which is why they have become such a tempting revenue-raising target for candidates seeking to reduce the massive federal deficit.  According to estimates from the congressional Joint Committee on Taxation, the mortgage interest deduction alone will “cost” the federal government $484.1 billion between fiscal 2010 and 2014 — $98.5 billion in 2013 and $106.8 billion in 2014. Write-offs by homeowners of local and state property taxes account for another $120.9 billion during the same five-year period. [more]

  • alternatetext
    Jed Kolko
    In the midst of presidential debate season, Jed Kolko of Trulia said that neither Obama nor Romney “have housing as a winning issue” (see video after the jump). In order to win two key swing states, he said, the candidates need to step it up.

    Two swing states at issue: Florida and Nevada, which Kolko refers to as the states with “the highest housing misery in the country,” with sharp declines and a lot of borrowers delinquent, behind on payments or in foreclosure. … [more]

  • U.S. rent growth slows: VIDEO

    September 05, 2012 04:00PM

    CNBC screenshot
    This year’s red-hot rent spikes have cooled down a bit. Citing data, CNBC reported that U.S. rents climbed 4.7 percent year-over-year in August, far less than the 5.8 percent annual increases recorded in May and the smallest such jump since March. See the video after the jump. … [more]