Sneak peak at the upcoming market reports

Curbed has a preview of the big brokerage market reports, which will show inventory increasing at a fast clip, while prices have continued to rise over the past year.

Oh my, this is going to be an interesting week. But while the number of transactions may be down from this time last year, prices still seem to be rising. Brown Harris Stevens’ and Halstead’s chief economist reports a 14% property price increase, to a median of $850,000. The final feast before the empire collapses?

Job Losses Continue in New Jersey

Detailed in the monthly report prepared for NJBIZ ,New Jersey’s nonfarm employment decreased for the second straight month.

So, we are not off to a very positive start in 2008. Even though the nation’s job growth had already slowed significantly in 2007, New Jersey’s employment trajectory had virtually flat-lined, signaling far less economic momentum in the state compared to the nation as 2008 unfolded. With the United States now probably in recession, gauged by three straight months of private-sector employment decline, it appears that New Jersey’s economy will be in for a very tough struggle for the balance of 2008.

Bloomberg Proposes Neighborhood Parking Permits

Crain’s reports a new piece of the Mayor’s congestion pricing plan Now, neighborhood parking permits?

Designed to give residents preferential parking treatment in their own neighborhoods, the plan would restrict parking in certain spaces during a 90-minute period for those without permits.

Under the proposal, which could come to fruition as early as next fall, individual neighborhoods could opt in to the program through their Community Board, with additional approval from their City Council member and borough president.

City officials hope the plan will prevent commuters from driving into neighborhoods and parking for the day, while using the subway to get into Manhattan. The proposal could be particularly beneficial for neighborhoods that include Boerum Hill, Brooklyn Heights, Long Island City, and the Upper East and West Sides of Manhattan.