6 Bills to Watch During Christie's Lame-Duck Session
All eyes are on Democratic Gov.-elect Phil Murphy as he prepares to take office Jan. 16, but outgoing Gov. Chris Christie, a Republican, and the Legislature still have seven weeks to wrap up some unfinished business. Christie's lame duck period could yield new laws related to gun control, fire safety, local property taxes and other issues.
INDUSTRY NEWS
Bergen County October 10k Reports
For residential real estate in 2017, the news has continued to provide a relative sense of calm for both buyers and sellers. The national unemployment rate registered in at 4.1 percent for October 2017, which means that joblessness has not been this low in the U.S. since December 2000. Another positive, mortgage rates have held steady at or near 3.9 percent. Historically, the average rate has been around 6.0 percent. These factors help to keep the pool of potential buyers full, even during the so-called off-season of home sales.
2018 Forecast: Is Inventory Relief on the Way?
Ask the 60-some percent of brokers in RISMedia's 2017 Power Broker Survey: Almost every housing market is plagued by short supply. In fact, inventory nationally for pre-owned properties is at 3.9 months, down 10.4 percent from last year, the National Association of REALTORS® (NAR) recently reported.
GLOBAL PERSPECTIVES
How Foreign Investors are Transforming a Long-Forgotten D.C. Neighborhood
On the site of a shuttered Burger King in a long-neglected Northeast neighborhood, D.C. Mayor Muriel E. Bowser donned a hard hat and dug a shiny shovel into a pile of dirt. It was a groundbreaking for a luxury apartment - made possible by $27 million in foreign investment.
