N.j. Affordable Housing Ruling May Block Christie’s Plan

The housing market continues to produce some healthy gains for investors.

Case-Shiller Home Price Chart

The high court had declined to throw out a lower-court decision that Christie had no right to eliminate the council, or COAH. At the time, the governors office said, It is well known that there are many on both sides of the aisle in the Legislature who agree that COAH visit our website has been bad for New Jersey with all its onerous and ineffective demands on municipalities. He said the plan was designed to cut costs and reduce complexity. David Turner , a spokesman for Christies Democratic challenger for governor, Senator Barbara Buono from Metuchen, didnt immediately respond to an e-mail seeking comment on todays decision. Hurricane Sandy Its going to result in more homes getting built, which is especially important after Hurricane Sandy , especially important for families that are trying to afford our states expensive housing market and for people like veterans returning from Iraq and Afghanistan who need a supportive environment to live but who are too often excluded from many of the states wealthier communities by their zone, Walsh said at a news conference in Trenton.
For the original version including any supplementary images or video, visit http://www.bloomberg.com/news/2013-09-26/new-jersey-top-court-says-affordable-housing-limbo-needs-fix.html

Housing Market Data Further Confirms My Thesis: Lights Out On The ‘Recovery’

Dave Kranzler picture

KBH reported earnings which exceeded estimates. However their revenue number missed by quite a big margin ($549mm reported vs. $569mm expected). Worse, net orders for new homes declined 9% year over year and its backlog of homes on order dropped 3%. For me, besides the big drop in new orders, the biggest problem for KBH is that its cancellation rate spiked up to 33% from 29% in same quarter last year.
For the original version including any supplementary images or video, visit http://seekingalpha.com/article/1714662-housing-market-data-further-confirms-my-thesis-lights-out-on-the-recovery

Of course, the accommodative monetary policy adopted by the Federal Reserve has been the primary reason for the advance in home builds, sales, and selling pricesthe evidence behind the so-called housing market recovery. But be careful. Its true that the financing costs for homes could likely stay historically low for a few more years, which would help add support to the housing market. However, I feel there could be a sort of bubble on the horizon.
For the original version including any supplementary images or video, visit http://wallstreetsectorselector.com/2013/09/feel-housing-market-topping/

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